Global growth slows in emerging economies
Global growth has slowed sharply and the risk of financial stress in emerging market and developing economies (EMDEs) is intensifying amid elevated global interest rates, according to the World Bank’s latest Global Economic Prospects report.
Global growth is projected to decelerate from 3.1% in 2022 to 2.1% in 2023. In EMDEs other than China,...
Global Economy Set for Weakest Half-Decade Performance in 30 Years
As the world nears the midpoint of what was intended to be a transformative decade for development,
Burundi and DRC private sectors meet to boost trade
Burundi and Democratic Republic of Congo chambers of commerce met on Tuesday in Bukavu (DRC) in efforts to boost the trade between the two countries.
Remittances increase by 115 percent in Burundi
Burundi remittances is now said to have increased by 115 percent according to the country’s Central Bank (BRB), while addressing the press the BRB Governor said that the measures to lift restrictions on money transfer has already created a positive impact on the country’s economy.
In October, 2022, Burundi’s Central Bank lifted the restrictions...
EABC: Market East Africa as a Single Investment Destination
East African Business Council (EABC) Chairperson Angelina Ngalula on Tuesday called on the governments of the East African Community (EAC) Partners States to market East Africa as a single investment destination by showcasing and reinforcing the bloc's comparative and competitive advantage.
Speaking at the press conference during her official visit to the EABC Secretariat...
Fuel crisis hits Burundi again
Burundi again is facing a fuel crisis after months of what citizens called “sufficient fuel” the country.
Despite diesel being available at the petrol station around Bujumbura, long queues have been witnessed at almost every fuel station as petrol shortage rocks again the country.
“I have parked my car at this...
World Bank Group approves $120 million for Burundi Transport Resilient Project
WASHINGTON, October 6, 2022—The World Bank Group approved $120 million in financing for the Burundi Transport Resilient Projectwhich aims to provide efficient, safe, and climate resilient road connectivity along the main corridor linking Burundi with Tanzania. It will also strengthen the institutional capacity to sustainably plan, develop, and preserve climate resilient road assets.
The project...
Vehicle prices set to increase as EAC adopts Common External Tariff
The East African Business Council (EABC) is calling for partner states to adopt a 35 percent tariff on imported goods outside the East African Community in what it says will help promote and develop regionally manufactured products.
“The way to protect our infant industry is to raise the common external tariff for those products...
Private sector calls for harmonization of standards to boost intra-EAC trade
The East African Private Sector have urged governments to fast-track the harmonisation of East African Standards during the EABC-TMEA Regional Public Private Engagement on Standards held in Dar es Salaam, Tanzania last Sunday.
Evidence shows harmonization of standards increased the intra-trade by 10%, reduced inspection & clearance costs at the border from USD. 500...
An A380 superjumbo just completed a flight powered by cooking oil
It's huge, it's wide, and it's potentially a lot more sustainable. The Airbus A380, a behemoth of the skies, has completed a trial flight powered on cooking oil.
The test airplane completed a three-hour flight from Blagnac Airport in Toulouse -- Airbus' French headquarters -- on 25 March. It was powered by Sustainable Aviation...