Tag: Russia

Coronavirus – Seychelles: Ambassador Kozhin calls upon Vice President Meriton for Africa Day

Download logoOn the occasion of Africa Day, celebrated on Monday 24 May 2020, the Ambassador of the Russian Federation, H.E. Artem Alexandrovich Kozhin, called upon Vice President (VP) Meriton, to personally deliver a congratulatory message on behalf of the President of the Russian Federation, H.E. Vladimir Putin for President Danny Faure. The message stated that ‘African states are Russia’s important and prospective partners, which enjoy well deserved respect on the global arena

New Angolan budgetary restrictions underline government’s determination to support Organization of the Petroleum Exporting Countries (OPEC) and boost industry

Download logoAngola’s minister of finance H.E Vera Daves signed on April 22nd a ministerial order suspending the implementation of all contracts signed under the Public Investment Programme whose source of funding has not yet been definitively secured. This is one of a number of emergency measures, including a freeze in public sector hiring that was announced in recent weeks in response to the oil price crash and the expected reduction in government revenue for 2020. Minister Daves’s

Rosgeo, Russia’s leading geological company, signed first contracts to start exploration and increase the potential of mineral and hydrocarbon resources in Equatorial Guinea

Download logoJSC Zarubezhgeologia and JSC Yuzhmorgeologia, internationally operating subsidiaries of the Russia’s state-owned joint stock company Rosgeo and the Ministry of Mines and Hydrocarbons (MMH) of Equatorial Guinea have signed two services contracts for the initial phase of seismic acquisition in transit zone and state geological mapping in the Rio Muni area, Equatorial Guinea. These contracts follow the signing of a Memorandum of understanding between both entities during the Russ

Coronavirus – Africa: Global food commodity prices drop further in April

Download logoWorld food commodity prices declined for the third month in a row during April, as the economic and logistical impacts of the COVID-19 pandemic resulted in significant contractions in demand for many commodities. The FAO Food Price Index, which tracks international prices of the most commonly-traded food commodities, averaged 165.5 points in April, some 3.4 percent lower than the previous month and 3 percent lower than April 2019. The FAO Sugar Price Index hit a 13-year low, dec

The Way Forward: How Africa Can Make a Comeback from the Oil & Gas Downturn

Stunning drops in crude oil prices—the result of COVID-19-related declines in demand and an oil price war between Saudi Arabia and Russia—have been taking their toll around the globe this spring. For Africa’s oil-producing countries, where crude oil exports make up a large portion of their revenue, the situation is especially dire. In Nigeria, for example, Finance Minister Zainab Ahmed recently warned of an imminent recession and requested billions of dollars in internatio

Coronavirus – Africa: World Bank predicts sharpest decline of remittances in recent history

Download logoGlobal remittances are projected to decline sharply by about 20 percent in 2020 due to the economic crisis induced by the COVID-19 pandemic and shutdown. The projected fall, which would be the sharpest decline in recent history, is largely due to a fall in the wages and employment of migrant workers, who tend to be more vulnerable to loss of employment and wages during an economic crisis in a host country. Remittances to low and middle-income countries (LMICs) are projected to fall

Africa Intelligence, the new continent's daily. All Africa. All exclusive.

Africa Intelligence (www.Indigo-Net.com) becomes the leading digital daily to offer full coverage of the African continent for professionals. Available as of today, the new publication draws on nearly 40 years of experience chronicling the continent and the combined expertise of five confidential newsletters: West African Newsletter, The Indian Ocean Newsletter, Maghreb Confidential, Africa Energy Intelligence and Africa Mining Intelligence. Guided by the same editorial line of the five publ

COVID-19: Why there are no winners in the oil price crash

Brent crude futures plummeted further and are currently hovering around $19 a barrel after falling about 10 per cent on increased concerns over a building supply glut and a lack of available storage. Kola Karim, Chairman of Shoreline Group joins CNBC Africa for more.
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