INTERNATIONAL DEVELOPMENT & BUSINESS

Africa's Infrastructure: A time for transformation

2009-11-16T18:48:00.000+03:00

Africa Needs $93 Billion to Improve InfrastructureA new report from the World Bank and African partners, Africa's Infrastructure: A Time for Transformation, highlights the findings of a 24-country study and urges increased investment in four critical areas: energy, transport, water, and information and communications technology.For more on the report, visit http://go.worldbank.org/NGTDDHDDB0

Why Aid to Africa Must Increase

2009-10-14T17:19:00.001+03:00

Given its massive development deficits and the effects of the global economic crisis, many observers, included me, are calling for increased aid to Africa. Most of these appeals are based on Africa’s need for more resources. But there is a different argument. Aid to Africa is today as productive as it has ever been. Craig Burnside and David Dollar identified a group of policies (including fiscal

Swine flu outbreak dampens economy hopes, markets

2009-04-27T16:48:00.000+03:00

LONDON (Reuters) - An outbreak of swine flu dampened tentative hopes for the global economy, sending markets lower on Monday and analysts fear a possible pandemic could force countries further into recession.The virus, a new strain of swine flu, has killed 103 people in Mexico and spread to the United States. The World Health Organization said the outbreak was a "public health emergency of

Infolinks: Personal experience & Recommendation

2009-04-22T19:54:00.001+03:00

Blogging might be for personal interest, just to publish ideas and having funny. But the trend in blogging, change from a mere publishing with making money that make it more funny and interesting, with that view in mind , I do here by today come up with something new. I want to share with my dearest readers the experience on Infolinks, one of the global known in text Ads.I joined Infolinks on

Transform economies to mitigate pain of global economic crisis - World Bank Vice President for Africa urges

2009-04-08T19:26:00.001+03:00

Lusaka, April 4, 2009 — World Bank Vice President for Africa Obiageli Ezekwesili has challenged countries in Africa to use the global economic downturn as an opportunity to rapidly transform their economies through diversifying sources of growth, reforming policies, and strengthening governance.Speaking at a national Indaba on the impact of the global economic crisis on Zambia, Ms. Ezekwesili

IMF crafts softer terms to help Africa...

2009-03-10T12:28:00.001+03:00

IMF chief Dominique Strauss-Kahn admitted that the Fund's policy advice had not always been right, and promised more streamlined lending practices as economic crisis forces more countries to seek help.Addressing students at the University of Dar es Salaam, the International Monetary Fund`s managing director said sub-Saharan Africa would be more affected by the slowdown in world growth than by the

Tanzania and China sign four economic agreements

2009-02-15T16:37:00.003+03:00

2009-02-15 12:13:12By Joyce KisakaChinese President Hu Jintao arrived in Dar es Salaam last night, for a four-day official visit, leading a 140-strong delegation.The Minister for Foreign Affairs and International Co-operation, Bernard Membe, told journalists in the city yesterday that the visit is aimed at consolidating relations between two countries, which date back to 1961, when Tanzania

Football business: China president to launch new stadium Feb 15 in Dar es Salaam

2009-02-13T16:04:00.003+03:00

THE new state-of-the-art stadium in Dar es Salaam is expected to be officially launched on February 15, the 'Daily News' has learnt. Impeccable sources say that Chinese President Hu Jintao is expected to grace the opening of the imposing facility during his forthcoming visit to Tanzania. A source told the 'Daily News' that organizers have planned colourful celebrations for the opening ceremony.“

China president visit Africa and Saudi Arabia

2009-02-11T15:54:00.003+03:00

Chinese President Hu Jintao launches a whistlestop tour of Saudi Arabia and Africa Tuesday in a trip expected to focus more on shoring up political ties and less on securing energy supplies.Hu's one-week trip takes him to Saudi Arabia, China's biggest source of oil imports, but the four countries that he will then visit in Africa -- Mali, Senegal, Tanzania and Mauritius."The top Chinese

Dar es Salaam set for major IMF conference

2009-02-10T11:23:00.002+03:00

IMF Managing Director Dominque Strauss-Kahn discusses on the upcoming conference with a group of African ambassadors and diplomatic representatives at IMF Headquarters in Washington,last week. The conference,to be held on March 10 and 11, in Dar es Salaam,will focus on the continent's recent economic successes and on the impact of the financial crisis on Africa.(By courtesy of IMF)STAFF WRITER,

Tulawaka mine achieves record output

2009-02-10T11:10:00.002+03:00

STAFF WRITER, 6th February 2009 @ 02:58THE Tulawaka Gold Mine in Kagera Region produced a record 211,373 ounces of gold for the year ended December 31, 2008, which reflects an 18 per cent rise over 2007 output."This increase is particularly noteworthy given that it occurred during a year, in which the mine was transformed from an open pit to underground operations, a change usually associated

Customers up in arms after GTV closure

2009-02-04T19:45:00.002+03:00

Tuesday, February 3, 2009The Tanzania Communications Regulatory Authority (TCRA) has given GTV Tanzania up to 10.00 am today to explain how it is going to compensate its customers following the company’s liquidation. Reports in international media over the weekend had it that Gateway Television (GTV) of UK has closed down after going bust.The abrupt termination of GTV leaves behind millions of

USD 1.5bn to cushion Africa`s banks - AfDB

2009-02-04T11:21:00.000+03:00

2009-02-04 11:04:16By Joyce Kisaka, Addis AbabaThe African Development Bank (AfDB) has set up a USD 1.5billion Emergency Facility to meet urgent liquidity needs of various sectors and institutions, which the global financial crunch will hit.AfDB President Dr Donald Kaberuka told journalists here after giving a statement at the Assembly of the African Union on the Economic Impact of the Global

Are we ready to face the coming economic CHANGE, and how?

2009-02-01T10:35:00.000+03:00

It is no longer a question of when, but question of how deep the current global economic meltdown will entrench itself. The meltdown is rooting itself deeper on the global economies, and the impact is unequivocally spreading amongst the economically elite, while hitting harder amongst the economically disadvantaged. Not an American or the Western mantra anymore, it is global. Central Banks across

US Pres. Barack Obama letter to East African Presidents: Accountablity brings development

2009-01-24T09:18:00.002+03:00

Dear Sirs,Thank you for your support during my campaign and the kind words of encouragement and counsel in the last few weeks.Kenya is the home of my father and I am not averse to being called a Kenyan- American and by extension an East African-American, it is with this background that I write to you gentlemen.Gentlemen, we stand on the cusp of history.Our region is a much more peaceful place

We will not refund radar cash, says UK

2009-01-23T17:07:00.000+03:00

y Christopher KidankaThe United Kingdom will not compensate Tanzania for the loss incurred in the controversial 28 million sterling pounds (about Sh50 billion) radar purchase deal, its High Commissioner said yesterday.Speaking in an exclusive interview with The Citizen in Dar es Salaam, the outgoing UK High Commissioner to Tanzania, Mr Phillip Parham, said though his country was aware that the

Barack Obama inauguration speach is hope for better world economy

2009-01-20T21:11:00.001+03:00

Full text: Obama inauguration speechBarack Obama has been sworn in as the 44th US president. Here is his inauguration speech in full.My fellow citizens:I stand here today humbled by the task before us, grateful for the trust you have bestowed, mindful of the sacrifices borne by our ancestors. I thank President Bush for his service to our nation, as well as the generosity and co-operation he has

Kilimanjaro starts weekly flower flights

2009-01-19T17:35:00.000+03:00

Written by EABW CORRESPONDENT Monday, 19 January 2009 DAR ES SALAAM, TANZANIA - The Tanzania Horticultural Association (TAHA) and its newly formed growers-owned logistics firm, TAHA Fresh Handling Limited (TFHL), have announced the successful inaugural flight of a Boeing 747-200 cargo aircraft from Kilimanjaro International Airport (KIA).The US government through USAID was fundamental in

CAN TANZANIA SURVIVE WITHOUT AGRICULTURE?

2009-01-18T16:52:00.000+03:00

Tanzania as a country that depends on agriculture as the main contributor to the Gross Domestic Product (GDP), and the main source of International trade, may need to rethink her economic future in the wake of 2008 oil crisis, in which a barrel of oil reached an historic high of $147 just to slide back to $36.2, a barrel in less than six months. Sending shockwave of fear to countries that relied

Tanzanite price falls by 80 percent, WHY?

2009-01-12T11:53:00.000+03:00

2009-01-11 14:08:47 By Adam Ihucha, Arusha First it was cotton, then followed coffee, Nile Perch, tourism and this week tanzanite joined the list of the latest casualties of global economic meltdown, when the price of the rare gemstone

Africa has potential for more FDI inflows

2009-01-10T17:05:00.000+03:00

2009-01-10 11:09:25 By A correspondent Africa`s performance in attracting Foreign Direct Investments (FDIs) is exceptionally good due to availability of natural resources such as minerals, oil, gas and good promotional campaign

How global crisis will affect you in 2009

2009-01-04T16:11:00.002+03:00

2009-01-04 11:42:59 By Staff Reporter If you banked your hopes on the country`s top banker, believing that Tanzania is far away from the World`s powerful countries currently hit by financial crisis, and therefore can’t be affected, you were

FINANCIAL MARKETS: Nairobi Stock Exchange (NSE)

2008-12-23T12:45:00.003+03:00

MARKET FACT FILECONTENTS􀂃 NSE’s Vision, Mission and Core Values􀂃 Fact Sheet􀂃 The Role of the Stock Exchange in the Economy􀂃 NSE Brief History􀂃 Listing requirement􀂃 A Chronology of Fiscal and Policy Incentives for the Capital Markets􀂃 Capital Raising activities in the market: IPOs and Rights Issue􀂃 Contact list of Member Firms© NSE, BDDUpdated: Tuesday, November 11, 2008THE NAIROBI STOCK

FINANCIAL MARKETS: Dar Es Salaam Stock Exchange (DSE)

2008-12-22T19:36:00.004+03:00

Brief History The Dar es Salaam Stock Exchange (DSE) was incorporated in September 1996 as a private company limited by guarantee and not having a share capital under the Companies Ordinance (Cap. 212). The DSE is therefore a non-profit making body created to facilitate the Government implementation of the economic reforms and in future to encourage the wider share ownership of privatized and all

New U.N.-Sponsored Initiative Offers African Scientists Training in U.S.

2008-12-15T20:30:00.003+03:00

ADDIS ABABA, Ethiopia — To strengthen the foundations of science and business development in Africa, the United Nations Economic Commission for Africa and U.S.-based RTI International have established a program to help promising research reach the commercial market place. The new initiative, African Science to Business Challenge, will solicit proposals in the biomedical engineering and water

Investment opportunities in Tanzania

2008-12-14T16:21:00.003+03:00

Tanzania is an emerging economy with high growth potential. Whilst the economy is relatively diversified, a number of opportunities remain untapped in many sectors. In an attempt to make Tanzania the preferred destination for foreign direct investment, continuous improvements towards the creation of an enabling environment have been made. Investment opportunities existing in Tanzania have been

Oil at 4-year lows below $44 on dire economic news

2008-12-05T12:53:00.000+03:00

SINGAPORE – Oil prices were steady near four-year lows below $44 a barrel Friday in Asia as more bad U.S. economic news soured the outlook for global growth and demand for crude.Light, sweet crude for January delivery was up 26 cents to $43.93 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell overnight $3.12 to settle at $43.67, the

Democrats: Obama needs hands-on economic approach

2008-12-05T11:17:00.002+03:00

WASHINGTON – Democrats are growing impatient with President-elect Barack Obama's refusal to inject himself in the major economic crises confronting the country. Obama has sidestepped some policy questions by saying there is only one president at a time. But the dodge is wearing thin. "He's going to have to be more assertive than he's been," House Financial Services Committee Chairman Barney Frank

How will the financial crisis affect remittances to Africa?

2008-11-29T12:31:00.002+03:00

Sub-Saharan Africa received almost $12 billion in remittances in 2007, and that was only the official number. With "informal" flows added the total amount can easily be double that number. Nigeria, Kenya, Sudan, Senegal, Uganda and South Africa received the highest volume of remittances, while in smaller countries such as Lesotho remittances represent up to a quarter of GDP.Remittance costs are

World Bank to Help Mitigate Affects of Financial Crisis on Africa's Development

2008-11-26T12:16:00.001+03:00

The World Bank has reiterated its commitment to providing the support needed by African countries to minimize the negative impact of the global financial crisis on growth and poverty reduction. Join the Discussion! What's your opinion of the financial crisis and its impact on Africa?

What is International Development?

2008-11-24T15:22:00.002+03:00

It said there is no universally agreed single definition of INTERNATIONAL DEVELOPMENT. If that is the case, then why? If not what does it really mean by the term INTERNATIONAL DEVELOPMENT?. To me I think this will open up our discussion and is a good icebreaker, as it gives us a direction on our coming posts. We welcome comments from any discpline