Fitch sees promising prospects for Nigeria’s fiscal, economic outlook

Fitch revises global GDP forecast to modest 5.3% uptick in 2021

  Long-term FX creditworthiness ‘positive’ Affirms long-term FX IDR at ‘B-’ On back of recent reforms Onome Amuge Global credit rating agency Fitch Ratings has shined a positive light on Nigeria’s long-term foreign-currency creditworthiness, upgrading its outlook to “Positive” and affirming the country’s long-term foreign-currency Issuer Default Rating (IDR) at ‘B-’, a sign that the […]

India outpaces China, becomes fastest growing major economy

The Indian economy grew at its quickest pace in nearly two years driven by higher growth in manufacturing, the farm sector and construction, pulling further ahead of China. The economy grew 7.7 percent year-on-year in the three months period from January to March 2018, outpacing China’s growth rate of 6.8 percent and confirming India as […]

Global water tariffs need rise 5.9% a year to achieve SDG, GWI report shows

Water tariffs globally will need to increase 5.9 percent each year in order to generate the $449 billion of annual investment required to achieve the Sustainable Development Goal (SDG) on water and sanitation between 2018 and 2030 and maintain existing infrastructures, a new market report has found. The report, published by Global Water Intelligence (GWI), […]

Global central banks set for huge shift as technology advances- Barclays

Advances in technology and huge shifts in the way society functions mean that the way central banks operate will fundamentally change in the coming years, according to one of Barclays’ most senior economists. Christian Keller, the bank’s head of economics research, while speaking Tuesday at the launch of Barclays’ annual Equity Gilt Study, said that […]

Kenya economy growth to recover 5.5% in 2018 from 4.8% in 2017-World Bank

World Bank has projected Kenya’s GDP growth to recover 5.5% in 2018 up from an estimated 4.8 percent in 2017. Over the medium term, economic activity is expected to gain momentum, steadily rising to 6.1 percent by 2020, according to the Bank’s 17th Kenya Economic Update (KEU) launched in Nairobi. The positive outlook is underpinned […]

India overtakes Japan, becomes 2nd largest producer of crude steel

In a major achievement, India overtook Japan to become the second largest producer of crude steel in Feb 2018. India’s crude steel production was up 4.4 percent and stood at 93.11 million tons for the period April 2017 to February 2018 (prov) as compared to April 2016 to Feb 2017. At present China is the […]

Tech innovation fueling world growth

Technological innovation is believed to almost certainly be the key driving force behind long-term global economic growth, and its use has been strongly linked to market transformation, more robust international trade and improved living standards, analysts said at a Thursday conference in Beijing. China’s push to carve a niche for itself in global technology leadership […]