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Author's articles
Kenya government to unveil budget amid tax hike anger
Kenyan President William Ruto's government is set to present its budget to parliament Thursday in the face of widespread anger over a range of proposed tax hikes to shore up depleted public finances. We have to sacrifice for the future," Treasury Minister Njuguna Ndung'u told local station Citizen TV on Thursday before he submits the budget to parliament.
TikTok to spend billions in SE Asia as e-commerce move pays off
TikTok's chief executive said Thursday the company would pour billions of dollars into Southeast Asia in the coming years, as a report showed its nascent venture into online shopping is paying off. "We're going to invest billions of dollars in Indonesia and Southeast Asia over the next few years," Shou Zi Chew told a forum in Indonesian capital Jakarta.
AIIB serves China's Communist Party: Canadian former executive
China's ruling Communist Party dominates the Asian Infrastructure Investment Bank and uses it to further its interests, a former executive has alleged in claims that prompted Canada to suspend participation in the institution. Speaking from Tokyo, he said the bank "serves China's interest" and the Chinese Communist Party (CCP) wields "undue" influence over every aspect of its operations.
ECB tipped to hike rates again, as Fed hits pause
The European Central Bank is expected to again hike interest rates on Thursday and signal that the fight against inflation is not over yet, analysts said, even as the eurozone falls into recession. Like all central banks, the ECB has to walk a fine line in raising interest rates sufficiently to dampen demand and contain inflation, without provoking a sharp economic slowdown in the process.
Key issues straining China-Canada relations
Canada has said it is freezing its participation in the Asian Infrastructure Investment Bank, after a former executive alleged that Beijing wields "undue" influence over the multilateral organisation. - AIIB spat - Allegations of Chinese meddling have now led Ottawa to say it will "immediately halt all government-led activity" at the Beijing-based Asian Infrastructure Investment Bank (AIIB).
Asian markets rise as Fed holds rates, China cuts
Asian markets rose Thursday after the Federal Reserve decided against hiking interest rates and China's central bank cut borrowing costs as officials look to kickstart the struggling economy. Traders are now looking ahead to a policy decision by the European Central Bank later Thursday, with another hike expected.
China central bank cuts key interest rate to boost economy
China's central bank cut a key interest rate and injected $33 billion into financial markets Thursday, as data showed the world's second-largest economy was flagging. China's six largest state-owned commercial banks cut interest rates for savers on Thursday to boost spending, according to announcements on their websites, after being asked by the central bank.
'No job for humans': the harrowing work of content moderators in Kenya
Trevin Brownie's first day as a content moderator for Facebook is etched in his memory, working out of a subcontractor's nondescript office in the Kenyan capital Nairobi. He worked in Nairobi for Sama, a Californian company subcontracted by Meta to moderate Facebook content for sub-Saharan Africa between 2019 and 2023.
Lithium boom comes to Brazil's 'misery valley'
In a cloud of gray dust, a heavy-duty excavator loads a truck with stone blocks containing lithium, the "white gold" of the clean-energy revolution, which some hope will transform this parched, impoverished region of Brazil. "We obviously believe the clean-energy transition needs to happen, but it should be fair and inclusive for local communities."
AFP
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