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Foreign aid stalls as Africa's debt spirals
Foreign aid stalls as Africa's debt spirals
Business and Economy
by  AFP

Africa is battling decades-high levels of debt after the pandemic and Russia's invasion of Ukraine, but the international community is struggling to agree on extending its financial support for the region. The International Monetary Fund (IMF) said in a report Friday that public debt and inflation in sub-Saharan Africa were "at levels not seen in decades".

Kenya's Ruto vows to slash price of food staple
Kenya's Ruto vows to slash price of food staple
Business and Economy
by  AFP

Kenya's President William Ruto announced on Friday that he would slash the price of a key food staple as anger over skyrocketing inflation fuels protests in the East African nation. The violent protests have also focused on the economic crisis facing Kenyans, with many slamming Ruto for removing subsidies for fuel and maize flour as inflation bites.

Mars CEO sees 'moral' duty in tackling climate change
Mars CEO sees 'moral' duty in tackling climate change
Business and Economy
by  AFP

The new chief executive of Mars, maker of M&M's sweets, chewing gum and pet food, says companies have a "moral" duty to reduce their environmental footprint as the world battles climate change. The family-owned multinational, whose brands include the Mars and Snickers chocolate bars, Pedigree pet food and Wrigley's chewing gum, aims to reach net-zero emissions by 2050.

US retail sales post steeper fall than expected: govt
US retail sales post steeper fall than expected: govt
Business and Economy
by  AFP

Retail sales in the United States slipped more than anticipated in March, according to government data released Friday, extending a downward trend that signals cooling in the economy. The data also follows a trend of slowing price increases, with inflation cooling to 5.0 percent last month -- the smallest annual jump since May 2021.