Kenya shuts down TV, ra­dio sta­tions

The New Age (Western Cape) - - Business -

NAIROBI: Kenyan au­thor­i­ties shut down pri­vate TV and ra­dio sta­tions yes­ter­day as thou­sands of op­po­si­tion leader Raila Odinga’s sup­port­ers gath­ered in a park where he was due to take the pres­i­den­tial oath in an act of protest. Odinga’s sup­port­ers in­sist that he, not Pres­i­dent Uhuru Keny­atta, is the le­git­i­mate leader, and that Keny­atta’s elec­tion was nei­ther free nor fair. Keny­atta’s vic­tory was nul­li­fied by the Supreme Court. – Reuters

Egypt sees 9.4% bud­get deficit

CAIRO: Egypt’s bud­get deficit for the 2017-18 fis­cal year is ex­pected to reach 9.4% of gross do­mes­tic prod­uct, up from pre­vi­ous pro­jec­tions of 9%, the deputy fi­nance min­is­ter said yes­ter­day. The rise is due to an in­crease in global oil prices and high lo­cal in­ter­est rates, Mo­hamed Meait said. – Reuters

Wanda stock rises af­ter $5.4bn tie-up

SHANG­HAI: Hong Kong shares linked to trou­bled Chi­nese con­glom­er­ate Wanda surged 52% yes­ter­day af­ter the com­pany an­nounced a $5.4bn (R64bn) stake sale and re­tail tie-up with in­vestors in­clud­ing in­ter­net gi­ant Ten­cent. It is the lat­est move by Wanda boss Wang Jian­lin to sell off parts of his real es­tate em­pire fol­low­ing a rapid di­ver­si­fi­ca­tion that left the firm mired in debt and un­der the scru­tiny of gov­ern­ment reg­u­la­tors. – AFP

An­gola leaves its lend­ing rate at 18%

LUANDA: An­gola’s cen­tral bank left its bench­mark lend­ing rate un­changed at 18% at a meet­ing of its mon­e­tary pol­icy com­mit­tee on Mon­day, the reg­u­la­tor said in a no­tice on its web­site. The next meet­ing of An­gola’s mon­e­tary pol­icy com­mit­tee is on Fe­bru­ary 28, it said. – Reuters

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