Tencent topped China's most valuable private company list in 2021, while Alibaba dropped to third place, according to a Hurun Report released on Wednesday. Tencent amassed a valuation of 3.9 trillion yuan ($610 billion) last year after 1 trillion yuan was wiped off the market. In
Madagascar’s risk and disaster management office says 10 people died in flash floods in and around Madagascar’s capital, Antananarivo. About 500 people were displaced and two people were injured, according to the office’s latest report. The floods were the result of heavy rainfall that started on Monday
The United Kingdom’s Minister for Africa, Vicky Ford, announced Britain is funding a Ksh.2.2 billion support package for four countries in East Africa that are dealing with extreme drought and floods. The money will assist people in Ethiopia, Kenya, Somalia and South Sudan. Speaking as she commenced
The United Nation’s Food and Agriculture Organization (FAO) says it is launching a 138 million U.S. dollar (Ksh.15.6 billion) plan to avert the consequences of drought and crop failures in Eastern Africa and the Horn. The body announced the news in a statement released Monday. Three consecutive
Global tourism experienced a 4 percent increase in 2021, compared to 2020. However, the United Nations World Trade Organization (UNWTO) says in a report released on Tuesday that international tourist arrivals (overnight visitors) were still 72 percent below the pre-pandemic year of 2019. This follows on
China's central bank on Monday cut the interest rates of its medium-term lending facility (MLF) loans and reverse repos by 10 basis points amid the country's efforts to lower lending costs and further shore up economic growth. The People's Bank of China (PBOC) lowered the rate
The stone remains of two ancient royal statues and colorful walls and columns were unearthed in Egypt’s monument-rich city of Luxor, the Ministry of Tourism and Antiquities said in a statement on Thursday. The new discovery was made by the Egyptian-German archeological mission during the restoration
Zimbabwe managed to significantly cut its trade deficit towards the end of 2021 after it registered an increase in the value of its exports and a decrease in the value of its imports. According to the Zimbabwe National Statistical Agency (Zimstat), the trade deficit went down
The U.S. on Wednesday threatened Somalia with sanctions if it fails to meet a recently agreed timetable for holding elections. “Somalia’s elections are more than a year behind schedule. The U.S. is prepared to take measures against spoilers if the new National Consultative Council timeline is
The COVID-19 pandemic is growing into an endemic disease and it is still in the process of evolution, said an official of the World Health Organization (WHO) at a press briefing on Wednesday. "This virus is on its way to becoming endemic, there's no question about
