Kenya vows to defend its territory in oil row with Somalia

Nairobi Kenya vowed to “never cede an inch” of its territory in a border dispute with Somalia that has soured diplomatic relations. Kenya recalled its ambassador last week after accusing Somalia of auctioning four oil blocks in an area off their coastlines claimed by both nations. It demanded Somalia withdraw what it called “illegal maps” […]

World’s best carry trade intact as Egypt pivots to rate cuts

Cairo: It will take more than a surprise rate cut to threaten this month’s best carry trade. Egypt’s real interest rates remain elevated relative to emerging-market peers even after the central bank used its opening meeting of 2019 to loosen policy for the first time in almost a year. Following last week’s 100 basis-point reduction […]

China’s Xi urges financial risk prevention while seeking stable growth

Beijing: China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported on Saturday. China’s economy is growing at its slowest pace in almost 30 years, spurring policymakers to bolster growth by easing credit conditions and cutting taxes. […]