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Kenyan trade deals with UK and EU face tariff dispute
What’s happened? Kenya’s Economic Partnership Agreement (EPA) with the EU, which was signed on December 18th but is not yet ratified, and its EPA with the UK, which came into force in March 2021, both...
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Global trade update: Red Sea disruptions
What’s happened? Global sea freight rates have risen rapidly as a result of security disruptions in the Red Sea. We expect rates to stabilise around mid-February as trade demand, which was frontloaded...
View ArticleUS national security bill inches forward in Congress
What’s happened? On February 13th the Senate (the upper house) voted 70‑29 to approve a US$95bn national security bill providing aid to Ukraine, Israel, Taiwan and other US allies. The bill has since...
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Saudi Arabia takes first step towards relaxing alcohol laws
Saudi Arabia has opened an off-licence in the diplomatic quarter of its capital, Riyadh, which is the kingdom’s first commercial outlet for the sale of alcohol beverages since a ban on the public sale...
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Red Sea crisis affects African ports
The Red Sea security crisis has seriously and negatively affected traffic through Africa’s Red Sea ports but has benefited some ports elsewhere through increased demand for bunkering and restocking...
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UN approves Gaza ceasefire resolution
What’s happened? On March 25th the UN Security Council approved a resolution calling for an immediate two-week ceasefire in the Israel-Hamas war. The US abstained, allowing the measure to pass. This...
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UAE will continue to expand footprint in East Africa
What’s happened? The UAE has established and will operate a new US$50m 20‑bed field hospital in Chad, the second one opened by the UAE in the area, which has seen huge refugee inflows from the civil...
View ArticleStrike on Iran’s embassy in Syria poses dilemma for Lebanon
What’s happened? On April 1st a presumed Israeli air strike on the annex of the Iranian embassy in the Syrian capital, Damascus, killed seven senior members of the Iranian Revolutionary Guards Corps...
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BEAC holds policy rate steady, despite still-high inflation
What’s happened? At its March monetary policy committee meeting, the Banque des Etats de l’Afrique centrale (BEAC), the central bank of the Communauté économique et monétaire de l’Afrique centrale...
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Oil prices will remain above US$80/b until late 2025
What’s happened? Based on recent data from the International Energy Agency, the global oil market fell into deficit (with demand outstripping production) in the first quarter of 2024. Due to this...
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