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Kenya demands renegotiation of $5bn borrowed from China

Kenya wants to renegotiate a multibillion-dollar loan from China that was used to build a major railway because though the country is up to date on its payments, it cannot continue with the current 20-year schedule. Answering questions from a parliamentary committee, Kenya’s incoming transport minister, Kipchumba Murkomen, said the country will have to ask […]

Burundi: Outgoing President passes away at 55

Outgoing President of Burundi Pierre Nkurunziza, aged 55, has died of a heart attack, the government announced in a statement Tuesday. President Nkurunziza was admitted to hospital on Saturday after feeling unwell. His condition then improved but on Monday he had a cardiac failure. “Immediate resuscitation was undertaken by a multidisciplinary team of doctors for […]

Saudi mining company planning investments in Egypt

MA’ADEN, a Saudi state-owned mining company headquartered in Riyadh, is planning to invest in the Egyptian mining sector, as part of strategies by the Gulf’s largest miner to invest in mining assets around world. The announcement was made by Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla told Asharq Business in an interview. Representative […]