World Bank warns millions could fall into ‘extreme poverty’ during Covid-19 pandemic
13 June 2020 | 10:21 am
The World Bank says the global economy is facing its deepest recession since World War II as a result of the coronavirus pandemic. Advanced economies are set to shrink 5 percent, while emerging economies are facing their first contraction in decades. Franziska Ohnsorge, lead author of the 2020 Global Economic Prospects report, tells FRANCE 24 that millions of people working in an informal capacity could slip into poverty despite government support. Also in the show: BP announces plans to slash 10,000 jobs as OPEC extends its oil production cuts.
14 Mar 2019
Data from the Energy Information Administration showed that the United States cut its imports of Nigerian crude oil by 43 per cent in 2018. Meanwhile, oil prices continue to inch higher by healthy demand and output cuts led by producer group OPEC.
22 May 2019
Gender equality is a topic stressed almost every day globally, and a study conducted by the IMF has seen the urge for women to lead the way in business as an important strategy to improve equality ratings and in turn see a countries economy grow by almost 35 per cent. Donna Rachelson, CEO of Branding and Marketing You and author of SA’s best-selling book ‘Play to Win: What women can learn from men in business’ joins CNBC Africa for more.
30 Jun 2019
Pierre Guislain the Vice President for Private Sector, Infrastructure, and Industrialisation at the AfDB says development banks like Afreximbank and the AfDB have a core mandate to harness the potential of Africa’s private sector to accelerate the continent’s transformation. He explored ways to attain this transformation with CNBC Africa's Christy Cole.
7 Jul 2019
OPEC agreed to extend production cuts by nine months after several members endorsed the move aimed at supporting oil prices amid a weakening global economy. The deal will take effect once non-OPEC allies give their approval at a meeting scheduled to hold today. Oyeyemi Oke, Oil and Gas Lawyer and Partner at A02 Law joins CNBC Africa to discuss this and other stories impacting the global oil market.
12 Sep 2019
PwC Nigeria says official remittances to Sub-Saharan Africa grew by 10 per cent to $46 billion in 2018. Andrew Nevin, Partner and Chief Economist at PwC Nigeria says these funds are supporting economic activities on the continent. He joins CNBC Africa’s Esther Awoniyi for more.
5 Oct 2019
World Bank to support emerging economies as growth stumbles
9 Dec 2019
Saudi oil giant Aramco raises $25.6 billion in the world's biggest ever IPO, beating a record set by Alibaba in 2014. Meanwhile, OPEC members meet in Vienna to discuss cutting oil production by a further 500,000 barrels a day - more than previously expected.
10 Dec 2019
The Organisation of Petroleum Exporting Countries (OPEC) has agreed to increase output curbs in early 2020. The agreement, which needs to be formally adopted later today, will cut an extra 500,000 barrels per day of production, through tighter compliance and some adjustments. Emmanuel Adeleke, Research Analyst at ARM Securities joins CNBC Africa for more.
19 Apr 2020
As Nigeria extends the lockdown for another 14 days, OPEC and Allies agreed to cut oil production by 9.7 million barrels from the first of May, through to the end of June. Andrew Nevin, Partner and Chief Economist at PwC Nigeria joins CNBC Africa to discuss the implications for Nigeria's economy.
26 Apr 2020
The economic impact of COVID-19 has hit the world economy like a freight train. The aftereffects may be felt for years. But comparisons with World War II should give as much cause for hope as despair.
8 May 2020
Is the view of World War II and V-E Day skewered? That's what British historian James Holland thinks and calls for a realignment of the way we look at those events.
24 May 2020
As South Africa and Nigeria’s government deliberates on easing lock-down restrictions and re-opening the economy, the bank of Ghana has left rates unchanged and the South African reserve bank is expected to cut rates again this week, for the third time this year. Joining CNBC Africa to unpack the Covid-19 economic ramifications on Sub-Saharan African economies is Ridle Markus, Africa Strategist at Absa Corporate and Investment Banking.
31 mins ago
Russia has annexed large swathes of southern and eastern Ukraine, changing the lives of millions of people overnight. Will they accept the status quo, or resist?
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Germany has seen a huge rise in sales of electric heaters as the winter draws nearer. Many fear there will not be enough gas around to heat homes.
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Togo's government has confirmed reports that Burkina Faso's ousted coup leader Paul-Henri Damiba fled there following a mutiny of junior officers. Meanwhile, ECOWAS envoys were being sent to Ouagadougou.
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The Dutch capital Amsterdam has approved a plan to accommodate at least one thousand migrants on a cruise ship moored in the city's port, as the Netherlands seeks to end an accommodation crisis saw asylum seekers sleeping outside a reception center.
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Dadarao Bhilore's son, Prakash Bhilore, was killed when his bike fell into a deep pothole on a Mumbai street. He's now on a mission to fill potholes to save the lives of others.
1 day ago
Paul-Henri Sandaogo Damiba offered his resignation, two days after junior military officers rebelled against his rule. The West African country is experiencing a coup within a coup after January's military takeover.