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Coronavirus - IMF Approves $745 Million Loan For Tunisia

Coronavirus: IMF Approves $745 Million Loan For Tunisia

April 11, 2020 6:04 am
The International Monetary Fund (IMF) on Friday announced the approval of a 745-million-dollar loan to help Tunisia cope with the economic fallout of the coronavirus pandemic.

Mitsuhiro Furusawa, the IMF deputy managing director said in a statement said, “The COVID-19 pandemic has hit Tunisia hard and will worsen the country’s already elevated macroeconomic imbalances and will also create urgent fiscal and balance of payment needs.”

According to the IMF, the North African country’s economy is expected to contract by 4.3 percent in 2020, in what is speculated t be the worst recession since the country’s independence in 1956.

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sex Virus Fears Hit World's Oldest Profession - Prostitution

Virus Fears Hit World’s Oldest Profession: Prostitution

April 10, 2020 6:11 pm

“Being a prostitute has always been a good option in times of crisis… until this one,” says Bruno, a sex worker who fears catching the deadly coronavirus at a time when those in his trade are more vulnerable than ever.

One of approximately a million sex workers in the United States, Bruno — not his real name — has stopped taking clients in the past month as the once-in-a-century pandemic arrived in America.

Like most legal trades, demand for the 33-year-old’s services has plummeted with much of the country staying home under lockdown.

But Bruno, who is based in the …

Buhari, Others Hail Dangote As He Marks Another Year

Buhari, Others Hail Dangote As He Marks Another Year

April 10, 2020 12:55 pm

Nigerians and Africans in the social media have celebrated Aliko Dangote, Africa’s richest businessman and philanthropist.

The cement mogul, who is building one of the world’s biggest petrochemical complexes in Lagos, is 63 today.

And there is no animus against the man, who has symbolised industry and success in Africa’s most populous country.

Most comments on Twitter celebrating his special day all praised him.

Read Also: Nigerians Will Surely Defeat Coronavirus – Dangote

And there were some jokingly appropriating Aliko as ‘their uncle’, ‘brother’ or family member.

President Muhammadu Buhari earlier wished the businessman a happy birthday.

He described him …

Asian Markets Rise After Fed Stimulus Boosts Wall St

Asian Markets Rise After Fed Stimulus Boosts Wall St

April 10, 2020 8:04 am

Asian markets were mostly higher on Friday after the latest US coronavirus stimulus measures boosted Wall Street overnight.

In its latest attempt to ease the economic pain inflicted by the COVID-19 pandemic, the US Federal Reserve said it would pump $2.3 trillion through new lending programmes.

The pandemic has now claimed more than 94,000 lives around the world and hammered economies, sending governments and central banks scrambling to put together unprecedented, massive emergency measures.

The strong close on Wall Street boosted Tokyo’s benchmark Nikkei 225, which finished 0.8 percent higher.

The market remains in a “tug-of-war between those who are …

Nigeria, South Africa Going Into Recession - World Bank

Nigeria, South Africa Going Into Recession: World Bank

April 10, 2020 7:15 am

The World Bank Group said on Thursday that Coronavirus will drive many African countries, such as Nigeria, South Africa and Angola into recession, the first for Sub-saharan bloc in 25 years.

In a statement, the bank said growth in Africa will fall sharply from 2.4 per cent in 2019 to -2.1 to -5.1 per cent in 2020.

“While most countries in the region have been affected in different degrees by the pandemic, real gross domestic product growth is projected to fall sharply, particularly in the region’s three largest economies like Nigeria, Angola, and South Africa, as a result of persistently

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Coronavirus Plunges World Economy Into Brutal Recession

Coronavirus Plunges World Economy Into Brutal Recession

April 8, 2020 6:11 pm

Measures imposed to slow the spread of the coronavirus are pushing the world economy into a recession deeper and more painful than initially expected, even if a rebound is still on the cards for next year.

A week before the International Monetary Fund updates its forecasts for the global economy that will take into account the initial damage incurred since the coronavirus emerged in China at the start of the year, the first sets of data are coming in.

France’s central bank estimated Wednesday that the country’s economy contracted by around six percent in the first three months of 2020,

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Airbnb Gets $1bn Investment For Post-Virus Recovery

Airbnb Gets $1bn Investment For Post-Virus Recovery

April 7, 2020 6:20 pm

Airbnb on Monday announced it was taking a billion dollars in new investment to endure and, it hopes, thrive in a travel world transformed by the coronavirus pandemic.

Silver Lake and Sixth Street Partners will invest the money into the home-sharing platform in the form of debt and equity, according to Airbnb.

“While the current environment is clearly a difficult one for the hospitality industry, the desire to travel and have authentic experiences is fundamental and enduring,” Silver Lake managing partner Egon Durban said in a release.

“Airbnb’s diverse, global, and resilient business model is particularly well suited to prosper

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Tanzania To Combat Cannabis Farming

5 Lucrative Farming Businesses In Nigeria

April 7, 2020 7:02 am
It is already an over flogged point that number one panacea for the country’s underdevelopment is real diversification from oil (which is currently Nigeria’s economic mainstay) into farming.

Agricultural revolution is highly required for the country’s craved industrial revolution.

Times without number experts have said this, the academics have laboriously stressed it, and government at all levels have continued to engage in sensitisation campaigns.

Nigerians are asked daily to go back to farm. It’s clearly the direction the country is heading.

Therefore, any Nigerian who is ready to heed the call would need to know which areas or aspects of …

Apple To Ship 1m Face Shields A Week For Medical Workers

Apple To Ship 1m Face Shields A Week For Medical Workers

April 6, 2020 5:57 pm

Apple has said it will soon be producing one million face shields a week for medical workers battling the coronavirus pandemic.

The tech giant had already sourced 20 million surgical masks from around the world to help address a global shortage, chief executive Tim Cook said in a video posted to Twitter on Sunday.

But the company had also designed its own transparent protective face shield and begun mass production at its factories in the US and China, he added.

“We plan to ship over one million by the end of this week,” said Cook.

Read Also: France Slams €1.1bn

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Scared But Desperate, Thai Sex Workers Take To Streets

Scared But Desperate, Thai Sex Workers Take To Streets

April 5, 2020 6:07 pm

A shutdown to contain the coronavirus has killed Thailand’s party scene and forced sex workers like Pim out of bars and onto desolate streets. She’s scared but desperately needs customers to pay her rent.

Red-light districts from Bangkok to Pattaya have gone quiet with night clubs and massage parlours closed and tourists blocked from entering the country.

That has left an estimated 300,000 sex workers out of a job, pressing some onto the streets where the risks are sharpened by the pandemic.

“I’m afraid of the virus but I need to find customers so I can pay for my room …

Aba Commences Production Of Masks, Protective Kits

Abia Commences Production Of Masks, Protective Kits

April 5, 2020 6:31 am

Abia Government has started production of certified quality standard protective medical kits and masks to carter for the needs of Nigerians and bridge the scarcity of imported ones.

Mr Sam Hart, the Director-General, Abia State Marketing and Quality Management Agency, disclosed this in an interview with the News Agency of Nigeria (NAN) in Aba on Saturday.

He said that Gov. Okezie Ikpeazu initiated the project to ensure Abia people were not exploited during this period but were protected from the ravaging COVID-19 infections.

Read Also: Bill Gates: Coronavirus Vaccine Will Work Well In Africa

“The governor does not want Abia

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Corona Beer Maker Suspends Production

Corona Beer Maker Suspends Production

April 3, 2020 8:46 am

The Mexican brewer of Corona beer said it was suspending production because of the health emergency in the country over the COVID-19 pandemic.

Grupo Modelo — whose brands also include Pacifico and Modelo — said the measure was in line with the Mexican government’s order.

The government has ordered the suspension of all non-essential activities until April 30 to slow the spread of coronavirus.

“We are in the process of lowering production at our plants to the bare minimum,” the company said in a statement on Thursday.

Read Also: Oil Rockets As Trump Signals End To Price War

The suspension, …

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𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

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