[ Safaricom Ethiopia Drives Reduced Mobile Data Costs in Ethiopia Since the launch of Safaricom Ethiopia, the cost of mobile data services in Ethiopia has seen a significant decrease of up to 70%. British International Investment (BII), a shareholder in Safaricom Ethiopia, revealed that this UK-backed mobile network operator has played a crucial role in providing millions of Ethiopians access to superfast 4G mobile internet services throughout the country. In collaboration with Safaricom Ethiopia, BII commissioned a report titled “Impact of Investment in the Ethiopian Telecoms Market – The Story So Far” to assess the changes and progress made in…
Author: BRICS+ News Services
Economic Resilience in the Face of Adversity: A Look at Egypt and Israel Amid Houthi Attacks Over the past year, the Middle East has been a theater of escalating tensions and conflicts, with the Houthi attacks playing a particularly destabilizing role. Among the nations affected, Egypt and Israel have remained focal points due to their strategic positions and economic significance in the region. Despite the turbulent environment, both countries have exhibited remarkable resilience, striving to maintain economic stability and growth. Understanding the Houthi Conflict The Houthis, an Iran-aligned rebel group in Yemen, have been involved in a protracted conflict against…
Title: How Proposed Tariffs Could Impact the Indian Economy In recent developments, former U.S. President Donald Trump’s proposal to implement tariffs on imports from all countries has sparked discussions across global economic forums. While this initiative aims to revamp America’s trade landscape, its potential repercussions could extend far beyond U.S. borders, significantly impacting emerging economies like India. The Context Behind the Tariff Proposal The U.S. has a longstanding history of trade imbalances with several countries, including China, India, and European nations. The Trump administration prioritized reshaping trade dynamics by reducing the U.S. trade deficit and attempting to create more equitable…
Title: China and Russia: Pioneers of a Multipolar World Order In an increasingly interconnected global landscape, the emergence of China and Russia as leaders of a multipolar world order is garnering significant attention. The two nations are strategically positioning themselves to challenge the long-standing dominance of Western powers, advocating for a balance of power that reflects the realities of a diversified international community. The concept of a multipolar world is rooted in the distribution of power among multiple nations, allowing for a more inclusive and representative system of global governance. This stands in contrast to the unipolar or bipolar dominance…
Title: Saudi Arabia’s Ambitious Football Project May Not Meet Expectations Riyadh, Saudi Arabia – Saudi Arabia’s recently unveiled grand plan to revolutionize football within the kingdom is reportedly struggling to achieve its anticipated outcomes. Despite substantial financial investments and high-profile initiatives aimed at transforming the nation into a global football hub, the ongoing efforts face scrutiny over their effectiveness and sustainability. The Saudi government has committed billions of dollars to develop football infrastructure, attract international talent, and enhance local leagues. This initiative aims to position Saudi Arabia as a competitive player on the international football stage, in line with its…
Turkey’s Strategic Move: Evaluating Its Potential Entry into BRICS In a rapidly shifting geopolitical landscape, Turkey’s pursuit to join the BRICS group—comprised of Brazil, Russia, India, China, and South Africa—signals an intriguing pivot in its foreign policy strategy. The BRICS nations, known for their significant influence in global economics and politics, present an attractive alliance for countries seeking to diversify their international partnerships beyond Western-centric institutions. Background and Context Over the past two decades, Turkey has consistently projected itself as a pivotal player on the global stage. With its strategic location bridging Europe and Asia, Turkey is uniquely positioned to…
South Africa’s Power-Line Rollout: A Catalyst for Bond Market Revival In recent years, South Africa has faced significant challenges in its energy sector, marked by frequent power outages and a reliance on aging infrastructure. The country has embarked on an ambitious plan to address these challenges, with a new power-line rollout initiative positioned to spur a revival in the bond market. This move is not just a solution to the energy crisis but also a potential stimulant for economic growth. Background of South Africa’s Energy Sector South Africa’s energy woes are primarily attributed to the struggles of Eskom, the state-owned…
Tensions Rise as Israeli Airstrikes Target Iranian Red Crescent’s Field Hospital in Lebanon In a region historically fraught with conflict, the situation on the border between Lebanon and Syria has once again escalated as Israeli warplanes reportedly targeted a makeshift hospital run by the Iranian Red Crescent Society (IRCS) on Thursday. This attack marks another significant episode in a series of hostilities that have ensued since September 23, affecting large swathes of the Lebanese populace. Background of the Conflict Set against a backdrop of enduring geopolitical tension in West Asia, the current hostilities between Israel and Lebanon have historical roots…
China’s Central Bank Unveils 500 Billion Yuan Swap Facility to Bolster Struggling Stock Market In a strategic move aimed at fortifying its beleaguered stock market, the People’s Bank of China (PBOC) announced the introduction of a 500 billion yuan ($71.2 billion) swap facility set to invigorate capital markets and rejuvenate waning investor confidence. This initiative, unveiled on October 10, 2024, represents a pivotal shift in the PBOC’s approach, expanding access to liquidity beyond the traditional banking sector to include securities firms, fund companies, and insurance companies. Context: Pressures Mount on China’s Stock Market China’s stock market has been under strain…
China’s Fiscal Strategies Propel Iron Ore Futures to New Heights In recent developments, iron ore futures saw a noticeable uptick as China’s government unveiled fiscal policies aimed at rejuvenating its economic landscape. This decision is likely to have significant repercussions across global markets, particularly in commodities, as China is one of the world’s leading producers and consumers of iron ore. China’s Economic Landscape and Policy China’s economy, a powerhouse in the global market, has faced significant challenges in recent years. The aftermath of the COVID-19 pandemic disrupted supply chains and led to fluctuating demand across various sectors. Consequently, China’s GDP…