By Ante Batovic A year after the beginning of the biggest oil price slump in a decade, it is worthwhile to assess the current state of affairs and estimate the costs both for the global economy and the political stability of oil exporting countries. The oil industry was caught unprepared by the sudden slump in oil … Continue reading
By Zachary Fillingham Supply-side downward price pressure has been the story of global energy prices over the past year: newfound supply from the Shale Revolution, OPEC’s gambit of market-share grabbing inundation, and new supply coming online from Iraq and soon Iran. The result was a plunge in oil prices from $115 in mid-June 2014 to below … Continue reading
By Stratfor Global Intelligence The recent fluctuations in China’s currency typify the best and worst of a globalized world, where developments in one place can instantly change the political and financial calculations of governments in others. For most of human history, the communities, cultures and economies of the world existed independently of one another, separated … Continue reading
By Lisa Steyn The decline in the oil price has plunged Africa’s oil and gas industry into dire straits, a situation exacerbated by factors such as uncertain regulation, corruption and the prospect of political and social instability. It is a particular burden on those economies most reliant on the industry for revenue, and could have … Continue reading
Kazakhstan’s currency fell by a record 23% in trade on Thursday, August 20th, after the country abandoned control of its exchange rate, as it became the latest emerging market to scrap efforts to prop up its currency before the U.S. Federal Reserve hikes interest rates. Vietnam’s Central bank has devalued the nation’s currency on Wednesday, August 19th, for the … Continue reading
By Emma Batha India is set to overtake China and become the world’s most populous country in less than a decade – six years sooner than previously forecast, the United Nations said on Wednesday. Fast-growing Nigeria is on course to outstrip the United States by about 2050 to become the country with the third largest … Continue reading
By Ademola Adenle Nigerian President Muhammadu Buhari must make science and technology a priority if the populous West African country hopes to flex its economic muscle. Buhari can achieve these goals by expanding the country’s economy and making it more globally competitive. An important step is to address the damage done to Nigerian science, technology and … Continue reading
By Martin Ganda South Africa’s City Press reports that Turkish company Karadeniz Energy Group has offered to help to solve South Africa’s power problems by supplying its Powerships. Some African countries, like Ghana, get electricity from Powerships; floating power stations that connect to the grid and are powered by oil or gas. If this demonstrates anything, it is how Africa’s power scarcity … Continue reading
Nigeria is likely to be hit by fuel shortages in the approaching weeks as government funds run low and they won’t be able to support payments for gasoline subsidies, Bloomberg reports, citing the head of Seplat Petroleum Development. “In three weeks we will be back to scarcity because we simply don’t have the money to … Continue reading
Originally posted on Quartz:
When you think about the most expensive offices space in the world, cities like New York and London,with their reputations as global financial centers, spring to mind. However, when it comes to pricing, Lagos, the commercial capital of Africa’s largest economy has managed to find a comfortable spot among them. Rentals for…