The operator of the Keystone oil pipeline said it planned to restart the system Monday after a spill onto farmland in North Dakota last week shut down the line. South Bow said it’s watching inclement weather conditions before beginning “a carefully controlled restart” that will include 24/7 monitoring, reduced operating pressures, cleanup of the site and compliance with federal regulators’ requirements. The […]
It’s been just days since China responded to US tariffs with its own set of eye-watering levies, but one corner of the petroleum market is already in crisis as bilateral trade collapses between the two heavyweights. The price of propane, a type of liquefied petroleum gas, has plummeted in the US because selling to China, […]
Though President Donald Trump has said his aggressive tariff strategy, unveiled this week, will make the markets “boom,” it has so far resulted in a rout, with U.S. equity markets suffering their worst week since March 2020 and more pain likely on the way. And that’s sending ultra-wealthy investors to seek refuge from the financial storm abroad. The […]
Multilateral Bank African Export-Import Bank (Afreximbank) has officially commissioned its first Afreximbank African Trade Centre (AATC) today in Abuja, Nigeria, ushering in a transformative era for trade and investment in Africa. During the grand commissioning ceremony, speakers, including Hon. Dr. George Akume, Secretary to the Government of Federation, Nigeria representing H. E. Bola Ahmed Tinubu […]
Alphabet and Nvidia have joined prominent venture capital investors to back Safe Superintelligence (SSI), a startup co-founded by OpenAI’s former chief scientist Ilya Sutskever that has quickly risen to become one of the most valuable artificial intelligence startups months after its launch, a source familiar with the matter said. The funding illustrates renewed interest from the […]
Argentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso. The IMF will disburse $12 billion by next Tuesday, while another $2 billion […]
Egypt’s National Railways Authority signs three contracts with American company Progress Rail (PRL) to modernize 100 Henschel locomotives, supply spare parts for 141 units over 15 years, and provide technical support for 10 years, as per a statement. As part of a $235 million agreement witnessed by US Ambassador to Cairo Herro Mustafa Garg, the […]
Europe’s imports of liquefied natural gas (LNG) are set to increase by a quarter this year, as the continent needs to offset lower pipeline gas supplies amid a weather-driven rise in demand, the International Energy Agency (IEA) said on Friday. “Over the whole of 2025, European LNG imports are expected to increase by 25%, or […]
Stitch, a South African fintech specializing in open banking and payment infrastructure, has raised $55 million in a new funding round from existing investors, bringing its total funding to $101 million across all rounds. Raba Partners, an Africa-focused venture capital firm, contributed $4.2 million to the round. The funding follows Stitch’s recent expansion efforts, including the […]
The European Bank for Reconstruction and Development on Thursday launched a programme worth 377 million euros ($417 million) to help small and medium-sized enterprises develop new technologies in the Western Balkans. The programme, developed with the support of the European Union, will combine loans, grants and technical assistance for investments in digitalisation, automation and green […]