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US public debt reaches record high of more than $22 trillion

The US public debt has reached a record high of more than $22 trillion, according to data released by the US Treasury Department. Total outstanding public debt stands at $22.01 trillion as of Feb. 11, the Treasury Department’s daily statement showed Tuesday. “The national debt has now eclipsed $22 trillion, …

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IMF warns Uganda’s debt ratio to GDP will rise to 49.5% in two years

The International Monetary Fund (IMF) on Tuesday warned that the ratio of Uganda’s public debt to Gross Domestic Product (GDP) will rise to 49.5 percent by 2021/22 financial year because of continued large fiscal expenditure by the government. The international lending body said over the past five years, Uganda’s budget …

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Australian government defeated in parliament for first time in 78 years

The Australian government has suffered an historic defeat, losing a vote on the floor of the House of Representatives for the first time since 1941. The Opposition Australian Labor Party (ALP) joined forces with the Greens and independent Members of Parliament (MPs) to pass the medical evacuations bill by 75 …

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US soybeans, grains rally over China trade optimism, export data   

Chicago Board of Trade (CBOT) agricultural futures closed higher on Tuesday over optimism on US-China trade talks and upbeat export data. The most active soybean contract for March delivery was up 12.5 cents, or 1.38 percent, to settle at $9.175. March corn was up 5.5 cents, or 1.48 percent, to …

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WHO, ITU unveil new standard for hearing-safe audio devices

The World Health Organization (WHO) and the International Telecommunication Union (ITU) issued on Tuesday a new international standard for the manufacture and use of personal audio devices, including smartphones and audio players, to make them safer for listening. The standard was developed under WHO’s “Make Listening Safe” initiative, which seeks …

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Namibian women to benefit from amendment of apartheid marriage law

Hundreds of thousands of married women in the northern part of Namibia will begin to have access to inheritance after the deaths of their husbands, following proposed amendment to an apartheid marriage law recently. The proposed amendment will see more than half of the country’s married women in the northern …

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AU’s efforts at financial independence gains momentum

The African Union’s financial independence is gaining momentum as the African continent aspires autonomy from reliance on outside sources. Advancing institutional reforms and financial autonomy of the 55-member pan-African bloc are among the aims at the two-day 32nd ordinary session of the assembly of the AU, which opened Sunday at …

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Tanzanian small-scale miners excited at nuisance taxes removal 

Tanzania’s small-scale miners have thanked President John Magufuli after Parliament last week endorsed a bill designed to reduce taxes imposed on mining. “We thank President Magufuli on behalf of more than 6 million small scale miners across Tanzania for the recent mining taxation amendments approved by Parliament last week,” said …

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AU to launch operations of continental free trade area in July  

The African Union (AU) Commissioner for Trade and Industry Albert Muchanga on Sunday said he expected the African Continental Free Trade Area (AfCFTA) to formally launch operations in July this year. Speaking during a press conference on the sidelines of the 32nd Ordinary Session of the Assembly of the AU …

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