Guinea Financial News

London | The scramble to find more projects intransition materials such as copper and lithium has prompted a strategic rethink at Rio Tinto, with a push into smaller mines and potentially riskier frontier locations.

Rio Tinto has loaned $US100 million ($156.9 million) to the Chinese and Singaporean companies that will build railways and ports for Guinea’s Simandou iron ore project, in a major show of faith in its consortium partners, rival miners and the grand plan to build an African iron ore industry.

India has allowed the export of non-basmati white rice to the tune of 75,000 tonnes to the UAE. Notably, the export of non-basmati white rice was prohibited from July 20 to check the domestic prices and ensure domestic food security. The exports to UAE are permitted through National Cooperative Exports Limited, the Directorate General of Foreign Trade said in its notification on late Monday evening. While amending the export policy, DGFT maintained that the export will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on the request of their government. Last month, India had decided to allow the export of rice to «meet the food security requirements» of Singapore. West African country Benin is one of the major importers of non-basmati rice from India.

By Clara Denina

LONDON : Russia has stepped up imports of the aluminium feedstock alumina from India in recent months to supply its vast Siberian plants, a move that diversifies the sanctions-hit country's supply, helps reduce dependence on China and cuts costs. After invading Ukraine, the world's second biggest producer of aluminium lost two crucial sources of alumina, used to make aluminium metal, as a refinery in Ukraine suspended production and Australia banned supplies to Russia. While Russia and China are on friendly terms, aluminium production in China is rising, leaving less price flexibility for Russia to buy alumina.

A flotilla of flimsy boats, crowded with migrants and launched from Tunisia is overwhelming a tiny Italian island south of Sicily

(Reuters) — The United States and Saudi Arabia are in talks to secure metals in Africa needed to help them with their energy transitions, the Wall Street Journal reported on Sunday, citing people with knowledge of the talks.

Rescue teams in Turkey, Greece and Bulgaria have recovered the bodies of seven more people following floods after fierce rainstorms

Ali Bongo's third-term victory in a disputed election. The military intervention, marking the eighth such instance in West and Central Africa since 2020, has raised concerns about the erosion of democratic progress in the region. With echoes of recent military takeovers in nearby countries like Mali, Guinea, and Burkina Faso, the situation highlights the fragility of political stability and the complex challenges facing the African continent.

Sierra Leone says it is working with neighboring countries to step up the fight against piracy in the Gulf of Guinea after a Chinese fishing vessel was hijacked in its waters earlier this week

rice. This has led to long queues outside Indian grocery stores in the region. The English daily mentioned that several grocery stores in major cities in Texas, Michigan, and New Jersey are crowded with people, especially from the Tamil community.

food ministry data, the retail price of the grain climbed about 15%  in Delhi this year while the average nationwide price gained more than 8%. Shipments will be allowed on the basis of permission granted by the government to other countries to meet their food security needs and based on request of their governments, the notification said.  The latest Indian government move, which has already imposed restrictions on wheat and sugar exports, would affect a large portion of global rice trade.

Atishi on Thursday termed «horrific» a May 4 video of two women being paraded naked in Manipur and hit out at Prime Minister Narendra Modi, saying though he had time to visit foreign countries, he hasn't yet gone to the strife-hit northeastern state. Tension mounted in the hills of Manipur after the video surfaced on Wednesday. The state has been witnessing ethnic clashes since May 3 between the majority Meitei community, concentrated in the Imphal Valley, and the tribal Kukis, occupying the hills.

Bloomberg, Forty-two African nations received about $12 billion or 38% of all credit extended by India in the last decade — just a few percentage points below its neighbours, Harsha Bangari, the managing director of India’s Export-Import Bank said in an interview. According to Bangari, the bank serves as a tool for India's "economic diplomacy." He further mentioned that India has established 195 project-based lines of credit throughout Africa, a number three times higher than the ones it has implemented in its own region over the past decade, Bloomberg reported.

Africa has become the second-largest recipient of credit from India as the country tries to catch up with China in expanding its influence in the resource-rich continent. Forty-two African nations received about $32 billion or 38% of all credit extended by India in the last decade — just a few percentage points below its neighbors, Harsha Bangari, the managing director of India’s Export Import Bank said in an interview.

The swift rise of artificial intelligence (AI)- generated art has shaken creatives across various industries. While many have highlighted copyright infringement issues involving AI-generated art, not all artists are against the fusion of AI and their intellectual property. 

Thirty two central bankers and 12 financial chiefs representing 44 nations will meet in El Salvador later today, per the nation’s President Nayib Bukele, who claimed that – among other things – the group will discuss bitcoin (BTC).