Tanzania Financial News

Army Chief Gen Manoj Pande on Monday began a four-day visit to Tanzania with a focus on building a stronger military partnership between the two countries. Gen Pande is scheduled to meet the top civil and military brass of the east African country including President Samia Suluhu Hassan and Defence Minister Stergomena Lawrence Tax, officials said. «This visit of the Chief of Army Staff further consolidates the high-level bilateral defence engagements and close defence ties shared between India and Tanzania,» the Army said.

Pickleball tournament in Mumbai saw the highest number of participants at 470 and a record number of over 15 sponsors, including Skechers, Decathlon, Selkirk, Franklin, and Pickleball United. Pickleball, often described as a combination of tennis, ping-pong and badminton, has grown nearly 40% in the last three years — making it America's fastest-growing sport. A relatively new and emerging sport in India, it is gaining popularity across age brackets and among CEOs.

By Philip Pullella

Restrictions on food exports are spilling over from rice and wheat to other essentials

Restrictions on food exports are spilling over from rice and wheat to other essentials

This question is playing out in households around the world as they face shortages of essential foods like rice, cooking oil and onions. That is because countries have imposed restrictions on the food they export to protect their own supplies from the combined effect of the war in Ukraine, El Nino’s threat to food production and increasing damage from climate change. For Caroline Kyalo, a 28-year-old who works in a salon in Kenya's capital of Nairobi, it was a question of trying to figure out how to cook for her two children without onions.

Scarborough toddler mysteriously died and another toddler became seriously ill after eating cereal.Francis Ngugi, a friend of the mother of one of the children whose advances she had rejected, admitted in court that he purposefully poisoned the children and took full responsibility for what he called a “shameful and selfish act.”After Ngugi pleaded guilty to second-degree murder in the Superior Court of Justice on Tuesday morning, the 47-year-old began to read a letter he had penned for the mother of Bernice Wamala, the mother of the deceased.As Ngugi began to apologize, the cries of Bernice’s mother drowned out his words, and she slumped over onto the floor.The distraught woman was consoled by crown prosecutors and victim-witness support workers. Ngugi’s letter was filed before he could finish reading it.According to an agreed statement of facts read out in court, Ngugi, a refugee claimant from Kenya who came to Canada in 2018, began working as a janitorial custodian at Griffith Foods, a processing plant in Scarborough.As part of its food processing work, Griffith Foods cures meat products and uses 99 per cent pure food-grade sodium nitrite chemicals to do so.

Lenders to Bengaluru-based wood panel and laminates maker Associate Decor are awaiting the go-ahead from the National Company Law Tribunal (NCLT) more than three years after they approved a bid for the company, in what is an example of legal issues plaguing the seven-year-old Insolvency and Bankruptcy Code (IBC). Tanzania-based METL was declared the preferred bidder by lenders led by Union Bank of India (UBI) in March 2020. Its offer of ₹245 crore for the ₹604 crore debt of the company meant a recovery of 40% for lenders.

JOHANNESBURG—Walmart’s investment in Africa tanked. It is responding by doubling down. More than a decade ago, Walmart spent $2.4 billion to buy a controlling stake in South African retailer Massmart, which also had operations in a dozen other sub-Saharan countries.

NEW DELHI : The growing ties between India and Tanzania may enter a critical phase with President Samia Suluhu Hassan’s official visit to New Delhi, said government officials. The visit is significant given that it follows a series of diplomatic missions by India’s external affairs minister S. Jaishankar to Africa, and Tanzania’s strategic position as the entry point for India to the continent, as stated by the minister during his visit to the country in July, one of the officials said on the condition of anonymity.

Corporations relying on carbon credits to support their green claims now face “robust and credible” proof that the vast majority of such securities aren’t fit for that purpose, according to a study published in the journal Science.

Decentralized wireless (DeWi) network operator World Mobile announced the launch of its app on Google Play for users in the U.S., U.K., Australia, Canada, and Tanzania on August 22. 

Dr Agarwals Health Care has raised about Rs 650 crore from the TPG Growth and Singapore's sovereign wealth fund Temasek, within a year of raising Rs 1,050 crore from them in an earlier round. The Chennai headquartered chain said they would use about Rs 1,200 crore to double their hospital count to 300 in the next 2-3 years. The company is mainly looking to open hospitals in Maharashtra, Delhi and Uttar Pradesh, a shift from its established ground in South India, company Chairman Dr.

Listed microcaps Noble Helium and Cygnus Metals were among a small group of Thursday’s raising candidates, as the reporting season kept chunkier at bay.

Dr. Agarwal's Health Care said on Thursday it raised $80 million from existing investors Singapore's Temasek and U.S.-based TPG as the Indian eye hospital operator plans to double its hospital count. The top shareholder of publicly listed Dr.

lithium that are key to the energy transition. That has led to growing concerns among Western governments, including in Washington, about their dependence on Beijing. Now, some Western companies and investors are starting to build processing plants in Africa so they can refine the raw materials they mine on the continent locally and export them directly to Europe and the U.S.

(Reuters) — CBS News said on Monday Ingrid Ciprian-Matthews, award-winning journalist and veteran news executive, has been named president, after Neeraj Khemlani stepped down from the position on Sunday.

Keeping other aspects of the economy aside, let us have a glance at how the Indian rupee from being a relatively weak currency started its journey toward internationalisation. The value of a country's currency and its usage for global trade are among the key indicators for gauging its economic stride. Banks from 22 countries have opened special Rupee vostro accounts in Indian banks in order to trade in local currency as part of gradual de-dollarisation plans, the Parliament was informed during the just concluded monsoon session of Parliament.

Former Fortescue Metals executive Russell Scrimshaw says his rare earths company will get into production several years sooner because of Wednesday’s decision to partner with China’s biggest rare earths importer.

An international human rights group has denounced Tanzania’s government for detaining critics and urged it to respect freedom of expression and the right to protest

Narendra Modi while speaking at the Akhil Bharatiya Shiksha Samagam marking the three years of National Education Policy (NEP) said that the world is looking at India as a nursery of new possibilities and many countries have also approached for setting up of IIT campuses. "The world is looking at India as a nursery of new possibilities. Many countries are approaching us to open IIT (Indian Institute of Technology) campuses there.