Kenya lost over Ksh6 billion to fines tied to unspent foreign loans and delayed payments in major projects, says Auditor General Nancy Gathungu. Several high-profile initiatives in health, roads, and irrigation faced heavy penalties as a result of poor financial planning and missed deadlines, sparking urgent demands for stricter accountability.
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Bitcoin's price has surged past the $80,000 threshold for the first time, inciting excitement across the crypto world. This leap followed Donald Trump securing an election victory, which he capitalized on by pledging to bolster the cryptocurrency sector. The coin's price, previously peaking at $73,737 in March, saw new heights with a recent high of $80,137 according to Coinbase data.
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Concerns about inflation and recession are mounting, driven by high energy prices and disrupted supply chains. Central banks like the Federal Reserve and the ECB face the daunting task of curbing inflation without stalling growth. As the world grapples with post-pandemic recovery, uneven growth and geopolitical tensions further complicate the economic landscape. Policymakers must tread carefully to balance these challenges.
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The UK's economy has recorded an unexpected 0.3% growth in Q2 2024, challenging previous forecasts and displaying resilience against global economic uncertainties. This growth is largely driven by consumer spending and a robust service sector. Chancellor Rachel Johnson and the Bank of England express cautious optimism while managing inflation and considering interest rate hikes.
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OKX is set to introduce new USDC spot trading pairs on May 20, 2024, aiming to broaden the trading possibilities for its users and expand the USDC ecosystem. The initiative showcases OKX's commitment to meeting the diverse needs of its traders and enhancing the overall crypto trading experience. The exchange reminds users of the inherent risks in digital asset trading and the importance of informed decision-making.
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