Author: Ableditor

Dangote Petroleum Refinery plans to pursue a listing on the New York Stock Exchange after expanding its refining capacity to 1.4 million barrels per day by 2029. Aliko Dangote, chairman of Dangote Industries Limited, said the refinery will first pursue its primary listing in Nigeria before seeking a listing in the United States following the completion of its expansion. The Lagos-based refinery currently has a refining capacity of 700,000 barrels of crude oil per day. The planned $14.3 billion expansion is expected to double that capacity to 1.4 million barrels per day by the first quarter of 2029, potentially making…

Bitcoin surged above $85,000 on Monday, September 21, 2026, reaching its highest level since January as the world’s largest cryptocurrency extended its latest rally. Bitcoin climbed as high as $85,412, its strongest price since January 29, according to market data cited by Barron’s. The cryptocurrency gained about 4.7% over 24 hours during Monday’s rally. The latest advance comes after Bitcoin recovered sharply from last week’s weakness, when its price fell toward the $75,000 level amid concerns over US monetary policy and broader financial-market conditions. The rally has also been supported by significant short-position liquidations. More than $262 million in Bitcoin…

A drone attack on Saudi Arabia’s critical East-West oil pipeline has sent a fresh shock through global energy markets, raising concerns over crude supplies, fuel prices, inflation and economic growth at a time when the world is already dealing with major disruptions to Middle Eastern energy flows. The attack forced Saudi Arabia to shut down the 1,200-kilometre East-West Pipeline, also known as Petroline, which transports crude from the kingdom’s oil-producing regions in the east to the Red Sea port of Yanbu. The route is strategically important because it allows Saudi Arabia to move crude to international markets without relying entirely…

LONDON — European oil refiners are facing a potential crude supply squeeze next month after Saudi Aramco reportedly told at least two European customers that they will receive no Saudi crude in October following the shutdown of the kingdom’s key East-West pipeline. The disruption follows drone attacks that damaged three pumping stations along the pipeline, forcing Saudi Arabia to suspend operations and disrupting crude loadings at the Red Sea port of Yanbu. European refiners normally receive Saudi crude through long-term contracts that provide regular monthly supplies. According to reports citing people familiar with the decision, the October allocations will not…

NAIROBI, Kenya — Kenya’s adoption of fifth-generation mobile technology has accelerated, with the number of 5G subscribers rising to 2.1 million by June 2026, up from 1.2 million a year earlier. The latest figures from the Communications Authority of Kenya (CA) represent a 75 percent increase in the number of subscribers using 5G services over the 12-month period. The milestone pushes Kenya’s 5G subscriber base past the two-million mark for the first time. The growth comes as mobile operators continue to expand high-speed network infrastructure while consumers increasingly adopt smartphones and services that require faster and more reliable connectivity. The…

NAIROBI, Kenya — Kenya’s foreign exchange reserves declined by $165 million in the week ending September 17, even as the Kenyan shilling remained broadly stable against the US dollar. Data from the Central Bank of Kenya (CBK) shows that the country’s forex reserves stood at $15.088 billion as of September 17, down from $15.253 billion a week earlier. The latest reserves are equivalent to 6.1 months of import cover, remaining above the CBK’s statutory minimum requirement of four months. The decline represents a reduction of about $165 million, or roughly KSh21 billion at current exchange rates. Despite the fall in…

NAIROBI, Kenya — Absa Bank Kenya and Vivo Energy Kenya have entered into a financing partnership that will provide Shell service station dealers and investors with long-term funding to expand the fuel retail network across the country. The partnership is designed to address one of the major capital requirements facing fuel station operators: the substantial upfront costs involved in securing land and developing new service stations. Under the arrangement, eligible Vivo Energy Kenya dealers will be able to access financing for advance rent payments to landowners and construction of additional service station sites. This is expected to allow dealers to…

Google’s Gemini artificial intelligence model accessed and breached the systems of three real companies during a cybersecurity evaluation in May, marking the first publicly known instance of a Google AI system autonomously carrying out such intrusions. The incidents occurred during a cybersecurity test conducted by Irregular, an independent AI security evaluation company. Gemini was being assessed in a simulated “capture the flag” exercise designed to test its ability to identify and exploit vulnerabilities in a fictional company’s systems. However, an unexpected combination of internet access and a naming overlap caused the test to spill into the real world. The fictional…

There are few countries whose national identity is so closely intertwined with athletics as Kenya. From the dusty school tracks of the Rift Valley to the world’s biggest stadiums, generations of Kenyan athletes have turned running into more than a sport. It has become a source of national pride, a pathway out of hardship, a profession, a community tradition and, for some, a route to global fame. Now, with Nairobi set to host the 2029 World Athletics Championships, Kenya’s remarkable relationship with the sport is entering another chapter. The championships will be the first edition of World Athletics’ flagship event…

World Athletics announced Nairobi as the host city following its 242nd Council Meeting in Budapest on September 15, 2026. Munich, Germany, was selected to host the 2031 edition. The decision marks a major milestone for Kenya, a country whose sporting identity is closely associated with athletics and whose athletes have dominated several middle- and long-distance events on the international stage. The 2029 World Athletics Championships will be staged at Kasarani Stadium, which is currently undergoing a major renovation ahead of the 2027 Africa Cup of Nations. The stadium will then have two years to prepare for the World Athletics Championships.…