Business & Economics :: Economics

• Sudan government imposes temporary ban on 19 imports to support currency

  Khartoum: Sudan has imposed a temporary import ban on selected foods and other items in an effort to protect its currency and narrow its budget deficit after the end of US trade sanctions in October, the government said. The Sudanese pound has been weakening against the dollar since Washington lifted 20-year-old economic embargo, paving the way for traders to step up import volumes and putting pressure on already scarce hard currency   Read More ...

• US investors eye Sudan exiting from terror sponsors list - CCA - Economics - 08/12/2017

  KHARTOUM, Dec 8 (KUNA) -- President and CEO of the Corporate Council on Africa (CCA) said Sudan is unlikely to benefit from foreign investment after lifting the economic sanctions unless it exits from the US list of State Sponsors of Terrorism. The US administration decided early last October to ease the economically focused sanctions on Sudan but kept the country on the list of terror sponsors, Florie Liser, who leads a US trade mission to Sudan, noted in statements to KUNA on Friday   Read More ...

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  Sudan’s Bashir to convene meeting over economy

  Sudanese President Omar Al-Bashir is expected to convene a high-level meeting today at the presidential palace to discuss the economic status including currency fluctuations. Over the last week, the Sudanese currency kept dropping drastically against the US dollar in the black market. First Vice President Bakri Hassan Saleh, head of the national security and the minister of finance are expected to attend the meeting   Read More ...

• Bahrain, Sudan to enhance economic cooperation

  Manama: Bahraini Finance Minister, Shaikh Ahmad Bin Mohammad Al Khalifa, has received Abdul Rahman Derar, Minister of State at the Sudanese Ministry of Finance and National Economy. According to Bahrain News Agency, the two delegations discussed means of enhancing cooperation in areas relating to finance, Economy and investment. They also reviewed ongoing financial and economic programmes in the two countries. Separately, the Bahraini Finance Minister received Joachim von Amsberg, Vice President for Policy and Strategy, Asian Infrastructure Investment Bank (AIIB)   Read More ...

• UAE Ambassador, Sudan finance minister discuss cooperation

  KHARTOUM Hamad Mohammad Humaid Al Junaibi, UAE Ambassador to the Republic of Sudan, and Mohammad Osman Suliman Al Rikabi, Minister of Finance and Economic Planning of the Republic of Sudan, have met to discuss cooperation between the two countries. During the meeting, the Sudanese Minister and the UAE Ambassador reviewed bilateral relations and means of boosting them in the field of Economic and development cooperation   Read More ...

• Sudan's inflation tops 34 pct in July after U.S. defers sanctions ruling

  Sudan's annual inflation rate rose to 34.23 percent in July from 32.63 in June, the central statistics office said on Monday, partly reflecting the postponement of a U.S. decision on whether to lift economic sanctions permanently. The Sudanese pound has weakened and prices have climbed since the United States said on July 11 it was deferring the sanctions decision for three months   Read More ...

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  Currency slides, prices jump as Sudan grapples with sanction decision

  KHARTOUM: Sudan's struggling economy took another hit this week after the United States postponed a decision on lifting sanctions, causing the Sudanese currency to slide, prices to rise and businesses to halt sales. The United States last week postponed for three months a decision on whether to permanently lift 20-year economic sanctions that have hobbled the Sudan's economy and cut it off from the global banking system   Read More ...

• Sudan says joining AIIB a turning point to break economic isolation

  Sudanese economic analysts said Wednesday that Sudan's joining the Asian Infrastructure Investment Bank (AIIB) is a turning point in breaking its economic isolation. Mohamed Al-Nayer, a Sudanese economic analyst, told Xinhua that the move came at a time when Sudan is suffering from a U.S. economic siege that has continued for about 20 years. "Sudan's joining the AIIB will be a turning point, particularly when the bank is concerned with infrastructure," he said   Read More ...

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  Revival beckons for Sudan as US lifts economic sanctions

  Nairobi: The US removal of sanctions on Sudan may unlock the potential for the government to tap its rich mineral and agriculture resources. Now the African state needs to carry out the large-scale reforms required to attract investors. Former President Barack Obama’s January 13 executive order reversed some measures put in place by the US in 1997, four years after it first listed Sudan as a state sponsor of terrorism.   Read More ...

• Sudan inflation rises to 30.47 pct in December

  Sudan's annual inflation rate rose to 30.47 percent in December from 29.49 percent in November, the Central Statistics Office said on Wednesday, as food and energy prices kept rising after subsidies were cut in early November. Sudan's economic problems have been building since the south seceded in 2011, taking with it three-quarters of the country's oil output, its main source of foreign currency and government income. A dollar shortage and   Read More ...

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  US lifts 20-year economic embargo on Sudan

  The United States has announced the end of a 20-year economic embargo on Sudan, lifting trade and financial sanctions in an effort to foster ties with the Sudanese government. The announcement made by outgoing President Barack Obama’s administration on Friday comes after an executive order to permanently repeal a range of sanctions as a result of Sudan’s efforts to improve security in the region. For the first time in two   Read More ...