Business – Page 129 – Maravi Express – Your Kind of News. Clear and accurate.

Chakwera insists on shared prosperity for the Global South

November 20, 2023

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* During the 2nd Voice of the Global South Summit, hosted virtually by Prime Minister Narendra Modi of India * Which is aimed at fostering collaboration and dialogue among countries of the Global South * Seeking common ground on issues ranging from economic equity to climate change By Laison Kamkole Malawi President Lazarus McCarthy Chakwera has underscored the imperative of unity among developing nations to address historical disparities and reshape the global economic landscape. He said this during the…

Construction of Mangochi-Makanjira Road excites Mangochi chiefs

November 20, 2023

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| Agriculture, Business, National, News

Chakwera sampled the state of the road last month * We are happy that our request for the road, which has been overdue, is now being fulfilled—Senior Chief Chowe * The road condition has been a serious concern among the residents of Mangochi, particularly people along the road as well as road users * The road will facilitate inter and intra trade activities—President Chakwera By Bishop Witmos & Maston Kaiya, MANA Chiefs in Mangochi have expressed optimism of an…

Chakwera hails AGCOM project

November 20, 2023

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The President and the First Lady appreciating coffee that has been value added * The K300 billion (US$285 million) World Bank facility is adjusted from US$95 million of the first phase * Will give over one million smallholder farmers a huge boost for them to simultaneously improve livelihoods * Build lasting synergies and enter into new export frontiers within the Africa Continental Free Trade Area and other global markets By James Mwale, MANA President Lazarus Chakwera has hailed the…

One notable outcome of IMF Program is the unlocking of foreign investments

November 20, 2023

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Chakwera won the confidence of the IMF * The ECF arrangement is also expected to catalyze grant financing and capital inflows including foreign direct investment and trade credit * This would pave the way for increased foreign direct investments, fostering productivity and economic stability Analysis by Laison Kamkole One of the substantial benefits of Malawi’s qualification for the extended credit facility (ECF) programme from the International Monetary Fund (IMF), is the unlocking of foreign investments, with several development partners…

Boeing 787 Dreamliner makes landing in Antarctica

November 19, 2023

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* The flight N0787 was no regular passenger route as its 45 passengers included scientists from the Norwegian Polar Institute * Which had contracted the flight to take them and 12 tons of equipment to the Troll research station in Queen Maud Land, Antarctica By Julia Buckley, CNN & Ashish Dangwal, Euro Asian Times There are short runways, bumpy runways and runways that are notoriously buffeted by crosswinds, but here’s a new one for nervous flyers to get alarmed…

ESCOM line vandalism paralyses Lower Shire hospitals and businesses; Mortuaries, labs, pharmacies affected

November 17, 2023

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One of the fallen towers * Nsanje District Hospital is running on diesel-powered electricity generators to keep laboratories, mortuary and vaccine units running * The generator alone consumes 20 litres of diesel per hour to run the service around the hospital * With diesel pegged at K2,734 per litre, it consumes an estimated 400 litres of diesel per day * Which translates to K1,093,600 — too costly for a public facility that survives on the government funding By Peter…

Choice of putting the donor support to good use is upon Malawians themselves—Chakwera

November 16, 2023

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* All his international trips between now and the end of the fiscal year are cancelled — beginning with that for COP28 scheduled at the end of this month * All public-funded international trips for all public officers at all levels on hold including those in parastatals until the end of the financial year in March * All Cabinet members currently abroad on public-funded trips to return to Malawi with immediate effect * Any travel deemed absolutely necessary by…

One condition for IMF to approve ECF was to devalue the kwacha and staggering government expenditure—economic expert

November 16, 2023

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* A 4-year arrangement under the ECF has been approved of US$175 million with an immediate disbursement of US$35 million * To support the country’s macroeconomic adjustment and reform agenda aimed at restoring macroeconomic stability * Building a foundation for inclusive and sustainable growth, and addressing weaknesses in governance By Duncan Mlanjira An economic expert contends that the main reason for the devaluation of the kwacha and the subsequent measures that President Lazarus Chakwera has made in his address…

Fisheries Department bringing sanity to fishing through boat registration and markings

November 13, 2023

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The stakeholders meeting in Nkhata Bay * The exercise will include painting the boats with colour to represent the districts where they come from * Another line of colour will be painted below the boats to indicate the Traditional Authority where the boat is based * Fishing communities along the lakeshore districts to fully participate in the exercise for the success of the initiative By Chisomo Kambandanga, MANA The Department of Fisheries is bringing sanity to fishing through boat…

Peter Mutharika to address press conference Friday in reaction to devaluation of the kwacha

November 13, 2023

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* He will be accompanied by senior members of the DPP to be covered live on a number of media houses from 10:00hrs * The former Head of State is eyeing to contest again for the National Presidency under the DPP * The Party which his brother and former Head of State, late Bingu wa Mutharika founded in 2009 By Duncan Mlanjira Former President Peter Mutharika has announced that he would address a press conference on Friday in reaction…