Qatar provides US$18m for the establishment of a kidney center in Ethiopian

ETHIOPIA – The Government of Qatar has signed agreement with the Ministry of Finance of Ethiopia to provide US$18 million for a kidney treatment center under construction in the capital, Addis Ababa. The grant agreement was signed between State Minister of Finance, Admasu Nebebe and Director-General of Qatar Fund for Development (QFFD), Khalifa bin Jassem Al-Kuwari, representing the Government of Qatar. The kidney center, which will be six story building, is expected to have 77 beds for treatment of patients with severe kidney problem. It is also indicated that when…

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Qatar Petroleum acquires Yara’s 25% stake in QAFCO for US$1 billion

QATAR – Qatar Petroleum (QP) has signed an agreement with Yara international to acquire its 25 percent stake in Qatar Fertiliser Company (QAFCO) for $1 billion, a joint QP, Yara statement has revealed. The transaction will mark a end of a partnership that started with the establishment of  QAFCO, a joint venture, in which Yara owned a 25% share with the remaining 75% owned by Industries Qatar (IQ). QAFCO since then has become the world’s largest single-site urea producer, representing a significant percentage of the world’s traded urea volume, according…

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Ecuador to exit OPEC amid rising volatility in global oil market

GLOBAL – Ecuador one of the smallest oil producers has said that it would exit the Organisation of the Petroleum Exporting Countries (OPEC) in January next year. The Resources Ministry of the South American country said that the decision to leave was rooted in the issues and internal challenges that the country needed to bear for it to secure fiscal sustainability. Ecuador, however added however that it would continue to support all efforts that seek to stabilise the world oil market. Oil prices which used to have a predictable swing…

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