Southern Africa is reeling under an unprecedented dry spell. The region’s worst drought in over three decades has unleashed a severe hunger crisis. It is also taking a huge toll on economy. Ethiopia will miss the targeted economic growth due to the agriculture mayhem, caused by the El Nino weather phenomenon. Food imports are stuck in port logjams and the …

Catherine Putz SPECIAL TO EMIRATES BUSINESS Afghan refugees have returned to the headlines as European countries pursue avenues to send many of those waiting for asylum back to Afghanistan. A larger number reside in Pakistan and Iran, where they are stuck in the limbo of refugee camps. Meanwhile, many of those who have already returned remain in a difficult situation, …

Markets had a predictable immediate reaction to comments by Federal Reserve Chair Janet Yellen on Tuesday that they interpreted as relatively dovish signals about the thinking of the world’s most important central bank. Within minutes of her remarks, risk assets rose, government bond yields fell, the dollar weakened and the VIX declined. Sustaining this trend will require two policy signals, …