Economy | - Part 31

Egypt’s Inflation Stays on Target After Monthly Price Plunge

CAIRO (Capital Markets in Africa) = Egypt’s inflation stayed within the central bank’s target range for a second month after the biggest monthly decline in at least over a decade. Consumer prices in urban parts of Egypt slipped 3.4 percent in December from November, according to data released Thursday by the state statistics agency, CAPMAS. The annual rate slowed to 12 percent in December, compared with 15.7 percent the previous month and below the ceiling of the central bank’s goal…

Nigerian Leader Proposes $24 Billion Spending for 2019

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Nigerian President Muhammadu Buhari presented an 8.8 trillion-naira ($24.2 billion) budget for next year to lawmakers after the cabinet agreed to reduce spending plans as the nation struggles to meet revenue targets. Nigeria, Africa’s biggest oil producer and most populous nation, has “recovered from recession” after a slump in 2016, Buhari told a joint session of the Senate and House of Representatives in the capital, Abuja, broadcast live on TV. Key…

The Engines That Will Power the World Economy in the Years Ahead

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – India, Nigeria, Turkey, and others are joining China as the globe’s powerhouses. How will they balance growth and sustainability? On a recent trip to Singapore, I found myself counting cargo ships in the Singapore Strait as I stared out the window of a new high-rise in the Marina Bay Financial Centre. The south-eastern view was unobstructed because several blocks between the building and the bay haven’t yet been developed….

Senegal’s Economic Growth Seen Above 6% This Year, IMF Says

Posted on by The Editorial Team

DAKAR (Capital Markets in Africa) – Senegal’s economy is projected to expand more than 6 percent in 2018, driven by both public and private investment, the International Monetary Fund said. “Growth is supported by strong performances in the construction and services sectors,” the Washington-based lender said Wednesday in an emailed statement. The West African nation’s economy grew 7.2 percent in 2017, according to the IMF. Senegal needs to attract more private investment, improve credit access and tackle energy and…

Kenyan Economy Expands at Fastest Pace in 2 Years on Farming

Posted on by The Editorial Team

NAIROBI (Capital Markets in Africa) – Kenya’s economy expanded at the fastest pace since the second quarter of 2016 as the nation reaps the benefits of a rebounding farm sector. Gross domestic product in East Africa’s biggest economy rose 6.3 percent in the three months through June, from 5.7 percent in the previous quarter, the Kenya National Bureau of Statistics said Friday in a statement emailed from Nairobi, the capital. That was higher than the…

Tunisia’s Economy Takes Second Place as Its Top Leaders Fight

Posted on by The Editorial Team

TUNIS (Capital Markets in Africa) – Tunisia’s economic reforms are at risk of being sidelined by a feud between top leaders. President Beji Caid Essebsi has for weeks been calling on the nation’s prime minister, Youssef Chahed, to either improve his handling of the struggling economy or quit. The turmoil within the governing coalition escalated late Monday when in a televised speech Essebsi said a key Islamist party had openly sided with the embattled premier. The Ennahda…

South Africa, in Grip of Recession, May Mull Rate Increase

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African policy makers may be about to consider whether to follow counterparts from Russia to Turkey and raise interest rates — even when the country is battling a recession. Investors and economists are divided on the chances that officials will respond to emerging-market turmoil with the country’s first upward move in borrowing costs since 2016. While forward-rate agreements suggest there’s a small chance of an increase on Thursday, just three of…

« 1 … 29 30 31 32 33 … 89 »