Global Economy Archives - AfricaBusiness.com

14Nov

By Africa BusinessNo Comments

African News

The 10th Forex Conference & Expo Kicks off this Thursday 15 November in Dubai

The show will open its doors in Dubai at 10:00 am on Thursday and will cover online trading currencies, commodities, gold, oil, stocks and derivatives, at Jumeirah Beach Hotel Dubai, and will continue until Friday November 16, 7:00 pm. '' Forex for this year 2012 will witness the participation of Swiss banks specialized in Forex trading along with many trading companies that come for the first time in Dubai. Speaking at the Conference; 15 notable lecturers and speakers from the leading experts and global economic analysts, said Katia Tayar, President of Arabcom Group ; the Organizer of the Event. The Conference provides the perfect opportunity to highlight the trends of the current global capital markets and market expectations in 2013, and it reviews a range of issues of commo...

8Nov

By Africa BusinessNo Comments

African News, South Africa News

Coface projections on SA, Africa and the global economy will have to be tested

By Thandisizwe Mgudlwa Africa is best positioned to provide a thriving business environment, a leading International credit insurer attests. Coface has projected that by 2016, South African exports into Africa will increase significantly but will be offset by an equivalent drop in trade with Europe. The group also says that the will also be an increase in trade with Asia but trade with the US will remain at the current levels. And Garth de Klerk, CEO of Coface South Africa, says: "China will play an important role in SA’s economic future. Currently, 13% of total SA’s exports are to China. They consume 65% of all primary aluminum produced in SA and 70% of all iron ore mined in SA. Notably, China’s biggest export markets in 2011 was the EU at $356-billion followed by the US at...

3Nov

By Africa BusinessNo Comments

African News, Rwanda News

Africa: Shared benefits require bold economic reforms

The seventh African Economic Conference ended on November 2, 2012 in Kigali, Rwanda KIGALI, Rwanda, November 3, 2012/African Press Organization (APO)/ – Participants at the closing session of the seventh African Economic Conference (http://www.africaneconomicconference.org), on November 2, 2012 in Kigali, Rwanda, urged African leaders to put in place bold economic reforms, aimed at sustaining growth and boosting human development. Logo African Economic Conference: http://www.photos.apo-opa.com/plog-content/images/apo/logos/aec-logo.jpg Photo Donald Kaberuka: http://www.photos.apo-opa.com/plog-content/images/apo/photos/donald-kaberuka—afdb-president.jpg The four-day conference highlighted the need for policy-makers to create diversified economies capable of generating e...

11Oct

By Africa BusinessNo Comments

African News

Investors Applaud Hershey’s Vow To Source 100% Certified Cocoa By 2020

Move to certify entire product line seen as significant step to eradicate trafficking and forced child labor on cocoa farms and plantations NEW YORK, Oct. 11, 2012 /PRNewswire-USNewswire/ -- Today, the Interfaith Center on Corporate Responsibility, a shareholder coalition that engages companies on labor and human rights standards in global supply chains, commends the Hershey Company for its commitment to certify all its cocoa by a third party by 2020. With a 43% share of the U.S. chocolate market, the investors view Hershey's decision as an important advancement that is certain to influence the industry and result in more sustainable cocoa farming and production. Said Chris Meyer of Praxis Mutual Funds and co-convener of the Hershey dialogue, "Seventy percent of the worl...

8Oct

By Africa BusinessNo Comments

African News

Despite Global Slowdown, African Economies Growing Strongly― New Oil, Gas, and Mineral Wealth an Opportunity for Inclusive Development

WASHINGTON, October, 2012 – Sub-Saharan Africa is expected to grow at 4.8 percent in 2012, broadly unchanged from the 4.9 percent growth rate in 2011 and largely on track despite setbacks in the global economy, according to the World Bank’s new Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects. Excluding South Africa, the continent’s largest economy, growth in Sub-Saharan Africa is forecast to rise to 6 percent. African exports rebounded notably in the first quarter of 2012, growing at an annual pace of 32 percent, up from the -11 percent pace recorded in the last quarter of 2011. African countries have not been immune to the recent bout of market volatility stemming from the Euro Area crisis, as well as the growth slowdown that is occurring in some ...

22Jul

By The African Press OrganizationNo Comments

African News

IN CHINA, AFRICA, UNITED NATIONS WILL CONNECT THOSE WHO FACE CHALLENGES WITH THOSE WHO HAVE SOLUTIONS, SECRETARY-GENERAL SAYS AT BEIJING FORUM

NEW YORK, July 20, 2012/African Press Organization (APO)/ — Following are UN Secretary-General Ban Ki-moon’s remarks to the Fifth Ministerial Conference of the Forum on China-Africa Cooperation, in Beijing, 19 July: It is a great honour for me to participate on behalf of the United Nations at this important Forum on China-Africa cooperation. I thank the Government of China and the people for their kind invitation and warm hospitality. I commend the leadership of President Hu Jintao in organizing this forum at this very important time in Beijing. I also thank the Government of Egypt for their contribution and leadership and for co-chairing this Forum during the last several years. As the largest developing country, and as the region with the largest number of developing countrie...

9Jul

By AfricaBusiness.comNo Comments

African News

Market Rally Running Out of Steam?

LONDON, July 9, 2012 /PRNewswire/ -- June proved to be a bullish month for stock markets, with investors buying back into the market after three previous months of declines as Central Banks looked to stimulate a slowing global economy. In June, the FTSE 100 gained 251 points or 4.7%. However, having hit resistance at the 5700 level at the end of last week, will the FTSE's charge start to run out of steam? By close of play in the UK on Friday (July 6), all the major indices were firmly in the red, with the Dow Jones leading the way as it fell by over 150 points (over 1%) by 4.40pm (BST). Major indices in the UK and Europe recorded falls too, with the FTSE 100 shedding 30 points and Germany's DAX 30 sliding by over 125 points to close the week at 5662.6 and 6410.1 respectively. L...

7Jul

By Amat JENGNo Comments

African News

ACCESS BANK HOLDS AGM WITH TOTAL ASSETS, CONTINGENTS GROW AT D991 MILLION

by Amat JENG Access Bank (Gambia) Ltd on Wednesday held its fifth Annual General Meeting (AGM) at the bank’s head office along Kairaba Avenue. Started with a required quorum, the meeting witnessed the Chairman board of directors of the bank, Bai Mattar Drammeh, declared total assets and contingents to have grown by 7.7% from dalasi 920 million in 2010 to dalasi 991 million as at end December 2011. “The bank implemented turnaround strategies that resulted to operational profit (before credit loss) of GMD3 million compared to a loss of GMD16 million in [the] year 2010. However, the high level of non-performing loan was a challenge and resulted to further provision,” he said. Mr Drammeh pointed to the global economy slow recovery and said fears of recession “remained prevalent with a rash of ...

9Feb

By AfricaBusiness.comNo Comments

Tanzania News, Zambia News

Africa Loses Billions in Potential Trade Earnings, Falls Short of Vast Promise in Cross-Border Business―New World Bank Report

Washington, February 7, 2012 – With African leaders now calling for a continental free trade area by 2017 to boost trade within the continent, a new World Bank report shows how African countries are losing out on billions of dollars in potential trade earnings every year because of high trade barriers with neighboring countries, and that it is easier for Africa to trade with the rest of the world than with itself. According to the new report―De-Fragmenting Africa: Deepening Regional Trade Integration in Goods and Services―regional fragmentation could become even more costly for the continent with new World Bank forecasts suggesting that economic slowdown in the Eurozone could shave Africa’s growth by up to 1.3 percentage points this year. As the authors write, “while uncertainty surrounds ...