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Egypt: Dozens of Egyptian Firms to Participate in 2018 Stone Fair in China

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About 28Egyptian marble companies will participate in an international stone fair scheduled to open in China in March 2018, official MENA news agency reported Thursday. “The Xiamen International Stone Fair is one of the biggest fairs for stones in the world and it displays the latest techniques in this field,” MENA quoted Walid Gamal al-Din, chairman of the Export Council ...

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Liberia: Morocco, Liberia Vow to Strengthen Bilateral Ties

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Morocco and Liberia expressed on Monday their strong willingness to strengthen bilateral ties. The willingness was made during a phone call between Morocco’s king Mohammed VI and Liberia’s President-elect George Weah, according a statement from the Moroccan king’s office. On this occasion, the king reiterated his warmest congratulations to Weah following his election as Liberia’s president, the source said. During ...

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Regulator drops plan to split up Safaricom

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A revised competition report by the telecommunications industry regulator has dropped the controversial proposal calling for the splitting of Safaricom into separate business units, drawing the ire of its rivals. Airtel, Kenya’s second-biggest telecommunications company after Safaricom, hit out at the Communications Authority of Kenya (CA), saying failure to finalise the dominance debate and watering down of the report was hurting ...

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Treasury’s appetite for foreign debt seen as shilling’s biggest risk

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Kenya’s growing appetite for foreign debt could be the largest risk to the shilling’s stability this year as local factors including drought and prolonged politicking that dominated last year give way to external shocks. The currency was fairly stable in the past year – barely half a percentage weaker – supported by a central bank that constantly mopped up liquidity ...

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Rwanda central bank trims key repo rate to 5.5% from 6% previously

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The Rwandan central bank trimmed its key repo rate to 5.5 percent from 6 percent previously, the bank’s governor announced on Thursday. Governor John Rwangombwa said the government wanted to continue to drive economic growth. “We decided to reduce the repo rate from 6 percent to 5.5 percent to continue supporting the financing of the economy and we are building ...

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Rand enjoys best quarter in more than seven years

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Robust economic growth, a soft dollar and subdued borrowing costs helped emerging stocks race towards the 2017 finishing line on Friday as the year’s best performing asset class, while many currencies also looked back on solid gains. MSCI’s emerging equity benchmark rose 0.4 percent on the year’s last trading day, having added 34 percent since January – their best annual ...

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Fuel Supply Improves in Lagos, Scarcity Persists in Abuja

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Marketers attribute crisis to NNPC’s $6bn crude-for-product swap deal • Crude oil slips towards $65 as Forties Pipeline moves closer to restart Relief may be on the way for commuters as fuel supply to Lagos shows signs of improvement with queues at filling stations in the metropolis thinning out Tuesday. Vice-President Yemi Osinbajo had spent the Chrismas day touring Lagos ...

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Fuel crisis messes up Christmas in Nigeria

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Many motorists and commuters are stranded in Nigeria following an excruciating three-week fuel shortage. Long queues continue to form at petrol stations in major cities, occasioning a hike in pump price in places where the product was available. Many bus stages are jammed with passengers travelling for Christmas celebration, yet many commercial vehicles were held up in petrol stations. Motorists ...

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