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    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Encourage China to support Ghana’s debt restructuring – Akufo-Addo to Germany

    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

  • TECHNOLOGY

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

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Foreign investment into China falls in May

bycitibusinessnews
June 17, 2014
in Business
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Foreign investment in China fell in May to its lowest level in 16 months, partly due to slowing growth.

The government says China attracted $8.6bn (£5.1bn) in foreign direct investment (FDI) in May.

That is a 6.7% fall from the same period last year and marks China’s weakest FDI report since January 2013.

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Economists say prospects of slower growth in the world’s second-largest economy may have deterred foreign investors.

China’s economy expanded at the pace of 7.4% in the first three months of this year, down from 7.7% growth in the previous quarter.

Earlier this year, Premier Li Keqiang set a target of about 7.5% growth for 2014.

China’s GDP growth has been falling since 2010, when it stood at 10.4%.

FDI includes greenfield investment projects, such as newly built factories, as well as mergers and acquisitions.

And the monthly FDI figures can fluctuate as individual investment projects are announced.

The FDI data comes as Mr Li is in the UK on a three-day visit, looking to drum up more investment from the UK.

Domestic boost

To counter the reliance on foreign investment and external factors for growth, China has also been looking to pursue economic growth at home by boosting its infrastructure.

Earlier this month, the State Council said China would build a multi-tier transport system along the Yangtze River, to help create a new economic belt.

According to official data, the 11 provinces and municipalities along the river account for almost 41% of China’s overall gross domestic product.

In April, the government said it would cut taxes on small firms and speed up the construction of railway lines across the country.

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