Category: INTERNATIONAL
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Zimbabwe:Maize alternatives face challenges
After years of bad maize harvests as a result of worsening drought, farmer Dorothy Chihota switched a few seasons back to growing sorghum, millet, cowpeas, and groundnuts on her 50-acre farm in Uzumba Maramba Pfungwe district. Since then she has had only good harvests, she said – but that doesn’t always mean she has had…
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Chinese manufacturing expands in January, official PMI shows, pointing to economic stabilization
China’s official manufacturing Purchasing Managers’ Index (PMI) showed the industrial sector continued to expand in January and a tad faster than expected, as the mainland economy shows signs of stabilizing. The manufacturing PMI came in at 51.3 in January, down a smidgen from 51.4 in December, but still better than a Reuters poll forecast of…
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Ethiopian shoe designer hopes for repeat success with coffee
Bethlehem Alemu’s shoes have been sold worldwide by Amazon(AMZN, Tech30), Urban Outfitters (URBN) and Whole Foods (WFM). When she started her business the Ethiopian accountant had much more modest ambitions. “I wanted to do something that would give me job opportunities myself and the people around me,” Alemu said. “I immediately thought ‘I have to…
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Apple: iPhone 7 helps US giant return to growth
Apple reported its highest ever quarterly revenue, as the iPhone 7 helped it return to a growth in sales in the final three months of 2016. In its first full quarter since the iPhone 7’s release, Apple reported net sales of $78.4bn (£62.3bn), up 3% on the same period a year ago. Chief executive Tim…
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Trump: Pharmaceutical executives told to cut drug prices
US President Donald Trump has called on pharmaceutical bosses to cut “astronomical” drug prices. During a White House meeting with senior pharmaceutical executives he told the firms to manufacture more of their drugs in the US. However, he also vowed to help the firms by speeding the approval of new medicines and by cutting taxes.…
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India Budget 2017: Promise to boost rural spending
India’s government has unveiled its annual budget, with promises to boost rural spending and pull more people out of poverty. It comes months after the controversial withdrawal of high value banknoteswhich caused chaos in the economy, hurting farmers and the poor most. Finance Minister Arun Jaitley allocated funds to bring more irrigation, roads, electricity and…
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UK economy to slow down this year and next, says think tank
The UK economy may slow down in the next couple of years, even while the world economy picks up, a report says. The National Institute of Economic and Social Research (NIESR) revised up its forecasts for UK growth to 1.7% this year and 1.9% in 2018. However, both would still be a slowdown from the…
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Kenya:Chicken, cattle feed prices rise as supply falls
Higher maize prices have hit cattle and chicken farmers with manufacturers forced to raise the cost of animal feeds due to a sharp decline in the supply of the raw material. Unga Group CEO Nick Hutchinson said prices of the feeds were revised two weeks ago to match the rising cost of maize. On average,…
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Kenya:Uber to compensate drivers for three-day app malfunction
Online taxi hailing firm Uber has pledged to compensate drivers who suffered losses in the wake of a three-day application malfunction that lasted up to Monday. Uber said a technical glitch that has since been rectified caused the malfunction, which made it impossible for drivers using the firm’s technology to go online. The hitch left…
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Ivory Coast unrest makes cocoa grinders rethink investments
Cocoa grinders in Ivory Coast are holding off on new investments after military and social unrest this month, potentially denting government plans to boost processing of the commodity in the world’s top grower. Ivory Coast has emerged from a 2002-2011 political crisis as one the world’s fastest growing economies, attracting foreign investment into everything from…