Category: INTERNATIONAL
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Kenya:Millers shun Sh2.5bn maize offered for sale at the NCPB
Millers have shunned the one million bags of top grade maize worth Sh2.5 billion offered to them last month from the State-owned Strategic Grain Reserves to curb the rally in flour prices. Data provided to Parliament indicate the millers have accessed 102,903 bags or 10 per cent of the allocated quota. Maize flour prices crossed…
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South African Reserve Bank leaves repo rate unchanged at 7.0 percent
South Africa’s Reserve Bank kept its benchmark repo rate unchanged at 7 percent on Thursday, saying that while it was still concerned about inflation, the weak economy had provided some room to delay further policy tightening. “The MPC (monetary policy committee) is aware that some of the favourable factors that contributed to this decision could…
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Nigeria’s Buhari says government talking to Niger Delta militants-statement
The Nigerian government is talking to militants in the southern Niger Delta to end a wave of attacks on oil and gas facilities, President Muhammadu Buhari said on Thursday. The government was using oil companies and security agencies to talk to the militants “to find a lasting solution to insecurity in the region”, Buhari said…
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Malawi: Severe Drought Elevates Food Crisis to ‘Highest Level’
El Nino-related drought has led to food shortages in much of southern Africa. WFP Executive Director Ertharin Cousin told DW that more assistance is needed to feed those in need. The United Nations World Food Programme (WFP) has launched a relief program to feed families affected by the severe drought in Malawi. Over 18 million…
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Kenya’s new vehicle sales plunge 30 pct in first half
The number of new vehicles sold in Kenya dropped 30.2 percent in the first six months of this year from the same period last year mainly due to high lending rates. Most buyers of new vehicles, like light commercial trucks, rely on asset financing facilities by banks and interest rates were as high as 24…
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Europe:Swiss watchdog suspects lax bank controls related to 1MDB
Switzerland’s FINMA financial watchdog suspects banks being probed about ties to scandal-hit Malaysian state fund 1MDB had lax money-laundering controls, it said on Thursday, but declined to give any details about four open investigations. “FINMA has indications here that the measures for combating money laundering were insufficient,” a spokesman said. He was responding to news…
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Nigeria: Debt Servicing Gulped N1.02 Trillion in 2015 – DMO
The federal government last year spent N1.018 trillion to service its local debts, an amount that is N152.32 billion or 17.6 per cent higher than the N865.81 billion it spent on servicing local debts in 2014. This amount, according to data made available in the recently released 2015 Annual Report of the Debt Management Office…
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Asia:Japan stocks rise on $186bn stimulus bets
Japanese stocks have risen on bets the government will unveil a stimulus package that could be double the size initially expected. Prime Minister Shinzo Abe is looking to compile a package of at least 20 trillion yen ($186bn; £141bn) according to the Kyodo News agency. The world’s third-largest economy is still trying to emerge from…
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U.S:Banks settle for $2bn in forex rigging suit
Nine of the world’s biggest banks agreed to a settlement yesterday with US investors tied to the currency-rigging scandal, in what could be the start of a new wave of throbbing litigation. Britain’s Barclays, HSBC and Royal Bank of Scotland joined Goldman Sachs Group, BNP Paribas SA, JP Morgan, Bank of America, UBS and Citigroup…
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U.S. sues to seize $1 billion in assets tied to Malaysian state fund
U.S. prosecutors are trying to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state fund, overseen by the prime minister, and used to finance “The Wolf of Wall Street” film, and to buy property and works of art. Civil lawsuits filed in federal court on Wednesday…