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Africa: China Development Bank Invests Billions in Africa
August 23, 2013-China Development Bank (CDB), the country's largest policy lender, has invested at least 2.4 billion U.S. dollars in African infrastructure and commercial projects, the bank's president Zheng Zhijie said Tuesday.
The China-Africa Development Fund has financed mineral resources, machinery manufacturing, power generation, agricultural and infrastructure projects in more than 30 African countries, Zheng told a China-Kenya investment forum.
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Source: FIN24
South Africa's main mine union to take strike vote in gold sector
Trade union NUM said Wednesday it will ballot its members this week on whether to go on strike after gold miners' wage talks stalled.
August 22, 2013--South Africa's National Union of Mineworkers said on Wednesday it would ballot its members this week on whether to go on strike after gold miners' wage talks stalled, raising the prospect of crippling stoppages in an industry in terminal decline.
"We will go and consult with our members and put it to a vote. We are going to strike, there is no question about it, I just can't say when," NUM spokesman Lesiba Seshoka told Reuters.
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Source: MineWeb
Gold strike talks hammer rand
August 22, 2013-The rand dropped to a new four-year low against the dollar early on Thursday after wage talks in the gold sector stalled and the country's main mine union said it planned to ask members to vote on a strike.
Gold mine stoppages would inflict more damage to the economy, which is already losing $60m a day to a strike by 30 000 workers in the car manufacturing sector that accounts for 6% of gross domestic product.
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Source: FIN24
Rand will be closer to R11 by year end -expert
August 21, 2013--By the end of 2013 the rand will probably be closer to R11 to the dollar, according to Rob Spanjaard, a director of REZCO Asset Management.
He had already warned in October 2012 that the rand could end up collapsing to more than R10 to the dollar.
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Source: FIN24
Rand on shaky ground
August 21, 2013--The rand weakened more than 1% against the dollar and government bonds dropped after data on Wednesday showed that headline consumer inflation in July breached the ceiling of the central bank's target band.
The rand was at 10.2670 to the dollar at 09:00 GMT, down 1% from its close in New York on Tuesday.
The yield on the 2026 government bond rose 4 basis points to 8.615%.
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Source: FIN24
Nigerians Abroad, Biggest Investors in Nigeria- Dabiri
August 21, 2013--Nigerians abroad have been identified as the biggest investors into the country's economy, which is seen as one of the fastest growing in Africa.
The chairman, House of Representatives Committee on Diaspora, Hon. Abike Dabiri-Erewa disclosed this at the just concluded Nigerian Diaspora Direct Investment Summit in London where she urged the Nigerian government to ensure that Nigerians abroad are given the necessary support needed to have a smooth inter-business transactions in their various countries of abode.
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Source: AllAfrica.com
Rand on shaky ground
August 21, 2013--The rand weakened more than 1% against the dollar and government bonds dropped after data on Wednesday showed that headline consumer inflation in July breached the ceiling of the central bank's target band.
The rand was at 10.2670 to the dollar at 09:00 GMT, down 1% from its close in New York on Tuesday.
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Source: FIN24
Rand dives as investors dump risky assets
August 20, 2013--Yields on debt hit their highest in 19 months on Tuesday and the rand dropped to its lowest level in six weeks as investors continued to dump local assets in a global sell-off of emerging markets.
The yield on the 2026 benchmark bond rose 7 basis points to 8.665%, its highest since January last year.
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Source: FIN24
Bahrain equity market measure hits 2-month high
August 19, 2013--The Bahrain All Share Index closed 0.12% higher at 1,202.68 points on Monday.
Shares of Bahrain Telecom, better known as Batelco, gained 2.94% to reach BD0.35. Islamic bank Ithmaar dived 3.70% to $0.26.
Source: African Capital News
Gold pushes stocks to record close
August 16, 2013--South African stocks booked a record close for the fourth time this week on Friday, lifted by surging gold producers after the spot price hit two-months highs.
The Top 40-(Tradeable) [JSE:J200] climbed 1.40% to 38 623.63 while the wider All Share [JSE:J203]...
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Source: FIN24
