Reuters News The South African rand was little changed in early trade on Thursday before the release of local mining, manufacturing and business confidence data later in the day. At 0636 GMT, the rand traded at 18.8325 against the dollar , the same level as its previous close, after making strong gains on Tuesday and…
Reuters News South Africa’s manufacturing output rose 1.6% year on year in August after rising by a revised 2.2% in July, statistics agency data showed on Thursday. Factory production was up 0.5% month on month in August, after falling by a revised 1.7% in July.
ZAWYA Africa’s total exports are set to reach around $952 billion by 2035, as regional trade grows and connectivity expands, according to a new report. Once the African Continental Free Trade Area (AfCFTA) agreement is fully implemented, exports could further grow by 29%, representing an annual growth rate of 3% from now until 2035, Standard…
WAM (Emirates News Agency) MARRAKESH: Standard Chartered has today published its Future of Trade: Africa report, highlighting the outlook for African trade and providing a view of the African Continental Free Trade Area (AfCFTA) as a key proponent of optimising intra-African trade. The report finds that Africa’s total exports will reach USD952 billion by 2035…
ZAWYA Sub-Saharan Africa growth is projected to decline to 3.3 percent in 2023 before picking up to 4.0 percent in 2024, the International Monetary Fund said in its October 2023 World Economic Outlook (WEO) report that was released on Tuesday. The estimates are lower compared to IMF’s forecasts in July, when it said the region…
Arab Finance Arab Finance: Egypt is looking forward to establishing a factory for manufacturing electric buses and trucks in Borg El-Arab, Alexandria, in cooperation with Belarussian companies, a statement by the Ministry of Trade showed on October 10th. This has been discussed during a meeting between Minister of Transport Kamel Al-Wazir and the Belarusian Ambassador to…
Daily News Egypt Egypt – The Suez Canal Economic Zone (SCZONE) witnessed the opening of the Silicon Valley factory and the Infinix brand production line on Tuesday, in the industrial zone in Sokhna. The factory, which is the first of its kind in Egypt, the Middle East, and Africa, specializes in manufacturing wearable mobile phone…
Arab Finance Egypt is probing boosting cooperation with the Swiss pharmaceutical firm Novartis in the areas of oncological, heart, and immunity diseases, as per a statement. This came during a meeting between Chairman of Egypt Healthcare Authority (EHA) Ahmed El-Sobky and a delegation from the Swiss firm. Both sides also discussed the possibility of training…
The East African Zimbabwe has introduced a new gold-backed digital currency as it battles to stop re-dollarisation, which President Emmerson Mnangagwa’s government fears will spell doom for the country’s fragile economy. The country’s central bank said the digital tokens, also known as Zimbabwe Gold (ZiG), that are dominated in milligrams, can be used by both…
Reuters Egypt’s annual urban consumer price inflation rose to a historic high of 38.0% in September, climbing from 37.4% in August and topping analyst expectations, data from statistics agency CAPMAS showed on Tuesday. It was the fourth consecutive month of record highs recorded on the central bank website, which has figures going back to 2000,…
