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Middle East & Africa


Egypt imports official suspected of corrupt rice deals, not wheat CAIRO: Egypt referred an import official from the General Authority for Supply Commodities (GASC) to administrative prosecutors on suspicion of corruption over local rice deals, not wheat, the Supplies Ministry spokesman told Reuters on Sunday. Egypt is the world's biggest wheat importer and any loss of confidence in that trade could have had significant consequences for the market. "The case has no relation at all with wheat, it is about dealings to purchase local rice from local traders in which the official had extended traders' deadlines to 10 days instead of a week," Mahmoud Diab said.Copyright Reuters, 2014 ...

Kenya tea prices fall at latest auction NAIROBI: The highest price for top Kenyan tea fell to $4.00 per kg at this week's auction from $4.13 per kg last week, Africa Tea Brokers (ATB) said on Wednesday. Kenya is the world's leading exporter of black tea and the crop is a major foreign exchange earner for east Africa's largest economy, together with horticulture and tourism. Prices for Best Broke Pekoe Ones (BP1s) sold at $2.94-$4.00 per kg compared with $3.15-$4.13 per kg ...
Kenyan coffee top price climbs at auction NAIROBI: The top price of Kenya's benchmark coffee grade rose to $531 per 50 kg bag at this week's auction from $440 per bag last week, the Nairobi Coffee Exchange(NCE) said. Kenya's speciality coffee beans are renowned for their high quality and are sought after by roasters for blending with coffee of lesser quality. During Tuesday's auction, grade AA fetched $171-$531 per bag, from $220-$440 at the previous sale, while grade AB sold at $151-$370 ...
Ivory Coast tops up cocoa reserve fund to $83mn ABIDJAN: Ivory Coast, the world's top cocoa grower, has topped up a reserve fund to protect against world price fluctuations to 40 billion CFA francs ($83.33 million), a government document showed. The West African nation abandoned a decade of sector liberalisation last season and now sells forward the bulk of its anticipated harvest in order to guarantee a minimum price for growers as part of efforts to improve their incomes. The fund reached 56 billion ...
South African platinum firms to meet mediators JOHANNESBURG: Top global platinum producers in South Africa this week will meet independent mediators to discuss a two-week wage strike, according to the union whose 80,000 workers have downed tools.Earlier talks led by the Commission for Conciliation, Mediation and Arbitration (CCMA) adjourned last week after the firms said they had reached "no settlement" with negotiators of the radical Association of Mineworkers and Construction Union (AMCU)."CCMA will be meeting the employers on Tuesday alone," AMCU president ...
Mediterranean refineries seen winning white sugar trade to Syria DUBAI: Mediterranean refineries are winning business to ship white sugar to Syria, Jamal Al Ghurair, managing director of the Al Khaleej Dubai sugar refinery, said on Sunday. "We can sell sugar to Syria, but it is more competitive from the Med refiners to bring sugar to the Syrian market than from Dubai," Al Ghurair told Reuters in an interview on the sidelines of the Feb. 8-11 Platts Kingsman sugar conference. Ghurair said the main refineries ...
Ivory Coast forward cocoa sales for 2013/14 reach 1.45mn tonnes ABIDJAN: Ivory Coast, the world's top grower of cocoa, has sold its entire 2013/14 crop in forward sales, or more than 1.45 million tonnes, a source in the finance ministry said. "We are currently at more than 1.45 million tonnes already sold and we are focusing our efforts on sales for next season," the source said.Copyright Reuters, 2014 ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln