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Middle East & Africa


Sudan currency falls to record low ahead of listing of fuel subsidies KHARTOUM: Sudan's currency has fallen to a record low against the dollar on the black market as people rush to change savings into hard currency ahead of a lifting of fuel subsidies expected to drive up inflation, dealers said on Saturday.There is little foreign trading in the Sudanese pound but the black market rate is a key indicator of the mood of the business elite and of ordinary people left weary by years of economic crises, ethnic conflicts and wars.The rate is also watched by foreign firms such as cellphone operators Zain and MTN and by Gulf banks who sell products in pounds and then struggle to convert profits into dollars. Gulf investors also hold pound-denominated Islamic bonds sold by the central bank.On Saturday, one dollar bought 7.8 pounds on the black market - which has become the business benchmark - compared to 7.3 a week ago, black market dealers ...

Ghana signs $1.2bn cocoa loan for 2013-14 crop purchases ACCRA: Ghana's cocoa industry regulator Cocobod has signed a $1.2 billion syndicated loan from international banks for 2013/14 cocoa crop purchases as against $1.5 billion for 2012/13, it said on Friday.The credit facility between Cocobod and a consortium of international and local banks, led by French lender Societe General, will enable Cocobod to raise funds to purchase 830,000 tonnes of cocoa from farmers for the season.Ghana is the world's second largest cocoa exporter after Ivory ...
Ivory Coast Oct-Aug coffee exports down 13pc ABIDJAN: Ivory Coast's coffee bean exports fell more than 13 percent to 74,925 tonnes from October 2012 to August 2013 compared with the same period last season, provisional port data showed on Wednesday. Copyright Reuters, 2013 ...
Kenyan tea prices rise at auction NAIROBI: The average price of Kenya's top grade Broken Pekoe Ones tea climbed to $3.91 per kg at this week's auction from $3.82 per kg last week, Africa Tea Brokers (ATB) said on Tuesday.Kenya is the world's top black tea exporter and tea is a leading foreign exchange earner in east Africa's largest economy.ATB said Best Broke Pekoe Ones sold at $3.40-$4.41 per kg, from $3.54-$4.10 per kg last week.Brighter Pekoe Fanning Ones (PF1s) fetched ...
Egypt's FIHC seeking 20,000 T soyoil and 20,000 T sunflower oil ABU DHABI: Egypt's state-owned Food Industries Holding Company is seeking 20,000 tonnes of sunflower oil and 20,000 tonnes soybean oil in a tender, a Cairo-based trader said on Sunday.The oil is for arrival Oct. 1 to Oct. 20 and local delivery for soybean oil offers in Egyptian pounds is from Sept. 10 to Oct. 20, the trader said.The closing date for the tender is September 5.Copyright Reuters, 2013 ...
Dry weather to boost Nigeria's main cocoa crop after heavy rains LAGOS: Drier weather in Nigeria's main cocoa-growing regions has increased hopes of a healthy crop this September, after heavy rains subsided to gave farmers breathing space to dry their beans.Cocoa futures hit multi-month highs on Tuesday, as speculators bought up the key chocolate ingredient on concerns over unfavourable weather in West Africa, the main growing region. They were mostly concerned about lack of rain, although Nigerian farmers have been more worried about too much of ...
Uganda coffee exports up 29pc yr/yr in July: UCDA KAMPALA: Uganda's coffee exports in July jumped 29 percent year-on-year to 395,224 60-kg bags, helped by dry weather that improved the bean drying process and eased transportation from rural areas to market, a state agency said on Monday.The Uganda Coffee Development Authority said the July exports earned $45.1 million, up from $40.5 million in July 2012."The main factors for bigger volumes that we exported are the dry conditions that facilitated smooth transportation from deep in ...


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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 $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln