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Middle East & Africa


Drop in cocoa bean size worries Ivorian exporters ABIDJAN: Dry weather in top cocoa grower Ivory Coast has caused a sharp drop in bean size and will delay the start of the April-to-September mid-crop by nearly two months, exporters and merchants said on Friday. Bean size is determined by counting the number of beans per 100 grammes of cocoa, known as the bean count. Ivory Coast's marketing board, the Coffee and Cocoa Council (CCC), has fixed a ceiling of 105 beans per 100 grammes for beans destined for export.Average bean counts have increased from 100 to 105 beans per 100 grammes to 120 to 130 beans per 100 grammes over the past several weeks.Bean size generally decreases during the mid-crop and the bulk of the harvest is typically purchased by local grinders who process them into cocoa products. "We've never seen a bean count of 120 to 130 during the main crop, even if we are now towards ...

Heat and dry weather could threaten Ivory Coast cocoa mid-crop ABIDJAN: Hot, dry weather in Ivory Coast's main cocoa-growing regions last week could delay the April to September mid-crop, though rainfall was sufficient elsewhere, farmers said on Monday. Ivory Coast, the world's top cocoa producer, is approaching the end of the mid-November to March dry season.At least one downpour a week until the end of the month will be required to encourage flowering, which then develops into small pods. In the coastal region of San ...
Vietnam's January-February rice exports dip to 515,000 Tonnes HANOI: Vietnam's rice exports in the first two months of 2015 are estimated to have fallen 34.4 percent from a year ago to 515,000 tonnes, the government said on Thursday.Revenue from rice shipments in January-February is estimated at $237 million, down 35.6 percent from the same period last year, the government's General Statistics Office said in its monthly report.Vietnam, the world's third-largest exporter after Thailand and India, has projected to ship 7 million tonnes of ...
South Africa's Sibanye says H2 earnings down 60pc JOHANNESBURG: South African-focused Sibanye Gold reported on Thursday a 60 percent decline in second-half headline earnings per share because of impairments to some operations and the Rand Refinery as well as an additional tax payment.Copyright Reuters, 2015 ...
Zambia Sugar to spend $82mn on refinery to double output JOHANNESBURG: Africa's top cane producer Zambia Sugar plans to spend $82 million to construct a refinery that would double its annual refined production as well as make other factory improvements, the firm said on Wednesday. The unit of South African sugar producer Illovo said in a statement the refinery would more than double refined output capacity to around 100,000 tonnes, and likely be up and running by May of 2016.Zambia Sugar said the project would ...
Ezz Steel posts Q3 loss of 285mn Egyptian pounds CAIRO: Ezz Steel, Egypt's biggest steel maker posted a third-quarter net loss on Tuesday that widened to 285.38 million Egyptian pounds ($37.43 million) from 84.1 million a year earlier.The company said in a statement on the Egyptian bourse that third-quarter sales fell 4.6 percent to 4.62 billion versus 4.84 billion a year earlier.For the nine months to September 30, Ezz posted a net loss of 461 million versus a net profit of 218 million a ...
Ivory coast cocoa arrivals seen around 1,175,000 T by Feb 15 ABIDJAN: Cocoa arrivals at ports in Ivory Coast, the world's top producer, reached around 1,175,000 tonnes by Feb. 15 since the start of the season on Oct. 1, exporters estimated on Monday, up from 1,130,000 tonnes in the same period of the previous season. Exporters estimated around 34,000 tonnes of beans were delivered to the West African state's two ports of Abidjan and San Pedro between Feb. 9 to Feb.15 up from 14,000 tonnes during ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln