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Middle East & Africa


Top price of Kenyan tea dips at auction NAIROBI: The maximum price of Kenya's highest quality tea fell to $3.52 per kg at auction this week from $3.73 per kg last week, Africa Tea Brokers said on Tuesday.The east African nation is the world's leading exporter of black tea, and the crop is a leading foreign exchange earner for the economy, together with horticulture and tourism.Best Broken Pekoe Ones (BP1s) sold at $2.20-3.51 per kg during the sale held on Monday and Tuesday, compared with $2.28-3.73 per kg during last week's sale, the company said in a report.Best Brighter Pekoe Fanning Ones (PF1s) attracted a price of $2.34-$2.70 per kg, compared with $2.36-$2.72 per kg in the previous sale.Of the 136,693 packages or 8.69 million kg on offer, 16.86 percent remained unsold.Most of the tea offered at the weekly auction in the port city of Mombasa is from Kenya, but tea from Uganda, Tanzania, Rwanda, Burundi and other ...

Cameroon cocoa output slips 8 percent in 2013/14 season YAOUNDE: Cameroon's 2013/14 cocoa production slipped more than 8 percent to 209,905 tonnes compared with 228,948 tonnes the previous season, National Cocoa and Coffee Board (NCCB) data obtained on Friday showed. Cocoa bean exports from the world's fifth largest producer fell nearly 20 percent to 158,000 tonnes from 196,788 tonnes in the 2012/13 season. There were 5,828 tonnes of remaining stocks of beans at the end of the season on July 31. "We had expected ...
Saudi Arabia to cut Oct crude prices to Asia SINGAPORE: Top oil exporter Saudi Arabia is expected to cut October prices for all grades sold to Asia, reflecting weak demand and a stronger Oman price marker, trade sources said on Monday.Flagship Arab Light may also see the biggest cut in its official selling price (OSP) since February, a Reuters survey of four refiners showed.Three of four respondents expect Arab Light's October OSP to be reduced by at least $1 a barrel, the biggest since ...
Kenyan shilling hits lowest since January 2012 NAIROBI: The Kenyan shilling hit its lowest level since January 2012 on Monday, weighed down by concerns that hard currency inflows would be hit by a slump in tourism.At the 1300 GMT close of trade, commercial banks posted the shilling at 88.65/75 per dollar, weaker than Friday's close of 88.25/35.Concerns over dollar inflows have grown in recent months, in large part due to falling business in the key tourist industry, which has been hurt by ...
Iraq rejects offers in tender for 30,000 tonnes of rice BAGHDAD: Iraq's state grains buyer has rejected offers on an international tender to buy at least 30,000 tonnes of rice, a trade ministry official said on Friday. The closing date for the tender was Aug. 11 and offers stayed valid until Aug. 15. "Only three companies submitted offers with high prices, which we decided to reject. A new rice tender will be issued next week," said the official. Iraq made no purchase in a previous ...
Uganda coffee exports drop 20 year/yr in July NAIROBI: Uganda's coffee exports fell 20 percent to 314,304 60-kg bags of coffee in July compared with the same month in 2013 due to drought, regulator Uganda Coffee Development Authority (UCDA) said on Thursday. Coffee exports earned a total $37.8 million compared with $45 million in July 2013, a UCDA source said. Between October 2013 to July 2014, coffee exports stood at 3,028,534 bags compared with 3,039,934 bags that were exported in the year ago ...
South Africa's net reserves dip to $44.315bn in July JOHANNESBURG: South Africa's net gold and foreign exchange reserves were at $44.315 billion in July from $44.828 billion in June, data from the Reserve Bank showed on Thursday. Gross reserves edged higher to $49.89 billion at the end of the month, from $48.647 billion in June, while the forward position, which represents the bank's unsettled or swap transactions, fell to $2.975 billion from $3.117 billion. Economists polled by Reuters expected net reserves to come 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 $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln