The Editorial Team |

Tanzania budget spending seen flat in 2015/16

NAIROBI (Reuters) – Tanzania’s government budget is expected to stay unchanged in 2015/16 from projections of the current fiscal year due to a sharp fall in financial aid flows to east Africa’s second-biggest economy, according to a budget guidelines document.Donors have withheld more than three-quarters of $558 million of promised budget support to one of Africa’s biggest per capita aid recipients in the current fiscal year 2014/15 following allegations of high-level graft in the country’s…

Italians increasing investment in Ethiopia

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Ethiopia has seen an increased Italian appetite for investment in infrastructure, agriculture, mining, manufacturing, energy and tourism, according to an EthiopianHerald report in AllAfrica. Italian businesses have been engaged in about 200 investment projects in Ethiopia since 1994 with investments worth 6.2 billion birr ($304.15 million US). Ethiopia wants the relationship to get stronger still, said Ethiopian Foreign Affairs Minister Dewano Kedir at the Ethio-Italy-Greek Trilateral Investment and Business Networking Forum, held recently in Addis…

Kenya’s Standard Group 2014 profit up 8 pct on advertising boos

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NAIROBI (Reuters) – Kenyan media company Standard Group posted an 8.4 percent rise in pretax profit for 2014 due to growth in print, TV and radio advertising.The publisher of Kenya’s oldest and second-largest daily paper, the Standard, and an operator of a radio and TV station, said profit before tax climbed to 326 million shillings ($3.6 million), while revenue nudged marginally lower.Standard Group said it was optimistic about 2015 and wants to tap into Kenya’s…

Frontier Markets Debt May Dodge Fed Bullet

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Sovereign debt issuance from frontier markets this year may not reach last year’s record levels but new bonds are still likely to be warmly received by investors, says Steffen Reichold, a portfolio manager at Stone Harbor Investment Partners, which manages around $45 billion in frontier- and emerging-markets debt. With the U.S. Federal Reserve likely to begin raising interest rates later this year, countries are feeling pressure to issue debt while yields are still relatively low, Reichold says….

Africa Executives Welcome Thiam Move, Say There Should Be More

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JOHANNESBURG – African business leaders cheered Tidjane Thiam’s appointment as chief executive of Swiss banking giant Credit Suisse Group AG this week. So far, though, Mr. Thiam’s ascent to the top of a western multinational looks like the exception to the rule that executives from the continent still don’t reach the top of the global corporate elite. “He’s a great leader who happens to have roots in Africa. At some point we need to get to…

Lower oil prices to strain net exporters, offer respite to importers

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Lower oil prices will reverse the financial performance of oil exporters and importers in 2015, with exporters’ public finances coming under renewed pressure and importers given some help in reducing their deficits, Moody’s Investors Service says in a report published today. Moody’s report, entitled “Global Oil Price Shock: Challenges for Oil-Exporting Sovereigns, Breathing Space for Importers” is available on www.moodys.com. The impact of cheaper energy means oil exporters face worsening fiscal and external balances, with some…

How to make use of compounding in your FX trading

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ALBERT Einstein reportedly said that compound interest is “the eighth wonder of the world. He who understands it, earns it… he who doesn’t… pays it.” There are examples of compounding in FX. One FXCM client, for instance, invested $14,000 over the last two years and made a $100,000 return. How? First, they held positions for 28 days on average. Second, the trader would only trade in line with strong trends. Finally, they would add to…

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