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Amidst political uncertainty, Egypt’s economic and social status tells a complex story

August 23, 2013--23 August 2013 (ECA) – While the world's eyes focused on the political situation in Egypt, the United Nations Economic Commission for Africa's analysis shows a complex story.

On the one hand, the country managed to sustain activities in most sectors, despite a number of challenges that led to shrinking exports. On the other hand, the political crisis is situated in a context of weak global demand that has negatively affected Egypt’s exports and Suez Canal revenues.

Entitled 'The Economic Situation in Egypt in the Context of Political instability and a Risky Transition", the brief on Egypt explores its public finances, balance of services and social development. It notes that unemployment appears critical in Egypt due to the political and economic uncertainties which have led to a reduction in income from tourism and a lack of visibility among investors, who have either postponed their projects or withdrawn their capital, depriving people of thousands of jobs.

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view the full brief-The Economic Situation in Egypt in the Context of Political instability and a Risky Transition

Source: United Nations Economic Commission for Africa


Nigeria: Shekau's Death Excites BRIC Investors

August 23, 2013-The reported death of Abubakar Shekau, the leader of the Boko Haram insurgency, is making foreign investors look favourably towards investing in Nigeria.

Such investors are said to be frustrated by the low level of profit they are currently making from the BRIC nations of Brazil, India, Russia and China, authoritative US journal, Forbes, has reported.

The report, published in Forbes, yesterday...

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Source: FIN24


Africa: China Development Bank Invests Billions in Africa

August 23, 2013-China Development Bank (CDB), the country's largest policy lender, has invested at least 2.4 billion U.S. dollars in African infrastructure and commercial projects, the bank's president Zheng Zhijie said Tuesday.

The China-Africa Development Fund has financed mineral resources, machinery manufacturing, power generation, agricultural and infrastructure projects in more than 30 African countries, Zheng told a China-Kenya investment forum.

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Source: FIN24


South Africa's main mine union to take strike vote in gold sector

Trade union NUM said Wednesday it will ballot its members this week on whether to go on strike after gold miners' wage talks stalled.
August 22, 2013--South Africa's National Union of Mineworkers said on Wednesday it would ballot its members this week on whether to go on strike after gold miners' wage talks stalled, raising the prospect of crippling stoppages in an industry in terminal decline.

"We will go and consult with our members and put it to a vote. We are going to strike, there is no question about it, I just can't say when," NUM spokesman Lesiba Seshoka told Reuters.

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Source: MineWeb


Gold strike talks hammer rand

August 22, 2013-The rand dropped to a new four-year low against the dollar early on Thursday after wage talks in the gold sector stalled and the country's main mine union said it planned to ask members to vote on a strike.

Gold mine stoppages would inflict more damage to the economy, which is already losing $60m a day to a strike by 30 000 workers in the car manufacturing sector that accounts for 6% of gross domestic product.

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Source: FIN24


Rand will be closer to R11 by year end -expert

August 21, 2013--By the end of 2013 the rand will probably be closer to R11 to the dollar, according to Rob Spanjaard, a director of REZCO Asset Management.

He had already warned in October 2012 that the rand could end up collapsing to more than R10 to the dollar.

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Source: FIN24


Rand on shaky ground

August 21, 2013--The rand weakened more than 1% against the dollar and government bonds dropped after data on Wednesday showed that headline consumer inflation in July breached the ceiling of the central bank's target band.

The rand was at 10.2670 to the dollar at 09:00 GMT, down 1% from its close in New York on Tuesday.

The yield on the 2026 government bond rose 4 basis points to 8.615%.

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Source: FIN24


Nigerians Abroad, Biggest Investors in Nigeria- Dabiri

August 21, 2013--Nigerians abroad have been identified as the biggest investors into the country's economy, which is seen as one of the fastest growing in Africa.

The chairman, House of Representatives Committee on Diaspora, Hon. Abike Dabiri-Erewa disclosed this at the just concluded Nigerian Diaspora Direct Investment Summit in London where she urged the Nigerian government to ensure that Nigerians abroad are given the necessary support needed to have a smooth inter-business transactions in their various countries of abode.

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Source: AllAfrica.com


Rand on shaky ground

August 21, 2013--The rand weakened more than 1% against the dollar and government bonds dropped after data on Wednesday showed that headline consumer inflation in July breached the ceiling of the central bank's target band.

The rand was at 10.2670 to the dollar at 09:00 GMT, down 1% from its close in New York on Tuesday.

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Source: FIN24


Rand dives as investors dump risky assets

August 20, 2013--Yields on debt hit their highest in 19 months on Tuesday and the rand dropped to its lowest level in six weeks as investors continued to dump local assets in a global sell-off of emerging markets.

The yield on the 2026 benchmark bond rose 7 basis points to 8.665%, its highest since January last year.

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Source: FIN24


Americas


July 11, 2025 RMB Investors Trust files with the SEC
July 11, 2025 Mutual Fund Series Trust files with the SEC
July 11, 2025 Simplify Exchange Traded Funds files with the SEC-Simplify Government Money Market ETF
July 11, 2025 Tortoise Capital Series Trust files with the SEC-Tortoise Global Water Fund
July 11, 2025 EA Series Trust files with the SEC-Towle Value ETF

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Europe ETF News


July 02, 2025 Valour Launches Eight New ETPs on Spotlight Stock Market, Including Bitcoin Cash (BCH), Unus Sed Leo (LEO), OKB (OKB), Polygon (POL), Algorand (ALGO), Filecoin (FIL), Arbitrum (ARB), and Stacks (STX)
June 16, 2025 ESMA's activities in 2024 focused on strengthening the EU capital markets and putting citizens and businesses at the heart of it
June 12, 2025 Janus Henderson launches active fixed income ETF
June 12, 2025 ifo Institute Raises Growth Forecast for Germany
June 10, 2025 ESMA publishes latest edition of its newsletter

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Asia ETF News


July 02, 2025 Fujitsu to develop ETF trading platform based on TSE's CONNEQTOR and provide it to Australian Securities Exchange
June 25, 2025 QFIIs Gain Access to Onshore ETF Options As A-share Market Opening Deepens
June 18, 2025 Mirae Asset Global Investments Launches MIRAE ASSET TIGER CHINA GLOBAL LEADERS TOP3 PLUS ETF, Tracking Solactive-KEDI China Global Leaders TOP3Plus Index

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Global ETP News


July 07, 2025 WTO issues new edition of World Tariff Profiles
July 03, 2025 Flow Traders-Tokenization in Capital Markets: A Market Maker's Perspective

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Middle East ETP News


June 19, 2025 GCC: Growth on the Rise, but Smart Spending Will Shape a Thriving Future
June 16, 2025 Saudi Exchange leads market losses across the GCC

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ESG and Of Interest News


June 30, 2025 OECD-Environment at a Glance Indicators
June 18, 2025 Global Energy Transition Gains Ground, but Security and Capital Challenges Persist
June 17, 2025 Pacific Economic Update: Slowing Growth Highlights Need for More Inclusive Workforce
June 10, 2025 Global Carbon Pricing Mobilizes Over $100 Billion for Public Budgets
June 07, 2025 Accelerating Blue Finance: Instruments, Case Studies, and Pathways to Scale

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