Nairobi: When Kenyan infrastructure firm TransCentury wanted to issue a $75 million corporate bond, it was forced to look to the Indian Ocean island of Mauritius, Africa's leading offshore financial centre some 3,000 km (1,900 miles) away. Kenya is already a growing gateway for foreign investment into East Africa and now has ambitions to become an international banking and financial hub in its own right. But to have any hope of coming close to rivalling the continent's pre-eminent financial pull of Johannesburg, or even Mauritius, backers of the proposed Nairobi International Financial Centre must overcome multiple hurdles.
These presentations were delivered to the National Assembly's Trade and Industry portfolio committee workshop on different aspects of South African trade issues. The workshop, held on 1 August 2013, was chaired by Ms J Fubbs (ANC)
Tokyo: Indian companies are increasingly investing abroad, and demanding that New Delhi’s economic diplomacy backs their endeavors. The Ministry of External Affairs (MEA) has hitherto largely ignored the pressures resulting from a more internationally oriented Indian business sector and the larger processes of globalization, which have brought economic matters to the forefront of foreign policy. However, plans that foresee people from trade and industry bodies joining diplomatic missions temporarily, recently hinted at by External Affairs Minister Salman Khurshid, suggest that New Delhi is ready to adapt to the new reality. This follows a number of initiatives launched earlier this year by the MEA to better represent India Inc.’s concerns abroad.
Johannesburg: This is the third in a series of six trade reports which explore South Africa’s trade position in the global trading arena. This report examines SA’s main trading countries in Europe. South Africa has consistently recorded a trade deficit with Europe over the past two decades. SA’s trade deficit with Europe since 1994 has increased from just R2.7bn to a massive R86bn in 2012. The deficit is mainly driven by increased imports from Germany France, Italy and the UK. Given current economic conditions in the region, particularly SA’s main trading partner countries (i.e. Germany, the UK and the Netherlands), we believe that the trade deficit with this region is likely to continue.
Beijing: Half of central government State-owned enterprises' profits will come from their overseas operations in the next five years, compared with less than 38 percent at present, according to the State-owned assets watchdog. The target can be achieved through better allocation of resources, choice of market, brand-building and industrial upgrading, rather than asset acquisitions, experts say. "We will focus on the structure of corporate profits when we evaluate central SOEs' international operations in the next few years," said Liu Nanchang, director of the Performance Evaluation Bureau of the State-owned Assets Supervision and Administration Commission.
Johannesburg: This is the second in a series of six trade reports which explore South Africa’s trade position in the global trading arena. The first report served as an introduction to the topic and provided a discussion of around who SA’s main trading partners are from both an import and export perspective. This report (Part II) gives an overview of SA’s bi-directional trade with Asia, exploring SA’s main trading partners as well as the flow of commodities both to and from the region.
Johannesburg: Over the last 10 years, the global community saw a shift in geo-political and economic power balance which resulted into new trade partnerships with Africa. To date, China represents Africa’s leading trading partner making up more than a third of Africa’s trade. China has already surpassed the United States in the volume of trade. The bulk of Africa’s emerging partners come from Asia and including Korea, India and Turkey. Africa’s trade volumes with its emerging partners have doubled in nominal value over the decade and now amount to 37% of Africa´s total trade.
Abuja: The Minister of Foreign Affairs, Ambassador Olugbenga Ashiru, in this interview with Bola Olajuwon, disclosed that President Goodluck Jonathan’s five days’ official visit to China underscored the subsisting cordial relationship between Nigeria and Beijing. He also spoke on the Memoranda of Understanding signed between the two nations.
Since the fourth meeting of the S&ED in May 2012, the United States and China have taken significant actions to strengthen growth and employment creation in both countries, foster a durable global recovery, and ensure that the pattern of their domestic growth supports strong, sustainable, and balanced global growth. Both sides commit to implement our G-20 commitments to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals, avoid persistent exchange rate misalignments, and to refrain from competitive devaluation. China is to continue exchange rate reform, increase flexibility of RMB exchange rate, and let market play a more fundamental role in the exchange rate formation.
Brussels: After the decline in EU27 trade in goods with South Africa observed in 2009, exports recovered strongly to reach a peak of 26.6 billion euro in 2012, while imports grew more slowly to reach 20.5 bn in 2012, still below the peak of 24.6 bn in 2008. As a result, EU27 trade with South Africa registered a surplus of 6.1 bn in 2012, compared with +1.3 bn in 2010 and +4.4 bn in 2011. On the occasion of the sixth European Union - South Africa summit, which will take place on 18 July 2013 in Kliptown, Soweto in South Africa, Eurostat, the statistical office of the European Union, issues data on trade and investments between South Africa and the EU.