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WTO members say US actions threaten trade body's credibility

20th March 2018 Nearly 50 countries expressed concern on Tuesday about the "serious threat" to the World Trade Organisation posed by unilateral trade actions, a pointed reference to US import tariffs that have caused a global outcry. Delivering concluding remarks after a two-day informal meeting of the WTO... 

Chinese control of cobalt supply risk for EU car industry – Glencore

20th March 2018 Glencore chief executive Ivan Glasenberg said that the automotive industry is waking up too late to the fact that the Chinese will hold most of the world's global cobalt supply, a key metal for electric vehicle (EV) batteries. "If cobalt falls in hands of the Chinese, yeah you won't see EVs being... 

Rio Tinto fears impact of trade war concerns despite tariff exemptions

20th March 2018 Global miner Rio Tinto sees fears of a trade war between the US and China weighing on its shares, even after the company won an exemption from US tariffs for its Canadian aluminium exports. Nearly a third of all aluminium consumed by the US is supplied by Rio Tinto from Canada. 

Zambia targets 1Mt of copper output this year

20th March 2018 Zambia expects to produce more than one-million tonnes of copper this year after revising its 2017 copper production upwards on the back of stable power supply, a senior ministry of mines official said on Tuesday. Rising copper prices were also expected to boost revenue collection in Africa's... 

China iron-ore, steel extends losses as lofty China inventories weigh

20th March 2018 Chinese iron-ore prices fell further on Tuesday, a day after posting their biggest daily drop in almost ten months as high inventories and a weak domestic steel market pressure prices. Near-term inventory risks have dampened the outlook for steel and iron-ore prices short term, Argonaut said in a... 

Q4 current account deficit widens as strong rand boosts imports

20th March 2018 South Africa's current account deficit widened more than expected to 2.9% of GDP in the fourth quarter due to a smaller trade surplus driven by a rally in the currency late last year, central bank said on Tuesday. The rand has appreciated by about 20% against the dollar since mid-November, in the... 

Zambia picks Unitel unit as fourth mobile operator

20th March 2018 Zambia has selected a unit of Dutch company Unitel International Holdings as the country's fourth mobile phone service provider, the communications regulator said on Monday. The Zambia Information and Communications Technology Authority (ZICTA) said in a statement that Unitel had pledged to... 

Tanzania says AB InBev to build $100m plant

20th March 2018 AB InBev, which owns a majority stake in Tanzania Breweries Limited, the country's biggest brewer, will invest $100-million in a new beer plant in the administrative capital Dodoma, the president's office announced. President John Magufuli on Monday chaired a day-long meeting with major foreign... 

Reserve Bank expected to cut repo rate on March 28

20th March 2018 The South African Reserve Bank (SARB) will cut its repo rate by 25 basis points to 6.50% just days after Moody's is expected to give the country another chance to reform its finances, a Reuters poll found on Tuesday. Fifteen of 22 economists said the Bank would cut interest rates by 25 basis... 

US bans transactions with Venezuela's digital currency – White House

19th March 2018 US President Donald Trump on Monday signed an executive order barring any US-based financial transactions involving Venezuela's new petro cryptocurrency, as US officials warned that it was a "scam" by President Nicolas Maduro's government to further undermine democracy in the OPEC country. "The... 

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