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Worldwide market forces to watch for Sept. 13

Business & Economy News

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GLOBAL MARKETS
Asian stocks wobbled on Wednesday but still marked a 10-year
high, cheered by record highs on Wall Street, while shares
of Apple Inc’s suppliers dipped following the
release of the latest iPhone.

WORLD OIL PRICES
Oil prices were mixed early on Wednesday, but largely held
on to gains in the previous session after OPEC said it
expected higher demand for its crude next
year.

EMERGING MARKETS
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AFRICA STOCKS
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SOUTH AFRICA MARKETS
South Africa’s rand retreated on Tuesday as a resurgent
dollar pushed back and wiped away early demand for risk
currencies while turning up technical pressure on the local
unit.

NIGERIA CHOLERA
Efforts to contain a cholera outbreak that has struck more
than 1,000 people in refugee camps in northeast Nigeria are
being hampered because people are failing to report
suspected cases to authorities, a United Nations official
said.

NIGERIA-GERMANY/CRIME
Police in Germany on Tuesday arrested five people suspected
of smuggling Nigerian men into the country through fake
marriages, the German federal police said in a
statement.

NIGERIA POLITICS
A group campaigning for the secession of a part of
southeastern Nigeria, formerly known as Biafra, on Tuesday
accused the army of laying siege to their leader’s home, a
charge the armed forces denied.

KENYA MARKETS
The Kenyan shilling was unchanged against the dollar
on Tuesday with hard currency inflows from remittances
meeting importer and corporate demand, traders
said.

KENYA ELECTION
Kenyan President Uhuru Kenyatta opened parliament on Tuesday
by warning against divisive and destructive politics, while
opposition lawmakers boycotted the legislature and rallied
to demand the resignation of election officials.

UGANDA MARKETS
The Ugandan shilling was broadly stable on Tuesday
although inflows from commodity exporters and some
commercial banks paring their dollar positions gave the
local currency a strengthening bias.

UGANDA POLITICS
Legislators from Ugandan President Yoweri Museveni’s party
on Tuesday agreed to introduce a law to remove an age limit
from the country’s constitution, potentially allowing him to
extend his rule, two lawmakers told Reuters.

GHANA BANKS
Ghana’s central bank has raised the minimum capital required
for banks three-fold to 400 million cedis ($90.2 million) as
part of measures to ensure financial stability, its
spokesman said on Tuesday.

MALI MINING
Mali’s state revenues from mining companies rose 1 percent
last year to 247.3 billion CFA francs ($454 million) from
2015 due to a rise in gold prices, the mining ministry said
on Tuesday.

AFRICA-EU FISHING
Portugal, Spain, Greece and Italy broke European Union law
by authorising vessels to fish in the territorial waters off
Gambia and Equatorial Guinea, according to the findings of
conservation group Oceana published on Tuesday.

CENTRAL AFRICA POLITICS
Central African Republic president Faustin-Archange Touadera
sacked his defense minister on Tuesday evening, according to
a state radio broadcast, amid growing violence that
threatens to spin the country out of control.

SOUTH SUDAN OIL
War-ravaged South Sudan is considering scrapping state
subsidies on oil because it hasn’t been able to pay civil
servants for four months and diplomatic staff abroad are
being evicted over unpaid rent, the deputy finance minister
said.