The following company announcements, scheduled economic indicators, debt and currency market
moves and political events may affect African markets on Wednesday.
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GLOBAL MARKETS
Asian shares fell on Wednesday as initial enthusiasm over
the latest U.S.-China trade truce was overtaken by fresh
concerns over Washington's threat of tariffs on additional
European goods. MKTS/GLOB
WORLD OIL PRICES
Oil prices edged higher on Wednesday after a steep fall in
the previous session, supported by extended output cuts by
OPEC and its allies despite concerns that a slowing global
economy could crimp demand. O/R
EMERGING MARKETS
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SOUTH AFRICA MARKETS
South Africa's rand firmed against the U.S. dollar on
Tuesday, helped by a weaker greenback as optimism about
easing trade tensions between the United States and China
faded, while stocks fell due to profit-taking. NIGERIA DISASTER
At least 50 people were killed in Nigeria when fuel from a
crashed truck that they were siphoning up caught fire, a
spokesman for the governor in central Benue state said on
Tuesday. NIGERIA TRADE
Nigeria will sign an Africa free trade agreement at the
coming African union summit, according to a statement posted
on the Nigeria presidency's Twitter feed on
Tuesday. KENYA MARKETS
The Kenyan shilling KES= weakened against the dollar on
Tuesday on the back of increased dollar demand from oil and
merchandise importers, traders said. UGANDA MARKETS
The Ugandan shilling UGX= was little-changed on Tuesday,
but was seen easing due to dollar demand from commercial
banks, traders said. UGANDA INTERNET
Uganda's plan to nationalise its internet data exchange
service will result in poorer quality services and
discourage investment in one of East Africa's most thriving
information and communications technology (ICT) sectors,
industry players say. SOMALIA USA
The United States is resuming some assistance to a unit of
the Somali military that is not working directly with U.S.
forces, U.S. officials said on Tuesday, around 18 months
after aid was suspended to such units over widespread
corruption concerns. NAMIBIA WILDLIFE
The killing of a 50-year alpha elephant bull in Namibia has
caused an uproar in the southern African nation, with
conservation and tourism groups accusing the government of
authorising the hunt for the animal without proper
cause. SUDAN POLITICS
Ethiopia's mediator in the Sudan crisis urged the military
rulers and the opposition coalition to hold direct talks on
Wednesday to strike a deal on handing over power to
civilians. ZIMBABWE ECONOMY
A Zimbabwe human rights lawyer asked the High Court on
Tuesday to overturn a government decision to ban the use of
foreign currencies, a move that could potentially derail
plans for a new currency if the court finds in his
favour. ZAMBIA ELECTRICITY
Zambia and Zimbabwe will start building the 2,400 MW Batoka
Gorge hydro power plant next year, a company jointly owned
by the two governments said on Tuesday. CONGO MINING
Illegal miners at a copper and cobalt mine run by Glencore
GLEN.L in southeastern Congo defied a deadline on Tuesday
to vacate the site, a union official said, raising fears of
a potentially violent standoff. ANGOLA LNG
Angola's liquefied natural gas (LNG) project in West Africa
has offered a spot cargo from its Soyo plant for delivery in
August, four industry sources said on Tuesday. COAST ECONOMY
Ivory Coast's economy is expected to grow by 7.5% this year,
in line with 7.4 percent last year, and medium-term growth
will remain strong, the International Monetary Fund said on
Tuesday. NIGER SECURITY
Unidentified gunmen have killed 16 soldiers in an attack on
a military camp in western Niger, local residents and
security sources said on Tuesday. the latest precious metals report click on GOL/
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