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[1/2] Kenyan workers check clothes made for export at the United Aryan Export Processing Zone (EPZ) factory, operating under the U.S. African Growth and Opportunity Act (AGOA), in Ruaraka district of Nairobi, Kenya October 26, 2023. REUTERS/Thomas Mukoya Acquire Licensing RightsNov 1 (Reuters) - South Africa will host the annual African Growth and Opportunity Act (AGOA) Forum in Johannesburg from Nov 2-4 to discuss the United States' flagship trade programme for the continent. The African Growth and Opportunity Act is a U.S. trade initiative passed in 2000 under former President Bill Clinton to deepen trade ties with Sub-Saharan Africa and help African countries develop their economies. AGOA provides duty-free access to the U.S. market for most agricultural and manufactured products exported by eligible African countries. African countries are pushing for an early 10-year extension without changes in order to reassure businesses and investors who might have concerns over AGOA's future.
Persons: Thomas Mukoya, Bill Clinton, AGOA, Nellie Peyton, Joe Bavier, Alexander Smith Organizations: United Aryan, Processing, U.S ., REUTERS, WHO, AGOA, U.S . Trade, Thomson Locations: Ruaraka district, Nairobi, Kenya, South Africa, Johannesburg, United States, U.S, Saharan Africa, Ghana, Lesotho, Madagascar, Ethiopia, AGOA .
The World Is Becoming More African
  + stars: | 2023-10-28 | by ( Declan Walsh | Hannah Reyes Morales | ) www.nytimes.com   time to read: +37 min
Old World Young Africa As the world grays, Africa blooms with youth. The World Is Becoming More African Part one of a series on how the youth boom is changing the continent, and beyond. But while a handful of African countries are poised to ride the demographic wave, others risk being swamped by it. In the West, racists and right-wing nationalists stoke fears of African population growth to justify hatred, or even violence. The age gap between geriatric leaders and restless youth is “a major source of tension” in many African countries, said Simon Mulongo, a former African Union diplomat from Uganda.
Persons: Lauren Leatherby, , Jean, Patrick Niambé, Hilton, Edward Paice, , Keziah Keya, Keya, Paul R, Ehrlich, stoke, Lauren Leatherby “, Carlos Lopes, Burna, Weeks, “ It’s, Laolu Senbanjo, Tems, Toulaye Sy, Pritzker, Abdulrazak Gurnah, “ Africa’s, ” Long, exotica, Mulendema, Hannah O’Leary, “ We’re, Sipho Dlamini, Dlamini, Moawad, Optimists, Mo Ibrahim, Aubrey Hruby, birthrates, India’s, China’s, Akinwumi Adesina, States —, William Ruto, Paul Biya of, Biya, Wole Soyinka, Paul Kagame of, Nourdine, Nigeriens, Awade, Ali Bongo Ondimba, Simon Mulongo, Nuha Abdelgadir, Abdelgadir, gesturing, “ We’ve, ” Weeks, Abdelgadir’s, Modu Ali, Young, Saidu, Habiba Mohammed, Ms, Ha, Joon Chang, Nobody, Chang, Ibrahim, Touré Organizations: Young, United Nations, Southern, Northern, Western Asia Northern, United, Ivory Coast, African Union, Group, European Union ., Suisse, Africa Research Institute, Nigeria Mozambique Kenya “, Russia Canada Germany United, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria Ethiopia Ethiopia Dem, Russia Germany, China Egypt India Nigeria D.R.C, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria Ethiopia Dem, Bank, Nations, International, Bryn Mawr College, Angola, Angola Ivory Coast, Angola Ivory Coast Cameroon Dem, Africa Middle Africa Southern, Economic Commission, New, Citi, Spotify, Cannes Film, Burkina Faso, UNESCO, Disney, Amazon Prime, Netflix, , Apple, Cape Town, Microsoft, Google, Infrastructure, McKinsey & Company, Pew Research Center, African Development Bank, Greek Coast Guard, Saudi, Africa Climate, Young Voters, Freedom House, University of Denver, United Arab, Japan Cuba Vatican City, Netherlands South Korea Belgium U.A.E, Islamic, Global, Center for Girls Education, School of Oriental, Studies Locations: grays, Africa, India, China, United States, Southern Asia, Asia, America, Caribbean, Northern America, Western Asia, Western Asia Northern America, Europe, London, New York, West Africa, Ivory, Abidjan, Russia, Turkey, Gulf, Nairobi, Nigeria Mozambique Kenya, Italy, Japan, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria Ethiopia Ethiopia, Congo Indonesia Brazil Australia South Africa Argentina, Russia Germany U.S, China Egypt India Nigeria, Brazil South Africa Australia, Russia Canada Germany United States Japan China Iran Egypt India Mexico Nigeria, Nigeria, Africa’s, Young, South Africa, Somalia, Mozambique, Mali, Gabon, Niger, Mozambique Nigeria Kenya, Kenya, Pennsylvania, Angola Ivory, Angola Ivory Coast Cameroon, Congo Algeria Egypt, Ghana Kenya Madagascar Mozambique Niger Nigeria, Tanzania Uganda South Africa, Northern Africa Eastern Africa, Africa Middle Africa, Africa Middle Africa Southern Africa, Guinea, Bissau, African, Qatar, Nigerian, Brooklyn, Target, French, Senegalese, Paris, Milan, Venice, Burkina, Tanzania, Saharan Africa, Nigeria Kenya Senegal In Lagos, Dakar, Zambia, South Korea, Sotheby’s, Lagos, Zimbabwe, Watford, Cape, Mombasa, Zanzibar, Cairo, Morocco, East Africa, Nigeria Mozambique Morocco, Sudanese, North Africa, East Asia, Thailand, Rwanda, Ivory Coast, States, Namibia, Kenyan, Paul Biya of Cameroon, Paul Kagame of Rwanda, United Arab Emirates, United States France Turkey, Germany, Russia India, Brazil, Japan Cuba, Japan Cuba Vatican City Spain Italy Saudi Arabia Qatar, Netherlands South Korea Belgium, Iran Canada, Niger’s, Niamey, Senegal Kenya Kenya, X’s, Tunisia, Egypt, Libya, Senegal, Uganda, Khartoum, Sudan, Ethiopia, Al Qaeda, Islamic State, Chad, Burkina Faso, Nigeria Nigeria Morocco, hijabs, Zaria, American, Korea, South, England
CNN —Large swaths of Ghana are facing power blackouts due to gas shortages at a major power facility, the nation’s power operator said, compounding the country’s worst economic crisis in decades. The West African nation has battled power outages, known locally as “dumsor” for many years. “Dumsor is fully back, no announced timetables, no communication, nothing, just frequent random power outages,” one Ghanian said of the latest power cut on X, formerly known as Twitter. Recent studies expect the country’s energy crisis to worsen over the coming years, starting from this year. “Ghana’s energy supply requires urgent, purposeful and significant investment to undo the current precarious situation the country finds itself,” said research and policy think tank, Centre for Socioeconomic Studies (CSS).
Persons: , Ghanian, GRIDCo, Organizations: CNN, Ghana Grid Company, , World Bank Locations: Ghana, Tema, Accra
[1/3] A state oil company PDVSA's logo is seen at a gas station in Caracas, Venezuela May 17, 2019. The restrictions were removed in response to a deal reached between the country's government and opposition parties for the 2024 election. JPMorgan's index team, which has made no statement as yet on the future treatment of the Venezuelan bonds, has reached out informally to investors to discuss the topic, the sources said. Venezuela and PDVSA have around $60 billion of international bonds outstanding, which are in default. The decision on index membership and weighting is taken by JPMorgan, though any changes usually follow consultations with investors.
Persons: Ivan Alvarado, Rodrigo Campos, Jorgelina, Rosario, Karin Strohecker, Christina Fincher, Nick Zieminski Organizations: REUTERS, JPMorgan, Reuters, Thomson Locations: Caracas, Venezuela, United States, PDVSA, Washington
CNN —At just 14 years old, Claudia Quaatey decided to run her own hair braiding business from her New York home as she prepared to support herself through nursing school. “Claudia was not perfect, but Claudia was exactly what I prayed for.”Claudia Quaatey and her mother, Marian Abbey. Claudia was shot once while sitting in the back seat of a car, a law enforcement official with knowledge of the case told CNN. Her mother later told CNN that Claudia had plans to braid a friend’s hair that evening. Courtesy Marian AbbeyBorn to Christian Ghanian parents in New York City, Claudia grew up to be the kind of person who was empathetic and caring.
Persons: Claudia Quaatey, , Claudia, , Marian Abbey, ” Claudia, “ Claudia, ” Claudia Quaatey, Marian, Howard University’s, , sweatshirts, Claudia’s, ” Albert Quaatey, There’s, daydreams, “ She’s, ’ Claudia, Christian Ghanian, they’re, Keon Anderson, ” Keon, Keon, don’t, Roberta Anderson Keon, Roberta Anderson, Keon’s, ” Anderson Organizations: CNN, Howard University, New York Police Department, Police, NYPD, Queens High School of Teaching Locations: New York, Jamaica, Queens, Washington, DC, Ghana, St, Albans, Queens , New York, United States, New York City, ’ West
"There is not much room for error, which makes cocoa especially vulnerable to climate change," said Branch. Coupled with an already-pressured sugar market, the cocoa shortage has spooked major chocolate makers, sending prices of classic candies higher this Halloween season. Specialty chocolatiers have so far been immune to the elevated cocoa prices. Greg D'Alesandre, who leads chocolate sourcing for specialty brand Dandelion Chocolate, said its prices are protected from industry-wide volatility because the company pays a premium for high-end cocoa suppliers. A bad cocoa-growing season makes Halloween chocolate not only more expensive, but sometimes, it also makes it smaller.
Persons: David Branch, Candy, Mars, Greg D'Alesandre, D'Alesandre Organizations: Washington , D.C, Wells, Food Institute, National Retail Federation, CNBC, Dandelion Locations: Washington ,, Cocoa, West Africa, Ivory Coast, Ghana, Cameroon, Nigeria
Investors arrive to the election looking at an economy in recession as a crippling drought hit the key agricultural sector. The gap to the official rate is above 150%. On the line is the survival of the country's $43 billion program with the International Monetary Fund and the possibility that Argentina defaults on its debt for a 10th time. "Dollarization would not cure the main issue in Argentina, which is a really large fiscal problem." "Debt does not need to be an immediate priority," said Khan, who doesn't expect dollarization to top the near-term list either.
Persons: Patricia Bullrich, Martin Cossarini, Javier Milei, Sergio Massa, Alejandro di Bernardo, Bernardo, Milei, Massa, Gabriel Rubinstein, Elijah Oliveros, Rosen, Zulfi Ali, Shamaila Khan, Khan, Hans Humes, Humes, Rodrigo Campos, Karin Strohecker, Susan Fenton Organizations: el Cambio, REUTERS, NEW, International Monetary Fund, Jupiter Asset, Bullrich, WE, JPMorgan, China, Institute of International Finance, IMF, America, PGIM, Oxford Economics, Reuters, Emerging Markets, Asia Pacific, UBS Asset Management, Massa, Greylock Capital Management, Thomson Locations: Buenos Aires, Argentina, Washington
REUTERS/Leonardo Fernandez Viloria/File Photo Acquire Licensing RightsNEW YORK/CARACAS, Oct 19 (Reuters) - Venezuela's sovereign bonds rallied on Thursday, a day after the United States lifted its ban on secondary market trading of some of the country's eurobonds, with investors eyeing a debt restructuring on some $60 billion of defaulted debt. "Prices have almost doubled in the past 24 hours but are still well below the pre-sanctioned levels," said Edward Cowen, CEO of Winterbrook Capital, who has co-invested in a fund to buy Venezuelan debt. Cowen added that a return to Venezuela's regular weighting on global indexes like JPMorgan's would give the prices further support. "I think the market was caught by surprise as the ban on secondary trading of bonds was not expected to be removed this early in the negotiation," said Armando Armenta, senior economist for global economic research at AllianceBernstein. Small funds and investors outside the United States had looked to increase their exposure to Venezuelan bonds on the expectation of debt renegotiations.
Persons: Leonardo Fernandez Viloria, PDVSA, Edward Cowen, Cowen, Armando Armenta, Maria Corina Machado, Rodrigo Campos, Mayela, Marc Jones, Corina Rodriguez, Christina Fincher, Will Dunham Organizations: REUTERS, South, Winterbrook, U.S . Treasury Department, Petroleum, Venezuelan, U.S . State Department, Mayela Armas, Thomson Locations: Bolivar, Caracas, Venezuela, CARACAS, United States, South American, U.S, Venezuela's, Venezuelan, New York, London, Madrid
NASHVILLE, Tenn. (AP) — Gio Reyna scored his first two internationals goals since a family feud with coach Gregg Berhalter erupted at last year's World Cup, leading the United States to a 4-0 rout of Ghana in an exhibition on Tuesday night. The 20-year-old midfielder's first game under Berhalter since the controversy was in Saturday's 3-1 loss to Germany. A son of former U.S. captain Claudio Reyna and American midfielder Danielle Egan, Gio Reyna was limited to a pair of substitute appearances in Qatar. Reyna got his second goal from an indirect free kick 10 yards out, awarded when Opoku sat on the ball. Reyna poked the ball to Pulisic, who tapped it back, and Reyna kicked the ball into the roof of the net.
Persons: — Gio Reyna, Gregg Berhalter, Reyna, Christian Pulisic, Folarin Balogun, Claudio Reyna, Danielle Egan, Gio Reyna, Berhalter, Sergiño, Nicholas Opoku, Pulisic, Gideon Mensah, Tim Weah, Weah, Jerome Opoku, Opoku, Matt Turner, parry Mohammed Kudus, Lennard Maloney, Chris Hughton, ___ Organizations: U.S, CONCACAF Nations League, Black Stars, South, Berhalter, Mexico Locations: Tenn, United States, Ghana, U.S, Saturday's, Germany, Qatar, Africa, South Africa
Germany cruise past United States 3-1 in friendly
  + stars: | 2023-10-14 | by ( ) www.reuters.com   time to read: +2 min
Soccer Football - German Football Association present Julian Nagelsmann as the new coach of the national team - German Football Federation Headquarters, Frankfurt, Germany - September 22, 2023 Germany coach Julian Nagelsmann during the press conference REUTERS/Kai Pfaffenbach/File photo Acquire Licensing RightsNEW YORK, Oct 14 (Reuters) - Germany's new head coach Julian Nagelsmann enjoyed his debut as the four-time world champions recovered from a goal down to beat the United States 3-1 away in a friendly on Saturday. U.S. captain Christian Pulisic thrilled the home crowd when he opened the scoring but the Americans could not hold onto their lead and midfielder Guendogan levelled before halftime while Fuellkrug and Musiala struck after the break. "We had a great start to the game, I think the energy levels were high," said U.S. midfielder Weston McKennie. Three minutes later attacking midfielder Musiala fired another shot into the net after a neat flick from Fuellkrug. The U.S. next play Ghana in a friendly in Nashville, Tennessee on Tuesday when Germany face Mexico in Philadelphia.
Persons: Julian Nagelsmann, Kai Pfaffenbach, Ilkay, Niclas Fuellkrug, Jamal Musiala, Christian Pulisic, Guendogan, Musiala, Weston McKennie, Matt Turner, Leroy Sane, Turner, McKennie, Gio Reyna, Gregg Berhalter, Amy Tennery, Ken Ferris Organizations: Soccer Football, German Football Association, German Football Federation Headquarters, United, Fuellkrug, U.S, Thomson Locations: Frankfurt, Germany, United States, freefall, Japan, East Hartford , Connecticut, U.S, Ghana, Nashville , Tennessee, Mexico, Philadelphia, New York
Niclas Füllkrug and Jamal Musiala scored three minutes apart early in the second half, and Germany rallied to beat the United States 3-1 in a rainy exhibition Saturday. Political Cartoons View All 1211 Images“He played a good game, showed his quality,” Berhalter said. Gündoğan tied the score with his 18th international goal and first since the World Cup. Musiala got his second international goal, racing ahead of Tim Ream after Füllkrug beat Turner to a deflection and then centered the ball. “In the second half,” Nagelsmann said, “we had the ball possession in the opponent's half.
Persons: — Gio Reyna, Gregg Berhalter, Julian Nagelsmann, Niclas Füllkrug, Jamal Musiala, , ” Berhalter, ” Reyna, Berhalter, Reyna, Weston McKennie, ” Pulisic, Pulisic, Jonathan Tah, Antonio Rüdiger, Marc, André, Gündoğan, Leroy Sané, Matt Turner, Sané, Luca de la, Füllkrug, Turner, Robin Gosens, Chris Richards, Musiala, Tim Ream, Chris Führich, Hansi Flick, ” Nagelsmann Organizations: HARTFORD, United, , CONCACAF Nations League, Canada, Dortmund, Bundesliga, Mexico, Luca de la Torre Locations: Conn, Germany, United States, Qatar, U.S, Gündoğan, Mexico, Philadelphia, Ghana, Nashville , Tennessee
London CNN —It was a painting in the lobby of a Benin hotel last year that changed the way Afrobeats star Mr Eazi thought about art. The works will also be exhibited in galleries internationally — in Accra, Lagos, London (where they will be displayed as part of a “listening experience” the 1-54 Contemporary African Art Fair between October 12—15) and in New York. “One of the most exciting things for me is that art represents an opportunity to discover people without a pre-bias… it’s exerting soft power,” said Mr Eazi. “It’s an ecosystem,” Mr Eazi summarises. “African music should be in African film and African art with African music… That’s culture, that’s the flood.
Persons: Eazi, , , Oluwole, , Patricorel, Eazi —, , Eazi’s, Tammy Sinclair's, OLÚWA, Tammy Sinclair, I’m, ” Eazi, don’t, Sinclair, “ Mandela, Foli, Mr Eazi, Mr Eazi’s, ” Tesprit, undiluted Organizations: London CNN, CNN, Fair, Banku, US, Alpha Locations: Benin, Accra, Lagos, London, New York, Ghana, Nigeria, Rwanda, Zimbabwe, South Africa, Togo, Cameroon, Senegal, Kenya, Ghanaian, Kenyan, Togolese, Togo’s, Lomé, Cape Town , South Africa,
US ready to prove they can beat top teams, says McKennie
  + stars: | 2023-10-11 | by ( ) www.reuters.com   time to read: +1 min
NEW YORK, Oct 11 (Reuters) - The U.S. men's national team are ready to show they can beat the world's top teams, midfielder Weston McKennie said on Wednesday, as they prepare to face Germany in a home friendly. "We always compared ourselves in terms of, you know, we wanted to compete with top-level countries," McKennie told reporters. "We expect ourselves to win these games now instead of just competing with them." "It's a great opportunity to kind of see where we're at," said McKennie. They are hungry for a chance at redemption after exiting at the group stage for the second World Cup in a row.
Persons: Weston McKennie, McKennie, Amy Tennery, Ed Osmond Organizations: men's, Juventus, Ghana, Thomson Locations: Germany, East Hartford , Connecticut, U.S, Qatar, Nashville , Tennessee, Mexico, Philadelphia, New York
[1/2] The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. IMF Managing Director Kristalina Georgieva said the extra resources were needed to ensure the IMF can respond to another large-scale crisis. But with anti-China sentiment running high in the U.S. Congress, any IMF funding increase that increases Beijing's influence would face stiff opposition. U.S. Treasury Secretary Janet Yellen proposed the money now, shares later plan as a way to sidestep the China issue and speed resources to the IMF. A 50% quota increase would be equivalent to about $312 billion at current exchange rates.
Persons: Yuri Gripas, Fernando Haddad, Kristalina Georgieva, Janet Yellen, Ernest Addison, David Lawder, Alex Richardson, Andrea Ricci Organizations: Monetary Fund, REUTERS, Rights, U.S, Monetary, IMF, U.S . Congress, Treasury, International Monetary, Financial Committee, Thomson Locations: Washington , U.S, Rights MARRAKECH, Morocco, France, Britain, Ghana, Switzerland, Finland, Belgium, China, Brazil, U.S, Algeria, Iran, Libya, Pakistan, Tunisia
UNITED NATIONS (AP) — Russia faces a tough fight to regain a seat in the U.N.’s premiere human rights body in Tuesday’s election in the General Assembly, which voted last year to suspend Moscow after its invasion of Ukraine. The 193-member assembly will be electing 15 members to the Geneva-based Human Rights Council, with candidates put forward by the U.N.’s five regional groups. Human Rights Watch said last week that Russia and China are unfit to serve on the Human Rights Council. The New York-based watchdog said China’s rights record should also disqualify it from the Human Rights Council. The Geneva-based Human Rights Council was created in 2006 to replace a commission discredited because of some members’ poor rights records.
Persons: , Moscow’s U.N, Vassily Nebenzia, ” Nebenzia, Felice Gaer, Jacob, Russia’s, Ferit Hoxha, Robert Wood, , Louis Charbonneau, U.N, Vladimir Putin Organizations: UNITED NATIONS, General Assembly, Rights, Albania, East European, Human Rights, Russia, Jacob Blaustein Institute, Advancement of Human, Human Rights Council, Security Council, United Nations, General, Rights Watch, Human Rights Watch, International, Court, The Locations: Russia, Moscow, Ukraine, Geneva, Bulgaria, United States, Russian, Ukrainian, U.S, America, Caribbean, Cuba, Brazil, Dominican Republic, Peru, China, Japan, Kuwait, Indonesia, Burundi, Malawi, Ghana, Ivory Coast, France, Netherlands, , The New York, Xinjiang, North Korea, Iran, Venezuela, South Korea, Afghanistan, Vietnam, Sudan
Cocoa farmers face mounting challenges as El Nino rages on
  + stars: | 2023-10-10 | by ( Quek Jie Ann | ) www.cnbc.com   time to read: +7 min
Frequent extreme weather events caused by El Nino and climate change hurts cocoa production. According to the the latest El Nino-Southern Oscillation Outlook, El Nino is expected to last through January to March 2024, with a 71% chance it will intensify from November to January. An intensified and frequent El Nino effect could significantly reduce the amount of arable land for cocoa cultivation. watch nowAccording to a report by the Economist Intelligence Unit, a high intensity El Nino may result in severe economic disruption across Africa. The financial cost of El Nino and climate change remains unquantified for Cote d'Ivoire and Ghana.
Persons: Cristina Aldehuela, El, El Nino, Nino, Jonathan Haines, it's, Kerry Daroci, Daroci, That's, Steffany Bermudez, Bermudez Organizations: Afp, Getty, El, El Nino, Southern Oscillation, Gro Intelligence, CNBC, Cocoa, Rainforest Alliance, International Cocoa Organization ., West Africa's Cote d'Ivoire, National Oceanic, Atmospheric Administration, Economist Intelligence Unit, Cote d'Ivoire, West, Rainforest, International Cocoa Organization, Environmental Protection Agency, International Institute for Sustainable Development Locations: Asikasu, Ghana, El Nino, West, West Africa, Kerry, Brazil, Ecuador, International Cocoa Organization . Asia, Pacific, Indonesia, Papua New Guinea, West Africa's Cote, Ivory, Ivory Coast, Africa, London, New York
While most traders are waiting on the sidelines, anxious about the election and unsure of libertarian frontrunner Javier Milei, some daring bond investors are moving in. "There has been a lot of pain from being invested in Argentina over the past decade," Reed said. Rob Citrone, founder of U.S.-based hedge fund Discovery Capital Management, said Argentina presented one of the best opportunities in emerging markets. The depressed values offer another reason to be bullish on Argentina's debt, said Thomas Haugaard, a portfolio manager on the emerging markets debt hard currency team at Janus Henderson Investments in Copenhagen. Armando Armenta, an analyst for Latin American fixed-income and currency markets at AllianceBernstein in New York, said it was a mixed picture.
Persons: Javier Milei, Cristina Sille, Milei, Patricia Bullrich, Sergio Massa, Christine Reed, Reed, Bullrich, Mauricio Macri's, Massa, Rob Citrone, Cristina Fernandez de Kirchner, Fernandez de Kirchner, Thomas Haugaard, Janus Henderson, Haugaard, Morgan Stanley, Armando Armenta, Milei's, Rodrigo Campos, Carolina Mandl, Adam Jourdan, Paul Simao Organizations: Argentine, REUTERS, Peronist, International Monetary Fund, U.S, Discovery Capital Management, Reuters Graphics Reuters, BancTrust, Reuters, Janus, Janus Henderson Investments, Thomson Locations: Buenos Aires, Argentina, New York, Ghana, Sri Lanka, Copenhagen, Congress, AllianceBernstein
How the $13 trillion economy's slowdown will affect other emerging markets is still an unanswered question for investors. "Lower for longer Chinese growth is shaping a new regime of investments," Amundi's head of emerging markets Yerlan Syzdykov told Reuters. The World Bank trimmed its 2024 China growth forecast to 4.4% from 4.8%. 6/DEVELOPING REFORMThe World Bank, IMF and other multilateral development banks are under pressure to boost lending to poorer countries to fund development and tackle climate change. China and other large emerging economies have long demanded a greater say in the global financial architecture, which is still dominated by parameters set out by the 1944 Bretton Woods meeting, where the IMF and World Bank were established.
Persons: Abdelhak, Joseph Cuthbertson, Syzdykov, Anna Gelpern, Gregory Smith, Smith, Mehmet Simsek, Tayyip Erdogan, Erdogan, drubbing, Timothy Ash, Jorgelina, Rosario, Rachel Savage, Marc Jones, Karin Strohecker, Christina Fincher Organizations: International Monetary Fund, World Bank, Palais des, REUTERS, Federal Reserve, International Monetary, PineBridge Investments, Reuters, Bank, Ukraine, U.S, Kyiv, Paris Club, IMF, American, London, G Investments, JPMorgan, Egypt IMF, Fitch, Reuters Graphics Reuters, Finance, BlueBay Asset Management, Thomson Locations: Palais, Palais des Congres, Marrakech, Morocco, Argentina, Pakistan, Kenya, Egypt, CHINA, China, UKRAINE, Ukraine, Zambia, Sri Lanka, Ghana, Georgetown, Nigeria, TURKEY, Ankara, New York, Washington, London, Woods
Uncover: The Kenya skincare brand targeting African skin
  + stars: | 2023-10-05 | by ( Nell Lewis | ) edition.cnn.com   time to read: +5 min
Uncover – a startup founded by three women in Kenya in 2020 – wants this to change. It has developed a range of cosmetics that serve the needs of African women, says Sneha Mehta, the company’s CEO and co-founder. Jade Oyateru, the startup’s COO and co-founder, explains that while demand for sunscreen is growing among African women, they often complain that it leaves a ghostly white layer on their skin. The African identity carries through to the product’s ingredients, with each one containing a plant grown on the continent. Pan-African skincareUrbanization and a young population are some of main drivers behind the booming African beauty market, but there is still a big gap in knowledge, says Uncover’s Oyateru.
Persons: , Sneha Mehta, Jade Oyateru, Mehta, Edwin Maina, Technavio, Rubab, Uncover’s Oyateru, , we’ve, , it’s, hyperpigmentation – Organizations: CNN, Euromonitor Locations: Africa, Kenya, Nigeria, South Korea, South Africa, Ghana
PwC’s annual report on the South African mining industry said global drops in some commodity prices following the COVID-19 pandemic contributed to the reduced profits. But so did South Africa’s local challenges of currency fluctuations, high inflation, power blackouts and logistical problems in exporting minerals because of deteriorating road, rail and port infrastructure. South Africa has an opportunity to benefit from that demand, which also would need millions of dollars in investment, the report said. “This presents several opportunities for South Africa which could reshape industries, diversify the economy and drive future prosperity." The output from South Africa’s 130-year-old gold mining industry has been slumping for more than 20 years.
Persons: Andries Rossouw, PwC, Rossouw Organizations: McKinsey & Company, ” Mining, South African Revenue Service, AP Locations: CAPE, South Africa, Ghana, South America, Africa, African, africa
Developing countries facing a debt crunch
  + stars: | 2023-10-04 | by ( ) www.reuters.com   time to read: +6 min
EGYPTNorth Africa's largest economy needs to repay some $100 billion of hard-currency debt over the next five years. Egypt has a $3 billion IMF programme and has devalued the pound by roughly 50% since February 2022. Its progress in restructuring both domestic debt and $30 billion in external debt has been fairly swift and it secured a $3 billion IMF bailout in May. The next tranche of a $2.9 billion IMF bailout package could be delayed over a potential government revenue shortfall. A repair plan finally appeared imminent after Zambia clinched a $6.3 billion debt rework deal with the Paris Club creditor nations and China, its other big bilateral lender, in June.
Persons: Moody's, William Ruto's, Kais Saied, Libby George, Shri Navaratnam Organizations: World Bank, African Development Bank, IMF, UAE, SRI, SRI LANKA Sri, European Union, Zambia, Paris Club, Sri, Thomson Locations: Marrakech, EGYPT, Cairo, Egypt, ETHIOPIA, Ethiopia, China, GHANA Ghana, Accra, KENYA, Kenya, LEBANON Lebanon, PAKISTAN Pakistan, Saudi Arabia, SRI LANKA, SRI LANKA Sri Lanka, TUNISIA, Tunisia, UKRAINE Ukraine, Ukraine, United States, ZAMBIA, Zambia
A nurse fills a syringe with malaria vaccine before administering it to an infant at the Lumumba Sub-County hospital in Kisumu, Kenya, July 1, 2022. REUTERS/Baz Ratner/File photo Acquire Licensing RightsGENEVA, Oct 2 (Reuters) - The World Health Organization (WHO) recommended on Monday the use of a second malaria vaccine to curb the life-threatening disease spread to humans by some mosquitoes. recommended the broad use of the world's first malaria vaccine called RTS,S," WHO chief Tedros Adhanom Ghebreyesus told a briefing in Geneva. "Today, it gives me great pleasure to announce that WHO is recommending a second vaccine called R21/Matrix-M to prevent malaria in children at risk of the disease." "GSK has always recognised the need for a second malaria vaccine, but it is increasingly evident that RTS,S, the first ever malaria vaccine and the first ever vaccine against a human parasite, set a strong benchmark," GSK said in a statement.
Persons: Baz Ratner, Tedros Adhanom Ghebreyesus, Tedros, Poonawalla, Takeda, Hanna Nohynek, Gabrielle Tétrault, Farber, Leroy Leo, Gareth Jones, Mark Potter Organizations: Lumumba, REUTERS, Rights, World Health Organization, WHO, Britain's University of Oxford, UNICEF, Serum Institute of India, Reuters, GSK plc, United Nations, GSK, Takeda Pharmaceuticals, Thomson Locations: Kisumu, Kenya, Geneva, Ghana, Malawi, Bengaluru
LONDON (AP) — The World Health Organization authorized a second malaria vaccine on Monday, a decision that could offer countries a cheaper and a more readily available option than the world's first shot against the parasitic disease. “As a malaria researcher, I used to dream of the day we would have a safe and effective vaccine against malaria. Alister Craig, an emeritus professor at the Liverpool School of Tropical Medicine, said he would recommend countries trying to get the GSK vaccine switch to the Oxford vaccine instead. Neither of the malaria vaccines stop transmission so immunization campaigns alone won’t be enough to stop epidemics. In a separate decision, WHO's expert group also authorized the dengue vaccine made by Takeda, which was previously approved by the European Union drug regulator.
Persons: Tedros Adhanom Ghebreyesus, ” Tedros, Tedros, it’s, , John Johnson, ” Johnson, Melinda Gates, Alister Craig, Craig, Takeda, Jamey Keaten Organizations: World Health Organization, WHO, Oxford University, Serum Institute of India, Research, Oxford, GSK, Melinda Gates Foundation, Serum, Liverpool School, Tropical, European Union, Associated Press, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Ghana, Burkina Faso, Africa, Oxford, Bangladesh, Geneva
Arsenal welcome midfielder Partey back ahead of Lens clash
  + stars: | 2023-10-02 | by ( ) www.reuters.com   time to read: +1 min
Oct 2 (Reuters) - Arsenal midfielder Thomas Partey will be included in the squad to play at Lens in the Champions League on Tuesday after being sidelined for the past six matches, manager Mikel Arteta said. The 30-year-old Ghana international has not played since suffering a groin injury in training in early September. "He’s been progressing really well in the last two weeks, and he managed to train the last two or three days with the team. Arteta emphasised that Arsenal would not underestimate Lens, even though the Ligue 1 runners-up from last season have had a disappointing start, currently sitting in 15th place. Arsenal top Group B after a 4-0 home win over PSV Eindhoven on matchday one, while Sevilla and Lens drew 1-1 in Spain.
Persons: Thomas Partey, Mikel Arteta, He’s, Arteta, he’s, Tommy Lund, Ken Ferris Organizations: Arsenal, Lens, Champions League, Ghana, England International, Bournemouth, Premier League, Ligue, PSV Eindhoven, Sevilla, Thomson Locations: England, France, British, Spain, Gdansk
Production of the chocolate-making ingredient is expanding outside of the main growing area in West Africa as farmers in places such Brazil, Ecuador and Colombia see potential profit in the crop. The rally in prices to the highest level in nearly 50 years is boosting that trend, which could alleviate the current supply tightness in the global cocoa market. The country was once the second only to Ivory Coast in cocoa production, but a devastating fungus in the 1980's known as Witches' Broom sharply reduced production. "I believe that the new profile of cocoa production will be large-scale," said Moises Schmidt, one of the owners. "If you plant cocoa trees there (Amazon region), it is considered reforestation," said Douglas.
Persons: Schmidt Agricola, Moises Almeida Schmidt, Handout, Moises Schmidt, Jeroen Douglas, Douglas, Jose Garcia, IFAD's, Alvaro Lario, Marcelo Teixeira, Maytaal Angel, Simon Webb, Anna Driver Organizations: REUTERS, International Cocoa Organization, Reuters Graphics, Ivory, UN's, Fund for Agricultural Development, Thomson Locations: Bahia, Brazil, West Africa, Ecuador, Colombia, Africa, South America, Ivory, Ghana, Ivory Coast, Asia, United States, Europe, Guayaquil, Para, Netherlands, Medicilandia, New York, London
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