Archive for January 3rd, 2008
By Thomas Kutty Abraham
Jan. 2 (Bloomberg) — Diamond India Ltd. plans to boost imports of rough diamonds directly from miners as De Beers, the world’s biggest supplier, may cut sales to a select group of customers, or so-called sightholders, in the South Asian nation.
The company may seek supplies from miners in Russia, Angola and Botswana to pare its reliance on the world’s biggest diamond company, Sanjay Kothari, chairman of the Gem & Jewellery Export Promotion Council that founded Diamond India, told reporters in Mumbai today.
“The government has advised us to widen our sources of supply and with De Beers planning to reduce the number of sightholders, we will speed up our efforts,” Kothari said. “We will be more aggressive in sourcing from other miners.”
Lower purchases from De Beers may help producers such as Rio Tinto Ltd. and Russia’s ZAO Alrosa to increase [continue reading]
Business Daily (Nairobi)
1 January 2008
Posted to the web 2 January 2008
African producers of almost all agricultural commodities can expect strong prices on global markets next year, with growing investor interest boosting demand-related increases.
Wheat, corn and soy have all rallied in recent weeks and analysts say grains will continue to be hot into the New Year. When Barclays Capital asked 150 clients at a commodities conference this month which sectors they expected to produce the highest returns next year, 45 per cent voted for agricultural markets, well above the 19 per cent going for precious metals.
Investor interest, a new phenomenon, is largely thanks to strong fundamentals. Robust demand in emerging economies has drawn down stocks to record lows and despite a [continue reading]
02/01/2008 18:12 – (SA)
Johannesburg – Counterfeit DVDs to the value of R200m were discovered at OR Tambo airport on Wednesday, said police.
The consignment – the largest of its kind to be trafficked through a South African port of entry – was discovered during a routine inspection of the airport’s cargo area said police spokesperson, Captain Dennis Adriao.
“The team of SAPS members from the anti-smuggling unit routinely search the cargo areas for drugs and illegal items,” said Adriao.
In addition to the counterfeit DVDs, a consignment of counterfeit DVD players, as well as cellphones and [continue reading]
source: SW Radio Africa
By Lance Guma
02 January 2007
The extension of a deadline for the exchange of old Z$200 000 notes has failed to solve the crippling cash shortage. The Reserve Bank made a spectacular u-turn just hours before a deadline to remove the old notes from circulation, choosing instead to re-introduce them back on the market. This has created scenes of chaos across the country as thousands of people make attempts to change their money any way they can. Many reports indicate that shops and businesses are reluctant to accept the old Z$200 000 notes, for fear they might be stuck with useless money at any time should the Reserve Bank withdraw them. Central Bank chief Gideon Gono used the excuse of the heavy rains for the inability to provide banks with enough new money.
But our correspondent Simon Muchemwa says the strategy seems to have been deliberately designed to scare people who were [continue reading]
Agencia de Informacao de Mocambique (Maputo)
2 January 2008
Posted to the web 2 January 2008
The SADC (Southern African Development Community) Free Trade Area took effect as from Monday, and in principle the vast majority of goods produced in other SADC countries can now enter Mozambique free of customs duties.
To benefit from the scrapping of customs duties, however, importers will need to produce a certificate of origin, guaranteeing that the goods really do come from other SADC member states.
The duty free status applies to about 85 per cent of the goods on the Mozambican customs list. The liberalization only affects customs duties: where applicable, imported goods will still pay Value Added Tax (VAT).
The Ministry of Industry and Trade has been fixing at all Mozambique’s entry points a list of goods that are now free of customs duties, and a list of [continue reading]