Archive for January 9th, 2008
International oil prices briefly hit the $100 (about P604) mark a barrel in the New Year, raising concerns of further retail fuel prices and further inflationary pressures in Botswana.
Maungo Lebanna, an analyst with Investec Asset Management Botswana, says her inflation forecast for December could breach the 8 percent mark to 8.3 percent.
“Our inflation outlook has deteriorated. We previously thought inflation would peak at 8 percent by February; now we see it peaking at around 9 percent. Although domestic sources of inflation are muted, nontradeables inflation is likely to go up in the first quarter of 2008,” Lebanna said.
Botswana’s inflation edged from 7.3 percent in October to 7.7 percent in November influenced mostly by food and transport indices.
Transport inflation increased marginally in [continue reading]
Currently Gaborone Dam has water levels that could last up to 21 months. Speaking to Mmegi yesterday, the Public Relations Manager at Water Utilities Corporation (WUC), Matida Mmipi, said that the Gaborone Dam levels stand at 57 percent.
She said that Bokaa Dam levels are at 96 percent, which is a 16 months supply of water. While Nnywane dam levels are 97 percent, a 15-month supply and Letsibogo dam levels are at 67 percent, which means a 17-months supply.
However, it is the Shashe dam that [continue reading]
09 January, 2008
GABORONE – Botswana and Namibia could emerge as the new diamond processing centres in the world in a few years time, says a report from Thomson Financial News.
This comes in the wake of the anticipated removal of a few companies of Indian origin from the list of Diamond Trading Company (DTC) sight holders for a three-year period starting from March 2008.
Indias diamond industry will be adversely affected by the De Beers Diamond Trading Companys proposed pruning of eight firms in India and, three Indian owned firms in Belgium.
The report quotes the countrys Gems and Jewellery Export Promotion Council (GJEPC) saying it expects some 25 per cent shortage in rough diamonds after March as a result of DTCs decision, and has asked DTC to review and reconsider its decision.
However, DTC attributed the cut in [continue reading]