Vol.19, Issue No. 15 May 2009

Global Lenders Pledge Billions for Continent

MULTILATERAL lenders have pledged $15bn to support trade, strengthen the financial sector and increase lending for infrastructure, agribusiness and small enterprises in Africa. Announced at the annual meeting of the African Development Bank (ADB) board of directors in Dakar yesterday, the increased support is part of a co-ordinated response to help regions affected by the global economic slowdown and help stem the reversal of investment in Africa.More>>

Meltdown – AfDB Wants Continent to Limit Effect

The African Development Bank (ADB) yesterday advised countries across the continent not to allow the damage caused by global economic crisis to go beyond the present level while at the same time prepare for the return of their economies to normalcy. To this end, the bank said that with the right approach, African economies would be able to withstand the crisis.More>>

WTO talks to gain momentum after US review

The multilateral trade talks at the World Trade Organisation (WTO) are likely to gather steam after September 2009 when the new US government is expected to complete its internal review of the pact. A ministerial stock taking meeting of key members is likely to be held in Geneva in November 2009 which is to be followed by the next phase of ministerial negotiations in January-February 2010, commerce secretary GK Pillai has said.More>>

Pakistan’s services trade deficit declines 38.26 percent

Pakistan’s services trade deficit shrunk by 38.26 percent in the first nine months of the current financial year due to strong growth in exports and falling imports. The trade deficit in services totaled $2.592 billion in July-March of 2008-09 over $4.782 billion in the corresponding period of last year, Federal Board of Statistics reported on Wednesday.More>>

Uganda: EU Okays Local Honey

THE European Union (EU) has approved Uganda’s honey, the Uganda Cooperative Alliance’s (UCA) agri-business manager, Benard Tayebwa, has said.
“We are also working with partners on how to market honey in the Netherlands,” Tayebwa added.More>>

Final Communique of the COMESA-EAC-SADC Tripartite Summit

In pursuit of the broader objectives of the African Union to accelerate economic integration of the continent, with the aim to achieve economic growth, reduce poverty and attain sustainable economic development, the Tripartite Summit of the Heads of State and Government of the Common Market for East and Southern Africa (COMESA), East African Community (EAC) and the Southern Africa Development Community (SADC) met in Kampala, Uganda on 22nd October 2008.More>>