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  • Success stories until recently, emerging economies are seen as casualties now— of slower growth in China, plunging prices for commodities like oil and iron ore, the prospect of higher U.S. interest rates and homegrown threats. The damage has spilled across oceans, with the turmoil jolting investors in New York, Tokyo and Europe. Investors there worry that China...

  • BEIJING, Aug 21- China's government rolled out fresh guidance on Friday aimed at supporting its new Silk Road infrastructure initiative, along with regional development in the Beijing- Tianjin- Hebei area and the Yangtze River economic corridor that includes Shanghai. China is seeking to extend its influence and to support domestic industry through its "One...

  • *Glencore's coal mine unit in cash-crunch due to Eskom deal. JOHANNESBURG, Aug 20- Administrators for Glencore's South African coal mining subsidiary suspended the firm's supply agreement with national power utility Eskom on Thursday while the mining unit undergoes a financial rescue programme. The Glencore unit sells half its output to Eskom's 2,000-...

  • *Glencore's coal mine unit in cash-crunch due to Eskom deal. JOHANNESBURG, Aug 20- Glencore's South African coal mining subsidiary suspended its supply agreement with national power utility Eskom on Thursday while the mining unit undergoes a financial rescue programme, its administrators said. The Glencore unit sells half its output to Eskom's 2,000-...

  • ADDIS ABABA, Aug 20- Ethiopian Airlines is powering ahead with a plan to expand its fleet and route network after exceeding its profit target for the 2014/ 15 year, its chief executive said in an interview. Ethiopian Airlines flew six million passengers in the prior year, up from 5.22 million in 2012/ 13.. Ethiopian Airlines plans to increase revenue to $10 billion by...

  • GULU, Uganda, Aug 20- For nearly two decades, the Lord's Resistance Army stalked the grasslands of north Uganda, abducting children as soldiers and sex slaves in its war against the government. Uganda is Africa's largest coffee exporter and its strong economic growth has been boosted by manufacturing, telecoms, retail and banking. "Northern Uganda has the...

  • DIARY- Emerging Markets Economic Events to Sept 2 Wednesday, 19 Aug 2015 | 8:02 PM ET

    JAKARTA, Indonesia- Federal Reserve Bank of San Francisco releases text of speech of President John Williams before the Bank Indonesia-BIS Research Conference in Jakarta- 0645 GMT. SEOUL, South Korea- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks before the "Macroeconomic Policy and Price Measurement Issues in a Low Inflation...

  • TOKYO, Aug 19- Japan and Iran will start negotiations on an investment accord once sanctions are lifted following last month's landmark international deal on Tehran's nuclear programme, the Nikkei reported on Wednesday, citing Japanese government sources. Japan is keen to boost ties with Iran and invest in resource projects in the country, as well as return...

  • The increase, from a previous estimate of 450,000, is the latest sign of how a huge influx of migrants and refugees, many fleeing war and poverty in Africa and the Middle East, is straining the European Union's ability to cope. "The situation is extremely unsatisfying," Chancellor Angela Merkel told ZDF television on Sunday, referring to the disproportionate...

  • NAIROBI, Aug 18- Kenyan Finance Minister Henry Rotich on Tuesday promised further steps, including cutting the budget deficit, to stabilize the currency after a 12 percent fall against the dollar so far this year. Rotich said the bulk of this gap was covered by funds already secured from China for the construction of a modern railway linking the port of Mombasa to...

  • BRUSSELS, Aug 17- High summer and life, for many in Europe, is a beach. The second has triggered a poisonous round of every-man-for-himself bickering among the EU's 28 governments and the Union institutions in Brussels over how to deal with record numbers of migrants arriving by sea and land and heading across Europe. More even than that other Mediterranean...

  • BENGHAZI, Libya/ CAIRO, Aug 15- Libya's oil production is between 350,000 and 380,000 barrels a day, the new chairman of a state oil firm based in eastern Libya said on Saturday. Production is less than a quarter of what the OPEC producer used to pump before an uprising toppled Muammar Gaddafi in 2011.. The move is largely symbolic as oil production and the marketing...

  • BENGHAZI, Libya, Aug 15- Libya's internationally recognized government has appointed Naji al-Maghrabi as chairman of its state oil firm NOC based in the east of the country, an oil official said on Saturday. The move is largely symbolic as oil production and the marketing of exports are controlled by the established state oil firm, also known as NOC, in Tripoli...

  • The move came just before spot gold prices tumbled 6.6 percent in July, their weakest monthly performance in more than two years after a steep selloff in Shanghai and New York, and on expectations for the U.S. "It appears Paulson was astute to lighten up some before the July plunge," said Mike McGlone, director of research for ETF Securities in New York.

  • *South Africa suffering chronic power shortages. JOHANNESBURG, Aug 14- Fears are growing in South Africa that agreements to build nuclear power plants that could be the most expensive procurement in the country's history will be made behind closed doors, without the necessary public scrutiny. Construction on the first plant is due to start next year, breakneck...

  • Shale is more expensive to produce than oil from the giant conventional fields of the Middle East but cheaper than deepwater megaprojects and competes directly against the North Sea and Canada's oil sands. Megaprojects developed by the major international companies must now be benchmarked at prices of just $70 or even $50 a barrel rather than the $80- $100...

  • NAIROBI, Aug 13- Barclays Bank of Kenya has earmarked 30 billion shillings for lending to small and mid-sized business as it seeks to catch up with profit growth at rivals. But results from Barclays Kenya, a unit of Barclays Plc, showed on Thursday it is lagging local rivals, with pretax profits up 5 percent in the first half of the year. Equity Bank and KCB Group,...

  • *Ford launches new compact car Figo Aspire in India. NEW DELHI, Aug 12- Ford Motor Co plans to use low-cost engineering it learned in India to develop compact models for other emerging markets, executives said, emulating a strategy used by Asian rivals that outsell it in the world's fifth-largest auto market. The U.S. automaker has struggled to compete in India, a...

  • TRIPOLI/ BENGHAZI, Libya, Aug 12- Libya's internationally recognised Prime Minister Abdullah al-Thinni said in a television interview that he would resign, after the station's host confronted him with questions from angry citizens who criticized his cabinet as ineffective. "I officially resign and I will submit my resignation to the House of...

  • TRIPOLI, Aug 12- Libya's internationally recognized Prime Minister Abdullah al-Thinni said in a television interview that he would resign, after the station confronted him with questions from angry citizens criticizing his cabinet as ineffective. "I officially resign and I will submit my resignation to the House of Representatives on Sunday," he told " Libya...