Economy

Cocoa producers Ivory Coast, Ghana, others should join forces to control supplies: ICCO

Top cocoa producers Ivory Coast and Ghana need to control supplies and join forces with other producing countries if they want to achieve higher prices, the head of the International Cocoa Organisation said.

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SA’s Adcock Ingram's profit drops as pandemic hits demand

South Africa’s Adcock Ingram said on Wednesday its first-half profit dropped 14.6% as fewer elective surgeries and doctor visits during the COVID-19 pandemic hit demand for its surgical instruments and branded prescription drugs.

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South African Rand slips as investors await annual budget

South Africa’s Rand weakened in early trade on Wednesday before the government’s annual budget presentation later in the day.

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De Beers hikes diamond prices again

De Beers lifted diamond prices at its third consecutive sale as an industrywide recovery from the coronavirus pandemic gathers pace.

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Namibia must act now on water supply: Schlettwein

Namibia’s City of Windhoek has just informed the Ministry of Agriculture, Water and Land Reform that the capital city will be aiming to reduce its water consumption to 108 litres per person per month.

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SA ramps up vaccine spending in "balancing act" amid debt worries

South Africa could spend up to R19.3 billion ($1.33 billion) over the next three years to vaccinate most of its population, the Treasury said on Wednesday, in a “difficult balancing act” meant to contain COVID-19 while avoiding a debt spiral.

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IMF, Ethiopia agree framework for loan deal reviews

The International Monetary Fund (IMF) said on Tuesday it had agreed a blueprint for the completion of reviews of Ethiopia’s loan programme, taking account of the impact of the coronavirus and the country’s “domestic security situation”.

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Ivory Coast seeks to sell 100 000 tons of cocoa

Ivory Coast’s cocoa regulator is seeking to sell around 100 000 tons of cocoa held by domestic traders who had bought the beans from farmers but lack access to the international export market, industry sources said on Monday.

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Elon Musk loses $15 billion in a day after Bitcoin warning

Elon Musk is no longer the world’s richest person after Tesla Inc. shares slid 8.6% on Monday, wiping $15.2 billion from his net worth.

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Bitcoin falls as it pulls back from record high

Cryptocurrency, Bitcoin, dropped as much as 6% in Asia trade on Tuesday and was trading around $52 000 as it pulls back from record highs following a long and sharp rally.

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