DAILY TRUST
Wednesday, May 16,2012
-Business/International
Food security key to Africa's
e(onomic development - UN rood KCurity arc ncedcd.-
Iy tt-n. w.-H
Arguing that Ictlon rocu$ed o n agriculture
SUB-SAHARAN Africa cannot sustain ill present
&Jone will not end rood Ins«urity ather, 1M report calls ror new Ipproaches cov.::rlng multiple $C'Clors; from rural InfrastruclUrc to health ICrvices. 10 new (orma of lOCill protectIOn and empowering iocaJ com·
ecOnomIC rawgrnce unless it eliminates the hungcrthat affects nearly a quartn- or Its people. the Umted NaLions lkvdopmnlt Prosramme (UNOP) said In iu new «POn . TItkd -Afria Human Ocvdopmcnt Report 2012: Towards a Food Secure Future': the rqxxt sakl "lmprcssi¥e GOP powth me. in Africa ~ not trarubled InlO the elimination of hungn- and malnutriUon.· 1"'M UNOP Admlnlalrator H~en Out sald at the launch yaterday that "lndUJfvc growth and people centred Ipproaches to
Tanzania inflation falls again TANZAl'.IA'S ynr-on-ync utflation rm: IdS lOr the b.uth anigtl! month in April on kn¥a- food and tnertycclb. but analysts Aid the dcdint wu 100 sktw and IOtecast the me 11 ' remain in double-digit fi~ ftr the rat of the rev. Ptxw rainJ KrOll NSt Afrb b much Ilflut yar affedcd food I«Iltlty .lIId d«tr1c:tty output, lngt1in(' .plUs in the levels of inllltion - and thteatmlog «0-
""""'powth.
TheIllU!-run NaIJonalBurnu olSlatUtia (NBS) Aid inflation in T.auania fd! to 18.7 pm:ml in
ApnIfrom 19pc:rccnl'nMXIlhcarIn aft~ rood prior: rises ~ to 24.1 puccnt yar-on-yur in April from 24.9paunl.~th .... "Ezdudlng food and erv:rv. which arc the most voWilc componmUi in the tota.I national consu.mtt pm Indica (NCPn. could
provide.1J)(ltt Jlabk inflation ra~ on _lOr _ figun poticy makm:." NBS Aid
CCIlI. on the month in
Food and non-akoholic beY. ........... up """'" 1WI the basket ol goods UKd 10 mcuwe TanuniU infbtJon. Food KaJUftU lOr 47.78 percent of the basket of sood- used to mcasun infIadon in east Afric;as S«Ond bigol cmnomf NBS aid prica fOIC o..a pu--
inflation r2lc for mcrgy dccrcascd to 24..9 percent in April 2012 from 29•• poerunt rtglSkfCd in March lOLl, lhc IUIlAla '8"'<J' aid. TanzanJI ndscd power tariffs by 40 puccnt in January 20 II to CO¥ft hlsbrr COltS of powcr-zcncr'Ilion from impOrted fud.(Rnltm)
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April. mainly
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and
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Zimbabwe inflation uickens to 4.03% in ZIMBABWE'S hcadllot conSWJK'I'" in latton rile quick.cMd 10 4.03 ~ranl Jftf-4n-year in April hum 3.98 pnunl In Mann. IIw nalionaJ 5tatlstia .gcncyA ld yeMenb.y.
On a month.on -month bub, inBatlon was .to 19 percent In April compared WIth Mann's 0 43 percent. tM Zim~ tobtion;al Starulical A£cncy IilkL (Reuters)
KEN\'A~ crnh'll banktold dollan
lows. whfle Kenyan Iham Inched
up for the rcutth IInJsht session. At LW 1300 GMT rrwUt dote, tW 5hi1llns wu quoted at U'jII()f,W 10 peT doUa.r off an intraday low of 84...SOI7O, t.reIy cbaoged 'rom Monday's doic of Il.8Sll4J15 -rhcr-e wu XHnC corporate demand tllIt weighed on the shU· hna. buI: II 8~..50 ~ saw the central bank Ink n Ming to 6dl doUl,,..;
S/Africa approves liquidity facility for banks SOlfTH Afr1ca, Re:JCrve Bank hu I~ the provision of. commltud Uquktity fadlilY (rom whkh lenden In the country
can dRw (rom 10 rued SUd UI liquidity coverage ratio requirements. it said yutcrday. Tests on ~n banb had exposed shortfalls in medinS liqukiity ratios because of South Afria's dependence on whoIcsU, short· temJ funding. ttfltnl bank said in a slatement. BanD thai expect 10 make UK of the racillty, whkh will ~ In place II the start 0(2013, wiU be requlrcd 10 pay a commiunml evm I( th~ do not draw from Ie
ree.
Kenya shilling recovers dtrect to oCCIrnmm:bll banks ytsterday, I16log the IhIIhng 08" 9rly
mumties. It al50 called (or the ensuring that poor and vul· nerable hlV\" gmtCT YOlce through strCflgthened local goV\"mmc.nt and d viJ sod· teyZ;rotJpa. '"The quicuninz; paceo( change Ind new economic Vlt&Jity on the continent make this In opportune time ror action; thr report Aid
aid a ICJlior trader at ooe comm«dal bonk. T............ iliq """""" the shilling to ~n MIJIPOI1cd if the antral bank u.:p.: Idling doIlan.. thoush that would be at the expense: or its fordp racrws, which stood It ~.66 billion last
"""-
The bank c:arlia" .soughl to mop u 5 billion ahlllinp through
.....~''''-........,''''''
worth 2.41 bUJion shiDings and acccptcd them all at 17 percent. (Rtutm)
Egypt's Palm Hills shrinks first-quarter net loss made few new sales in the ynr world', populous country Iincc the upriAog.. r""" kgoI dWlm"" ........ ,. Rt:tmue: for the: rltSt quarteT their land holdings IJince a coon
EGYPT'S Palm HUb., the coon· tr(s S«Ond-biggest lUted dcvdopc!", said yaterday it had narn:-cd III rlnl-qua.rtCT nclloa as opcralinB cosu dcdincd. 11Jc luxury real estalr drvdopcr po5ted a net lou oll6J million f.gyptJan poulllh In the finl quutcr"of2012, compared with I loaofl6.l million poonchin the same period a yur earlier. 11Jc finn, battered by im"CItigations into previous state Land Ales and by dlent cancdlations after the uprising that toppled HMnI Milbank lui YeaT, hu
rlJC)Jt
fdJ to 29 mUlion poundI (rom 193.5 million In the AmI!: paiod a yur carlin.
I" GpftlItlng COIIU dropped
by 91 pcra:nl from 201 .7 mil-
lion pounds In the fil'$l quutu 0(2011 to 17.7 million pounds. whkh ana/fits Aid could be an indicator of I lowu rate of cancdlaLions and sJOWtt construction and deliveries.
Thccompanybjustoncofxv· era! real mate fil1lll in the Arab
ruled that a ale of IlalC' land to Talaal Moustara Group ('fMG) was lIkp.I because il was not auc-
......
TMG,
finl--quartCT net 2.S percent IS sales rebounded (rom the same period 0(2011 Palm HiH OlIirman Yasaecn Maruour and former housing ministtt Ahmed d · Maghrabi wuc cleared ofc.onupUon cbarza in a stale Iuld sale in July. (RtuloJ)
prOOt
rote