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| Kenya's top coffee prices rise at latest auction Tuesday, Jan 29, 2013 11:41 PM PST  NAIROBI (Reuters) - The top price of Kenya's benchmark grade AA coffee rose to $342 per bag this week from $336 previously, the Nairobi Coffee Exchange (NCE) said on Wednesday. While the east African nation is a relatively small grower compared with Brazil and Vietnam, roasters prize its speciality beans for blending with those from other countries. During the auction, 22,388 bags of coffee were offered for sale and only 5,949 bags were bought. At the last sale on January 22, some 18,265 bags were offered for sale and 5,636 sold. ... Full Story | Top |
| South African stocks open at record highs Tuesday, Jan 29, 2013 11:31 PM PST  JOHANNESBURG (Reuters) - South African stocks hit record highs at the start of trading on Wednesday due to resurgent appetite for risky assets. The Top-40 index touched a record high of 36,349.75 while the All-share index hit a record high of 40,759.33. Full Story | Top |
| IMF sees higher Mauritius GDP growth in 2013 Tuesday, Jan 29, 2013 11:30 PM PST  PORT LOUIS (Reuters) - Mauritius' economy will grow 3.7 percent in 2013 compared to 3.3 percent last year, helped by improved activity in fisheries, financial services and information and communication technology, the International Monetary Fund said on Wednesday. The IMF had previously forecast the Indian Ocean island's economy would expand 3.7 percent in 2012. "Growth will be fuelled by strong growth in fisheries, information and communication technology and financial services," Martin Petri, IMF mission chief told a news conference. The IMF's forecast matches the government's own ... Full Story | Top |
| Toyota to recall 752,000 Corollas in U.S. for airbag problems Tuesday, Jan 29, 2013 11:29 PM PST  TOKYO (Reuters) - Toyota Motor Corp will recall 752,000 Corolla and Corolla Matrix vehicles in the United States over airbag problems, the automaker said on Wednesday. Separately, Toyota will also recall 270,000 Lexus IS vehicles in the United States over wiper problems, the company said in a statement. (Reporting by Yoko Kubota; Editing by Daniel Magnowski) Full Story | Top |
| H&M Q4 pretax lags consensus, to keep up store opening pace Tuesday, Jan 29, 2013 11:25 PM PST STOCKHOLM (Reuters) - Hennes & Mauritz, the world's second-largest fashion retailer, posted fiscal fourth-quarter pretax profit below expectations on Wednesday and said it would stay on the path of strong store expansion this year. Pretax earnings in the September-November period for the retailer, whose key rival is Spanish group Inditex, fell to 6.6 billion crowns ($1.03 billion) from a year-earlier 6.8 billion. Analysts polled by Reuters had on average forecast an unchanged profit. It said its overall 2012 earnings, up to 22.3 billion crowns from 20. ... Full Story | Top |
| Japan PM shrugs off global criticism over latest stimulus steps Tuesday, Jan 29, 2013 11:11 PM PST  TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe waded into the growing global debate about currency wars for the first time on Wednesday, shrugging off criticism that Tokyo was trying to intentionally weaken the yen with its monetary and fiscal stimulus measures. "The measures taken by the government and the BOJ are aimed at beating deflation and achieving sustainable economic growth," Abe said, when asked by an opposition party leader in parliament about criticism from some overseas policymakers that the steps were attempts by Tokyo to directly weaken the yen. ... Full Story | Top |
| S.Africa's rand under pressure amid portfolio outflows Tuesday, Jan 29, 2013 11:04 PM PST  JOHANNESBURG (Reuters) - South Africa's rand struggled to regain strength on Wednesday after hitting a four-year low earlier this week and is likely to remain under pressure due to foreign bond holders exiting the market. The rand was at 9.0434 to the dollar at 0643 GMT, slightly weaker than its close in New York on Tuesday. Portfolio outflows of up to 4 billion rand from the bond market since mid-January have weighed on the currency, while labour unrest has also fuelled negative sentiment about Africa's largest economy. ... Full Story | Top |
| S.Africa December credit growth quickens to 10.09 percent y/y Tuesday, Jan 29, 2013 10:39 PM PST  JOHANNESBURG (Reuters) - Growth in credit demand by South Africa's private sector accelerated to 10.09 percent year-on-year in December, compared with a 9.59 percent rise in November, central bank data showed on Wednesday. Expansion in the broadly defined M3 measure of money supply was slower at 5.17 percent year-on-year in November after rising by 6.26 percent the previous month, the South African Reserve Bank said. Full Story | Top |
| Asian shares gain on global recovery outlook Tuesday, Jan 29, 2013 10:25 PM PST  TOKYO (Reuters) - Asian shares advanced on Wednesday as investor confidence in the global economic outlook strengthened on solid U.S. data, giving comfort to investors ahead of the U.S. Federal Reserve's monetary policy decision due later in the session. Optimism over economic recovery from strong U.S. housing data and China's promising economic growth forecast for 2013 raised expectations for robust demand for fuel and industrial commodities, underpinning oil prices and lifting copper. ... Full Story | Top |
| Japanese airlines had Dreamliner battery issues before recent incidents Tuesday, Jan 29, 2013 10:25 PM PST  TOKYO (Reuters) - Japan's two biggest airlines replaced below-par lithium-ion batteries on their Boeing Co 787 Dreamliners in the months before separate incidents led to the technologically advanced aircraft being grounded worldwide due to battery problems. ... Full Story | Top |
| Fed seen maintaining bond-buying, but divisions remain Tuesday, Jan 29, 2013 10:03 PM PST  WASHINGTON (Reuters) - The Federal Reserve is expected to keep monetary policy on a steady path when it concludes a two-day meeting on Wednesday, though behind the scenes intensive debate continues over when the controversial bond-buying program should be curtailed. The policy statement issued by the U.S. ... Full Story | Top |
| U.S. growth seen braking as inventories, government weigh Tuesday, Jan 29, 2013 10:03 PM PST WASHINGTON (Reuters) - The U.S. economy likely grew at its slowest pace in nearly two years in the fourth quarter as businesses added less stock to their warehouses and government spending fizzled, setting it up for a difficult start in 2013. Gross domestic product probably expanded at a 1.1 percent annual rate, braking sharply from a 3.1 percent clip in the third quarter, according to a Reuters poll of economists. That would mark the weakest growth pace since the first quarter of 2011 and it would show the economy entering the new year with little momentum. ... Full Story | Top |
| Nigeria removes $1 bln from oil savings to give governors Tuesday, Jan 29, 2013 09:54 PM PST  ABUJA (Reuters) - Nigerian President Goodluck Jonathan approved the removal on Tuesday of $1 billion from the country's oil savings to distribute to state governors for unspecified projects, one of the governors said after a meeting with him. The withdrawal leaves $8.242 billion in the Excess Crude Account (ECA), Nigeria's mechanism for oil savings, Rivers state governor Rotimi Amaechi said after the meeting. Finance Minister Ngozi Okonjo-Iweala has been on a drive to boost savings for Africa's second largest economy, doubling the balance in the ECA over a year before this withdrawal. ... Full Story | Top |
| Japan: no link between 787 battery monitor unit-making process, ANA problem Tuesday, Jan 29, 2013 09:50 PM PST TOKYO (Reuters) - Japan's transport ministry said the manufacturing process at the maker of the monitoring unit for Boeing Co Dreamliner batteries did not appear to be linked to the battery problem on an All Nippon Airways- operated 787 that made an emergency landing in western Japan this month. The global fleet of 50 Dreamliners - 17 of which are operated by ANA - remains grounded as investigators in Japan and the U.S. ... Full Story | Top |
| Japan Airlines: replaced 787 batteries on "a few occasions" Tuesday, Jan 29, 2013 09:39 PM PST TOKYO (Reuters) - Japan Airlines Co Ltd said it had replaced batteries on Boeing Co's 787 Dreamliner on a few occasions, but declined to give specifics on when the units were replaced or whether they were reported to authorities. All Nippon Airways Co Ltd said on Wednesday that it had replaced 10 below-par lithium-ion batteries on 787 jets in the months before one of the passenger jets was forced to make an emergency landing due to an overheated battery triggering smoke alarms. (Reporting by Dominic Lau; Editing by Chris Gallagher) Full Story | Top |
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