EMERGING MARKETS For the top emerging markets news, double click on AFRICA STOCKS For the latest news on African stocks, click on SOUTH AFRICA MARKETS South Africa’s rand backtracked against the dollar on Monday as forward momentum faded in the face of technical resistance levels and a lack of local data releases to drive sentiment. NIGERIA MARKETS Nigerian stocks climbed to more than two year highs on Monday, lifted by gains in Dangote Cement as investors piled into the shares in anticipation of its half-year earnings. NIGERIA OIL-OPEC OPEC moved on Monday to cap Nigerian oil output and called on several members to boost compliance with production cuts to help clear excessive global stocks and support flagging prices. NIGERIA OIL-SHELL Shell’s Nigerian subsidiary has shut its 180,000 barrel-per-day Trans Niger pipeline in Nigeria due to a leak, the company said in a statement on Monday, effectively shutting in exports of Bonny Light crude oil. KENYA MARKETS The Kenyan shilling eased on Monday due to dollar demand from the manufacturing sector, traders said. KENYA POLITICS Kenyan opposition presidential candidate Raila Odinga on Monday fielded questions alone on stage after his rival, President Uhuru Kenyatta, failed to show up for a debate between the two. KENYA AIRLINES Kenya Airways said on Monday one of its aircraft was damaged when a tow truck that was going to pull it from a parking bay hit the plane’s body and engine. UGANDA MARKERTS The Ugandan shilling was unchanged on Monday, underpinned by subdued dollar demand from both commercial banks and importers. GHANA RATES Ghana’s central bank cut its benchmark interest rate by 150 basis points to 21.0 percent on Monday, citing a downward trend in consumer inflation and the potential for higher economic growth on increasing oil output. ZAMBIA MAIZE Zambia will export 100,000 of maize to three east African states facing a shortage, with the bulk of the grain going to Kenya, a government official said on Monday. IVORY COAST COCOA Cocoa arrivals at ports in top grower Ivory Coast had reached around 1.926 million tonnes by July 23 since the start of the season on Oct. 1, exporters estimated on Monday, up from 1.431 million tonnes in the same period last season. MOZAMBIQUE INVESTMENTS South Africa’s Tongaat Hulett said on Monday it will build a refinery at its Mozambican sugar mill to process brown sugar into white sugar, in a country which has a shortage of refined white sugar. BOSTWANA ENERGY Development of a new 1.35 million tonne per annum coal mine in Botswana has stalled due to a dispute over compensation payable to farmers holding surface rights in the proposed mining area, the company developing the mine said on Monday. TANZANIA MINING Tanzania has issued a notice demanding $190 billion in unpaid taxes, penalties and interest from Acacia Mining, the gold mining company said on Monday, adding it did not believe it owed the money. To Receive Free News Updates, Add To Your WhatsApp: 08033857245; For Adverts Enquiries, Call 08083609209, To Publish Your Articles Or News Stories, Email editor@skytrendnews.com. ]]>