3.9%
The economy of Mauritius is expected to grow by 3.9 percent this year, down from a previous forecast of 4.0 percent in December, due to an expected slowdown in agriculture and fishing activities, the statistics office said on Friday. The Indian Ocean island economy expanded by 3.8 percent in 2017, lower than the previous estimate of 3.9 percent. Statistics Mauritius said agriculture would expand by 1.1 percent this year instead of 2.0 percent, due to no growth in sugarcane and lower growth in other agricultural activities.
$400bn
Here’s a fresh reason to celebrate the end of a lousy quarter in global equities: the new one kicks off with the potential adrenaline boost of as much as $400 billion in dividends. “We think it is no coincidence that spring is also a seasonally strong period for equities,” Morgan Stanley strategists including Andrew Sheets wrote in a note to clients Wednesday. Up to $400 billion is set to be paid into investor accounts between March and May, they calculated. “April in particular tends to be a strong month for global equity returns.”
$460,000
The U.S. is to suspend duty-free access to Rwandan textile imports because of the African nation’s refusal to lower trade barriers for American-made clothing and shoes.
The suspension applies to all AGOA-eligible apparel products from Rwanda in 60 days, the U.S. Trade Representative’s office said in a statement on Thursday. The U.S. exported $330,000 worth of textiles and apparel to Rwanda in 2016 and imported about $460,000. Coffee and tea shipments were Rwanda’s top U.S. export worth $18 million.
14%
South Africa’s trade account recorded a surplus of R430m in February, while January’s deficit was revised downwards by R540m, to R27.12bn, data released by the South African Revenue Service (SARS) showed on Thursday.
February’s numbers bring the year-to-date deficit to R26.69bn, compared to R7.59bn over the same period in 2017. The increased deficit was as a result of a 3.1% rise in exports, while imports rose 14%.
1.6%
Global stocks are set to chalk up their worst quarterly performance in two and a half years. The FTSE All World index is down 1.6 per cent in the year to March 29, with many global indices putting in a spirited performance on Thursday ahead of the Easter weekend. With Japan and China still set to trade on Friday, this still looks to be the FTSE All World’s first quarterly drop since the March quarter of 2016, and the biggest quarterly drop since the three months ended September 2015. The S&P 500, down 1.4 per cent this quarter, is set to end a nine-quarter winning streak.
