Saturday, 28 February 2015

'Knights Templar' Drug Cartel Leader Servando Gomez Arrested In Mexico

la tuta
Servando "La Tuta" Gomez (C) boards a helicopter during a media conference about his arrest in Mexico City February 27, 2015. Mexico captured its most wanted drug lord on Friday.
Servando Gomez, better known as “La Tuta,” head of the brutal "Knights Templar" drug cartel, was arrested by Mexican police early Friday, according to media reports. The former teacher was captured by Mexican federal police while trying to sneak out of a house in the state of Michoacan.
Gomez was arrested along with eight bodyguards and several other associates, who between them held a grenade launcher, three grenades, a machine pistol, and

Uber Confirms Database Breach, Personal Data Of 50,000 Drivers Revealed

RTR4HGTL
Uber says its database was hacked, and the attackers took off with the personal details of roughly 50,000 drivers.
Uber said Friday that its database was breached in a cyberattack that exposed the personal data of roughly 50,000 of its drivers. The ridesharing service claims that the hacker accessed only the names and license numbers of a “small percentage” of its drivers.
Uber said, in a company blog post, that it found evidence of the possible breach by someone from outside the company in September. It responded by changing the database’s password and began an investigation that revealed the database had been hacked once in May.
The attacker got information about current and former drivers from a number of states, Uber said. However, the company added, it had not “received any reports of actual misuse of any information as a result of” the breach. Uber did not say why it waited to reveal

NSFW: Google Cancels Ban On Blogger Porn After Receiving 'A Ton' Of Angry Feedback

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Google has flipped on a no-porn policy for Blogger users after receiving "a ton of feedback" from angry users.
Google’s ban on porn lasted less than three days. After announcing that sexually explicit material would be banned completely from the company’s Blogger sites, Google retreated.
“We’ve had a ton of feedback, in particular about the introduction of a retroactive change (some people have had accounts for 10+ years),” Google spokeswoman Jessica Pelegio wrote, “but also about the negative impact on individuals who post sexually explicit content to express their identities.”
The search giant said that it will instead “step up” its enforcement of an existing policy that prohibits commercial pornography. Users of the service need to

North Korea's Kim Jong Un Tells Army To Prepare For 'War' Against The US And Its Allies

North Korea's Kim Jong Un
North Korean leader Kim Jong Un gives field guidance at the construction site of the Sci-Tech Complex in this undated photo released by North Korea's Korean Central News Agency (KCNA) in Pyongyang on Feb. 27, 2015.
North Korean leader Kim Jong Un told his country's army Saturday to prepare for a war against the U.S. and its allies, amid continuing tensions with South Korea. The comments follow a joint naval drill that began between the U.S. and South Korea, which took place Friday.
“The prevailing situation where a great war for national reunification is at hand requires all the KPA [Korean People's Army] units to become [elite] Guard Units fully prepared for war politically and ideologically, in military technique and materially," Kim said, according to
Arun Jaitley
India's Finance Minister Arun Jaitley (C) poses as he leaves his office to present the 2015/16 federal budget in New Delhi February 28, 2015. Prime Minister Narendra Modi's stomach for free-market economics faces a major test on Saturday, in a budget India's top economic advisor has warned could wreck the leader's promises of "good days" if there's no roadmap to reform.
NEW DELHI: India on Saturday unveiled a please-all federal budget that ostensibly sought to balance the interests of the country’s impoverished millions and its business community. 
“India is about to take off,” the country's finance minister

Gazprom has a 'much wider agenda': Naftogaz CEO

There are ulterior motives behind Gazprom's threats to cut gas supplies to Europe, the chief of Ukraine's state-owned gas firm told CNBC.

"I believe there is definitely a much wider agenda than just gas and business," Andriy Kobolyev, CEO of Naftogaz said on Thursday.

Gazprom warned earlier this week that it would turn off gas flows en-route to Europe if Ukraine failed to pay outstanding accounts.

"With the current level of supplies, prepayments will be enough only up till the end of the week," Gazprom spokesman Sergei Kupriyanov told Russian television Thursday, according to Reuters. "If Kyiv doesn't make new payments, then naturally we won't be able to continue supplying Ukraine with gas."
However, Kobolyev told CNBC that the threat of a cut-off in supply has a geopolitical angle.

"Gazprom is trying to cut the gas supply to the EU to

The dress that broke the Internet



A badly lit photograph of a $77 off-the-rack dress broke the Internet Friday, spawning arguments, memes and half-baked pseudo-scientific explanations over the viral frock's real colors.
By some reckonings, Buzzfeed invented "viral," but its deputy news director, Jon Passatino, appeared truly surprised by just how many clicks the dress generated. He tweeted that it broke the site's traffic records, with more than 670,000 people viewing the post simultaneously at one point and garnering 16 million hits in six hours.
Neetzan Zimmerman, formerly an editor at another viral content machine, Gawker, and widely considered an expert in virality, tweeted that the dress is a "viral singularity."
It appears to have started with a Tumblr post of the photo, headlined "what colors are

Does Greece need a THIRD bailout?

Newly appointed Greek Finance Minister Yanis Varoufakis attends a hand over ceremony in Athens, January 28, 2015.



Even before the ink was dry on the extension of its current bailout program, speculation is growing that embattled Greece is on the verge of asking for yet more cash.
"The Greek need for a third program is extremely high," Carsten Brzeski, a senior economist at ING told CNBC via email. "There will be new negotiations. And these negotiations will be tough."
Greece received its first slice of aid in 2010 with a 110 billion euro ($123 billion) rescue package. Its second program brought the bailout total to 240 billion euros ($272 billion) and the deadline for repayment was extended this week - for another four months - on the premise that Greece's government will make a renewed push for economic reforms. Unlike other euro

What rout? Oil on track for best month since 2009

Brent crude oil prices were poised on Friday for their biggest monthly gain since 2009, lifting the outlook for the battered commodity.
U.S. crude oil was set to end February with its first monthly rise in eight months, with signs of a pick-up in Chinese demand and supply outages in the North Sea lifting sentiment in oil markets.
Read MoreBrent rises above $61 a barrel

"Evidence suggests the worst is over for oil because prices have stabilised," said Neil Atkinson, head of analysis at Lloyd's List Intelligence. "However, there is an argument that we have paused on a long-term downtrend as these is an ongoing surplus of demand."
"It's still too early to declare victory for oil," he added.
Brent crude prices rose 2.3 percent on Friday to trade

Who’s to blame for flat beer trade?

Bottles of Corona beer are shown in Chicago.
Getty Images
Bottles of Corona beer are shown in Chicago.
Pilsners, pale ales, brown beers, dark lagers and stouts: there's so many different types of beer to choose from to help you socialize with friends, watch that boring ball game or simply drown your sorrows. But despite a craft "revolution" - especially in the U.S. - the long-term trends for beer don't look great, with market share being squeezed by rivals like spirits and soft drinks.
A round of research notes this month did little to lighten the mood on the big businesses behind the brewing of beer, with Renaissance Capital highlighting that beer growth rates have slowed in the past decade.

"Changes in the global workforce and narrowing income gaps, favoring women, plus millennials' preferences for non-beer products have contributed to beer's

5 billion Android apps open to hack

Over five billion downloaded Android apps are vulnerable to being hacked, cybersecurity researchers have found, as attackers exploit flaws in Google's operating system.
Some 96 percent of malware -- or malicious software -- employed by hackers target Google Android, according to U.S. firm FireEye, which analysed more than 7 million mobile apps on Android and Apple iOS between January and October 2014.
Apps designed to steal financial data were especially popular, the researchers found. The open-source nature of Android allows hackers to find the code behind a popular app, they said, and recreate the app almost identically but with a malicious code to infect users.
"You can get all the code and then you can insert additional instructions and make it look and feel like the original app and no way for a consumer to tell the difference when they download it," Jason Steer, director of technology strategy at FireEye told CNBC by phone.
Patrick Foto | Moment Open | Getty Images
Google did not respond to a request from CNBC for comment.
Malware targeted at Google's operating system has surged from roughly 240,000 unique samples in 2013, to more than 390,000 unique samples in the first three quarters of 2014, according to the research.
Fireye said that one of Android's biggest vulnerabilities was the way in which its mobile apps communicate information back to servers. It found that much of this

Putin slammed as 'naked king'...but ruble rallies

A high-profile critic of Russian President Vladimir Putin has likened him to a "naked king", saying that he presiding over an economy that will weaken further, but the Russian currency at least looks to be in recovery.
Vladimir Putin "Putin with (a) bare chest isn't a mighty leader: He is a naked king," Mikhail Khodorkovsky, the exiled former oil orligarch, said Thursday, according to a Reuters report, saying that Putin's power was waning.
"Russia will have to stand long in agony by the bed of the sick emperor. It will be painful for the population and dangerous for the West," he added.

Khodorkovsky was once Russia's richest man as the head of oil giant Yukos but was arrested and jailed in 2003 on allegations of tax evasion and fraud in a case that was widely seen as politically motivated due to his criticism of Putin.
Mikhail Klimentyev | RIA Novosti | Kremlin | Reuters
Vladimir Putin
After spending 10 years in custody, Khodorkovsky was

Prominent Russian opposition figure Nemtsov shot dead

Russian opposition politician and former Deputy Prime Minister Boris Nemtsov attends an unsanctioned rally at Red Square, April 8, 2012, in Moscow.
Sasha Mordovets | Getty Images
Russian opposition politician and former Deputy Prime Minister Boris Nemtsov attends an unsanctioned rally at Red Square, April 8, 2012, in Moscow.
Russia's Interior Ministry says Boris Nemtsov, a leading opposition figure and former deputy prime minister, has been shot and killed near the Kremlin.
Nemtsov, a sharp critic of President Vladimir Putin, was killed early Saturday. His death comes just a day before a major opposition rally in Moscow.
President Putin condemned the murder and said it may

Things are looking up for the global gun market

The gun trade is expected to have a more favorable year—even though estimates on its size vary widely—after shooting blanks in 2014.
The Ruger Mark III Target Rimfire Pistol.
Source: Ruger
The Ruger Mark III Target Rimfire Pistol.
One proxy for U.S. firearms demand is the FBI's National Instant Criminal Background Check System, which posted an 8.4 percent year-over-year increase in activity in January. That figure was the second-highest January on record for the 16-year-old system and marked the fourth consecutive monthly increase of year-to-year growth in the FBI's numbers since September 2013.
Read MoreThe hottest new guns at the 2015 SHOT show

Globally, the legal small arms market is forecast to grow from $4.1 billion in 2014 to $5.3 billion in 2020, a compound annual growth rate of 4.2 percent, according to

Things are looking up for the global gun market

The gun trade is expected to have a more favorable year—even though estimates on its size vary widely—after shooting blanks in 2014.
The Ruger Mark III Target Rimfire Pistol.
Source: Ruger
The Ruger Mark III Target Rimfire Pistol.
One proxy for U.S. firearms demand is the FBI's National Instant Criminal Background Check System, which posted an 8.4 percent year-over-year increase in activity in January. That figure was the second-highest January on record for the 16-year-old system and marked the fourth consecutive monthly increase of year-to-year growth in the FBI's numbers since September 2013.
Read MoreThe hottest new guns at the 2015 SHOT show

Globally, the legal small arms market is forecast to grow from $4.1 billion in 2014 to $5.3 billion in 2020, a compound annual growth rate of 4.2 percent, according to

Ignore sanctions, invest in these Russian stocks









Despite a weakened ruble, increasing inflation and fighting with Ukraine, one analyst is bullish on Russia—or at least a couple of the country's stocks.
"It's about finding the right stocks, and in Russia we are managing to find them," Conrad Saldanha of Neuberger Berman, told CNBC's "Power Lunch" on Friday.
The analyst noted: "We've got some good assets and high-quality businesses generating good cash flow. The risk with all of this is the ruble, which has been weak and lost almost 50 percent of its value over the last 12 months so."

Magnit


Russia's biggest food retailer, Magnit, is a top pick for Saldanha, because its business tends to generate a lot of cash.

"Inflation is good for food retail generally but not for

Meet the man who beats the market without fail

Aviva France's head office in Paris.
Aviva
Aviva France's head office in Paris.
In one of the most astounding situations in the financial world, Max-Herve George has a way to invest with 20-20 hindsight.
The 25-year-old French citizen living in Switzerland owns a life insurance contract through Aviva France that allows him to buy into investment funds at week-old prices, the Financial Times reports.
The Fixed Price Arbitrage Life Insurance Contract was agreed to by a company that evolved into Aviva France. The plans, once not uncommon in France, were sometimes offered to wealthier clients in an era when instantly looking up an asset's performance and then

Why this weekend matters for India









Given the choice to invest in China or India in 2013, the average investor would have more than likely opted for China.
Ask the same investor today, and the answer would most likely be India. But before they jump in, they may want to wait for this weekend.

U.S. President Barack Obama laughs as he talks with India's Prime Minister Narendra Modi at the Rashtrapati Bhavan presidential palace in New Delhi, Jan. 26, 2015.
Jim Bourg | Reuters
U.S. President Barack Obama laughs as he talks with India's Prime Minister Narendra Modi at the Rashtrapati Bhavan presidential palace in New Delhi, Jan. 26, 2015.
India's growth is rebounding, its current account deficit is narrowing and inflation has come down thanks to lower oil prices.
Plus investors like new Indian Prime Minister Narendra Modi's message: reform the economy, build infrastructure and help India grow. For months, markets have been steadily rising on hopes that Modi will deliver the goods. The Bombay Sensex is up around 40 percent over the past one year.
Read MoreHopes for a new, more open India aren't dead yet
On Saturday, investors will tune in to see if Modi delivers the

Fines, sell-offs and subsidy cuts: Life under cash-squeezed ISIS









ISIS fighters on parade
Reuters
ISIS fighters on parade
Once smokers were flogged in Syrian territory ruled by the Islamic State of Iraq and the Levant, now they are fined about $65. Local rulers dismantle old state facilities to sell for parts. And shopkeepers complain Isis fighters no longer spend so freely.

The world's richest jihadi group is not as flush as it once was, say Syrians who live under its rule. It has cut spending on fuel and bread subsidies, while increasingly shaking down locals for cash. Fighters themselves may be feeling the squeeze, too.
"Isis took some kind of financial hit . . . Some fighters' salaries were cut, including my nephew," said a man in the eastern city of Mayadeen, who says an apparent drop in

Germany backs Greek plan, bailout fatigue grows











A man adjusts a European flag, next to a Greek flag outside the Greek embassy in Brussels February 19, 2015.Germany's parliament approved an extension of Greece's bailout on Friday but a record number of dissenters from Angela Merkel's conservatives underscored growing skepticism in Berlin about whether a new Greek government can be trusted to deliver on its reform pledges.
With Finance Minister Wolfgang Schaeuble promising not to let Greece "blackmail" its euro zone partners, 542 members of the Bundestag voted "yes" to the extension, while 32 opposed it and 13 abstained.
It was the biggest majority for a euro zone bailout since the crisis erupted five years ago, in part because Merkel's year-old "grand coalition" enjoys a dominant position in the Bundestag lower house.
Yves Herman | Reuters
A man adjusts a European flag, next to a Greek flag outside the Greek embassy in Brussels February 19, 2015.
But 29 of the 32 "no" votes came from Merkel's Christian Democrats (CDU) and their sister party, the Bavarian Christian Social Union (CSU)—more conservative rebels than any other lower house vote.

"We Germans should do everything to keep Europe together," said Schaeuble, the 72-year-old political veteran who has clashed repeatedly with the new le

Fischer Says Odds Greatest for Rate Rise in June, September


Stanley Fischer
Federal Reserve Vice Chairman Stanley Fischer. Photographer: Andrew Harrer/Bloomberg
(Bloomberg) -- Federal Reserve Vice Chairman Stanley Fischer said on Friday the central bank looked most likely to raise interest rates in June or September, although economic developments might warrant different timing for liftoff.
“I don’t think there is an emphasis on June instead of September” Fischer told a monetary policy forum in New York. He added that judged by the views of Fed officials and investors “it seems those two months get the main weight of probability.”
At the same time, he said, “things could happen” that could change those assumptions. “We will make a decision and we will make it on the basis of evidence.”
Fed Chair Janet Yellen this week began to prepare the

Dollar’s Worst Month Since June Doesn’t Mean Rally Is Finished


Janet Yellen Delivers Testimony
Janet Yellen, chair of the U.S. Federal Reserve, speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Tuesday, Feb. 24, 2015. . Photographer: Andrew Harrer/Bloomberg
(Bloomberg) -- Don’t panic. The dollar’s smallest gain since June doesn’t mean the rally has run its course.
The greenback barely rose in February, after climbing 17 percent since the start of July as the Federal Reserve moves closer to reducing stimulus, while central banks around the world cut interest rates. That contrast will be on display with a report March 6 forecast to show the U.S. jobless rate matching the lowest level since 2008 and a European Central Bank meeting March 5 to discuss its unprecedented bond-buying program.
“We’re likely to continue to see investors move money to the U.S. as rates here clearly look far more attractive than rates in the rest of the world,” said Kate Warne, a St. Louis-based investment strategist at Edward Jones & Co., which manages $870 billion. “That spread, plus the expectation that the Fed starts to raise rates later in the year will keep the dollar well supported and moving higher.”
The Bloomberg Dollar Spot Index, a gauge of

Bring It on LeBron, Says Free-Throw Specialist in Casino Contest


Ed Palubinskas and Brandon Bass
Boston Celtics center-forward Brandon Bass, right, pretends to block a shot by shooting instructor Ed Palubinskas during a visit to the Great Wall of China. Source: Ed Palubinskas via Bloomberg
(Bloomberg) -- Sixty-four-year-old Ed Palubinskas would love to face the world’s best basketball players as Atlantic City’s Borgata Hotel Casino & Spa turns to the sport to help lure customers.
“I hope LeBron James joins, are you kidding me?” said Palubinskas. “It’s not even a contest.”
The casino on March 21 will introduce skill-based gaming, recently approved by the New Jersey Division of Gaming Enforcement, in the form of a free-throw contest. The winner takes home at least $5,000.
National Basketball Association members are by

U.S. Oil-Rig Retreat Slows as Fewest in 8 Weeks Are Shut


Oil Declines Below 60USD A Barrel
Photographer: Akos Stiller/Bloomberg
(Bloomberg) -- The tide may be turning in the retreat of the U.S. oil explorers.
Rigs targeting oil fell by 33 to 986, the smallest decline since Jan. 2, Baker Hughes Inc. said on its website Friday. Energy rigs in the Permian Basin shale region dropped by seven to 355 after dropping by as much as 49 earlier in the month. The Eagle Ford in Texas lost three rigs.
The slowing decline in rig numbers comes as oil posted its first monthly increase since June after falling 50 percent in a year. The U.S. has lost more than a third of its oil rigs over four months in a retrenchment that threatens to bring the nation’s shale boom to a halt. Saudi Arabia has sought to allow prices to fall to curb U.S. and other non-OPEC output.
Three or four weeks ago, the rig count “was falling like Newton’s apple and now it’s just rolling down the hill,” James Williams, president of WTRG Economics, said in a

Robert Benmosche, Former AIG CEO, Dies at Age 70

(Bloomberg) -- Robert Benmosche, the combative former chief executive officer of American International Group Inc. who led the insurer, once the world’s largest, to repay a $182.3 billion taxpayer bailout, has died. He was 70.
He died on Friday at NYU Langone Medical Center in New York following treatment for lung cancer, AIG said in a statement. The insurer announced in October 2010 that Benmosche had cancer, and the CEO said in August that he’d moved up his departure after his prognosis worsened. Benmosche was replaced by Peter Hancock on Sept. 1.
“Everyone in the AIG family has been greatly blessed by Bob’s vision, his loyalty, and his friendship,” Steve Miller, AIG chairman, said in the statement. “Bob was a

Upbeat Consumers Propel U.S. Fourth-Quarter Growth: Economy


Consumer spending last quarter climbed by the most in four years, underscoring the underlying strength of the expansion.
Photographer: Emile Wamsteker/Bloomberg
(Bloomberg) -- American households picked up spending in the fourth quarter and remained confident in early 2015, indicating the economy is poised to overcome any bumps caused by slower global demand.
The biggest gain in consumer purchases in four years helped gross domestic product expand at a 2.2 percent annualized rate at the end of 2014, although that was less than previously estimated, according to Commerce Department data issued Friday in Washington. Other reports showed household sentiment held close to an 11-year high, manufacturing in the Chicago area shrank and more people signed contracts to buy a home.
An improving job market and genrally cheaper fuel p

Nasdaq Caps Best Month Since ’12 as Apple Stock Adds $66 Billion


Apple Inc.
Apple, which has the biggest weighting in the Nasdaq, paced gains in February. Photographer: David Paul Morris/Bloomberg
(Bloomberg) -- Global equities from Europe to Asia rallied in February to multiyear highs, while the best month since 2012 for the Nasdaq Composite Index left the technology barometer within striking distance of its dot-com era record.
The Nasdaq Composite surged 7.1 percent, climbing within 60 points of its March 2000 high, as Apple Inc. rose 9.6 percent. The Standard & Poor’s 500 Index increased 5.5 percent, rebounding from its worst month in a year with the biggest gain since October 2011. The MSCI All-Country World Index added 5.4 percent after rising to an intraday high on Feb. 26. The Chicago Board Options Exchange Volatility Index fell 36 percent for its biggest monthly drop on record.
“What we’re seeing is better signs of economic growth, strong earnings outside the energy and materials sectors,” Michael Strauss, chief investment strategist and chief economist at Commonfund Group in Wilton, Connecticut, said in a phone interview. The firm oversees about $25 billion. “That’s a support point for Nasdaq, given its lower exposure to energy.”
The Nasdaq is flirting with 5,000 after advancing for 10 straight days through Feb. 24, and is now 1.7 percent from its bubble peak. At its current pace, the index is poised to rise for nine straight quarters, a feat it’s never accomplished.
It has taken two bull markets and more than 4,500 days for the technology index to get close to making up all the ground lost in the dot-com collapse. The S&P 500 and Dow Jones Industrial Average reached all-time highs in October 2007 and again in March 2013.

Fresh Records

Apple, which has the biggest weighting in the Nasdaq, paced gains in February. Avago Technologies Ltd. climbed 24 percent in the month as the semiconductor company agreed to purchase Emulex Corp. Salesforce.com surged 23 percent as it raised its revenue forecast.
The S&P 500 reached fresh records four times in February, while the Dow average climbed 5.6 percent for its best month since January 2013. The index also topped its record from December for the first time in 2015.
U.S. stocks climbed to records on Feb. 25 as Federal Reserve Chair Janet Yellen said inflation and wage growth remain too low for the central bank to raise rates at its next meeting.
Data showed gross domestic product in the fourth quarter rose at a 2.2 percent annualized rate. American households picked up spending in the fourth quarter and remained confident in early 2015, indicating the economy is poised to overcome any bumps

Tuesday, 24 February 2015

Laureen Kouassi-Olsson, Investment Director at Amethis Finance


As a former employee of Proparco, like the other Amethis Finance founders, you joined the company in April 2013 as Investment Director. In other words, you are in charge of sniffing out bargains.
Not necessarily sniffing out bargains, but rather setting out Amethis’ strategy in the financial sector in sub-Saharan Africa and to identify attractive investment opportunities there. We have already made three investments in the banking sector. Our strategy really spans across the financial sector and we thus aim at investing in the insurance, brokerage, and financial services sectors. The diversified range of instruments that we can offer, as well as our long-term vision, ensure a certain flexibility in our approach and increase our attractiveness to the players in these sectors. However, we must insure a certain consistency in the constitution of our portfolio and

Singapore – Africa, the ideal fit?


The third Africa – Singapore Business Forum in late August was the most successful of the series both in terms of the number of delegates attending and the depth of the discussions. African Business Editor, Anver Versi was invited to chair one of the sessions. Here is his report.
International Enterprise Singapore (IE Singapore), the organisers of the third Africa – Singapore Business Forum, had expected around 400 delegates to attend the meeting; instead over 650 turned up. This was a very high-level forum involving government ministers and

In conversation: Nathan Kalumbu, Coke’s midfield marshal


African Business editor Anver Versi meets Nathan Kalumbu, President of Coca-Cola Eurasia and Africa Group.
The Coca-Cola Company has a very interesting global organogram. It divides the world into five groups: North America, Europe, Latin America, Asia-Pacific and Eurasia and Africa.
Each group is headed by a president who is responsible for operations throughout the often vast territories. The five presidents report back to the company’s global headquarters in Atlanta. This is where strategic decisions are arrived at, in consultation with the

Africa’s ‘seed of life’ food set to storm US consumers


Fonio, a couscous-like grain eaten in Senegal, Nigeria and other West African countries, and which is said to be the oldest cultivated grain in the world, is coming to America. The grain, which has been popularised by US-based Senegalese chef Pierre Thiam, could replicate the outstanding success of quinoaa and open a brand new export market for African farmers. Report by Leslie Gordon Goffe.
Fonio, the low-calorie, high-protein grain, which was a favourite food of ancient Egyptians and is believed by the Dogon people of Mali to be the seeds from which life on earth itself sprung, will, if all goes as planned, be available for the first time in American supermarkets at

Can Africa handle GM?


One of the biggest concerns raised by critics and enthusiasts for GM alike is that African countries do not have the capacity to “handle” GM. In other words, many African nations lack the robust regulatory environment and infrastructure for wide-scale adoption of GM crops.

“Seed companies are finding that countries lack the necessary regulatory framework to introduce GM,” says Kinyua M’Mbijjewe, the head of corporate affairs in East Africa at the multinational seed company Syngenta.
“There’s no regulatory infrastructure in which GM seeds can be assessed and approved. Without that, companies cannot really invest because they would then

Kordjé Bedoumra, master of modernisation


Kordjé Bedoumra returned to Chad in 2012 after three decades working at the African Development Bank (AfDB), and has now become pivotal to his country’s modernisation efforts. He has held three government positions, first as Minister of Economy, Planning and International Cooperation; then as Secretary General of the Presidency; before becoming Minister of Finance and Budget in October 2013. With this experience, he is now Chad’s candidate for the presidency of the AfDB.
Kordjé Bedoumra, a telecommunications engineer, is 62 years old and a graduate of the École nationale supérieure des télécommunications in Paris. He joined the AfDB in 1983 as a telecommunications analyst, working in various roles before becoming a senior manager of the infrastructure and energy department in 1996. From 2006, he managed the Water and Sanitation Department. He became the Secretary General of the Bank in 2008 and participated in all political decisions and general policy development of the Bank as Vice-Chairman in charge of institutional services, where he

As states tighten belts, Brazil edges closer to recession

Rio's iconic Maracana Stadium lit at dusk behind a shanytown.
Getty Images
Rio's iconic Maracana Stadium lit at dusk behind a shanytown.
Brazilian states and cities are scrambling to raise taxes and cut spending after years of excesses, nudging an already weak national economy closer to recession.
Growing budget deficits, the biggest in more than a decade, have prompted some states to temporarily suspend payments to suppliers and freeze billions of reais in services and infrastructure projects, from road maintenance to healthcare facilities.
The measures rippling through rich and poor, big and small states mirror President Dilma Rousseff's own efforts to regain credibility with investors at the

Grexit could open door for Russia, China: Marc Faber

The debt problems in Greece have been postponed, not solved, with Friday's deal to extend by four months rescue loans to Athens in exchange for fiscal reforms there, closely followed contrarian Marc Faber told CNBC on Monday.
"The [Greek] economy is not strong enough to support" the debt load, Faber said in a CNBC "Squawk Box" interview.
Read MoreGermany got much more than Greece: El-Erian
The publisher of the Gloom, Boom & Doom Report said the real concern of a possible Greek exit from the euro single currency could be "a closer relationship with between Greece and Russia, or Greece and China."
"That's [what] Western allies want to prevent at all costs," he added.
Greece plans to present its reform plans Monday to

Hopes for a new, more open India aren't dead yet









India traders at the Motilal Oswal Financial Services Ltd. office in Mumbai, India.
Vivek Prakash | Bloomberg | Getty Images
India traders at the Motilal Oswal Financial Services Ltd. office in Mumbai, India.
A recent shock defeat by India's leading, reform-minded party may make some investors nervous, but experts say it's unlikely to derail liberalization of the Indian economy—and the country's real challenges lie elsewhere, anyway.


An employee hammers a metal ring an Ishwar Engineering factory in Mumbai, India.
Dhiraj Singh | Bloomberg | Getty Images
An employee hammers a metal ring an Ishwar Engineering factory in Mumbai, India.
Since the election of Narendra Modi as prime minister in May 2014, Indian stock market investors have cheered Modi's relatively liberal economic policies, pushing the benchmark BSE Sensex up 30 percent since the election and 5.4 percent so far this year.
That optimism blanched a bit this month, when Modi's party was thrashed in state elections in Delhi by Arvind Kejriwal and his upstart AAP party, raising

European shale dream is dying before it started









Oil and gas giant Chevron is giving up on its shale gas plans for Romania, marking the end of its European efforts for the resource. And it's not alone in scrapping European plans.
The California-based company said that the fracking project does not make economic sense at this time, so it is relinquishing its concessions in the country. Less than a month earlier, Chevron pulled out of shale gas exploration in Poland, citing similar reasoning.
Employees during a press visit to the first shale gas exploring site started by Chevron in Pungesti, Romania, April 2014.
Mircea Restea | AFP | Getty Images
Employees during a press visit to the first shale gas exploring site started by Chevron in Pungesti, Romania, April 2014.
"Chevron intends to pursue relinquishment of its interest in these (Romanian) concessions in 2015," the company's Kent Robertson said in an email to Reuters. "This is a business decision which is a result of Chevron's overall assessment that this project in Romania does not currently compete (favorably) with other investment opportunities in our global portfolio."
Chevron wholly owned and operated the 1.6 million-acre Barlad Shale concession in northeast Romania, and three concessions covering 670,000 acres in the country's southeast, according to the company's website.
Read MoreFracking for shale gas hits a raw nerve in Europe

The development marks a major blow for the European shale industry. Many European officials have designated energy development as a top priority, but popular backlash and a series of disappointing exploration results have stunted these hopes.
In fact, Romanian Prime Minister Victor Ponta indicated last year that oil companies could be on something of a fool's errand in his country.
<p>The new shale frontier?</p> <p>As top U.S. officials head to Saudi Arabia, CNBC's Hadley Gamble reports on Saudi Aramco and whether Saudi Arabia will be the "new frontier in shale production." </p>
"It looks like we don't have shale gas, we

BHP Billiton half-year profit slides, ahead of forecast


Global miner BHP Billiton posted a 31 percent drop in half-year profit as prices for all its main products collapsed, but beat market forecasts and flagged further belt tightening to withstand the tough conditions.
Trucks at an iron ore mine The company cut its target for capital spending for the year to June 2015 and said it would reap savings of $4 billion in the next two years, shoring up cash flows so it could stick to its policy of not cutting dividends.
"We are confident that we can maintain our progressive dividend policy and continue to selectively invest in projects that offer compelling returns," Chief Executive Andrew Mackenzie said in a statement.
Underlying attributable profit fell to $5.35 billion for the six months to December from $7.76 billion a year earlier, ahead of analysts' forecasts for around $5.1 billion.
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Trucks at an iron ore mine
The world's biggest miner raised its interim