Malawi Financial Mirror

Malawi MPs approves K630.5bn national budget for 2013/14

2013-06-22T09:44:00.001+02:00

Malawi MPs approves K630.5bn national budget for 2013/14 | Malawi Nyasa Times - Malawi breaking news in Malawi: "

National

Malawi MPs approves K630.5bn national budget for 2013/14
By Nyasa Times Reporter

June 21, 2013 · 4 Comments
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Malawi Parliament on Friday unanimously approved the National Budget to enable the government fund its operations in the financial year of 2013/14.

The lawmakers nodded to the financial plan after passing the remaining three votes as part of the K630.5 billion allocated to"

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2013-06-22T09:36:00.001+02:00

JPAGETITLE: "Malawi trade peformance worsens in 10 yrs

Balance of Payment
Malawi’s trade performance with the rest of the world has worsened over the last decade, with a growing trade deficit averaging minus 14 percent of the country’s wealth between 2003 and 2011, the African Development Bank (AfDB) has bemoane"

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FedEx lands in Malawi | BiztechAfrica Business, Telecom, Technology & IT News Africa

2013-06-22T09:30:00.001+02:00

FedEx lands in Malawi | BiztechAfrica Business, Telecom, Technology & IT News Africa: "FedEx lands in Malawi
BUSINESS

By BiztechAfrica - June 21, 2013, 4:11 p.m.
Image: By BiztechAfrica

By Gregory Gondwe, Blantyre, Malawi

FedEx Corp, a firm that provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services yesterday announced that it has completed the first stage of a strategic acquisition by signing agreements to acquire the businesses operated by its current service provider Supaswift (Pty) Ltd. in Malawi.

"

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2013-06-21T14:12:00.001+02:00

JPAGETITLE: "Tobacco earnings set to beat $300 million target

Munthali (L): Market moving very fast
The Tobacco Control Commission (TCC) has forecast that chances are high that the country will surpass its target on foreign exchange earnings from tobacco in 2013."

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2013 Mw Tobacco Sales Best in 5yrs

2013-06-20T02:13:00.001+02:00

2013 Mw Tobacco Sales Best in 5yrs: "2013 Mw Tobacco Sales Best in 5yrs

PDF | Print |
Written by Daniel Mababa
Tuesday, 18 June 2013 06:16

Malawi's major forex earner: Tobacco

Tobacco-Malawi’s major forex earner has generated 208 million dollars about 70 billion kwacha in 14 weeks since the opening of this year’s season."

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2013-06-19T17:23:00.001+02:00

This graph may partly explain the edginess of Paladin

Prices of Uranium

Malawi's Economy Is Recovering - World Bank

2013-06-19T16:08:00.001+02:00

allAfrica.com: Malawi's Economy Is Recovering - World Bank (Page 1 of 2): "Malawi's Economy Is Recovering - World Bank

Lilongwe — The World Bank says Malawi's economy is recovering with official figures' estimates showing an expected growth of 5.7 percent in agriculture and more than 6 percent growth in manufacturing.

The Bank disclosed this on Tuesday evening when its highly powered delegation of more than 10 officials had audience with President Dr. Joyce Banda at Kamuzu Palace in Lilongwe to present the Bank's overall assessment of the country's economy over the past 12 months. Leader of the delegation, Kundhavi Kadiresan, who is World Bank Country Director for Malawi, Zambia and Zimbabwe but based in Zambia, said the Bank had been following closely Malawi Government's efforts towards economic recovery and that it was pleasing to note that there were positive strides."

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2013-06-17T15:56:00.001+02:00

JPAGETITLE: "Economic growth forecast decreases

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Unemployment is one of the economic indicator of slow growth
Malawi’s gross domestic product (GDP) has been slashed to 4.4 percent down from the January 5.4 percent projection, indicates the latest World Bank report."

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Illovo Malawi share price increasing due to billions of kwacha profit | Malawi Nyasa Times - Malawi breaking news in Malawi

2013-06-17T15:52:00.001+02:00

Illovo Malawi share price increasing due to billions of kwacha profit | Malawi Nyasa Times - Malawi breaking news in Malawi: "

Business

Illovo Malawi share price increasing due to billions of kwacha profit
By Nyasa Times Reporter

June 17, 2013 · 2 Comments
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Illovo share price increased by K5.50 from K179.50 to K185 at the Malawi Stock Exchange (MSE) this week due to what stockbrokers say is high demand of the company’s shares by investors after the K9 billion profit it poste"

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World Bank electricity project stalls for 18 months | Face of Malawi

2013-06-14T22:20:00.001+02:00

World Bank electricity project stalls for 18 months | Face of Malawi: "WORLD BANK ELECTRICITY PROJECT STALLS FOR 18 MONTHS
ON JUN 3, 2013 IN WORLD BANK | COMMENTS OFF
Amid perennial electricity woes plaguing the country, a K33 billion five-year World Bank project that should have helped to ease the problem has stalled for almost 18 months, The Daily Times has learnt.
The delays are attributed to failure by the implementing agencies to meet World Bank’s procurement procedures due to what the Bank says are capacity challenges in the implementing organisations."

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Bank to help accelerate Malawi’s energy-sector reform project

2013-06-14T22:02:00.001+02:00

Malawi: "Bank to help accelerate Malawi’s energy-sector reform project
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By: Marcel Chimwala
14th June 2013
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The World Bank has agreed to help fast-track the implementation of Malawi’s $84.7-million Energy Sector Support Project, which has faced delays."

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Exploration at Malawi rare earths project resumes after court ruling

2013-06-13T17:22:00.001+02:00

malawi: "Exploration at Malawi rare earths project resumes after court ruling
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By: Marcel Chimwala
24th May 2013
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Springstone, a joint venture between Canada’s Gold Canyon Resources and Japan Oil, Gas & Metals National Corporation (Jogmec), has resumed exploration for rare-earth elements (REE) at Mulanje Mountain, in southern Malawi, following a High Court ruling setting aside an injunction to halt the project that was obtained by members of a nearby community."

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Cuamba-Lichinga road in Mozambique due to start being rebuilt in 2014 | Macauhub English

2013-06-13T17:16:00.001+02:00

Cuamba-Lichinga road in Mozambique due to start being rebuilt in 2014 | Macauhub English: "Cuamba-Lichinga road in Mozambique due to start being rebuilt in 2014
MAY 29TH, 2013 NEWS
Reconstruction of the Cuamba-Lichinga road, in Mozambique is due to begin in 2014, as the necessary funds have been secured, government spokesman and deputy Justice minister, Alberto Nkutumula said Tuesday in Maputo"

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Transnet Engineering ships final units of $20m CDN contract

2013-06-13T16:59:00.001+02:00

Transnet Engineering ships final units of $20m CDN contract: "Transnet Engineering ships final units of $20m CDN contract

By: Shirley le Guern
10th June 2013
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The final seven units that make up a $20-million contract to supply rolling stock to Corredor De Desenvolvimento Do Norte (CDN) and Central East African Railways (CEAR), which operate railway concessions in Mozambique and Malawi, left Durban harbour on Saturday."

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Malawi Investment Pledges Soar - MITC

2013-06-12T15:57:00.001+02:00

Malawi Investment Pledges Soar - MITC: "Malawi Investment Pledges Soar - MITC

Malawi has received major investment pledges totaling 250 million dollars about 90 billion kwacha between July last year to April this year.

Malawi Investment and Trade Center Chief Executive officer Clement Kumbemba says most of the investor are already doing studies specifically in areas of mining, tourism, agriculture and energy."

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ILALA BACK ON THE WATER!

2013-06-11T20:11:00.001+02:00

ILALA BACK ON THE WATER!: "

Industry: Marketing
Lake Malawi’s Ilala, fitted with brand new engines, has completed its first circuit of the Lake since its servicing. With an extra boost under the bonnet it’s not only back in business, it’s also operating ahead of schedule!

(TRAVPR.COM) UNITED KINGDOM - June 11th, 2013 - Lake Malawi’s Ilala, fitted with brand new engines, has completed its first circuit of the Lake since its servicing. With an extra boost under the bonnet it’s not only back in business, it’s also operating ahead of schedule"

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Reserve Bank of Malawi cancels Treasury Bills auction | Malawi Nyasa Times - Malawi breaking news in Malawi

2013-06-07T16:56:00.001+02:00

Reserve Bank of Malawi cancels Treasury Bills auction | Malawi Nyasa Times - Malawi breaking news in Malawi: "

Business » Featured

Reserve Bank of Malawi cancels Treasury Bills auction
By Vhangani Phiri, Nyasa Times

June 7, 2013 · 1 Comments
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The money market experienced an unusual occurrence this week as the Reserve Bank of Malawi (RBM) cancelled auction on treasury bills."

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Malawi engages international legal experts in drafting mining deals | Malawi Nyasa Times - Malawi breaking news in Malawi

2013-06-07T16:53:00.001+02:00

Malawi engages international legal experts in drafting mining deals | Malawi Nyasa Times - Malawi breaking news in Malawi: "

Business

Malawi engages international legal experts in drafting mining deals
By Hastings Loka, Nyasa Times

June 7, 2013 · 0 Comments
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The Government of Malawi has engaged foreign legal expertise to assist the Ministry of Mining in the drafting and subsequent negotiations of the niobium project in Kanyika in Mzimba."

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Capital Business » KQ to start direct flights into Blantyre

2013-06-07T16:51:00.001+02:00

Capital Business » KQ to start direct flights into Blantyre: "KQ to start direct flights into Blantyre

Posted by JOSEPH MURAYA on June 4, 2013

Starting August 2, the airline will introduce three flights a week to Blantyre, Malawi’s second largest city that doubles up as its commercial hub/FILE
NAIROBI, Kenya, Jun 4 – National carrier Kenya Airways is set to commence direct flights to Blantyre, making it the airline’s second destination in Malawi after the capital Lilongwe."

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"Sena Corridor to benefit from Japanese Aid

2013-06-06T18:12:00.001+02:00

JPAGETITLE: "Sena Corridor to benefit from Japanese Aid

COM_CONTENT_CATEGORY COM_CONTENT_PUBLISHED_DATE COM_CONTENT_WRITTEN_BY
Japanese Prime Minister Shinzo Abe assured Malawi that Japan will review the proposal on the development of the Sena Corridor to provide financial and technical assistance.

He said this was in response to the request by Malawi President Joyce Banda at a bilateral meeting that was held on Saturday in Yokohama."

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Fuel pump price, sugar and bread go down in Malawi | Newstime Africa

2013-06-06T14:27:00.001+02:00

Fuel pump price, sugar and bread go down in Malawi | Newstime Africa: "Fuel pump price, sugar and bread go down in Malawi
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June 6, 2013 Peter Chipanga Malawi No comments
Motorists and consumers in Malawi can at least afford a smile in the economically hit Southern Africa country following latest announcement of fuel, sugar and bread prices slashing.

The Malawi Energy Regulatory Authority (Mera) has revealed that the cost of fuel has gone down effective on Thursday June 6 2013, two days after news of the reduction of sugar and bread prices was also announced by respective producers.

Mera says Petrol has gone down to K680.80 from K694.30 per litre with Diesel being slashed to K657.40 from K677.20 per litre, a second reduction in the first half of 2013."

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Malawi fuel prices slashed again: Govt calls for price cuts | Malawi Nyasa Times - Malawi breaking news in Malawi

2013-06-06T14:22:00.001+02:00

Malawi fuel prices slashed again: Govt calls for price cuts | Malawi Nyasa Times - Malawi breaking news in Malawi: "Malawi fuel prices slashed again: Govt calls for price cuts
By Green Muheya, Nyasa Times

Fuel prices went down effective on Thursday, Malawi Energy Regulatory Authority (Mera) has announced.

The energy regulatory body said petrol prices is down from K694.30 to K680.80 per litre, diesel from K677.20 to K657.40 per litre. However, paraffin for domestic use remains at at K177 per litre."

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Malawi Signs $600m Energy Pact With China - Ventures Africa

2013-06-06T11:46:00.001+02:00

Malawi Signs $600m Energy Pact With China - Ventures Africa: "Malawi Signs $600m Energy Pact With China

Posted on June 6, 2013 07:20 am under Investing, Investors, Markets

VENTURES AFRICA – Malawi and China have signed two energy deals that would facilitate enhanced generation of electricity power totaling $667.233 million.

The first deal involves a transmission line project that would see Chinese company, TBEA, construct additional and upgrade power transmission lines in the East African country to deal with problems of a saturated power transmission system."

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Three African airlines introduce new flight paths to Malawi | Malawi Nyasa Times - Malawi breaking news in Malawi

2013-06-05T20:48:00.001+02:00

Three African airlines introduce new flight paths to Malawi | Malawi Nyasa Times - Malawi breaking news in Malawi: "Three African airlines introduce new flight paths to Malawi
By Nyasa Times Reporter

June 5, 2013 · 0 Comments

Tourism in Malawi is expected to gain an additional boost as more and more airlines chart new flight paths to the land-locked southern African country. The move increases the possibility of dual country holidays and widens itinerary options in Malawi, making ‘the Warm Heart of Africa’ even more accessible."

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‘Proflight’s Malawi route to boost trade’ | Times of Zambia

2013-06-05T20:45:00.001+02:00

‘Proflight’s Malawi route to boost trade’ | Times of Zambia: "‘Proflight’s Malawi route to boost trade’

BY MAIMBOLWA MULIKELELA -
Zambia’s Acting High Commissioner to Malawi Henry Ngilazi has said the introduction of a direct route to Malawi is a good development for the Zambian economy as it will facilitate smooth trade between the two countries."

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