Economies Focus- Factors To Watch

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San Diego, California, Nov 16th 2015: The bit coin was invented by Satoshi Nakamoto in 2008 as a digital form of money but no one truly knows who Satoshi Nakamoto is. Transactions are done through peer to peer networks without the need of a bank making it the first decentralized digital currency. This is a close up photo of several gold plated bitcoins together symbolizing the bit coin market, modern technology, finance, internet, trading, etc.

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GLOBAL ECONOMY

Looking into global economy, the quest for cryptocurrencies moved to a new chapter on Monday as bitcoin futures rocketed by one-fifth of their value at a closely-watched launch, while Asian shares climbed amid optimism about global growth. Chicago -Based Option Exchange (CBOE)Global Market INC and Chicago Mercantile  Exchange &Chicago Broad Of Trade(CME) Group INC may open trading this week for greater inflow of Institutional money as bitcoin hit more 1500 per cent of its basic value.

WORLD OIL PRICES

Oil prices fell on Monday as last week’s rise in the U.S. rig count pointed to a further increase in American production that could undermine OPEC-led efforts to tighten markets.

SOUTH AFRICA  ECONOMY

South Africa’s rand strengthened on Friday after a court ruled that President Jacob Zuma’s appointment of a state prosecutor to decide whether to reinstate corruption charges against him was not valid, while shares in Steinhoff SNHJ.J plunged further. South Africa’s High Court ruled on Friday that President Jacob Zuma’s appointment of a state prosecutor to decide whether to reinstate corruption charges against him was not valid and should be set aside immediately.

 KENYA ECONOMY

Kenya’s opposition said on Sunday it had postponed plans to swear in its leader Raila Odinga as an alternative president, easing political tensions and opening a window for possible talks with the government of President Uhuru Kenyatta.

CONGO ECONOMY

The Congolese lower house of parliament has adopted a new mining code that will increase taxes and royalties, two members of parliament and an aide to the speaker said.

 GUINEA ECONOMY

The African Development Bank (ADB) said on Saturday it had approved a $100 million loan to develop a bauxite mine in northwest Guinea, as the West African country works to treble output by 2020.

SUDAN ECONOMY

Sudan has imposed a temporary import ban on selected foods and other items in an effort to protect its currency and narrow its budget deficit after the end of U.S. trade sanctions in October, the government said.

NIGERIA ECONOMY

Nigeria currency just in the concluded week, appreciated week -on-week on all foreign exchange market segment amid sustained intervention by CBN coupled with recent accretion to the foreign exchange reserve with proceed s of the recent $3billion federal government Euro bond issue which increase the country’s public sector foreign as to over $38 billion specifically,the Naira straighten against the dollar at inter bank, market (NIFEX) the I&E FX Window, the bureau de exchange (BDC) and the parallel market segment by 361/$1 and 364/$1.