THE LOCAL

Trade between Africa and China is shooting up by 19 percent every year, according to official figures released Thursday by Chinese leaders. In the first half of 2017, they totaled more than $85.3 billion in value. Chinese imports from the African continent almost doubled by an estimated 46 percent, compared to the same period a year ago reaching around $38.4 billion. Their exports to Africa rebounded by 3 percent to stand at close to $47 billion. The upward trend in exports from the Asian giant to African countries was driven mainly by the shipbuilding, railway and aeronautics sectors, which rose sharply by 200, 161 and 252 percent respectively. While the Chinese authorities have explained the reasons for the 3 percent increase in exports to Africa, they did not report on the 46 percent increase in imports, which is believed to be the result of a recovery in the prices of certain raw materials, particularly hydrocarbons. China has become Africa’s largest trading partner sinc...

Talks between African and U.S. officials to review the African Growth and Opportunity Act ( AGOA ) free trade deal ended on Thursday with no decision and a feeling on all sides that it has achieved little since it was set up. President Donald Trump’s top trade negotiator Robert E. Lighthizer and other U.S. officials have been in the tiny West African nation of Togo over the past two days to discuss the Clinton-era trade pact with sub-Saharan Africa. Trump’s “America First” campaign has seen him withdraw from the Trans Pacific Partnership, threaten to tear up  NAFTA  and seek to renegotiate the U.S.-South Korea free trade deal. But his administration has said little about Africa, and had not previously mentioned the 2000  AGOA  trade agreement. It is not clear whether the U.S. wants to change the deal before it expires in 2025 or extend it further – no decision was made on either count. AGOA  allows tariff-free access for thousands of goods fro...

Here are a lot of times in my life where I wish I was just a computer and didn’t have feelings. I’d probably be a much better trader. And that’s what this piece is about. We’re all human beings, trading and investing, trying to make money, but these things called  emotions  get in the way. Most trading experts will tell you to get rid of your emotions altogether, to get as close to being a computer as possible. Let’s be realistic—you can’t get rid of your emotions. The best you can do is to try to use them for your advantage. Learn to Control Your Response to Loss and Profit I am probably more emotional than most people. I have a tendency to get really happy or really angry or really sad. I got a stomach flu a few months ago and spent a day at home on the couch, watching 6 hours of  My Cat from Hell  reruns (and crying). I have spent most of the last ten years trying to be as dispassionate as possible—but emotions still sneak out sometimes. So if I ...

As the White House is about to escalate trade frictions along with nuclear risks, global economic prospects will turn more clouded and markets more volatile. Last Friday, President Trump spoke to Chinese President Xi Jinping and told him that he is preparing to order an investigation into Chinese trade practices. On Monday, he called for an investigation into China over U.S. intellectual property (IP) practices and technology transfers. As a result, U.S. Trade Representative Robert Lighthizer, a veteran Reagan administration trade hawk, opened an investigation against China under Section 301 of the Trade Act of 1974. The ordering of the investigation will not immediately impose sanctions but it could lead to steep tariffs on Chinese goods.  The White House is escalating economic tensions at a time when strategic risks loom from North Korea in Asia to Charlottesville in Virginia. Now trade pragmatism is dead and the path has been paved to trade wars. How Washington moved f...

Apple has reportedly been holding secret talks with US health insurer Aetna to bring the firm’s Watch wearable to millions. According to  CNBC , the talks are around the idea of providing the Watch for free or in a discounted form to Aetna customers – a population of over 23 million customers. Held at the end of last week, the talks included top executives from both Apple and Aetna as well as medical information officers from across the US. If a deal materialises, it would come at a good time for Apple which has seen a rise in its shipment figures. According to market research firm Strategy Analytics, Apple’s market share rose from 9% to 13% having shipped 2.8 million units in this year’s Q2. Those figures will likely increase with rumours circulating about a third iteration of the wearable coming soon. According to reports, the Watch Series 3 will be primarily health-focused and feature wireless connectivity. Apple is also developing...