Market News

 A scale weighing China's outward direct investments across the globe currently tilts heavily toward Asia, at a whopping 70 percent of total volume by 2013, most of which was poured into Hong Kong. Africa, on the other hand, received less than 5 percent of China's total ODI, at $3.37 billion. . . .

 Poised to make sweeping economic reforms at a major development conference in March, Egyptian leaders played up their existing cooperative ties with China during a recent visit to Beijing. At the Egyptian embassy in Beijing early this month, a delegation that included Egypt's ministers of tra . . .

 National Microfinance Bank (NMB) says in its e-Market report that the shilling close on the strong foot against US dollar, the major trading currency, buoyed by end-month local money demand. “The local currency closed the 2014 yearly trading session on a stronger footing against the dol . . .

 The plant, which will have the capacity to produce 157,000 tonnes of steel products each year, is expected to go a long way in providing affordable raw materials for the country’s growing construction industry. Top Steel Kenya Limited is the company behind the plans for setting up the m . . .

 President Paul Kagame and his South Korean counterpart Park Geun-hye yesterday held talks focusing on fostering bilateral relations between the two countries.   The meeting at the South Korean leader’s residence in Busan marked the end of Kagame’s two-day visit to the East Asi . . .