Retail Earnings, European Inflation, EIA Inventories
By Geoffrey SmithInvesting.com -- More big U.S. retailers report earnings, fleshing out the messages sent on Tuesday by the retail sales report and Walmart (NYSE: ). Retail earningsA surprisingly strong retail sales report for April on Tuesday, coupled with a surprisingly weak quarterly update from , put a special focus on the barrage of earnings from the retail sector later. Target (NYSE: ) and TJX (NYSE: ) will report before the open, and will all be scanned for corroboration of Walmart’s gloomy predictions. The leap in inflation to 9.0% was widely expected, due to a hike in VAT and regulated household energy bills. Oil pushes higher after drop in API crude stocksCrude oil prices rose again, after a surprisingly strong report from the American Petroleum Institute showing sustained strong oil demand despite record high prices for gasoline and diesel.
Source:The North Africa Journal
May 18, 2022 17:29 UTC
Egypt’s Instabug raises $46m Series B to build expand product capabilities
Egyptian startup Instabug, a mobile monitoring, crash and bug reporting solution for mobile teams, has raised US$46 million in Series B funding to add to its product and build what it says will be the first mobile observability and performance monitoring platform. Founded in 2016, Instabug helps developers better understand the performance of their mobile applications, and its impact on user experience. Its US$46 million Series B round was led by global software investor Insight Partners, with participation from existing investor Accel as well as new investors Forgepoint Capital and Endeavor. With the new funding, Instabug will continue to aggressively execute on its mission of serving engineering teams with performance metrics and issue visibility, and product teams with customer insights and direct user feedback. By adding to its existing proactive issue detection, advanced debugging and alert management capabilities, Instabug says it is building the first mobile observability and performance monitoring platform.
Source:The North Africa Journal
May 18, 2022 16:05 UTC
Japan turns to Morocco for its food security – The North Africa Post
Japan is looking to Morocco to foster its food security in a global context marked by a surge in prices of soil nutrients on the back of the supply disruption created by the Russia-Ukraine conflict. Japanese deputy agriculture minister Takebe Arata told the media during his visit to Rabat that his country is seeking larger imports of fertilizers and phosphates from Morocco as well as citrus products. He said Japan intends to import Moroccan phosphates to feed soil in the next autumn season. Agricultural trade between Morocco and Japan stands at 200 million dirhams annually, showing a surplus in Morocco’s favor with exports at 180 million dirhams made up mainly of coriander, frozen strawberries and algae. Morocco has taken a central stage at global food security efforts as it controls the globe’s largest phosphates reserves.
Source:The North Africa Journal
May 18, 2022 15:25 UTC
Mad Solutions moves into North America distribution, takes stake in D Street Releasing
Cairo-based Arab cinema distribution and marketing company Mad Solutions is extending its footprint into North America after taking an equity stake in New York-based arthouse distributor D Street Releasing. Under the new partnership, MAD Solutions will theatrically release five to seven Arab-language films in the US and Canada annually. D Street Releasing is a division of D Street Media Group, a production, distribution and music publishing company with affiliate operations in the US, Germany, Ecuador, Argentina and South Africa. Breaking stereotypes and prejudices is a key part of our mandate and with the support and resources from MAD Solutions, I believe we can achieve that goal. Cairo-based Mad Solutions has a 15-year track record of distributing and promoting Arab cinema in the Middle East and North Africa.
Source:The North Africa Journal
May 18, 2022 14:34 UTC
George North returns as Wales name squad for South Africa tour
Winger George North has returned to the Wales squad for the first time since a serious knee injury in April last year as coach Wayne Pivac named a 33-player selection on Wednesday for the three-Test tour to South Africa in July. Flanker Dan Lydiate also spent almost 12 months on the sidelines with a knee problem but is back in the squad. "We've had some players come back from injury like George North so that's exciting for the squad," Pivac said in a media release from Welsh Rugby on Wednesday. The squad will continue to be captained by flyhalf Dan Biggar, despite the presence of experienced lock Alun Wyn Jones. Backs: Gareth Davies (Scarlets), Kieran Hardy (Scarlets), Tomos Williams (Cardiff), Gareth Anscombe (Ospreys), Dan Biggar (Northampton Saints), Rhys Patchell (Scarlets), George North (Ospreys), Nick Tompkins (Saracens), Owen Watkin (Ospreys), Johnny Williams (Scarlets), Josh Adams (Cardiff), Alex Cuthbert (Ospreys), Louis Rees-Zammit (Gloucester), Liam Williams (Scarlets).
Source:The North Africa Journal
May 18, 2022 14:22 UTC
Autochek expands into North Africa, acquires Morocco’s KIFAL Auto
Nigerian automotive technology startup Autochek announced today that it has acquired KIFAL Auto, a Moroccan automotive technology startup, to drive its expansion into North Africa. KIFAL Auto was founded by Nizar Abdallaoui Maane, a former BNP Paribas consultant, in 2019, to ease the process of buying and selling cars in Morocco. Get the best African tech newsletters in your inboxMorocco is one of the most developed automotive markets in Africa. Autocheck has presence across West Africa (Nigeria, Ghana, Ivory Coast), East Africa (Kenya and Uganda), and now North Africa (Morocco); partnerships with 1,500 dealers and workshops across these markets; and more than 70 banking partners, including Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank. “I have long been an admirer of the work Autochek has done to enable improved experiences across Africa’s automotive value chain.
Source:The North Africa Journal
May 18, 2022 14:20 UTC
North Korea boasts recovery as WHO worries over missing data
Outside experts believe most of the fevers are from COVID-19 but North Korea lacks tests to confirm so many. World Health Organization Director-General Tedros Adhanom Ghebreyesus said Tuesday that North Korea has not responded to its request for more data about its outbreak. Before acknowledging COVID-19 infections for the first time last week, North Korea had held to a widely doubted claim of keeping out the virus. South Korea’s government said it couldn’t confirm media reports that North Korea flew multiple planes to bring back emergency supplies from China on Tuesday. U.S. and South Korean officials also believe North Korea could conduct its seventh nuclear test explosion this month.
Source:The North Africa Journal
May 18, 2022 14:12 UTC
Organizations and individuals honored from across North Central Washington
CountryUnited States of America US Virgin Islands United States Minor Outlying Islands Canada Mexico, United Mexican States Bahamas, Commonwealth of the Cuba, Republic of Dominican Republic Haiti, Republic of Jamaica Afghanistan Albania, People's Socialist Republic of Algeria, People's Democratic Republic of American Samoa Andorra, Principality of Angola, Republic of Anguilla Antarctica (the territory South of 60 deg S) Antigua and Barbuda Argentina, Argentine Republic Armenia Aruba Australia, Commonwealth of Austria, Republic of Azerbaijan, Republic of Bahrain, Kingdom of Bangladesh, People's Republic of Barbados Belarus Belgium, Kingdom of Belize Benin, People's Republic of Bermuda Bhutan, Kingdom of Bolivia, Republic of Bosnia and Herzegovina Botswana, Republic of Bouvet Island (Bouvetoya) Brazil, Federative Republic of British Indian Ocean Territory (Chagos Archipelago) British Virgin Islands Brunei Darussalam Bulgaria, People's Republic of Burkina Faso Burundi, Republic of Cambodia, Kingdom of Cameroon, United Republic of Cape Verde, Republic of Cayman Islands Central African Republic Chad, Republic of Chile, Republic of China, People's Republic of Christmas Island Cocos (Keeling) Islands Colombia, Republic of Comoros, Union of the Congo, Democratic Republic of Congo, People's Republic of Cook Islands Costa Rica, Republic of Cote D'Ivoire, Ivory Coast, Republic of the Cyprus, Republic of Czech Republic Denmark, Kingdom of Djibouti, Republic of Dominica, Commonwealth of Ecuador, Republic of Egypt, Arab Republic of El Salvador, Republic of Equatorial Guinea, Republic of Eritrea Estonia Ethiopia Faeroe Islands Falkland Islands (Malvinas) Fiji, Republic of the Fiji Islands Finland, Republic of France, French Republic French Guiana French Polynesia French Southern Territories Gabon, Gabonese Republic Gambia, Republic of the Georgia Germany Ghana, Republic of Gibraltar Greece, Hellenic Republic Greenland Grenada Guadaloupe Guam Guatemala, Republic of Guinea, Revolutionary People's Rep'c of Guinea-Bissau, Republic of Guyana, Republic of Heard and McDonald Islands Holy See (Vatican City State) Honduras, Republic of Hong Kong, Special Administrative Region of China Hrvatska (Croatia) Hungary, Hungarian People's Republic Iceland, Republic of India, Republic of Indonesia, Republic of Iran, Islamic Republic of Iraq, Republic of Ireland Israel, State of Italy, Italian Republic Japan Jordan, Hashemite Kingdom of Kazakhstan, Republic of Kenya, Republic of Kiribati, Republic of Korea, Democratic People's Republic of Korea, Republic of Kuwait, State of Kyrgyz Republic Lao People's Democratic Republic Latvia Lebanon, Lebanese Republic Lesotho, Kingdom of Liberia, Republic of Libyan Arab Jamahiriya Liechtenstein, Principality of Lithuania Luxembourg, Grand Duchy of Macao, Special Administrative Region of China Macedonia, the former Yugoslav Republic of Madagascar, Republic of Malawi, Republic of Malaysia Maldives, Republic of Mali, Republic of Malta, Republic of Marshall Islands Martinique Mauritania, Islamic Republic of Mauritius Mayotte Micronesia, Federated States of Moldova, Republic of Monaco, Principality of Mongolia, Mongolian People's Republic Montserrat Morocco, Kingdom of Mozambique, People's Republic of Myanmar Namibia Nauru, Republic of Nepal, Kingdom of Netherlands Antilles Netherlands, Kingdom of the New Caledonia New Zealand Nicaragua, Republic of Niger, Republic of the Nigeria, Federal Republic of Niue, Republic of Norfolk Island Northern Mariana Islands Norway, Kingdom of Oman, Sultanate of Pakistan, Islamic Republic of Palau Palestinian Territory, Occupied Panama, Republic of Papua New Guinea Paraguay, Republic of Peru, Republic of Philippines, Republic of the Pitcairn Island Poland, Polish People's Republic Portugal, Portuguese Republic Puerto Rico Qatar, State of Reunion Romania, Socialist Republic of Russian Federation Rwanda, Rwandese Republic Samoa, Independent State of San Marino, Republic of Sao Tome and Principe, Democratic Republic of Saudi Arabia, Kingdom of Senegal, Republic of Serbia and Montenegro Seychelles, Republic of Sierra Leone, Republic of Singapore, Republic of Slovakia (Slovak Republic) Slovenia Solomon Islands Somalia, Somali Republic South Africa, Republic of South Georgia and the South Sandwich Islands Spain, Spanish State Sri Lanka, Democratic Socialist Republic of St. Helena St. Kitts and Nevis St. Lucia St. Pierre and Miquelon St. Vincent and the Grenadines Sudan, Democratic Republic of the Suriname, Republic of Svalbard & Jan Mayen Islands Swaziland, Kingdom of Sweden, Kingdom of Switzerland, Swiss Confederation Syrian Arab Republic Taiwan, Province of China Tajikistan Tanzania, United Republic of Thailand, Kingdom of Timor-Leste, Democratic Republic of Togo, Togolese Republic Tokelau (Tokelau Islands) Tonga, Kingdom of Trinidad and Tobago, Republic of Tunisia, Republic of Turkey, Republic of Turkmenistan Turks and Caicos Islands Tuvalu Uganda, Republic of Ukraine United Ara
Source:The North Africa Journal
May 18, 2022 13:56 UTC
Pivac in spotlight as Reffell and North make Wales squad for South Africa
The uncapped Leicester flanker Tommy Reffell has been named in the Wales squad for this summer’s South Africa tour for which George North has been recalled after 14 months out of Test match action because of a serious knee injury. Bridgend-born Reffell, a former Wales Under-20s captain, is rewarded for a succession of outstanding displays during Tigers’ push for the Premiership title this term. Biggar took over leadership duties for this season’s Six Nations while Jones continued his recovery from a long-term shoulder problem. Pivac said: “I spoke to Tommy Reffell before we announced the squad for the Six Nations. Italy’s 22-21 victory – their first in Cardiff – saw Wales fall from Six Nations champions last year to a fifth-place finish.
Source:The North Africa Journal
May 18, 2022 13:20 UTC
Africa: Tz Elected AU Peace and Security Council Member
TANZANIA is among the 15 African countries that have been elected new members of the African Union Peace and Security Council (AU-PSC). "With new members come new perspectives, priorities, and approaches in this Council mandated with the maintenance and promotion of peace, security and stability on the continent," said the envoy. "The council called for predictable, sustainable and adequate financing for the African Union Transition Mission in Somalia (ATMIS), the successor mission to the African Union Mission in Somalia," he said. Moreover, the Council urged the United Nations Security Council to authorize the use of UN assessed contributions to fund ATMIS to preserve the positive gains made by AMISOM. The Peace and Security Council has sanctioned Member States 19 times for unconstitutional changes of government, and four of these suspension measures were taken within the period after June 2021.
Source:The North Africa Journal
May 18, 2022 13:11 UTC
Here are 4 problems Ahmed Idris’ N80 billion loot could have solved for Nigeria.
A Nigerian government official is accused of syphoning N80 billion ($192.65 million) through bogus deals and contracts he allotted to his close family members and relatives. But what can N80 billion ($192.65 million) do in Nigeria? Therefore, N80 billion ($192.65 million) can produce at least three world-class hospitals, possibly in three different states. The agency forecasted the cost to rise to N10.3 billion ($24.8 million) and N13.5 billion ($32.5 million) in 2022 and 2023, respectively. With N80 billion ($18.8 million), the government can set up about 2 to 3 low-cost housing estates to reduce its housing deficit.
Source:The North Africa Journal
May 18, 2022 13:09 UTC
Alba Signs Agreement with Mitsubishi Power & SEPCO III as EPC…
(Alba) "is on course to start the construction works for its fourth additional block in Power Station 5,” as stated by the Chairman of Alba’s Board of Directors, Shaikh Daij Bin Salman Bin Daij Al Khalifa, during the signing ceremony with Mitsubishi Power & SEPCO III consortium on Monday 16 May 2022 at Al Oasis Hall in Alba. (Alba), the world’s largest aluminium smelter ex-China, signed a full turnkey contract today with Mitsubishi Power, a power solution brand of Mitsubishi Heavy Industries, Ltd. (MHI), and SEPCO III consortium to expand Power Station 5 at Alba, adding a new 680.9 megawatts (MW) Combined Cycle Gas Turbine Power Block. Under the terms of the contract, Mitsubishi Power & SEPCO III consortium will be responsible to design, engineer, procure, construct and commission a 680.9 megawatts (MW) Combined Cycle Gas Turbine Power Block. Mitsubishi Power will supply a combined cycle power plant, which comprises of M701JAC gas turbine, an air-cooled version of J-series gas turbines and a steam turbine. Adding further, Shaikh Daij Bin Salman Bin Daij Al Khalifa said:“We are thrilled to add a fourth block into Power Station 5 to bring its power output to more than 2.4 gigawatts (GW).
Source:The North Africa Journal
May 18, 2022 12:51 UTC
Worst drought in decade ravages East Africa
Ethiopia, Kenya and Somalia are the worst affected. This is reminiscent of the 2011 famine that killed more than 260 000 people in Somalia – half of them children under five. Oxfam and Save the Children lamented that more than a decade since the delayed response, the world is once again failing to avert catastrophic hunger in East Africa. Shako Kijala, Save the Children’s regional spokesperson, bemoaned that 5,7 million children were acutely malnourished, including more than 1,7 million severely malnourished. Every minute that passes is a minute too close to starvation and possible death of a child,” Kijala said.
Source:The North Africa Journal
May 18, 2022 12:44 UTC
Rugby-North back as Wales name squad for S Africa tour
Winger George North has returned to the Wales squad for the first time since a serious knee injury in April last year as coach Wayne Pivac named a 33-player selection on Wednesday for the three-match tour to South Africa in July. Flanker Dan Lydiate also spent almost 12 months on the sidelines with a knee problem but is back in the squad. "We’ve had some players come back from injury like George North so that’s exciting for the squad," Pivac said in a media release from Welsh Rugby on Wednesday. The squad will continue to be captained by flyhalf Dan Biggar, despite the presence of experienced lock Alun Wyn Jones. Dan did well in the Six Nations and Al has come back from a pretty big layoff," Pivac said.
Source:The North Africa Journal
May 18, 2022 12:23 UTC
Alun Wyn Jones, Dan Lydiate, George North in Wales squad for South Africa tour; Dan Biggar continues to captain
Dan Biggar will remain as Wales captain for their summer tour of South AfricaWayne Pivac has named Alun Wyn Jones, Dan Lydiate and George North in his Wales squad for their three-Test tour of South Africa, live on Sky Sports, with Dan Biggar remaining as captain. There are also two uncapped players named in the squad as Cardiff back-row James Ratti and Leicester Tigers back-row Tommy Reffell are included. "We've had some players come back from injury like George North so that's exciting for the squad," Pivac said. Wayne Pivac says Wales' three-Test series vs South Africa will be a challengeOn the captaincy Pivac added: "Dan Bigger is named captain. Wales will face South Africa in the first Test at Loftus Versfeld in Pretoria on Saturday 2 July, live on Sky Sports.
Source:The North Africa Journal
May 18, 2022 12:17 UTC