Global economy projected to grow by 3.1 pc in 2016

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IMF Boss Christine Lagarde
By Mnaku Mbani
Global growth is projected to slow to 3.1 percent in 2016 before recovering to 3.4 percent in 2017. The forecast, revised down by 0.1 percentage point for 2016 and 2017 relative to April, reflects a more subdued outlook for advanced economies following the June U.K. vote in favor of leaving the European Union (Brexit) and weaker-than-expected growth in the United States.

According to the International Monetary Fund World Economic outlook for October says that these developments have put further downward pressure on global interest rates, as monetary policy is now expected to remain accommodative for longer.
Although the market reaction to the Brexit shock was reassuringly orderly, says IMF, the ultimate impact remains very unclear, as the fate of institutional and trade arrangements between the United Kingdom and the European Union is uncertain.
Financial market sentiment toward emerging market economies has improved with expectations of lower interest rates in advanced economies, reduced concern about China’s near-term prospects following policy support to growth, and some firming of commodity prices.
But prospects differ sharply across countries and regions, with emerging Asia in general and India in particular showing robust growth and sub-Saharan Africa experiencing a sharp lowdown.
 In advanced economies, a subdued outlook subject to sizable uncertainty and downside risks may fuel further political discontent, with antiintegration policy platforms gaining more traction.
Several emerging market and developing economies still face daunting policy challenges in adjusting to weaker commodity prices. These worrisome prospects make the need for a broad-based policy response to raise growth and manage vulnerabilities more urgent than ever.

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Tanzania intra-SADC trade decline by 15 pc

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DSE all share index down

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By Mnaku Mbani The Dar es Salaam Stock Exchange (DSE) All Shares Index (DSEI) closed at 2,273.06 yesterday, down by 18.60 per cent when compared with Wednesday. The fall of the DSEI, which calculate the performance of all locally listed and cross listed companies was a result of fall of some share prices including East African Breweries Limited which dropped by 3.39 per cent, KCB Limited by 3.70 per cent and NMG price which fell by 2.14 per cent.
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The beauty queen from Tanzania who is building a furniture empire

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Jacquiline Ntuyabaliwe MFONOBONG NSEHE , Forbes Magazine : Weaving in and out of Dar es Salaam’s grating midday traffic in her chauffeured white Mercedes S550, Jacqueline Ntuyabaliwe, a svelte 38-year-old beauty, is transfixed by an image of a dining set on her phone. With a slim, elegant finger, she prods her cellphone screen to show me the picture she’s looking at. “This is one of our pieces,” she says, pointing to the picture of a 5-piece dining set. It’s one of the items produced by Molocaho by Amorette , the furniture-manufacturing firm she recently founded. “This set was handcrafted from timber which was reclaimed from old cargo boats from the Indian Ocean along Tanzania’s coastline,” says the entrepreneur earnestly.
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