1.Federal government plans to spend big in 2016 on social welfare programmes:
Federal government plans to spend 500 billion naira ($2.5 billion) in 2016 on social welfare programmes for the poorest people in nation, draft budget plans sent to lawmakers on Tuesday showed.
2.One of the worlds apex mining companies might just be collapsing:
Anglo American Plc, a conglomerate spanning everything from brewing, publishing and gold mining during its peak in the early 1990s, will shrink beyond recognition after Chief Executive Officer Mark Cutifani on Tuesday announced an eye-watering package of asset sales, mine closures and job cuts.
3.The news on Morgan Stanley’s job cuts keeps pour in:
The US bank is cutting 1,200 staff, including about 470 front-office staff in its fixed income and commodities business, according to a person familiar with the matter.
4.South Africa’s Inflation Rate to Increase in November:
South Africa’s inflation rate rose to 4.8 percent in November, the highest since July.
5.China Sets Yuan at Weakest Level Since 2011:
China guided the yuan to its weakest level in more than four years as the country deals with currency outflows and a slowing economy while trying to loosen its grip on the exchange rate.
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6.Kenya’s Tighter monetary policy has stabilized the shilling and anchored inflation:
Tighter monetary policy has stabilized the shilling and anchored inflation in the government’s preferred band between 2.5 and 7.5 percent despite a November spike to the top of the range caused by heavy rains, the central bank governor said on Tuesday.
7.China’s consumer inflation rate edged up in November, while factory gate price falls lingered at a 6-year low as the world’s second-largest economy grapples with slowing growth:
The consumer price index (CPI) — a main gauge of inflation — rose by 1.5% last month from a year ago, the National Bureau of Statistics (NBS) said in a statement.