INTERVIEW-African Development Bank chief to focus on powering Africa *Africa vulnerable to falling commodity prices. *Rising Asian wages may give Africa competitive edge. The lack of reliable power grids is a major obstacle to industrialising the continent's economies at a time when Africa hopes to make a transition from commodities producer to a manufacturing hub and challenge Asia where labour costs are rising.
| By: Joe Bavier
GRAINS-Soybeans fall on stable crop rating, renewed China worries *Corn also eases, wheat steadies after 3- month low. Corn gave up 0.7 percent to $3.72-1/ 2 a bushel and wheat added 0.4 percent at $4.86-3/ 4 a bushel. Share prices in Asia and Europe fell while commodity markets also slid as concerns about China were reignited by surveys showing its manufacturing sector shrinking at the fastest pace in three years and its services...
| By: Gus Trompiz and Naveen Thukral
Still bullish on China Kabir Sehgal, "Coined" author, shares his thoughts on the devaluation of the Chinese yuan.
GLOBAL ECONOMY-China, euro zone weaken despite world awash with cash *China official PMI at 3- year low; Markit reading at 6-1/ 2 yr low. LONDON/ BEIJING, Sept 1- China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer. It came as the People's Bank of China loosened policy for the second...
| By: Jonathan Cable and Winni Zhou
UPDATE 1-China says stock market plunge impact on economy limited BEIJING, Sept 1- China's gyrating stock market is likely to affect businesses, but the impact should be contained as the economy is still a developing one, an official at the country's top economic planner said on Tuesday. Remarking on a near 40 percent plunge in Chinese shares from a peak in mid-June, Ning Jizhe, vice chairman of the National Development and Reform...
Indonesia is better prepared to face global volatility-IMF head JAKARTA, Sept 1- Indonesia has never been more prepared to handle global economic uncertainty, stemming from concerns like China's slowdown and depressed commodity prices, the head of the International Monetary Fund said on Tuesday. "We at the IMF are convinced that Indonesia is better prepared than ever before to face global economic headwinds," IMF Managing...
Changing tastes churn up ice cream industry *Unilever, Nestle challenged by niche, regional brands. ZURICH/ LONDON, Sept 1- Changing tastes and distribution challenges in emerging markets are opening up an ice cream industry long dominated by global food companies such as Unilever and Nestle. That's posing a challenge to Unilever and Nestle, which together control about a third of a global market that...
| By: Brenna Hughes Neghaiwi and Martinne Geller