Reserves dwindle
Foreign exchange reserves have declined in April, says the central bank. Gross foreign currency fell to US$8.257 billion in April from US$8.324 billion in March, the bank said. BoB total assets declined to P56.3 billion in April.

BoBcs matures
The central bank has published auction results for Bank of Botswana Certificates (BoBCs) maturing on the 21st of July 2010. The certificates were subscribed for P3.3 million, at the same allotment of P3.3 million.

Rate maintained
The Bank of Botswana Monetary Policy Committee has maintained Bank Rate at 10% in line with analyst forecast and advises that inflation should be kept in check.

Oil surges
OPEC daily basket price stood at $71.81 a barrel Tuesday, compared with $69.08 the previous day. Oil prices are increasing slightly following news that BP is courting a Libyan oil company to fend off takeover bids.

China sticks to US
China on Wednesday ruled out the “nuclear” option of dumping its vast holdings of U.S. Treasury securities but called on Washington to be a responsible guardian of the dollar.

Merkel’s package
German Chancellor Angela Merkel’s Cabinet approved a four-year package of budget cuts, stepping up pressure on fellow European governments to reduce debt, that risks tearing apart the euro area.

US property sales
U.S. commercial real estate sales in the first half totalled a quarter of the average of the previous six years as owners kept properties off the market, impeding investors with record funds for purchases. Traders completed $34.2 billion of deals through June. [Sources: Bloomberg, Reuters, Yahoo Finance.
Additional reporting by Botswana Guardian]