The Malawi kwacha exchange rate to the United States dollar closed the year 2012 at an average price of K346, down from K167 on December 312, 2011, The Daily Times has established.

Commercial banks in the country have said they are set to implement Basel II as they work on raising their capital to meet the Basel accords requirements.

The government and business sector have expressed optimism of increased economic activity in the New Year.

The Electricity Supply Corporation of Malawi (Escom) has completed distribution of 90 percent of free energy saver bulbs under a Malawi government demand management project funded by the Department for International Development (DfID).

Some members of the Rastafarian community have opened a restaurant in Limbe serving vegetarian and other types of meals available in most restaurants in the country.

Finance Minister Ken Lipenga says measures the government has been implementing since May last year to turnaround the economy have started bearing fruits.

The Farmers Union of Malawi (Fum) says government needs to put in place necessary policies for the development of farming in the country to ensure the sector thrives in 2013.

Newly established sugar manufacturing company, Mtalimanja Holdings Limited, is in talks with Citi Bank of London to secure a loan through the Export Development Bank (EDF) to increase the processing capacity at the factory.

Our reporter Taonga Sabola talks to Panashe Maisva, Chibuku Products Limited (CPL) Managing Director to find out more about Malawi Beverages Limited.

The Malawi Stock Exchange (MSE) last week registered a share trading surge with 4.5 million shares transacted, up from the previous week's 1.7 million shares representing a jump of 170 percent.

The Malawi Congress of Trade Unions (MCTU) has described the year 2012 as a nightmare for workers as they were faced with numerous challenges.

The Indigenous Business Association of Malawi (Ibam) has described the year 2012 as the toughest for businesses in the country, saying entrepreneurs and companies faced problems that threatened their survival in the year.

The latest economic report by Reserve Bank of Malawi (RBM) says total tea auction sales and sugar exports during the first 10 months of this ending year generated combined revenue of US$71.7 million.

Malawi is set to use tourism industry in earnest and generate the much sought-after forex for her ailing economy following declaration from several top UK based travel and media institutions that the country will be one of the top ten tourists' destinations in 2013.

Export Development Fund (EDF) is said to have provided a loan guarantee to Sterling Timbers International, a Chikangawa based company in its drive to expand for export market.

The Malawi Confederation of Chambers and Commerce (MCCCI) says the year 2012 has benefited exporters in terms of business following the devaluation and floatation of the kwacha.

Just like 2011, the year 2012 was another set of 365 days to forget in as far as fuel issues are concerned as it was a time when Malawians, both rich and poor, continued to be tortured by fuel.

Presient Joyce Banda says she does not need extra time to recover the ailing local economy as the clock continues ticking.

Communities around Nyezerera Village in Phalombe are relying on 'Kalongonda' as a source of food following escalating prices in maize.

The Malawi Energy Regulatory Authority (Mera) has said hoarding of fuel and illegal vending remains a crime in the country.