The Electricity Supply Corporation of Malawi (Escom) has lost K660 million for its failure to commission a newly repaired machine at its Nkula Power Station due to payment misunderstanding with its contractors.

Reserve Bank of Malawi (RBM) Deputy Governor for Economics, Naomi Ngwira, says the country needs exports of above US$3 billion if the economy is to be afloat.

Tobacco sales at the country's auction floors have earned US$15 million in foreign exchange in four weeks, Tobacco Control Commission (TCC) has said.

Many women in Phalombe and Mulanje who are doing various businesses have called on banks and other lending institutions to take an interest in penetrating the rural areas and help out in boosting their businesses by offering them loans.

The ongoing fuel availability has partly been attributed to high pricing of the commodity which has halted excessive demand which the country was experiencing 12 months ago.

The International Trade Centre (ITC) has said about 81.5 percent of local exporting and 69.2 percent of importing companies faced burdensome Non Trade Measures (NTM) and other obstacles to trade.

Indebank's summarised audited results for the year ended December 31, 2012 show that it has recorded a net profit of K248.4 million up from K189.4 million registered in 2011, representing a 30 percent increase.

Malawi Stock Exchange (MSE) says issuing of long-term government bonds could help Capital Hill in resource mobilisation other than overemphasising on taxes.

As Finance Minister Ken Lipenga starts hearing from Malawians on what must be incorporated in the 2013/14 National Budget today, delegates at the pre-budget consultation meeting jointly organised by the Economics Association of Malawi (Ecama) and the Malawi Economic Justice Network (Mejn) in Blantyre, on Friday expressed concern over the high levels of fiscal indiscipline in the country.

Farmers Union of Malawi (Fum) has set up an independent investigation on reports that some seed varieties under the 2012/13 Farm in Put Subsidy Programme (Fisp) failed to germinate.

The Common Market for Eastern and Southern Africa (Comesa) which Malawi is a member to will be launching an innovation council, today in Kampala, Uganda.

Malawi's largest commercial bank, National Bank of Malawi (NBM), has expressed pessimism on the prospects of the economy for the calendar year 2013, saying most negative factors in the economy will remain constant throughout the year.

Malawi has welcomed the commitment made by the Brics group of nations that they will support Africa's development agenda, saying the country is ready to strengthen trade ties with countries in the grouping.

The Malawi Energy Regulatory Authority (Mera) has said the blending of petrol and ethanol does not have significance in the prices of fuel in the country.

The pace at which tobacco is flowing to Mzuzu Auction Floors has been described as slow just few days before the market officially opens on Monday April 8.

Malawi and Mozambique are exploring several economic opportunities amid their building up of bilateral relations.

The country's farmers and businesses on Wednesday raised a red flag over the continued rise in interest rates, arguing the development will make both farming and doing business in Malawi extremely difficult.

Indebank on Tuesday launched two new products called Savingsplus Account and Student Savings Account.

The Malawi Congress of Trade Unions (MCTU) and Communications Workers Union of Malawi (Cowuma) have said there is no harm for employees to have multiple jobs as a way of managing the ever increasing cost of living in the country.

Mzuzu Coffee Cooperative Union on Monday announced its venture in tourism with the partial opening of its Mzuzu Coffee Suites situated in the low density Chimaliro location in Mzuzu.