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Market Vectors Africa Index ETF (AFK)

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  • Mar. 23, 2011, 7:53 AM
    Despite the defections of dozens of legislators from the President's ruling party, the Yemen Parliament votes to endorse Saleh's declaration of a 30 day state of emergency. President Saleh is sticking with his latest commitment to leave office at the end of the year, following elections.
    | 1 Comment
  • Mar. 22, 2011, 5:24 PM
    Concerned about Yemen devolving into another Libya, Saudi Arabia calls for President Saleh's exit. Saudi Arabia considers the possible emergence of al-Qaeda in Yemen as its chief security threat, and wants a quick transition to a new power able to keep the terrorist group in check.
    | 1 Comment
  • Mar. 22, 2011, 4:54 PM
    The Transitional National Council announces the formation of the “Libyan Oil Company as supervisory authority" on oil policy. The Council also designates the Central Bank of Benghazi as the country's monetary authority. No word yet on cutting rates or QE.
    | Comment!
  • Mar. 22, 2011, 4:36 PM
    Gaining another 2.9% today, oil is back near its pre-quake highs of early March. Steve Levine reports that Yemen, a minor producer of crude, may still influence the price because its porous northern border with Saudi Arabia could allow a flood of (armed) refugees into the Kingdom.
    | 1 Comment
  • Mar. 22, 2011, 4:19 PM
    Loyalist forces may have been prevented from entering, but inside Benghazi, a battle between reformers, aggressive youth, and Gaddafi supporters is getting ugly and could derail the revolution from within. Could Gaddafi retake Benghazi without firing a shot?
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  • Mar. 22, 2011, 2:06 PM
    Wary of being bogged down in another war, President Obama plans to quickly hand leadership over Libyan military action to NATO. The AP reports France calling for a special steering committee to oversee the operation ... sounds like a recipe for success.
    | 26 Comments
  • Mar. 22, 2011, 7:33 AM
    Following yesterday's defection of several military commanders, Yemen President Saleh reverses his earlier stance and offers to step down by the end of the year. Warning of the consequences of a coup, Saleh vows not to turn power over to the military.
    | Comment!
  • Mar. 21, 2011, 10:11 AM
    Saying the U.N. resolution resembles "medieval calls for crusades," Vladimir Putin joins China in stepping up rhetoric against the coalition campaign. With such reservations, it's unclear why Russia and China abstained from the resolution vote, instead of using their veto to block it.
    | 9 Comments
  • Mar. 21, 2011, 9:01 AM
    Events moving very quickly now in Yemen, where 3 senior army generals have defected, deploying their tanks into the streets of Sanaa in support of the protesters. Talks get underway for a peaceful way to end the tenure of President Saleh.
    | 1 Comment
  • Mar. 21, 2011, 8:39 AM
    After violently disbursing protesters and launching arrests of opposition group members and sympathizers, the King of Bahrain thanks foreign (mostly Saudi) troops for helping put an end to an "external plot" against the country. Tensions continue to mount, with the Iranian charge d'affaires expelled on Sunday.
    | 1 Comment
  • Mar. 21, 2011, 8:03 AM
    In Dara, Syria, protesters set fire to Baath Party headquarters and other government buildings, and at least one is killed when security forces fire live rounds into crowds. Essentially a police state, Syria was thought to be immune to the sort of unrest spreading through MENA.
    | Comment!
  • Mar. 21, 2011, 7:33 AM
    Coalition forces launch a 2nd wave of air strikes, furthering weakening and isolating Gaddafi's forces near Benghazi. Originally a force behind the idea of strikes, the Arab League becomes critical of their implementation, questioning the need for such heavy bombardment. Oil +1.4% at $103.06.
    | Comment!
  • Mar. 21, 2011, 7:24 AM
    President Saleh of Yemen fires his entire cabinet, likely before many could resign in protest over Friday's attack on protesters that left dozens dead. Opposition group demands grow from just the stepping down of the President to his and his family's prosecution.
    | Comment!
  • Mar. 20, 2011, 12:29 PM
    Allied forces' attack on Libyan targets meets opposition from Arab League chief Amr Moussa, who says the bombardment was not what Arabs envisaged when they supported the U.N.'s no-fly zone. "We want is the protection of civilians and not the bombardment of more civilians," Moussa says.
    | 9 Comments
  • Mar. 19, 2011, 4:46 PM
    U.S. and French warplanes attack Libyan targets, enforcing the U.N.-mandated no-fly zone. Timely analysis: Major Oil Companies' Exposure to Libya
    | 40 Comments
  • Mar. 18, 2011, 3:48 PM
    Misrata residents claim the city continues to be under bombardment, hours after Gaddafi's forces declared a cease-fire. A government spokesman denies the charges. Whatever the truth, coalition forces now own the issue and must deal with it.
    | 1 Comment
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AFK Description
The Africa Index ETF seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors GDP Africa Index (MVAFKTR). The Index provides exposure to publicly traded companies that are headquartered in Africa or that generate the majority of their revenues in Africa. As such, the Fund is subject to the risks of investing in this region.
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