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Nigerian Govt Amends Charges in $245 Million Fraud Suit Against Total, Chevron


A Federal High Court on Monday in Lagos granted the Federal Government’s application to amend processes in its suit against Total Nigeria Plc over alleged under-declaration of crude oil exports. The plaintiff, FG, had sued Total Nigeria Plc, alleging that it under-declared the volume of crude oil it shipped out of the country between January 2011 and December 2014. The ...

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Nigeria: Naira Stabilises At N497/$ As Hope of Recovery Imminent


The Naira on Monday stabilised at N497 to a dollar at the open market just as stakeholders expressed hope in its imminent recovery. The Nigerian currency, however, strengthened against the Pounds Sterling, but weakened against the Euro at the open or parallel market as it closed at N595 and N517, respectively; from N597 and N515 posted on Friday. At the ...

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S.A: 12 Month guide to financial stability


This coming year will no doubt be a tough financial year for all South Africans, with economists warning all to tighten their belts. In light of all the challenges that people face, it is essential to take control of one’s finances in 2017 to avoid falling into financial hardship. Below is a month-to-month financial planning guide, to empower yourself financially ...

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Nigeria: NLC Chief Warns Foreign Oil Firms Against Disrespect of Labour Laws


Leading labour leader, Issa Aremu has urged international oil companies (IOCs) operating in Nigeria to ensure decent work conditions for their workers in tune with the nation’s laws. Aremu was speaking yesterday against the backdrop of the recent three-day warning strike called by the National Union of Petroleum and Natural Gas Workers (NUPENG), Natural Gas Senior Staff Association of Nigeria ...

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Nigeria: 50 Companies Bid for NNPC’s Boat Supply Contract


At least 50 companies are scrambling to provide sea worthy tug boats on charter time basis for the maritime operational requirements of the Nigerian National Petroleum Corporation (NNPC) in Lagos, Warri and Port Harcourt. The public bid opening for the contract, which held at the NNPC Headquarters Abuja, had in attendance representatives of the bidding companies with officials of the ...

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Silver lining for S.A agriculture


How the agricultural sector will help tame food inflation in 2017. The current rains are a welcome relief to farmers; they are the proverbial silver lining in what has been a gloomy season. “The past year has been testing for the industry; the drought has had an impact on the economy with South Africa’s gross domestic product (GDP) decelerating in ...

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Kenya Railways Dismisses Comparisons Between SGR and Morocco, Ethiopia Projects


Kenya Railways Corporation (KR) has come to the defence of the construction of the Standard Gauge Railway following concerns over the cost compared to other railway projects in the continent. The Corporation Managing Director Atanus Maina says the Standard Gauge Railway (SGR) is built based on the needs of the country which is to primarily ease the moving goods to ...

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Egypt: Medicines Price Increase Comes Into Effect


Health minister Ahmed Emad said the cabinet approved decision to raise prices for 3,000 medicines; as of Thursday. This is the second wave of increasing medicines prices in less than one year. In May 2016, the cabinet decided to raise the medicines prices, less than EGP 30, up to 20%. The increase will reach up to 15% for local medicines ...

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Zimbabwe reverses telecoms price hike after public backlash


Zimbabwe has reversed a decision to impose a drastic increase in mobile phone data charges, which provoked an angry response from customers and critics who accused President Robert Mugabe’s government of trying to curtail the use of social media. Last year activists used the Internet to mobilise the biggest anti-government protests in a decade, bypassing traditional opposition parties as anger ...

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South Africa’s Harmony Gold says strike at mine resolved


South Africa’s Harmony Gold has brought all employees at its Kusasalethu mine to the surface and will restart production after an illegal sit-in of nearly 48 hours, the bullion miner said on Friday. About 1,700 workers at the mine situated 70 km from Johannesburg brought production to a standstill on Wednesday, demanding payment of a special bonus, removal of the ...

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