Category: INTERNATIONAL
-
Nigeria: Agip Recorded 2,418 Oil Spills in 7 Years
The Ministry of Petroleum Resources, on Thursday, said 2,418 oil spills were recorded in Nigerian Agip Oil Company’s operations between 2010 and 2016. The Director, Petroleum Resources in the ministry, Mordecai Ladan, made this known at the public hearing on “Despoliation of the Niger Delta and Activities of Nigeria Agip Oil Company” by the House…
-
Tanzania current account deficit narrows 56.6 pct in year to Nov
Tanzania’s current account deficit narrowed 56.6 percent in the year to November, helped by a surge in earnings from tourism and gold exports and a decline in imports, its central bank said on Thursday. The gap narrowed to $1.95 billion in the 12 months to November from $4.49 billion in the same period in 2015,…
-
S.Africa’s Sibanye mulls raising equity cash call to fund Stillwater deal
South Africa’s Sibanye Gold Ltd said it is considering tapping shareholders for up to $1.3 billion to partly fund a $2.2 billion takeover of Stillwater Mining Co, the only U.S. miner of platinum and palladium. Sibanye had initially penciled in a minimum of $750 million in rights issue but said on Friday it reconsidered after…
-
Kenya:Court gives medics’ union officials seven days to resolve impasse
The Employment and Labour Relations Court has given the doctors’ union officials another reprieve after suspending their jail sentence for a further seven days to allow for talks. Justice Hellen Wasilwa delivered the judgement Monday morning following intervention from the Kenya National Commission on Human Rights (KNCHR) and the Central Organisation of Trade Unions (COTU),…
-
Nigeria: People Now Sell Crude Oil in Hotels, NNPC Raises Alarm
The Nigerian National Petroleum Corporation (NNPC) has warned the general public to beware of fraudsters who parade themselves as representatives of the corporation to sell crude oil. NNPC said the activities of these swindlers have become pervasive to the extent that oil and gas transactions are now conducted in “Nicon Hilton” (now Transcorp, a popular…
-
Nigeria: Govt Approves New Tax Policy, to Raise VAT On Luxury Goods
In an effort to shore up the federal government’s revenue base, the Federal Executive Council (FEC) yesterday approved a new tax regime, just as it announced its intention to raise taxes on luxury goods. Also yesterday, the council constituted a task force to device measures to force down the prices of food in the country.…
-
Nigeria: After Paying N150 Billion, Nigerian Govt Still to Pay N660 Billion to Fuel Importers – Official
The Major Oil Marketers Association of Nigeria, MOMAN, on Wednesday said Federal Government had assured of full settlement of all debts owed on importation of petroleum products. The Executive Secretary of MOMAN, Obafemi Olawore, told the News Agency of Nigeria in Lagos on Wednesday that the government had demonstrated positive disposition to defray the N660…
-
Trump’s protectionist policies pose biggest risk to Kenya
US President Donald Trump’s protectionist economic policies pose the biggest risk to Kenya’s economy in the coming year, Central Bank of Kenya governor Patrick Njoroge has said. Dr. Njoroge said the Kenyan economy was facing more serious threats externally than locally, adding that the country would struggle to cover the export hole should the Trump…
-
Political tensions & weak growth major risk to S.Africa rating
Political tensions and weak economic growth in South Africa are the biggest challenge to its sovereign credit rating, Moody’s said on Wednesday. “Political tensions impeded key structural reforms such as comprehensive reforms of state-owned enterprises which are yet to take place and hampered growth, another key credit challenge,” said Moody’s, which rates South Africa two…
-
Another increase in personal income rate for S.A?
The Minister of Finance, Pravin Gordhan, announced in the 2016 Medium Term Budget Policy Statement that the tax revenue is projected to fall short by R23billion. So, how will this deficit be made up? A portion will most likely be collected from the Special Voluntary Disclosure Programme currently in place until August 2017. The new…