Category: INTERNATIONAL
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East Africa: Uganda, Tanzania to Hire Adviser On Oil Pipeline Financing
Uganda, Tanzania and French oil company Total E&P, the lead joint venture partner on the proposed crude oil export pipeline are considering getting on board a transactionary adviser to advise them on getting a lead investor and the $3.55b (Shs12.6 trillion) required for financing the project. A concept brief for the project issued by the…
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U.S:Fed’s Rosengren calls for gradual, but faster, interest-rate hikes
Boston Fed President Eric Rosengren on Monday called for the U.S. central bank to step up its pace of interest-rate increases from the once-a-year pattern it has pursued since 2015, warning of inflation risks if it does not. “I expect that appropriate monetary policy will need to normalize more quickly than over the past year,”…
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Nigeria Reclaims Africa’s Top Oil Producer Spot
Nigeria may have reclaimed its position as Africa’s top oil producer which it lost to fellow African oil producer, Angola earlier in March 2016. According to the December 2016 Monthly Oil Market Report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC), crude oil production from Nigeria rose slightly above that of Angola even before…
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South Africa: Cape Town’s Water Usage Up, Despite Calls to Cut Down
Cape Town’s water consumption increased between the last week of 2016 and the first week of 2017, despite calls to use less. The city’s residents used 859 million litres of water per day between January 2 and 8, compared to 835 million litres in the last week of December, the City said in a statement…
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Nigeria: 2017 Budget Will Bring Nigeria Out of Recession – Dogara
Speaker of the House of Representatives, Yakubu Dogara has expressed optimism that the 2017 budget would lead the country out of its current economic recession. Dogara, who said this on Tuesday in his address welcoming members from Christmas holidays also assured that the House will implement reforms to the budget process to make it more…
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Ethiopia: Chefs in Demand, Food Biz Booms
Tirsit Mezemer, the executive chef at Kaleb Hotel, and her associates are running here and there in the spacious kitchen of the four star hotel. “If you have the passion, being a chef is a great profession,” she proudly states. “The executive chef is not only a chief who commands his or her subordinates sitting…
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Wholesale inventories post biggest rise in two years
U.S. wholesale inventories in November rose slightly more than previously reported, posting their largest gain in two years and suggesting inventory investment would again support economic growth in the fourth quarter. The Commerce Department said on Tuesday wholesale inventories rose 1.0 percent after slipping 0.1 percent in October. That was the largest increase since November…
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Angola: Police Seize Eight Vessels in Maritime Exclusion Zone
Police authorities seized eight fishing vessels in a maritime exclusion zone near bloc 4 in Soyo, northern Zaire province, last weekend. The operation, which culminated in the arrest of the respective ship-owners, was triggered by a multisectorial team integrated by Luanda Port authority and by the inspection services of the Ministry of Fisheries. The spokesman…
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European shares steady as Sainsbury’s soars, Cobham tanks
European shares steadied on Tuesday in early deals, with retail stocks back in focus after a well-received update from British grocer Sainsbury, though Cobham tanked. The pan-European STOXX 600 index was flat in percentage terms, as was the blue-chip FTSE 100, which held close to a record high of 7,284.81 points reached in the previous…
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Samsung leader named a suspect in South Korea political probe
A South Korean special prosecutor’s office will question Samsung Group [SAGR.UL] leader Jay Y. Lee as a suspect in the widening influence-peddling scandal that led to a parliamentary vote to impeach President Park Geun-hye. Prosecutors have been looking into whether Samsung payments of about 30 billion won ($25 million) for a business and foundations backed…