Category: INTERNATIONAL
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Zimbabwe: ZSE Records Lowest Foreign Inflows
The Zimbabwe Stock Exchange recorded its lowest foreign inflows in 2016 since dollarisation because of liquidity challenges which also saw banks delaying the remittance of investment proceeds. Latest statistics from the stock exchange show that shares worth a staggering $140,3 million were sold compared to foreign purchases, which amounted to $60,2 million over the 12…
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Nigeria: Hackers Shift Attention to Whatsapp Users
Indications have emerged that hackers are now stealing people’s bank details by sending files over the messaging service, WhatsApp. Vanguard gathered that the hackers’ strategy is designed in a way that once opened (WhatsApp), the documents can gather sensitive information from users, including online banking details. According to a report, the virus has been disguised…
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Zambia Commences Legal Proceedings Against Mining Firm Over Pollution
Zambia’s environmental regulator said on Tuesday that it has commenced legal proceedings against Konkola Copper Mines (KCM), a unit of London-listed Vedanta Resources, over the pollution of drinking water and the environment in one mining town on the Copperbelt Province. Ireen Chipili, the spokesperson of the Zambia Environmental Management Agency (ZEMA) said legal proceedings have…
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Ahead of key lender meetings, battered Toshiba expects support
Toshiba Corp’s chairman expects lenders to offer support during key meetings over the coming weeks, as the chips-to-construction conglomerate prepares to book a multi-billion dollar hit to its core nuclear arm. Toshiba, still recovering from a $1.3 billion accounting scandal in 2015, shocked investors again last month by announcing cost overruns at a U.S. nuclear…
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Suntory says not considering IPO of U.S. unit
Suntory Holdings is not planning to list its U.S. spirits unit Beam Suntory Inc [BSI.UL] on the New York Stock Exchange, a top executive said on Thursday, denying a Japanese media report. “We are not considering any listing in the U.S.,” Takeshi Niinami, the president of Suntory Holdings told reporters in Tokyo at a gathering…
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Initial Samsung production target is 10 million Galaxy S8 phones
Samsung Electronics Co Ltd (005930.KS) has set an initial production target of 10 million Galaxy S8 smartphones, South Korea’s Electronic Times reported on Thursday, citing unnamed sources. Samsung is counting on the S8 to rejuvenate sales after it scrapped the Galaxy Note 7 smartphones last year in one of the biggest product safety failures in…
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Asian stocks rise for 8th day on PMIs; yuan soars ahead of inauguration
Asian stocks climbed for an eighth consecutive day on Thursday, buoyed by further gains on Wall Street and an overnight bounce in oil prices that bolstered energy and resource shares. Also underpinning the cautious streak of optimism has been a steady stream of upbeat factory and service sector surveys out of the U.S., Europe and…
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Zimbabwe: NSSA Boss Nabbed for $8 M Fraud
FORMER National Social Security Authority (NSSA) general manager, James Mwayiyapo, 59, was Wednesday dragged to court for allegedly misrepresenting the market value of a stand prejudicing the company of $8 million. Mwayiyapo appeared before magistrate Rumbidzai Mugwagwa facing fraud charges, alternatively criminal abuse of office as a public officer. He was released on $300 bail…
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Angola: Over 1000 Tourists Visited Cabinda in 2016
At least 1.396 tourists visited the northern Cabinda province in 2016, said Tuesday in this city, the head of department of hotel and tourism, of the provincial secretary of Commerce, António Baza. The official, who assessed the activities of the sector, highlighted the visit of tourists from three of the five continents. In terms of…
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Algeria: Petroleum Products – Naftal Ambitions to Consolidate Position By 2030
The National Company for the Marketing and Distribution of Petroleum Products (Naftal) on Monday unveiled the main lines of its development plan which extends until 2030 to strengthen its position in the domestic market. Outlined during a meeting attended by its CEO Hocine Rizou, and CEO of its parent company Sonatrach, Amine Mazouzi, Naftal mainly…