Category: INTERNATIONAL
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Wal-Mart to invest $50 million in China online grocer New Dada
Wal-Mart Stores Inc will invest $50 million in Chinese online grocery and delivery firm New Dada, the U.S. retailer said on Friday, extending its tie-ups with local online players to help boost sales in the world’s second-largest economy. Wal-Mart shifted its China strategy earlier this year when it sold its own online platform Yihaodian in…
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Oil prices stable as strong dollar weighs, but market tightens
Oil prices were stable on Friday, weighed by a stronger dollar, but supported by signs that physical fuel markets were tightening after two years of ballooning oversupply. The dollar rose to its highest level since March against a basket of other leading currencies .DXY on Friday, potentially crimping demand as fuel becomes more expensive for…
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Tesla says it will roll out Uber-style ride services program
Tesla Motors Inc (TSLA.O) is planning to roll out a ride services program and will announce details next year, the luxury electric vehicle maker said on its website, a service first outlined by Chief Executive Elon Musk in his master plan in July. News of the Tesla Network was in a disclaimer about the self-driving…
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BAT offers to buy U.S. tobacco firm Reynolds in $47 billion deal
British American Tobacco (BATS.L) has offered to buy U.S. tobacco company Reynolds American Inc (RAI.N) in a $47 billion deal that would bring together Newport, Kent and Pall Mall cigarettes in the world’s biggest listed tobacco company. The British group, which has a 42 percent stake in Reynolds, said its offer valued the company’s shares…
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Dollar hits seven-month high, stocks set for weekly rise
Global stocks were set for their first weekly gain in four weeks on Friday and the dollar rose to its highest since March, as the euro came under pressure after the European Central Bank shot down talk of tapering its easy money stance. The euro hit its lowest since March after the ECB left its…
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Nigeria: Air Crashes Imminent in Nigeria, Senate Warns
The Senate on Thursday warned of imminent plane crashes in the country if the aviation industry was not fixed immediately. The alert followed a motion tagged “Disturbing Development in the Nigerian Aviation Industry” by Dino Melaye. Contributing to the motion, the Minority Leader, Godswill Akpabio, said the fear of plane crashes was real as airlines…
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Rwanda: Moroccans to Venture Into Rwanda Agriculture Sector
Rwanda and the Kingdom of Morocco, yesterday, signed bilateral pacts that could turn around Rwanda’s agriculture sector in terms of productivity and cutting cost of operation. The agreements were signed in the presence of King Mohammed VI of Morocco and President Paul Kagame at Marriott Hotel, as part of the former’s visit to Rwanda. Geraldine…
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Sh1.8bn rotten maize stocks deepen Kenya’s food crisis
More than 754,000 bags of maize held in the national Strategic Grain Reserve is unfit for human consumption, deepening the food security crisis as the country grapples with a severe drought that has left more than 1.3 million facing starvation. Auditor-General Edward Ouko says in a newly released report that the maize stock, valued at…
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S.A’s Telkom states its position on Integrated ICT Policy White Paper
Telkom has welcomed the publication of the Integrated Information and Communication Technology Policy White Paper noting in particular the policy’s attempt to balance universal access with the need to innovate and grow the industry. Speaking at a technology conference today, Chief Commercial Officer, Dr Brian Armstrong set out Telkom’s high-level observations on the positive and…
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MTN shares hit by report of higher Nigeria money transfers
The amount of money which South Africa’s MTN Group is alleged to have illegally moved out of Nigeria could be “outrageously higher” than an originally estimated $14 billion, Bloomberg reported on Thursday, sending its shares to more than six-year lows. MTN officials, Nigeria’s trade minister and four lenders are to appear at a hearing in…