Category: INTERNATIONAL
-
South Africa:Gem Diamonds says costs could rise on damaged Lesotho power lines
Gem Diamonds Ltd said it might need to reassess its full-year guidance for operating costs and ore tonnes treated after extreme weather conditions in Lesotho damaged power lines. The company, which mines diamonds from the Letseng mine in Lesotho and the Ghaghoo mine in Botswana, said it did not expect carats recovered to be materially…
-
Robben Island Experience tells the African story better
The official partner for Citi FM’s Robben Island Experience, the South African Airways (SAA), has described the tour as a unique opportunity to tell the African story at a time that the African history is attracting global audience. The Country Manager of South African Airways, Gloria Wilkinson believes patrons of the Robben Island Experience will…
-
Zambia: Glencore lifts suspension of output at copper mine- trade union
Glencore’s Zambian Mopani Copper Mines unit has lifted its suspension of production at an underground mine that followed the death of three miners in an accident, a labour union official said on Saturday. “The suspension of output across all Mopani Copper Mines operations was lifted at midnight after all employees involved in production were briefed…
-
Algeria: Bill On SMEs – Measures to Facilitate Companies’ Creation, Growth
The bill on SMEs, recently adopted by the Council of Ministers, introduces several new measures aiming the emergence of companies’ growth and sustaining it, a senior official with the Ministry of Industry and Mining told APS. First, the bill makes an adaptation of the definition of SMEs by updating thresholds for turnover and balance sheet…
-
Kenya seeks US funds for dual Mombasa Road
Kenya is seeking funds from the United States (US) for the expansion of the busy Mombasa-Nairobi highway into a dual carriageway. The move represents a break with the government’s tradition of raising money for high-profile projects from China. The Kenya National Highways Authority (KeNHA) said it has opened talks with America’s export-import (Exim) bank for…
-
Nigeria: OPEC Predicts Rise in Crude Oil Price Next Month
The Organisation of Petroleum Exporting Countries, OPEC, yesterday said it was confident that the prices of crude oil would rise by next month as against the current low prices at the International market. OPEC’s President, Mohammad Al-Sada, contended that the rise would be as a result of expected higher demand ahead of the winter season…
-
Nigeria: Pensioners Ground Activities in Benin Over Alleged Non-Payment of Arrears
For the second time in one week, pensioners in Edo State have grounded commercial actives at Kings Square and other adjoining streets in protest against the non-payment of their pension arrears ranging from 10 to 42 months. The pensioners, who brandished placards with inscriptions, such as “Edo State retirees of 2013, 2014, 2015 and 2016…
-
Kenya:BAT farmer payments drop by Sh60m as production falls
British American Tobacco (BAT) payments to farmers fell by Sh60 million in 2015 on the back of fewer contracted planters and lower leaf tonnage. BAT says in its 2015 annual report that it paid out Sh1.24 billion, compared to Sh1.3 billion in 2014 even though the quality of the tobacco delivered was higher last year.…
-
Mozambique: Eni reaches deal with Exxon on gas project-sources
Italian oil firm Eni has wrapped up long-running talks to sell a multi-billion dollar stake in its planned Mozambique liquefied natural gas (LNG) development to Exxon Mobil, two sources with knowledge of the matter said. “The deal is done but won’t be announced for several months at Exxon’s request,” one of the sources said. Eni…
-
South Africa’s business confidence rises to 96.0 in July
South Africa’s business confidence index rose to 96.0 points in July from 95.1 in June, lifted by a firmer rand and improvements in export volumes and retails sales, a South African Chamber of Commerce and Industry (SACCI) survey showed on Monday. “South Africa experienced stronger merchandise export trade in June and July 2016, while the…