Category: INTERNATIONAL
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Pokemon Go creator wants more tie ups like McDonald’s Japan
The creator of mobile gaming phenomenon Pokemon Go is exploring more sponsorships by companies that want to attract character-hunting players to their businesses, the chief executive of developer Niantic Labs said on Tuesday. Niantic is talking with several companies interested in partnerships similar to the deal that turned nearly 3,000 McDonald’s restaurants in Japan (2702.T)…
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Delta’s refinery sacrifices profits for lower fuel cost – memo
Delta Air Lines Inc (DAL.N) is flooding the New York market with jet fuel from its refinery, sacrificing refining profits in order to lower the carrier’s fuel costs, according to a company memo seen by Reuters. The memo, written by the head of Delta’s Monroe Energy subsidiary, says the refinery will act against its own…
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European bank rebound not enough to save world stocks from further losses
World stocks fell for a third straight day on Wednesday, depressed by growing nervousness surrounding central bank policy and the recent spike in world bond yields, although European bank shares rebounded after two major earnings reports. Japanese stocks led the way, pushed down nearly 2 percent by the recent surge in Japanese government bond yields…
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South Africa:Private sector activity shows mild improvement
Activity in South Africa’s private sector improved slightly last month but overall business conditions remained subdued despite an uptick in employment and inventories, a survey showed on Tuesday. Standard Bank’s Purchasing Managers’ Index (PMI) inched up to 49.9 in July from 49.6 in June. “A main drag to July’s PMI was the decline in new orders, which…
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Nigeria:”Be patient” with aviation delays says transport minister
Nigeria’s Minister of Transportation is appealing to aviation passengers to “be patient” with the industry and reckons that the persistent delayed flights would be soon resolved. Minister Rotimi Amaech told CNBC Africa that investment is driven by the economy of a country and since it has done the necessary safety checks, it is open for…
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Kenya:Business owners have no confidence in IEBC talks
A majority of executives and business owners have no confidence in the ongoing talks to resolve the dispute over the electoral commission, warning that the stalemate is hurting private sector growth. A survey conducted for the Kenya Private Sector Alliance (Kepsa) revealed that only 39 per cent of the respondents were confident that the stalemate…
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Kenya seeks UN help to secure oil, gas riches beneath its sea bed
The government is seeking the United Nations’ (UN) authority and expertise to map out Kenya’s territorial waters to enable the country exploit huge oil, natural gas and mineral reserves believed to be underneath the Indian Ocean sea bed. Attorney-General Githu Muigai on Monday told the New York-based United Nation’s Commission on the Limits of Continental…
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Rwanda: Foodstuff Prices Continue Upward Trend in City Markets
Prices of some foodstuff have continued to go up in most markets around Kigali, according to a mini-survey carried out by Business Times. Prices of ordinary Irish potatoes have increased to Rwf280 per kilogramme, from Rwf230 a kilo in Kimironko market, while the Kinigi type costs up to Rwf300 per kilo, from Rwf280. The price…
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Uganda picks Nigerian companies for oil exploration licensing round
Uganda has picked three Nigerian companies and one from Australia for its oil exploration licensing round, inviting them to negotiate for production sharing agreements, it said on Monday. It announced its first competitive bidding round for six exploration blocks, covering a total of 3,000 square kilometres (1,150 square miles), in February 2015. Bidding documents were…
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Zimbabwe’s tax collections below target
Zimbabwe’s tax collections were six percent below target in the first half of this year due to a depressed economy, the tax authority said on Monday, adding pressure on a government struggling to pay workers’ salaries. Taxes finance the entire budget in the southern African country because lenders like the International Monetary Fund and World…