Category: INTERNATIONAL
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Shell says Nigerian pipeline repair “not straightforward” – paper
Royal Dutch Shell does not know when its Nigerian Forcados oil terminal will reopen as the repairs to an underwater pipeline damaged by a blast are not straightforward, its country head was quoted as saying on Sunday. Shell shut the 250,000 barrel a day terminal in February after an attack on an underwater pipeline claimed…
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Egyptair Pilots End Strike After Reaching Agreement With Company – Sources
A strike by EgyptAir pilots, which resulted in the cancellation or delay of 40 flights in the past five days, has ended on Sunday, according to sources in the Egyptian airline. A number of pilots had announced on Wednesday that they were on strike to demand higher pay and improved working conditions. In line with…
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SA falling behind on broadband, says Vodacom
Johannesburg – A lack of readily available radio frequency spectrum is hobbling South Africa’s national broadband hopes, says mobile network Vodacom. South Africa’s government has been slow in implementing its digital broadcast migration project which is targeted at opening frequencies for faster mobile internet services such as 4G. Government only started distributing a few thousand…
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Direct US flights beckon as Parliament clears last hurdle
Kenya has taken yet another step to securing direct flights to the United States with the tabling in Parliament of a Bill that addresses key concerns such as security and the independence of the aviation sector regulator. The Civil Aviation Amendment Bill, sponsored by National Assembly Majority Leader Aden Duale, is expected to help Kenya…
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Nigeria denies report of plan to devalue naira; no request for IMF funds
Nigeria’s central bank denied a report that it planned to devalue the naira, while the International Monetary Fund (IMF) reiterated that Nigeria would benefit from a more flexible exchange rate but said no request for funds had been made. Talk of a devaluation has been rife since Vice President Yemi Osinbajo said on Wednesday the…
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South African miner reports profits after cost savings ahead of target
South Africa-focused platinum producer Lonmin said on Monday its first-half core profit was $36 million, up from a loss of $6 million the same time a year ago following cost savings. Cost savings were well ahead of schedule as 469 million South African rand ($30.26 million) was saved in the first half of the year,…
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South Africa’s central bank probe blames Abil’s collapse on former management
A report into the 2014 collapse of South Africa’s biggest unsecured lender African Bank Investments (Abil) laid the blame squarely on management, saying they negligently chased after growth while lacking banking experience. The central bank launched the investigation shortly after the collapse to determine if the lender, which was rescued in a $1.6 billion bailout,…
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Ethiopia: Community-Based Fish Farming Project Launched
The Japan International Cooperation Agency (JICA) has launched Nutrition-Oriented Community-Based Fish Farming Project aimed at improving dietary diversity in Zway Dugda woreda of Arsi Zone, Oromia State at a cost of 400,000 USD. A human made pond would be created on 3.5 hectares of land in the woreda benefiting over 700,000 residents living in the…
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Mining production could drag SA into a recession
Hopes for positive economic growth in the country this year have been dealt a devastating blow with the release of StatSA’s figure for mining production for the month of March, which saw volumes declining by 18% year-on-year. While the public holidays that occurred late in the month would have contributed to this number, the magnitude…
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Zuma, Mandela heirs lose appeal bid for R1.7 billion mine ruin
A nephew of South African President Jacob Zuma, a grandson of Nelson Mandela and three of their business partners had their case dismissed by the Supreme Court of Appeal Thursday after an earlier ruling held them responsible for the destruction of gold-mining assets near Johannesburg, labor union Solidarity said. Khulubuse Zuma and Zondwa Mandela had…