Category: INTERNATIONAL
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Rand firms to third day in a row, stocks flat
South African’s rand firmed for a third consecutive session against the dollar on Tuesday as the greenback slipped while emerging markets lapped up a return of appetite for riskier assets. At 0715 GMT, the rand traded at 14.6615 versus the dollar, 0.5% firmer from Monday’s New York close and near a one-week high. Government bonds…
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Kenya-Henry Rotich eases transfer of bank loans with digital securities register
The cost of transferring loans and mortgages from one bank to another is set to come down under a proposed new law establishing a central depository for loan securities. Treasury secretary Henry Rotich said the new depository for collateral will be modelled on the Central Depository and Settlement Corporation (CDSC) that is used to secure and…
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Algeria: Renewable Energies Likely to Reduce Dependence On Gas in Electricity Generation
Minister of Energy Salah Khebri affirmed Sunday in Djelfa that the generation of electricity from renewable energies is likely to reduce the dependence on gas in the generation of this vital energy. ” In addition to the protection of the environment, supporting clean energy will contribute to the reduction of gas exploitation in the generation…
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S.A- Amcu claims victory at Sibanye Gold over extra R25 by Karl Gernetzky, 11 April 2016, 13:27
THE Association of Mineworkers and Construction Union (Amcu) has agreed to a wage deal with Sibanye Gold, claiming victory for a modest increase on a deal the union says it largely negotiated six months ago. Amcu announced on its website and on social media that its members had agreed on Sunday to an increase of…
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KCB takes pole position in battle to acquire troubled Chase Bank
The Central Bank of Kenya (CBK) Sunday evening moved to calm nerves in the troubled banking sector with the announcement that it was opening a special window to support small banks in distress because of a confidence crisis arising from last week’s sudden closure of Chase Bank. Central Bank of Kenya (CBK) governor Patrick Njoroge…
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Nigeria: No More Chartered Flights for Central Bank Staff – Emefiele
The Governor of Central Bank of Nigeria (CBN) Mr Godwin Emefiele has barred staff of the apex bank from using chartered flights due to the economic situation in the country. The information was contained in a statement issued yesterday and signed by the acting Director, Corporate Communications, Mr Isaac Okorafor. He noted that since last…
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Nigeria considers selling Chinese Panda bonds
Nigeria is considering selling Chinese Panda bonds to help finance the 2016 budget, its finance minister said on Saturday. The OPEC member is also looking to sell Eurobonds, apart from loans from multilateral agencies, Kemi Adeosun told Reuters and the Financial Times in an interview in Lagos. “Initially we were looking simply at the Eurobond…
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Zimbabwe’s banks limit cash withdrawals
Zimbabwe’s banks are limiting withdrawals as an excessive demand for cash has lead to shortages, the central bank chief said on Friday. Zimbabwe ditched its currency in favour of the U.S. dollar after hyper-inflation scaled 500 billion percent in 2008, leaving it unable to print its own money. A shortage of notes surfaced at the…
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Oakbay CEO says Guptas have not left SA
MEMBERS of the Gupta family, who are friends of President Jacob Zuma, have not fled the country following a wave of controversy surrounding their alleged influence over the nation’s leader. “They are not hiding,” Oakbay Investments CEO Nazeem Howa said on Monday in an interview with Bloomberg TV in Johannesburg. “They’ve not fled the country.”…
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Kenya’s first-half coffee earnings fall 9pc to Sh8bn
The value of coffee sold through Kenya’s auction fell 9 per cent to Sh8.5 billion ($85 million) in the half-year to March due to lower volumes and prices, a senior official said on Monday. The east Africa nation sold coffee worth Sh9.3 billion ($93.2 million) in the first-half of the 2014/15 crop season that runs…