Category: INTERNATIONAL
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Algeria: Four homemade mines, explosives discovered Sunday in Tizi Ouzou
Four homemade mines and explosives were discovered Sunday in Tizi Ouzou by units of the People’s National Army (ANP) following a combing and search operation, announced Sunday the National Defence Ministry in a communiqué. “As part of counterterrorism and following a combing and search operation, an Army detachment under the operational area of Tizi Ouzou…
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Liberia: Coca-Cola Confirms Cummings’ U.S. Citizenship
Coca-Cola former executive and Liberian Presidential hopeful Alexander B. Cummings, Jr. has been listed as a bonafide citizen of the United States, a citizenship which he is yet to officially relinquish with barely six months to presidential and representative elections here. Mr. Cummings, currently standard bearer of the newly formed Alternative National Congress or ANC…
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Rwanda: Local Firms Look to Morocco for New Markets and Business Partnerships
Fifty local private sector members will next month head to Casablanca in Morocco to explore trade and investment opportunities in the north African country. Geoffrey Kamanzi, the Private Sector Federation (PSF) director for trade facilitation and negotiations, said business leaders from the energy, finance, transport and logistics, information and communication technology, construction and real estate…
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Nigeria’s military destroys 13 illegal oil refineries
Nigeria’s military has revealed that it had destroyed 13 illegal refineries in the restive Niger Delta oil hub, in an operation in which two soldiers died in clashes with “sea robbers”. Military authorities say there are hundreds of illegal refineries in the region, which process stolen crude from oil company pipelines. The Nigerian government said…
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S.A:We will do all we can to avoid another downgrade – Gigaba
South Africa’s new finance minister pledged on Thursday to do what he can to keep the country from a third credit downgrade to junk status, saying he would meet ratings firm Moody’s to persuade it he will stay on the path of fiscal discipline. Malusi Gigaba, who replaced the respected Pravin Gordhan in a cabinet…
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Nigeria: NNPC, Customs, Others Shun U.S.$17 Billion Missing Oil Probe
The House of Representatives Ad-hoc Committee on the $17 billion missing from undeclared crude oil and liquefied natural gas exports to global destinations on Tuesday commenced its public hearing into the matter. Declaring the hearing open, the Speaker of the House, Hon. Yakubu Dogara, said incidence of missing oil money had become a recurring decimal…
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Kenya:Two Rivers selling land for Sh5.6bn to pay debt
Two Rivers Development Limited (TRDL), a company partly owned by investment firm Centum, plans to sell several pieces of land for Sh5.6 billion to repay a short-term debt it is seeking to fund its real estate projects. The company, whose other shareholders are Aviation Industry Corp of China (Avic), and the Industrial and Commercial Development…
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Kenya:Chase Bank now sues former bosses for stealing Sh14 billion
Troubled Chase Bank has sued its former chairman and former senior managers seeking to recover billions of shillings they are accused of illegally siphoning from the lender during their more than a decade at the helm. The bank, in a suit filed through its lawyer Philip Murgor, says former chairman Zafrullah Khan, former managing director…
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Uganda: Egypt Extends Shs95 Billion to Control Kasese Floods
The Egyptian government has invested Shs95b in a project aimed at mitigating floods in Kasese District. The five-month project of protection works for flood mitigation in the district is funded by the Egyptian government under the Ministry of Water Resources and Irrigation. Construction works will commence with River Nyamwamba and spread to other rivers in…
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S.A:Africa’s biggest grocery retailer Shoprite looks beyond the continent
Africa’s biggest grocery retailer Shoprite is considering a push into Eastern Europe, where it hopes to use knowledge gleaned from former suitor Steinhoff International, its new CEO told Reuters. The move signals a change in strategy for Shoprite under Chief Executive Pieter Engelbrecht, 47, as sovereign rating downgrades and a weak economy cloud prospects at…