Business Africa

  • TRIPOLI, Aug 30- A Libyan armed force controlling some of the country's southern oilfields will close two of them down because the government has not paid the funds needed to maintain security operations, a brigade commander said on Tuesday. NOC chairman Mustafa Sanalla said on Monday that delays in the budget from Libya's new government for the state energy...

  • KAMPALA, Uganda— Uganda's government on Tuesday issued eight oil production licenses to two foreign companies, moving the East African country closer to becoming a producer of crude. Representatives of the oil companies and Uganda's government signed agreements in the capital, Kampala. "The granting of these production licenses today is a critical...

  • Yingluck believed that Thailand could unilaterally raise the price of rice to overseas buyers given its status as the world's largest exporter of the grain that is the staple food for about two-thirds of the world's population. All she succeeded in doing was encouraging India to start exporting its massive surplus, as well as delivering market share to...

  • *Minerals, metals, fuels account for 60 pct of Africa exports. *AngloGold says Ghana govt breached obligations over Obuasi. OBUASI, Ghana, Aug 30- Two years after AngloGold Ashanti suspended production at its giant but loss-making gold mine in Obuasi, central Ghana, the boom of underground explosions has resumed.

  • *China August industrial output likely shrank in August. MELBOURNE, Aug 30- London copper dipped to a 10- week low on Tuesday after falling for the last six sessions, as the market waits for U.S. non-farm payrolls data later this week for further clues on the timing of any U.S. rate hike. It's being battered by some quite conflicting data, then you've got the Fed and...

  • Yingluck believed that Thailand could unilaterally raise the price of rice to overseas buyers given its status as the world's largest exporter of the grain that is the staple food for about two-thirds of the world's population. All she succeeded in doing was encouraging India to start exporting its massive surplus, as well as delivering market share to...

  • MELBOURNE, Aug 30- London copper edged up from a nine-week low on Tuesday after falling for the last six sessions in a row, as the market waits on U.S. non-farm payrolls data later this week for further clues on the timing of any U.S. rate hike. It's being battered by some quite conflicting data, then you've got the Fed and expectations around the rate hike starting to...

  • MELBOURNE, Aug 30- London copper rose on Tuesday as risk appetite grew on bets of further easing by the world's central banks after a meeting in Jackson Hole, Wyoming at the weekend, and as London markets reopened after a long holiday break. *Shanghai Futures Exchange copper traded up 0.1 percent at 36,410 yuan a tonne. *Zhongwang USA LLC, backed by Chinese aluminum...

  • *U.S. crude stocks seen up 2nd week; Iraq eyes more exports. Gulf of Mexico oil output down 11.5 on storm precaution. NEW YORK, Aug 29- Oil prices settled down more than 1 percent on Monday, snapping two consecutive days of gains, on renewed concerns about an oil glut, a stronger dollar and expectations that Nigerian rebels will stop hampering that country's crude...

  • *Iraq still set on expanding output, market share. NEW YORK, Aug 29- Oil prices settled down more than 1 percent on Monday, snapping two consecutive days of gains, on caution over galloping Middle East crude output and a firmer dollar boosted by speculation of a U.S. rate hike by year-end. Key Middle East oil producer Iraq, which has exported more crude from its southern...

  • JOHANNESBURG, Aug 29- South Africa's Treasury and state-owned Eskom clashed on Monday over a probe into coal contracts between the power utility and a company linked to the wealthy Gupta family that is accused of holding undue political sway over President Jacob Zuma. The row further scarred relations in a government rocked by a police investigation of...

  • NEW YORK, Aug 29- A senior HSBC Holdings Plc executive pleaded not guilty on Monday to charges that he participated in a fraudulent scheme to front-run a $3.5 billion currency transaction by one of the bank's clients. The plea on wire fraud and conspiracy charges by Mark Johnson, a British citizen who at the time of his arrest last month was HSBC's global head of...

  • NEW YORK, Aug 29- A senior HSBC Holdings Plc executive pleaded not guilty on Monday to charges that he participated in a fraudulent scheme to front-run a $3.5 billion currency transaction by one of the bank's clients. The plea on wire fraud and conspiracy charges by Mark Johnson, a British citizen who at the time of his arrest last month was HSBC's global head of...

  • NEW YORK, Aug 29- A senior HSBC Holdings Plc executive pleaded not guilty on Monday to charges that he participated in a fraudulent scheme to front-run a $3.5 billion currency transaction by one of the bank's clients. The plea on wire fraud and conspiracy charges by Mark Johnson, a British citizen who at the time of his arrest last month was HSBC's global head of...

  • A child walks past a truck carrying rocks from a mine in Lubumbashi, DRC on May 23, 2016.

    "The glamorous shop displays are a stark contrast to the children carrying bags of rocks and miners in narrow manmade tunnels."

  • German Vice Chancellor and Economy and Energy Minister Sigmar Gabriel

    Record numbers of migrants mean that Germany must integrate 300,000 new children into its schools this year, Sigmar Gabriel says.

  • Resource-poor Japan has long been interested in tapping Africa's vast natural resources, even more so since dependence on oil and natural gas imports jumped after the 2011 Fukushima nuclear disaster shut almost all of Japan's nuclear reactors. This is an investment that has faith in Africa's future, an investment for Japan and Africa to grow together, "he told...

  • NAIROBI, Aug 27- Japan's Prime Minister Shinzo Abe told African leaders on Saturday that his country will commit $30 billion in public and private support for infrastructure development on the continent. Resource-poor Japan has long been interested in tapping Africa's vast natural resources, even more so since dependence on oil and natural gas imports...

  • NAIROBI, Aug 27- Japan's Prime Minister Shinzo Abe told African leaders on Saturday that his country will commit $30 billion in public and private support for infrastructure development on the continent. This is an investment that has faith in Africa's future, an investment for Japan and Africa to grow together, "he told a gathering of at least 34 heads of state...

  • BRUSSELS— The world's largest brewer, AB Inbev, expects to cut about 3 percent of its total workforce— equivalent to thousands of jobs— once it completes its huge takeover of its closest rival, SABMiller. The company headquartered in Leuven, Belgium, has about 150,000 workers while the London- based SABMiller claims to have around 70,000.. It expects losses at...