Business Africa

  • TUNIS, Tunisia— Struggling with extremism and economic woes, Tunisia now faces another menace: persistent drought across several regions that is creating new social tensions and threatening farming, a pillar of the economy. A lack of rain, combined with years of bad resource management, has left reservoirs and dams at exceptionally low levels that could lead to...

  • JOHANNESBURG— Poaching syndicates shipped large amounts of African elephant ivory last year despite global calls to dismantle the trafficking networks that often collude with corrupt officials, conservationists said as an international wildlife conference opened Saturday in South Africa. The plight of elephants dominated the discussion on the first...

  • As if European politicians did not have enough on their plates grappling with Britain's exit from the European Union, Italy will start the countdown towards a high-stakes referendum on constitutional reform. With polls suggesting the vote-- expected in November or December-- could be close, and Prime Minister Matteo Renzi having staked his job on the vote, the...

  • NEW YORK, Sept 23- Oil prices fell sharply on Friday following a report that Saudi Arabia did not expect a deal at talks by major crude exporters next week aimed at freezing output and reining in a global glut, while world stock indexes edged lower. Traders cited a Bloomberg report that Saudi Arabia did not expect a decision at Algiers, where the biggest oil...

  • DUBAI/ LONDON, Sept 23- Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, four sources familiar with the discussions told Reuters, as Riyadh tries to strike an elusive OPEC deal to curtail supply and boost prices. OPEC holds an informal meeting next week in Algiers, which non-OPEC Russia will also join.

  • NEW YORK, Sept 23- Oil prices fell about 3 percent on Friday, paring weekly gains, on a report that Saudi Arabia did not expect an agreement at talks next week among major crude exporters aimed at freezing production. Crude futures slumped after Bloomberg reported that Saudi Arabia did not expect a decision at Algiers, the capital of Algeria where the biggest oil...

  • CRUDE DOWN BY MORE THAN $1 A BARREL AFTER BLOOMBERG REPORTS SAUDI ARABIA DOESN'T EXPECT DECISION AT ALGIERS MEETING.

  • Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, sources familiar with the discussions told Reuters as Riyadh seeks an OPEC deal to curtail supply and boost prices. The offer, yet to be accepted or rejected by Tehran, was made this month, the sources told Reuters ahead of three-day talks in Algeria beginning Monday...

  • DUBAI/ LONDON, Sept 23- Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, four sources familiar with the discussions told Reuters as Riyadh seeks an OPEC deal to curtail supply and boost prices. OPEC holds an informal meeting next week in Algiers, which non-OPEC Russia will also join. Riyadh is ready to cut output to levels...

  • GENEVA, Sept 23- The view outside the office of the head of the World Health Organization dazzles, stretching across Lake Geneva to Alpine peaks. The view inside is less inspiring: dated furniture and listless pot plants dot the seventh-floor office of Margaret Chan, the WHO's director general. Understated decor suits her style.

  • DAR ES SALAAM, Sept 23- Tanzania has regained full ownership of the country's oldest telecoms operator after buying out a 35 percent stake from India's Bharti Airtel. Like other African countries, mobile phone use has surged in Tanzania over the past decade, helped by cheaper smartphones, with mobile phone subscribers rising by 25 percent in 2015 to 39.8 million,...

  • DUBAI/ LONDON, Sept 22- As far as OPEC decision-making is concerned, Algeria, which plays host to oil ministers next week, has always been the land of surprises. The stars could align for OPEC again next week when its ministers return to Algiers and look ready to curb output for the first time in eight years, according to OPEC officials and sources.

  • ACCRA, Sept 22- The World Bank will provide up to $500 million to Ghana in the form of a partial risk guarantee for use if the country defaults on payments for gas from the Sankofa field, the state oil company said on Thursday. The guarantee is the largest of its kind to be granted by the Bank and provides security to Ghana over gas expected to flow in 2018 from the $7.9...

  • NEW YORK, Sept 22- Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, then crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut. Crude futures gave back some gains after Reuters reported that two days of talks in Vienna among...

  • OPEC and non- OPEC producers are expected to revive a production freeze deal for the first time in eight years when they meet in Algiers on Sept. 26-28 after a similar initiative collapsed in Doha in April because Iran refused to restrict its supplies. Iraq, along with Saudi Arabia, Iran and Russia has increased output to historic highs over the past year to fight...

  • DUBAI/ LONDON, Sept 22- As far as OPEC decision-making is concerned, Algeria, which plays host to oil ministers next week, has always been the land of surprises. The stars could align for OPEC again next week when its ministers return to Algiers and look ready to curb output for the first time in eight years, according to OPEC officials and sources.

  • CAIRO, Sept 22- Egypt said it will consider auctioning its fourth-generation licenses on the international market after all three of the country's existing mobile phone operators turned down an offer to acquire them. Egypt, one of Africa's largest markets, is selling four 4 G licenses as part of a long-awaited plan to reform the telecoms sector and raise...

  • CAIRO, Sept 22- Egypt said it will consider auctioning its fourth-generation licences on the international market after all three of the country's existing mobile phone operators turned down an offer to acquire them. Egypt, one of Africa's largest markets, is selling four 4 G licences as part of a long-awaited plan to reform the telecoms sector and raise...

  • ABUJA, Sept 22- Nigeria has hunted down 700,000 firms that have never paid taxes as the country seeks new revenue sources to offset low oil prices that have pushed Africa's biggest economy into its first recession in more than 20 years, its tax chief said. The OPEC member slid into recession in the second quarter and militant attacks on oil facilities in its Niger...

  • ADDIS ABABA, Sept 22- South Korea's Kia Motors Corp signed a deal with a local company on Thursday to start assembling cars in Ethiopia and is thinking of similar operations elsewhere in Africa. We are also looking at the prospects of opening similar plants in Algeria and other countries, " Soon Nam Lee, President of Kia's Middle East and Africa headquarters, told...