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Business Africa

  • LONDON, July 28- Physical crude markets are at last showing signs of tightening as record refinery consumption in the United States coincides with a slowdown in oil exports from the Middle East Gulf. Saudi Arabia and Iraq both tend to export less during the summer because they use more crude domestically to burn in power plants to meet airconditioning demand.

  • ABUJA, July 28- Nigeria's Senate has withdrawn a report that largely exonerated South African mobile phone giant MTN of accusations of illegally repatriating $14 billion and that rebuked the Nigerian central bank for regulatory failures. The report, presented to the Senate on Thursday and reviewed by Reuters, was almost immediately sent back for further...

  • "Our second quarter results reflect the impact of volatile raw material costs and an increasingly challenging competitive environment, particularly in the United States and Europe," Chief Executive Richard Kramer said on Friday. Goodyear, which had hiked tire prices twice this year to counter higher raw material costs, said April tire volumes were "...

  • "Our second quarter results reflect the impact of volatile raw material costs and an increasingly challenging competitive environment, particularly in the United States and Europe," Chief Executive Richard Kramer said. The Akron, Ohio- based company's sales in the Americas slipped 2.9 percent to $2.03 billion, while sales in Europe, the Middle East and Africa...

  • The Akron, Ohio- based company's sales in the Americas slipped 2.9 percent to $2.03 billion, while sales in Europe, the Middle East and Africa fell 11.7 percent to $1.11 billion. The company lowered its forecast for 2017 segment operating income to a range of $1.6 billion to $1.65 billion, from its previous forecast of $2 billion. Net income fell to $147 million, or 58...

  • *FTSE 100 down 0.6 percent. The FTSE 100 fell 0.6 percent, although it outperformed the broader European market. "We have had an awful lot of results and on the whole we have been pleasantly surprised they've not been weaker," Eric Moore, UK Equity Income fund manager at Miton Group, said.

  • *2.5 bln stg loss recorded from Africa sale. *Profit before tax and Africa sale rises 13 pct. LONDON, July 28- Barclays reported a 1.2 billion pound attributable loss for the first half of the year, as it took a 2.5 billion pound hit from the sale of its Africa business.

  • LONDON, July 28- Barclays reported a 1.2 billion pound attributable loss for the first half of the year, as it suffered a loss on the sale of its Africa business. The lender reported a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and a further 1.1 billion pound impairment charge on the sale. Barclays on Friday posted a half-year profit...

  • BEIJING, July 28- China will maintain a crack down on foreign exchange irregularities to ensure stability in the currency market and the broader economy, the country's forex regulator said on Friday, in a sign Beijing will continue to keep a tight leash on capital outflows. And there is little sign Beijing will relax the restrictions despite the yuan's recent...

  • People use their mobile phones in Abidjan, Ivory Coast, on August 31, 2015.

    A match made in business heaven has snaked its way across the African continent.

  • MOSCOW- Central Bank of Russia interest rate decision 1030 GMT. TUESDAY, AUGUST 1 SYDNEY- Reserve Bank of Australia holds monetary policy decision meeting- 0430 GMT. PRAGUE- Czech National Bank holds Monetary Policy Meeting.

  • July 27- Price hikes and strong demand helped Dow Chemical Co beat Wall Street estimates in its last quarter before the chemicals giant merges with DuPont. The $130 billion Dow-DuPont merger is on track to close next month, after which the new company is likely to break up into three independent, publicly traded units. "We had broad-based price bump in the quarter...

  • LAGOS, July 27- Alphabet Inc's Google aims to train 10 million people in Africa in online skills over the next five years in an effort to make them more employable, its chief executive said on Thursday. The U.S. technology giant also hopes to train 100,000 software developers in Nigeria, Kenya and South Africa, a company spokeswoman said. The company is "committing to...

  • CAPE TOWN, July 27- South Africa's top tourist hub Cape Town expects a 13 percent jump in tourist arrivals this year to 1.77 million, officials said on Thursday, a rare bright spot in an economy that slid into recession in March,. Cape Town had the country's four most popular attractions, including Robben Island-- apartheid's most notorious jail where former...

  • *Anglo American sets aside $101 mln. JOHANNESBURG, July 27- Mining companies Gold Fields and Anglo American have set aside over $130 million between them for a possible settlement with miners who contracted lung diseases at work. Anglo American said on Thursday it has set aside $101 million and Gold Fields said it had made a provision of $30.2 million.

  • July 27- Price hikes and strong demand for its products helped Dow Chemical Co beat Wall Street estimates in its last quarter before the chemicals giant merges with DuPont. Sales rose across geographies with a 17.6 percent rise in Europe, Middle East, India and Africa to $4.39 billion. In North America, its biggest market, sales increased 14 percent to $5.27...

  • BERLIN— A Lufthansa Boeing 737 hijacked to Somalia 40 years ago at the height of the leftist Red Army Faction's campaign against West German authorities is coming home to a German museum. The Dornier Museum in Friedrichshafen in southern Germany said Thursday the plane is expected in September, the news agency dpa reported. The aircraft, which has been at...

  • NAIROBI, July 27- Uganda's shilling and Zambia's kwacha are forecast to weaken against the dollar in the next week to Thursday, while Ghana's cedi will firm and the currencies of Kenya, Nigeria and Tanzania are expected to hold steady, traders said. Kenya's shilling is expected to hold steady in the. Commercial banks quoted the currency of Africa's number two...

  • LAUNCESTON, Australia, July 27- The shifting dynamics of the liquefied natural gas industry have been neatly encapsulated by two recent decisions: the scrapping of a major new development and the expansion of an existing large-scale project. Malaysia's state-owned Petronas announced this week it was canceling its $29 billion Pacific Northwest LNG venture...

  • *950 jobs at risk in South Africa, Namibia, Botswana. JOHANNESBURG, July 27- Department store Stuttafords, the 159- year-old "Harrods of South Africa", is closing down, victim of a global shift to online retail and a domestic economic slump that has put brands such as Ted Baker and Gap beyond its customers' reach. However, attempts to revive its fortunes proved futile and...