Business Africa

More

  • According to Caterpillar, the largest decline in machinery sales was in Latin America, down 38 percent from a year ago. "The demand environment continues to be weak in Latin America," Lawrence De Maria, an analyst at William Blair said in a research note. Total machinery sales were also down 12 percent in North America, down 7 percent in the Asia Pacific region, and down...

  • BENGHAZI, Libya, July 25- Libyan Petroleum Facilities Guard commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government still needs to sign an agreement for exports to resume. A deal was thrown into doubt when the head of Libya's National Oil Corporation in Tripoli, Mustafa Sanalla, wrote to the U.N.

  • LONDON/ TUNIS, July 24- Libya's hopes to boost crude exports have been dealt a blow after the head of the National Oil Corporation objected to a deal between the government and local guards to reopen key ports. Libya envoy Martin Kobler and a number of oil and diplomatic officials, NOC chairman Mustafa Sanalla said it was a mistake to reward Ibrahim Jathran, head of...

  • July 23- Russian adventurer Fedor Konyukhov has landed safely in a field on a private property in West Australia after setting a world record for circumnavigating the world solo in a hot air balloon. Konyukhov, who embarked on his epic journey from Northam in Western Australia on July 12, set the record of just over 11 days when he passed above the township 100 km...

  • July 23- Russian adventurer Fedor Konyukhov has set a world record for circumnavigating the globe solo in a hot air balloon in a time of just over 11 days, Australian national broadcaster the ABC reported. Konyukhov, 64, who embarked on his epic journey from Northam in Western Australia on July 12, beat the previous record of 13-1/ 2 days set in 2002 by the late Steve...

  • July 23- Russian adventurer Fedor Konyukhov has set a world record for circumnavigating the globe solo in a hot air balloon in a time of just over 11 days, Australian national broadcaster the ABC reported. Konyukhov, 64, who embarked on his epic journey from Northam in Western Australia on July 12, beat the previous record of 13-1/ 2 days set in 2002 by the late Steve...

  • NAIROBI- Central bank of Kenya monetary policy meeting- 0000 GMT. TUESDAY, JULY 26 JOHANNESBURG- South African Finance Minister Pravin Gordhan speaks at Nedbank group's annual investment summit on "the role of business in securing a more prosperous and inclusive future for all South Africans"- 0700 GMT. ANKARA- Turkey central bank to publish quarterly inflation...

  • NEW YORK— Attacks such as the one in a Munich shopping mall and at a nearby McDonald's Friday may lead mall owners to increase their security or even persuade global brands to focus expansion plans on the U.S. rather than Europe. "There are lots of Starbucks and McDonald's, and they are in public places," said Trevor Wade, global marketing director at Landor, a...

  • JOHANNESBURG, July 22- Kenya's central bank will cut interest rates in November in east Africa's biggest economy as inflation is expected to moderate toward year-end, a Reuters poll found on Friday. "I see this as a pause in monetary policy easing, I don't necessarily see it as the end," said Jibran Qureish, economist at Standard Bank in Nairobi.

  • "The lease terms are awful, you could buy the car for what they are being leased for, or maybe even less," said Greg McBride, chief financial analyst at Bankrate, of Uber's Xchange leasing program. The California Public Utilities Commission is probing whether some of these leasing and renting arrangements run afoul of its requirement that ride share drivers use a "...

  • *Nigeria likely to raise rates to 13.00 pct on Tuesday. JOHANNESBURG, July 22- Nigeria's central bank is likely to raise interest rates on Tuesday in an attempt to curb soaring inflation and attract foreign capital, but it runs the risk of triggering a recession, a Reuters poll showed on Friday. Even so, the median forecast from a Reuters poll of 13 analysts taken July...

  • Spain, Germany and Italy perform strongly, UK lags. LONDON, July 22- Spain, Germany and Italy helped Vodafone to produce stronger than expected first-quarter sales growth despite a drag from European Union roaming charge cuts and a weak home market. Chief Executive Vittorio Colao said the group was making good progress in Europe, led by Germany, Spain and Italy.

  • PUTRAJAYA, Malaysia— The more than two-year-long hunt for Malaysia Airlines Flight 370 will be suspended once the current search area in the Indian Ocean has been completely scoured, the three countries conducting the operation announced Friday, possibly ending all hopes of solving aviation's greatest mystery. Some families of the lost plane's 239...

  • BEIJING/ TOKYO, July 22- General Motors Co and Isuzu Motor Co have agreed to cease collaboration on the development of midsize pick-up trucks made in Asia, ending a joint product development relationship that dates back to the mid-2000s. Isuzu, which specialises in light trucks and commercial vehicles, had developed its D-Max pick-up truck under the agreement...

  • LONDON, July 22- Vodafone reported a better-than-expected 2.2 percent rise in first-quarter organic service revenue, marking an eighth consecutive quarterly rise in its main growth measure, aided by a strong performance in Spain and Germany. "In Europe, our growth remains stable despite regulatory pressure on roaming revenue, with good performance in...

  • LONDON, July 22- Vodafone reported a better-than-expected 2.2 percent rise in first-quarter organic service revenue, marking an eighth consecutive quarterly rise in its main growth measure, aided by a strong performance in Spain and Germany. Analysts had predicted a flat result in Europe. Faster growing markets in Africa, Middle East and Asia-Pacific grew by...

  • *WeChat almost unknown in some part of Africa. The move is leading the South Africa- China joint venture down a fiercely competitive path as Facebook's WhatsApp is already part of the social media fabric in most African countries. Africa is not often the scene of battles between tech giants, but the outcome could help determine who can turn the exponential growth...

  • FRIDAY, JULY 22 BEIJING- Chinese Premier Li Keqiang will hold a roundtable with World Bank President Jim Yong Kim, International Monetary Fund Managing Director Christine Lagarde, World Trade Organization Director-General Roberto Azevedo, International Labor Organization Director-General Guy Ryde, Organization for Economic Cooperation and...

  • *Fund to meet over 3rd Ghana review late August. ACCRA, July 21- Ghana's parliament has taken a step towards passing a law on central bank reform that could breach a key tenet of its $918 million aid deal with the International Monetary Fund, parliamentary and finance sources told Reuters. Until 2014, Ghana had one of Africa's fastest-growing economies based on...

  • July 21- Confidence in prospects for the global economy has been dented following Britain's vote to leave the European Union, with a growing view that monetary policy is a fading force and many governments now need to borrow and spend, Reuters polls showed. "Given how fragile the global economy is nearly eight years after the start of the global financial crisis,...