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  • First Quantum said it was unable to provide estimates on how long the power supply reduction would last or its impact on production. The country's power provider ZESCO has contracted independent power producers to procure more electricity by the end of 2015, First Quantum said. First Quantum's Zambian smelter, which ramped up in February, is expected to...

  • LAGOS, July 27- At first glance, Yaba is like many other parts of Nigeria's sprawling commercial capital: a cacophony of car horns and shouting street vendors, mingling with exhaust fumes and the occasional stench of sewage. But in between the run-down buildings in this seemingly inauspicious part of Lagos, a city of around 21 million, tech start-ups are taking...

  • JOHANNESBURG, July 27- From milk churning in Zimbabwe to rose growing in Ethiopia, private equity investments in Africa have returned to pre-crisis levels and should keep rising as funds seek bumper returns in far-flung markets. Private equity deals in Africa totalled $8.1 billion last year, the second highest on record after the $8.3 billion posted in 2007,...

  • ATHENS, Greece— At its height eight years ago, George Kranitis' family-owned shipyard in Patra, Greece's third-largest city, employed some 35 people and sold around 340 boats annually. "We're being destroyed," said Kranitis who also heads the Greek Boat Builders' Association. With a coastline that's 10,720 miles in length, which according to the Greek Boat Builders'...

  • MUMBAI, July 27- Facebook Inc plans to scale up its service to offer free basic Internet on mobile phones, an executive said, after introducing the application in 17 developing countries over the past year. Facebook developed the platform with six technology partners to bring an estimated 4.5 billion unconnected people online, mainly in Latin America, Asia and...

  • Obama, Kenya leader agree on terror, split on gays Saturday, 25 Jul 2015 | 5:05 PM ET
    President Barack Obama comments on the Supreme Court ruling on the constitutionality of same-sex marriage in the Rose Garden at the White House in Washington June 26, 2015.

    In his first visit as president to Kenya, President Obama struck a relentlessly upbeat tone, but found himself at odds as well.

  • 'Landmark' trade deal on slashing tech tariffs agreed Friday, 24 Jul 2015 | 11:29 AM ET

    The Geneva- based World Trade Organization said 49 of its members— including the United States, China and the European Union— reached a tentative accord to expand the 1996 Information Technology Agreement following three years of talks. Taiwan, a big producer of electronics, has faced considerable domestic pressure not to join. Along with four other countries—...

  • *EU regulators back GSK's Mosquirix for babies in Africa. LONDON, July 24- The world's first malaria vaccine got a green light on Friday from European drugs regulators who recommended it as safe and effective to use in babies in Africa at risk of the mosquito-borne disease. Mosquirix, also known as RTS, S and part-funded by the Bill& Melinda Gates Foundation, will now...

  • They think of him as Kenyan-American, "said EJ Hogendoorn, deputy program director for Africa at the International Crisis Group. Obama's link to Kenya is a father he barely knew, but whose influence can nonetheless be seen in his son's presidency. A White House initiative to support young men of color who face similar circumstances has become a project dear to...

  • LONDON, July 24- The world's first malaria vaccine got a green light on Friday from European drugs regulators who recommended it should be licensed for use in babies in Africa at risk of the mosquito-borne disease. Recommendations for a drug licence made by the European Medicines Agency are normally endorsed by the European Commission within a couple of...

  • *Vaccine developed by GlaxoSmithKline for babies in Africa. LONDON, July 24- The world's first malaria vaccine got a green light on Friday from European drugs regulators who recommended it should be licensed for use in babies in Africa at risk of the mosquito-borne disease. The shot, called RTS, S or Mosquirix and developed by British drugmaker GlaxoSmithKline...

  • WASHINGTON— Dozens of countries have agreed to abolish duties on more than 200 technology products— from advanced computer chips to GPS devices, printer cartridges and video-game consoles. The agreement announced Friday marks the World Trade Organization's first tariff-killing deal in 18 years. "Today's agreement is a landmark," said WTO director-general...

  • UPDATE 2-Visa in talks to reunite with Visa Europe Thursday, 23 Jul 2015 | 6:40 PM ET

    July 23- Credit and debit card issuer Visa Inc said it was in talks to reunite with former subsidiary Visa Europe Ltd in a deal that would give the global company more scale to compete with arch-rival MasterCard Inc.. Visa Inc and Visa Europe, a cooperative of European banks with over 500 million cards, were part of a global bank-owned network until 2007. Most of the...

  • NEW YORK— Starbucks said Thursday its quarterly profit jumped 22 percent as pricier drinks and food helped lift sales at its U.S. cafes. The Seattle- based coffee chain said sales rose 8 percent in its flagship Americas unit. Starbucks Chief Financial Officer Scott Maw said in a phone interview that people are even "trading up" to newer, pricier breakfast...

  • Hefty Zambia rate puts dampener on African Eurobond party Thursday, 23 Jul 2015 | 12:53 PM ET

    JOHANNESBURG, July 23- The hefty 9.375 percent interest rate on Zambia's latest Eurobond offering may mark a turning point in a seven-year spate of foreign issuance by frontier African governments that now face higher borrowing costs as U.S. rates start to creep up. The price of Thursday's $1.25 billion offering stands out as high by the standards of two other...

  • In its report, the group called on Liberia's government to "investigate acts of violence, pass a law recognizing that rural communities own their land, and regulate the country's agriculture sector to bring an end to the impunity enjoyed by plantation companies." The report accused Golden Veroleum of accelerating operations at the peak of Liberia's Ebola...

  • PARIS, July 23- The French government unveiled proposals on Thursday to save hundreds of local ferry jobs and end a dispute at the northern port of Calais that has disrupted traffic through the Channel Tunnel for weeks. The dispute has added to public order concerns in Calais, where thousands of migrants from Africa and the Middle East have gathered in the hope of...

  • *UNITA wants details of China loan deals made public. LUANDA, July 23- Opposition legislators have boycotted a vote in Angola's parliament in a rare show of dissent against one of Africa's most autocratic governments, accusing it of covering up details of lawmaking and new loan deals struck with China. President Eduardo do Santos has held power for 36 years but...

  • As sales fall in US, McDonald's eyes variety of changes Thursday, 23 Jul 2015 | 8:06 AM ET

    NEW YORK— McDonald's is looking at variety of changes to win back customers in the U.S.: A new value message to replace the Dollar Menu, breakfast all day, and nips and tucks to improve the taste of its burgers. Overseas, McDonald's Corp. said the sales figure rose 1.2 percent in Europe. It fell 4.5 percent in the segment including Asia, the Middle East and Africa, as China...

  • WASHINGTON— As President Barack Obama returns to Africa this week, his signature program to help the continent double its access to electricity is in jeopardy, undermined by Congress' refusal to reauthorize the Export-Import Bank. For American companies, that could mean losing out to competitors like China, which is investing heavily in Africa and would be all...