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Business Africa

  • *Sudan banned all Egyptian agricultural goods in March. CAIRO/ KHARTOUM, April 27- When Egyptian media began making Sudan and its smaller if more numerous pyramids the subject of jokes on nightly talk shows recently, Sudanese were not amused. Hany Hussein, executive director of Egypt's Agricultural Export Council, says that seven months after the initial import...

  • BALTIMORE— Under Armour slipped to a loss in its first quarter as costs rose, but it still beat Wall Street expectations and shares surged more than 11 percent before the market opened Thursday. International revenue, from Europe, the Middle East, Africa, the Asia-Pacific and Latin America regions, made up 20 percent of total revenue in the quarter.

  • By Karin Strohecker and Sujata Rao. LONDON, April 26- President Jacob Zuma's exit, whenever it comes, will be no panacea for South Africa's deepening political problems which many investors blame on the ruling ANC party rather than its 75- year-old leader. South Africa is a key emerging economy, with a $140 billion bond market and a $825 billion equity market that...

  • LONDON, April 27- Political risk is the biggest concern this year for insurers globally, following several shock outcomes in 2016, a survey of insurers managing $10 trillion in assets showed on Thursday. Political events have overtaken issues such as worries about an economic slowdown in the United States or China to become the top macro-economic risk for...

  • SHANGHAI/ BEIJING, April 26- China says its Silk Road initiative is helping create "a new era of globalisation" open to all, according to a draft communique for a summit next month on the project, as Beijing burnishes its free trade credentials amid protectionist forces elsewhere. Leaders from 28 countries will attend the Belt and Road Forum in Beijing on May 14-15,...

  • SHANGHAI/ BEIJING, April 26- China says its Silk Road initiative is helping create "a new era of globalization" open to all, according to a draft communique for a summit next month on the project, as Beijing burnishes its free trade credentials amid protectionist forces elsewhere. Leaders from 28 countries will attend the Belt and Road Forum in Beijing on May 14-15,...

  • NEW YORK— A Fox News Channel anchor who is black has joined a racial discrimination lawsuit against his company, saying Wednesday that the network marginalized him and has little interest in promoting diversity. He said former Fox host Bill O'Reilly rejected a piece Wright had prepared after racial protests in Ferguson, Missouri, because it showed blacks in "...

  • LONDON, April 26- President Jacob Zuma's exit, whenever it comes, will be no panacea for South Africa's deepening political problems which many investors blame on the ruling ANC party rather than its 75- year-old leader. South Africa is a key emerging economy, with a $140 billion bond market and a $825 billion equity market that is often used by global investors as...

  • CAPE TOWN, April 26- A South African pact with Russia's Rosatom to build nuclear reactors was deemed unlawful by a High Court on Wednesday, casting fresh doubt over the country's energy plans. South Africa and Russia signed an Intergovernmental Agreement in 2014 that sealed a cooperation pact between state-owned nuclear group Rosatom and state-owned...

  • CAPE TOWN, April 26- A South African pact with Russia's Rosatom to build nuclear reactors was deemed unlawful by a High Court on Wednesday, casting fresh doubt over the country's energy plans. South Africa and Russia signed an Intergovernmental Agreement in 2014 that sealed a cooperation pact between state-owned nuclear group Rosatom and state-owned...

  • CONAKRY, April 26- Guinea will not accept any major changes to the terms of the Simandou iron ore project that Chinalco bought from Rio Tinto, including building a 650- km railway rather than taking a shorter route via its neighbours, the mines minister said on Wednesday. Rio had a 46.6 percent stake in two of the four blocks that make up Simandou, while state-owned...

  • NEW YORK— Halfway through Valentine's Day, florist Ajay Kori realized he was in the midst of a disaster. When a small business has a crisis, it can in some ways be more vulnerable than a behemoth like United Airlines, which got plenty of attention this month after video of a passenger being dragged off a plane went viral. Kori knew he had to move quickly to limit the...

  • CAPE TOWN, April 26- A South African pact with Russia's Rosatom to build nuclear reactors was deemed unlawful by a High Court on Wednesday, casting fresh doubt over the country's energy plans. South Africa and Russia signed an Intergovernmental Agreement in 2014 that sealed a cooperation pact between state-owned nuclear group Rosatom and state-owned...

  • *South Africa considers strategic reserve as fresh El Nino looms. POTCHEFSTROOM, South Africa, April 26- South Africa, the continent's biggest maize producer and hard hit by an El Nino-triggered drought last year, is considering a strategic grain reserve as a buffer against future shortages, its agriculture minister told Reuters. Neighboring countries such as...

  • SHANGHAI/ BEIJING, April 26- China says its Silk Road initiative is helping create "a new era of globalisation" open to all, according to a draft communique for a summit next month on the project, as Beijing burnishes its free trade credentials amid protectionist forces elsewhere. Leaders from 28 countries will attend the Belt and Road Forum in Beijing on May 14-15,...

  • SHANGHAI/ BEIJING, April 26- China says its Silk Road initiative is helping create "a new era of globalization" open to all, according to a draft communique for a summit next month on the project, as Beijing burnishes its free trade credentials amid protectionist forces elsewhere. Leaders from 28 countries will attend the Belt and Road Forum in Beijing on May 14-15,...

  • DUBAI, April 26- The volume of international bond issues from the Gulf may hit a record high for a second straight year in 2017 as lower oil prices crimp the capacity of banks to finance billions of dollars of investments and state budget deficits. Issuance data shows the six-nation Gulf Cooperation Council's bond market is on track to become more important than...

  • SYDNEY, April 26- London copper held near its highest in a week on Wednesday as the U.S. dollar lost ground against the euro in the wake of the French election, making commodities more affordable for buyers paying with other currencies. *SHFE COPPER: Shanghai Futures Exchange copper climbed 1 percent to 46,350 yuan a tonne. *BHP RESULTS: BHP Billiton, cut its full-year...

  • *Spot gold slipped 0.2 percent to $1,261.36 per ounce by 0055 GMT. *The U.S. military started moving parts of the controversial THAAD anti-missile defense system to a deployment site in South Korea on Wednesday amid high tensions over North Korea's missile and nuclear programs. *The threat of a U.S. government shutdown this weekend appeared to recede on Tuesday...

  • HOUSTON/ CARACAS, April 25- As political turmoil in Venezuela mounts, oil firms including Norwegian major Statoil ASA and Spain's Repsol SA have further reduced their already-dwindling ranks of expatriate employees in the country, sources familiar with the situation said. Statoil, Repsol and Chevron Corp are among the foreign oil companies that hold...