×

Business Africa

  • JAKARTA/ SINGAPORE, Oct 2- Indonesia's biggest coal firm Bumi Resources, facing a probe into its finances by London- listed Bumi Plc, a major shareholder, is considering selling mines and carrying out a rights issue to raise cash, officials said on Tuesday.

  • KAMPALA, Oct 2- Uganda's central bank slashed its key lending rate for the fifth straight month on Tuesday to 13.0 percent from 15.0 percent, but the bank's governor said further cuts were likely to be small after a dramatic fall in inflation.

  • *Jse: whl- completion of acquisition of witchery by country road.

  • JOHANNESBURG, Oct 2- Village Main Reef Ltd:. *Jse: vil- update on unprotected industrial action. *Says may issue an ultimatum to striking employees depending on the outcome of.

  • *Jse: mnd- mnp- Mondi Group divests its interest in aylesford newsprint. *Mondi group sold stake interest in the jointly owned aylesford newsprint. holdings limited to the martland holdings.

  • Oct 2- Sonde Resources Corp:. *Announces third quarter activity and north Africa update. *Anticipate Q3 netback will approximate $1 million with third quarter average.

  • NIAMEY, Oct 2- Niger will spend nearly $2.5 billion to develop and secure its vast northern desert zones over the next five years, according to a new plan aimed at preventing the spillover of a conflict that has split neighbouring Mali in two.

  • LONDON, Oct 2- Banks are offering up to 500 million euros of debt to bidders in private equity firm CVC's sale of Danish store group Matas, as retail deals continue to dominate the European leveraged buyout market this year.

  • JOHANNESBURG, Oct 2- Workers at junior South African gold producer Gold One International's Ezulwini mine embarked on an illegal strike in defiance of a wage agreement signed in July, the company said on Tuesday.

  • Spot gold was up 0.2 percent on the day at $1,777.00 an ounce by 1137 GMT, having touched a peak of $1,791.20 on Monday, its highest since mid-November last year. "Overnight the mood has been quiet, but it feels just a matter of time before $1,800 breaks," Edel Tully, a strategist at UBS, said.

  • LISBON, Oct 2- A 500 million euros cash call by Portugal's Millennium BCP, was fully subscribed by private investors, meaning the state will not become a shareholder, the bank's chief executive said.

  • JOHANNESBURG, Oct 2- South Africa's fuel suppliers are starting to feel the pinch as a strike by more than 20,000 truck drivers enters its second week, with deliveries to pumps delayed and stations running out of certain types of fuel, an industry body said on Tuesday.

  • *Morocco delays target to 2020. RABAT, Oct 2- Morocco is to delay a plan to cap sugar import needs at 45 percent its annual demand by end-2013 after bad weather hit farming this year and as an investment vehicle controlled by the ruling monarchy seeks to divest the sugar industry's monopoly.

  • Another top executive at the JPMorgan unit that lost $5.8 billion on derivatives trades this year is leaving the company. The real estate investment manager named Jeroen Verheijden as a senior vice-president to spearhead the company's client business in the UK, the euro zone and the Middle East.

  • Spot gold was up 0.3 percent on the day at $1,778.89 an ounce by 0945 GMT, having touched a peak of $1,791.20 on Monday, its highest since mid-November last year. "Overnight the mood has been quiet, but it feels just a matter of time before $1,800 breaks," Edel Tully, a strategist at UBS, said.

  • LONDON, Oct 2- Emerging stocks hit 11- day highs on Tuesday and emerging debt spreads tightened on mounting expectations of an imminent bailout request from Spain, while the forint weakened on expectations of lower interest rates in Hungary.

  • LISBON, Oct 2- A planned 500- million-euro cash call by Portugal's largest listed bank by assets, Millennium BCP, was entirely subscribed by private investors, the bank's chief executive said on Tuesday.

  • KAMPALA, Oct 2- Uganda's central bank cut its key lending rate for the fifth straight month on Tuesday to 13.0 percent from 15.0 percent previously, but there were upside risks for inflation to rise due to domestic supply shocks, the bank's governor said.

  • *Oil output at TNK-BP falls almost 1 pct in Sept vs Aug. Russia's oil output edged up 0.3 percent in September compared with August to reach 10.41 million barrels per day, encouraged by oil price increases.

  • KAMPALA, Oct 2- Uganda's central bank cut its key lending rate for the fifth straight month on Tuesday to 13.0 percent from 15.0 percent previously, but there were upside risks for inflation to rise due to domestic supply shocks, the bank's governor said. MARK BOHLUND, SENIOR ECONOMIST FOR SUB-SAHARA AFRICA, IHS GLOBAL INSIGHT.