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Business Africa

  • LAGOS, March 28- Nigeria's central bank has set a new naira rate for retail exchange bureaus to sell dollars to consumers, the head of the bureau association told Reuters on Tuesday. Nigeria has several exchange rates-- the official one, the black market, a rate for Muslim pilgrims going to Saudi Arabia and a rate for foreign travel, school and medical fees.

  • LAGOS, March 28- Nigeria's central bank has set a new naira rate for retail exchange bureaus to sell dollars to consumers, the head of the bureau association told Reuters on Tuesday. Nigeria has several exchange rates-- the official one, the black market, a rate for Muslim pilgrims going to Saudi Arabia and a rate for foreign travel, school and medical fees.

  • JOHANNESBURG/ PRETORIA, March 28- Finance Minister Pravin Gordhan flew back to South Africa on Tuesday, obeying an abrupt recall from President Jacob Zuma, and said he was still the finance minister when asked about reports that he was about to be sacked. The rand, which trimmed its losses to 1 percent against the dollar following his comment, has been volatile...

  • JOHANNESBURG/ PRETORIA, March 28- Finance Minister Pravin Gordhan flew back to South Africa on Tuesday, obeying an abrupt recall from President Jacob Zuma, and said he was still the finance minister when asked about reports that he was about to be sacked. The rand, which trimmed its losses to 1 percent against the dollar following his comment, has been volatile...

  • LONDON, March 28- Major oil traders gathered in Switzerland this week said they expected OPEC and non- OPEC producers to extend their pact to curb output in the second half of this year, providing Russia complies. An unexpectedly quick return of U.S. shale production since OPEC and non- OPEC producers agreed in December to limit oil production has put the brakes on a...

  • LONDON, March 28- Major oil traders gathered in Switzerland this week said they expected OPEC and non- OPEC producers to extend their pact to curb output in the second half of this year, providing Russia complies. An unexpectedly quick return of U.S. shale production since OPEC and non- OPEC producers agreed in December to limit oil production has put the brakes on a...

  • JOHANNESBURG/ PRETORIA, March 28- Finance Minister Pravin Gordhan flew back to South Africa on Tuesday, obeying an abrupt recall from President Jacob Zuma, and said "let's wait and see" when asked about reports that he was about to be sacked. Zuma's order cut short Gordhan's investor roadshow in Britain and the United States, triggering jitters that a long-running...

  • LONDON, March 28- Barclays is in exclusive talks to sell its stake in its Zimbabwe unit to Malawi- based First Merchant Bank, the lenders said on Tuesday, as the British bank continues its exit from Africa. First Merchant Bank said in a statement on its website it was in exclusive talks to buy out the 68 percent of Barclays Bank of Zimbabwe owned by the British company.

  • JOHANNESBURG/ PRETORIA, March 28- Finance Minister Pravin Gordhan flew back into South Africa on Tuesday, obeying an abrupt recall from President Jacob Zuma, and said "let's wait and see" when asked about reports that he was about to be sacked. The rand fell sharply after Zuma ordered Gordhan's immediate return from a trip to Britain on Monday, rattling investors...

  • JOHANNESBURG, March 28- South African Finance Minister Pravin Gordhan said "let's wait and see" when asked about reports that President Jacob Zuma was set to remove him, as he arrived back from an investor roadshow in Britain on Zuma's orders. Gordhan told reporters shortly after landing at Johannesburg's international airport that he was focused on restoring...

  • JOHANNESBURG, March 28- South Africa's Finance Minister Pravin Gordhan landed home on Tuesday a day after President Jacob Zuma ordered him to return from an investor roadshow in Britain, fuelling speculation of a cabinet reshuffle.

  • JOHANNESBURG, March 28- South Africa's Finance Minister Pravin Gordhan landed home on Tuesday a day after President Jacob Zuma ordered him to return from an investor roadshow in Britain, fuelling speculation of a cabinet reshuffle.

  • JOHANNESBURG, March 28- South Africa's Finance Minister Pravin Gordhan landed home on Tuesday a day after President Jacob Zuma ordered him to return from an investor roadshow in Britain, fueling speculation of a cabinet reshuffle.

  • JOHANNESBURG, March 28- South Africa's Finance Minister Pravin Gordhan landed home on Tuesday a day after President Jacob Zuma ordered him to return from an investor roadshow in Britain, fueling speculation of a cabinet reshuffle.

  • LAGOS/ LONDON, March 27- Earlier this year, an open letter in the Nigerian media from a group of businessmen attacked the "shameful" record of central bank governor Godwin Emefiele and demanded that he should go. With Africa's largest economy in recession for the first time in 25 years, the letter reflects growing anger directed at Emefiele, whose insistence on...

  • LIBREVILLE/ DAKAR, March 28- Charles Lekabi lived comfortably as a driver for an oil company in Gabon's industrial town of Port Gentil until he was laid off three years ago. In OPEC member Gabon, production is in decline, the recovery is slow and may not come at all. The oil sector has accounted for 80 percent of exports, 45 percent of gross domestic product, and 60...

  • BEIJING— American Airlines has agreed to pay $200 million for a stake in China Southern Airlines, the biggest of China's three major state-owned carriers, in a bid for a bigger share of the country's growing travel market. Foreign carriers are forging steadily closer ties with Chinese airlines to gain a bigger share of China's air travel market, which is growing...

  • TRIPOLI, March 27- Libya's National Oil Corporation said on Monday it had asked the U.N.-backed government in Tripoli to withdraw a resolution that seeks to allocate powers over the oil sector. "I have asked the Presidential Council to withdraw its recent resolution," NOC Chairman Mustafa Sanalla said in a statement on Monday. The Presidential Council, the...

  • ABUJA, March 27- Nigeria is likely to pass the 2017 budget into law before May, a lawmaker who chairs a committee on the spending plans in the upper chamber of parliament said on Monday. The budget lays out plans to pull Africa's largest economy out of its first recession for 25 years, largely prompted by low global prices for the oil it produces and the impact of...

  • It is supposed to help protect human-rights activists, labor organizers and journalists working in risky environments, but a GPS-enabled "panic button" that Colombia's government has issued to about 400 people could be exposing them to more peril. "This is negligent in the extreme," said Eva Galperin, director of cybersecurity at the nonprofit Electronic...