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Business Africa

  • LONDON, June 19- Some sovereign investors are reducing their exposure to fossil fuels or seeking clean alternatives to protect their portfolios from rising environmental risk. Norway's $900 billion sovereign wealth fund-- itself financed by oil sales-- and the New Zealand Super Fund are among those adjusting investments in anticipation of tougher...

  • LONDON, June 19- Some sovereign investors are reducing their exposure to fossil fuels or seeking clean alternatives to protect their portfolios from rising environmental risk. Norway's $900 billion sovereign wealth fund-- itself financed by oil sales-- and the New Zealand Super Fund are among those adjusting investments in anticipation of tougher...

  • Nairobi, Kenya skyline

    Mark Zuckerberg is one of the Silicon Valley leaders who have invested in the continents tech ecosystem.

  • *Taxify takes on Uber in Europe, Africa; joining other up-starts globally. *Taxify will soon test model in London, biggest European market. Estonia upstart Taxify is hoping to win over drivers and take on Uber Technologies Inc, the industry leader, by offering a larger share of the profit.

  • *Taxify will soon test model in London, Uber's biggest market. TALLINN, June 16- The key to success for ride sharers is keeping drivers happy so they run the app ensuring enough cars to meet passenger demand. Estonia upstart Taxify is hoping to win over drivers and take on giant Uber by offering a larger share of the profit.

  • BANGKOK— The head of Thailand's military government has used his special powers to cut through regulations and launch work on a much-delayed 179 billion baht joint Thai-Chinese project for a new railway from Bangkok to the northeast. The rail project is part of China's "One Belt, One Road" project allowing cross-border development and connectivity among...

  • *Iran gas deal that India wanted likely goes to Russia. NEW DELHI, June 15- India's oil imports from Iran have fallen to their lowest since June 2016, shipping data shows, in possible retaliation for Tehran not awarding a gas field development to Indian companies. India, Iran's top oil client after China, shipped in 487,600 barrels per day in May, about 9 percent less...

  • WASHINGTON, June 15- American Airlines and the U.S. Transportation Security Administration said on Thursday they were testing a new high-definition airport screening device that could allow passengers to keep liquids and laptops in carry-on luggage during screening and potentially avoid new restrictions on in-cabin electronics.

  • *FTSE 100 down 0.7 pct, FTSE 250 falls 2.1 pct. LONDON, June 15- British mid-caps suffered their worst one-day drop in nearly a year on Thursday as a sharp slowdown in the country's retail sales last month offered the latest sign of darkening clouds over companies exposed to the domestic economy. The slide in UK stocks worsened after the Bank of England said that its...

  • Nike said it would reduce the number of its business segments to four from six as part of the initiative, being rolled out at a time the company is battling for market share in North America with a resurgent Adidas AG and a fast-growing Under Armour Inc.. Shares of the world's No.1 shoemaker were down 2.7 percent at $53.59 in early trading, making them the biggest...

  • *Switzerland to dismantle secrecy from next year. *Graphic on cash in Switzerland: https://tinyurl.com/yahq67uv. ZURICH, June 15- Switzerland's private banks, used for decades by the world's wealthy to hide money and avoid tax, are pushing for extra legal protection of client information that could halt a much-heralded exchange of data with dozens of...

  • BENGHAZI, Libya, June 15- A parallel state oil company based in eastern Libya has ordered a halt to exports handled by Glencore from the port of Hariga, putting the trading giant once again at the heart of a long-standing dispute for the control of Libya's oil. The eastern NOC called on the port's operator to halt Glencore's loadings because of the trader's links to...

  • Trevor Edwards, the president of the Nike brand, will lead the new initiative, which will also involve making several changes to its leadership structure, the company said. Starting in fiscal 2018, the company will report results based on four new operating segments: North America, Europe, Middle East and Africa, Greater China, and Asia Pacific and Latin America.

  • *Gigaba says "hard decisions to be made" on economy. PRETORIA, June 15- South Africa's Finance Minister Malusi Gigaba said on Thursday the Treasury was looking for ways to cut government spending further and reallocate funds to help boost growth while maintaining its fiscal target. Gigaba, who was appointed as finance minister in March after President Jacob Zuma...

  • June 15- Nike Inc said on Thursday it would cut about 2 percent of its global workforce as part of efforts to simplify its organizational structure, that will bring down its business segments to four from six. The new operating segments are: North America; Europe, Middle East and Africa; Greater China; and Asia Pacific and Latin America. Nike's shares were down 2...

  • South Africa's Chamber of Mines has decided to take the government to court over its decision to raise the threshold for black ownership.

  • PRETORIA, June 15- South Africa's Finance Minister Malusi Gigaba said on Thursday the Treasury was looking for ways to cut government spending further and reallocate funds to help boost growth while maintaining its fiscal target. Gigaba, who was appointed as finance minister in March after President Jacob Zuma sacked Pravin Gordhan, a favourite of...

  • PRETORIA, June 15- South Africa's Finance Minister Malusi Gigaba said on Thursday the Treasury was looking into possibilities for further cuts in government spending and reallocation of funds to help boost growth and still remain within its fiscal target. Gigaba, who was appointed as finance minister in March, replacing sacked Pravin Gordhan, a favorite of...

  • *Iran gas deal that India wanted likely goes to Russia. NEW DELHI, June 15- India's oil imports from Iran have fallen to their lowest since June 2016, shipping data shows, in possible retaliation for Tehran not awarding a gas field development to Indian companies. India, Iran's top oil client after China, shipped in 487,600 barrels per day in May, about 9 percent less...

  • NEW DELHI, June 15- India imported 4.2 percent less oil in May than in the previous month, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research& Forecasts showed. Iraq remained top supplier to India, followed by Saudi Arabia and Iran. India has said it will reduce its oil imports from Iran due to a dispute with Tehran over the...