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Business Africa

  • 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...

  • JAKARTA- Indonesia Central Bank board of governors meeting. SYDNEY- Reserve Bank of Australia Deputy Governor Guy Debelle gives a speech at a Thomson Reuters industry event- 0740 GMT. MONDAY, JUNE 19 CANBERRA- Reserve Bank of Australia Governor Philip Lowe takes part in panel discussion at the 2017 Crawford Australian Leadership Forum in Canberra.

  • *Turkish minister leaves for Qatar, may visit Saudi Arabia. ANKARA/ DOHA, June 14- Turkey sent its foreign minister to Qatar on Wednesday as part of a drive to repair Qatar's rift with fellow Gulf Arab states. Saudi Arabia, Egypt, the United Arab Emirates and Bahrain have broken off ties and imposed sanctions on Qatar, accusing it of supporting terrorism and courting...

  • *Barrick, Tanzania teams set up to resolve export ban. Tanzania is Africa's fourth-largest gold producer, and Acacia its largest miner, with three gold mines that also produce copper in the East African country. Acacia's market value has nearly halved to about $1.4 billion since Tanzania banned the export of unprocessed ore in March, part of a push for the...

  • *Barrick, Tanzania teams set up to resolve export ban. DAR ES SALAAM/ NAIROBI, June 14- Barrick Gold Corp subsidiary Acacia Mining PLC and Tanzania agreed on Wednesday to hold talks aimed at resolving an escalating dispute over an export ban, after a meeting between Barrick's chairman and the country's president. Acacia's valuation has nearly been halved, to some...

  • TOKYO, June 15- Tokyo Electric Power Co will work with local government to review the safety of its Kashiwazaki-Kariwa nuclear plant, which could mean a later restart date than planned originally, the company's incoming CEO said. Ryuichi Yoneyama, the governor of Niigata prefecture in north west Japan where the plant is located, has said he will not discuss the...

  • DUBAI, June 14- Qatar National Bank, the largest bank in the Middle East and Africa, has seen no significant outflows of deposits since a diplomatic rift started between Qatar and certain other Arab countries, it said on Wednesday. Last week, Saudi Arabia, the United Arab Emirates, Bahrain and Egypt decided to cut diplomatic ties with Qatar and impose stringent...

  • *Turkish foreign minister leaves for Qatar, may visit Saudi Arabia. Saudi Arabia, Egypt, the United Arab Emirates and Bahrain have broken off ties and imposed sanctions on Qatar, accusing it of supporting terrorism and courting regional rival Iran- allegations Doha denies. "Our main priority as part of our efforts with both Qatar and Saudi Arabia and other Gulf...

  • *Acacia, Tanzania teams set up to resolve export ban. Acacia's market value has nearly halved to about $1.4 billion since Tanzania banned the export of unprocessed ore in March, part of a push for the construction of a local smelter to make the country's gold exports more valuable. "The company is ready to hold talks with the government of Tanzania over the payment...

  • June 14- U.S. drugmaker Pfizer has denied allegations it over-charged for cancer medicines in South Africa following an investigation launched on Tuesday into three drug companies by the country's competition watchdog. The Competition Commission said it would investigate Aspen Pharmacare, Africa's biggest generic drugmaker, Pfizer and Swiss-based...

  • *New UK chief needs to keep nuclear plans on track. Simone Rossi, 47, will take up the post of chief executive at EDF Energy in November, succeeding Vincent de Rivaz, who is retiring after 15 years as CEO of the unit. Rossi's role will include keeping the project on track, when similar Areva-designed European Pressurized Reactor projects in France, Finland and China...

  • BEIJING/ HONG KONG, June 14- The Export-Import Bank of China plans to issue up to another $4 billion in euro- and dollar-denominated bonds this year, on top of $4 billion issued so far, as Beijing's Belt and Road initiative drives demand for foreign currency funds. In a rare interview, Wang Kai, general manager of the policy lender's treasury department, said EXIM...

  • *Americas CEO says sees great growth prospects for bank in US. NEW YORK/ HONG KONG, June 14- Standard Chartered aims to expand its U.S. presence with a local hiring push and by bolstering its team in the country with senior staff from its main regions of Asia, the Middle East and Africa, its top bankers said. When I say that, we are not looking to be JPMorgan or BAML or Wells...

  • ISLAMABAD, June 14- Last year, Pakistan held informal talks with General Electric, Siemens and Switzerland's ABB to build the country's first high-voltage transmission line. In Pakistan, whose geographical position makes it central to Beijing's " Silk Road" plans, contracts have been awarded for projects worth more than $28 billion all by Chinese companies...

  • BANGKOK- Thailand Deputy Prime Minister Somkid Jatusripirak, Finance Minister Apisak Tantivorawong and Bank of Thailand Governor Veerathai Santiprabhon speak at a seminar on fintech. TBILISI- National Bank of Georgia monetary policy committee meeting. JAKARTA- Indonesia Central Bank board of governors meeting.