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Business Africa

  • 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.

  • A Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    Prospects for Libya's crude output were mixed as the state oil firm eased a dispute, but rival Libyan factions feuded over a Gulf rift.

  • TUNIS, June 13- Libya's National Oil Corporation and German oil firm Wintershall have agreed an interim deal to resume production, a step forward in a contract dispute that was blocking up to 160,000 barrels per day. NOC said on Tuesday the arrangement would allow an immediate resumption of production at Wintershall's NC 96 and NC 97 concession areas in eastern...

  • *New UK chief needs to keep nuclear plans on track. Simone Rossi, 47, will take up the post of chief executive at British Energy in mid-July, 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...

  • *Aspen denies any wrong doing, committed to constructive engagement. PRETORIA, June 13- South Africa's competition watchdog has launched an investigation into three drug companies accused of over-charging for cancer medicines, the agency's chief said on Tuesday. Tembinkosi Bonakele, head of the Competition Commission, said the agency would investigate...

  • WASHINGTON— It may not be necessary to expand a ban on laptops and other large electronics in the cabins of many international flights into the United States right now, Homeland Security Secretary John Kelly said Tuesday. Kelly didn't rule out an expansion from 10 current airports, mostly in the Middle East and Africa, to all nonstop flights from Europe to the U.S.,...

  • BEIJING, June 13- China upheld strict sales quotas for electrically powered vehicles in a draft regulation issued on Tuesday, ignoring concessions agreed between Chinese Premier Li Keqiang and German Chancellor Angela Merkel earlier this month. The latest draft by China's Ministry of Industry and Information Technology, open for public comment until June...

  • JOHANNESBURG, June 13- Eskom's chairman quit on Tuesday, worsening a growing leadership crisis at the South African power utility, which is at the centre of influence-peddling allegations. Ben Ngubane, who had been chairman since 2015, is leaving two weeks after the government reversed Eskom's decision to reinstate Brian Molefe as chief executive.

  • ISLAMABAD, June 13- Pakistan expects China to fund a long-delayed Indus river mega dam project in Gilgit-Baltistan, part of disputed Kashmir, with work beginning next year, Planning Minister Ahsan Iqbal said in an interview. "This water reservoir is most critical for food security in Pakistan, so is a very high priority project for Pakistan," Iqbal told Reuters...

  • PRETORIA, June 13- South Africa's competition watchdog has launched an investigation into three pharmaceutical companies suspected of over-charging for cancer medicines, the agency's chief said on Tuesday. Tembinkosi Bonakele, head of the Competition Commission, said the agency would investigate Aspen Pharmacare, Africa's biggest generic drug maker,...

  • PRETORIA, June 13- South Africa's competition watchdog has launched an investigation into three pharmaceutical companies suspected of charging excessively for cancer medicines, the agency's head Tembinkosi Bonakele said on Tuesday.

  • *Spot gold was nearly flat at $1,264.61 per ounce at 0057 GMT. *U.S. gold futures for August delivery fell 0.2 percent to $1,266.9 per ounce. *U.S. inflation expectations tumbled last month, with one key measure hitting its lowest level since early 2016, according to a Federal Reserve Bank of New York survey that could amplify the central bank's concern over a broad...

  • **SEOUL- South Korea's Finance Minister Kim Dong- yeon meets Bank of Korea chief Lee Ju- yeol. 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.

  • Travis Kalanick, chief executive officer of Uber Technologies.

    If Travis Kalanick steps away as CEO of Uber, it's unclear who will replace him. Recode reports.

  • Westonaria, SOUTH AFRICA June 12- South Africa's Sibanye Gold said on Monday that 202 illegal miners have now been arrested at its Cooke operations southwest of Johannesburg since the start of a violent wildcat strike last Tuesday. Illegal gold mining has plagued South Africa for decades, with bullion pilfered from both disused and operating mines, and...

  • Merkel gathered the leaders of current African Union chair Guinea, Egypt, Ivory Coast, Ghana, Mali, Tunisia and others in Berlin to discuss a so-called "compact with Africa" to help finance countries' development needs. The German government said Monday that it had agreed "reform partnerships" with Tunisia, Ivory Coast and Ghana, part of a planned investment of up to...

  • BERLIN, June 12- The Organisation for Economic Co-operation and Development and the African Development Bank expect economic growth in Africa to pick up this year and next. Presenting their latest forecasts at the sidelines of a G20 Africa summit in Berlin, both organisations forecast gross domestic product to expand by 3.4 percent this year after 2.2...

  • DUBAI, June 12- Egypt's EFG Hermes wants to enter Nigeria through an acquisition and expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets, a senior executive told Reuters on Monday. As well as Nigeria, Kenya and Pakistan, EFG is also eyeing expansion into Bangladesh and Vietnam, said Khalpey,...

  • DUBAI, June 12- Egypt's EFG Hermes wants to enter Nigeria through an acquisition and expects to get regulatory approval to start a brokerage business in Kenya this year as part of a big push into frontier markets, a senior executive told Reuters on Monday. As well as Nigeria, Kenya and Pakistan, EFG is also eyeing expansion into Bangladesh and Vietnam, said Khalpey,...

  • The small but economically powerful island nation also will work with China to advance a pending trade deal among the 10- nation Association of Southeast Asian Nations, China, India, Japan and others, Balakrishan said. Longstanding relations between China and Singapore were tested in recent months by Singapore's support for an international court ruling...