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  • RPT--African insurers in vogue as incomes rise Monday, 8 Dec 2014 | 3:00 AM ET

    Rapid economic growth in countries such as Ghana, Kenya and Nigeria has increased the number of people with money to spend on insurance to protect their wealth, while regulatory changes are encouraging the growth of domestic savings and pensions. Several major companies, including Swiss Re, Prudential and Sanlam, are buying insurers in Africa, with the focus on...

  • BHP Billiton names spin-off company South32 Monday, 8 Dec 2014 | 2:30 AM ET

    MELBOURNE, Dec 8- A planned spin-off of businesses by global miner BHP Billiton will be called South32 when it seeks multiple stock listings next year, BHP said on Monday. The new name recognizes that most of South32's operations are in the southern hemisphere, with its two regional centers- Australia and South Africa- linked by the thirty-second parallel south...

  • Algeria oil company to maintain investment plan Sunday, 7 Dec 2014 | 12:37 PM ET

    Sonatrach's exports provide Algeria with 98 percent of its hard currency and the aging fields have seen declining production. Sahnoun also announced that the Algeria should begin commercial exploitation of its shale gas by 2022 with an expected production of 20 billion cubic meters. After China and Argentina, Algeria has the largest reserves of shale gas...

  • African insurers in vogue as incomes rise Sunday, 7 Dec 2014 | 4:00 AM ET

    Rapid economic growth in countries such as Ghana, Kenya and Nigeria has increased the number of people with money to spend on insurance to protect their wealth, while regulatory changes are encouraging the growth of domestic savings and pensions. Several major companies, including Swiss Re, Prudential and Sanlam, are buying insurers in Africa, with the focus on...

  • Nov 5- South African financial services advisory firm Alexander Forbes says it is considering potential buys in countries including Ghana and Tanzania. Oct 8- South African insurer Liberty Holdings says it is in final stages of buying an asset manager in Ghana and is also looking to Ethiopia, Rwanda and Nigeria for potential deals. Oct 2- South African insurer...

  • White cast of 'Exodus' reflects cinema tradition Friday, 5 Dec 2014 | 7:00 AM ET

    LOS ANGELES— Put "ancient Egyptian people" into a Google image search, and none of the resulting photos resemble Christian Bale or Joel Edgerton, stars of Ridley Scott's biblical epic "Exodus: Gods and Kings." It's an institutional problem, said professor Todd Boyd, chair for the Study of Race and Popular Culture at the University of Southern California.

  • House leaders move to avoid immigration showdown Friday, 5 Dec 2014 | 3:51 AM ET

    WASHINGTON— Trying to avoid a showdown over immigration, House Republican leaders are moving to make a deal with Democrats to pass a spending bill that would keep the government running past next week. The emerging strategy follows legislation passed Thursday by the House declaring President Barack Obama's executive actions to curb deportations of...

  • The naira is under pressure as falling global oil prices have depressed Nigeria's foreign reserves and the central bank is struggling to keep the currency in a new target band set last week when it devalued the currency by 8 percent to protect its reserves. On Thursday, the finance ministry said it had cut its oil price forecast on which its 2015 budget is based by...

  • NAIROBI, Dec 4- On the edge of Kenya's capital, two doors down from a gleaming display of Germany's luxury Porsche cars, another showroom offers Africa's answer to the continent's potholed roads. Mobius Motors hopes to succeed where many others have failed: designing, building and selling a product in Africa, which has long provided the raw materials to feed the...

  • *Good news for robusta growers such as Vietnam, Indonesia. MUMBAI/ SEOUL, Dec 4- Mumbai civil servant Sachin Kenjale regularly ends his day with a steaming cup of instant coffee after trying the drink for the first time with friends around two years ago. Reaching that milestone would underscore a major market shift, with robusta's popularity soaring as increasing...

  • LAGOS, Dec 2- The Nigerian naira closed higher on Tuesday for only the second time since it was devalued a week ago as the central bank stepped up interventions to support the currency, which still ended below the bank's new target range. The naira has lost 12.3 percent versus the dollar this year as the falling oil price weighed on the already shaky finances of...

  • 2014 goals for Ebola treatment may not be met: UN Tuesday, 2 Dec 2014 | 1:34 AM ET
    File photo: A young man, dressed in a biohazard costume, stands on the corner of 546 West 147th Street in October 2014 in New York City after an American doctor carrying the ebola virus was admitted to Bellevue Hospital

    The World Health Organization expressed doubt on Monday about achieving important United Nations benchmarks in battling Ebola, the NYT reports.

  • *Fosun- led consortium offers 23.50 euros/shr for Club Med. PARIS, Dec 1- Chinese billionaire Guo Guangchang on Monday sweetened his bid for Club Mediterranee at the last minute, outbidding Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle. Bonomi has until 1700 GMT on Dec. 17 to make a counter-offer and a spokesman for Global...

  • LAGOS, Dec 1- Nigeria's central bank failed to keep the naira within its new target band again on Monday and the currency posted a record low closing level as investors continued to fret about the impact of plunging oil prices on Africa's biggest economy. Oil sales provide around 95 percent of Nigeria's foreign exchange and the naira is being driven down by...

  • *Focus on impact of low oil prices on Africa's top producer. LAGOS, Dec 1- The Nigerian naira posted a record low closing level against the dollar on Monday, despite central bank intervention to try and halt its slide, which is being driven by worries about the impact of plunging oil prices on Africa's biggest economy. The central bank has struggled to keep the naira...

  • PARIS, Dec 1- Chinese billionaire Guo Guangchang is set to sweeten his bid for the struggling French holiday group Club Mediterranee to trump Italian tycoon Andrea Bonomi's offer in France's longest-running takeover battle. A source familiar with the $1 billion- plus bid process told Reuters that Guo's conglomerate, the Shanghai- based Fosun, was set to raise...

  • JOHANNESBURG, Dec 1- Anglo American Platinum expects full-year earnings to fall by at least 20 percent because of the record five-month strike that hit its South African operation, it said on Monday. The wages dispute with the Association of Mineworkers and Construction Union, which ended in June, cost Amplats 424,000 ounces in lost production and a further...

  • *U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- An aggressive strategy by Mideast Gulf producers to exploit the lowest oil prices in five years to defend market share is showing signs of bearing fruit as U.S. crude exports to Asia grind to halt. Last week Ali al-Naimi, the oil minister of OPEC kingpin Saudi Arabia, warned his fellow OPEC...

  • *U.S. light oil exports to Asia only started 4 months ago. SINGAPORE, Dec 1- U.S. crude exports to Asia are grinding to a halt just four months after they began, in a sign of how an aggressive strategy by Gulf producers to defend their market share is starting to bear fruit. The move shows how the Organization of the Petroleum Exporting Countries, with its influential...

  • PARIS, Nov 30- Chinese conglomerate Fosun, controlled by billionaire Guo Guangchang, is set to raise its bid for holiday company Club Mediterranee on Monday to trump Italian tycoon Andrea Bonomi, a source familiar with the process said. Fosun had previously offered 22 euros a share in a takeover leapfrog saga that dates back to an offer from Fosun in May 2013.