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  • NEW YORK— Frits van Paasschen, the energetic CEO of Starwood Hotels& Resorts Worldwide Inc., resigned Tuesday morning. The Stamford, Connecticut- based hotel company has been led by van Paasschen since September 2007. Aron has been on Starwood's board since 2006. He is the former CEO of both Vail Resorts and Norwegian Cruise Line.

  • Japan to give $15.5 million for anti-terror efforts Tuesday, 17 Feb 2015 | 12:07 AM ET

    TOKYO— Japan said Tuesday it will provide $15.5 million in development aid to support anti-terrorism efforts in the Middle East and Africa. Foreign Minister Fumio Kishida said the contribution, about half of which Japan had already pledged, is intended to bolster counter-terrorism capacity in the regions affected by the group and other militants.

  • Dividend growth likely to slow after record 2014 Monday, 16 Feb 2015 | 5:50 AM ET

    LONDON, Feb 16- A record-breaking year for dividends in 2014 is unlikely to be followed by much growth this year as a slump in oil prices and a surging U.S. dollar cast a shadow over payouts from energy and emerging markets companies, a new report has said. Asset-manager Henderson Global Investors said on Monday it expected global dividends to rise by 0.8 percent to...

  • JOHANNESBURG, Feb 14- South African power utility Eskom said on Saturday it was imposing "Stage 2" rolling blackouts until 2000 GMT due to pressure on the national grid and the need to build up diesel reserves and water in hydropower dams. "State 2" means the utility is reducing nationwide demand by 2,000 MW, out of normal demand of around 30,000 MW.

  • Egypt's decision to buy 24 of the Dassault Aviation fighters follows failures by successive French governments to sell the plane and leapfrogs three years of inconclusive talks for a 126- plane contract with India. Sisi has been looking to upgrade Egypt's military hardware over fears Islamist militias in neighboring Libya could take control and directly...

  • LAGOS, Feb 13- Nigeria's central bank banned banks on Friday from reselling dollars bought at a currency auction to other banks, dealers said, a move aimed at curbing speculation in the beleaguered naira currency. The naira has crashed through the psychologically important level of 200 to the dollar this week in a rout triggered by weak oil prices and escalating...

  • FRANKFURT, Feb 13- Germany's Rocket Internet went to investors with a capital hike just four months after its stock flotation, asking for fresh funds following a 1 billion euro spending spree that targets online food takeaway businesses as the next big thing. The Berlin- based company, Europe's biggest Internet player thanks to its stakes in more than 100...

  • KAMPALA/ ACCRA, Feb 12- Young Ghanaian entrepreneur Nana Tamakloe could hardly have a simpler business plan. "Most of the clothes sellers and tailors don't have a way to reach clients abroad, so I was like:' Let's create an e-commerce platform,"' said Tamakloe, whose www.fashionghana.com website serves customers in the West and some in Africa. Tamakloe's business is...

  • LAGOS, Feb 13- Trading on Nigeria's foreign exchange market will be delayed until after 10 a.m. on Friday to allow dealers to submit demand for dollars to the central bank, the head of the Financial Market Dealers Association said. The central bank will then inject dollars into the market in what FMDA president David Adepoju described as "a special forex auction".

  • LAGOS, Feb 13- Trading on Nigeria's foreign exchange market will be delayed until after 10 a.m. on Friday to allow dealers to submit demand for dollars to the central bank, the head of the Financial Market Dealers Association said. The central bank will then inject dollars into the market in what FMDA president David Adepoju described as "a special forex auction".

  • The company, which makes about 6 percent of the world's steel and is one of the world's largest iron ore producers, cut its estimate for global steel consumption because of a slowdown in China and heavy declines in Brazil and former Soviet states. The two regions account for about two thirds of ArcelorMittal's steel shipments. Chief Executive Lakshmi Mittal...

  • UPDATE 1-Novavax starts Ebola vaccine trial in humans Thursday, 12 Feb 2015 | 12:06 PM ET

    Feb 12- Novavax Inc has begun early-stage human trials of an Ebola vaccine that it hopes can win the race to become the most effective shot for the deadly virus. The company has the means to manufacture millions of doses of the vaccine every month and is seeking funding to develop it further, Chief Executive Stanley Erck told Reuters. Even as President Barack Obama...

  • LAGOS, Feb 12- Nigeria's central bank chief said on Thursday there was "no need to panic" about a slide in the currency, after figures showed the bank had been burning through more than $110 million a day in a vain attempt to defend it. The naira has crashed through the key level of 200 to the dollar this week in a rout sparked by weak oil prices and escalating tension over...

  • KAMPALA/ ACCRA, Feb 12- Young Ghanaian entrepreneur Nana Tamakloe could hardly have a simpler business plan. "Most of the clothes sellers and tailors don't have a way to reach clients abroad, so I was like:' Let's create an e-commerce platform,"' said Tamakloe, whose www.fashionghana.com website serves customers in the West and some in Africa. Tamakloe's business is...

  • LAGOS, Feb 12- Nigeria's central bank chief said on Thursday there was "no need to panic" over the slide of the currency, after figures showed the bank had spent over $110 million a day over nine recent trading sessions in a vain attempt to defend it. He said the bank's Monetary Policy Committee did not need to hold an emergency meeting, and ruled out a float of the...

  • Novavax starts Ebola vaccine trial in humans Thursday, 12 Feb 2015 | 8:27 AM ET

    Feb 12- Novavax Inc has begun early-stage testing of its Ebola vaccine in humans, the company said, less than five months after entering the race to develop a shot for the deadly virus. Other potential vaccines include those being developed by a NewLink Genetics Corp and Merck& Co Inc collaboration and by Johnson& Johnson and Bavarian Nordic A/S.

  • WASHINGTON, Feb 12- Former top U.S. officials have urged Congress to keep the Export-Import Bank alive to shore up the United States' economic and security interests. "From our prior experience in government, each of us has seen how commercial and economic diplomacy have become critical elements of US national security," said the letter, whose signatories include...

  • Feb 11- Yamana Gold Inc will go ahead with the construction of a mine at its Cerro Moro gold and silver project in Argentina, the Toronto- based gold miner said on Wednesday. All-in sustaining costs, the gold industry's benchmark cost metric, are expected to be between $547 to $557 per ounce of gold and $7.60 to $7.80 per ounce of silver over the life of the mine, Yamana...

  • Feb 11- Travel review website operator TripAdvisor Inc reported better-than-expected quarterly revenue as the company earned more from click-based advertising and subscriptions. TripAdvisor's revenue from North America, its biggest market, rose 35 percent as leisure and business travel increased in the United States. TripAdvisor's net income...

  • LAGOS, Feb 11- Nigerian dealers pulled the plug on electronic trading in the naira on Wednesday after the currency slid past 200 to the dollar on fears the postponement of this week's election could trigger a constitutional crisis in Africa's biggest economy. Deploying for the first time a' circuit-breaker' agreed among themselves last month, leading banks in...