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  • LONDON, Feb 11- The naira fell 2 percent on Wednesday and currency forwards priced in more devaluation to come as Nigeria's political and security crisis escalates, while other emerging markets also retreated in face of a stronger dollar. , "Renaissance Capital's head of research, Charles Robertson, said. On stocks and bonds, the Lagos equity index, one of the main...

  • PARIS, Feb 11- European shares were steady on Wednesday ahead of euro zone ministers meetings to discuss Greece's debt crisis and Athens' benchmark stock index fell nearly 4 percent. National Bank of Greece dropped 10 percent, Bank of Piraeus 6.2 percent and Alpha Bank 6.3 percent, while the leading ATG index fell 3.8 percent. Greek Prime Minister Alexis Tsipras...

  • China says "knows nothing" about aid offer for Greece Wednesday, 11 Feb 2015 | 3:12 AM ET

    BEIJING, Feb 11- China's Foreign Ministry said on Wednesday it had no knowledge of any offer by Beijing for aid to Greece after Greece's deputy foreign minister said China had offered economic support even though Athens had not requested it. Nikos Chountis, who also holds the European Affairs portfolio, told Greek radio that Russia had also offered Greece help,...

  • LONDON, Feb 11- Reckitt Benckiser Group's new cost-saving plan will include some job cuts, its chief executive told reporters on Wednesday, though he declined to say how many. Chief Executive Rakesh Kapoor said the program will look at everything from how employees travel and communicate to how they buy stationary. Reckitt will combine operations in Russia and...

  • JOHANNESBURG, Feb 11- With power outages now a daily reality in South Africa and expected to last for the next three years, business and individuals are taking matters into their own hands. Mobile phone giant MTN and Standard Bank are among the companies that have decided to go it alone in trying to keep the lights burning at their businesses.

  • Feb 10- Kinross Gold Corp will not go ahead with a $1.6 billion expansion of its Tasiast mine in Africa's northwest because of the weak gold price, the Toronto- based miner said on Tuesday, as it also reported an unexpected fourth-quarter loss. Bullion, which was last at $1,233 an ounce, is down 36 percent from its peak of $1,920 an ounce in September 2011.

  • Feb 10- Kinross Gold Corp reported a $1.47 billion fourth-quarter loss on Tuesday, well below analysts' expectations, as the Canadian gold producer took impairment charges and writedowns of more than $1 billion. The adjusted loss was $6 million, or 1 cent a share, down from an adjusted loss of $25.1 million, or 2 cents a share, before. Kinross, which has operations in...

  • TRIPOLI, Feb 10- Libya reopened its oil port of Hariga on Tuesday, ending a strike by guards that threatened to further cut the OPEC country's petroleum production that is already battered by factional fighting over two export terminals. The threat to shut down Hariga port illustrated the fragility of oil shipments from Libya, where two rival governments and...

  • TRIPOLI, Feb 10- Libya will exhaust its wheat reserves in two or three months unless a state fund tasked with ensuring supplies receives money held up as a result of the political turmoil gripping the country and a slump in oil revenues, a top official said. Air strikes on the western port of Misrata have made shippers reluctant to deal with Libya, while local banks...

  • TOKYO, Feb 10- Canon Inc plans to buy network video surveillance leader Axis AB for about 23.6 billion Swedish crowns, the biggest purchase ever for the Japanese company that is trying to expand beyond the shrinking camera market. At 1008 GMT, shares of Axis were up 48 percent at 336.70 crowns. The deal will make Canon a top player in the video surveillance market,...

  • JOHANNESBURG, Feb 10- South Africa's Kumba Iron Ore plans to cut jobs, production costs and capital spending to cope with expected weak prices of the commodity this year, it said on Tuesday, after reporting a fall in 2014 earnings. The Anglo American subsidiary, whose shares fell around 3 percent in early trading, said crude steel production was forecast to recover...

  • KINSHASA Feb 9- Mining companies said on Monday the Congolese government's suspension of negotiations with them over new regulations could jeopardise investments, and urged it to resist making big changes to the mining code. Democratic Republic of Congo's chamber of mines said in a statement timed to coincide with an industry event in Cape Town that the...

  • PARIS, Feb 9- Canada reported an outbreak of the highly pathogenic bird flu virus H5N1 in the province of British Columbia, the World Organisation for Animal Health said on Monday. The outbreak was detected on Feb. 2 in a backyard poultry flock in the province of British Columbia, where bird flu cases of the separate H5N2 strain had been reported in December, it said,...

  • Feb 9- McDonald's Corp on Monday reported a steeper-than-expected drop in January sales at established restaurants and pinned a big portion of the blame on the after-effects of food safety scandals in China and Japan. January marked the eighth straight month of worldwide same-restaurant sales declines at McDonald's, which is replacing Chief Executive Don...

  • ABUJA, Feb 9- Nigeria's agreement to delay this week's election on the advice of security forces creates a worrying echo for some of the annulment of 1993' s democratic vote by a military government. The election this Saturday in Africa's biggest economy was set to be the closest fought since the end of military dictatorship in 1999. President Goodluck Jonathan...

  • BENGHAZI/ TRIPOLI, Libya, Feb 9- Libya was trying to end a strike at the port of Hariga so that it can reopen the country's last working onshore export terminal there and prevent the closure of its largest still functioning oilfield, officials said on Monday. On Saturday, Libya shut most operations at the eastern port, located near the border with Egypt, after...

  • Feb 9- McDonald's Corp's worldwide same-restaurant sales fell a steeper-than-expected 1.8 percent in January, as the company struggles to shake off the after-effects of food scandals in China and Japan. January marked the eighth straight month of worldwide same-restaurant sales declines at McDonald's, which is also battling changing consumer tastes,...

  • LAGOS, Feb 9- The Nigerian naira slid to a record low on Monday after a six-week delay to the Feb. 14 presidential election that is stirring concerns about political stability and the central bank's ability to manage a currency hammered by weak oil prices. The currency of Africa's biggest economy and top oil producer was quoted at 196.22 against the dollar at 1234...

  • LONDON, Feb 9- Latin America's oil producers have become caught in the crossfire between OPEC and the North American shale drillers. The number of active land rigs has fallen sharply in OPEC members Ecuador and Venezuela as well as non-OPEC Bolivia, Colombia and Mexico. Even OPEC producers such as Petroleos de Venezuela and Petroecuador are being forced to cut...

  • *Pakistan, like South Korea, has seen many branch closings. HONG KONG, Feb 9- Standard Chartered Plc will shift its retail banking focus to affluent clients from ordinary customers and urge them to bank online as part of a broader restructuring led by embattled CEO Peter Sands, a senior executive told Reuters. The costs cuts and the shift to wealthy clients in Asia,...