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  • ABUJA, June 31- Telecoms firm MTN hired former U.S. Attorney General Eric Holder in January to help it reduce a $3.9 billion fine imposed in Nigeria over unregistered SIM cards. The regulator, the Nigerian Communications Commission, rejected the proposal as unjustifiable, documents show, but three months later it accepted a broadly similar deal.

  • JOHANNESBURG, June 29- South Africa's state-owned Strategic Fuel Fund said on Wednesday it had offered to buy Chevron's majority stake in the country's oil refinery in Cape Town and other downstream assets as well as those in neighboring countries. Chevron said in January it would sell its business in Africa's most industrialized country after disposing of...

  • JOHANNESBURG, June 29- South Africa's state-owned Strategic Fuel Fund said on Wednesday it had offered to buy Chevron's majority stake in the country's oil refinery in Cape Town and other downstream assets as well as those in neighbouring countries. Chevron said in January it would sell its business in Africa's most industrialised country after disposing...

  • INVESTOR GEORGE SOROS SAYS' BREXIT' MAKES' DISINTEGRATION OF THE EU PRACTICALLY IRREVERSIBLE'.

  • Federal Reserve chief Janet Yellen's circumspect tone on raising interest rates helped emerging stocks almost half a percent higher on Wednesday while the naira firmed in forward markets on its third day as a floating currency. While the Fed chair virtually ruled out a rate rise in July, lingering jitters over Britain's vote on Thursday on European Union...

  • *Rob Shuter to take over by July 2017. JOHANNESBURG, June 20- South African mobile phone operator MTN Group named the head of Vodafone Europe as its new CEO on Monday, bringing in an outsider with a risk-management background 10 days after it agreed to pay a $1.7 billion fine in Nigeria. Rob Shuter, who also has a background in banking, replaces Sifiso Dabengwa who...

  • *Rob Shuter to take over by July 2017. JOHANNESBURG, June 20- South African mobile phone operator MTN Group named the head of Vodafone Europe as its new CEO on Monday, bringing in an outsider with a risk management background less than two weeks after it agreed to a $1.7 billion fine to settle a dispute in Nigeria. Rob Shuter, a South African national with a background...

  • *Mozambique paid 7 pct arrangement fee on loan- documents. JOHANNESBURG, June 11- Mozambique, one of the world's poorest countries, paid $35 million in up-front "arrangement fees" for a $500 million loan organised by Russia's VTB Bank, according to loan related documents reviewed by Reuters. The MAM debt is part of $2 billion that Mozambique has borrowed through...

  • *Nigeria lower house surprised by deal, still investigating. Nigeria, battling its worst economic crisis for decades, agreed to cut the fine initially demanded by almost 70 percent after MTN threatened to pull out of the West African nation, a Nigerian official said. Nigeria has been cracking down on unregistered SIM cards, concerned they are used for criminal...

  • *Nigeria lower house surprised by deal, still investigating. Nigeria has been cracking down on unregistered SIM cards, concerned they are used for criminal activity in a country fighting an insurgency by Islamist militant group Boko Haram. MTN had threatened to pull out of Nigeria as paying the fine in full would have crippled its local operations, a government...

  • JOHANNESBURG, June 10- MTN Group has agreed to pay a reduced fine of 330 billion naira in a settlement with the Nigerian government of a long-running dispute over unregistered SIM cards, sending shares in the South African telecoms group soaring. The settlement clears the way for MTN to list its local unit on the Nigerian Stock Exchange. The fine will be paid over...

  • The fine will be paid over three years and is only around a third of the $5.2 billion figure initially demanded by Nigeria last October for failing to deactivate more than five million unregistered SIM cards on MTN's network. Nigeria had been pushing operators to verify the identity of their subscribers, concerned that unregistered SIM cards were being used...

  • VANCOUVER/ TORONTO June 8- For the first time in five years, Barrick Gold and other bullion miners are getting ready to expand, breaking from their monologue on cutting costs and debt because of tumbling gold prices. Backed by healthier balance sheets, a 17 percent rise in the price of gold since January to $1,244 an ounce and new investors, miners from Canada to...

  • VANCOUVER/ TORONTO June 8- For the first time in five years, Barrick Gold and other bullion miners are getting ready to expand, breaking from their monolog on cutting costs and debt because of tumbling gold prices. Backed by healthier balance sheets, a 17 percent rise in the price of gold since January to $1,244 an ounce and new investors, miners from Canada to...

  • *Swiss watchdog FINMA says in touch with CS over Mozambique loans. ZURICH/ CAPE TOWN, June 7- Financial watchdogs from Switzerland and Britain are looking into Credit Suisse's involvement in Mozambique, where heavy undisclosed sovereign borrowing has pushed the country close to default. Swiss regulator FINMA said it was in touch with the Zurich- based bank over...

  • *Depressed oil prices have hit Angola hard. LUANDA, June 6- Isabel dos Santos, the billionaire daughter of Angolan President Jose Eduardo dos Santos, pledged a root and branch overhaul of state oil firm Sonangol on Monday to improve its efficiency and margins to offset the "huge" impact of depressed oil prices. A presidential decree issued last week said Isabel,...

  • JOHANNESBURG, June 4- Standard& Poor's decision to maintain South Africa's investment grade credit rating has taken some pressure off President Jacob Zuma ahead of elections in August, although analysts said the country is still vulnerable to a downgrade to "junk" status. S&P kept its negative outlook on South Africa's BBB- rating after a review on Friday,...

  • LONDON, June 3- An HIV drug first approved less than three years ago is being rolled out in Botswana as a core medicine for newly diagnosed patients, following the largest ever tender secured by GlaxoSmithKline's HIV business in Africa. Campaign groups such as Medecins Sans Frontieres have been pushing for the new drug to be offered to people in developing...

  • *Africa's richest woman heads Angola state oil firm. Angola, currently Africa's top oil producer because of supply outages caused by militant attacks in Nigeria's Niger Delta, said in April it would restructure Sonangol to increase efficiency and profitability. The president's son, Jose Filomeno, is chief executive of Angola's sovereign wealth fund.

  • JOHANNESBURG/ LONDON, June 1- Distell's main shareholder Remgro said it would act in the best interests of its own shareholders and those of the South African drinks company in response to the enforced sale of fellow investor SABMiller's stake. South Africa's Competition Commission made one of the conditions for Anheuser-Busch InBev's acquisition of...