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Business Africa

  • LONDON, Jan 18- Oil held steady above $69 a barrel on Thursday, supported by falling inventories of crude and threats of an attack on Nigeria's petroleum industry, although a reported rise in U.S. fuel supplies weighed. Crude is within sight of its highest since December 2014, supported by supply cuts led by the Organization of the Petroleum Exporting Countries...

  • ABIDJAN, Jan 17- Ivory Coast awarded Tullow Oil two new oil and gas blocks on Wednesday, including one along the maritime boundary with Ghana, government spokesman Bruno Kone said. Africa- focused Tullow now holds stakes in nine Ivorian blocks, eight of which it has picked up since an international tribunal in September ruled in favour of Ghana in a dispute over the...

  • *2016 attacks helped push Nigeria into recession. YENAGOA/ LAGOS, Nigeria, Jan 17- Nigerian militants threatened on Wednesday to attack off-shore oil facilities within days, raising fears of a repeat of a 2016 wave of violence that helped push Africa's biggest economy into recession. Akpo stakeholders include Total, China's CNOOC, Brazil's Petrobras and...

  • LONDON, Jan 17- GlaxoSmithKline is cutting back operations in Africa as its new Chief Executive Emma Walmsley seeks to make the British drugmaker more competitive in emerging markets by ditching her predecessor's expansion plans for the continent. Today, the same experts at research company IQVIA, previously known as IMS Health, suggest it is more likely to be...

  • BRUSSELS/ NAIROBI, Jan 17- Police on Wednesday searched the headquarters of Belgian company Semlex, which supplies passports to various African countries, and the home of its CEO, Albert Karaziwan. About a dozen officers arrived at Semlex's office in Brussels and at Karaziwan's house in the city early in the morning. Earlier this week, authorities in the Comoros...

  • *Attacks in 2016 helped push Nigeria into recession. YENAGOA/ LAGOS, Nigeria, Jan 17- Nigerian militants threatened on Wednesday to attack off-shore oil facilities within days, raising fears of a repeat of a 2016 wave of violence that helped push Africa's biggest economy into recession. Akpo stakeholders include Total, China's CNOOC, Brazil's Petrobras and...

  • *Attacks in 2016 helped push Nigeria into recession. YENAGOA/ LAGOS, Nigeria, Jan 17- Nigerian militants threatened on Wednesday to attack off-shore oil facilities within days, raising fears of a repeat of a 2016 wave of violence that helped push Africa's biggest economy into recession. Akpo stakeholders include Total, China's CNOOC, Brazil's Petrobras and...

  • JOHANNESBURG— Global management consultancy firm McKinsey is coming under increasing scrutiny in South Africa amid government efforts to recover funds linked to a corruption scandal. South African media outlets are reporting that asset forfeiture officials have filed an affidavit alleging that the country's power utility made a $130 million illegal...

  • A view of Pico Cao Grande, a volcanic peak on Sao Tome island on January 1, 2018.

    China's Foreign Minister Wang Yi concluded his annual trip to Africa with a visit to the tiny island nation of Sao Tome and Principe.

  • TOKYO, Jan 17- Japan Tobacco Inc, which is on the hunt for overseas acquisitions to offset a shrinking home market, is working on several possible deals as it targets growth in Asian and other emerging markets, its new chief executive said on Wednesday. Masamichi Terabatake told Reuters he saw the potential for deals in South America, Africa and the Middle East, in...

  • The group claimed responsibility for most attacks on oil facilities in the Niger Delta in 2016, which cut Nigeria's crude production from a peak of 2.2 million barrels per day to near 1 million barrels per day. The group, which wants a greater share of Nigeria's energy wealth to go to the impoverished Delta region, said its targets would include Bonga Platform,...

  • JOHANNESBURG, Jan 17- South Africa's companies registry office is pursuing criminal complaints against SAP, KPMG and McKinsey on suspicion that business they conducted with friends of President Jacob Zuma broke the companies act, it said on Wednesday. The Companies and Intellectual Property Commission submitted the complaints to South African police in...

  • TOKYO, Jan 17- Japan Tobacco Inc, which is on the hunt for overseas acquisitions to offset a shrinking home market, is working on several possible deals as it targets growth in Asia and other emerging markets, its new chief executive said on Wednesday. Masamichi Terabatake told Reuters he saw potential for deals in South America, Africa and Middle East, in addition...

  • Rep. Mark Meadows (R-NC), Chairman of the House Freedom Caucus, answers questions while leaving a meeting of the House Republican caucus at the U.S. Capitol April 26, 2017 in Washington, DC.

    Conservative lawmakers have dampened GOP leaders' plans to prevent a government shutdown.

  • WASHINGTON— The Latest on Congress' battle over the budget:. Mark Meadows, R- N.C., said there are not enough Republican votes to push the GOP leaders' measure through the House this week with GOP- only support. House GOP leaders are looking to delay implementation of unpopular taxes on medical devices and generous employer-subsidized health care taxes as...

  • WASHINGTON— A deal between President Donald Trump and Congress to protect young immigrants from deportation remained distant Tuesday, as House Republicans leaders turned their attention to building support for a backup plan: a stopgap funding bill to stave off the threat of an election-year shutdown. The focus on a budget Plan B— another temporary measure...

  • ABUJA, Jan 16- Nigeria expects the rate of inflation to fall faster this year compared with 2017, banking on the economy and currency to stabilize, but activities leading up to presidential elections next year could stoke prices. Yemi Kale, head of the National Bureau of Statistics told Reuters the country met its inflation target last year as projected in a...

  • LONDON, Jan 16- Vitol will get 1.5 to 2 million barrels of crude per month from Algeria's state oil firm Sonatrach and deliver fuel to the country in exchange, in a rare such deal for the OPEC member, trade sources familiar with the matter told Reuters. The deal will kick off on Feb. 1 with the world's largest oil trader loading a 1 million barrel cargo, one of the sources...

  • NEW YORK— General Motors will take a $7 billion write-down in 2017 tied to the U.S. tax overhaul, but expects strong sales in North America and China to sustain its profit through 2018.. Shares of General Motors Co. rose 12 cents to close Tuesday at $44.19. In 2017, GM sold its Opel/ Vauxhall and GM Financial European units and cut business in parts of Africa and India.

  • President Donald Trump will deliver the closing address at the elite World Economic Forum conference in Davos next week, which focuses on "finding ways to reaffirm international cooperation on crucial shared interests," forum organizers announced Tuesday. Ten heads of state or government from Africa, nine from the Middle East and North Africa, and six from...