Business News Africa

  • *Sudan has international debt of about $62 billion. WASHINGTON, Oct 22- Sudan's top financial official believes it is "just a question of time" before his country is removed from the U.S. state-sponsored terrorism list. Finance Minister Ibrahim Elbadawi on Tuesday told an event hosted by the Atlantic Council think tank the listing posed a "crippling impediment" to...

  • *Asia very strong, Americas weak. BRUSSELS, Oct 23- Heineken, the world's second-largest brewer, forecast profit this year would be at the bottom end of its previous guidance after an unexpected dip in third-quarter sales in the Americas partly offset strong growth in Asia. Otherwise, the Amsterdam- based brewer reported a mixed bag of beer sales figures, with a...

  • *Sudan has international debt of about $62 billion. WASHINGTON, Oct 22- Sudan's top financial official said on Tuesday he believed it was "just a question of time" before his country was removed from the U.S. state-sponsored terrorism list. Finance Minister Ibrahim Elbadawi told an event hosted by the Atlantic Council think tank that the listing posed a "crippling...

  • PARIS, Oct 22- The thick concrete walls of a long-abandonned World War Two German submarine base in Marseille, southern France, are set to find a new purpose: keeping banks of computer servers safe and cool. But this was an opportunity and Marseille is a major telecoms, cloud and digital hub between Europe, Africa, the Middle-East and Asia, "Interxion France director...

  • NEW DELHI, Oct 22- Uber pinned its growth over the next decade on developing markets like India on Tuesday, despite the problems it has faced in establishing itself in China and Southeast Asia. "If I look at Uber's growth over the next 10 years it's going to be defined by markets like India, Africa, the Middle East more so than the developed markets such as the U.S. and...

  • JOHANNESBURG, Oct 22- Volkswagen will decide early next year whether to roll out its new ride-hailing business in Ghana, where the German automaker will soon begin assembling cars, the head of the company's African division said. Volkswagen launched its app-driven "Move" service last December, using Rwanda's capital Kigali as the initial testing ground for a...

  • SINGAPORE/ SEOUL, Oct 22- Equity analysts have cut their earnings forecasts for Asia's oil refiners as a surge in oil tanker freight rates and crude premiums offset an expected boost in refining margins. Spot market freight rates for crude cargoes from the Middle East to Asia recently surged to a record following U.S. sanctions on Chinese tanker companies on...

  • JOHANNESBURG, Oct 22- Armed men invaded a metallurgical plant owned by South Africa's DRDGOLD on Monday night, killing the gold miner's chief security officer and stealing an estimated 17 kg of gold, the company said. DRDGOLD's chief security officer Bart Coetzee was fatally wounded in an exchange of gunfire during the attack at the Ergo plant in Brakpan, about...

  • JOHANNESBURG, Oct 22- South African supermarket retailer Pick n Pay Stores Ltd posted a 9.5% rise in first-half earnings on Tuesday, with strong growth in its core domestic operations outweighing challenges in Zambia and Zimbabwe. Reported HEPS, which includes the impact of hyperinflation accounting in Zimbabwe, rose 17.5%. "At the core of our result is a very...

  • HOUSTON, Oct 21- The former chief of Chevron Corp's Latin American operations is moving to raise $500 million from big financial firms to invest in Venezuela once U.S. sanctions are eventually lifted, confident that political change will come and that foreign investment will be needed to boost sagging oil output. Amos Global, which includes Moshiri and two...

  • A Lion Air 737 MAX jet crashed into the Java Sea shortly after take-off from Jakarta on Oct. 29, 2018, killing all 189 people on board. The families of victims of the first crash will be briefed before the report into the loss of Lion Air flight 610 is made public, Indonesian National Transportation Safety Commission press officer Anggo Anurogo told reporters on...

  • Oct 18- Schlumberger NV's new chief executive wielded an axe to the company's asset-heavy businesses, taking a $12.7 billion charge in the face of weaker shale drilling and sliding profits. While revenue, at $8.5 billion, was flat compared with the same period a year earlier, sales rose in all regions except for North America. Schlumberger's writedowns included...

  • LONDON/ NAIROBI, Oct 18- Angola's kwanza tumbled to a record low on Friday as the central bank sought to close a widening gap between official and black market rates in an overhaul of the southern African country's foreign exchange regime. Africas second-largest oil producer was pushed into an economic crisis by the sharp tumble in oil prices in mid-2014, which...

  • Oct 18- Schlumberger NV's new chief executive wielded an axe to the company's asset-heavy businesses, taking a $12.7 billion charge in the face of weaker shale drilling and sliding profits. While revenue at $8.5 billion was flat compared to the same period a year earlier, sales rose in all regions except for North America. Schlumberger's writedowns included...

  • PRETORIA, Oct 18- South Africa's plans to boost electricity generation over the next decade will be a mix of renewable energy and coal power, Energy Minister Gwede Mantashe said on Friday, as nationwide power cuts entered a third day. South Africa's power generation problems have resurfaced this week with the first power cuts in around seven months, underlining...

  • SINGAPORE, Oct 18- Copper prices rose on Friday as dismal economic growth data from China raised hopes of more stimulus measures, while expectations of a soft Brexit and easing U.S.- China trade tensions lifted sentiment. Copper prices are widely used as a gauge of economic health, which has been hurt by the prolonged trade war between the United States and China,...

  • Oct 17- Barrick Gold Corp, fell short of analysts' estimates for third-quarter gold production on Thursday, as lower output at its North Mara mine in Tanzania offset gains from its Randgold buy and the Nevada Gold Mines joint venture. Barrick gained from its Nevada Gold Mines joint venture with Newmont Goldcorp Corp that the company estimated to have produced...

  • JOHANNESBURG, Oct 17- South Africa was hit by power cuts for a second day on Thursday as state utility Eskom said a number of generating units were still out of service and some would not be back up and running for a few days. The power cuts also affected supplies to Zimbabwe, where Eskom exports up to 400 MW daily, the country's electricity utility ZESA Holdings said...

  • JOHANNESBURG, Oct 17- South Africa has started discussions with power producers to try to get cheaper electricity from some older renewable energy projects and give the economy a boost, several participants in the talks say. Business confidence is weak after corruption scandals under former president Jacob Zuma. Climate activists are wary of any moves that...

  • Oct 16- Netflix Inc added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and Apple prepare to ramp up the streaming video wars. Shares of Netflix rose 9.2% in after-hours trading on Wednesday to $312.69. "Netflix results were good enough that they...