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Business Africa

  • LAGOS, Nigeria-- The United Kingdom's business secretary said Monday that a bill to overhaul Nigeria's oil industry should be focused on what helps the West African nation, rather than what benefits the foreign oil companies working there.

  • *Iran currency down a third in 2 weeks. JOHANNESBURG, Oct 8- The impact of Iran's currency slide has reached beyond its borders, hitting shares of MTN Group, the South African mobile operator that derives nearly a tenth of its revenue from the Middle Eastern country.

  • JOHANNESBURG, Oct 8- Workers at Xstrata's Eland platinum mine in South Africa have embarked on an illegal strike, leaving the plant operating on skeleton staff, a spokesman said on Monday, the latest in a wave of wildcat walkouts in the platinum sector.

  • JOHANNESBURG, Oct 8- South Africa's union of local government workers has filed notice to embark on a national strike, a spokesman said on Monday, a sign that crippling labour unrest in Africa's top economy is widening into the public sector.

  • NAIROBI, Oct 8- Kenya's central bank said that its official usable foreign exchange reserves. to $5.159 billion in the week to Friday from $5.163 billion the previous week. Here are highlights from its latest weekly bulletin:.

  • LOS ANGELES-- Rumbling into its final four weeks, the presidential campaign is playing out on both coasts and multiple fronts, with Republican Mitt Romney seeking stature on foreign affairs and President Barack Obama raising political cash by the millions.

  • JOHANNESBURG, Oct 8- Kumba Iron Ore is losing 120,000 tonnes of finished product per day due to an illegal strike at its Sishen mine in South Africa, the producer of the steel-making ingredient said on Monday.

  • But the speech in many ways was also as much about style as it was about substance, and the 61- year-old Morsi, the first freely elected president in Egypt's history, used his address to project the image of an energetic leader in touch with the needs of the people.

  • JOHANNESBURG, Oct 8- PSG Group Ltd:. *Says interim dividend per share increased by 26,9% to 33 cents. *Says recurring headline earnings per share increased by 19,9% to 162,5 cents.

  • NEW YORK, Oct 8- At 68, Barbara Miller Elegbede is living proof that flower children need not grow up. A self-described hippie, she attended a San Francisco college at psychedelia's height and remembers friends constantly crashing on the couch of her apartment, just a block away from Janis Joplin's pad in the hip Castro neighborhood.

  • ATHENS, Oct 8- The Greek manager of a Bahamas- flagged tanker carrying more than 32,000 metric tonnes of gasoline reported the vessel missing on Monday after it left Abidjan in the Ivory Coast unexpectedly in the early hours of Saturday. The tanker Orfeas, crewed by two Greeks and 22 Filipinos, had been expected to discharge its cargo at Abidjan.

  • Oct 08-=============================================================================== Summary analysis-- PTT Exploration and Production Public Co. Ltd. 08- Oct-2012=============================================================================== CREDIT RATING: BBB+/ Negative/-- Country: Thailand Primary SIC: Oil and gas exploration services Mult. CUSIP6: 69364 V=============================================================================== Credit Rating History: Local currency Foreign currency 26- Aug-2004 BBB+/-- BBB+/-- 08- Oct-2003 BBB+/-- BBB/--=============================================================================== Rationale.

  • LONDON, Oct 8- The South African rand plunged to a new 3-1/ 2 year low against the dollar as the worst bout of labour unrest since the end of apartheid rattles the market, while growth worries weighed on broader emerging markets. The rand tumbled 2.4 percent, extending losses chalked up on Friday when Anglo American Platinum.

  • Oct 08- In its published report titled "Banking Industry Country Risk Assessment: Czech Republic," Standard& Poor's Ratings Services said that the Czech banking sector's main strengths are its solid core customer deposit base, industry stability and strong risk-adjusted profitability, and the country's prudent macroeconomic policies and sound government finances.

  • LONDON, Oct 8- The chief executive of miner Aquarius Platinum, industry veteran Stuart Murray, has resigned with immediate effect after a decade at the helm, becoming the third boss of a major platinum producer to step down so far this year.

  • TUNIS, Oct 8- Tunisia, which is seeing a pick-up in tourism and other economic sectors as it gradually recovers from last year's political turmoil, expects to cut its budget deficit to below 6 percent of GDP next year as economic growth accelerates.

  • NAIROBI, Oct 8- Kenya's central bank said on Monday it was in the repurchase agreements market to mop up 7 billion shillings in excess liquidity. The central bank has been actively soaking up liquidity using repos most of this year, stabilising the shilling after a dramatic slide last year that caused the central bank to adopt a tight monetary policy stance.

  • STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 0832 GMT 08 Oct12- Petmin rises as illegal strike ends-----------------------------------------------------. Shares in Petmin rise nearly 4 percent after the coal producer says an illegal strike by around 350 workers at its Somkhele anthracite mine in South Africa has ended and operations were returning to normal.

  • Johannesburg- listed shares of Aquarius Platinum fall nearly 7 percent after the world's fourth-largest platinum miner says its chief executive has resigned after more than a decade at the company. By 0826 GMT, the stock is down 6.9 percent at 6.20 rand, compared with a 0.63 percent fall in the JSE All-Share index.

  • STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 0808 GMT 08 Oct12- Cipla Medpro up after CEO resigns---------------------------------------------------. Shares of South African generic drug maker Cipla Medpro jump 4.6 percent to 7.07 rand after the company says Chief Executive Jerome Smith has stepped down, ending months of speculation about his future.