×

Business Africa

  • *U.S. jobless rate tumbles to near-4 year low* Gold briefly goes sub- $1,780 before steadying* Data not seen altering U.S. employment trajectory By Clare Hutchison.

  • *Ivory Coast pushing power infrastructure upgrades. ABIDJAN, Oct 5- Construction will begin on a 275- megawatt hydro power station in Ivory Coast by year-end supported by a $556 million low-interest loan from China's Export-Import Bank, a top energy ministry official said.

  • RABAT, Oct 5- Morocco's government expects the economy to expand by 4.5 percent in 2013, gaining pace after projected growth of 3.4 percent this year but its budget deficit should decline only marginally, official media reported on Friday. Morocco has been hit by drought and the economic slowdown in the European Union, its main trading partner.

  • JOHANNESBURG, Oct 5- The world's largest platinum producer, Anglo American Platinum, fired 12,000 workers taking part in a three-week illegal strike on Friday, following through on tough talk over wildcat stoppages in South African mines.

  • Oct 5- Fitch Ratings has affirmed Uganda's Long-term foreign and local currency Issuer Default Ratings at' B' with a Stable Outlook and Short-term foreign currency IDR at' B'. Uganda's ratings balance its track record of macroeconomic prudence against its weak business climate and low per capita GDP.

  • *Govt faces 40 bln shilling funding shortfall. NAIROBI, Oct 5- Kenya has approved new taxes targeting oil and mining firms and mobile phone-based money transfer services to help plug a growing funding gap, though the move could potentially scare off foreign investors.

  • JOHANNESBURG, Oct 5- Shares in Anglo American Platinum rose more than 3 percent on Friday after the company said it had dismissed around 12,000 illegally striking workers at its Rustenburg operations in South Africa.

  • JOHANNESBURG, Oct 5- World no. 1 platinum producer Anglo American Platinum said on Friday it had fired 12,000 workers taking part in a three-week illegal strike, following through on tough talk against the wildcat stoppages in South Africa's mines.

  • RABAT, Morocco-- Morocco on Friday revoked the accreditation of a journalist working for the French news agency AFP after he wrote an article linking the palace to a political party competing in by-elections. Morocco's powerful king, who holds most of the power in the country, is considered to operate above party politics.

  • CAPE TOWN, Oct 5- A strike by more than 20,000 truck drivers in South Africa is costing the freight industry 1.2 billion rand in lost revenue each week, an industry body said on Friday.

  • Pick n Pay, which named former UK head of Tesco, Richard Brasher, as its new chief executive this week, is down 6.16 percent at 43.99 rand. Shares of Anglo American and other resource companies lead the gainers on the benchmark index as investors chase bargains in a sector battered in recent days by a wave of wildcat strikes.

  • Oct 05- In a report published today, titled "Outlook Stable For European Forest Products Companies, Despite Soft Paper Markets And Economic Headwinds", Standard& Poor's Ratings Services said that it anticipates broadly stable credit trends this year for the 10 forest products companies it rates in Europe, the Middle East, and Africa.

  • RABAT, Oct 5- The Moroccan government said it was withdrawing accreditation from an Agence France-Presse correspondent who wrote an article casting doubt on the monarchy's neutrality in an election.

  • JOHANNESBURG, Oct 5- Shell said on Friday it could not honour fuel delivery contracts around Johannesburg because of a two-week truckers' strike and police shot dead a striking miner, taking the death toll in two months of South African labour unrest to 48..

  • LONDON, Oct 5- South Africa's rand plunged 2 percent on Friday to just shy of a three-year low against the dollar as labour unrest swept the country, while Turkish assets stabilised after the previous day's sell-off caused by political concerns.

  • JOHANNESBURG, Oct 5- Shell said on Friday it could not honour fuel delivery contracts around Johannesburg because of a two-week truckers' strike and police shot dead a striking miner, taking the death toll in two months of South African labour unrest to 48..

  • Shares of Anglo American and other resource companies lead the gainers on the benchmark index as investors chase bargains in a sector battered in recent days by a wave of wildcat strikes. Anglo shares rise 3.25 percent to 257.81 rand while shares in platinum producers add more than 2 percent even as labour unrest continues to close operations.

  • PORT LOUIS, Oct 5- The weighted average yield on Mauritius' 364- day Treasury bills fell to 3.57 percent at auction on Friday from 3.91 percent at a previous sale on September 21, the central bank said. The Bank of Mauritius accepted bids for 200 million rupees worth of bills from the 400 million on offer.

  • *Gold hits highest since Nov 2011; just shy of $1,800* Coming up: U.S. non-farm payrolls, Sept; 1230 GMT By Clare Hutchison.

  • JOHANNESBURG, Oct 5- A transport workers strike in South Africa has affected production at General Motors'. manufacturing plant in the east coast city of Port Elizabeth, the company said on Friday.