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Business Africa

  • JOHANNESBURG, Oct 1- Credit agency Moody's on Monday cut its rating on South African power utility Eskom, fixed-line operator Telkom SA and 12 municipalities, following a similar downgrade of Africa's top economy last week. Moody's made a similar cut to Telkom's rating, which was also lowered to Baa3, while 12 local governments had their long-term ratings cut.

  • SYDNEY, Oct 2- China's Hanlong Group has sought until mid-October to secure a financing commitment from China Development Bank to sew up a $1.4 billion takeover of Australia- based iron-ore miner Sundance Resources, adding to delays in the deal that has dragged on for a year.

  • *He mentions Qatar, Saudi Arabia, Turkey, US, France, Libya.

  • Irene Tse, who headed the North America operations of the Chief Investment Office, told the firm she is resigning to focus on "entrepreneurial ventures," according to a memo on Monday from Chief Operating Officer Matt Zames, a copy of which was obtained by Reuters.

  • KANO, Nigeria, Oct 1- The purported leader of Boko Haram, the Islamist sect in Nigeria, has denied government statements the group is involved in peace talks and has said its spokesman Abu Qaqa has been captured by security forces.

  • *He mentions Qatar, Saudi Arabia, Turkey, US, France, Libya.

  • NAIROBI, Oct 1- The United States on Monday called on Rwanda to publicly denounce rebels who have seized swathes of eastern Congo in an appeal that highlighted its frustration over Kigali's alleged role in its neighbour's conflict.

  • *New CEO, Robert Card, sees "a lot of potential growth areas". *La Presse reports SNC made "dubious payments" to win Montreal contract.

  • JOHANNESBURG, Oct 1- Offshore accounts bought more than 3 billion rand worth of local debt but sold 221 million rand in shares last week, data from the Johannesburg Stock Exchange. Below are tables outlining purchases, sales and net purchases for the week, for the same period in 2011, for the year-to-date and the year-to-date in 2011..

  • JOHANNESBURG, Oct 1- South African stocks ended sharply higher on the first day of the fourth quarter on Monday, rising nearly 2 percent as mining companies made a strong recovery from oversold levels following a spate of wildcat strikes.

  • Red Lobster is launching its biggest menu revamp in a decade on Oct. 15. We Specialize in Fresh Florida Seafood, but some of our Seafoods come from distant points of the compass, such as Maine, Maryland, Alaska, Peru, Chile and even South Africa to name but a few.

  • JOHANNESBURG, Oct 1- South African platinum producer Anglo American Platinum said on Monday it would fire all strikers who did not attend disciplinary hearings the following day after only 20 percent of staff showed up for work at its Rustenburg mines.

  • *La Presse reports SNC made "dubious payments" to win Montreal contract.

  • Under legislation that goes into effect on Nov. 1, Internet sites carrying content banned in Russia will be placed on a register, after which Internet providers will have one day to block access. Google Inc, the owner of YouTube, said it was ready to block access of the film to users in Russia once it received the court's decision, the RIA agency reported.

  • This is the face of new, high-end hotels in Africa. International hotel developers are planning nearly 40,000 new rooms across Africa in the coming years. Travel and tourism in Africa generates about $164 billion a year, 9 percent of the continent's total GDP, said David Scowsill, president and chief executive of World Travel& Tourism Council.

  • LONDON, Oct 1- Some of the world's biggest oil firms including Exxon Mobil and Shell are keen to play a part in developing Mozambique's huge gas fields, an executive from the country's national oil company said on Monday. "We are starting to see Shell in Mozambique, yes, not only Shell, all companies, even Exxon Mobil, Chevron.

  • MILAN, Oct 1- Italian energy group Edison said on Monday it had won a dispute with Eni to review the price of its long-term gas contract from Libya, its second gas arbitration victory in less than a month. In September Edison, which is owned by France's EDF, won in arbitration a 450 million euro discount on its liquefied natural gas supplies from Qatar's Rasgas.

  • *Platinum firm; unrest in South Africa continues By Amanda Cooper. Spot gold was up 0.9 percent on the day at $1,785.80 an ounce at 1445 GMT, having fallen earlier by as much as 0.4 percent to a low of $1,762.94, before a flurry of fund-related buying saw nearly 4.0 million ounces change hands on the futures market in a matter of moments, traders said.

  • NAIROBI, Oct 1- Kenya wants licensed oil and gas explorers to speed up their work to meet the terms of their contracts, and may invoke its right to cash in their guarantees if they fail to do so, a senior Ministry of Energy official said.

  • He will be based in London. Willett joins from Royal Bank of Scotland, where most recently he was chairman of corporate finance for Europe, the Middle East and Africa. A top Morgan Stanley broker, Jonathan Madrigano, who last year managed about $2 billion in client assets left the company's brokerage division on Friday to join J.P. Morgan Securities.