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Business Africa

  • Lawyers at the Supreme Court in Nairobi, Kenya, on November 14, 2017, ahead of a hearing on October 26's repeat presidential election.

    The East African economic hub has seen election-related unrest politicize its economy.

  • Angola's new president, Joao Lourenco, on Wednesday dismissed dos Santos, the daughter of his predecessor, as head of the state oil company in a dramatic move against the family of the former president Jose Eduardo dos Santos. Reis also said that Sonae, which on Wednesday posted a healthy 7 percent rise in nine-month sales to nearly 4.12 billion euros, will now seek...

  • BEIJING, Nov 16- China said on Thursday its "friendly policy" towards Zimbabwe would not change, after the military said it had seized power and was holding President Robert Mugabe and his family safe while targeting "criminals". China is paying close attention to the situation in Zimbabwe and hoped for stability and a peaceful, "appropriate" resolution, foreign...

  • DJIBOUTI, Nov 16- China's POLY-GCL Petroleum Group Holdings Ltd has signed a memorandum of understanding to invest $4 billion in a natural gas project in the tiny Horn of African nation of Djibouti. Djibouti, with a population of less than one million, has long punched above its weight due to its strategic location on the Gulf of Aden, one of the world's busiest...

  • RABAT, Morocco— France's prime minister launched a mission Wednesday to reinvigorate trade and cooperation with Morocco, which has steadily positioned itself as a regional economic powerhouse focused on Africa instead of its former colonial ruler. Morocco considers the disputed territory its "southern provinces," but the Polisario Front independence...

  • Whole of south Africa looking at Zimbabwe with trepidation

    CNBC Africa's Chris Bishop discusses the military takeover in Zimbabwe and how it could impact politics beyond the country.

  • NEW YORK— A painting of Christ by the Renaissance master Leonardo da Vinci sold for a record $450 million at auction on Wednesday, smashing previous records for artworks sold at auction or privately. The highest price paid for a work of art at auction had been $179 million, for Pablo Picasso's painting "Women of Algiers" in May 2015, also at Christie's in New York.

  • If Meugabe's policies continue Zimbabwe will continue on sub-par growth

    Stuart Culverhouse, chief economist and head of fixed income research at Exotix Capital, discusses the knock-on effects of a military takeover in Zimbabwe.

  • JAKARTA- Indonesia Central Bank holds board of governors meeting. **Zagreb- Croatia Finance Minister Zdravko Maric will meet an association of Croatia export-oriented firms to talk about the policy plans for 2018- 0900 GMT. SYDNEY- Panel participation by Michele Bullock, Reserve Bank of Australia's assistant governor at the Women in Payments Symposium, Sydney...

  • HOUSTON, Nov 15- Libya's National Oil Corp plans to open a U.S. procurement office, its first international facility since a 2011 revolt left the country in disarray, to expand suppliers and convince the Trump administration to support its oil sector. "It is very important to us," Sanalla said in a telephone interview from Washington. Production partners including...

  • LIMA, Nov 15- Peruvian President Pedro Pablo Kuczynski said on Wednesday claims he had worked as a consultant for Brazilian construction company Odebrecht SA, which is embroiled in an international bribery scandal, were false. Odebrecht SA acknowledged in a plea deal with U.S. and Brazilian prosecutors a year ago that it paid $29 million in bribes to officials...

  • LONDON, Nov 15- International investors hoping to bet on economic revival in Zimbabwe if the era long-term ruler Robert Mugabe is over face two obstacles: it's difficult to put money into the country's markets and almost impossible to get it back out. Within 24 hours of the military seizing control in Harare, investment firms say their phones have been ringing...

  • LONDON, Nov 15- Carlyle Group, the world's largest private equity firm, is raising up to $1 billion for a new fund to invest in oil and gas outside the United States as a stronger outlook for oil prices rekindles investor appetite, banking sources said. CIEP managing directors Bob Maguire and Marcel van Poecke met investors during a roadshow in the United States in...

  • JERUSALEM, Nov 15- An Israeli court on Wednesday ruled that billionaire businessman Beny Steinmetz will be allowed to leave the country despite an investigation into possible bribery and corruption in Africa linked to his mining company, BSGR Resources. The court ruled that Steinmetz could now leave Israel but is not allowed to travel to Africa and all but six...

  • LONDON— Venice is planning to divert massive cruise liners. Barcelona has cracked down on apartment rentals. "This is a wake-up call," Taleb Rifai, secretary general of the United Nations' World Tourism Organization, told tourism ministers and industry executives last week at the World Travel Market in London.

  • JOHANNESBURG— Angola's new leader has removed the daughter of former President Jose Eduardo dos Santos as chair of the state-owned oil company, the government announced Wednesday, in a surprise move that appeared to assert independence from one of Africa's longest-ruling families. Isabel dos Santos has been reported to be Africa's richest woman.

  • From Ethiopia to South Africa, millions of people are getting access to electricity for the first time as the continent turns to solar, wind and hydropower projects to boost generation capacity. "A big chunk of this is hydro because of Ethiopia, but then you have solar... in South Africa, Nigeria and Namibia and wind in South Africa and Ethiopia as well," said Paolo...

  • LONDON, Nov 15- As the debate over wealth inequality rages, a paradox is expected to play out over the next five years: the share of people in the lowest strata will decline, while the wealth of the world's richest will grow faster than any other group. According to the Swiss bank's projections, global wealth will rise by more than a fifth to $341 trillion in 2022 from...

  • LONDON, Nov 15- Carlyle Group, the world's largest private equity firm, is raising $1 billion for a new fund to invest in oil and gas outside the United States as a stronger outlook for oil prices rekindles investor appetite, banking sources told Reuters. CIEP managing directors Bob Maguire and Marcel van Poecke met investors during a roadshow in the United States...

  • VATICAN CITY— Pope Francis got the keys to a fancy new Lamborghini on Wednesday— but he won't be tooling around the Vatican gardens in it. Instead, the special edition Huracan will be auctioned off by Sotheby's, with the proceeds going to charities including one aimed at helping rebuild Christian communities in Iraq that were devastated by the Islamic State...