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South Africa Sept coal exports rise to 5,36Mt

5th October 2010 South Africa's coal exports rose to 5,36-million tons in September from 4,16-million tons in the same month last year, boosted by higher deliveries by logistics group Transnet, Richards Bay Coal Terminal (RBCT) data showed. The figure compares with 5,45-million tons shipped in August. Stocks at... 

Egypt gets $270m from World Bank for solar plant

5th October 2010 Egypt has secured $270-million from the World Bank to fund a solar power plant, the state news agency MENA said on Tuesday. Egypt, which has about 25 000 MW of power capacity, has suffered repeated outages this year and plans to spend $100-120 billion to triple capacity by 2027.  

Vimpelcom expected to buy Orascom stake, Wind

4th October 2010 Vimpelcom is set to unveil a $6,5-billion deal to buy control of Egypt's Orascom Telecom and Italy's Wind, sources said on Monday, a move that could create the world's fifth-largest mobile operator. Sources close to the deal said an announcement could be made as early as Monday, but analysts... 

AECI targets Brazil, SE Asia

1st October 2010 AECI, a South African maker of industrial explosives and chemicals, is looking for acquistions in Brazil and targeting expansion in Southeast Asia as its home market suffers from the stronger rand, the company's chief executive said on Friday. "In Brazil we are looking for acquisitions," Graham... 

Clover plans stock market listing

1st October 2010 South African dairy foods maker Clover plans to list on the Johannesburg Stock Exchange to raise funds for expansion, it said on Friday. Clover, whose brands include Inkomazi and Yogi Sip, said in a statement its board approved the listing last month to help raise 337 million rand.  

Nokia sees mobile surge in Africa

30th September 2010 Nokia expects to see a surge in mobile usage in Africa over the next three or four years, giving it access to more new customers over the period than in China and India. "We are going to have in Africa by 2014 more than 300-million new subscribers; that's more than in India and China together,"... 

CPI slows further, room for rate cut

29th September 2010 South Africa's consumer inflation slowed a little more than expected to a fresh four-year low in August, official data showed on Wednesday, leaving the door open for another interest rate cut. Statistics South Africa said consumer inflation slowed to 3,5% year-on-year in August from 3,7% in... 

Mozambique refinery close to funding – CEO

29th September 2010 Mozambique's Oilmoz, which is developing a 350 000 barrel per day refinery, expects to reach a funding agreement with European energy investors before the end of the year, the company's chief executive said on Tuesday. The southern African nation, which has huge gas reserves, is one of several... 

Solidarity signs wage deal with Northam

28th September 2010 South Africa's Solidarity union said on Tuesday it had signed a wage deal to end its strike with Northam Platinum but a separate and larger union is still on a strike that has slashed the firm's output. Solidarity said in a statement it had agreed to an 8,5% rise in wages, more than double the... 

Ghana central bank chief sees downward inflation trend

27th September 2010 Inflation expectations in Ghana will trend lower for the rest of the year at least, Bank of Ghana Governor Kwesi Amissah-Arthur forecast on Monday. "Inflation expectations are firmly anchored downwards, at least for the rest of this year," Amissah-Arthur told an event in Accra.  


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