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Africa blocs plan trade regime harmonisation

15th May 2008 Three African trade blocs plan to harmonise trade policies so Africa can compete more effectively on world markets. Erastus Mwencha, secretary general of the Common Market for Eastern and Southern Africa (COMESA), said on Thursday his group would be meeting the East African Community (EAC) and... 

Bharti may seek MTN share-swap to avoid bidding war

15th May 2008 Bharti Airtel, India's leading mobile operator, may seek a merger or share swap with MTN Group to try to avoid a bidding war for the South African phone firm, analysts and media reports say. The reports helped push up Bharti shares on Thursday after the stock had fallen sharply last week on... 

Oil recovers above $124 after fall on US stocks

15th May 2008 Oil edged up on Thursday, recovering after rising US distillates stocks and Iran's reassurances that it would not cut crude exports pushed prices down a day earlier. US light crude for June delivery was up 29 cents a barrel at $124,51 by 06:35 GMT, after having settled down $1,58 at... 

African mobile phone firms mull solar for base stations

15th May 2008 Steeply rising energy prices should soon drive African mobile phone operators to power their base stations with alternative energy sources such as solar or wind, industry executives said. Africa burns more than 30-million litres of diesel a year to power mobile phone base stations, according to... 

Turkey approved as African Development Bank member

14th May 2008 Turkey was approved as the 25th non-regional member of the African Development Bank at the bank's annual meeting on Wednesday, the AfDB said in a statement. It said the AfDB board of directors had in March considered the application as well as a special capital increase required to accept... 

African Development Bank lends Eskom $500m

14th May 2008 The African Development Bank has lent $500-million to fund South African power utility Eskom's multi-billion dollar expansion project, and to help the power-starved country achieve 6% economic growth from 2010, the bank said on Wednesday. State-owned Eskom is battling to shore up... 

India's Bharti says MTN talks still exploratory

13th May 2008 India's Bharti Airtel Ltd on Tuesday said its talks for South African mobile operator MTN were still "exploratory" and there was no requirement to make a bid. Bharti, valued at about $37-billion, is the leading mobile phone operator in India, the second-largest market for wireless... 

Africa enjoying private equity funds boom - OECD

13th May 2008 Private equity funds in Africa are soaring, the Organisation for Economic Co-Operation and Development (OECD) said on Tuesday, describing the development as the "African investment story to watch". As part of its 2008 African Economic Outlook, the OECD said funds raised for private... 

South Africa's March gold output falls 10,9%

13th May 2008 South African gold output fell 10,9% in volume terms, while overall mineral production declined 17,2% in March compared with the same month in the previous year, official data showed on Tuesday. Production of nongold minerals fell by 18,1 percent in March, Statistics South Africa added. 

China among interested investors for Cameroon port

12th May 2008 Companies from China, Canada and Europe have expressed interest in investing in the building of a $655-million multi-purpose deep seaport in south Cameroon that will serve major mineral export projects, the government said. The plan for the port to be located at Grand Batanga, 10 km south of... 


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