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Ghana's inflation rises to 18,4% in June

11th July 2008 Ghana's inflation rose to 18,4 percent in June from 16,9 percent in May, data showed on Friday, reflecting mounting costs of services, transport and food in the West African cocoa and gold producer. The Ghana Statistical Service (GSS) said there was a risk of further increases unless the global... 

G8 result bare minimum for Africa - Annan

11th July 2008 Leaders of the Group of Eight rich nations who met in Japan this week did the bare minimum for Africa and must not be allowed to backslide from even that as they have in the past, former UN head Kofi Annan said. On climate change, aid, food prices and trade the G8 had warm words but made scant... 

Gold extends gains on Iran-West tensions

10th July 2008 Gold rose further on Thursday as safe-haven buying persisted after Iran test-fired missiles, which escalate tension with West over Tehran's nuclear programme. Gold has bounced more than 8 percent since falling to a six-week low of $856,80 an ounce in mid-June. Dealers saw buying from India, but... 

Gold rebounds on Iran missile test, off two-week low

9th July 2008 Gold regained ground on Wednesday as speculators resurfaced on news that Iran had test-fired nine long- and medium-range missiles, lifting the metal's safe-haven appeal in times of uncertainty. State media said Iran had test fired missiles, including one which it had previously said could travel... 

Gold Fields faces mounting mine deaths

3rd July 2008 Gold Fields has suffered about a quarter of South Africa's 85 mine fatalities so far this year, a senior official said. He could not establish whether Gold Fields had the worst record among its peers. Deaths in South African mines fell 22 percent to 85 in the first half of this year compared to... 

Dubai World plans new investment projects in Africa

27th June 2008 State-owned Dubai World is targeting new projects in six African countries as part of its investment drive on the continent, an official said on Friday. Dubai World's largest holding company manages and supervises a portfolio of businesses and projects for the Dubai government across 100... 

DRC river power project to boost region

26th June 2008 A joint-venture company from five Southern African Development Community (SADC) countries said on Thursday one of its major projects on the Congo river would herald an economic renaissance in Africa. Western Power Corridor's (Westcor) chief executive Pat Naidoo said thousands of megawatts of... 

May inflation hits new five-and-a-half year high

25th June 2008 South Africa's targeted annual CPIX inflation quickened to a new five-and-a-half year high in May, data showed on Wednesday, slightly above forecasts and hardening the case for higher interest rates in August. Statistics South Africa said CPIX accelerated to 10,9 percent year-on-year from 10,4... 

Oger seeks talks with buyer of Telkom

24th June 2008 Dubai-based Oger Telecom wants to negotiate its new offer for South Africa's largest telecom operator Telkom, with the company's potential buyers. A consortium led by Mvelaphanda Group's holding company Mvelaphanda Holdings said earlier this month it was considering making an offer for Telkom,... 

SA coal wagons derail, export line cut

23rd June 2008 South Africa's Transnet Freight Rail said on Monday that 26 wagons of export coal derailed on Saturday morning, damaging the country's coal line, which links mines to the Richard's Bay Coal Terminal (RBCT). "Twenty six wagons carrying export coal were derailed out of a 100-wagon train," Sandile... 

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