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Rezidor Group targets 60% jump in Africa hotels by 2020

23rd May 2017 Sweden's Rezidor Group plans to increase by 60% the number of hotels it operates in sub-Saharan Africa to 120 in the next four years to take advantage of growing business travel, its regional head said on Tuesday. The company has been focusing on Africa due to growing demand for well-known... 

Company climate risk disclosure could become mandatory in a few years

23rd May 2017 Companies' disclosure of risks to their business from climate change could become mandatory in a few years as investor pressure gathers pace, climate finance experts said on Tuesday. Investors have urged companies, particularly those operating in the oil, gas and coal sectors, to disclose the... 

South Africa's 2017 maize crop seen almost doubling to record harvest

23rd May 2017 South African farmers are expected to reap a record 14.73-million tonnes of maize this season with current harvests indicating robust yields because of good rains, a Reuters poll of five traders and market analysts showed on Tuesday. The government's Crop Estimates Committee (CEC), which will... 

'Massive' load-shedding looms in Zim as Zesa fails to settle $80m debt to Eskom

23rd May 2017 "Massive" load-shedding could begin as early as next week in Zimbabwe - because the cash-strapped authorities still haven't settled an $80-million debt to Eskom, the Herald reports. The State-run Zimbabwe Electricity Supply Authority (Zesa) has been unable to keep up with a payment plan agreed... 

Sasol says maintains output after refinery blast

23rd May 2017 South African petrochemicals group Sasol said on Tuesday it had enough oil reserves to meet market requirements following an explosion at its 108 000 bbl/d Natref refinery on Monday. The blast at the country's only inland refinery, a venture between Sasol and a South African unit of France's... 

Glencore predicts Opec insulated from electric vehicle impact

23rd May 2017 Opec nations that deliver some of the lowest cost production will be relatively insulated from an early peak in oil demand caused by any faster-than-expected roll-out of electric vehicles, Glencore's chairman said on Monday. Members of the Organization of the Petroleum Exporting Countries meet... 

Opec heads towards supply cut extension as Saudi signals most on board

22nd May 2017 Opec and other oil producers are on course to agree an extension of supply cuts at a meeting on Thursday, with Saudi Arabia saying most participants are on board with the plan to rein in a global supply glut. Saudi Arabia's energy minister said on Sunday that extending the supply cuts by a... 

LafargeHolcim hires Sika boss as next CEO

22nd May 2017 LafargeHolcim has hired Sika boss Jan Jenisch to take over as CE at the Swiss-French building materials giant, whose previous CEO quit after the company made payments to armed groups in Syria. Jenisch, 50, has been the CEO of adhesives maker Sika since January 2012. Paul Schuler, Sika's regional... 

Adani defers Australian coal project investment decision

22nd May 2017 India's Adani Enterprises on Monday deferred a final investment decision on its long-delayed Australian Carmichael coal project as the Queensland state government has yet to sign off on a royalty deal for the mine. The company had been planning to make a final investment decision (FID) on the... 

Natref refinery blast injures 11, some operations halted

22nd May 2017 A blast on Monday at South Africa's Natref oil refinery injured 11 people and forced the shutdown of operations close to the 108 000 bbl/d facility but production at the main refinery continued, Sasol said. Sasol reported on its website that the explosion happened at about 07:45 at the country's... 


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