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Reuters

Zimbabwe renames main airport after Mugabe, plans $153m upgrade

9th November 2017 Zimbabwe will upgrade its main airport at a cost of $153-million in an effort to attract more visitors, state media reported on Thursday, as authorities renamed the airport in honour of 93-year-old President Robert Mugabe. Harare International Airport will from Thursday be known as Robert Mugabe... 

Platinum miner Lonmin adds more security due to protests around mines

9th November 2017 South African-focused Lonmin said workers employed by its community shareholder Bapo Ba Mogale were protesting around the platinum miner's operations, leading to delays in production at two shafts. "We are experiencing minimal challenges as some buses to our E2 and E3 shafts are running later... 

India gold demand seen falling to lowest in 8 years in 2017 - WGC

9th November 2017 India's gold consumption is likely to drop to its lowest in eight years in 2017, hit by government moves to make bullion trading more transparent and by faltering demand from some rural areas, the World Gold Council (WGC) said on Thursday. Evidence of weaker appetite in a country where gold is... 

EU antitrust regulators to investigate ArcelorMittal-Ilva deal

9th November 2017 EU antitrust regulators will investigate whether ArcelorMittal's proposed purchase of Italian steel plant Ilva will lead to price hikes, a move likely to force the steelmaker to offer more concessions to address competition concerns. ArcelorMittal, the world's largest steelmaker, reached a... 

Large oil traders escape EU's MIFID II trading rules, for now

9th November 2017 Less than two months before strict European Union rules on derivatives come into force, most large oil traders have persuaded regulators to exempt them for now from limits on the positions they can hold, arguing they are not speculators. The EU's revamped Markets in Financial Instruments... 

NUM plans coal sector strike

9th November 2017 South Africa's National Union of Mineworkers (NUM) plans a coal sector strike after wage negotiations with mining firms became deadlocked, it said on Wednesday, without giving a date for industrial action. NUM spokesman Livhuwani Mammburu said the union had been granted a strike certificate by a... 

Nigeria's Senate approves report exonerating MTN Nigeria over fund transfers

8th November 2017 Nigeria's Senate approved on Wednesday a report largely exonerating South African telecoms company MTN Group Ltd's Nigerian unit, after the business was accused of illegally repatriating $14 billion to its parent. But the Senate report also asked Nigeria's central bank to sanction Stanbic IBTC... 

Steelmaker Voestalpine upbeat on global economic upswing

8th November 2017 Austrian speciality steelmaker Voestalpine expects sales and earnings to rise further in the first half of next year, supported by a global economic upswing, its chief executive said on Wednesday. After reporting an expected 27 percent increase in second-quarter earnings before interest and taxes... 

Cities urged to help cut global supply chain emissions

8th November 2017 Cities should try to slash the planet-warming gases pumped out beyond their own boundaries in the production of the vast quantities of goods and services they consume, researchers said. Upstream emissions – those generated along the global production chain when cars, clothes or building materials... 

KGHM considers $246m loan from European Investment Bank

8th November 2017 Polish copper producer KGHM is considering taking a loan from the European Investment Bank (EIB) worth 900-million zlotys ($246.37-million) to invest in making production more effective, the company said on Tuesday evening. The loan agreement could be signed for 12 years in Polish zloty, US... 

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