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Reuters

African Export Import Bank to invest up to $500m in Gambia

16th May 2017 The African Export Import Bank (Afreximbank) will invest up to $500-million in Gambia, its president said, an economic boost to the impoverished West African country ostracized by investors under former president Yahya Jammeh. The money will go towards tourism, infrastructure and agriculture in... 

Former South African mines minister says Eskom tried to influence him

16th May 2017 Former South African mines minister Ngoako Ramatlhodi said on Tuesday, without giving evidence, that power utility Eskom's CEO and chairperson asked him in 2015 to suspend Glencore's mining licences to put pressure on the commodities firm to sell a coal mine. Khulani Qoma, a spokesperson for... 

Australia and Hong Kong begin free trade agreement talks

16th May 2017 Australia and Hong Kong began talks to secure a free trade agreement, Australia's trade minister Steven Ciobo said on Tuesday, saying the focus would be on securing increased access for service providers and it could be firmed up within a year. Ciobo, who met Hong Kong's Secretary for Commerce... 

South Africa to use procurement budget 'strategically' to transform economy – Gigaba

16th May 2017 South Africa's Finance Minister Malusi Gigaba said on Monday the treasury would use its R500-billion ($40-billion) annual procurement budget to transform the economy and give more support to black-owned businesses. "The strategic use of state procurement is an important lever to grow black... 

South Africa may award first shale gas exploration licences by end-Sept

16th May 2017 South Africa's government may award its first shale gas exploration licences by the end of September, after environmental objections delayed the process, a senior government official said on Monday. The five licence applications under review are for exploration in the semi-arid Karoo basin. 

Elliott steps up pressure on BHP to ditch petroleum

16th May 2017 Activist investor Elliott Management upped the pressure for strategic changes at BHP on Tuesday, calling for an independent review of the mining giant's petroleum business. Elliott, which has built up a 4.1% stake in BHP's UK-listed arm and is urging changes to boost shareholder value, said... 

Coal market oversupply risks grow as producers boost output

16th May 2017 The risk of oversupply in the global coal market is growing as suppliers respond to higher prices, though power demand in countries such as Indonesia may absorb some extra output, producers and analysts said. The global coal market is forecast to see oversupply of 16-million tonnes this year,... 

Deripaska's group bets on improving aluminium, Russian outlook

16th May 2017 A deepening global shortage of aluminium and an improving outlook for Russian equities should make tycoon Oleg Deripaska's En+ company attractive to investors seeking exposure to emerging markets free of foreign exchange risks, its chief told Reuters. Chief Executive Maxim Sokov said En+ is... 

Paulson holds SPDR Gold holdings steady as bullion rallies

16th May 2017 Paulson & Co held its stake steady in the world's biggest gold exchange-traded fund while Soros Fund Management stayed out of the precious metal in the first quarter of 2017, when bullion prices rallied to 3-1/2-month highs, a filing showed on Monday. New York-based Paulson & Co, led by longtime... 

Peru economy grows in March vs yr ago despite floods

15th May 2017 Peru's economic output grew 0.71% in March compared with the same month a year earlier, beating expectations in a Reuters poll for a contraction of 0.5%, the government's national production indicator showed on Monday. It marked the smallest annual gain since November 2014, the national... 

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