Africa
Nigerian Court Upholds Order Freezing Revenue From Statoil's Agbami Field A Nigerian court upheld an order
for Statoil ASA to set aside revenue from its offshore Agbami
oil field following a compensation claim from a former adviser.
CTC Suspends Congolese Operation Over Government's Non-Payment of Contract A U.S.-registered consulting firm
hired to modernize the Democratic Republic of Congo’s customs
agency has suspended operations over a payment dispute with the
government.
Kenya Power Costs May Decline as Improved Rains Boost Hydroelectric Plants Power costs in Kenya, East Africa’s
largest economy, may fall as seasonal rains raise water levels
at the nation’s hydroelectric plants, Kenya Power and Lighting
Co., the country’s only distributor of electricity, said.
Nigerian Coca-Cola Bottler to Expand Plants, Offer New Products, CEO Says Nigerian Bottling Co., which
bottles Coca-Cola products in Africa’s most populous nation,
will expand existing plants and introduce new products to cater
for changing tastes, Chief Executive Officer Jim Lafferty said.
Benin Cotton Output May Double on Increased Plantings, Government Support Benin plans to more than double
cotton output this year through increased plantings and
government support for the industry, Agriculture Minister
Gregoire Akofodji said.
Kenya Agriculture, Electricity Stocks Soar to 18-Month High on Heavy Rain Kenyan agricultural stocks rose to
the highest in at least 18 months and electricity shares soared
as the meteorological department forecast more rain for the
country, ending more than three years of drought.
Ghana's Inflation Rate Falls to 14.2 Percent, Eighth Consecutive Decline Ghana’s inflation rate fell for the
eighth consecutive month in February as stability in the
exchange rate helped control import costs.
Rand May Breach 10 Per Euro, 1st Time in 2 Years, Rand Merchant Bank Says The rand is poised to strengthen
beyond the 10 per-euro mark for the first time in more than two
years as fiscal difficulties weaken the common currency used by
16 European countries, says Rand Merchant Bank.
Massmart Extends a Four-Day Rally on Profit Outlook, Walmart Speculation Massmart Holdings Ltd., South
Africa’s largest food and general-goods wholesaler, extended a
four-day rally after saying earnings may improve and on
speculation Wal-Mart Stores Inc. may look to buy the retailer.
South African Inflation Policy Is Right One, Must be Flexible, IMF Says South Africa should continue to
pursue its inflation targeting policy, though it must show
“some flexibility,” said Dominique Strauss-Kahn, managing
director of the International Monetary Fund.
Sudan Needs Darfur Peace Deal Before Elections, U.S.Envoy Gration Says Time is running out for negotiators
to deliver a peace agreement in Sudan’s western Darfur region
before next month’s general elections and a 2011 referendum on
independence for the oil-producing south, a top U.S. envoy said.
Congo Offers $50 a Gun in Bid to End Conflict in Restive North Kivu Region The Democratic Republic of Congo’s
government said it began a new weapons-exchange program in the
war-torn eastern province of North Kivu, offering residents $50
per weapon handed in.
Zuma Submits List of Financial Interests, Gifts to South African Cabinet South African President Jacob Zuma
submitted a list of his financial interests to the secretary of
Cabinet, the Presidency said in a statement on its Web site
today.
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