Economy -
  • Gabon imports cooking gas to combat shortage
    01 november 2004 18:40:00
    Libreville- Gabon (PANA) -- Some 1,000 tons of cooking gas imported by Gabon following a national shortage arrived at the weekend at the Owendo port near Libreville, official sources said Monday. Full text...

  • Nigerian bourse opens week bullish
    01 november 2004 17:34:00
    Lagos- Nigeria (PANA) -- The Nigeria Stock Exchange (NSE) opened trading this week on a high note Monday with 103. Full text...

  • Bureaucracy costs Eskom to take over control of UEDCL
    01 november 2004 13:43:00
    Kampala- Uganda (PANA) -- The privatisation of Uganda's national electricity distribution company, Umeme Limited, suffered another setback due to bureaucracy -- failure to secure a World Bank guarantee protecting the firm against the risks of default. Full text...

  • Royal Air Morocco to resume flights to Lisbon
    01 november 2004 13:05:00
    Rabat- Morocco (PANA) -- Morocco's Royal Airline (RAM) will soon resume flights to the Portuguese capital of Lisbon after a two- year absence, the Moroccan News Agency (MAP) has reported. Full text...

  • Kibaki lures Asian investors at Tokyo conference
    01 november 2004 10:44:00
    Tokyo- Japan (PANA) -- President Mwai Kibaki of Kenya beckoned at Asian investors as an Asia-Africa Trade and Investment Conference (AATIC) got underway here Monday, to jump at Africa's tempting opportunities in especially the sectors of tourism and infrastructure. Full text...

  • Auto Africa Expo spotlights Africa's vehicle industry
    01 november 2004 10:35:00
    Cape Town- South Africa (PANA) -- Africa's vital role in the global automotive trade came under the spotlight at the 2004 Auto Africa Expo which ended in Johannesburg, South Africa, Sunday. Full text...

  • Obasanjo sues for creation of Asia-Africa investment centre
    01 november 2004 10:27:00
    Tokyo- Japan (PANA) -- African Union (AU) chairman, President Olusegun Obasanjo of Nigeria, called here Monday for the creation of what he dubbed a Japan-Africa Trade and Investment Centre (JATIC) "to link the AU and regional economic communities more closely with Japan and Asia. Full text...

  • Observers hail Africa's investment profile as AATIC kicks off
    01 november 2004 09:56:00
    Tokyo- Japan (PANA) -- A two-day Asia-Africa Trade and Investment Conference (AATIC) opened in Tokyo Monday with officials lauding what they said were reforms that had rekindled investor-interest in Africa, especially from Asia. Full text...

  • Panel worries over growth trends in Africa
    31 october 2004 10:31:00
    Tokyo- Japan (PANA) -- Ahead of the Africa/Asia Trade and Investment Conference (AATIC) opening here Monday, a panel of UNDP and World Bank officials conceded Sunday that despite boosts in its exchange with Asia, Africa's share of global trade and investment flows remain insignificant. Full text...

  • Africans, Asians discuss trade and investment in Tokyo
    31 october 2004 09:41:00
    Tokyo- Japan (PANA) -- A two-day conference grouping some 350 business executives and government representatives from Africa and Asia opens here Monday, focusing on ways to enhance trade and investment between the two regions. Full text...

  • Zimbabwe explores platinum projects worth US$290 billion
    31 october 2004 09:27:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's central bank governor Gideon Gono said here Sunday the government was in talks with foreign investors to tap huge platinum reserves valued at 290 billion US dollars. Full text...

  • New airline links Cotonou, N'djamena
    30 october 2004 18:03:00
    Cotonou- Benin (PANA) -- Toumai Air Chad, the new airline linking Benin and Chad, Friday made its inaugural flight from the Cadjehoun International Airport in Benin to the Chadian capital N'djamena. Full text...

  • Nigerian bourse ends week bullish
    30 october 2004 15:57:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) traded 345. Full text...

  • Nigerian naira falls slightly against US dollar
    30 october 2004 14:54:00
    Lagos- Nigeria (PANA) -- The Nigerian naira fell slightly to 132. Full text...

  • Kenya woos Thai investors
    30 october 2004 12:19:00
    Nairobi- Kenya (PANA) -- Kenyan President Mwai Kibaki has urged investors from Thailand to take advantage of the expanded regional market in East and Central Africa and invest in agricultural products, textile manufacturing, tourism, and information and telecommunication sectors. Full text...

  • Accra bourse dips on GCB loss
    29 october 2004 18:04:00
    Accra- Ghana (PANA) -- Transactions fell at the Ghana Stock Exchange (GSE) Friday with the GSE-All Share Index down by 54. Full text...

  • Mozambique to represent developing nations at UN meeting
    29 october 2004 17:40:00
    Maputo- Mozambique (PANA) -- Mozambican Prime Minister Luisa Diogo is to represent developing countries at a meeting of executives of UN agencies, taking place at the UN New York Headquarters Saturday. Full text...

  • Chissano hails govt, private sector dialogue in Mozambique
    29 october 2004 17:16:00
    Maputo- Mozambique (PANA) -- President Joaquim Chissano has said that dialogue between the government and business firms in Mozambique had resulted to "significant improvements" in the business climate in the country. Full text...

  • Nigeria takes measures to cushion rising fuel prices
    29 october 2004 15:56:00
    Abuja- Nigeria (PANA) -- Faced with the possibility of another debilitating fuel strike, the Nigerian government Friday announced measures aimed at cushioning the effects of incessant increases in the prices of petroleum products. Full text...

  • Cape Town firm to distribute new non-lethal pepper weapon
    29 october 2004 15:13:00
    Cape Town- South Africa (PANA) -- A Cape Town company has been awarded the sole distribution rights for the 'PepperBall System' in a multi-million rand deal, media reports said here Friday. Full text...

  • Tunisian textile market faces threat in Europe
    29 october 2004 15:02:00
    Tunis- Tunisia (PANA) -- Tunisian textile dealers have expressed fears that as the multi-fibre agreement with European Union countries draws to a close at the end 2004, the textile industry faces a serious threat from other competitors. Full text...

  • Nigeria, Sao Tome to award four oil blocs
    29 october 2004 15:01:00
    Abuja- Nigeria (PANA) -- Nigeria and Sao Tome and Principe Friday resolved to award four more oil blocs in their lucrative maritime boundary before the end of this year. Full text...

  • Microsoft launches Kiswahili glossary
    29 october 2004 13:22:00
    Nairobi- Kenya (PANA) -- To narrow the digital divide between Africa and industrialised nations, the computer software giant Microsoft Corporation has launched the Kiswahili version of its technology glossary. Full text...

  • Nigeria to auction 40 oil blocs in 2005
    29 october 2004 13:21:00
    Lagos- Nigeria (PANA) -- Nigeria will auction 40 oil blocs in 2005 as part of plans to increase the nation's oil reserves to 40 billion barrels by 2007, according to the Director of the regulatory Department of Petroleum Resources (DPR), Mac Ofurhie. Full text...

  • ADB encourages utilisation of wind energy in Africa
    29 october 2004 12:10:00
    Tunis- Tunisia (PANA) -- The African Development Bank (ADB) plans to encourage the utilisation of wind energy in countries with the largest potential to supplement the low capacity in conventional power and minimise the impact of galloping world oil market prices. Full text...

  • IFAD loans Congo toward rural development project
    29 october 2004 10:51:00
    Brazzaville- Congo (PANA) -- The government in Congo Friday announced it would start a rural development project in the districts of Plateaux (central) and Cuvette Ouest (north) next month, using an 8-billion FCFA loan from the International Fund for Agricultural Development (IFAD). Full text...

  • National small business meet underway in Cape Town
    29 october 2004 09:43:00
    Cape Town- South Africa (PANA) -- South Africa's Business Opportunities Network is hosting a national small business conference in Cape Town to provide a platform for both government and the private sector to discuss the role of small business in the economy. Full text...

  • China takes up shares at WADB
    28 october 2004 23:22:00
    Lome- Togo (PANA) -- The Peoples Republic of China has taken up shares in the West African Development Bank (WADB), the Lome- based institution indicated Thursday in a release here Thursday. Full text...

  • Praia to host workshop on micro-finance
    28 october 2004 23:15:00
    Praia- Cape Verde (PANA) -- The Cape Verde capital will next week host a two-day international seminar on micro-finance sponsored by the UN Development Programme (UNDP), official sources in Praia told PANA Thursday. Full text...

  • Trading dips Thursday at Abidjan bourse
    28 october 2004 23:12:00
    Abidjan- Cote d'Ivoire (PANA) -- Trading dipped Thursday at the Abidjan-based West Africa Regional Bourse (BRVM) with the all- share index losing 0. Full text...

  • Cape Verde to produce energy from household refuse
    28 october 2004 22:46:00
    Praia- Cape Verde (PANA) -- Cape Verde minister of Economy Joao Pereira Silva told Parliament Wednesday that the government would soon sign a contract with a foreign firm to produce energy from household waste. Full text...

  • Zimbabwe reports increase in gold production
    28 october 2004 22:01:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's central bank said Thursday gold production in the country had almost doubled to 15. Full text...

  • Zimbabwe devalues currency
    28 october 2004 21:58:00
    Harare- Zimbabwe (PANA) -- The authorities in Harare Thursday indirectly devalued the Zimbabwean dollar, with the central bank offering a higher exchange rate of ZWD6,200 to the greenback, up from the official rate of ZWD5,616 to the US dollar, to nationals repatriating earnings from abroad. Full text...

  • Zimbabwe increases debt repayment to IMF, others
    28 october 2004 21:30:00
    Harare- Zimbabwe (PANA) -- Zimbabwe said Thursday it had increased its debt repayments to the International Monetary Fund (IMF) and other creditors, following an improvement in foreign currency inflows into the country. Full text...

  • Zimbabwe revises down inflation target
    28 october 2004 20:44:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's Central Bank Thursday said inflation could drop to between 150 and 160 percent by year-end, revising its original projection of 200 percent. Full text...

  • Nigeria, Sao Tome discuss award of oil blocs
    28 october 2004 18:48:00
    Abuja- Nigeria (PANA) -- Officials from Nigeria and Sao Tome and Principe have begun a meeting in Abuja on the award of eight oil blocs for exploitation of petroleum and gas resources in their overlapping maritime boundary. Full text...

  • What is the problem with NEPAD?
    28 october 2004 17:27:00
    Dakar- Senegal (PANA) -- Critics may disagree with his style, but President Abdoulaye Wade of Senegal is a respected African leader who speaks his mind on any given subject. Full text...

  • Morocco spends 70 million euros in oil subsidy monthly
    28 october 2004 16:47:00
    Rabat- Morocco (PANA) -- The Moroccan government is infusing about 71 million euros per month to avoid an increase in the price of petroleum products, economic and general affairs minister Rachid Talbi El Alami has said. Full text...

  • Niger sets up export promotion agency
    28 october 2004 16:30:00
    Niamey- Niger (PANA) -- The government of Niger has created an export promotion agency called ANIPEX to boost export earnings, the trade, industry and handicrafts ministry disclosed here Thursday. Full text...

  • UN contemplates fresh anti-corruption strategies
    28 october 2004 15:58:00
    Nairobi- Kenya (PANA) -- The UN is contemplating the introduction of new approaches in the fight against corruption, key among them, the emphasis on the recovery of stolen public assets as opposed to prosecution of the corrupt, a visiting UN graft specialist said here Thursday. Full text...

  • Huge losses in African dairy sector worry FAO
    28 october 2004 13:41:00
    Nairobi- Kenya (PANA) -- Economic losses in the dairy sectors of East Africa and the Near East due to spoilage and waste could average as much as $90 million per year, according to new studies by the UN Food and Agriculture Organisation (FAO). Full text...

  • Sierra Leone engages in improved port management
    28 october 2004 09:14:00
    Freetown- Sierra Leone, (PANA) -- A visiting delegation from the Ghana Ports Authority (GPA) Thursday begun discussions with authorities in Freetown on strategies that could be used to improve the management of the Sierra Leone Ports Authority (SLPA). Full text...

  • Nigerian workers union issues fresh strike threat over fuel prices
    27 october 2004 23:12:00
    Abuja- Nigeria (PANA) -- The umbrella Nigeria Labour Congress (NLC) has issued a five-day ultimatum, expiring Sunday, to the federal government to reverse last month's 20-percent fuel price increase or face another round of strike that could cripple the nation's economy. Full text...

  • Kenya sugar firms expand into energy sector
    27 october 2004 22:11:00
    Nairobi- Kenya (PANA) -- Kenyan sugar companies are negotiating with the country's sole electric power distributor, the Kenyan Power and Lighting Company (KPLC) for the sale of excess power generated from the sugar by-products, officials confirmed here Wednesday. Full text...

  • ECOWAS boss proposes cross-border institutions to boost integration
    27 october 2004 22:05:00
    Abuja- Nigeria (PANA) -- ECOWAS Executive Secretary Mohamed Ibn Chambas said in Abuja Wednesday the 15-nation community was proposing the establishment of trans-border institutions to strengthen its integration programme. Full text...

  • Bureaucracy hurts Kenya's export-import sector
    27 october 2004 21:56:00
    Nairobi- Kenya (PANA) -- Kenyan importers and exporters are turning to the Asian market for raw material due to the complex process involved in procuring them locally, Trade and Industry Minister Mukhisa Kituyi conceded here Wednesday. Full text...

  • Zimbabwe bank shuts down
    27 october 2004 21:07:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's Central Bank Wednesday closed yet another bank in the country, the eighth so far this year, after it was found to be nearly bankrupt due to suspected fraud by its managers. Full text...

  • Spain props integrated development in Mauritania
    27 october 2004 20:55:00
    Nouakchott- Mauritania (PANA) -- Spain is currently financing an integrated development project for fishing communities along the Mauritanian coasts between Nouakchott and Nouadhibou, the Mauritanian News Agency (AMI) reported Wednesday. Full text...

  • Abidjan bourse inches up Tuesday
    27 october 2004 20:41:00
    Dakar- Senegal (PANA) -- Trading was upbeat Tuesday at the Abidjan-based West African Regional Bourse with the BRVM all- share index gaining 0. Full text...

  • Inflation up marginally in Mauritius
    27 october 2004 19:27:00
    Port-Louis- Mauritius (PANA) -- Inflation rate has risen to 4. Full text...

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