Economy -
  • BG group, Tunisian govt enter agreement on power project
    27 may 2003 21:25:00
    Tunis- Tunisia (PANA) -- British energy outfit BG Group Plc has reached agreement with the Tunisian government build a 500 megawatts combined-cycle gas turbine (CCGT) plant in the town of Sfax, company sources affirmed Tuesday. Full text...

  • IMF Deputy Director General in Mali
    27 may 2003 21:10:00
    Bamako- Mali (PANA) -- Eduardo Aninat, a Deputy Director General of the International Monetary Fund (IMF) arrived in Mali Tuesday on a three-day official visit, official sources said in Bamako. Full text...

  • Mali's Toure to attend NEPAD summit in Nigeria
    27 may 2003 20:45:00
    Bamako- Mali (PANA) -- Malian President Amadou Toure will attend a New Partnership for Africa's Development summit on Wednesday in Abuja, Nigeria, official sources said in Bamako on Tuesday. Full text...

  • Africa decries world trade imbalance
    27 may 2003 19:50:00
    Nairobi- Kenya (PANA) -- Trade imbalances and poor market access by African goods to European markets are a major cause of famine in Africa, Common Market for Eastern and Southern Africa (COMESA) secretary-general Erastus Mwencha said on Tuesday in Nairobi. Full text...

  • British company lands Tunisian power contract
    27 may 2003 19:35:00
    Tunis- Tunisia (PANA) -- British energy outfit BG Group Plc said Tuesday it had reached an agreement with the Tunisian government to develop a 250-million dollar power project in Sfax. Full text...

  • NSE daily equities transactions
    27 may 2003 19:32:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) on Tuesday traded 30. Full text...

  • Foreign direct investment falls in Zimbabwe
    27 may 2003 18:37:00
    Harare- Zimbabwe (PANA) -- Foreign direct investment in Zimbabwe fell by half in the first five months of the year to 8. Full text...

  • US urges public-private sector partnership in Zambia
    27 may 2003 17:15:00
    Lusaka- Zambia (PANA) -- US ambassador to Zambia, Martin Brennan Tuesday called for strengthened ties between the public and private sectors in Zambia, saying as partners they could speedily develop the Southern African country. Full text...

  • Four countries dominate Africa's exports
    27 may 2003 16:52:00
    Lusaka- Zambia (PANA) -- South Africa, Nigeria, Algeria and Libya accounted for 55 percent of the African continent's exports valued at US$ 151. Full text...

  • Kibaki Nudges More Inter-African Trade
    27 may 2003 16:43:00
    Nairobi- Kenya (PANA) -- Kenyan president Mwai Kibaki Tuesday challenged African countries to expand trade links and form strong economic blocs to survive in the competitive world of trade and commerce. Full text...

  • Convoy arrives with Malian goods from Abidjan
    27 may 2003 15:27:00
    Bamako- Mali (PANA) -- A convoy of several trucks conveying Malian goods, which were left stranded at the port of Abidjan since the Ivorian crisis began last September, has arrived at the border post of Zégoua in southern Mali. Full text...

  • ADF approves $1.58m water project in Horn of Africa
    27 may 2003 12:55:00
    Tunis- Tunisia (PANA) -- The African Development Fund (ADF) has approved from its Technical Assistance Fund (TAF) window a grant of 1. Full text...

  • ECA blames Africa's strained economy for persistent poverty
    27 may 2003 11:02:00
    Addis Ababa- Ethiopia (PANA) -- Africa's social situation continues to deteriorate due to the sluggish economic growth that fails to make a dent on poverty reduction, the Economic Commission for Africa (ECA) says in a new report. Full text...

  • ADB donates $500,000 to Morocco for flood victims
    26 may 2003 23:52:00
    Tunis- Tunisia (PANA) -- The Board of directors of the African Development Bank on Monday approved a 500,000 US dollar grant to Morocco in order to help victims of the November 2002 floods in the country. Full text...

  • Burundi liberalises sugar industry
    26 may 2003 21:31:00
    Bujumbura- Burundi (PANA) -- Burundi has lifted measures prohibiting sugar exports with a view to protecting an artificial local market. Full text...

  • Mauritian sugar industry faces possible strike
    26 may 2003 20:09:00
    Port Louis- Mauritius (PANA) -- Mauritius' Sugar Industry Coalition said on Monday that work in the sector would slow-down with effect from the beginning of the next harvest scheduled for the first week of June. Full text...

  • WTO okays Kimberley process
    26 may 2003 19:52:00
    Brussels- Belgium (PANA) -- The European Union has welcomed the endorsement by the World Trade Organisation (WTO) of the international diamond certification system otherwise called the Kimberley Process in force since 1 January 2003, a release issued here Monday said. Full text...

  • NSE daily equities transactions
    26 may 2003 18:36:00
    Lagos- Nigeria (PANA) -- A turnover of 16. Full text...

  • Zimbabwean firm plans factory in Mozambique's Manica
    26 may 2003 17:02:00
    Maputo- Mozambique (PANA) -- Zimbabwean company Tangama Tea is examining the possibility of building a tea-processing factory in Mossurize district, in the central Mozambican province of Manica, according to a Tangama source contacted by the national news agency on Monday. Full text...

  • Malawi finally sells troubled giant textile firm
    26 may 2003 15:37:00
    Blantyre- Malawi (PANA) -- Malawi's privatisation commission Monday announced the sale of its loss-making giant textile firm to a consortium of local and Indian firms. Full text...

  • Cape Verde, Gambia sign civil aviation accord
    26 may 2003 15:21:00
    Praia- Cape Verde (PANA) -- Cape Verde and Gambia have signed a civil aviation accord allowing airlines companies chosen by the two parties to operate freely in their respective countries, airline sources said here Monday. Full text...

  • South Africa resumes power supply to Zimbabwe
    26 may 2003 14:58:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's power utility announced Monday its South African counterpart, Eskom, had resumed electricity supply to the country, cut off due to non-payment of arrears. Full text...

  • Kenyan envoys attend pre-world trade talks
    26 may 2003 14:12:00
    Nairobi- Kenya (PANA) -- Kenyan ambassadors and other senior officials on Monday started two-days of brain-storming here devoted to issues the country would likely face during the forthcoming World Trade Organization (WTO) meeting. Full text...

  • Second convoy of Ivorian cargo trucks for Mali
    26 may 2003 13:35:00
    Abidjan- Cote d'Ivoire (PANA) -- About 200 cargo trucks are due to start leaving Abidjan from Tuesday up to Sunday for Zegoua, near the Malian border, a business executive disclosed here Monday. Full text...

  • Zimbabwe company wins Iraq mine clearing contract
    25 may 2003 20:35:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean company announced on Sunday that it had won a landmine clearing contract in Iraq, which is currently under a US-Anglo occupation after a monthlong invasion in March. Full text...

  • Niger to lose millions due to Ivorian crisis
    25 may 2003 17:00:00
    Niamey- Niger (PANA) -- Niger will lose nearly 17 million US dollars in customs revenues in 2003 if the Ivorian crisis persisted, the country's customs director general, Youba Diallo, has told. Full text...

  • Sudan awards contract for second mobile network
    25 may 2003 14:39:00
    Khartoum- Sudan (PANA) -- A group of Sudanese and Arab companies has been awarded the contract for Sudan's second mobile telephone network, officials affirmed here Sunday. Full text...

  • Mauritius port, shippers enter agreement
    25 may 2003 11:04:00
    Port-Louis- Mauritius (PANA) -- Mauritius Ports Authority (MPA) and the Cargo Handling Company (CHC) have signed an agreement with shipping outfits P Full text...

  • Unemployment rate soars in Mauritius
    25 may 2003 10:06:00
    Port-Louis- Mauritius (PANA) -- The Mauritius Economic Council (JEC), warning that the rate of unemployment in the island was "worrying," has urged private companies to hire workers on a temporary basis for a period of at least two years. Full text...

  • Nigerian currency depreciates against US dollar
    24 may 2003 16:54:00
    Lagos- Nigeria (PANA) -- The Nigerian currency, the Naira, depreciated against the greenback at the two sessions of the Dutch Auction System (DAS) of foreign exchange allocation held this week, closing at 127. Full text...

  • Mauritania embarks on port storage expansion project
    24 may 2003 15:48:00
    Nouakchott- Mauritania (PANA) -- With financial assistance from Spain, Mauritania is presently investing $32 million to ensure a regular supply of petroleum products in the country, an official at the ministry of energy here said Saturday. Full text...

  • Transactions in Nigerian govt securities dip
    24 may 2003 15:07:00
    Lagos- Nigeria (PANA) -- Transactions in Nigerian government securities dipped this week as a meagre 14. Full text...

  • Experts prod African govts to embrace manufacturing
    24 may 2003 14:43:00
    Lusaka- Zambia (PANA) -- The advisory group of the African Export- Import Bank began meeting in Lusaka Saturday with keynote speakers prodding Africa to diversify exports and lay new emphasis on manufacturing to reduce poverty. Full text...

  • Trading bullish at Nigerian bourse
    24 may 2003 14:18:00
    Lagos- Nigeria (PANA) -- Equities trading at the Nigerian Stock Exchange (NSE) spiralled upwards this week, with 118. Full text...

  • Delay in implementing 2002 budget hampers Nigerian economy
    24 may 2003 09:56:00
    Lagos- Nigeria (PANA) -- Delays in implementing Nigeria's 2002 federal budget has had negative effect on planning and investment activities in the private sector of the economy, a budgetary review session concluded here Friday. Full text...

  • First trucks leave Cote d'Ivoire for Mali
    23 may 2003 23:37:00
    Abidjan- Cote d'Ivoire (PANA) -- Trucks loaded with goods left Abidjan for Bamako Thursday for the first time since the closure of the Mali-Cote d'Ivoire border following the Ivorian military insurrection on 19 September 2002. Full text...

  • Guinea gets $9 million loan from business tycoon
    23 may 2003 23:31:00
    Conakry- Guinea (PANA) -- The Futurelec Holding Group of business tycoon El Hadji Mamadou Sylla has loan the government 18 billion Guinean Francs (about 9 million dollars) to improve electricity and safe drinking water supply in the capital, press reports said Friday. Full text...

  • Reunion's Bourbon Group eyes offshore oil industry
    23 may 2003 22:55:00
    Saint Denis- Reunion (PANA) -- Reunion's Bourbon Group has decided to invest 1. Full text...

  • UEMOA Finance ministers meet in Niamey
    23 may 2003 21:48:00
    Niamey- Niger (PANA) -- Finance ministers of the West African Economic and Monetary Union (UEMOA) Friday convened in Niamey a meeting to examine ongoing projects and future undertakings of the regional body. Full text...

  • US oil giant to invest US$ 300 billion in Gulf of Guinea
    23 may 2003 21:44:00
    Luanda- Angola (PANA) -- The US ExxonMobil Exploration Company plans to invest about US$ 300 billion in oil prospecting and production in the Gulf of Guinea by the year 2002, the its vice president for Sub-Saharan Africa Kenneth R. Full text...

  • Seychelles protests WTO open market plan
    23 may 2003 21:33:00
    Saint Denis- Reunion (PANA) -- Seychelles foreign minister Jeremie Bonnelame has protested the World Trade Organisation recommendation to open the European market to non-members of the Africa, Caribbean and Pacific (ACP) countries grouping, which holds preferential trade agreements with Europe. Full text...

  • Ghana's apex bank doubts single-digit inflation by year-end
    23 may 2003 20:51:00
    Accra- Ghana (PANA) -- Ghana's Central Bank Governor Paul Acquah said Friday a single-digit inflation at the end of 2003 was unattainable due to petroleum price increases at the start of the year. Full text...

  • Turnover slackens at Nairobi Bourse
    23 may 2003 20:48:00
    Nairobi- Kenya (PANA) -- Turnover slackened this week to Kshs 280 million from the previous week's Kshs 416 million while the number of shares traded stood at 7. Full text...

  • Mwanawasa urges African bankers to help reduce poverty
    23 may 2003 20:32:00
    Lusaka- Zambia (PANA) -- Zambian president, Levy Mwanawasa Friday challenged African financiers to accelerate export development aimed at reducing poverty in Africa. Full text...

  • Ghana's Stock Market Maintains Momentum
    23 may 2003 20:23:00
    Accra- Ghana (PANA) -- The All-Share Index, the main market indicator of the Accra Bourse, maintained its momentum Friday, rising by 14. Full text...

  • British firm to invest $300 million in East Africa
    23 may 2003 18:50:00
    Nairobi- Kenya (PANA) -- Capital Development Corporation (CDC), a British firm, Friday announced plans to inject 300 million dollars in East Africa under a major investment to boost the economies of three states in the region. Full text...

  • Zimbabwe govt agency fails to take up stake in mine
    23 may 2003 17:47:00
    Harare- Zimbabwe (PANA) -- A state investment agency in Zimbabwe said on Friday it had given up on an offer of a 15 percent stake in a huge platinum project after failing to raise 30 million US dollars as required. Full text...

  • Africa's cotton farmers oppose subsidies
    23 may 2003 17:37:00
    Paris- France (PANA) -- Cotton producing countries of Africa have now decided to urge the World Trade Organisation to call to order on rich countries that subsidise their cotton farmers. Full text...

  • African Finance ministers to discuss war against poverty
    23 may 2003 09:45:00
    Addis Ababa- Ethiopia (PANA) -- African Finance, Planning and Economic Development minister are due to meet here on 1 June to discuss how the international development system can more effectively support Africa's battle against poverty. Full text...

  • Swazi king urges Israel to revamp technical assistance
    23 may 2003 08:03:00
    Mbabane- Swaziland (PANA) -- King Mswati III has urged Israel to rekindle its technical assistance to Swaziland, on a low ebb in recent years. Full text...

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