Economy -
  • Zimbabwe mine posts huge profits
    02 september 2004 18:21:00
    Harare- Zimbabwe (PANA) -- A Zimbabwe platinum mining group said here Thursday that it had increased its net profits for the year ended June by 135 percent, or USD18. Full text...

  • Zimbabwe bank secures offshore funding for agriculture
    02 september 2004 18:07:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean bank said on Thursday it had secured USD70 million offshore to finance cotton and tobacco production in the country, the third bank in a week to do so. Full text...

  • European, ECOWAS ministers to meet Saturday
    02 september 2004 17:23:00
    Brussels- Belgium (PANA) -- European Union foreign ministers and their counterparts from the Economic Community of West African States (RCOWAS) will attend a joint council of ministers session Saturday at Maastricht, The Netherlands, official sources said here Thursday. Full text...

  • Mauritius receives more tourists
    02 september 2004 16:57:00
    Port Louis- Mauritius (PANA) -- The number of tourists to Mauritius rose by 0. Full text...

  • Zambia nears completion of privatisation programme
    02 september 2004 16:14:00
    Lusaka- Zambia (PANA) -- Zambia, which began turning over state- owned companies into private hands ten years ago, is to conclude the privatisation scheme soon with the disposal of 21 companies still unsold. Full text...

  • Nigerian MPs seeks to bar Halliburton from oil contracts
    02 september 2004 13:43:00
    Lagos- Nigeria (PANA) -- Nigerian lawmakers are seeking to ban US oil services company Halliburton and one of its subsidiaries, TSKJ, from future oil contracts in Nigeria pending the outcome of a probe into allegations of US$180 million bribery against the firms. Full text...

  • Mali cabinet endorses 7mn dinars Islamic bank loan
    02 september 2004 13:05:00
    Bamako- Mali (PANA) -- The Malian cabinet has adopted the draft texts for ratification of a loan agreement signed 8 May in Jeddah, Saudi Arabia with the Islamic Development Bank (IDB) to finance a livestock development project in the West African state. Full text...

  • Algeria records satisfactory 1Q growth rate
    02 september 2004 12:27:00
    Algiers- Algeria (PANA) -- Algeria's economic performance in the first quarter of 2004 should confirm the 5. Full text...

  • Record production of Volkswagen in South Africa
    02 september 2004 11:45:00
    Cape Town- South Africa (PANA) -- The Volkswagen plant in South Africa's Eastern Cape province produced over 9,900 cars in August - an all-time production record. Full text...

  • Benin transport body demands release of detained drivers
    02 september 2004 10:34:00
    Cotonou- Benin (PANA) -- A body representing drivers and other transport operators has demanded authorities here to release by Friday their colleagues arrested as part of a crackdown on illicit fuel sales. Full text...

  • Mobile phone companies in price war in Algeria
    01 september 2004 22:17:00
    Algiers- Algeria (PANA) -- A price war has been raging in Algeria's mobile telephone sector since the entry last 25 August of a third operator, El Wataniya. Full text...

  • Cape Verde gets cement factory
    01 september 2004 21:36:00
    Praia- Cap Verde (PANA) -- A pozzolanic cement factory under construction in Porto Novo, Cape Verde would go operational before the year runs out, informed sources affirmed here Wednesday. Full text...

  • Mali, millet prices drop in Mali
    01 september 2004 19:31:00
    Bamako- Mali (PANA) -- A kilogram of millet sells this year at 80 CFA francs in Mali, against 160 CFAF last year while rice sells at 240-250 CFAF against 230 FCFA in 2003, press reports indicated Wednesday. Full text...

  • Mauritania marks fishing break
    01 september 2004 19:04:00
    Nouakchott- Mauritania (PANA) -- Mauritania's ministry of Fisheries and Maritime Economy has declared a two-month break in industrial ground, coastal, traditional and cephalopod fishing in the country's waters from 1 September to 31 October. Full text...

  • Nigeria picks Virgin Atlantic as new flag carrier
    01 september 2004 18:15:00
    Abuja- Nigeria (PANA) -- Nigeria's decision-making federal executive council Wednesday approved Virgin Atlantic Airlines as the strategic/technical investor for Nigeria's new flag carrier, to be called Virgin Nigeria Airlines. Full text...

  • Transactions bearish at Nigerian bourse
    01 september 2004 18:05:00
    Lagos- Nigeria (PANA) -- Mid-week trading at the Nigerian Stock Exchange (NSE) was bearish Wednesday, with 42. Full text...

  • Kadhafi calls for stability in oil zones
    01 september 2004 14:41:00
    Sirte- Libya (PANA) -- Libyan leader, Col. Full text...

  • World Bank presses Uganda to refund diverted grant
    01 september 2004 14:22:00
    Kampala- Uganda (PANA) -- Uganda's finance ministry is under pressure from the World Bank over lack of accountability in the utilisation of US$48,000 (about Shs100 million) suspected to have been diverted from the original objective to dubious military investments. Full text...

  • Mauritania holds survey on living standard
    01 september 2004 13:05:00
    Nouakchott- Mauritania (PANA) -- Mauritanian has launched a survey on the living conditions of households to provide vital statistics for the country's second poverty reduction strategy for 2005-2005, media reports said Wednesday. Full text...

  • ECA underscores development issues in trade reform
    01 september 2004 10:15:00
    Addis Ababa- Ethiopia (PANA) -- For Africa to make positive gains from trade reform, development issues should be taken more seriously in the current round of multilateral trade negotiations under the Doha Development Agenda, says a new study of the Economic Commission for Africa (ECA). Full text...

  • BCEAO withdraws former FCFA notes
    31 august 2004 23:31:00
    Dakar- Senegal (PANA) -- The Central Bank of West African States (BCEAO) will effective 1 January 2005 withdraw former CFA franc notes, Governor Charles Konan Banny announced Tuesday. Full text...

  • Cote d'Ivoire seeks law against money laundering
    31 august 2004 22:41:00
    Abidjan- Côte d'Ivoire (PANA) -- The Ivorian government is to come up with legislation to check money laundering and the financing of terrorism, Central Bank director Kablan Yao Sahi indicated after a meeting Tuesday with Foreign minister Bamba Mamadou. Full text...

  • ADB president visits Paris
    31 august 2004 21:49:00
    Paris- France (PANA) -- The president of the African Development Bank (ADB), Omar Kabbaj held discussions here Tuesday with French Cooperation minister Xavier Darcos. Full text...

  • West African pipeline project on course, says Ghanaian minister
    31 august 2004 21:10:00
    Accra- Ghana (PANA) -- Ghana's Energy Minister Paa Kwesi Kwesi Nduom refuted claims Tuesday that the West African Gas Pipeline Project (WAGP) was in trouble, saying the project was on course and the World Bank Board would soon present economic and technical details on the initiative. Full text...

  • Peace, a prerequisite for South African investment in DR Congo
    31 august 2004 20:21:00
    Kinshasa- DR Congo (PANA) -- South African deputy minister of Energy Lulu Xingwana has said her country was interested in the energy sector in DR Congo, but insisted on peace and stability as a precondition for investors to come in. Full text...

  • Mozambique to issue new banknote
    31 august 2004 19:47:00
    Maputo- Mozambique (PANA) -- Mozambique will Wednesday introduce two new banknote for 200,000 meticais (8. Full text...

  • No sign of hydrocarbons in Mozambican drilling
    31 august 2004 19:25:00
    Maputo- Mozambique (PANA) -- The Norwegian oil and gas company DNO has not found any significant quantities of the natural gas it has been seeking in the central Mozambican province of Sofala. Full text...

  • Zimbabwe bank secures offshore credit lines
    31 august 2004 19:03:00
    Harare- Zimbabwe (PANA) -- A Zimbabwe bank said Tuesday it had secured USD50 million in offshore credit lines to support local exporting industries. Full text...

  • Guinea faces severe foreign currency shortage
    31 august 2004 16:13:00
    Conakry- Guinea (PANA) -- Due to an acute shortage of foreign currency, the Guinean government was recently obliged to purchase US$10,000 from the black market to repay its foreign debt, a source close to the ministry of economy and finance told PANA in Conakry Tuesday. Full text...

  • UK trade mission to visit Nigeria
    31 august 2004 15:54:00
    Lagos- Nigeria (PANA) -- Delegates from 12 companies representing a wide range of British industry are scheduled to visit Nigeria on a trade mission 12-16 September 2004, the British Deputy High Commission said in Lagos Tuesday. Full text...

  • Ex-Malawi president implicated in Malawi maize scam
    31 august 2004 15:13:00
    Lilongwe- Malawi (PANA) -- Malawi's former President Bakili Muluzi and his former finance minister Friday Jumbe have been implicated in a probe into graft, fraud and mismanagement allegations at the state-run Grain Marketing Board. Full text...

  • Libya privatises more companies
    31 august 2004 14:00:00
    Tripoli- Libya (PANA) -- Authorities in Libya have privatised six state-owned companies operating in garment making, as well as the agriculture and animal husbandry sectors, the Libyan News Agency, JANA, confirmed here. Full text...

  • Nigeria receives $60 million forex via Moneygram
    31 august 2004 13:59:00
    Lagos- Nigeria (PANA) -- About 50. Full text...

  • Economists caution on Ethiopia's bid to join WTO
    31 august 2004 13:41:00
    Addis Ababa- Ethiopia (PANA) -- Though Ethiopia is currently negotiating for accession to the World Trade Organisation (WTO), local economists suggest that it should take time to put its industrial sector on a firm footing before it becomes a committed member. Full text...

  • Uganda, Ghana sign aviation agreement
    31 august 2004 13:36:00
    Kampala- Uganda (PANA) -- Uganda and Ghana have signed an agreement for direct commercial passenger and cargo flights, the first air transport agreement between the two countries. Full text...

  • Panama-based firm opens factory in Kenya
    31 august 2004 13:25:00
    Nairobi- Kenya (PANA) -- A Central American firm, Nutro Manufacturing Company, opened its factory here Tuesday, which will specialise in producing relief supplies for strife-torn countries in East Africa. Full text...

  • Mauritian govt, unionists ponder textile industry future
    31 august 2004 12:47:00
    Port Louis- Mauritius (PANA) -- Mauritian Prime Minister Paul Berenger and unionists from the textile industry have been dialoguing to resolve problems affecting the sector, an official source said here Tuesday. Full text...

  • Kenyan VP urges banks to loan rural residents funds
    31 august 2004 11:26:00
    Nairobi- Kenya (PANA) -- Kenyan Vice President Moody Awori has challenged banks and other financial institutions to empower the rural folks by availing credit at affordable interests to them. Full text...

  • ECOWAS 2nd monetary zone summit holds September in Conakry
    31 august 2004 10:53:00
    Lagos- Nigeria (PANA) -- A summit of Heads of State and Government of the ECOWAS Second Monetary Zone, to review the implementation of the convergence criteria in the countries of the zone, will take place in Conakry, Guinea 3 September, an ECOWAS statement has said. Full text...

  • Mobile phone firms in Algeria compete in price reduction
    31 august 2004 10:19:00
    Algiers- Algeria (PANA) -- Since El Wataniya, the third mobile phone company in Algeria, became operational here last Wednesday, a fierce competition has erupted in price reduction among mobile phone operators in the country. Full text...

  • Neves woos Macao investors
    30 august 2004 23:10:00
    Praia- Cape Verde (PANA) -- Cape Verde Prime Minister José Maria Neves is to attend an economic forum organised in Macao to attract investors from the autonomous Chinese province, reliable sources indicated here. Full text...

  • Gambian anti-graft commission chair ignores critics
    30 august 2004 22:14:00
    Banjul- Gambia (PANA) -- Gambia's Anti-Corruption Commission chairman Justice M. Full text...

  • Gambia introduces new airport security charges
    30 august 2004 21:03:00
    Banjul- Gambia (PANA) -- Gambia's Civil Aviation Authority (GCAA) Monday introduced a new levy on all passengers travelling through the Banjul International Airport, the GCAA said here. Full text...

  • Canadian company eyes DR Congo's diamond sector
    30 august 2004 20:27:00
    Kinshasa- DR Congo (PANA) -- Canadian company Southern Era is scouting for diamond mining opportunities DR Congo's Kasai region, CEO Patrick Evans told PANA Monday following an audience with Congolese Mines minister Eugene Diomi Ndongala Nzomambu. Full text...

  • French companies attend Casablanca fair
    30 august 2004 20:21:00
    Paris- France (PANA) -- About a hundred French companies in the telecommunication sector are taking part in a trade fair that kicked off Monday in Casablanca, sources at the French Foreign Trade Centre (CFCE) indicated here. Full text...

  • Ghana stock index slumps on cocoa products
    30 august 2004 20:01:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange slumped in trading Monday, heavily affected by the poor performance of Cocoa Products Company (CPC). Full text...

  • Zimbabwe bank secures huge credit lines
    30 august 2004 19:37:00
    Harare- Zimbabwe (PANA) -- A Zimbabwean bank said Monday it had secured US$120 million in lines of credit to finance the agricultural sector in the country. Full text...

  • Zimbabwe hikes fuel prices
    30 august 2004 19:32:00
    Harare- Zimbabwe (PANA) -- Fuel prices were increased sharply in Zimbabwe Monday due to similar recent hikes in the price of the commodity on international markets. Full text...

  • Nigerian bourse opens week low
    30 august 2004 16:22:00
    Lagos- Nigeria (PANA) -- The Nigeria Stock Exchange (NSE) opened the week on a low note Monday, with a turnover of 40. Full text...

  • Kenya launches new fish by-products venture
    30 august 2004 16:04:00
    Nakuru- Kenya (PANA) -- The Kenya Marine and Fisheries Department (KEMFRI) is in the process of implementing a programme where fish by-products from prawn harvesting are put into economic use. Full text...

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