Economy -
  • EU, Morocco to resume agricultural talks
    01 august 2003 18:00:00
    Brussels- Belgium (PANA) -- Negotiations between the European Union (EU) and Morocco on the renewal of their agricultural protocol will resume in September, EU sources said in Brussels Friday. Full text...

  • S. Africa's Gold Fields quarterly earnings increase
    01 august 2003 12:38:00
    Johannesburg- South Africa (PANA) -- Gold Fields Limited on Friday reported net earnings for the quarter of R789 million (167 cents per share) compared to R805 million (171 cents per share) for the previous quarter and R1,180 million (251 cents per share) for last year's June 2002 quarter. Full text...

  • Nigeria's busiest airport has faulty radar
    01 august 2003 12:00:00
    Lagos- Nigeria (PANA) -- Officials at Nigeria's busiest airport in the commercial city of Lagos have reported a faulty radar system at the airport, causing long flight delays and difficulties in controlling air traffic, the local press reported Friday. Full text...

  • IMF approves new credit for Tanzania's poverty reduction
    01 august 2003 11:46:00
    Dar es Salaam- Tanzania (PANA) -- The International Monetary Fund (IMF) has approved a 21 million US dollars credit to support efforts by the Tanzanian government to reduce poverty in the country, which remains a main cause for concern. Full text...

  • UEMOA receives $1.96 million ADF grant
    31 july 2003 19:31:00
    Dakar- Senegal (PANA) -- The African Development Fund (ADF) and the West African Economic and Monetary Union (UEMOA) have signed an agreement for a grant of 1. Full text...

  • Zimbabwe dollar comes under pressure, loses value
    31 july 2003 18:20:00
    Harare- Zimbabwe (PANA) -- The Zimbabwe dollar sharply depreciated against major currencies this week, on the back of strong importer demand and speculative pressure from currency dealers, bankers said on Thursday in Harare. Full text...

  • Zimbabwe stocks rally as inflation soars
    31 july 2003 18:02:00
    Harare- Zimbabwe (PANA) -- The equity market in Zimbabwe rallied strongly on Thursday as interest rates weakened amid pressure from the government on the central bank to soften interest rates to promote growth. Full text...

  • Angola, Zimbabwe sign tourism co-operation agreement
    31 july 2003 16:55:00
    Harare- Zimbabwe (PANA) -- Zimbabwe and Angola on Thursday signed a tourism co-operation agreement, the latest in a series of economic accords the two countries have signed in the last few months. Full text...

  • S. Africa's Durban Airport gets top award
    31 july 2003 15:15:00
    Cape Town- South Africa (PANA) -- South Africa's Durban International Airport (DIA) on Thursday received the 2002 Airport World Service Excellence Award for runner-up best domestic airport in the world as well as recognition by the International Air Transport Association (IATA) as the best planned airport for 2002. Full text...

  • Chiluba given additional theft charges
    31 july 2003 14:53:00
    Lusaka- Zambia (PANA) -- Former Zambian President Frederick Chiluba has been slapped with 48 additional counts of theft by public servant involving more than 29 million US dollars, according to a statement released by Task Force chairman Mark Chona in Lusaka on Thursday. Full text...

  • International tour operators on reviving Kenyan tourism
    31 july 2003 13:58:00
    Nairobi- Kenya (PANA) -- A leading international tour operator is asking the Kenyan authorities to create a permanent source of tourists destination marketing funds in an attempt to revive the tourism industry, now in the doldrums due to negative travel advisories. Full text...

  • Pioneering empowerment reinsurance venture unveiled
    31 july 2003 13:45:00
    Cape Town- South Africa (PANA) -- South Africa's first reinsurance industry empowerment company chaired by businessman and entrepreneur, Dudu Kunene, was announced Thursday by Reinsurance Consultants and Intermediaries (RCI). Full text...

  • Impasse in WTO negotiations worries South Africa
    31 july 2003 08:56:00
    Johannesburg- South Africa (PANA) -- With six weeks to the 5th World Trade Organisation (WTO) ministerial conference in Cancun, Mexico, South Africa has expressed concern with the stand of "agricultural protectionists," it accuses of blocking market access for developing countries. Full text...

  • Kenya charts national export strategy
    29 july 2003 20:50:00
    Nairobi- Kenya (PANA) -- Kenya and the Geneva-based International Trade Centre (ITC) are working on a National Export Development Strategy (NEDS) to enhance the value and quantity of the East African country's exports, Trade and Industry minister Mukhisa Kituyi disclosed here Tuesday. Full text...

  • Kibaki widens scope of Goldenberg probe in Kenya
    29 july 2003 20:38:00
    Nairobi- Kenya (PANA) -- President Mwai Kibaki Tuesday widened the scope of the ongoing probe into the multi-million dollar Goldenberg scandal by ordering investigators to examine effects the scam has had on the Kenyan economy, and any future effects arising from it. Full text...

  • Nigerian bourse trading low Tuesday
    29 july 2003 17:58:00
    Lagos- Nigeria (PANA) -- Some 10. Full text...

  • Nigeria records 310 billion Naira deficit in 2002
    29 july 2003 17:37:00
    Lagos- Nigeria (PANA) -- Nigeria's federal government recorded a 310-billion-Naira deficit in fiscal operations in 2002, the Central Bank of Nigeria (CBN) said in its latest annual report. Full text...

  • Afro-Arab fair organisers to meet in Dar es Salaam
    29 july 2003 16:37:00
    Addis Ababa- Ethiopia (PANA) -- The organising committee for the Sixth Afro-Arab trade fair meets in Dar es Salaam, Tanzania, in September to review preparations for this year's exhibition, sources said here Tuesday. Full text...

  • Nigeria's apex bank disclaims list of distressed banks
    29 july 2003 15:34:00
    Lagos- Nigeria (PANA) -- The Central Bank of Nigeria (CBN) Tuesday denied issuing a list of purportedly distressed banks currently circulating in the country, according to a statement from the apex bank. Full text...

  • Strike deal vindicates labour market policy, says labour boss
    29 july 2003 08:26:00
    Cape Town- South Africa (PANA) -- South Africa's Department of Labour Director General, Rams Ramashia, has congratulated the National Union of Mineworkers (NUM) and the mining houses for their last minute deal, averting what could have been the biggest strike in the mining industry in 16 years. Full text...

  • Algeria's FX reserves head for $25.95 billion mark
    28 july 2003 23:20:00
    Algiers- Algeria (PANA) -- The Algeria Finance Ministry has projected that the country's foreign exchange reserves would reach 25. Full text...

  • Mauritius faces slight drop in 2003 economic growth
    28 july 2003 21:08:00
    Port-Louis- Mauritius (PANA) -- Economic growth in Mauritius would probably stand at 4. Full text...

  • Zambia, Angola, DR Congo eyeing 'growth triangle'
    28 july 2003 19:20:00
    Lusaka- Zambia (PANA) -- Talks aimed at enhancing socio-economic ties among neighbouring Zambia, Angola and the Democratic Republic of Congo, under a concept called the "growth triangle," continued here Monday, an official of the UN Development Programme (UNDP) has disclosed. Full text...

  • Kenyan govt appeases sugar cane farmers with easy loans
    28 july 2003 19:09:00
    Nairobi- Kenya (PANA) -- In a move to appease sugar cane farmers who are badly hit by cheap imports from COMESA member countries, the Kenya government has ordered the removal of interest and penalties charged on loans obtained by farmers from the Sugar Development Funds. Full text...

  • Standard Chartered Bank nudges Accra bourse Index
    28 july 2003 18:55:00
    Accra- Ghana (PANA) -- Standard Chartered Bank Monday pushed higher the Accra bourse Index, after gaining 1,999 cedis per share. Full text...

  • Nigerian bourse opens week low
    28 july 2003 17:26:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) traded 24. Full text...

  • Nigeria's debt conversion programme suffers setback
    28 july 2003 15:37:00
    Lagos- Nigeria (PANA) -- Nigeria's Debt Conversion Programme (DCP) suffered another setback at the last auction held in Lagos at the weekend, after government failed in its plan to redeem 500 million Naira worth of Promissory Notes. Full text...

  • Bank of Bermuda opens office in South Africa
    28 july 2003 15:34:00
    Johannesburg- South Africa (PANA) -- Bank of Bermuda on Monday announced that its Global Fund Services (GFS) division has signed a joint venture agreement with South African-based Investment Data Services (IDS) to offer third party fund administration to the alternative investment industry in South Africa. Full text...

  • Nigerian aviation watchdog kicks against fare hike
    28 july 2003 12:10:00
    Lagos- Nigeria (PANA) -- The Nigerian Aviation Safety Initiative (NASI) country's aviation watchdog, has asked the aviation ministry to stop the recent 12. Full text...

  • Burkina Faso examines public sector firms' performance
    28 july 2003 10:56:00
    Ouagadougou- Burkina Faso (PANA) -- The 4th session of the General Assembly of Burkina Faso's state-owned companies (AGSE) devoted to the audit of 58 public enterprises (EPE) has ended with several recommendations aimed at improving their performances. Full text...

  • WB earmarks $18 million for Mauritania's mining sector
    28 july 2003 10:43:00
    Nouakchott- Mauritania (PANA) -- Mauritanian Economic Affairs and Development Minister Abdallah Ould Souleymane ould Cheikh Sidya and the director of the World Bank (WB) operations in Mauritania, David Graig, have signed a financing agreement worth 18 million US dollars destined to a Project for the Institutional Strengthening of the Mining Sector (PRISM), official sources told PANA on Monday. Full text...

  • ADB approves 8-million euro loan to Tunisia Leasing
    28 july 2003 09:03:00
    Tunis- Tunisia (PANA) -- The African Development Bank (ADB) has approved a loan of eight million euros to finance a line of credit to a finance company, Tunisia Leasing (TL). Full text...

  • Nguema gets 'goodwill' message from Gabonese counterpart
    27 july 2003 20:16:00
    Malabo- Equatorial Guinea (PANA) -- Equatorial Guinea President Theodoro Obiang Nguema has received a message from his Gabonese counterpart Omar Bongo highlighting "cooperation and good neighbourliness," official sources disclosed Sunday. Full text...

  • Land transport fares shoot up in Benin
    27 july 2003 20:01:00
    Cotonou- Benin (PANA) -- Land transport fares for rural-to-urban and inter-urban routes have risen by 30 to 50 percent in Benin, a state of affairs drivers attribute to increase in the black market price of the commodity. Full text...

  • Obasanjo leaves Monday for economic talks in London
    27 july 2003 14:09:00
    Lagos- Nigeria (PANA) -- Nigerian President Olusegun Obasanjo is scheduled to leave Abuja for London Monday at the head of a team of top officials for high-level talks with British Prime Minister Tony Blair and the President of the World Bank, James Wolfensohn. Full text...

  • Tunisia hosts conference on cultural tourism
    27 july 2003 12:41:00
    Zarzis- Tunisia (PANA) -- Stakeholders on Sunday entered the second day of deliberations at an international conference here on the situation and prospects of ecological and cultural tourism in countries of the Mediterranean Basin. Full text...

  • Algerian, Moroccan exporters sign partnership agreement
    27 july 2003 11:35:00
    Algiers- Algeria (PANA) -- Algerian and Moroccan exporters have signed a partnership agreement in Casablanca to promote and develop trade between the enterprises in both countries, an official source said here Sunday. Full text...

  • Burundi promotes rural micro credit
    26 july 2003 19:59:00
    Bujumbura- Burundi (PANA) -- The Burundi government has set up a 2. Full text...

  • ECOWAS demands liberalisation of northern farm policies
    26 july 2003 19:26:00
    Bamako- Mali (PANA) -- Trade and Finance Ministers of the Economic Community of West African States (ECOWAS) have ended in Bamako a consultation meeting on future ACP-EU talks, demanding the effective liberalisation of agricultural policies of northern countries. Full text...

  • Transactions in Nigerian government securities up
    26 july 2003 16:33:00
    Lagos- Nigeria (PANA) -- The volume of transactions in Nigerian government securities increased significantly this week, with 151. Full text...

  • Nigerian currency appreciates slightly against dollar
    26 july 2003 16:18:00
    Lagos- Nigeria (PANA) -- The Nigerian Naira, appreciated by 69 kobo (0. Full text...

  • Growth triangle welcomes $30m aid for railway project
    26 july 2003 15:20:00
    Lusaka- Zambia (PANA) -- The Zambia-Malawi-Mozambique Growth Triangle secretariat in Lusaka on Saturday expressed excitement at the 30 million US dollar financial support promised by the US government to the three countries for two key development projects. Full text...

  • Congo Brazzaville to launch anti-corruption programme
    26 july 2003 15:14:00
    Brazzaville- Congo (PANA) -- Congo Brazzaville is to launch a national programme on the fight corruption and fraud, Simon Mfoutou, Minister of State Control at the Presidency, said Saturday. Full text...

  • Nigerian bourse weekly summary
    26 july 2003 11:59:00
    Lagos- Nigeria (PANA) -- Transactions at the Nigerian Stock Exchange (NSE) declined for the second week running, with a turnover of 135. Full text...

  • Facelift for infrastructure under way in Kenya
    25 july 2003 23:19:00
    Nairobi- Kenya (PANA) -- Kenyan towns are set to see a major facelift with an ambitious road maintenance and housing project under way, a senior official said here on Friday. Full text...

  • Austria grants 10m euro to Cape Verde
    25 july 2003 23:00:00
    Praia- Cape Verde (PANA) -- The Austrian government has granted Cape Verde 10 million euro for the 2003-2005 period under an agreement recently concluded in Praia, official sources told PANA here. Full text...

  • Ghana's main stock still rising, as volumes remain low
    25 july 2003 21:59:00
    Accra- Ghana (PANA) -- The main stock index of Ghana continued its rise in trading Friday, but volumes remained low as institutional buyers stayed on the fence. Full text...

  • Kenya to decentralise her export processing authorities
    25 july 2003 21:13:00
    Nairobi- Kenya (PANA) -- Kenyan authorities said they would soon set up export processing zones (EPZ) in the country's 65 administrative districts for the purpose of encouraging utilisation of locally available resources. Full text...

  • Mozambique slashes diesel, kerosene prices by %8
    25 july 2003 20:59:00
    Maputo- Mozambique (PANA) -- The Mozambican government Friday announced an 8. Full text...

  • South African entity to explore Senegalese oil
    25 july 2003 19:10:00
    Dakar- Senegal (PANA) -- Senegal and a South African company, Energy Africa, signed a contract here Thursday for hydrocarbon research and exploitation off the shores of Saint-Louis, some 270 km north of Dakar, the capital. Full text...

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