Economy -
  • World Bank flays Congo over management of oil
    22 june 2001 11:21:00
    Brazzaville- Congo (PANA) -- The World Bank has decried what it said was the absence of transparency in the management of Congo's oil revenue. Full text...

  • South Africa lays cable to boost Africa's communication
    22 june 2001 08:46:00
    Cape Town- South Africa (PANA) -- A massive undersea fibre optic cable that would open up new communications options for African countries was laid at Melkbosstrand outside Cape Town this week. Full text...

  • Cote d-Ivoire-IMF negotiations resume
    21 june 2001 22:43:00
    Abidjan- Cote d'Ivoire (PANA) -- Third round talks between Cote d'Ivoire and a joint IMF-World Bank mission resumed in Abidjan Thursday. Full text...

  • Italy intends cancelling $4.1 billion debts to Africa
    21 june 2001 19:21:00
    Lome- Togo (PANA) -- Italy intends to announce the cancellation of some 4. Full text...

  • Indian Ocean Corporation investing 520 million rupees
    21 june 2001 16:49:00
    Port Louis- Mauritius (PANA) -- The Indian Oil Corporation (IOC) is investing additional 520 million rupees to boost its operations over the next three years, the Chairman A. Full text...

  • Ivorian, Senegalese Presidents plead in France for Air Afrique
    21 june 2001 16:47:00
    Paris- France (PANA) -- Currently visiting Paris, Presidents Abdoulaye Wade of Senegal and Laurent Gbagbo of Cote d'Ivoire are pushing for Air France to bail out the beleaguered multinational airline, Air Afrique, feared on the brink of liquidation. Full text...

  • BICI Senegal reports rise in turnover
    21 june 2001 15:44:00
    Dakar- Senegal (PANA) -- The International Bank for Commerce and Industry in Senegal (BICIS) completed the year 2000 with a turnover of 14. Full text...

  • Italian, Ethiopian companies sign 400 million power projects
    21 june 2001 12:48:00
    Addis Ababa- Ethiopia (PANA) -- The Ethiopian Electric Power Corporation (EEPC) and ENERCO of Italy Thursday signed three memoranda of understanding to build three power plants across the country. Full text...

  • Regional bank governor looks at Congo's finances
    21 june 2001 12:30:00
    Brazzaville- Congo (PANA) -- The Governor of the Bank of Central African States (BEAC), Jean Felix Mamalepot, has described as "very good" the financial situation of Congo from the "currency and credit" viewpoint, official sources said. Full text...

  • LuSE index jumps to all time high
    21 june 2001 11:55:00
    Lusaka- Zambia (PANA) -- The Lusaka Stock Exchange all-share index recorded a new high when it rose to 320. Full text...

  • Kwacha currency continues to lose ground
    21 june 2001 11:05:00
    Lusaka- Zambia (PANA) -- Zambia's kwacha currency has continued to lose ground against the US dollar in spite of efforts by the country's Central Bank to strengthen it with by selling more than two million US dollars. Full text...

  • Zambia to earn 15 million dollars from eclipse spectacle
    21 june 2001 10:48:00
    Lusaka- Zambia (PANA) -- Zambia expects to earn about 15 million US dollars in revenues from tourism facilities around the country by the time the eclipse spectacle is over Thursday, official sources said. Full text...

  • NSE's daily equities trading
    21 june 2001 10:00:00
    Lagos- Nigeria (PANA) -- A total of 14. Full text...

  • Over half of Ivorian coffee and cocoa trees are old
    21 june 2001 09:32:00
    Abidjan- Cote d'Ivoire (PANA) -- Almost 53 percent of cocoa and coffee plantations in Cote d'Ivoire are very old, the Ivorian Economic Research Centre (CIRES) concluded in a recent study conducted on the liberalisation of the sub-sector. Full text...

  • South Africa, Rwanda hold first joint commission meeting
    21 june 2001 08:39:00
    Johannesburg- South Africa (PANA) -- The first meeting of the Joint Commission of Co-operation between South Africa and Rwanda will take place in Pretoria Friday. Full text...

  • Lufthansa suspends flights to Abidjan
    20 june 2001 20:20:00
    Abidjan- Cote d'Ivoire (PANA) -- The German airline company, Lufthansa would suspend its two weekly flights between Frankfurt and Abidjan beginning 1 July, aviation sources announced Wednesday in Abidjan without giving reasons. Full text...

  • Kenya Airways to receive second passenger plane
    20 june 2001 20:14:00
    Nairobi- Kenya (PANA) -- Kenya Airways is expected to receive a new 'Boeing 767-300 ER' passenger plane on Monday, the second of its kind in one month. Full text...

  • South Africa faces major fuel shortage
    20 june 2001 19:58:00
    Cape Town- South Africa (PANA) -- South Africa is to cut fuel exports to neighbouring states by half with immediate effect following a major oil shortage in the country. Full text...

  • 940,000-US-dollar UNDP grant to Burundi
    20 june 2001 18:12:00
    Bujumbura- Burundi (PANA) -- Burundi is to receive community-support grant of 980,000 US dollars from the United Nations Development Programme (UNDP), for projects in the country's north-western Cibitoke province. Full text...

  • TELECEL and ONATEL in competition dispute
    20 june 2001 17:15:00
    Bujumbura- Burundi (PANA) -- An open conflict has broken out between the major provider of mobile telephone services in Burundi, TELECEL Burundi, and the National Telecommunications Board (ONATEL) which provides fixed telephone services, over financial arrangements related to their interconnection. Full text...

  • Kenya told to diversify on exports
    20 june 2001 16:36:00
    Nairobi- Kenya (PANA) -- Kenya should lay greater emphasis on non-traditional exports in order to increase her external trade volume, the country's export promotion council suggested. Full text...

  • UNDP to help poorest countries gain from globalisation
    20 june 2001 15:27:00
    Dakar- Senegal (PANA) -- UNDP is to launch a global campaign in 2002 to help the poorest countries benefit from globalisation, the Administrator of the UN Agency Mark Malloch Brown has revealed. Full text...

  • State orders 1,000 poor families to vacate land
    20 june 2001 15:02:00
    Blantyre- Malawi (PANA) -- The Malawi government has ordered at least 1,000 poor families in the southern tea and coffee- growing districts of Thyolo and Mulanje to vacate estate land they have forcefully occupied due to an acute land shortage in the area. Full text...

  • NSE Daily Equities Trading
    20 june 2001 14:16:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Tuesday, 19 June 2001. Full text...

  • Nigerian Shell Workers On Strike
    20 june 2001 13:02:00
    Lagos- Nigeria (PANA) -- The strike by senior workers of the Anglo-Dutch oil company Shell, Nigeria, entered the second Wednesday, but officials say the company's oil production is unaffected. Full text...

  • Guinean diamonds get certificates of origin
    20 june 2001 11:41:00
    Conakry- Guinea (PANA) -- The Guinean government has established a certificate for identifying diamonds exploited in the country, informed sources in Conakry said. Full text...

  • Mauritius forecasts 14 billion rupees trade deficit
    19 june 2001 22:50:00
    Port Louis- Mauritius (PANA) -- Mauritius will record a trade deficit of 14 billion rupees (29. Full text...

  • Businessmen urged to show aggressiveness
    19 june 2001 19:39:00
    Windhoek- Namibia (PANA) -- An American business trainer Tish Schutte on Tuesday urged Namibian business people to take advantage of what is on offer and continuously investigate new markets. Full text...

  • Fuel prices go up in Burkina Faso
    19 june 2001 17:40:00
    Ouagadougou- Burkina Faso (PANA) -- The ministry of trade, promotion of enterprises and the craft industry Tuesday announced an increase in the price of oil with effect from 19 June. Full text...

  • Independent power project takes off in Nigeria
    19 june 2001 17:39:00
    Lagos- Nigeria (PANA) -- After several months of delay, the much-awaited Lagos State government-funded independent power project has taken off, injecting some 60. Full text...

  • Brewery increases prices by 15 percent in Senegal
    19 june 2001 17:34:00
    Dakar- Senegal (PANA) -- The West African Breweries Company (SOBOA), Senegal's main brewery firm, has increased the prices of its products by 15 percent, the Senegalese News Agency (APS) reported. Full text...

  • Manager quits Nigerian bank
    19 june 2001 17:24:00
    Lagos- Nigeria (PANA) -- The Managing Director of one of Nigeria's top three banks, United Bank for Africa, has resigned, press accounts said Tuesday. Full text...

  • Experts pessimistic about Kenya attaining budget targets
    19 june 2001 16:51:00
    Nairobi- Kenya (PANA) -- The key target finance minister Chris Okemo set on budget day - seeking to reduce poverty - may prove elusive due to the small amount he allocated to development expenditure, economics experts warned Tuesday. Full text...

  • China strengthens foothold in Africa
    19 june 2001 16:37:00
    Lusaka- Zambia (PANA) -- China on Tuesday consolidated its hold on the business and economic activities of Africa by establishing its 11th trade centre on the continent in the Zambian capital of Lusaka. Full text...

  • UBA Managing Director quits
    19 june 2001 13:56:00
    Lagos- Nigeria (PANA) -- The Managing Director of one of Nigeria's top three banks, United Bank for Africa, has resigned, according to Tuesday media reports. Full text...

  • Zimbabwe stops issuing licences to private gold dealers
    19 june 2001 13:55:00
    Harare- Zimbabwe (PANA) -- The Zimbabwean government announced Tuesday it was suspending issuing licences to private gold buyers in a bid to curb the smuggling of the mineral out of the country. Full text...

  • Libya to supply oil to Ghana
    19 june 2001 12:30:00
    Accra- Ghana (PANA) -- Libya has agreed to supply 30,000 barrels of oil per day to Ghana to augment the supply from Nigeria, according to Foreign Minister Hackman Owusu Agyeman. Full text...

  • Air Maroc orders 4 Airbuses
    19 june 2001 11:34:00
    Rabat- Morocco (PANA) -- Royal Air Maroc (RAM) Monday signed a contract with French Airbus for the purchase of four Airbus-A321 aircraft at a ceremony in France, the Moroccan National Airline said in a statement. Full text...

  • Tribunal told that Minister directed irregular payment
    19 june 2001 07:56:00
    Lusaka- Zambia (PANA) -- A Tribunal investigating three cabinet Ministers accused of diverting two billion kwacha from parliament to finance the last National Convention of Zambia's ruling party heard Monday that one of the Ministers exceeded his powers. Full text...

  • South African company seeks business in Nigeria
    18 june 2001 20:30:00
    Johannesburg - South Africa (PANA) -- A South African company focussing on the non-regulated electricity related activities seeks to extend its business in Nigeria by participating in the three-day Powergen Electrolex exhibition beginning Tuesday in Lagos. Full text...

  • DRC authorises four diamond purchase counters
    18 june 2001 20:14:00
    Kinshasa- DR Congo (PANA) -- The Congolese government has approved four purchase counters within the framework of the new diamond sector policy which President Joseph Kabila decided when he ascended to power last January, an official source said Monday in Kinshasa. Full text...

  • NSE Daily Equities Trading
    18 june 2001 19:32:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Monday, 18 June 2001. Full text...

  • Govt Inaugurates Committees On Privatisation
    18 june 2001 19:26:00
    Lagos- Nigeria (PANA) -- Nigeria's federal government has inaugurated three committees to reform and restructure enterprises slated for the second phase of its privatisation programme. Full text...

  • Zambia launches traffic monitoring system
    18 june 2001 19:24:00
    Kabwe- Zambia (PANA) -- Zambia on Monday officially commissioned the nine million US dollar Advanced Cargo Information Systems (ACIS) to monitor the movement of traffic along the country's railways. Full text...

  • Nigerian youths abduct oil Company workers
    18 june 2001 18:57:00
    Lagos- Nigeria (PANA) -- Youths from the oil-producing Ilaje community in Nigeria's south-west State of Ondo are holding hostage two Nigerian workers of the American oil company Chevron, whom they seized on Thursday. Full text...

  • Zambian kwacha keeps low profile as trading resumes
    18 june 2001 17:50:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha remained low against the US dollar as business resumed on Monday, with the Central Bank marginal dealing rate still perched precariously at 3,650 units to the dollar. Full text...

  • IMF assesses Congo's economic performance
    18 june 2001 16:58:00
    Brazzaville- Congo (PANA) -- An IMF team is in Brazzaville to evaluate Congo's economic performance, a source close to the Economy, Finance and Budget Ministry said Monday. Full text...

  • Bissau government in financial dire straits
    18 june 2001 16:43:00
    Bissau- Guinea Bissau (PANA) -- A local newspaper had highlighted the grim situation of the Bissau-Guinean government, noting that the country's internal debt alone had piled up to some 15 billion francs CFA (1 US dollar = 700 FCFA). Full text...

  • China opens trade centre in Lusaka
    18 june 2001 15:33:00
    Lusaka- Zambia (PANA) -- The Chinese government will on Tuesday open a centre for the promotion of trade and investment in Lusaka, bringing to 11 the total number of Chinese centres now operating in Africa. Full text...

  • Report on World Bank portfolio in Benin
    18 june 2001 13:43:00
    Cotonou- Benin (PANA) -- The World Bank portfolio in Benin is well managed, according to the sixth Performance Review of projects quoted by the Benin News Agency (ABP) Monday. Full text...

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