Economy -
  • Japanese bank cancels loan to Zimbabwe
    05 october 2001 11:08:00
    Harare- Zimbabwe (PANA) -- A Japanese bank Friday cancelled a five billion Zimbabwe dollar (1USD = 55ZD) soft loan to Zimbabwe meant to finance a telecommunications project due to alleged corruption. Full text...

  • Saldanha Steel draws close to full design capacity
    05 october 2001 09:49:00
    Cape Town- South Africa (PANA) -- Saldanha Steel mill near Cape Town increased its production of hot rolled coil (HRC) from 91,389 tons in May this year to 93,422 in September. Full text...

  • Tunisia, OPEC enter protection agreement
    04 october 2001 23:41:00
    Tunis- Tunisia (PANA) -- Tunisia and the Development Fund of the Organisation of Petroleum Exporting Countries (OPEC) have signed an agreement aimed at encouraging and protecting investments, the Tunisian News Agency (TAP) reported Wednesday. Full text...

  • Elders exempted from airport tax in Seychelles
    04 october 2001 23:40:00
    Victoria- Seychelles (PANA) -- Seychelles National Assembly (Parliament) has passed a motion exempting senior citizens aged 63 and above, from payment of airport tax in the country, an official statement said Thursday. Full text...

  • Chissano on the importance of information technologies
    04 october 2001 23:14:00
    Maputo- Mozambique (PANA) -- President Joaquim Chissano says Mozambique cannot ignore information and communications technologies, if it hopes to compete in the global economy. Full text...

  • Prices consumer goods on the increase
    04 october 2001 22:02:00
    Ouagadougou- Burkina Faso (PANA) -- Consumer goods prices rose drastically in Burkina Faso between March and August this year, compared to previous years, according to statistics released by the Trade Ministry. Full text...

  • Mozambican company fires 300 workers
    04 october 2001 21:05:00
    Maputo- Mozambique (PANA) -- About 300 workers of the MOZAL aluminium smelter on the outskirts of Maputo who took part Wednesday in what management said was an illegal strike, have been sacked, a company spokesman announced Thursday. Full text...

  • Thierry Tan to revive Ivorian coffee project
    04 october 2001 20:35:00
    Abidjan- Cote d'Ivoire (PANA) -- Chinese businessman Thierry Tan, who fled Cote d'Ivoire in 1995 following allegations that he had embezzled 25 000 million francs CFA F (35 million US dollars) is back in Abidjan with plans to revive his 'Ivoir Café' project. Full text...

  • Air Botswana expands domestic network
    04 october 2001 18:58:00
    Gaborone- Botswana (PANA) -- Air Botswana has expanded its domestic services, adding three more routes to its network. Full text...

  • Kenya Airways suspends flights to Muscat
    04 october 2001 18:39:00
    Nairobi- Kenya (PANA) -- Kenya Airways has cancelled its flights to Muscat, citing low business on the route and stringent visa requirements imposed on the nationals of unspecified countries. Full text...

  • Fuel shortage affects traffic in Abidjan
    04 october 2001 17:40:00
    Abidjan- Cote d'Ivoire (PANA) -- Traffic was still erratic in Abidjan Thursday due to an acute shortage, which had forced the closure of most petrol stations since Wednesday afternoon. Full text...

  • NNPC Stops Export Of Cooking Gas
    04 october 2001 16:40:00
    Lagos- Nigeria (PANA) -- Nigeria's state-owned oil company NNPC has suspended the export of domestic gas to ensure availability of the product locally and bring down its price, company officials announced. Full text...

  • Zambia's politicians unconcerned with people's plight
    04 october 2001 15:49:00
    Lusaka- Zambia (PANA) -- Zambia's political leadership shows no concern for the people's worsening living condition, according to a church researcher on economic and social development issues. Full text...

  • Leaders to present new African initiative in Brussels
    04 october 2001 15:20:00
    Brussels- Belgium (PANA) -- Four African Presidents who pioneered the "New African Initiative" are scheduled to meet the Belgian Prime Minister, Guy Verhofstadt and the President of the European Commission, Romano Prodi, in Brussels on 10 October, official sources said Thursday. Full text...

  • Expert claims South Africa lead in development management
    04 october 2001 13:15:00
    Cape Town- South Africa (PANA) -- Fresh from a development financing conference in Germany, South African management executive, Pakie Mphahlele has claimed "South Africa is streets ahead of the world when it comes to development financing". Full text...

  • Government approves deficit-free fiscal 2002 budget
    04 october 2001 11:14:00
    Nouakchott- Mauritania (PANA) -- The Mauritanian government has approved a balanced budget of 170. Full text...

  • Pest outbreak threatens timber trade in Malawi
    04 october 2001 08:24:00
    Blantyre- Malawi (PANA) -- The multi-million kwacha timber trade in northern Malawi is under threat following an outbreak of a pest that is fast spreading in forest reserves. Full text...

  • Chamber of Commerce takes issue with Namibian banks
    03 october 2001 23:23:00
    Windhoek- Namibia (PANA) -- Banking institutions in Namibia must ease their lending policies to ensure that vital segments of the economy are not denied access to finance, Namibia Chamber of Commerce and Industry (NCCI) president Leake Hangala, stressed Wednesday. Full text...

  • NSE equities daily trading
    03 october 2001 21:49:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Wednesday, 3 October 2001. Full text...

  • GSE All-share Index falls
    03 october 2001 19:34:00
    Accra- Ghana (PANA) -- The Ghana Stock Exchange All-share Index lost 1. Full text...

  • Battered Zambian kwacha gains brief respite
    03 october 2001 17:45:00
    Lusaka- Zambia (PANA) -- The Zambian kwacha was on Wednesday enjoying rare moments of stability against the greenback after the Central Bank intervened massively the previous day with a huge offer of hard currency. Full text...

  • Tunisia, Cote d'Ivoire sign co-operation agreement
    03 october 2001 15:14:00
    Tunis- Tunisia (PANA) -- Tunisia and Cote d'Ivoire have signed an agreement that would promote the postal sector, develop electronic services and upgrade human resources through the use of the new information and communication technologies. Full text...

  • Comesa free trade area fails to attract new members
    03 october 2001 14:54:00
    Lusaka- Zambia (PANA) -- No new members have joined the Free Trade Area launched by the Common Market for Eastern and Southern Africa on 31 October in spite of sustained coaxing. Full text...

  • Report puts Mauritius' economic growth at 6.1 percent
    03 october 2001 11:27:00
    Port Louis- Mauritius (PANA) -- The London-based Economist Intelligent Unit estimates that the economic growth of Mauritius would be 6. Full text...

  • Low Prices Force Shutdown Of Zambian Copper Mine
    03 october 2001 09:36:00
    Lusaka- Zambia (PANA) -- A South Africa-based mining group, Metorex, has shut down its copper and cobalt mine at Chibuluma in Zambia blaming low prices for the minerals on the international market. Full text...

  • Tanzanians rush for shares in fag company
    03 october 2001 09:04:00
    Dar es Salaam- Tanzania (PANA) -- Dar es Salaam Stock Exchange has witnessed a soaring demand of shares in the Tanzania Cigarette Company, one of the five public firms listed on the fledgling bourse. Full text...

  • Tanzania shilling remains stable
    03 october 2001 08:38:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania's shilling remained stable over the past two weeks, making a slight gain against the U. Full text...

  • Seychelles, EU sign new fishing agreement
    02 october 2001 23:18:00
    Brussels- Belgium (PANA) -- The EU and Seychelles have renewed their fishing agreement for 2002-2005, according to a communique issued in Brussels Tuesday. Full text...

  • Schweppes brewers fight lawsuit in Kenya
    02 october 2001 22:44:00
    Nairobi- Kenya (PANA) -- Kenyan construction company Pana Laxmanbhai Limited has gone to court seeking to restrain the directors of Anspar Beverages Limited, who are owners of the Schweppes franchise, from disposing of property in a 30 million- Kenyan shilling (about 400 000 US-dollar) case. Full text...

  • EU chieftain rallies support for pending EU/ACP agreements
    02 october 2001 22:29:00
    Nairobi- Kenya (PANA) -- European Union trade commissioner Pascal Lamy has enjoined African Caribbean and Pacific (ACP) and European Union (EU) countries to rally behind the planned Economic Partnership Agreements (EPAs) due negotiation in September 2002. Full text...

  • Mining company steps up security
    02 october 2001 21:13:00
    Lusaka- Zambia (PANA) -- Konkola Copper Mines of Zambia has stepped up security around its work sites, resulting in the arrest of 1,392 offenders and the recovery of company property valued at more than 200 000 US dollars. Full text...

  • NSE equities daily trading
    02 october 2001 18:54:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigerian Stock Exchange for Tuesday, 2 October 2001. Full text...

  • Moi urges WTO to address global economic imbalances
    02 october 2001 17:55:00
    Nairobi- Kenya (PANA) -- Kenyan President Daniel arap Moi has called on the World Trade Organisation (WTO) to address the imbalances between developed and developing countries so as to enhance harmonious global development. Full text...

  • Bond requirement holds Indian bankers at bay
    02 october 2001 17:10:00
    Addis Ababa- Ethiopia (PANA) -- The touted modernisation programme for the Commercial Bank of Ethiopia hangs in the balance after a deal struck with State Bank of India seems to be falling through. Full text...

  • Higher food prices push Zambia's inflation rate
    02 october 2001 16:18:00
    Lusaka- Zambia (PANA) -- Zambia's inflation rose to 17. Full text...

  • 12 Quoted Companies Bag NSE Annual Award
    02 october 2001 15:39:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange at the weekend endorsed 12 quoted companies as winners of its 24th Annual President's Merit Award for the 2000 financial year. Full text...

  • Minister reveals existence of copper in Lower-Congo
    02 october 2001 15:22:00
    Kinshasa- DR Congo (PANA) -- Congo's junior mining minister Amboise Mbaka Kawaya has revealed the existence of exploitable copper, diamonds, gold, zinc and other minerals in the Western Lower-Congo province. Full text...

  • Africa's insurance industry stunted as few seek contingency cover
    02 october 2001 14:59:00
    Dakar- Senegal (PANA) -- With a turnover of about 10 billion dollars, the African insurance industry only represents between 1. Full text...

  • Zambia to award fourth mobile phone licence
    02 october 2001 14:07:00
    Lusaka- Zambia (PANA) -- Zambia is to award an operating licence to the fourth mobile phone service in a bid to further liberalise the communications sector. Full text...

  • Leading Mauritian firm doubles profits
    02 october 2001 13:39:00
    Port Louis- Mauritius (PANA) -- The Mauritian investment company doubled its profits from 50. Full text...

  • IMF sends assessment mission to Brazzaville 22 October
    02 october 2001 12:23:00
    Brazzaville- Congo (PANA) -- A mission of the IMF to review progress on the execution of adjustment measures reached with Congolese authorities as part of the post-conflict emergency plan will visit Brazzaville 22 October to 2 November 2001. Full text...

  • Local investors set to buy shares in five-star hotel
    02 october 2001 09:28:00
    Lusaka- Zambia (PANA) -- Zambia's top class hotel in Lusaka is to sell 30 million shares to ordinary citizens this month as part of government's divestiture of its majority shareholding in the enterprise. Full text...

  • Poverty On the Prowl Following US Terrorist Attacks
    01 october 2001 23:45:00
    Nairobi- Kenya (PANA) -- The 11 September terrorist attacks in the US will hurt economic growth in developing countries world-wide in 2001 and 2002, condemning as many as 10 million more people to live in poverty next year, the World Bank says in a preliminary economic assessment released Monday. Full text...

  • Bank highlights Zambia's HIPC prospects
    01 october 2001 22:07:00
    Livingstone- Zambia (PANA) -- The Bank of Zambia (BOZ) has intimated that creditors would in the coming years forgive about 63 percent of Zambia's nominal debt stock as at 1999, in the course of which 3. Full text...

  • China, Yemen, Turkey at Kenyan trade fair
    01 october 2001 20:04:00
    Nairobi- Kenya (PANA) -- China, Yemen and Turkey joined hosts Kenya to showcase their technologies and merchandise in this year's edition of the Nairobi International Trade Show. Full text...

  • Central Bank denies hoarding funds
    01 october 2001 19:31:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia (BOZ) has refuted press reports that funds under the country's Multi-purpose Credit Facility (MCF) were not being made available to the private sector. Full text...

  • Central Bank moves to regulate small credit institutions
    01 october 2001 19:03:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia (BOZ) is contemplating closer regulation of micro-finance institutions (MFIs) in the country, with a view to ensuring stability in both savings and loans, a top Bank source said. Full text...

  • Fuel prices up in Angola
    01 october 2001 18:01:00
    Luanda- Angola (PANA) -- Fuel prices in Angola have gone up by an average of 40 percent following an "adjustment" by the finance ministry, the Angolan news agency, Angop, reported Monday. Full text...

  • Chiluba accuses millers of conspiring against government
    01 october 2001 15:09:00
    Lusaka- Zambia (PANA) -- Zambian President Frederick Chiluba on Monday accused local maize millers of conspiring and working against his government to sharply increase the price of the staple mealie meal. Full text...

  • World Bank lends 45 million dollars to Zambia
    01 october 2001 14:39:00
    Lusaka- Zambia (PANA) -- The World Bank has, through the International Development Association (IDA), released 45 million dollars to the Zambian government in fulfilment of the second part of the fiscal sustainability credit. Full text...

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