Economy -
  • De Beers Chairman speaks against conflict diamonds
    07 june 2001 21:24:00
    Windhoek- Namibia (PANA) -- De Beers Chairman Nicky Oppenheimer on Monday urged southern African diamond producing countries to continue efforts to protect the integrity of "development diamonds". Full text...

  • Jubilee protests against World Economic Forum Summit
    07 june 2001 20:38:00
    Cape Town- South Africa (PANA) -- The Jubilee Campaign on Thursday demanded that South Africa withdraw from the World Economic Forum (WEF) in Durban to protest against globalisation and imperialisation. Full text...

  • Accra to host World Trade Centre
    07 june 2001 19:14:00
    Accra- Ghana (PANA) -- A 200 million US dollar World Trade Centre (WTC) is to be established in Accra to accelerate the pace of Ghana's commerce and industry and place the country's potential in a one-stop shop. Full text...

  • World Bank approves 150 million dollars for Ethiopia
    07 june 2001 17:54:00
    Addis Ababa- Ethiopia (PANA) -- The World Bank has approved a 150 million US dollar Economic Rehabilitation Support Credit (ERSC) for Ethiopia to enable the government stablize the economy and resume a sustainable path of growth. Full text...

  • France gives conditions for assistance to Cote d'Ivoire
    07 june 2001 15:21:00
    Abidjan- Cote d'Ivoire (PANA) -- The French Embassy in Abidjan says Paris will only resume full economic and financial assistance to Cote d'Ivoire, when the latter concludes agreements with the Bretton Woods institutions. Full text...

  • African customs officers in conclave in Bamako
    07 june 2001 14:49:00
    Bamako- Mali (PANA) -- Mali's Customs Administration is hosting, beginning Thursday in Bamako, the first meeting of Customs Survey Directors and heads of Fraud Control Services within the West African Economic and Monetary Union (WAEMU). Full text...

  • Namibia's exchange rates
    07 june 2001 12:49:00
    Windhoek- Namibia (PANA) -- Following is the daily exchange rates list for the Namibian dollar as provided by First National Bank Thursday: Dollar/Commercial Rand: 8,1186 Euro/Dollar : 0,8476 Sterling/Dollar : 1,3927 Dollar/Swiss Franc : 1,7961 Dollar/Japanese Yen : 120,15 Gold/Dollar : 266,75 Gold/Commercial Rand : 2165,64 Rand/Deutschmark : 0,2843 Rand/French Franc : 0,9534 Sterling/Grand : 11,2940 Rand Botswana Pula : 0,6995 Euro/Rand : 6,8786 Rand/Swiss Franc : 0,2213 Rand/Spanish Peseta : 24, 1827 Rand/Kenya Schilling : 9,6507 Rand/Malawi Kwacha : 9,1765 Rand/Zambia Kwacha : 428,03 Rand/Zimbabwe Dollar : 6,7746 USD/Rand : 8,0476 Metals: Gold AM FIX 266,95 Gold PM FIX 265,50 Silver 4,35 Full text...

  • Zimbabwe records a budget surplus
    07 june 2001 10:56:00
    Harare- Zimbabwe (PANA) -- Zimbabwe has recorded a budget surplus of 2. Full text...

  • Minister offers good news on economy
    07 june 2001 09:36:00
    Dar es Salaam- Tanzania (PANA) -- Tanzania's annual economic growth is expected to leapfrog to 6. Full text...

  • Reports says monopoly is bane to power tariffs in East Africa
    07 june 2001 07:58:00
    Dar es Salaam- Tanzania (PANA) -- Electricity tariffs in East Africa are likely to remain high compared to those in Southern Africa until the power sector in the region, monopolised by ill performing state utilities, is thrown fully open to competition, according to a forecast of the latest power tariff trends for the two regions. Full text...

  • Situation in Zimbabwe concerns World Economic Forum
    06 june 2001 20:06:00
    Cape Town- South Africa (PANA) -- Many delegates attending the World Economic Forum's Southern Africa Economic Summit in Durban Wednesday expressed deep concern about the political and economic crisis in Zimbabwe. Full text...

  • Ministers discuss Air Afrique's fate amid tension
    06 june 2001 19:36:00
    Abidjan- Cote d'Ivoire (PANA) -- A meeting of transport, economy and finance ministers from 11 Air Afrique member states opened in Abidjan Wednesday to examine proposals tabled by the World Bank to solve the company's worst financial crisis. Full text...

  • NSE Daily Equities Trading
    06 june 2001 18:00:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Wednesday, 6 June 2001. Full text...

  • Petrol price reaches all-time high in South Africa
    06 june 2001 17:48:00
    Cape Town- South Africa (PANA) -- The retail price of petrol in South Africa reached a new all-time high Wednesday when it increased by 14 cents a litre (R8 = 1 USD) to R4. Full text...

  • Sun Resorts rake in 247 million rupees in profits
    06 june 2001 15:37:00
    Port Louis- Mauritius PANA) -- The leading hotel group in Mauritius, Sun Resorts, announced Wednesday it earned 247 million rupees in profits in the first quarter of this year as compared to 233 million rupees (29. Full text...

  • Kufuor confers with Mbeki
    06 june 2001 15:18:00
    Cape Town- South Africa (PANA) -- Ghanaian President John Kufuor, who is attending the World Economic Forum (WEF) Summit in Durban, met Wednesday with his South African counterpart Thabo Mbeki to discuss economic and defence co-operation between their two countries. Full text...

  • DR Congo holds 2nd telecoms exhibition next week
    06 june 2001 15:08:00
    Kinshasa- DR Congo (PANA) -- The second DR Congo (DRC) telecommunications exhibition will be held in Kinshasa from 13 to 16 June. Full text...

  • DR Congo put measures in place to stabilise economy
    06 june 2001 14:34:00
    Kinshasa- DR Congo (PANA) -- The DR Congo government is on a campaign to extend and explain recent economic and financial measures adopted to stabilise the country's macro-economic environment. Full text...

  • Banana industry under threat, say experts
    06 june 2001 14:13:00
    Yaounde- Cameroon (PANA) -- The banana industry is under threat in Cameroon, as the Cotonou Agreement between the EU and the ACP countries allocated the country a quota of 160,000 tonnes, out of a total production of 250,000 tonnes, according to experts and operators in Yaounde. Full text...

  • Damage to power-line disrupts electricity supply
    06 june 2001 13:50:00
    Lagos- Nigeria (PANA) -- Nigeria's power company NEPA has announced power disruption in 13 of the country's 36 States due to the vandalisation of its 330-KV transmission line between the mid-western Benin city and the south-eastern city of Onitsha. Full text...

  • Protests mark start of World Economic Forum Summit
    06 june 2001 13:23:00
    Cape Town- South Africa (PANA) -- A number of peaceful protests against the World Economic Forum/Southern Africa Economic Summit were Wednesday being staged in major cities around South Africa as the Summit got underway in the port city of Durban. Full text...

  • South Africans cry out against fuel hike
    06 june 2001 08:32:00
    Johannesburg- South Africa (PANA) -- South Africans have angrily reacted to a 14-cent hike in the price of a litre of petrol, effective Wednesday. Full text...

  • Morocco's energy bill soars to 2.14 billion dollars
    05 june 2001 22:22:00
    Rabat- Morocco (PANA) -- Morocco spent 2. Full text...

  • NSE Daily Equities Trading
    05 june 2001 21:28:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Tuesday when a total of 14. Full text...

  • Authorities shut up bank linked to money laundering
    05 june 2001 21:04:00
    Lusaka- Zambia (PANA) -- The Bank of Zambia Tuesday closed down United Bank of Zambia which is currently under probe for suspected money laundering by its top managers. Full text...

  • Ethiopia to host international conference on ICT
    05 june 2001 17:52:00
    Addis Ababa- Ethiopia (PANA) -- A conference on Ethiopia's Information and Communication Technology and its development has been scheduled for 18-20 June in Addis Ababa. Full text...

  • Absa and Dimension Data form alliance in South Africa
    05 june 2001 17:21:00
    Cape Town- South Africa (PANA) -- Financial services group, Absa, has formed a strategic alliance valued at approximately 12. Full text...

  • Debt, the Gordian knot of development in Africa
    05 june 2001 17:04:00
    Dakar- Senegal (PANA) -- While the continent continues to be associated with natural disasters which in fact affect the entire world (AIDS, tuberculosis, malaria), debt, another "silent disaster," continues to inhibit Africa's development. Full text...

  • Cross listing of stock exchanges to boost integration
    05 june 2001 16:26:00
    Paris- France (PANA) -- With international trends currently pointing to mergers of stock exchanges, the East African Community has likewise embarked on moves aimed at creating a single regional stock exchange to mobilise financial resources to drive private sector activity. Full text...

  • Cote d'Ivoire not due French assistance before 2002
    05 june 2001 15:48:00
    Abidjan- Cote d'Ivoire (PANA) -- The French government has, to the disappointment of the authorities in Abidjan, ruled out any possibility of resuming economic assistance to Cote d'Ivoire before 2002. Full text...

  • Kenya Airways boosts investment
    05 june 2001 15:15:00
    Nairobi- Kenya (PANA) -- Kenya Airways is to invest a staggering 81 billion Kenyan shillings (1US dollar = 80 Ksh) in the improvement of its fleet and customer service, managing director Brian Presbury hinted at the start of the week. Full text...

  • Mali ships cotton via Lome
    05 june 2001 14:58:00
    Lome- Togo (PANA) -- A convoy of eleven trucks, loaded with 230 tonnes of Malian cotton, arrived in Lome Port at the weekend, where Mali's textile exports would henceforth transit. Full text...

  • South Korean company invests in Kinshasa public transport
    05 june 2001 14:46:00
    Kinshasa- DR Congo (PANA) -- South Korean group Komyung has announced it is setting up a public transport company named "Congo Korea Trans" in Kinshasa that would operate 500 buses. Full text...

  • SADC energy ministers to visit Inga dam
    05 june 2001 14:14:00
    Kinshasa- DR Congo (PANA) -- Energy ministers from the Southern Africa Development Community (SADC) will soon visit the Inga hydroelectricity dam in DR Congo, Kinshasa sources hinted Tuesday. Full text...

  • Share index goes down on the Lusaka Exchange
    05 june 2001 13:36:00
    Lusaka- Zambia (PANA) -- The all share index on the Lusaka Stock Exchange has gone down by more than five points after the share price for the Standard Chartered Bank stock went down by two kwacha (1 USD = K3,000). Full text...

  • Nigeria seeks Switzerland's help on looted funds
    05 june 2001 13:10:00
    Lagos- Nigeria (PANA) -- Nigeria has renewed its call for assistance from the Swiss government to recover billions of naira in public funds, allegedly stolen by top officials of previous governments and stashed away in Swiss and other European banks. Full text...

  • Zimbabwe and recovery plan to dominate economic summit
    05 june 2001 12:54:00
    Cape Town- South Africa (PANA) -- The political crisis in Zimbabwe and the Millennium Africa Recovery Plan (MAP) are expected to dominate the World Economic Forum's (WEF) Southern African Economic Summit which begins in Durban on Wednesday. Full text...

  • Investors eye Malawi's mining industry
    04 june 2001 19:33:00
    Lilongwe- Malawi (PANA) -- A top South African mining company and several other British firms are soon expected to venture into multi-million kwacha mining projects in Malawi's potentially rich but untested mining industry. Full text...

  • Ethiopia gets 112 million-dollar IMF loan
    04 june 2001 19:07:00
    Addis Ababa- Ethiopia (PANA) -- The International Monterey Fund (IMF) has approved 112 million dollars loan to support Ethiopia's economic reforms over three years, the press reported in Addis Ababa Monday. Full text...

  • Bank of China entrenches itself in Zambia
    04 june 2001 18:27:00
    Lusaka- Zambia (PANA) -- The Zambian branch of the Bank of China (BOC) has consolidated its hold on the local market with its total assets rising to 47,485. Full text...

  • Reserve Bank's Gold, Forex reserves unchanged
    04 june 2001 18:08:00
    Cape Town- South Africa (PANA) -- The South African Reserve Bank Monday announced that its provisional gross gold and foreign exchange reserves amounted to 7. Full text...

  • Shell to establish filling stations
    04 june 2001 18:00:00
    Lagos- Nigeria (PANA) -- Anglo-Dutch oil giant Shell, is joining the fuel retail business in Nigeria by establishing filling stations across the country. Full text...

  • Authorities investigate bankers for money laundering
    04 june 2001 16:47:00
    Lusaka- Zambia (PANA) -- Zambia's Drug Enforcement Commission (DEC) has seized passports of senior managers at the United Bank of Zambia following reports of money laundering at the financial institution. Full text...

  • Mogae to attend economic summit in South Africa
    04 june 2001 16:38:00
    Gaborone- Botswana (PANA) -- Botswana president Festus Mogae leaves Wednesday for South Africa to attend a regional economic summit in which he will lead discussions on leadership commitment in the fight against HIV/AIDS. Full text...

  • Zimbabwe's biggest car plant shut down
    04 june 2001 15:35:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's biggest car assembly plant suspended production Monday due to what officials called lack of foreign currency to import components. Full text...

  • Spreading the seeds for African Renaissance
    04 june 2001 13:46:00
    Cape Town- South Africa (PANA) -- The post-apartheid South African government regards the upcoming OAU Summit in Lusaka as critical to its vision of creating a united African Union and progressing with the African Renaissance. Full text...

  • Mauritius records 2-percent increase in tourism
    03 june 2001 12:59:00
    Port Louis- Mauritius (PANA) -- Mauritius recorded a two- percent rise in the number of foreign tourists in the first quarter of this year as compared to the same period in 2000. Full text...

  • Equities transactions decline in Nigerian Stock Exchange
    02 june 2001 18:33:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) equities transacted during the week declined as a total of 93. Full text...

  • Sudan gets its first private locomotive
    02 june 2001 16:14:00
    Khartoum- Sudan (PANA) -- Sudan's first private railway locomotive was delivered at the Red Sea harbour of Port Sudan, press reports said Saturday. Full text...

  • Mogae warns against world recession
    02 june 2001 14:27:00
    Gaborone- Botswana (PANA) -- Botswana president Festus Mogae Friday warned that the expected slow-down in the world economy could adversely affect his country. Full text...

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