Economy -
  • New Bank Opens in Maputo
    12 may 2001 15:36:00
    Maputo- Mozambique (PANA) -- The Mozambican financial landscape is set to change with the opening on Friday of a new private bank, the BDC (Development and Commerce Bank) in Maputo. Full text...

  • New regulation to streamline Egypt's trade in COMESA
    12 may 2001 15:03:00
    Nairobi- Kenya (PANA) -- Egyptian diplomatic missions in countries comprising the Common Market for Eastern and Southern Africa will, beginning this month, be required to endorse trade certificates of origin to facilitate the exporting of goods to Egypt. Full text...

  • NSE all-share index hits 10,000 mark
    12 may 2001 12:48:00
    Lagos- Nigeria (PANA) -- The Nigerian Stock Exchange (NSE) made history in the country's capital market as its All-Share Index crossed the 10,000 mark. Full text...

  • Troubled NITEL eases hold on private networks
    12 may 2001 12:28:00
    Lagos- Nigeria (PANA) -- Nigeria's state-owned telecommunications giant NITEL has signed new interconnectivity agreement with the eight Private Telecommunications Operators (PTOs) in the country to ease their operation, even as the company grapples with a near-collapse of its own system. Full text...

  • Competition makes Zimbabwean banks customer friendly
    12 may 2001 11:54:00
    Harare- Zimbabwe (PANA) -- Can you imagine your bank sending you on an all expenses paid trip overseas to scout for export markets? Or sponsoring your business to take part at a trade fair? Welcome to Zimbabwe's competition-inspired banking dynamism, which is sending clients into frenzy. Full text...

  • NSE equities daily trading
    11 may 2001 23:12:00
    Lagos- Nigeria (PANA) -- Following is the daily equities trading at the Nigeria Stock Exchange for Friday when a total of 52. Full text...

  • Government agape over leakage of major audit report
    11 may 2001 21:55:00
    Lusaka- Zambia (PANA) -- Authorities in Lusaka have expressed dismay over the leakage of an incomplete draft audit report of the Zambia Consolidated Copper Mines (ZCCM) Cobalt sales for 1998/1999, prepared by Mauritian chartered accountants, De Cazal Du Mee (DCDM). Full text...

  • Third LDCs Conference Opens Monday in Brussels
    11 may 2001 21:36:00
    Brussels- Belgium (PANA) -- Three African presidents will attend the third international meeting on Least Developed Countries due to open Monday in Brussels, it has been officially announced. Full text...

  • Malawi capital runs dry as water workers strike
    11 may 2001 14:49:00
    Blantyre- Malawi (PANA) -- There were running battles in the Malawi capital Lilongwe Friday as armed police officers in riot gear chased striking workers of the Lilongwe Water Board out of their premises. Full text...

  • Inflation rate declines in Botswana
    11 may 2001 14:10:00
    Gaborone- Botswana (PANA) -- Botswana's annual inflation rate decreased this year by 0. Full text...

  • Air Tanzania resumes flights to DR Congo
    11 may 2001 14:01:00
    Dar es Salaam- Tanzania, (PANA) -- Cash-strapped Air Tanzania Corporation (ATC) Friday resumed weekly flights to DR Congo's southern city of Lubumbashi after several months of postponement due to security problems. Full text...

  • Nigeria slates biggest trade fair for November
    11 may 2001 13:36:00
    Lagos- Nigeria (PANA) -- The 16th edition of Nigeria's biggest trade jamboree, the Lagos International Trade Fair, will hold in November, officials at the Lagos Chamber of Commerce and Industry (LCCI) say. Full text...

  • Company shuts oil terminal following protests
    11 may 2001 13:23:00
    Lagos- Nigeria (PANA) -- Nigeria's daily crude oil production of about 2 million barrels has fallen short by 600,000 barrels after rampaging youths forced the shutdown of an oil plant of the American company, Mobil, in the south-eastern state of Akwa Ibom. Full text...

  • 50 billion CFA francs needed to save Air Afrique
    11 may 2001 13:12:00
    Abidjan- Cote d'Ivoire (PANA) -- Ivorian Transport minister Aime Kabran Appiah has said the multinational company, Air Afrique, needs 50 billion CFA francs (1 US dollar = 700 FCFA) if it is to avoid floundering. Full text...

  • Niger Prime Minister on working visit to Belgium
    11 may 2001 12:47:00
    Niamey- Niger (PANA) -- Niger's Prime Minister Hama Amadou was Friday off to Brussels for a weeklong working visit in Belgium, sources in Niamey said. Full text...

  • Kenya moves to protect local textile industry
    11 may 2001 09:46:00
    Nairobi- Kenya (PANA) -- In a move to protect the local textile industry, the authorities in Kenya say they will impose conditions to discourage importers who bring into the country sub-standard goods. Full text...

  • ADF credits Benin 17.64 million dollars
    10 may 2001 22:35:00
    Dakar- Senegal (PANA) -- The ADF Thursday approved 17. Full text...

  • Congo bans shark fishing
    10 may 2001 22:08:00
    Brazzaville- Congo (PANA) -- The Congolese government Thursday said shark fishing in territorial waters of the country is banned effective 15 May in order to protect their species, currently endangered by poaching on Pointe-Noire's Atlantic coast. Full text...

  • Senegal's air traffic drops
    10 may 2001 21:18:00
    Dakar- Senegal (PANA) -- A 5. Full text...

  • Economic Integration: Africa advances in scattered ranks
    10 may 2001 17:45:00
    Dakar- Senegal (PANA) -- It might sound an overstatement, but the number of economic groupings across Africa borders on proliferation, so much so that donor partners are beginning to find co-operation with the configuration cumbersome. Full text...

  • Economic Integration: Africa advances in scattered ranks
    10 may 2001 17:44:00
    Dakar- Senegal (PANA) -- It might sound an overstatement, but the number of economic groupings across Africa borders on proliferation, so much so that donor partners are beginning to find co-operation with the configuration cumbersome. Full text...

  • Microsoft unveils product in Kenya
    10 may 2001 16:51:00
    Nairobi Kenya (PANA) -- Microsoft East Africa, a subsidiary of Microsoft Plc Thursday introduced Microsoft Office XP to the Kenyan market ahead of the launching proper billed for 31 May. Full text...

  • South Africa establishes economic advisory council
    10 may 2001 15:29:00
    Cape Town- South Africa (PANA) -- Western Cape (South Africa) Premier Gerald Morkel Thursday announced the establishment of an economic advisory council with members drawn from both business and government. Full text...

  • Labour disputes ruin companies in Zimbabwe companies
    10 may 2001 15:21:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's biggest business group warned Thursday more and more companies would shut down if the government does not reign in former fighters of the country's war of independence invading companies to settle labour disputes. Full text...

  • Inflation rate down in Senegal
    10 may 2001 15:20:00
    Dakar- Senegal (PANA) -- Senegal's annual rate of inflation was 0. Full text...

  • Zimbabwe lifts ban on South African livestock products
    10 may 2001 15:11:00
    Harare- Zimbabwe (PANA) -- Zimbabwe said Thursday it had lifted a ban on imports of livestock products from South African after receiving assurances Pretoria had brought an outbreak of foot and mouth disease under control. Full text...

  • IMF lending to Kenya could resume in August
    10 may 2001 15:00:00
    Nairobi- Kenya (PANA) -- The much-anticipated Western donor support to Kenya's budget is expected to resume in August, according to Finance Minister Chris Okemo. Full text...

  • Zimbabwe, Namibia oil companies barter
    10 may 2001 14:58:00
    Harare- Zimbabwe (PANA) -- A group of Zimbabwean companies have signed an agreement with a Namibian dealer to swap fuel for Zimbabwean goods, sources involved in the deal hinted Thursday. Full text...

  • Sugar shortage brings problems to Burundi
    10 may 2001 10:21:00
    Bujumbura- Burundi (PANA) -- The director general of the state-owned Sugar Production and Wholesale Company (SOSUMO), Nimery Barutwanayo, has accused the local traders of causing an "artificial" sugar shortage that is affecting consumers in the country. Full text...

  • Cairo, Tripoli move to strengthen cooperation
    09 may 2001 23:23:00
    Tripoli- Libya (PANA) -- Egypt and Libya have expressed total willingness to implement all agreements between them as well as eliminate obstacles to starting joint strategic projects. Full text...

  • Guinea Bissau joins EDF fishing project
    09 may 2001 23:11:00
    Bissau- Guinea Bissau (PANA) -- Guinea Bissau is among 25 African countries included in the five-year European Development Fund fishing programme under which FAO would provide 35 million US dollars to each of them. Full text...

  • Coffee production drops by 40 percent in Burundi
    09 may 2001 22:08:00
    Bujumbura- Burundi (PANA) -- Authorities in Bujumbura have predicted that coffee production in Burundi would drop by 40 percent this year to about 18,500 tonnes from the 31,000 tonnes produced in 2000 due to low rainfall and attacks by pests on the crop. Full text...

  • Ten Arab Countries Agree On A Common Market
    09 may 2001 20:37:00
    Rabat- Morocco (PANA) -- Ten countries in the Mediterranean region have agreed on an extended free Arab trade zone as a step toward creation of a future common Arab market, it was officially announced Wednesday. Full text...

  • China gives Mauritius equipment worth 15.5 million rupees
    09 may 2001 20:13:00
    Port Louis- Mauritius (PANA) -- China's ambassador in Mauritius, Xia Shouan on Wednesday handed over agricultural and health equipment worth 15. Full text...

  • Mozambique raises minimum wage by 17 percent
    09 may 2001 17:45:00
    Maputo- Mozambique (PANA) -- The Mozambican government has, as expected, decreed a 17 percent increase in the statutory minimum wage of the country's workers. Full text...

  • Mozambique Telcoms prepared to invest in Zambezia
    09 may 2001 17:35:00
    Maputo- Mozambique (PANA) -- The state-owned Mozambican Telecommunications Company (TDM) is prepared to invest 7. Full text...

  • Namibia's exchange rates for Wednesday
    09 may 2001 16:41:00
    Windhoek- Namibia (PANA) -- Following are the daily exchange rates against the Namibian dollar for Wednesday afternoon, as provided by the First National Bank's Treasury Division: [ST] Dollar/Commercial Rand: 7. Full text...

  • Air Mauritania orders strikers to resume work
    09 may 2001 16:34:00
    Nouakchott- Mauritania (PANA) -- Air Mauritania has issued its striking technical flight personnel with an ultimatum to return to work within three days or consider themselves fired. Full text...

  • Ethiopian Export Promotion Agency eyes diversity
    09 may 2001 16:10:00
    Addis Ababa- Ethiopia (PANA) -- Ethiopia's Export Promotion Agency has unveiled a five-year plan to improve the quality of commodities and diversify the country's foreign exchange earnings. Full text...

  • Mediterranean states work to create Arab free-trade zone
    09 may 2001 15:08:00
    Rabat- Morocco (PANA) -- Morocco, Jordan, Tunisia and Egypt Tuesday have decided to work for the setting up of an Arab Free- Trade Zone (ZALE) comprising Mediterranean Arab countries. Full text...

  • Morocco hosts African conference on fisheries
    09 may 2001 14:14:00
    Rabat- Morocco (PANA) -- Ahead of the 5th ministerial conference on fishing cooperation between African States along the Atlantic Ocean, a committee of experts has begun sizing up the execution of an action plan adopted at the previous conference in October 1999. Full text...

  • Malian imports through Cote d'Ivoire drop drastically
    09 may 2001 13:48:00
    Abidjan- Cote d'Ivoire (PANA) -- Malian imports through Cote d'Ivoire estimated at 150 billion CFA francs (1 US dollar = 700 CFA francs) have substantially dropped, the Ivorian Chamber of Commerce and Industry (CCI) said. Full text...

  • Western Cape Premier lauds trip to USA
    09 may 2001 13:18:00
    Cape Town- South Africa (PANA) -- Western Cape Premier Gerald Morkel said his visit to California and Florida would encourage the exchange of knowledge and skills between the people of South Africa and the United States. Full text...

  • Troubled Zambian state bank hesitant about private shares
    09 may 2001 13:13:00
    Lusaka- Zambia (PANA) -- The Zambian government, through its privatisation agency, is sifting deeper for a viable option in its bid to bail the state-owned Zambia National Commercial Bank out of a continuing crisis. Full text...

  • Kuwait resumes oil supplies to Zimbabwe
    09 may 2001 11:46:00
    Harare- Zimbabwe (PANA) -- A Kuwaiti company Wednesday resumed fuel shipments to Zimbabwe after it received 10 million US dollars in arrears for earlier supplies. Full text...

  • Zimbabwe government's internal debt on the decline
    09 may 2001 11:38:00
    Harare- Zimbabwe (PANA) -- Zimbabwe's high government domestic debt, blamed for fuelling inflation and interest rates, has declined slightly to 177 billion Zimbabwean dollars due mainly to tighter expenditure control, the Central Bank said Wednesday. Full text...

  • Niger increases fiscal budget by 20 billion francs
    08 may 2001 21:52:00
    Niamey- Niger (PANA) -- The government in Niger Tuesday augmented its current fiscal budget by 20 billion CFA francs, according to an official statement following a cabinet meeting. Full text...

  • Southern Africa Economic Summit Set for Durban
    08 may 2001 21:09:00
    Windhoek- Namibia (PANA) -- Southern African political and business leaders are due to meet early June in Durban, South Africa, for an economic summit which organisers say will address the most challenging problems facing the subregion. Full text...

  • Finance ministers size up Africa's economic options
    08 may 2001 18:02:00
    Dakar- Senegal (PANA) -- The 9th joint conference of African economy and finance ministers rolled off Tuesday in Algiers, Algeria with Zimbabwe's Simba Makoni urging for a common united front in the drive for the continent's development. Full text...

  • Zambian kwacha loses ground
    08 may 2001 17:24:00
    Lusaka- Zambia (PANA) -- The Central Bank in Zambia was Tuesday auctioning a million US dollars in a bid to shore up the strength of the local kwacha that sagged three per cent on Monday's trading. Full text...

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