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Trends In The Air-Freight Business

Trends In The Air-Freight Business

WHEN people think of air travel they picture planes full of passengers. But air cargo is as vital—perhaps more—to the global economy. Only 1% of exports by volume go in aircraft but because they tend to be the most expensive goods, they account for 35% of global trade by value. Nearly everyone has used products […]

Botswana’s 300 MW Power Plant Stalled Over $800m Guarantee Dispute

Botswana’s 300 MW Power Plant Stalled Over $800m Guarantee Dispute

The 300 megawatt (MW) expansion of two units at Botswana’s Morupule B coal fired power plant has been delayed due to a dispute with the contractor over an $800 million guarantee, a cabinet minister said on Wednesday. Japan’s Marubeni and South Korea’s Posco Energy were last year awarded the contract for the expansion, but a […]

Lower House Committee To Probe Oil License Deal

Lower House Committee To Probe Oil License Deal

Nigeria’s lower house of parliament has set up a committee to investigate the circumstances surrounding the award of oil prospecting licence (OPL) 245, the committee chairman said on Wednesday. Courts in Nigeria and Italy are investigating the purchase of the offshore block which was initially awarded in 1998 to Malabu Oil and Gas, in a […]

New Law Compels Zimbabwe Banks to Accept Cows as Collateral

New Law Compels Zimbabwe Banks to Accept Cows as Collateral

Commercial banks in Zimbabwe will soon be compelled to accept livestock such as cattle, goats and sheep as collateral for cash loans to informal businesses under a new law presented to parliament Tuesday. Under the Movable Property Security Interests Bill tabled for debate by Finance and Economic Development Minister Patrick Chinamasa in the House of […]

South Africa’s $72 Billion Nuclear Project To Move In June

South Africa’s $72 Billion Nuclear Project To Move In June

South Africa’s tender for the estimated 1 trillion-rand ($72 billion) expansion of its nuclear power plants will begin in June when state utility Eskom requests proposals from companies bidding for the project, City Press newspaper reported on Sunday. South Africa, which has Africa’s only nuclear power station, wants nuclear power to play the leading role […]

Nigeria To Require Higher Quality On Fuel Imports From July 1

Nigeria To Require Higher Quality On Fuel Imports From July 1

Nigeria will increase quality standards for its imported gasoline, diesel and kerosene from July 1, a change health campaigners have long said is necessary to protect citizens from toxic fuel. All imported diesel from July 1 can contain a maximum of 50 ppm sulphur, while gasoline and kerosene can contain a maximum of 150 ppm, […]

An Oil Giant Is Still Burning Through Its Cash Pile

An Oil Giant Is Still Burning Through Its Cash Pile

It was meant to be a given that a rebound in oil prices would slow the depletion of Saudi Arabia’s foreign-currency reserves. That hasn’t happened yet, and economists are wondering why. Net foreign assets held by the Saudi central bank have fallen by an average $6.5 billion a month over the past year, and now […]

Ivory Coast Plays Blame Game for Cocoa Crisis in Top Grower

Ivory Coast Plays Blame Game for Cocoa Crisis in Top Grower

Ivory Coast’s cocoa regulator pointed to speculators and prospects for a glut as the reason for a slump in futures that forced the nation to cut the price it pays farmers. There was something it didn’t blame: Itself. Le Conseil du Cafe-Cacao also said a volatile pound and defaults by local exporters contributed to a […]

Samsung’s Sleek S8 Has Curved Screen, Facial Recognition

Samsung’s Sleek S8 Has Curved Screen, Facial Recognition

  Samsung Electronics Co. knows it needs to get its new flagship smartphone right. Apart from making sure the gadget won’t cause bodily harm, the company packed it with a plethora of new features: taller, curved screens, encrypted facial recognition, deeper display colors, system-wide voice control and the ability to turn into a desktop computer. The […]

Sterling Drops as May Signs Brexit Trigger for Process to Begin

Sterling Drops as May Signs Brexit Trigger for Process to Begin

  Sterling fell in early Asian trading as investors brace for the start of the two-year negotiation for the U.K. to leave the European Union. The pound fell as much as 0.6 percent to 1.2377 per dollar, and was the worst performer among the Group-of-10 which saw muted trading. Some funds left it late in […]