Africa
Nigerian Court Upholds Order Freezing Revenue From Statoil's Agbami Field A Nigerian court upheld an order
for Statoil ASA to set aside revenue from its offshore Agbami
oil field following a compensation claim from a former adviser.
CTC Suspends Congolese Operation Over Government's Non-Payment of Contract A U.S.-registered consulting firm
hired to modernize the Democratic Republic of Congo’s customs
agency has suspended operations over a payment dispute with the
government.
Kenya Power Costs May Decline as Improved Rains Boost Hydroelectric Plants Power costs in Kenya, East Africa’s
largest economy, may fall as seasonal rains raise water levels
at the nation’s hydroelectric plants, Kenya Power and Lighting
Co., the country’s only distributor of electricity, said.
Nigerian Coca-Cola Bottler to Expand Plants, Offer New Products, CEO Says Nigerian Bottling Co., which
bottles Coca-Cola products in Africa’s most populous nation,
will expand existing plants and introduce new products to cater
for changing tastes, Chief Executive Officer Jim Lafferty said.
Ghana's Government Planning to Sell a Diamond Mine and a Timber Plantation Ghana plans to sell a diamond mine,
a plantation and a sawmill as part of a sale of state assets,
the Divestiture Implementation Committee said.
South Africa Stocks Rise, Led By Bidvest, Ceramic, Mondi, Richemont, Sappi South Africa’s FTSE/JSE Africa All
Share Index rose 189.53, or 0.7 percent, to 28,087.67, paring
yesterday’s 0.8 percent drop.
BlueBay Pays $67 Million For 44.44% Stake in South Africa's Foodcorp Ltd. BlueBay Asset Management Plc, a
London-based fund manager, bought a 44.44 percent stake in South
African food producer Foodcorp Ltd. for 495.51 million rand ($67
million).
Rand May Breach 10 Per Euro, 1st Time in 2 Years, Rand Merchant Bank Says The rand is poised to strengthen
beyond the 10 per-euro mark for the first time in more than two
years as fiscal difficulties weaken the common currency used by
16 European countries, says Rand Merchant Bank.
Tullow Expects Gazprom, Namcor to Join Development of Namibia's Kudu Field Tullow Oil Plc, the U.K. explorer
with the most drilling licenses in Africa, said OAO Gazprom may
join its Namibian Kudu project.
South African Inflation Policy Is Right One, Must be Flexible, IMF Says South Africa should continue to
pursue its inflation targeting policy, though it must show
“some flexibility,” said Dominique Strauss-Kahn, managing
director of the International Monetary Fund.
Sudan Needs Darfur Peace Deal Before Elections, U.S.Envoy Gration Says Time is running out for negotiators
to deliver a peace agreement in Sudan’s western Darfur region
before next month’s general elections and a 2011 referendum on
independence for the oil-producing south, a top U.S. envoy said.
Congo Offers $50 a Gun in Bid to End Conflict in Restive North Kivu Region The Democratic Republic of Congo’s
government said it began a new weapons-exchange program in the
war-torn eastern province of North Kivu, offering residents $50
per weapon handed in.
ANC Youth League `Losing Confidence' in South Africa's Gordhan Over Budget The youth wing of South Africa’s
ruling African National Congress said it is “losing
confidence” in Finance Minister Pravin Gordhan and will raise
its concerns about the minister with the party’s leadership.
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