JOHANNESBURG (Reuters) – Nigeria’s United Bank for Africa (UBA) said on Monday it has expanded into the Middle East, setting up operations in the United Arab Emirates. The new branch located in the Dubai International Financial Centre will serve customers across the region and focus on correspondent banking, relationship management and advisory services, UBA said …
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JOHANNESBURG (Reuters) – South African fuel and petrochemical company Sasol Ltd will restart its refinery by the end of July, it said on Sunday, after the company declared force majeure at its second biggest refinery on Friday due to a lack of crude oil. The shutdown of the Natref refinery located around 100 kilometres from …
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CAIRO (Reuters) -Egyptian property company Madinet Nasr for Housing and Development has rebuffed a takeover bid by rival SODIC, saying on Sunday the offer did not represent the company’s true value and calling on SODIC to reconsider it. MNHD’s board said it was prepared to restart work to conclude a deal if SODIC put forward …
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By Aaron Ross and Helen Reid DAKAR/JOHANNESBURG (Reuters) – CMOC’s Tenke Fungurume copper and cobalt mine has suspended all exports, logistics companies were told in a notice seen by Reuters late on Saturday, complying with demands by a court-appointed administrator. A CMOC spokesman did not immediately reply to a request for comment but had said …
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JOHANNESBURG (Reuters) – Rolling power cuts in South Africa should come to an end by the end of next week as more power generation units come online, the chief executive of state power utility Eskom, Andre de Ruyter, said on Saturday. Last month Eskom started implementing so-called “Stage 6” power cuts – or load shedding …
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ACCRA (Reuters) – Ghana’s government has averted a planned strike by public sector workers over pay, reaching an agreement with the country’s main labour unions to increase the cost of living allowance by 15%, the finance ministry said on Friday. The trade unions, including teachers and health sectors workers had planned to strike in the …
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By Andrea Shalal (Reuters) – The United States has not ruled out more comprehensive trade negotiations with Kenya after launching a strategic trade and investment partnership with the African country on Thursday, Deputy U.S. Trade Representative Sarah Bianchi told Reuters. Bianchi said U.S. trade officials viewed the agreement with Kenya as a potential model for …
U.S. doesn’t rule out more comprehensive trade negotiations with Kenya -official Read More »
(Reuters) -South African stocks closed higher on Friday, helped by mobile groups MTN and Telkom which announced they were in merger talks. Telkom’s shares rose over 26%, its biggest one-day percentage jump on record, while MTN advanced 5%. The potential $1 billion-plus deal would give MTN access to Telkom’s fibre assets, seen as a must …
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JOHANNESBURG (Reuters) – Gold Fields shareholders are starting to better understand the miner’s proposed acquisition of Yamana Gold, CEO Chris Griffith said on Friday as he tries to win investors over to the deal that was negatively received by the market. “Many shareholders are starting to say ‘we get it’,” Griffith told reporters. Griffith said …
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(Corrects to 3.5 gigahertz not 3.2 in paragrapth 13) By Nqobile Dludla JOHANNESBURG (Reuters) -South African mobile group MTN is in talks to buy smaller rival Telkom in a stock or cash-and-shares deal that would leapfrog market leader Vodacom Group. The potential $1 billion-plus deal would give MTN access to Telkom’s fibre assets, seen as …
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