Egypt’s stock market loses EGP 4 billion after flight disappearance

Egypt’s stock market loses EGP 4 billion after flight disappearance

The Egyptian Exchange (EGX) indexes were all down early on Thursday 's trading backed by the disappearance of EgyptAir plane in its flight between Paris and Cairo.Market ...

Mixed fortune for Egypt stock market

Mixed fortune for Egypt stock market

The Egyptian Exchange (EGX) indexes showed mixed performance at the close of trading on Wednesday due to share sales by institutions and local investment funds.The market capital ...

Liberia’s Sirleaf makes recommendations for economic recovery

Liberia’s Sirleaf makes recommendations for economic recovery

Liberia President Ellen Johnson Sirleaf has recommended that certain decisions in the short and medium terms be considered by government if the nation's economy must withstand the ...

Egypt: Tuesday stocks rally to EGP4.47b

Egypt: Tuesday stocks rally to EGP4.47b

Egyptian Exchange (EGX) indexes made gains at the end of Tuesday's trading backed by share purchase activities by local, Arab and foreign investment institutions and funds.The ...

BOA Benin’s profit down by more than 36 percent in Q1 of 2016

BOA Benin’s profit down by more than 36 percent in Q1 of 2016

The profit of Bank of Africa (BOA) Benin, a subsidiary of BOA Group, has decreased by 36.32 percent in the first quarter of 2016, APA learns on Monday from the Cotonou based banking ...

Nigeria set to float national carrier

Nigeria set to float national carrier

Nigeria's Minister of State for Aviation, Mr. Hadi Sirika, has said that the government will soon appoint the Transition Adviser that will develop the process for the establishment ...

State oil firm could do more for economy – Mozambican PM

State oil firm could do more for economy – Mozambican PM

Mozambican Prime Minister, Carlos Agostinho do Rosario has challenged the state oil firm, Petromoc to take the lead in supplying the domestic fuel market and make valuable ...

NASCON to restore operations in vegetable-oil, tomato paste plants

NASCON Allied Industries says it is evolving strategies that will allow it to put its shut vegetable-oil plant in Lagos and tomato paste plant in Ogun back in operation. Mrs. Yemisi Ayeni, the company's new Chairperson, made the promise at the 2015 Annual General Meeting (AGM) of the company held on Thursday in Lagos. Ayeni said the upgrade was to enhance efficiency of the production lines and guarantee ...

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Experts want CBN to retain rates, map out strategies to rejuvenate economy

Some financial experts have urged the Central Bank of Nigeria (CBN) to retain its Monetary Policy Rate (MPR), Cash Reserve Requirement (CRR) and focus on rejuvenating the economy. They said in separate interviews that the current economic reality required a policy framework that would reposition the economy for greater productivity. The experts spoke ahead of the 250th CBN Monetary Policy Committee (MPC) ...

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S/Africa’s repo rate remains unchanged at 7 percent – SARB

The South African Reserve Bank's Monetary Policy Committee (MPC) has kept South Africa's repo rate unchanged at seven percent per annum, SARB governor Lesetja Kganyago has said. Speaking during a media briefing on Thursday, Kganyago said five members of the MPC preferred no change, while one member preferred to have a 25 basis point increase. “The Monetary Policy Committee felt that there is some room to ...

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Nigeria: Minister lists benefits of petrol price increase

Nigeria's Minister of Information and Culture Lai Mohammed, has said the benefits of the recent increase in pump price of petrol will surpass the pains currently borne by Nigerians. Mohammed said this in Abuja at a meeting between the Federal Government and the national and state executives of the All Progressives Congress (APC). The meeting was an interface to keep the party's top officers abreast of recent ...

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Malawi launches national strategy for quality products

Malawi has launched its national quality strategy to improve the standards of products made in the country using a scheme that would last a period of five years from 2016 to 2020.Chief Director in the Ministry of Industry and Trade, Charles Kambawuwa said on Thursday in Blantyre that the strategy provides a clear demonstration of government's intention to deepen a culture of quality in bot its light and ...

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Egypt’s trade deficit dropped 22 percent in February- official

Egypt's trade deficit declined by about 22 percent in February 2016 compared to February 2015, according to a report issued on Thursday by the Central Agency for Public Mobilisation and Statistics (CAPMAS).Balance of trade is an economic measure of the difference in value between a country's imports and exports during a given period. According to CAPMAS, the trade deficit was EGP 22.4bn (1$=8.87 EGP) in ...

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Malawi President opens 2016/17 Budget meeting

Malawi President Peter Mutharika will on Friday officially open the 2016/17 Budget meeting of Parliament in the capital Lilongwe.Speaker of the National Assembly, Richard Msowoya said Thursday that the president is expected to deliver his State of the Nation Address to Malawians. “Members will start debating on the statement from the president on Monday for a period of two weeks,� he said. He added that ...

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Egyptian leader approves loan for nuclear power plant

A $25 billion loan from Russia has been approved by Egyptian President Abdel Fatah al-Sisi to build a nuclear power plant in Dabaa in the north of the country. According to the Thursday issue of the Official Gazette, Sisi had met Electricity Minister Mohamed Shaker on Saturday over the issue. Their meeting to review the final contract on the construction of the plan, scheduled to start in the middle of 2016 ...

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C/Ivoire: SOLIBRA to pay over CFA6bn to shareholders

West Africa's leading beverages giant, SOLIBRA which is based in Cote d'Ivoire will pay its shareholders a net dividend of CFA6.750 billion (about $11.476 million), in respect of the 2015 fiscal year. The payment will be effected as of 1st June 2016, the company informed APA in Abidjan on Thursday. This corresponds to a net dividend per share of CFAF4.101 after taking into account income tax securities ...

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Botswana to attend ADB’s “Energy and Climate Change” meeting

Botswana's Minister of Finance and Development Planning, Kenneth Matambo, will leave Gaborone on the 22nd May 2016 to attend the 51st Annual Meeting of the African Development Bank and the 42nd Annual Meeting of the African Development Fund.A statement from Matambo's office states that the meeting to be held under the theme “Energy and Climate Change� will take place in Lusaka, Zambia from the 23rd to ...

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