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Standard Bank report confirms strong growth in Africa's rising middle class

JOHANNESBURG - Africa has experienced substantial growth in its middle class over the past 14 years, according to a study by Standard Bank.The report,...Read more

Standard Bank report confirms strong growth in Africa's rising middle class

19 August 2014 | 1991 Views
JOHANNESBURG - Africa has experienced substantial growth in its middle class over the past 14 years, according to a study by Standard Bank.The report,...

by APO

South Africa's food sector stuck in a low growth cycle - Africa Beckons

09 June 2014 | 2808 Views
The low economic growth environment in South Africa is putting local food value chains under increasing pressure. This is according to Herman Marais, managing partner at Agri-Vie, a Food & Agr...

by Business Reporter

IMF boss praises Africa's 'remarkable' growth

29 May 2014 | 2689 Views
Maputo - IMF managing director Christine Lagarde on Wednesday hailed the leaps made by African economies in the last decade as "nothing short of remarkable”.On the eve of a major conference ...

by AFP

'European Union ready to review trade agreement with Zimbabwe'

10 May 2014 | 4279 Views
ZIMBABWE will soon benefit from the Cotonou Trade Agreement as the European Union (EU) considers reviewing the country's situation at it November meeting, Sapes Trust director Ibbo Mandaza has said....

by Staff Reporter

DHL announces new heads for key Africa regions

22 April 2014 | 2838 Views
CAPE-TOWN, South-Africa, April 22, 2014/ -- DHL Global Forwarding, the air and ocean freight specialist within Deutsche Post DHL (http://www.dpdhl.com), has promote...

by APO

Lufthansa grounded as pilots strike over early retirement,

02 April 2014 | 2535 Views
FRANKFURT - A three-day strike by pilots at Lufthansa over early retirement, which has grounded Germany's largest airline, shows no sign of ending early after management said there would be no fu...

by Staff Reporter

Start Smart targets Africa's SMEs

04 March 2014 | 3408 Views
ACCRA - The data available on privately owned businesses in Africa suggests that close to 90% are classified as Small and Medium Sized Enterprises (SMEs). The staggering statistics come with equally ...

by Staff Reporter

Twitter shares priced At $26 in Initial Public Offering

07 November 2013 | 1941 Views
Twitter has set a price of $26 for its public stock offering and can begin trading on the New York Stock Exchange.The price values the San Francisco-based micro blogging site at $14.1bn, base...

by Staff Reporter

Alibaba set to revolutionize China's retail industry

14 October 2013 | 2076 Views
Alibaba Group's plans to revolutionize China's retail industry, investing $16 billion in logistics and support by 2020, will open up China's vast interior and bring access to hundreds of millions of p...

by Reuters

Obama to nominates a woman as Fed chair

09 October 2013 | 2534 Views
WASHINGTON - Janet Yellen will become the first woman to hold the most powerful job in the world economy after administration officials said that President Barack Obama would nominate her as chair of...

by FT

US launches new $100 banknote

08 October 2013 | 6547 Views
Washington - The United States launches today (Tuesday 08 October) a new $100 bill that comes with, for the iconic greenback, a new touch of colour, as well as special features to foil counterfeiters...

by AFP

AfDB and Made in Africa Foundation Launch Fundraising for Africa50 Infrastructure Fund

27 September 2013 | 2517 Views
NEW YORK - The African Development Bank and Made in Africa Foundation officially launched the fundraising for the Africa50 infrastructure fund on Thursday, Septem...

by APO

Statement at the Conclusion of an IMF Mission to Sierra Leone

14 September 2013 | 1490 Views
FREETOWN, Sierra Leone - An International Monetary Fund (IMF) mission led by Ms. Malangu Kabedi-Mbuyi visited Freetown during September 3–12 to carry out follow-up discussions on Sie...

by APO

Zimtrade & Investment Exhibition Summit - London 2013

09 September 2013 | 3222 Views
On the 29th of November 2013, Zimbawe Business Network (ZBN) launches it's inaugural Winter Trade and Investment Conference.The event,to be held at ILEC Conference Centre, Ibis London Earls Court, 47...

by B E Ngubeni

Asian shares climb to a two-week high, yen retreats, yen retreats

02 September 2013 | 1698 Views
Asian shares climbed to a two-week high on Monday, and the Australian dollar and copper gained, as China said its manufacturing expanded in August at the fastest pace in more than a year.A de...

by Staff Report

Elumelu calls on African entrepreneurs to take business to BRICS

27 August 2013 | 1972 Views
JOHANNESBURG, South-Africa - During a panel discussion held at the first BRICS Business Council meeting in Johannesburg this week, African business leader Tony O Elumelu, Chairman of Heirs Holding...

by APO

U.S. stocks ground to a 3-hour halt

23 August 2013 | 1861 Views
Trading in thousands of U.S. stocks ground to a halt for much of Thursday after an unexplained technological problem shut down trading in Nasdaq securities, the latest prominent disruption to the oper...

by Staff Reporter

ADB President in Washington DC to accept development awards

24 July 2013 | 3052 Views
WASHINGTON - The President of the African Development Bank (AfDB) Group, Donald Kaberuka, will be in Washington, DC from July 24 to 27. On the morning of Thursday, July 25, he will be rec...

by AfDB

Africa Oil Week celebrates 20th Anniversary

23 July 2013 | 3261 Views
World's leading Conference, attended by 1250 delegates from Six Continents CAPE-TOWN - The 20th Africa Oil Week (http://www.petro21.com), the world'...

by Global Pacific Partners

General Motors Appoints New Leadership Team for Africa Operations

20 June 2013 | 3281 Views
General Motors has announced a number of appointments which are geared at strengthening the company’s operations in Africa:GM South Afric...

by Mathews Estell

GM South Africa Appoints New Vice President of Operations

20 June 2013 | 3121 Views
General Motors has announced the appointment of Ian Nicholls (51 years old) as GM South Africa"s Vice President of Operations with immediate effect.  Based in Port Elizabeth, South Africa, ...

by Matthews Estell

African ministers of industry to convene on post-2015 development agenda

07 June 2013 | 2604 Views
ADDIS ABABA, Ethiopia - The 20th Ordinary Session of the Conference of the African Union Ministers of Industry (CAMI) will take place in Nairobi, Kenya from 10-14 June, 2013. Organized under the them...

by Moyo Roy

Mthuli Ncube slams SA's black economic empowerment programme

10 May 2013 | 4652 Views
Cape Town - Professor Mthuli Ncube of the African Development Bank (AfDB) has slammed black economic empowerment (BEE), saying it is not creating any value."I've looked at all BEE deals up til...

by fin24

SA Airways borrows R1.5bn to stay afloat

06 May 2013 | 2477 Views
Johannesburg - SA Airways has postponed its bond issue in favour of borrowing R1.5bn from two banks, it was reported on Monday.Chief financial officer Wolf Meyer told Business Day this was unt...

by Business Reporter

Western retailers to compensate victims of Bangladesh disaster

30 April 2013 | 3328 Views
Two Western retailers have promised to compensate families of garment workers killed while making their clothes in a Bangladesh factory building that collapsed last week in the country's worst industr...

by Staff Reporter

2013 finalists for African innovation announced

25 April 2013 | 3164 Views
Ten African innovators have developed practical solutions to some of the continent's most intractable problems.Chosen from more than 900 applications from 45 countries, the finalists for t...

by Kofi Adu Domfeh

Lufthansa cancels most of its domestic flights

23 April 2013 | 3321 Views
FRANKFURT - German airline Lufthansa said yesterday it has cancelled most of its domestic, European and long-haul flights at six German airports due to strike action by ground personnel and some cabi...

by Staff Reporter

Gold plummets to its lowest level in more than two years

15 April 2013 | 3519 Views
The price of gold is plummeting to its lowest level in more than two years.The gold spot price fell as much as 6% on Monday‚ hurting gold stocks which tumbled in excess of 10% ...

by AP

Boeing completes 787 Dreamliner jet test flight

05 April 2013 | 3369 Views
On Friday Boeing completed a test flight of its 787 Dreamliner jet, part of a regimen of tests aimed at certifying a reworked system to prevent fire or overheating of the plane's lithium-ion batteries...

by Staff Reporter

World's largest maker of fuel from coal mulls selling Papua New Guinea assets

05 April 2013 | 3660 Views
SASOL, the world's largest maker of fuel from coal, is considering the sale of its gas assets in the island-state of Papua New Guinea."Sasol is considering divesting from Papua New Guinea," A...

by Staff Reporter

Facebook founder Mark Zuckerberg to pay $1.1 billion tax for 2012

29 March 2013 | 4420 Views
Facebook founder Mark Zuckerberg is on the hook for a $1.1 billion tax bill for 2012, the result of his company’s going public last year.That decision gave Zuckerberg, the co...

by Staff Reporter

Cypriots banks reopen with tight controls

28 March 2013 | 3003 Views
Cypriots banks reopen on Thursday with tight controls imposed on transactions to prevent a run on deposits after the government was forced to accept a stringent EU rescue package to prevent the countr...

by Staff Reporter

Cyprus clinches last-minute deal, uninsured depositors lose out

25 March 2013 | 3123 Views
Reuters) - Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for...

by Staff Reporter

UK strikes deal for Marange diamonds to return to the EU markets

17 February 2013 | 4746 Views
Reports from Brussels, Belgium suggest that the United Kingdom has struck a deal with Belgium on the need for Marange diamonds to return to the European Union markets.According to the reports,...

by Staff Reporter

African Migrants Could Save US$4 Billion Annually On Remittance Fees

28 January 2013 | 3683 Views
WASHINGTON - Bringing remittance prices down to five percent from the current 12.4 percent average cost would put US$4 billion more in the pockets of Africa's migrants and their families who rely ...

by APO

New SA banknotes features Nelson Mandela

05 September 2012 | 6645 Views
The South African Reserve bank Governor, Gill Marcus, today said South Africa's currency should be a reflection of its culture and heritage. "South Africa's banknotes have reflected aspec...

by SABC | Ndou Paul

IMF Executive Board Completes Fourth Review Under the Policy Support Instrument for Uganda

06 June 2012 | 2465 Views
KAMPALA, Uganda -  The Executive Board of the International Monetary Fund (IMF) has completed the fourth review under a three-year Policy Support Instrument (PSI) for Uganda. The Executive Board...

by APO

Zimbabwe's AAG in Britain

08 April 2012 | 4565 Views
The Affirmative Action Group, AAG, is currently in London, Britain to disseminate information to the Zimbabwean business community resident in the diaspora on the prevailing economic developments in t...

by Staff reporter

Goldman Sachs linked with sex trafficking

05 April 2012 | 2802 Views
WASHINGTON. — Global investment, securities and sex! Goldman Sachs has long been a big name on Wall Street, but an investigation tying the banking giants to a w...

by RT

South Africa expected to endorse Chinese currency

26 March 2012 | 3456 Views
JOHANNESBURG - South Africa will this week take some initial steps to unseat the US dollar as the preferred worldwide currency for trade and investment in emerging economies.  Thus, the nation i...

by Staff reporter

SA's deputy minister of Trade and Industry to lead business delegation to Zim

25 March 2012 | 3091 Views
South Africa's deputy minister of Trade and Industry, Elizabeth Thabethe, will lead a business delegation to Zimbabwe at the end of March, the department said.The delegation of about 45 South ...

by Staff reporter

How one woman become a billionaire from big pants

13 March 2012 | 3724 Views
At 41, Sarah Blakely has just become the youngest self-made billionaire in the world. Not bad for someone who failed law school admission tests twice and went on to work as a meeter-and-greeter for D...

by Business reporter

Lerato Mbele resigns from CNBC with immediate effect, slams the channel

14 February 2012 | 5744 Views
Lerato Mbele has left CNBC Africa (DStv 410), resigning with immediate effect, and leaving the African business channel without its star anchor and network executives scrambling to fill presenter gap...

by Staff reporter

Global Alliance Partners 8th Semi-Annual Conference set for Zimbabwe

26 January 2012 | 2821 Views
...

by Nare Msupatsila

Stop oil supply to EU before the six-month deadline Iran urged

25 January 2012 | 2339 Views
TEHRAN. - Former Iranian Intelligence Minister Ali Falahian called on Tehran authorities to stop oil supply to the European Union member states before the bloc decides on banning oil imports from Iran...

by Staff reporter

An entrepreneur's guide to cutting costs, not corners

19 January 2012 | 2427 Views
ACCRA - The New Year is full of many opportunities to start afresh in your business, one way in which this can be achieved, is with costs. Uncontrolled costs can be your worst enemy. When left unchang...

by Juliana Taylor

Migration and Development Fund donates € 1.4 to six remittances projects across the African

05 January 2012 | 3092 Views
The Migration and Development Fund's oversight committee recently approved a series of grants amounting to € 1.4 million to six remittances funded local development ...

by AfDB

China and Japan plan direct currency exchange agreement

27 December 2011 | 2676 Views
China has been pushing for the yuan to become an alternate reserve currency along with the US dollar China and Japan have unveiled plans to promote direct exchange of their currencies in a bid to cut ...

by Moyo Roy

Brazil overtakes the UK, report

26 December 2011 | 2371 Views
Brazil has overtaken the UK as the world's sixth largest economy, an economic research group has said.The Centre for Economics and Business Research (CEBR) said its latest World Economic Leagu...

by BBC

World economy to trudge on in 2012 despite Europe

24 December 2011 | 2306 Views
Europe faces another year of dismal economic performance in 2012 that will weigh on global growth, but emerging markets and the United States should at least keep the world economy moving in the right...

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