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

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...Read more

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

2013 June 07 | 1434 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

2013 May 10 | 3112 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

2013 May 06 | 1418 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

2013 April 30 | 1861 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

2013 April 25 | 2074 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

2013 April 23 | 1886 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

2013 April 15 | 2369 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% to fresh multi...

by AP

Boeing completes 787 Dreamliner jet test flight

2013 April 05 | 2220 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

2013 April 05 | 2342 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

2013 March 29 | 3257 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 company’s CEO, a...

by Staff Reporter

Cypriots banks reopen with tight controls

2013 March 28 | 2085 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

2013 March 25 | 2200 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

2013 February 17 | 3120 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

2013 January 28 | 2635 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

2012 September 05 | 4511 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

2012 June 06 | 1111 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

2012 April 08 | 2962 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

2012 April 05 | 1594 Views
WASHINGTON. â€” 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 website linked with sex traffickin...

by RT

South Africa expected to endorse Chinese currency

2012 March 26 | 1556 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

2012 March 25 | 1344 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

2012 March 13 | 1765 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

2012 February 14 | 1976 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

2012 January 26 | 1331 Views
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by Nare Msupatsila

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

2012 January 25 | 1251 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

2012 January 19 | 1257 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 â‚¬ 1.4 to six remittances projects across the African

2012 January 05 | 1336 Views
The Migration and Development Fund's oversight committee recently approved a series of grants amounting to â‚¬ 1.4 million to six remittances funded local development projects across the African ...

by AfDB

China and Japan plan direct currency exchange agreement

2011 December 27 | 1329 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

2011 December 26 | 1180 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

2011 December 24 | 1202 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...

by -

Botswana's economy grows by 5.8 percent in third quarter

2011 December 23 | 1278 Views
Botswana's economy grew by 5.8 percent on a quarterly basis in the third quarter, quickening from a downwardly revised 3.6 percent in the second quarter, data from the Central Statistics Office showe...

by Moyo Roy

IMF warns Africa to prepare for Europe fallout

2011 December 22 | 1377 Views
Many countries in sub-Saharan African are less prepared to deal with an economic shock now than they were during the 2008 food and fuel crisis and the global financial turmoil that ...

by Ndou Paul

India releases Zim's rough diamonds worth $22,7 million

2011 December 22 | 1578 Views
India's Directorate of Revenue Intelligence (DRI) has released a consignment of rough diamonds worth $22,7 million seized from Zimbabwe, Daily News reported.Latest media reports by global diam...

by Business reporter

U.S. economy likely to suffer triple dip in 2012: economist

2011 December 19 | 1247 Views
As the painful double-dip in the U.S. economy at the beginning of the year still weighs on Americans, a renowned Wall Street economist warned of a triple dip ahead.Ethan Harris, co-head of Glo...

by Mafu Sithabile

CAD Outsourcing Like Never Before This Festive Season

2011 December 09 | 1185 Views
Clinical Data-Mining (CDM) involves the conceptualization, extraction, analysis, and interpretation of available clinical data for practice knowledge-building, clinical decision-making and practition...

by Mike Perry

International Monetary Fund approves 2.2-billion-euro rescue fund for Greece

2011 December 06 | 838 Views
The International Monetary Fund (IMF) on Monday approved the release of a long-delayed tranche of rescue fund for Greece under the joint IMF-European Union (EU) bailout program following headway made ...

by Mafu Sithabilde

Africa presents a future of opportunities: Investor Neal Gandhi

2011 December 01 | 828 Views
CAPE TOWN - Africa is the next big thing. This is an apt view of serial entrepreneur and investor Neal Gandhi. Speaking to Entrepreneurship Africa in Cape Town, South Africa, the 43-year-old Gandhi sa...

by Entrepreneurship Africa

South Africa shuts its doors on Zim businesses

2011 November 19 | 1026 Views
Zimbabwean businesses exporting goods and services into the lucrative South African market face the spectre of seeing their R1,8 billion market significantly shrink, as the South African government w...

by Staff reporter

Chinese Yuan could take over as the world's reserve currency: Experts

2011 November 14 | 1092 Views
The Chinese yuan, strengthened 16 basis points to 6.3301 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.Experts believe the Yuan could take over as t...

by Matthews Estell

Swaziland teen entrepreneurs wins Company of the Year Competition

2011 October 30 | 889 Views
ACCRA- Eco Eagles, a team of teen entrepreneurs from Swaziland, has won the Company of the Year Competition, organised by youth charity Junior Achievement (JA) Worldwide and sponsored by Barclays....

by Entrepreneurship Africa

American Green Card Time

2011 October 10 | 793 Views
Good people, here is the link to the American Green Card (Diversity Visa) application. Apply FOR FREE and don't pay anything. They close on November 5 so do i...

by Oka Mthwakazi

UBS CEO resigns over Ghanaian rogue trading loss

2011 September 25 | 765 Views
Switzerland - UBS chief executive Oswald Gruebel has resigned over a $2.3bn rogue trading loss, the bank said Saturday. It said Gruebel's decision was an attempt to allow UBS to start afresh following...

by Sapa-AP

SA petrol prices likely to go up next month

2011 September 21 | 812 Views
The weakening of the rand/dollar exchange rate since the beginning of August is the main reason for South African petrol prices possibly rising around 23c/litre in October, News24 revealed on Tuesday....

by Moyo Roy

The global economy is in a dangerous new phase: IMF

2011 September 20 | 797 Views
The International Monetary Fund (IMF) said on Tuesday that global economy will grow at a slower pace of 4.0 percent this year, a 0.3-percentage point lower than its projection in June.Global g...

by Matthews Estell

Rogue trader of Ghanaian decent causes $2 billion loss at UBS

2011 September 15 | 798 Views
Swiss banking giant UBS said Thursday that a rogue trader has caused it an estimated loss of $2 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorized trades....

by Sapa-AFP

U.S. Federal Agency to sue big Banks

2011 September 02 | 826 Views
The Federal Housing Finance Agency is going to file lawsuits against Bank of America, JPMorgan Chase, Goldman Sachs, and Deutsche Bank, among others, alleging the banks misrepresented the quality of m...

by Staff reporter

Africa could dump US$ for China's Renminbi

2011 August 30 | 804 Views
China's renminbi could replace the dollar as the main currency to finance trade between Chinese and African countries, Business Day reported on Tuesday, citing research by Standard Bank. In a ...

by Staff reporter

SABMiller's pursuit of Foster's turning ugly

2011 August 17 | 789 Views
Two months after making its first foray, SABMiller's multi-billion dollar pursuit of Foster's is starting to turn ugly.Following a firm rejection from Foster's management on June 21 after it m...

by .

The World Is 'entering a danger zone', World Bank Chief Warns

2011 August 15 | 820 Views
World Bank president Robert Zoellick has warned that the world is "entering a new danger zone" and suggested that recent political deals in the EU have not yet gone far enough to stem the bloc's econo...

by Moyo Roy

India bars controversial Marange diamonds

2011 August 09 | 833 Views
Indian customs are preventing the export of 14 parcels of rough diamonds from Zimbabwe's Marange held in Dubai, IDEX Online revealed. The Dubai authorities cleared the goods for onward shipment....

by IDEX Online Business Writer

DRC annual inflation edges up to 18.35 pct

2011 July 13 | 874 Views
Democratic Republic of Congo's year-on-year inflation edged up to 18.35 percent at July 3 from 16.37 percent the month before, according to figures from the Central Bank.The Congolese franc ha...