Business

Wed,01Oct2014

Business

Ethiopia seeks Turkish government support for railway fund

Photo©ReutersEthiopia has requested support from the Turkish government to press for the release of a $700 million loan that the Turkish EXIM Bank pledged to finance the construction of the African country's Awash-Woldia railway project.

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Mining: Glencore suspends projects over tax row with government

A government decision to withhold $200 million in tax refunds has compelled Glencore-owned Mopani Copper Mines to suspend some of its planned $800 million Zambian copper mining projects.

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Mauritius: Missing the sweet spot

Tourism plays a crucial role in the economy with a drive towards wooing high-net-worth visitors. Photo©Holger Leue/CorbisDespite government hopes of Mauritius becoming a high-income country by the end of the decade, analysts fear the downturn in the key sugar and tourism industries, sparked by the European economic crisis, mean it will miss its 2020 target. Meanwhile, the financial sector remains under pressure due to concerns over the future of a crucial tax treaty.

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Kenya joins Africa's top 10 economies

Changes in assessing agriculture, manufacturing and real estate accounted for most of the GDP rise. Photo©ReutersKenya has joined Africa's top ten economies after its gross domestic product was estimated to be 25 percent bigger. This comes after the east African country's authorities changed the base calculation year to 2009 from 2001.

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Senegal: desalination to boost water supplies

Photos@ReutersSenegalwaterSenegal water company Senegalaise des Eaux (SDE) is looking at desalination to boost water supplies in the rapidly growing capital city of Dakar.

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Tearing down development barriers

Photo©US State DepartmentNew finance from the United States, Asia and Europe may dramatically change Africa's sprawling economic landscape after a season of summits and deal making.

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Kenya adds 25 percent to size of economy after rebasing

Kenya's gross domestic product (GDP) was estimated to be 25 percent bigger after the authorities changed the base calculation year to 2009 from 2001, sending the east African nation into the top 10 of Africa's largest economies.

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