Business

Sun,31Jul2016

Business

Ethiopian Airlines signs new deal with German firm

Photo©Elias Asmare/AP/SIPAEthiopian Airlines has contracted a German company, Lufthansa Technik to supply it with comprehensive component support for its new Airbus A350 fleet.

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Madagascar gets $305 million IMF credit approval

Photo©Kim Kyung-Hoon/ReutersThe International Monetary Fund (IMF) has approved an equivalent to $304.7 million in financial assistance for Madagascar under a 40-month Extended Credit Facility (ECF) arrangement to help shore up its economy, the fund said.

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Don't panic, Nigerian governor says, as bank shake-out looms

Photo©Sunday Alamba/AP/SIPABreaking the central bankers' taboo on use of the 'p-word', Nigeria's Godwin Emefiele is urging people not to panic about the banking system, saying he is on top of any trouble resulting from the worst crisis in Africa's biggest economy for decades.

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South Africa's NUM union to go on strike at power utility Eskom in August

File photo©Schalk van Zuydam/AP/SIPASouth Africa's National Union of Mineworkers (NUM) said on Friday its members will go on strike at power utility Eskom, the sole provider of electricity in Africa's most industrialised country, from 8 August.

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South Africa's Gordhan says domestic, global growth outlook bleak

South African Finance Minister Pravin Gordhan. Photo©Schalk Van ZuydamSouth African Finance Minister Pravin Gordhan said on Friday that the domestic and global growth outlooks remained bleak and sounded a warning about the financial health of state-owned companies, which include power utility Eskom.

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China, Africa ink $17 bln preliminary cooperation pacts

China's President Xi Jinping speaks during a Forum on China-Africa Cooperation in Sandton, Johannesburg, December 4, 2015. REUTERS/Siphiwe SibekoChinese companies and banks agreed preliminary deals with African counterparts on $17 billion worth of cooperation in sectors including infrastructure, energy, pharmaceuticals and information technology, the official Xinhua News Agency reported on Thursday.

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Egypt expects to get at least $2 billion within 2 months of agreeing IMF loan

File photo©Kim Kyung-Hoon/ReutersEgypt expects to receive at least $2 billion within two months of agreeing a three-year $12 billion loan programme with the International Monetary Fund, a senior finance ministry official said on Thursday.

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