Business

Mon,27Feb2017

Business

Nigeria's NNPC proposes changes to increase deepwater oil revenues

Cars queue for fuel at the Nigerian National Petroleum Corporation petrol station in Abuja. Photo: Sunday Alamba/AP/SIPANigeria's state oil company has proposed legal amendments aimed at enabling the government to increase royalties and other revenues from deepwater oil production.

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South Africa examines Barclays Africa over apartheid-era bailout

The facade of a building used by South Africa's ABSA bank in Cape Town, South Africa, 1 March, 2016, which is part of the Barclays Africa Group. Photo: Schalk van Zuydam/AP/SIPASouth Africa's anti-graft watchdog has reopened an investigation into whether Barclays Africa Group benefited from an apartheid-era bailout, the bank said on Friday.

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Zimbabwe telecoms hike draws charges of social media crackdown

A police officer chats on a mobile phone at a polling station during a referendum in Harare, Zimbabwe, 2013. Photo: Tsvangirayi Mukwazhi/AP/SIPAZimbabwe's biggest mobile telephone company has pushed up data charges by a multiple of 25 in line with new regulations, prompting critics to complain that President Robert Mugabe's government is trying to throttle the use of social media.

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Carbon deposit in Congo swamp equal to 20 years of US gas emissions

In this image from August 1, 2013, male chimpanzee Opi is seen in Tongo, Virunga National Park, DRC. Photo: Jabruson/AP/SIPAScientists say a recently discovered area of peatland straddling the two Congos contains 30 billion tonnes of carbon dioxide, equivalent to 20 years of US greenhouse gas emissions, and must be protected to prevent major environmental damage.

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Nigeria to sell diaspora bonds in March after eurobond issue: source

Nigerian President Muhammadu Buhari leaves after speaking at the US-Africa Business Forum at The Plaza Hotel in New York, Sept. 21, 2016. Photo: Carolyn Kaster/AP/SIPANigeria will look to issue a debut diaspora bond by March to raise funds from Nigerians abroad, after completing a $1 bn eurobond sale this month, a finance ministry source told Reuters on Wednesday.

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Uganda and Tanzania award crude pipeline design contract to US firm

In this 2010 file photo, an oil well undergoes testing in the Lake Albertine region of western Uganda. Photo: AP/SIPAUganda and Tanzania have awarded a contract for designing a crude oil pipeline running through both east African countries to US based firm Gulf Interstate Engineering, an official document seen by Reuters on Wednesday showed.

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Egypt's cost-of-living soars as currency dives

A woman looks at the view at Al-Azhar Park one of the bustling city's few public parks in Cairo. Photo: Nariman El-Mofty/AP/SIPAAnnual consumer price inflation in Egypt's cities soared to a second straight eight-year high in December, hitting 23.3% on the back of the government's decision to float the pound, effectively halving its value.

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