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S.Africa's mining sector in trouble, economics minister says JOHANNESBURG: South Africa's mining sector is in "trouble" as it struggles with widespread job losses and lower commodity prices, Minister of Economic Development Ebrahim Patel said on Wednesday.President Jacob Zuma's government was due to hold an urgent meeting with mining houses and trade unions later in the day after companies announced they would have to retrench workers to counter high costs."The mining industry is in trouble," Patel said on Talk Radio 702, citing the recent downturn in the metal industry and subdued demand from China.The government would boost the agriculture, tourism and manufacturing sectors to diversify Africa's most developed economy from a reliance on mining, Patel said, adding that the private sector could more do to create jobs.In addition to sinking commodity prices, South Africa's mining industry is also battling rising costs and labour unrest as workers demand higher wages.On Tuesday, the mines minister ordered Glencore to suspend all operations ...

Breakthrough in quest for Ebola vaccine PARIS: An Ebola test vaccine provided blanket protection in a field trial in Guinea, researchers said on Friday, possibly heralding "the beginning of the end" for the devastating West African outbreak that has killed thousands.The serum was 100 percent effective after a week in more than 7,600 people inoculated, according to results published in The Lancet medical journal and hailed as "extremely promising" by World Health Organization (WHO) chief Margaret Chan.The world was "on the ...
Female suicide bomber blows herself up in NE Nigeria market KANO: A female suicide bomber blew herself up Friday at a big market in the northeast Nigerian city of Maiduguri, a vigilante and a witness said."There had been a suicide attack on Gamboru market this morning. It was a female suicide bomber. The attack happened around 6:30 am (0530 GMT) as the grocers were arriving in the market which starts early," said the vigilante, Babakura Kolo.There is no immediate information on the number of victims, ...
Boko Haram fighters behead three in Cameroon raid YAOUNDÉ: Three villagers were beheaded during weekend raids in Cameroon by Boko Haram insurgents from neighbouring Nigeria, who killed another four people in a separate raid overnight, security forces said Monday.The first attack took place on Sunday in the neighbouring villages of Tchebe-Tchebe and Dzaba, about 10 kilometres (six miles) from the Nigerian border, said a security agent based in the region.The beheadings took place in Tchebe-Tchebe.The assailants also set fire to land owned by ...
Burundi presidential vote not credible: UN observers UNITED NATIONS: A United Nations observer mission said Monday that last week's presidential elections in Burundi were relatively peaceful but had not been "an inclusive, free and credible" vote.In a preliminary report, the observers said the vote, which saw President Pierre Nkurunziza re-elected, was marred by violence and obstacles to freedom of expression and the press. Copyright AFP (Agence France-Presse), 2015 ...
Toll rises to 13 dead from Somali hotel bomb MOGADISHU: Somalia's Shebab insurgents killed at least 13 people Sunday in a bomb attack on a hotel in the capital Mogadishu, a security official said on Monday, updating an earlier death toll."The devastation was huge, and so far 13 people, all of them innocent civilians, have been confirmed dead," government security officer Ahmed Ali said. "Some of the wounded died last night, while other bodies were recovered under the wreckage of nearby buildings."Initial reports had ...
At least 15 dead after blast at market in northern Nigeria DAMATURU: A blast set off by a female suicide bomber tore through a crowded market in the northeastern Nigerian city of Damaturu on Sunday, killing at least 15 people, a police spokesman said.No one has claimed responsibility for the explosion, which witnesses said occurred at around 9.30 a.m. (0830 GMT)."Fifteen people have been confirmed dead so far and more dead bodies are being brought to the hospital," said police spokesman Toyin Gbadegasin. Witnesses said around ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln