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Tanzanian parliament passes petroleum bill DAR ES SALAAM: Tanzanian lawmakers have passed a new petroleum bill that creates a regulatory and legal framework to manage discoveries and control of the East African nation's natural gas reserves and possible future oil finds, officials said.Tanzania has an estimated 55.1 trillion cubic feet of gas reserves, the second-largest in the region after Mozambique, and the new law is aimed at speeding up the development of the sector.It was passed late on Sunday amid stiff opposition and days of debate. Some 40 opposition lawmakers were suspended from parliament after disrupting sessions on Saturday, complaining that the law was being rushed through after inadequate consultation. "We are now through... the parliament has finally passed the bill," Energy Minister George Simbachawene told state television from the country's administrative capital Dodoma.Over 30 international gas and oil exploration firms are currently operating in Tanzania, and the bill sets out royalty production fees to ...

Egypt says 25 militants killed in air strikes as Sisi inspects troops ISMAILIA: Egyptian warplanes killed 25 Islamist militants in North Sinai on Saturday, security sources said, as the Egyptian president visited the province after a major escalation of the conflict there.The sources said the air strikes hit militant targets near the town of Sheikh Zuweid, destroying weapons and explosives caches.They also said security forces had found about half a tonne of explosives in a tunnel on the border between the Sinai and Gaza.Egyptian President Abdel Fattah ...
African Union troops retreat in Somalia as Shebab attack MOGADISHU: African Union troops fighting Somalia's Shebab insurgents have pulled back from several key towns following a series of attacks by the Al-Qaeda-affiliated fighters, local officials said Friday.The withdrawal, a rare retreat after AU troops seized swathes of territory from the radical militants, includes the towns of Qoryoley and Awdhegele, which have since been taken over by Shebab in Somalia's southern Lower Shabelle region.The Islamic militants have stepped up their attacks during Islam's holy fasting ...
Liberia announces return of Ebola, with one new death MONROVIA: Liberia announced the return of the deadly Ebola virus on Tuesday, more than six weeks after the country eradicated the disease."A new case of Ebola has been reported in Margibi County. The person has died and was confirmed positive before death. He has been buried," said deputy health minister Tolbert Nyensuah.The official told a radio station experts had traced and quarantined anyone who may have had contact with the victim, without giving numbers or ...
Mozambique turns 40, high on gas prospects MAPUTO: Mozambique turned 40 on Thursday, mixing formal military parades with exuberant African dancing as it turned from a generation of civil war and poverty to look to a more prosperous future, powered, it hopes, by vast amounts of natural gas.In contrast to the early years of independence from Portugal in 1975, when the challenge was navigating the choppy waters of the Cold War, the southern African nation's leaders now face the burden of the ...
Top Burundi leader flees days ahead of polls BUJUMBURA: Burundian President Pierre Nkurunziza's controversial bid to stand for a third consecutive term in office was dealt a fresh blow on Thursday after one of his top deputies fled the country and urged him to step down.In a letter addressed to Nkurunziza, whose re-election bid has already sparked weeks of civil unrest, a refugee crisis and a coup attempt, second vice-president Gervais Rufyikiri urged the president to "put the interests of the Burundian people ...
25 killed in two Egypt road accidents CAIRO: Twenty-five people were killed and 29 others injured on Sunday in two separate road accidents in Egypt, where poor road and traffic regulations kill thousands each year, officials said.One accident took place on the highway linking Cairo to the Mediterranean coast further north when a minibus collided with a truck killing 13 people and injuring four, said a health ministry official.Twelve people were killed and 25 injured in the other accident when a bus ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln