06292016Wed
Last update: Wed, 29 Jun 2016 05am

Africa

World - Africa

South Africa's Zuma and finmin meet to discuss state-owned firms before Fitch review JOHANNESBURG: South Africa's President Jacob Zuma and Finance Minister Pravin Gordhan met on Tuesday to discuss measures to turn around the economy and struggling state owned firms a day before a ratings review by Fitch. State-owned companies, which Treasury has said have 467 billion rand ($31 billion) in state guarantees, have been singled out by ratings agencies as a major risk to the credit rating of Africa's most industrialised economy. South Africa has dodged downgrades from S&P Global Ratings and Moody's, taking some pressure off Zuma ahead of elections in August and giving policymakers more time to implement reforms to boost GDP growth. Spokesman for the presidency, Bongani Ngqulunga, said the government will act decisively to rehabilitate loss-making state firms as it did with power utility Eskom. The power supplier was struggling to keep the lights burning early last year and was forced to implement controlled power cuts that hurt ...

World - Africa

Nigeria seeks talks to end oil attacks: minister ABUJA: Nigeria's government and military chiefs on Tuesday met governors of oil-producing states after announcing it planned peace talks with militants who have repeatedly attacked pipelines and installations, slashing output.President Muhammadu Buhari last week ordered enhanced security in the restive oil-producing south, sending gunboats and fighter jets into the creeks and swamps of the Niger delta to hunt down the Niger Delta Avengers (NDA) rebels.But junior oil minister Emmanuel Ibe Kachikwu said late on Monday ...

World - Africa

Latest Boko Haram attack in Niger forces thousands to flee DAKAR: An estimated 50,000 people have fled Boko Haram attacks in southeast Niger since Friday, the UN refugee agency said on Tuesday, adding to a humanitarian crisis caused by the spread of violence in the region.The militant group first took the town of Bosso near the Nigerian border on Friday in an attack in which 30 soldiers from Niger and two from Nigeria were killed.It was the deadliest assault in Niger by Boko Haram since ...

World - Africa

Nigeria's Buhari flies to London for ear infection treatment, holiday ABUJA: Nigerian President Muhammadu Buhari flew to London on Monday for a 10-day holiday, during which he will receive medical treatment for a persistent ear infection. His departure comes days after the 73-year-old former military ruler cancelled a trip to the restive Niger Delta region at the last minute. Last month, he pulled out of what would have been his first official trip to Nigeria's commercial capital, Lagos. A presidency statement issued late on Sunday ...

World - Africa

Boko Haram retakes Niger town of Bosso NIAMEY: Boko Haram retook the town of Bosso in southeastern Niger overnight after clashes with soldiers from Niger and Nigeria, the mayor of Bosso and a military source said on Monday. The militant group first took the town near the Nigerian border on Friday in an attack in which 30 soldiers from Niger and two from Nigeria were killed. Nigerien troops had retaken the town by Saturday morning, the defense ministry said. Copyright Reuters, 2016 ...

World - Africa

Nigeria's Buhari to take 10-day holiday and see London doctor over ear infection ABUJA: Nigerian President Muhammadu Buhari is to take a 10-day holiday during which he will travel to London and see a doctor regarding a persistent ear infection, his spokesman said on Sunday. It comes days after the 73-year-old former military ruler cancelled a trip to the restive Niger Delta region at the last minute. Last month, he pulled out of what would have been his first official trip to the commercial capital, Lagos. "The president ...

World - Africa

Egypt Suez Canal revenues at $1.239bn in Q1 2016 CAIRO: Revenue from Egypt's Suez Canal reached $1.239 billion in the first quarter of 2016, up slightly from $1.236 billion in the same period last year, the state news agency MENA quoted the Suez Canal Authority chairman as saying on Wednesday. Mohab Mameesh said the canal's revenues had increased despite slowing global trade.The Suez Canal Authority usually reports the canal's revenues in dollars every month towards the end of the following month. Since February it ...