08262016Fri
Last update: Fri, 26 Aug 2016 02am

Africa

World - Africa

IMF welcomes Nigeria's decision to end currency peg WASHINGTON: The International Monetary Fund said on Thursday it welcomed the decision by Nigeria's central bank to abandon its currency peg and adopt a flexible exchange rate policy, saying this was important to reduce fiscal and external imbalances. IMF spokesman Gerry Rice told a weekly news briefing the Fund wanted to see how effectively the naira exchange market functions once the new float system is put into effect next Monday.Nigeria's central bank governor said in a letter to President Muhammadu Buhari the bank expects the naira to settle at around 250 to the dollar after it abandons the peg of 197 to the dollar it has supported for 16 months. "I think the announcement yesterday to revise the guidelines for the operation of the Nigerian interbank foreign exchange market is an important and welcome step," Rice told reporters."It will provide greater flexibility in that market, the foreign exchange market." Senior ...

World - Africa

Black box recovered from EgyptAir crash site CAIRO: A search team on Thursday recovered the cockpit voice recorder from the EgyptAir plane that crashed into the Mediterranean last month, in a major step towards establishing the cause of the tragedy.The device was found broken into pieces but the salvage experts managed to retrieve the recorder's crucial memory unit, Egypt's civil aviation authority said.Officials are preparing to transfer the recorder from a search vessel to the city of Alexandria on Egypt's Mediterranean coast ...

World - Africa

Nigeria's Buhari is well but will extend UK holiday until Sunday ABUJA: Nigerian President Muhammadu Buhari, who travelled to Britain for a holiday and treatment for an ear infection, is very well but will extend his break until Sunday, the vice president said on Thursday."He is in perfect health and ready to resume work on Monday morning," Yemi Osinbajo told reporters in the capital, Abuja. The 73-year-old former military ruler flew to London to see an ear, nose and throat specialist after being examined by two ...

World - Africa

UN calls for investigations into Tripoli prisoner killings TRIPOLI: The UN envoy to Libya called on Monday for investigations inside and outside Libya into the killing of 12 men jailed on suspicion of crimes against protesters during the 2011 revolution and granted conditional release last week. Libya's judicial police say the men were released from Tripoli's Al-Baraka prison on Thursday, a day before their bodies were found dumped in different parts of the capital. According to their families, the men had been beaten ...

World - Africa

Morocco arrests Italian suspected of Islamic State ties RABAT: Moroccan authorities have arrested an Italian national who was planning to carry out attacks on targets in the kingdom, the interior ministry said in a statement on Monday. Morocco, a Western ally against militancy, often announces it has broken up militant cells accused of plotting attacks inside and outside the kingdom. The suspected Italian militant, who lives in Belgium, was arrested on June 8 when landing in the eastern city of Oujda, based on ...

World - Africa

Bomber hits field hospital as Libyan forces battle Islamic State in Sirte TRIPOLI: A suicide bomber killed three and wounded seven at a field hospital for forces fighting Islamic State in their Libyan coastal stronghold of Sirte on Sunday, a security source said. The bombing caused extensive damage to the hospital, about 50 km (30 miles) from the front line, the source said. Two other attempted suicide bombings against forces positioned just outside the centre of Sirte did not cause casualties, he said. Brigades aligned with Libya's ...

World - Africa

Egypt appoints new anti-corruption chief as predecessor faces trial CAIRO: Egypt's parliament approved on Sunday the appointment of a former prosecutor as the new anti-corruption chief, state news agency MENA said, less than a week after his predecessor went on trial accused of making up lies about the scale of the problem. Parliament approved the appointment of Hisham Badawi as head of the Central Auditing Authority, Egypt's main anti-corruption agency, with 329 of Egypt's 596 deputies voting in his favour.Badawi's predecessor, Hisham Geneina, was ...