Business

South Sudan slashes spending after halting oil output
Mon, 20 Feb 2012
South Sudan has halved spending on everything but salaries to compensate for the loss of revenue following an oil shutdown due to a row with Sudan. Oil makes up 98% of its budget, after it split...
Nigeria's Dangote opens $1 bn cement plant
Fri, 10 Feb 2012
Nigerian manufacturing group Dangote has opened a one-billion-dollar cement plant near the economic capital Lagos, one of the largest investments in the oil-rich west African country. "We...
Nigeria: MEND Attacks Agip Facility,Threatens MTN,SacOil
Mon, 06 Feb 2012
After almost a year of silence, the Movement for the Emancipation of the Niger Delta (MEND) rose from the ashes and struck Saturday night in Brass Local Government Area, Bayelsa State, leading to the...
British Airways partner Kulula stops flights to Maputo
Thu, 12 Jan 2012
Kulula, a South African discount carrier owned by British Airways affiliate Comair, announced Thursday that it will stop flying to the Mozambican capital Maputo on January 17. "The route from...
Nigerian police 'beat fuel price protesters'
Thu, 05 Jan 2012
Police on Thursday fired tear gas and beat demonstrators who staged a protest in Nigeria's main northern city against soaring fuel prices, an organiser of the rally said. Separately, a group of...
Travel guide - Jaunell launches travel 'app'
Wed, 04 Jan 2012
IN the fashion industry — today you're in, tomorrow you're out. With that in mind, Jamaican supermodel Jaunel McKenzie is taking no chances, and is making plans even before she hangs up...
Air Zimbabwe halts flights to S. Africa over debts
Fri, 16 Dec 2011
Zimbabwe's national airline has suspended flights to neighbouring South Africa over a debt of $500,000, fearing creditors might impound more of its planes, state media said Friday. "We are...
New producer Ghana targets $768 million from oil
Thu, 17 Nov 2011
Ghana, which only began large-scale oil production less than a year ago, is targeting oil revenue of about $768 million in 2012, the nation's finance minister said on Wednesday. Presenting the...
Africa's mobile phone industry 'booming'
Wed, 09 Nov 2011
Africa is the fastest-growing mobile market in the world, and is the biggest after Asia, an association of worldwide mobile phone operators has said.The number of subscribers on the continent has...
Virgin Atlantic introduces an exciting dining experience in Economy class
Fri, 04 Nov 2011
Virgin Atlantic has announced a brand new offering in its Economy class cabin with a fresh new take on plane dining.  This new product offering is part of the airline’s recently announced...
IMF sees growth for African economies
Wed, 19 Oct 2011
Sub-Saharan Africa is riding out the global economic slowdown well, an IMF report released on Wednesday said, with growth across the region expected to approach 6.0 percent in 2012.The IMF indicated...
Zimbabwe's Tsvangirai condemns new foreign equity law
Wed, 28 Sep 2011
Harare - Zimbabwean Prime Minister Morgan Tsvangirai Wednesday condemned the country's new law requiring foreign-owned firms to give a majority stake to blacks as 'warped'. Investors have...
Ghanaian Trader Arrested After Losing $2 BILLION Of UBS Money, Hints At...
Thu, 15 Sep 2011
UBS said on Thursday that a rogue trader in its investment bank had lost $2 billion, delivering a fresh blow to the beleaguered Swiss bank.The police in London have arrested a European equities...
Nigeria: Shell to Pay N62.5bn for Oil Spill in Ogoniland
Thu, 04 Aug 2011
Lagos — Royal Dutch Shell faces having to pay compensation of potentially more than N62.5 billion (£250 million or $410 million) after it admitted liability for the two spills in...