Home World Africa

Africa

Canadian Embassy In Cairo Closed Due To Security Concerns

The British Embassy in Cairo closed to the public on Sunday, also citing security concerns.

UAE’s RAK Petroleum Ups Stake In Cote d’Ivoire Oil Field

The company has invested up to $10.6 million to raise its stake in Block C1-27, an oilfield situated in Cote d’Ivory.

HSBC To Refund UAE, Oman, Bahrain Customers For Excessive Fees

The lender said it charged them excessive foreign currency fees on debit and credit card transactions.

GCC Firms Embark On A Cautious Investment Spree In Africa

Africa’s fast growing economies have transformed the continent into a booming frontier market, but risk is still a primary concern for GCC investors.

Sudan Says In Talks With Qatar Over Natural Gas Imports

The African nation hopes to get shipments as early as next year to use in generating power.

Panasonic Aims To Double Middle East, Africa Business By 2018

The Japanese electronics company aims to grow its overall business in MEA to over $1 billion.

United Nations $1bn Ebola Appeal Severely Underfunded -UN Officials

A UN official has said a “20-fold increase” in the global response is needed to combat the spread of Ebola compared to efforts at the end of August.

Abraaj Group Buys Majority Stake In South Africa’s Libstar

Libstar operates across South Africa through manufacturing, supply and distribution and employs about 4,200 people.

High Risk Ebola Could Reach France, UK By End-Oct

The deadly epidemic has killed more than 3,400 people since it began in West Africa in March.

Dubai Chamber Of Commerce Opens Ghana Office

The office adds to DCCI’s presence in the Ethiopian capital Addis Ababa.

DP World Chairman “Sure” Djibouti Operations Will Return To Normal

The Dubai-based port operator has been accused of bribery by the Djibouti government.

Emirates Signs 10-Year Management Deal With Angola Flag Carrier

Dubai carrier appoints senior managers but will provide no equity.

Gulf Countries To Invest Up To $5bn In Africa Annually – Study

Gulf states have provided $30 billion in funding over the last decade to develop African infrastructure, a study says.

Ebola Cases Could Reach 550,000 To 1.4m By Late Jan

The current death toll is at least 2,811 out of the reported 5,864 cases, according to the WHO.

GCC Firms Commit Investments Worth $19bn In West Africa

Abu Dhabi firm Trojan General Contracting committed investments worth $16 billion in various infrastructure projects in West Africa.

Experts Urge Global Action As Ebola Death Toll Rises

The Ebola virus has claimed over 1,900 lives since the outbreak began in West Africa late last year. Is enough being done to stop its lethal spread?

Qatar National Bank Says Buying 12.5% Stake In Ecobank

The stake will consist of current outstanding ordinary shares and the conversion of QNB’s convertible preference shares.

Libya’s Oil Recovery May Be Short-Lived As Country Risks Falling Apart

Libya’s oil production rose significantly during the last two months but experts say the ongoing internal conflict could be counterproductive.

Marriott Says Protea Acquisition Helps Boost Occupancy In MEA

Marriott saw occupancy rise 4.4 per cent and RevPar increase by 3.9 per cent in the Middle East and Africa region during Q2.

Kenya Airways To Suspend Flights To Liberia, Sierra Leone Due To Ebola

The carrier, which is part-owned by Air France-KLM, flies a total of seven times a week to Monrovia and Freetown through Accra.

Qatar Airways To Launch Eritrea Flights

Doha airline will serve capital Asmara twice weekly from December

UAE Warns Citizens To Avoid Travel To Afghanistan, South Sudan, Somalia

The ministry of foreign affairs issued the warning citing security concerns in the three countries.

IATA Says Risks From Ebola, Gaza And Russia Could Dampen Air Travel Demand

The Ebola outbreak in West Africa, that has killed 932 people so far, could be one of the biggest challenges this year for some airlines, said IATA.

Emirates Suspends Flights To Guinea Over Ebola

The Ebola outbreak, which began in Guinea and has spread to Liberia and Sierra Leone, has killed more than 700.

Mobile Money Grows In Africa But Hurdles Remain

Industry players say a fragmented and tough regulatory environment is holding the mobile money industry back.

Sierra Leone Declares State Of Emergency Over Ebola

Ebola has been blamed for 672 deaths in Liberia, Guinea and Sierra Leone.

Bad Weather Probable Cause Of Air Algerie Crash

The flight crashed in the West African state of Mali killing all 118 people on board.

Private Banks Not First Choice For Wealthy – StanChart Report

The majority of high net worth business owners prefer consulting lawyers and accountants over their private banks for planning their wealth transfer to their successors, a new study finds.

Djibouti In Legal Dispute With DP World Over Port Concession

DP World owns one-third of Djibouti’s Doraleh Container Terminal.

Alwaleed’s Kingdom Holding Forms JV To Invest In Africa

The joint venture will invest in direct private equity opportunities in African firms with a focus on consumer driven sectors.