Africa
Rand Set For First Weekly Drop in Three on Concern About Currency Strength The rand declined for the first week
in three as South African labor unions, politicians and the
central bank raised concerns that its 25 percent rally against
the dollar this year was harming the economy.
Kenyan Government Extends Sale Deadline of Infrastructure Bond Until Dec.1 Kenya, east Africa’s biggest
economy, has extended the deadline for investors to buy its
second infrastructure bond to Dec. 1, the central bank said
today in a statement in Nairobi-based Daily Nation.
Commodities to Attract Record $60 Billion Inflows This Year, Barclays Says Commodities will likely attract a
record $60 billion this year as investors seek to diversify
their assets, Barclays Capital said.
Ghana Cuts Benchmark Lending Rate by Half-Point to 18% as Inflation Slows Ghana’s central bank cut its
benchmark lending rate for the first time in almost three years
after the country’s currency pared losses, helping to slow
inflation.
South African Stocks Decline For a Third Day, Led by Highveld, Sasol, BHP South Africa’s FTSE/JSE Africa All
Share Index fell or a third day, declining 129.96, or 0.5
percent, to 26,929.25 in Johannesburg.
CNPC, Sudan Sign Agreements on Oil Refinery Expansion, Crude Exploration China National Petroleum Corp., the
nation’s largest oil company, signed agreements with Sudan to
expand a refinery in Khartoum and swap oil production assets.
Sasol Approves $13.3 Million for Projects to Cut Emissions by 760,000 Tons Sasol Ltd. approved 100 million rand
expenditure on energy-efficient projects to reduce greenhouse-
gas emissions by 760,000 metric tons a year, the company said in
its 2009 sustainability report released in Johannesburg today.
East Africa Portland Cement's Shareholders Back Bond Sale, Nation Reports Shareholders of East African
Portland Cement Co., Kenya’s second-biggest maker of the
building material, approved plans to issue a 3 billion-shilling
($40.2 million) bond, the Daily Nation reported.
Africa Will Spend $112 Billion on Aircraft Purchases by 2028, Airbus Says African airlines will need 959 large
aircraft at a cost of about $112 billion between now and 2028 as
annual passenger growth increases faster than the global
average, Airbus SAS said.
Remgro Sees First Half Headline Earnings Per Share Falling As Much As 70% Remgro Ltd. said it sees first half
headline earnings per share falling by between 66 percent and 70
percent compared with a year earlier.
Mozambique Requires $17 Billion to Upgrade Infrastructure, World Bank Says Mozambique needs to invest $1.7
billion annually for the next decade to upgrade public
infrastructure so it reaches the level of that in most
developing countries, the World Bank said.
U.S. to Raise Inspections of Ethiopian Food Aid Amid Opposition Complaints The U.S. will increase inspections
of food aid deliveries to Ethiopians after complaints by members
of the country’s opposition that its members are routinely
denied access to foreign aid, a U.S. State Department official
said.
Guinea Mediator Compaore Wants Military Junta to Lead Transition, RFI Says Burkinabe President Blaise Compaore,
who has been appointed to mediate an end to the political crisis
in Guinea, has proposed the military junta lead a transitional
government in the country, Radio France International reported.
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