Africa
South Africa's Spending on World Cup Helps Economy Emerge From Recession South Africa’s spending to host the
2010 FIFA World Cup, the world’s most-watched sporting event,
and a rebound in manufacturing may have pulled the economy out
of its first recession in 17 years in the third quarter.
Eni Buys Ugandan Oil Exploration Blocks From Heritage Oil for $1.5 Billion Eni SpA, Italy’s biggest energy
company, agreed to buy Ugandan oil assets from Heritage Oil Plc,
the U.K. explorer that said this month it was in talks with
potential investors in the region, for as much as $1.5 billion.
Rand Climbs Most in Emerging Markets on Economic Growth Outlook, Gold High The rand rallied the most among
emerging-market and major currencies as gold surged to another
record and analysts bet a report tomorrow will show Africa’s
biggest economy has pulled out of recession.
South Africa's Eskom May Get a $3.75 Billion World Bank Loan by Early 2010 The World Bank may agree to lend
Eskom Holdings Ltd. as much as $3.75 billion by early next year
to help reduce an 80 billion rand ($11 billion) funding
shortfall, South Africa’s National Treasury said.
South African Equities Rise For First Day in Four: Anglo, Harmony, Netcare South Africa’s FTSE/JSE Africa All
Share Index rose for the first day in four, gaining 494.22, or
1.8 percent, to 27,423.47 in Johannesburg.
Kenya May Resume Interest Rate Cuts as Inflation Eases And Borrowing Slows Kenya’s central bank may resume
interest rate cuts tomorrow, reducing the benchmark rate by half
a percentage point as inflation eases and lending growth slows,
a survey showed.
Malawi Inflation Slows to 7.3% From 7.5% in Septemebr as Food Costs Ease Malawi’s inflation rate fell to 7.3
percent in October as food prices eased, the National Statistics
has said.
African Coffee Production Growth May Be Hindered by Dry Weather, IACO Says Dry weather and a lack of research
may hinder attempts to boost coffee output in East and Central
Africa, where three of the continent’s four top producers are
located, the Inter-African Coffee Organization said.
African Bank Forecasts Loan Growth to Slow to 25% in Fiscal 2010 From 31% African Bank Investments Ltd. said
loan growth at its African Bank unit will slow to 25 percent in
fiscal 2010 from 31 percent in the 12 months through Sept. 30.
Nigerian Equities Decline: Guinness, Union Bank Among Most Active Stocks Nigeria’s benchmark All-Share index
fell 126.67, or 0.58 percent, to 21,508.59, according to data
obtained from the Nigerian Stock Exchange’s Web site.
ANC Allies Trade Insults on Debate Over Nationalizing South African Mines The South African Communist Party
and the ruling African National Congress’s youth wing clashed
over calls to nationalize the country’s mines, as tensions
spilled out between the political allies seven months after
elections.
Cholera Kills Nine Inmates at Kenya's Largest Prison, Daily Nation Reports Cholera killed nine inmates and
infected another 43 at Kenya’s maximum security Kamiti prison,
the Daily Nation reported, citing the East African nation’s
Commission on Human Rights.
Angolan President dos Santos Says Nation Must Improve Governance, RNA Says Angolan President Jose Eduardo dos
Santos said his own ruling party had failed to prevent
corruption, Radio Nacional de Angola reported, citing him.
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