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May, 6, 2016

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Business > Africa
The rapid spread of cellphones across Sub-Saharan Africa is transforming the region, but record levels of growth are due to slow sharply, an industry report said this week.
 
Clooney's South Sudan coffee reaches Europe despite war
Mired in civil war for 21 months, its oil-based economy in tatters, South Sudan is an unlikely source of upmarket coffee capsules for European consumers.
 
Nigeria's oil firm NNPC said Sunday it had signed a deal with a consortium of local and foreign lenders to develop 36 oil wells that would also boost domestic power generation in Africa's largest crude producer.
 
As mining companies in resource-rich Africa bleed jobs due to plunging commodity prices, the ripple effect of redundancies has raised concern about social unrest amid declining economic growth.
 
Young people don't have many places to socialize in conservative Algeria. But now the North African's country's youth are discovering something their counterparts in the West embraced a generation ago: the shopping mall.
 
Natural gas power generation should be prioritized to help tackle South Africa's dire energy crisis that has hobbled growth and led to rolling black-outs, said a report released Tuesday.
 
Nigeria's Dangote Cement has announced a US$4.34 billion deal with Chinese construction company Sinoma International Engineering to build plants across Africa.
 
The Financial Supervisory Commission (FSC, 金管會) said Friday that the FSC has received 11 applications to secure a license to kick off their third party payment processing services.
 
El-Sissi unveils Suez Canal in lavish ceremony
President Abdel-Fattah el-Sissi unveiled an expanded Suez Canal Thursday in a lavish ceremony, with the first ships passing through the waterway in what Egypt hopes will boost its economy and global standing.
 
Yahoo suffers Q2 loss, revenues still unchanged
Yahoo is still limping along as the Internet company prepares to shed the financial crutch that has been propping up its stock during the three-year reign of CEO Marissa Mayer.
 
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