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May, 5, 2016

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Business > Africa
Economically hamstrung Zimbabwe has passed new regulations ordering some 300,000 beneficiaries of President Robert Mugabe's controversial land reforms to pay annual rent and levies, a state daily said Monday.
 
Uphill task for Nigeria's new economic team
Nigeria finally has a government after a wait of more than five months but the new ministers have their work cut out to reverse a damaging slump in Africa's leading economy.
 
The Russian plane crash in Egypt has forced hotels in Sharm el-Sheikh to send dozens of staff on "unpaid leave" as tourist numbers plunge, with tens of thousands of jobs at risk within months.
 
African telecom giant battles Nigeria over fine
Africa's biggest telecommunications company is locked in a nasty battle in powerful Nigeria, with billions of U.S. dollars at stake.
 
Nigeria will start selling and buying oil and gasoline directly to cut out middlemen and curb graft, the new managers of the Nigerian National Petroleum Corp. announced Tuesday night.
 
Nigeria looks set to unbundle a long-awaited oil law to speed up its passage through parliament, potentially unlocking billions of dollars in frozen investments.
 
The International Monetary Fund (IMF) is pressing Nigeria to further devalue its naira currency amid uncertainty over the political and economic outlook for Africa's biggest oil producer and economy.
 
Egypt's central bank weakened the value of the Egyptian pound against the U.S. dollar Sunday for the second time in a week.
 
Agriculture exports 'boost Tunisia's economy'
Tunisia's tourism-dependent economy, badly affected by two deadly jihadist attacks on foreign tourists this year, has been helped along by olive oil and date exports, the finance minister said Friday.
 
Egypt signed a contract Saturday to buy two Mistral warships, whose sale to Russia Paris canceled because of the Ukraine crisis, a delegation member with the visiting French prime minister said.
 
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