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June, 27, 2016

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Business > Africa
Zimbabwe loosened Thursday the terms of a controversial law that forces foreign companies to cede a majority stake to local investors, signaling an attempt to shore up the country's moribund economy.
 
Nigerian President Muhammadu Buhari unveiled Tuesday a budget that triples investment spending in a bid to stimulate growth and lower the dependence of Africa's largest economy on oil.
 
South Africa's newly reappointed finance minister on Monday ordered state-owned airline SAA to conclude a deal with Airbus to lease five A330 wide-body planes, after weeks of turbulence at the troubled carrier.
 
"There'll be no festive season," grumbles a greengrocer in Maputo, the capital of Mozambique, where the economy has taken a nosedive and the local currency has hit a historic low against the American dollar.
 
War-torn Afghanistan and Ebola-ravaged Liberia are set to join the World Trade Organization (WTO) as it holds its first ministerial conference in Africa, opening Tuesday in the Kenyan capital Nairobi.
 
People with African-American sounding names are discriminated against when trying to get a room on Airbnb, a Harvard study says, suggesting many who use the website fail to share its vision of a "trusted community."
 
South Africa's rand slumped to record lows for a second day on Friday as the country's economic prospects darkened over President Jacob Zuma's firing of the respected finance minister.
 
Haiti needs debate about risks of gold mining: advocates
Haiti risks human rights violations and increased environmental degradation if gold mining proceeds in the impoverished country without an informed population and a strong system of safeguards in place, according to a report issued Monday by U.S. legal experts.
 
Behind walls, S. African city proud to be a world apart
Green, tidy, with safe public areas and winding bicycle paths -- Steyn City is a vast "self-sufficient" development outside Johannesburg, that highlights growing controversy over South Africa's divided urban society.
 
Nigeria slashes telecoms firm fine by 1/3 to US$3.4 billion
Nigeria is slashing its fine on MTN, Africa's largest telecommunications operator, by more than a third to US$3.4 billion, and the CEO of the embattled Nigerian subsidiary has resigned, the company said Thursday.
 
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