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February, 28, 2017

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Business > Africa
Egypt says its annual inflation rate has risen to 29.6 percent in January, a rise of more than five percent over the previous month. The figure was released Saturday by the state's statistics agency.
 
A massive zebu cow lumbers out of the tropical forest in Ambanja in the north of Madagascar carrying a heavy cartful of cocoa pods destined to become some of the most expensive chocolate in the world.
 
Ethiopia on Saturday officially opened the Gibe 3 hydroelectric dam, which is among the biggest in Africa, despite concerns by environmentalists about its impact downstream and upon neighboring countries.
 
Investors pledge billions in support for Tunisia's ailing economy
Tunisia won pledges of billions of dollars in support on Tuesday at an investment conference aimed at reviving the country's economy following its Arab Spring revolution.
 
Unease as Zimbabwe rolls out 'surrogate' dollars
Zimbabwe on Monday started issuing "bond notes," its own currency equivalent to the U.S. dollar, in a bid to ease critical cash shortages, but the move sparked fears of a return to hyperinflation.
 
Zimbabwe to roll out derided 'bond notes' on Monday
Zimbabwe will issue "bond notes" equivalent to the US dollar from next week to ease critical cash shortages, the central bank announced Saturday, despite widespread public fear of a return to hyperinflation.
 
South Africa braced for a potentially damaging credit rating review Friday as Moody's releases its latest assessment amid political tension, reform blockages and weak economic data.
 
Bangladesh said Friday the Uber ride-sharing service was operating "illegally," just days after it launched in the capital.
 
Nigeria's economy contracted in the third quarter as businesses struggled to access foreign exchange and rebels continued to bomb oil pipelines in the restive south, official data showed Monday.
 
The head of the International Monetary Fund praised Egypt's recent austerity measures on Tuesday and called on the world lender's Executive Board to finalize a US$12 billion loan package to help rebuild the economy of the Arab world's most populous country.
 
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