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Reuters

Oil near $125 on heating oil supply strain

16th May 2008 Oil rebounded to near $125 a barrel on Friday, led by the bullish heating oil market as China and Europe scramble for barrels, thinning global supply. US crude for June delivery rose 74 cents to $124,86 a barrel by 04:31 GMT, just 1,7 percent below Tuesday's all-time peak of $126,98. 

SABMiller tops up profit, will offset rising costs

15th May 2008 SABMiller, the world's biggest brewer, beat forecasts with a 19 percent rise in annual earnings on Thursday and said it expects to raise beer prices to offset soaring commodity costs, sending its shares higher. The London-based maker of Miller Lite, Peroni and Pilsner Urquell beers was... 

Africa blocs plan trade regime harmonisation

15th May 2008 Three African trade blocs plan to harmonise trade policies so Africa can compete more effectively on world markets. Erastus Mwencha, secretary general of the Common Market for Eastern and Southern Africa (COMESA), said on Thursday his group would be meeting the East African Community (EAC) and... 

Bharti may seek MTN share-swap to avoid bidding war

15th May 2008 Bharti Airtel, India's leading mobile operator, may seek a merger or share swap with MTN Group to try to avoid a bidding war for the South African phone firm, analysts and media reports say. The reports helped push up Bharti shares on Thursday after the stock had fallen sharply last week on... 

Oil recovers above $124 after fall on US stocks

15th May 2008 Oil edged up on Thursday, recovering after rising US distillates stocks and Iran's reassurances that it would not cut crude exports pushed prices down a day earlier. US light crude for June delivery was up 29 cents a barrel at $124,51 by 06:35 GMT, after having settled down $1,58 at... 

African mobile phone firms mull solar for base stations

15th May 2008 Steeply rising energy prices should soon drive African mobile phone operators to power their base stations with alternative energy sources such as solar or wind, industry executives said. Africa burns more than 30-million litres of diesel a year to power mobile phone base stations, according to... 

Turkey approved as African Development Bank member

14th May 2008 Turkey was approved as the 25th non-regional member of the African Development Bank at the bank's annual meeting on Wednesday, the AfDB said in a statement. It said the AfDB board of directors had in March considered the application as well as a special capital increase required to accept... 

African Development Bank lends Eskom $500m

14th May 2008 The African Development Bank has lent $500-million to fund South African power utility Eskom's multi-billion dollar expansion project, and to help the power-starved country achieve 6% economic growth from 2010, the bank said on Wednesday. State-owned Eskom is battling to shore up... 

India's Bharti says MTN talks still exploratory

13th May 2008 India's Bharti Airtel Ltd on Tuesday said its talks for South African mobile operator MTN were still "exploratory" and there was no requirement to make a bid. Bharti, valued at about $37-billion, is the leading mobile phone operator in India, the second-largest market for wireless... 

Africa enjoying private equity funds boom - OECD

13th May 2008 Private equity funds in Africa are soaring, the Organisation for Economic Co-Operation and Development (OECD) said on Tuesday, describing the development as the "African investment story to watch". As part of its 2008 African Economic Outlook, the OECD said funds raised for private... 

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