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Reuters

Gold Fields to lay off workers, union cites safety

4th August 2008 Gold Fields said on Monday it would lay off workers from an older section of a South African mine, but a union said more workers than had been targeted for the exercise had asked to leave on safety concerns. Gold Fields, the world's number-four gold producer, said it planned to pay compensation... 

Kuwait's Zain plans more Africa acquisitions

31st July 2008 Kuwaiti mobile phone company Zain is finalising several acquisition deals in Africa, its chief executive for the continent said on Thursday. "We are currently actively looking at several acquisitions in the African market block. Some are very close to coming to fruition," Zain's Chris Gabriel... 

Efficiency key to avoid World Cup power cut

30th July 2008 South African state power firm Eskom believes its expansion plans will redress years of underinvestment, but it says voluntary efficiency savings are key to it getting through the 2010 World Cup without power cuts. Eskom produces around 95 percent of South Africa's electricity. But consumption... 

DRC growth at 10% by end of '08

29th July 2008 The Democratic Republic of Congo's economy will grow by 10% by the end of 2008, while inflation was seen accelerating, central bank Governor Jean-Claude Masangu said on Tuesday. "By the end of 2008 GDP growth will have reached 10%," he said at the opening of a Standard Bank branch in Lubumbashi,... 

Sapref refinery says operations back to normal

23rd July 2008 South African Sapref oil refinery, the largest in the country, resumed normal operations on Tuesday after its processing units were hit by a power interruption. The 180 000 barrel-a-day refinery is owned jointly by BP Plc and Royal Dutch Shell Plc.  

Mozambique invites investors to produce hydro energy

22nd July 2008 Mozambique has invited foreign investors to build hydropower projects in 100 locations with a total estimated hydroelectric potential of up to 14 000 MW, a senior official said on Tuesday. The national director of New and Renewable Energy, Antonio Saide, told Reuters that vast potential has been... 

Ghana's inflation rises to 18,4% in June

11th July 2008 Ghana's inflation rose to 18,4 percent in June from 16,9 percent in May, data showed on Friday, reflecting mounting costs of services, transport and food in the West African cocoa and gold producer. The Ghana Statistical Service (GSS) said there was a risk of further increases unless the global... 

G8 result bare minimum for Africa - Annan

11th July 2008 Leaders of the Group of Eight rich nations who met in Japan this week did the bare minimum for Africa and must not be allowed to backslide from even that as they have in the past, former UN head Kofi Annan said. On climate change, aid, food prices and trade the G8 had warm words but made scant... 

Gold extends gains on Iran-West tensions

10th July 2008 Gold rose further on Thursday as safe-haven buying persisted after Iran test-fired missiles, which escalate tension with West over Tehran's nuclear programme. Gold has bounced more than 8 percent since falling to a six-week low of $856,80 an ounce in mid-June. Dealers saw buying from India, but... 

Gold rebounds on Iran missile test, off two-week low

9th July 2008 Gold regained ground on Wednesday as speculators resurfaced on news that Iran had test-fired nine long- and medium-range missiles, lifting the metal's safe-haven appeal in times of uncertainty. State media said Iran had test fired missiles, including one which it had previously said could travel... 

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