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Reuters

Rosneft says Qatari fund to pay €3.7bn for Rosneft stake

6th November 2018 Russian oil giant Rosneft said on Tuesday that the Qatar Investment Authority sovereign wealth fund would pay around €3.7-billion for a half of a 14.16% stake in the company. The QIA would become the third-largest Rosneft shareholder as a result of the deal after the Russian government and... 

For Tahoe Resources, Guatemala troubles underscore tense outlook

6th November 2018 A years-long fight over the future of the world's second largest silver mine between Tahoe Resources and opponents of the project shows no signs of abating, creating uncertainty for the US miner and its investors. With environmental and indigenous opponents of Tahoe's Escobal mine vowing it will... 

Ramaphosa says shutting SAA could collapse public finances

6th November 2018 President Cyril Ramaphosa said on Tuesday that closing down struggling State-owned South African Airways (SAA) could collapse the country's public finances as the government would have to service its debts immediately. Finance Minister Tito Mboweni said last week that his preference would be to... 

Nissan signs deal to build assembly plant in Ghana

6th November 2018 Japanese automaker Nissan signed a preliminary deal with Ghana on Tuesday to set up an assembly plant in the West African country, company officials and the government said. Nissan, which leads new car sales in Ghana with a 32% market share, plans to make Ghana its sales hub in West Africa, a... 

October inflows to gold-backed ETFs up as investors hedged risk -WGC

6th November 2018 Gold-backed exchange-traded funds (ETFs) registered increased inflows to both North American and European funds during October, as tumultuous equity markets triggered flight-to-quality buying, the World Gold Council said on Tuesday. North American funds had inflows of $561-million while European... 

Kenya's Safaricom takes M-Pesa global with Western Union

6th November 2018 Kenya's biggest telecoms operator Safaricom on Tuesday unveiled a new service on its M-Pesa mobile financial services platform that will allow users to send money around the world in a partnership with Western Union. Started as a simple money transfer service 11 years ago to fill a gap in Kenya's... 

European automakers BMW, Volvo to trial new LME steel contracts

6th November 2018 European automakers BMW and Volvo plan to experiment with steel contracts to be launched by the London Metal Exchange early next year, a move which could eventually change the way the industry hedges and prices contracts, industry sources said. The LME is launching three hot rolled coil (HRC)... 

Group Five says Ghanaian power project delayed

6th November 2018 South African engineering firm Group Five said on Tuesday that construction on its Ghanaian Kpone power plant had been delayed once again due to fuel contamination. The power plant, whose construction begun in 2015 and was due to be completed in 2017, had previously been delayed due to the late... 

Don't leave half the world offline and behind, urges Web founder

6th November 2018 British computer scientist Tim Berners-Lee, who invented the World Wide Web, appealed on Monday for companies and governments not to leave behind half of the world population yet to have internet access, which includes billions of women and girls. Berners-Lee told the opening of the Europe's... 

Barrick chairperson says miner eyes nimble future after Randgold deal

6th November 2018 If all goes according to plan, Barrick Gold will have fewer mines and workers one year after acquiring Africa-focused Randgold Resources, the Canadian miner's executive chairman said on Monday, as its investors approved the deal. Votes were 99.8% in favor of the $6.1-billion, no-premium... 

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