Egypt aims to start cement bid process by mid-2010

Egypt is targeting to start an international bidding process to grant cement licences by the middle of this year, the head of the country's Industrial Development Authority (IDA) said on Monday. "We're presenting the case to the High (Supreme)...

Oil falls under $72, euro zone worries weigh

Oil sank below $72 a barrel on Tuesday, after rising nearly 1% the day before, weighed down by nagging worries over an uncertain demand outlook and the fiscal health of some euro zone countries. Crude rose on Monday, snapping three sessions of...

Botswana predicts return to growth in 2010/11

Botswana's economy should return to growth in the financial year to June 2011, lifted by a gradual recovery in global diamond sales, Finance Minister Kenneth Matambo said on Monday. He said in a budget speech to parliament the southern African...

Botswana spending seen tight in 2010 budget

Botswana's government is likely to announce a tough budget on Monday, with Finance Minister Kenneth Matambo struggling to fund development plans while revenues from the country's diamond exports remain depressed. Analysts expect the world's...

SA looking at stimulus measures – report

South Africa is looking at whether it should maintain stimulus measures as the economy has not been severely affected by a global economic slowdown, central bank deputy governor Xolile Guma was quoted as saying. "Certainly in South Africa, we've...

Oman's Raysut Cement plans bid for Star Cement Group

Oman's Raysut Cement, the sultanate's largest cement producer by market value, is planning a bid to buy Star Cement Group of Companies, it said in a statement on the country's bourse website on Sunday. Star Cement has a clinker production plant...

G7 wants banks to pay for rescue, details pending

The idea of a global tax on banks to recapture bailout costs gained ground on Saturday, boosted by the Obama administration's latest proposals, but there was no agreement on a specific design. Finance ministers and central bankers from the Group...

Oil rises on bargain-hunting, eyes Euro debt woes

Oil prices reversed some of last week's losses on Monday and rose from a seven-week low to near $72 a barrel, spurred by bargain-hunting and hopes for a cold front in the US mid-Atlantic region to boost fuel demand. But mixed signals from the US...

EU says wants East Africa group to sign trade deal

The European Union on Thursday urged the five members of the East African Community to sign a long-delayed trade deal with the EU when EAC ministers gather at a regional meeting on Friday. Kenya, Uganda, Tanzania, Rwanda and Burundi have gained...

Oil steady near 2010 lows around $73 as dollar soars

Oil was steady near $73 on Friday, near lows for the year after its biggest one-day drop since July in the previous session, as the dollar jumped to its highest against the euro in eight months. The dollar index, a measure of the greenback's...