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Algerians heads to polls for presidential election

Algerians heads to polls for presid…

Algerians trickled into...

Kenya sends 91 Somalis to Mogadishu amid crackdown

Kenya sends 91 Somalis to Mogadishu…

Kenya's police chief sa...

Guinea-Bissau ex-finance minister Vaz to face Nabiam in run-off vote

Guinea-Bissau ex-finance minister V…

Jose Mario Vaz, Guinea-...

Thousands flee gun battle as Chad withdraw from Central African Republic

Thousands flee gun battle as Chad w…

Thousands fled a gun ba...

48 die in truck and bus accident in Lome, Togo

48 die in truck and bus accident in…

State television in Tog...

Congolese gunmen wound Belgian head of Africa's oldest park

Congolese gunmen wound Belgian head…

The director of Democra...

EU agrees to train Mali police, extends army training mission

EU agrees to train Mali police, ext…

The European Union agre...

Suspected Boko Haram gun men kidnap 100 schoolgirls in Chibok, Borno

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Sudan's al-Bashir bans political parties from meetings

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Jordan's ambassador to Libya kidnapped after gunmen attack his car

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Business (182)

Egypt to auction $1.3 billion for vital imports

The Central Bank of Egypt will conduct its largest foreign exchange auction yet, selling $1.3 billion to banks with clients who need U.S. dollars to pay for basic imports like wheat, oil, meat and beans.It is the third auction of its kind, which is also directed at banks whose clients need dollars to import raw industrial materials and pharmaceuticals. The first auction in April released $600 million and a second in May released $800 million.The…
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Oando pays N5.1 billion naira (about $31.875m) dividend to shareholders

Oando Plc, listed on both the Nigerian and Johannesburg Stock Exchanges, has concluded arrangement to pay a dividend of N5.1 billion for the year ended December 31, 2012.Information available to Vanguard revealed that the dividend, which translates to 75 kobo per share, reflects a yield of  5.7 per cent and would be paid out of the N10.9 billion profit after tax the company recorded in 2012.The company recorded an increase of 526 per cent in…
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Apache Sell Third of Egypt Oil & Gas Business to Sinopec for $3.1 Billion

Apache Corp. has just announced that it will sell a third of its oil and gas business in Eygpt to China’s Sinopec for $3.1 billion in cash. The companies admitted that the sale is just part of a new global exploration and production partnership.It is another sale in a series deals that Apache has agreed to this year, all part of a multibillion dollar rebalancing of its asset portfolio, that has also included; the sale…
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Tanzanian-Zambian rail firm sacks 1,000 unpaid striking workers

The Tanzania-Zambia Railway Authority has sacked more than 1,000 workers who went on strike last week demanding payment of unpaid wages, paralyzing a line that carries freight and passengers, a TAZARA spokesman said on Tuesday.TAZARA said the strike had affected the transport of copper from Zambia to Tanzania's Dar es Salaam port for export."Over 12 trains are stuck along the line, including copper, manganese and cement destined for Dar es Salaam and fertilizer, bitumen and…
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Ethiopia signs $800 million mobile network deal with China's ZTE

 Ethiopia signed an $800 million deal with China's ZTE (000063.SZ) on Sunday to expand mobile phone infrastructure and introduce a high-speed 4G broadband network in the capital Addis Ababa and a 3G service throughout the rest of the country.The agreement with ZTE, China's second-largest telecoms equipment maker, is half of a $1.6 billion project split with Huawei Technologies Co Ltd HWT.UL, the world's second largest telecom equipment maker. Huawei signed the agreement last month.Both firms…
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Egypt foreign reserves jump to $18.8B in July

Egypt's central bank reported Monday that foreign reserves reached $18.8 billion, their highest level in almost two years, but economists cautioned the jump was a reflection of aid from oil-rich Arab Gulf nations and not the result of an improved economy. The July reserve figures, which were released on the central bank's website, represent a nearly $4 billion increase - or about 26 percent - from $14.9 billion at the end of June. It came…
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Ethiopia signs $700 m mobile network deal with China's Huawei

Ethiopia on Thursday signed a $700 million agreement with China's Huawei Technologies Co Ltd to expand mobile phone infrastructure and introduce high-speed 4G broadband network in the capital Addis Ababa and 3G service throughout the country. Huawei, the world's second largest telecom equipment maker, has been involved in developing phone and internet services in the Horn of Africa country for several years. Africa's rapidly expanding telecoms industry has come to symbolize its economic growth, with…
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Africa Oil speeds up East Africa exploration, drills new well

Canadian explorer Africa Oil Corp said on Thursday it had begun drilling a new well in Kenya with its British partner Tullow Oil Plc, as the two companies speed up exploration efforts in the east Africa region. East Africa has become a hotbed of exploration after oil discoveries in Kenya and Uganda and huge gas finds in Tanzania and Mozambique. However, Kenya has yet to determine whether it has commercially viable quantities of hydrocarbons. Drilling…
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AU asks Sudan to extend deadline to halt South Sudan's oil export

The African Union has asked Sudan to extend a deadline to halt oil flows to South Sudan, state-linked media said on Wednesday, in a last-ditch effort to keep crucial oil exports going. Last month, Sudan said it would close two oil pipelines with South Sudan by August 7 unless Juba stopped supporting rebels operating across the shared border. South Sudan, which needs to export its oil trough the north, denies the accusation. The African Union…
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Nigeria naira firms, bond yields rise after central bank moves

 Nigeria naira firmed sharply against the U.S. dollar and government bond yields rose on Wednesday after the central bank tightened liquidity in the banking system the previous day, dealers said. Nigeria's central bank on Tuesday hiked the cash reserve requirement for public sector deposits by a surprise 50 percent to tighten liquidity and support a naira currency which had fallen two percent since May. The naira is trading at 160 at 1020 GMT as against…
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