- StanChart plans to open in Mozambique next year
CAPE TOWN (Reuters) - Standard Chartered wants to open its first branch in Mozambique next year, part of an aggressive expansion campaign that will help double revenues from its African business over the next five years, an official said on Thursday. "Africa is in our DNA and we think Mozambique is natural evolution in expanding our network here," V Shankar, the bank's head of Europe, Middle East, Africa and Americas operations, said. "I would be surprised and disappointed if we were not there by the end of 2014," he told Reuters on the sidelines of a World Economic Forum Africa meeting. ...
- Tanzania says Malawi returns to border dispute talks
DAR ES SALAAM (Reuters) - Tanzania said on Saturday that neighbouring Malawi had returned to talks aimed at resolving a border dispute over Lake Malawi that has soured relations and delayed exploration for oil and gas. East Africa has become hot property for the oil industry since huge gas finds off the shores of Tanzania and Mozambique and oil strikes in Uganda and Kenya. Rich hydrocarbon deposits are believed to lie below Lake Malawi. ...
- BRIEF-Nedbank says Q1 net interest income up 7.3 pct
JOHANNESBURG (Reuters) - Nedbank Group Ltd: * Says entered into an agreement to acquire an initial 36% share in banco unico of mozambique * Says net interest income grew 7,3% to R5 121m (Q1 2012: R4 774m) * Says elevated consumer indebtedness and unsecured lending continued into 2013, leading to higher retail impairments * Says credit loss ratio increased to 1,22% (Q1 2012: 1,08%) * Says cautious in outlook for the year but remains on track to achieve medium to long term earnings growth target
- Expert: Rhino population wiped out in Mozambique
JOHANNESBURG (AP) — Mozambique's rhinoceros population was wiped out more than a century ago by big game hunters. Reconstituted several years ago, the beasts again are on the brink of vanishing from the country by poachers seeking their horns for sale in Asia.
- Mozambique trims 2013 growth forecast to 7 pct
MAPUTO (Reuters) - Mozambique has trimmed this year's economic growth forecast to 7 percent from 8 percent due to the impact of heavy floods that hit the southern African nation in January, according to a government report released this week. The document also said Mozambique had attracted more than $5 billion in foreign direct investment last year, nearly 90 percent of it into the booming mining sector. ...
- Expert: Rhinos extinct in Mozambique
JOHANNESBURG (AP) — Mozambique's rhinoceros population was wiped out more than a century ago by big game hunters. Reconstituted several years ago, it has again been driven to extinction, or to the brink of extinction, by poachers seeking their horns for sale in Asia.
- Former Madagascar president Ratsiraka to contest July election
By Alain Iloniaina ANTANANARIVO (Reuters) - Madagascar's former president Didier Ratsiraka will contest national elections in July in a bid to become the Indian Ocean island state's leader for the third time, his supporters said on Saturday. Madagascar has been in crisis since Andry Rajoelina, now president, led an uprising that ousted former President Marc Ravalomanana from office in 2009, triggering turmoil that scared off investors and devastated the vital tourism sector. ...
- Poor railways, ports put brake on Mozambique's coal rush
By Agnieszka Flak and Marina Lopes DONDO, Mozambique (Reuters) - Mozambique's transport system offers a cautionary tale to African mining ventures, as investors play poker with the government over fixing links that remain shambolic two decades after its civil war. Foreign mining companies are betting in Mozambique on one of the world's largest untapped reserves of premium hard coking coal relatively close to Africa's east coast, a prime location for feeding hungry markets in Asia. But they have run into a problem facing many minerals exporters across Africa. ...
- Pope faces tough decisions as Vatican reforms loom
VATICAN CITY (AP) — Pope Francis has spent much of his first month as pope charming ordinary Catholics with his ordinary yet extraordinary papal ways and making clear he is very much the boss when it comes to decisions as small as the shoes he wears to where he rests his head at night.
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