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Nigerian capital inflows more than doubled in Q3 to $4.2BN

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The total value of capital imported into Nigeria more than doubled in the third quarter to $4.15 billion, after the economy emerged from a recession, the National Bureau of Statistics (NBS) said on Monday. Nigeria’s economy grew in the second quarter, climbing out of its first recession in 25 years, as oil revenues rose. Last year the central bank imposed ...

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Court challenge to South Africa mining charter postponed to February

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A court hearing for a challenge by South Africa’s mining industry to revisions to a sector charter which include raising levels of black ownership has been postponed to February from December, country’s Chamber of Mines said on Monday. “A judge decided that two days was not enough time and asked for three days, so the matter has been postponed,” said ...

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East Africa:Burundi’s inflation rises to 17.6% yr/yr in October

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Burundi’s inflation accelerated to 17.6 percent year-on-year in October from 15.2 percent in September due to rising food costs on local markets, official figures showed on Monday. Food inflation jumped to 28.0 percent in the year to October from 23.9 percent in September, the Institute of Economic Studies and Statistics (ISTEEBU) said in its monthly report. Advertisement The tiny East ...

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Kenya: Unclaimed assets now hit Sh25bn

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Unclaimed cash and securities surrendered to a State agency have hit Sh25.9 billion as managers of non-compliant firms face heavy penalties and jail terms. While the agency is now holding a large haul of cash, most of the surrendered assets are by publicly traded firms. Unclaimed Financial Assets Authority (UFAA) chief executive Kellen Kariuki said by September 30, it had ...

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Wal-Mart triples online items, lowers prices as holiday season kicks in

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Wal-Mart Stores Inc is planning to boost sales and fend off rivals this holiday season by doubling down on incentives for shoppers who buy online and those who visit its stores. The world’s largest retailer said it tripled its online selections for the holiday season to 60 million items, and that it would provide free two-day shipping on more than ...

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China’s war on smog, risk, taking edge off Asia’s growth sprint

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Growth in China’s manufacturing output slowed in October, threatening to chill activity across Asia, as tough steps to reduce air pollution forced factories to reduce production and a crackdown on financial risk-taking weighed on smaller firms. While business surveys on Wednesday suggested Asia’s export-driven expansion still has legs, the readings are starting to reflect signs of fatigue after an impressive ...

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U.S. trade panel recommends varying solar panel import restrictions

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Members of the U.S. International Trade Commission on Tuesday made three different recommendations for restricting solar cell and panel imports on Tuesday, giving President Donald Trump a range of choices to address injury to domestic producers. The recommendations range from an immediate 35 percent tariff on all imported panels to a four-year quota system that allows the import of up ...

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Asia shares mount 10-year top on strong economy, oil gains

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Asian shares scaled a 10-year high on Wednesday on the back of solid economic growth globally, while oil prices extended a bull run on hopes that major producers will maintain their output cuts. European shares are expected to rise, with spread-betters looking at a higher opening of 0.4 percent in France’s CAC and 0.3 percent in Britain’s FTSE. MSCI’s broadest ...

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Egypt: Sisi Asserts Importance of Developing Civil Aviation Sector

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President Abdel Fattah El Sisi underlined the importance of continuing to upgrade and develop the civil aviation sector including Egyptian airports’ security systems and qualifying its working human cadres to cope with the latest technologies. Sisi referred to the importance of the civil aviation sector in increasing travelling and tourism movements which would contribute to enhancing the national economy. Sisi ...

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