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  • Morocco Is Getting Ready To Test The ‘Fastest Train In Africa’

    October 12, 2017 8:58 AM 8

    Engineers in Morocco are preparing to test Africa’s first high-speed train this week. The new trains can reach speeds of about 320 kilometres (200 miles) per hour. The French-made double-decker TGVs are being tested ahead of the launch of a flagship new line connecting Tangier with Morocco's economic capital, Casablanca in 2018. They will cut the journey

  • Qatar Airways to Increase Seychelles Capacity

    October 12, 2017 5:35 AM 9

    Qatar Airways is to upgrade flights to Seychelles with an Airbus A330 aircraft, starting 29 October 2017. The 260-seat A330 aircraft will increase the airline’s current daily capacity by 130% on the route. Flight QR678 is scheduled to depart Doha (DOH) at 02:50 and arrive in Seychelles (SEZ) at 09:10. The return flight, QR 679, is scheduled to depart

  • Analysts Issue Tullow Oil Price Target at $224.19

    October 11, 2017 10:22 PM 5

    Tullow Oil (LON:TLW) has received an average rating of “Hold” from the twenty-one research analysts that are covering the share, . Two research experts recommended the company shares with a sell rating, eight has issued a hold rating and eleven have published a buy rating on The corporation. the consensus one year target price between analysts who have covered

  • L&T Hydrocarbon Engg bags Rs 1,150-cr mandate from ONGC

    October 11, 2017 5:40 AM 10

    L&T Hydrocarbon Engineering has secured a Rs 1,150-crore contract from ONGC pertaining to a Daman Development project. "L&T Hydrocarbon Engineering, a wholly-owned subsidiary of Larsen and Toubro, has bagged an offshore contract for the Transportation and Installation - Daman Development project from Oil and Natural Gas Corporation (ONGC) valued at approximately

  • Relief as high import volumes cut price of sugar by 27 per cent

    October 10, 2017 7:06 PM 13

    The factory price of sugar has dropped 27 per cent in the last two months as high volumes of imports helped to cool the high cost of the commodity, triggering further declined in consumer prices. The retail price of sugar has subsequently dropped from a high of Sh400 for a two-kilogramme packet in March to Sh250. The regulator attributes the decline

  • Kenya: Job Losses Loom in Chase Bank Takeover

    October 10, 2017 9:47 AM 13

    SBM Holdings of Mauritius' looming takeover of Chase Bank is coming with possible loss of scores of jobs, according to a Central Bank of Kenya (CBK) statement issued Monday. The proposed transaction will lead to "a transfer of a substantial number of staff and branches" of the existing Chase Bank operation, the CBK said in the statement, signalling that those

  • Brazil revives African ties, eyes expanding market

    October 9, 2017 5:04 PM 15

    BRASILIA, Oct 9 (Reuters) - Agricultural powerhouse Brazil aims to revive ties with Africa after a lull and sees a vast export market for food and manufactured goods in a continent whose population is surging, its foreign minister said. Brazil's presence in Africa surged during the government of former President Luiz Inacio Lula da Silva, who opened

  • DHL and MallforAfrica to sell African goods to US customers

    October 9, 2017 11:46 AM 12

    International express services provider, DHL Express and global e-commerce company, MallforAfrica will – according to both firms – now enable customers in the United States to purchase locally manufactured products online. US customers will buy the products via the eBay platform run by MallforAfrica. DHL locations will serve as drop-off points for products

  • Diesel consumption drops for first time in 7 years

    October 9, 2017 4:01 AM 6

    Diesel consumption in Kenya dropped for the first time in seven years, pointing to a slowdown in an economy that uses the fuel to power industries, agricultural machinery and commercial vehicles. Industry data shows that consumption of diesel slipped to 1.24 billion litres in the first six months of the year compared to 1.25 billion litres during a similar

  • MTN announce new Regional Vice President

    October 8, 2017 11:02 AM 14

    CAPE TOWN – The MTN Group on Friday announced the appointment of Ebenezer Asante as Vice President (VP) of the expanded Southern & East Africa and Ghana (SEAGHA) Region. The group said the role became vacant after former VP, Godfrey Motsa, was appointed as CEO of MTN South Africa. Karl Toriola, VP for West and Central Africa (WECA) Region, has been managing