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Focus: Ethiopian Airlines steps up hunt for African connections

Fri, 11/23/2018 - 11:52
Ethiopian Airlines is accelerating its strategy of weaving a patchwork of new African routes to soak up traffic on the continent and fly customers towards its more lucrative flights to rapidly expanding Asian markets.

Global Markets: European markets bring modest relief, euro sinks after weak German survey

Fri, 11/23/2018 - 11:50
European markets opened higher on Friday with most stock indexes rising modestly after a volatile week in which company earnings and growth worries hit stocks, though the euro sank after a weaker-than-expected German business survey.

South Africa to invest $1 billion in South Sudan's oil sector

Fri, 11/23/2018 - 11:48
South Africa will invest $1 billion in South Sudan's oil sector, including in the construction of a refinery, the South African minister for energy and his South Sudanese counterpart for petroleum said on Friday.

ECB rate rise expectations, market inflation gauge tumble after weak PMI

Fri, 11/23/2018 - 11:45
Investors further scaled back expectations for a rise in euro zone interest rates next year, while a key market gauge of inflation expectations fell on Friday to its lowest in a year following weak economic data from the bloc.

U.S. asks allies to shun Huawei equipment, WSJ reports; sector stocks fall

Fri, 11/23/2018 - 11:14
The U.S. government is trying to persuade wireless and internet providers in allied countries to avoid telecommunications equipment from China's Huawei Technologies, the Wall Street Journal reported on Thursday.

Dolce & Gabbana founders seek 'forgiveness' in China with video apology

Fri, 11/23/2018 - 11:06
Dolce & Gabbana's co-founders asked for China's "forgiveness" on Friday, trying to salvage a crucial market for the luxury brand after a backlash against its latest advertising campaign.

China wants trade talks with United States to be equal, mutually beneficial

Fri, 11/23/2018 - 10:54
Trade talks between the United States and China should be equal and mutually beneficial, Chinese Vice Commerce Minister Wang Shouwen said on Friday, adding that he hoped the two countries can find ways to manage their differences through dialogue.

Weaker exports drove German GDP contraction in third-quarter: statistics office

Fri, 11/23/2018 - 10:44
Weaker exports were the primary driver behind Germany's first quarterly economic contraction since 2015, data showed on Friday, confirming a preliminary negative reading of 0.2 percent in the third quarter.

Oil falls to lowest since late 2017 on emerging supply glut, OPEC expected to cut

Fri, 11/23/2018 - 10:41
Oil prices plunged to their lowest since late 2017 on Friday in choppy trading, weighed down by an emerging crude supply overhang and a darkening economic outlook.

Gold prices hold in narrow range; set to post second weekly gain

Fri, 11/23/2018 - 10:41
Gold prices moved in a narrow range on Friday as investors were cautious ahead of a G20 summit next week where leaders of the United States and China are set to discuss their trade dispute.

Telkom Kenya gets $40 million loan from European Investment Bank

Fri, 11/23/2018 - 10:31
Telkom Kenya, the country's third biggest operator, has secured a loan worth $40 million from the European Investment Bank (EIB), the company said on Friday, as it tries to gain market share by expanding its mobile and data services.

Asian LNG prices dragged down by oil slide, heavy supply

Fri, 11/23/2018 - 10:28
Asian spot prices for liquefied natural gas (LNG) tumbled nearly 10 percent this week to a more than three-month low, knocked lower by a slide in oil prices, forecasts for a warmer than average winter and ample supply onshore and in tankers.

Factbox: How Carlos Ghosn's pay compares with other top auto executives'

Fri, 11/23/2018 - 10:27
Carlos Ghosn, one of the most celebrated leaders in the global auto industry, was ousted as the chairman of Nissan Motor Co on Thursday over allegations of financial misconduct including under-stating his income by around 5 billion yen ($44 million) over five years.

India to give 5 percent subsidy for non-basmati rice exports for four months: government

Fri, 11/23/2018 - 09:55
India, the world's biggest rice exporter, will give incentives for non-basmati rice shipments to help boost flagging overseas sales, the government said in an order reviewed by Reuters.

China hopes countries can provide fair environment for Chinese firms

Fri, 11/23/2018 - 09:53
Asked for comment on a Wall Street Journal report regarding China's Huawei Technologies, a foreign ministry spokesman on Friday said China hoped the relevant countries could provide a fair environment for its companies.

Zinc smelter bottlenecks propping up prices, for now

Fri, 11/23/2018 - 09:09
An expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia, putting the brakes on an eye-watering price fall.

Nissan aims to nominate new chairman by around Dec 20: source

Fri, 11/23/2018 - 08:47
Nissan Motor Co aims to nominate a new chairman within a month or two, hopefully before its next board meeting slated for around December 20, a source familiar with the matter said, after the automaker ousted Carlos Ghosn as chairman on Thursday.

Exclusive: Trafigura, BP increase loans to Russia-backed Nayara Energy to $3 billion

Fri, 11/23/2018 - 08:09
Russian-backed Indian refiner Nayara Energy is set to secure its biggest fuel-backed loan, a $1.5 billion advance from Trafigura, BP and some banks, according to industry and banking sources familiar with the matter.

Farmers back in Mumbai to demand land rights, loan waivers

Thu, 11/22/2018 - 11:50
Tens of thousands of farmers from Maharashtra marched to the state capital Mumbai on Thursday to demand loan waivers and the transfer of forest lands to villagers who have farmed there for decades.

Nissan board meets to end Ghosn's two-decade reign

Thu, 11/22/2018 - 11:50
Nissan Motor Co is holding a board meeting to oust Chairman Carlos Ghosn after the shock arrest of its once-revered leader, ushering in a period of uncertainty for its 19-year alliance with Renault.