BRICS members hail integration ahead of July forum

Last Updated: Friday, June 19, 2015, 18:22

BRICS member states --Brazil, Russia, India, China and South Africa -- cheered new integration trends with the announcement of the formation of the BRICS Development Bank, ahead of the group`s upcoming forum in July.

Airtel-HTA pact for tower sale in Tanzania, Tchad falls through

Last Updated: Wednesday, June 17, 2015, 19:42

Bharti Airtel Wednesday said its agreement with Helios Towers Africa for sale of tower assets in Tanzania and Tchad signed last year has been terminated.

Nestle cuts 15% of its Africa workforce: Report

Last Updated: Wednesday, June 17, 2015, 08:54

Swiss food and drinks company Nestle SA is cutting 15 percent of its workforce in 21 African countries because it says it overestimated the rise of the middle class, the Financial Times reported.

Africans negotiate `one trade regime` for common market

Last Updated: Sunday, June 7, 2015, 20:37

The business community, in particular, would benefit from an improved and harmonised trade regime which reduces the cost of doing business as a result of the elimination of overlapping trade regimes, officials say.

Aditya Birla Nuvo forms JV with South Africa's MMI holdings

Last Updated: Thursday, June 4, 2015, 12:21

Diversified entity Aditya Birla Nuvo Ltd (ABNL) today announced formation of a joint venture with MMI Holdings -- a South African insurance based financial services group -- to enter Indian health insurance and wellness market.

Strides buys Aspen's Australia drug assets for A$380 mn

Last Updated: Thursday, May 21, 2015, 14:46

Strides Arcolab on Thursday said it will acquire South Africa's Aspen Pharmacare's portfolio of branded and generics products in Australia for about Rs 1,910 crore.

Tractor manufacturer Escorts buoyant about prospects in Africa

Last Updated: Thursday, May 21, 2015, 12:52

Leading Indian tractor manufacturer Escorts Limited is buoyant about its prospects in Africa after its latest products got positive response at the largest farmers' trade fair in the continent.

South Africa`s inflation climbs to 4.5%

Last Updated: Wednesday, May 20, 2015, 18:20

Nedbank says the rate was now on an "upward trend" that will see it end the year at slightly below the central bank`s six percent upper target range.

Smartphone supply to Middle East, Africa up by 83% in 2014

Last Updated: Tuesday, April 28, 2015, 13:55

Smartphone shipments to the Middle East and Africa saw an unprecedented year-on-year growth of 83 percent in 2014, according to a report.

Airtel Africa appoints ex-MTN executive as MD for Chad

Last Updated: Thursday, April 23, 2015, 11:46

Telecom major Bharti Airtel on Thursday announced that its African unit has appointed former executive of South Africa-based telecom operator MTN, Anwar Soussa, as the Managing Director for Airtel Chad with effect from May 1.

Heineken, CFAO to build $164 mn brewery in Ivory Coast

Last Updated: Thursday, April 23, 2015, 01:00

Heineken NV , the world`s third largest brewer, and Africa-focused trading firm CFAO will invest 100 billion CFA francs ($163.52 million) to build a brewery in Ivory Coast, a Heineken company official said on Wednesday.

IMF slashes growth forecast for Mideast oil exporters

Last Updated: Tuesday, April 14, 2015, 19:05

The International Monetary Fund slashed growth forecasts Tuesday for Middle East and North Africa (MENA) oil exporters over a steep drop in crude prices, raging conflicts and continued uncertainty.