Reuters: Investing News

Congo-Republic government sees oil boosting growth in 2010

Mon, 09 Nov 2009 16:45:36 +0000

BRAZZAVILLE (Reuters) - The Republic of Congo's economy will grow at 12.1 percent in 2010 due to an increase in oil revenues, allowing the central African nation to double planned budgetary spending, a government spokesman said.

Weather blamed for fall in Togo cotton volume

Mon, 09 Nov 2009 17:33:28 +0000

LOME (Reuters) - Togo's cotton output is set to fall to a record low of just 30,000 tonnes in the 2009/10 season from 40,000 the year before, the national cotton company said on Monday, citing the impact of irregular rains on production.

Morocco to upgrade power link with Spain

Mon, 09 Nov 2009 18:01:17 +0000

LONDON (Reuters) - Morocco plans to add 700 MW of capacity on its subsea power cable link with Spain by 2012 and to become a net exporter to Europe by 2014, an energy ministry official said on Monday.

S.Africa's stocks climb on metals, banks; rand firms

Mon, 09 Nov 2009 16:14:00 +0000

JOHANNESBURG (Reuters) - South Africa's blue-chip stocks jumped on Monday, lifted by banks and as higher commodity prices drove miners up, while also helping the rand extend last week's gains to a two-week high.

Gold hits record above $1,110/oz as dollar slides

Mon, 09 Nov 2009 13:46:43 +0000

LONDON (Reuters) - Gold hit a record high above $1,110 an ounce in Europe on Monday as the dollar index slid 1 percent on expectations U.S. interest rates will remain low, boosting interest in the metal as an alternative asset.

Africa blocs draft giant free trade roadmap

Mon, 09 Nov 2009 15:42:20 +0000

DAR ES SALAAM (Reuters) - Three African trade blocs that have agreed to form a free trade area covering more than half a billion people created a long overdue roadmap on Monday.

Sundance raises cash for Cameroon iron plan

Mon, 09 Nov 2009 15:45:28 +0000

YAOUNDE (Reuters) - Australian miner Sundance Resources has raised A$85 million from institutional investors to advance its Mbalam iron ore project in Cameroon, the company said on Monday.

Eskom CEO stays, chairman quits as struggle unfolds

Mon, 09 Nov 2009 15:40:13 +0000

JOHANNESBURG (Reuters) - The resignation of South African power utility Eskom's chairman and return of its chief executive signalled an end to a leadership drama that erupted last week, but analysts say it could unnerve foreign investors.

World Cup profiteering could hurt tourism, says Jordaan

Mon, 09 Nov 2009 14:22:48 +0000

LONDON (Reuters) - Spiralling prices for accommodation during the World Cup could damage South Africa's prospects of enticing tourists back after the competition, the event's chief organiser said.

Nigeria's FCMB swings to loss in half year to October

Mon, 09 Nov 2009 15:13:47 +0000

LAGOS (Reuters) - Nigeria's First City Monument Bank (FCMB) said on Monday it had swung to a pre-tax loss of 479 million naira in the six months to the end of October but pledged a return to profitability next year.