Africa

Financial News

Manuel Says South African Economic Policy Won't Change Under New Leader South African Finance Minister Trevor Manuel said the government won't change its economic policies after the ouster of former president Thabo Mbeki on Sept. 25.

South African Rand Rallies From 5 1/2-Year Low on Bets of Bailout Revival South Africa's rand rose against the dollar after the country's stocks gained on speculation the $700 billion rescue package for troubled U.S. financial firms will be revived.

ArcelorMittal South Africa to Cut Steel Prices by Average 10% in November ArcelorMittal South Africa Ltd., Africa's biggest steelmaker, will cut prices for the second time this year, reducing ``key'' long and flat products by an average 10 percent as global demand weakens.

South African Stocks Advance; BHP Billiton, Anglo, Sasol and MTN Climb South African stock rose for the first time in three days, led by MTN Group Ltd. and Standard Bank Group Ltd.

Zimbabwe Tobacco Season Officially Ends; Deliveries Down 40% From Year Ago Zimbabwe's tobacco selling season officially ended last week with deliveries dropping 40 percent from a year ago, the Tobacco Industry and Marketing Board said.

Mauritius Central Bank Forecasts Inflation Rate to be at 10.2% by Year-End Inflation in Mauritius may reach 10.2 percent by the end of this year, Bank of Mauritius Governor Rundheersing Bheenick said.

Nigerian Union Says Chevron Yet to Meet Demands, a Srike in Now Likely A Nigerian oil union said Chevron Corp. hasn't met demands for improved working conditions and threatened to strike at the start of next month.

Kenyan Inflation Accelerates to 28.2% in September, Statistics Bureau Says Inflation in Kenya, east Africa's biggest economy, accelerated to 28.2 percent in September, the National Bureau of Statistics said.

General News

Somali Pirates Die in Shootout on Hijacked Ukrainian Ship, Official Says Three Somali pirates died in a shootout as they argued over how to deal with a hijacked Ukrainian ship carrying a cargo of battle tanks, a maritime official said. Pirates contacted onboard the ship denied there had been a fight.

Helicopter Crash in Sudan's Darfur Region Kills Four, United Nations Says All four people were killed when a United Nations-contracted helicopter crashed in the western Sudanese region of Darfur, the UN said.

Malawi Law Society Urges Ruling on Muluzi's Candidacy in Presidential Vote The Malawi Law Society asked the southern African nation's electoral commission to decide on former President Bakili Muluzi's eligibility to contest next year's election.

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