Africa

Financial News

Rand Declines Most in World on Concern That Recession Will be Prolonged The rand weakened for a second day, erasing this week’s gain, as concern deepened the global recession may be prolonged, eroding demand for South Africa’s exports.

Nigeria, Algeria, Niger Sign Accord on Trans-Saharan Natural Gas Pipeline Nigeria, Algeria and Niger signed an agreement on a proposed Trans-Saharan pipeline that will ship natural gas from Nigeria to Europe.

South African Equities Report: Adcock, BRC, Hudaco, Sasol Shares Decline South Africa’s FTSE/JSE Africa All Share Index added 48.88, or 0.2 percent, to 22,234.35 in Johannesburg. The move pared this week’s decline to 0.3 percent.

Arcelormittal Slows Senegal Iron Ore Project, Yet to Make Final Decision ArcelorMittal, the world’s biggest steelmaker, “slowed down” the pace of its investment in Senegal as the global economic slowdown curbs demand.

On Digital Media May Start a Pay-TV Service to Rival Naspers Before 2010 On Digital Media Ltd. may begin pay- television services to compete with Napers Ltd. in South Africa before 2010 if the start-up gets a license to transmit signals itself, Chief Technology Officer Frans Lindeque said.

Naspers Shares Rise to 15-Year High on Support for Tencent's Listing Plan Naspers Ltd. rose to the highest in 15 years after Africa’s largest media company said it supported a secondary listing in mainland China for Hong-Kong traded Tencent Holdings Ltd., in which it owns a 35 percent stake.

Kenyan Stocks Little Changed: Mumias Sugar, Total Kenya Shares Are Active Kenya’s price-weighted All-Share Index was little changed this morning after the index closed higher for five of the past six trading days.

Anglo American Would Perform Better Under Xstrata Boss, Ex-Executive Says Anglo American Plc, which rejected a 22.5 billion-pound ($36.8 billion) merger proposal from Xstrata Plc, would perform “overwhelmingly better” under Xstrata management, former Anglo Deputy Chairman Graham Boustred said.

General News

Jubilee Platinum Says It Plans to Make a Firm Offer For Braemore Resources Jubilee Platinum Plc said it intends to make a firm offer for Braemore Resources Plc.

Ivory Coast Plans New Cotton Seed; May Boost Output by 41%, Group Says Cotton production in Ivory Coast may increase by as much as 41 percent in the 2010-11 harvest as the country introduces a new seed variety for planting.

Malawi's Economy to Grow 7.9% This Year, Finance Minister Says Malawi’s economy will expand 7.9 percent this year following a bumper harvest, Finance Minister Ken Kandodo Banda told parliament in his budget speech today.

World Currencies 

Commodity Futures 

Energy Prices 

World Indexes