Home / Africa/International (page 689)

Africa/International

Why Chinese companies are doing well despite global credit crunch

Mr Dai Shu, Vice-President of ZTE Shanghai, manufacturers of telecommunication equipment, has explained that the success of Chinese companies in the face of the world financial crisis was due to the strong support of the government and financial institutions. He said the feat was also due to the innovation of …

Read More »

Ghana named in international visa scam

Ghana has been named in an international scam that is promising visas to anyone and anywhere in the world. A news report carried by Abu Dhabi publication Khaleej Times is warning people who are interested in getting visas to Canada, Australia or any of the European countries to be ware. …

Read More »

Chinese investments in Africa increase opportunities

Last week, the founder of the consultancy group Beijing Axis touched on a phenomenon occurring in South Africa that is being replicated across the African continent. “Far more Chinese companies are doing deals very quickly … What is to follow will be far, far greater,” Kobus van der Wath said …

Read More »

Gold drops on profits

Gold futures ended slightly lower but held above $950 an ounce on Friday as investors took profits, but inflation concerns amid economic optimism should continue to stir investment demand. Even though the price of gold did not rally further this week, bullion should be well supported at current levels because …

Read More »

Ericsson buys Nortel’s wireless for $1.13b

Sweden’s Ericsson has won an auction for the wireless assets of bankrupt Nortel Networks Corp, paying $1.13 billion for the crown jewels of the one-time Canadian telecom star. In separate statements, the two companies said on Saturday Ericsson had won the bidding for Nortel’s key CDMA and next-generation LTE wireless …

Read More »

S&P 500 short interest drops

Wagers against the Standard & Poor’s 500 Index declined for the first time since May as investors shorted fewer shares of financial institutions, including a 92 percent reduction in bets on American International Group Inc. Short interest on the S&P 500 fell to 9.98 billion shares as of July 15, …

Read More »

US recession eased in second quarter – Survey

The worst U.S. recession in five decades probably eased in the second quarter as trade and government stimulus mitigated the damage from declines in housing, inventories and consumer and business spending, economists said before a report this week. The world’s largest economy shrank at a 1.5 percent pace following a …

Read More »

Obama: Health care reform to benefit small businesses

President Barack Obama said Saturday that Democratic plans to revamp the U.S. healthcare system would benefit small businesses, an argument that quickly drew criticism from his Republican opponents. Obama is trying to build more public support for a broad healthcare overhaul after action stalled in the U.S. Congress this week …

Read More »

Bill Gates quits Facebook over too many friends!

Microsoft co-founder Bill Gates said he was forced to give up on the social networking phenomenon Facebook after too many people wanted to be his friend. Gates, the billionaire computer geek-turned-philanthropist who was honoured Saturday by India for his charity work, told an audience in New Delhi he had tried …

Read More »

Liberia ratifies offshore deals with Anadarko, Oranto

Liberia’s parliament ratified offshore exploration deals with Anadarko Petroleum Corp., the second-largest independent U.S. oil producer, and Oranto Petroleum Ltd., based in the West African state of Nigeria. Liberian President Ellen Johnson-Sirleaf signed the two deals on Thursday, enabling the two oil companies to start operations, Cyrus Badio, Liberia’s presidential …

Read More »