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Africa/International
China mobile posts first fall in profit since 1999
China Mobile Ltd., the world’s biggest phone company by market value, had its first decline in profit since 1999 after adding fewer customers as competition intensified.
Second-quarter net income fell to 30.1 billion yuan ($4.4 billion)…
US to trim budget deficit to $1.58 trillion
The Obama administration will trim its budget deficit forecast for fiscal 2009 to $1.58 trillion, after scrapping money earmarked for bailing out more banks, officials said on Wednesday.
The record deficit has made investors anxious and…
Asian stocks rise after Chinese shares rebound from bear market
Asian stocks gained, lifting Chinese equities from a bear market, as Brambles Ltd. and Bank of Communications Ltd. reported better-than-estimated earnings.
Brambles, the world’s biggest supplier of pallets, surged 5.8 percent in Sydney,…
Swiss bank, UBS to hand over 4,450 names to the US
In a landmark development in Swiss banking history, known for its secrecy, Swiss bank UBS AG will hand over some 4,450 names of American account holders to US authorities, the Wall Street Journal has reported.
The decision is part of a…
Japanese, Australian stock futures up
Japanese and Australian stock futures gained as U.S. oil inventories unexpectedly declined, sparking a rally in crude prices.
U.S.-traded receipts of BHP Billiton Ltd., Australia’s largest oil producer, gained 1.2 percent from the closing…
US stocks gain on energy shares rise
U.S. stocks gained for a second day as energy shares climbed on a rebound in oil and Merck & Co. led drugmakers higher after a judge upheld a patent, helping the market erase an early drop triggered by a retreat in China. Ten- year…
Swiss Banks court new markets, they shun Americans over secrecy erosion
Swiss private bankers are turning to emerging markets and shunning American clients as the government’s agreement to hand over the details of 4,450 UBS AG accounts to U.S. authorities erodes bank secrecy.
Yesterday’s settlement in a…
Tyranny in The Gambia: Six jailed journalists appeal against harsh sentences
Six Gambian journalists jailed for supposedly defaming President Yahya Jammeh of the Gambia, on August 17, 2009, filed an appeal challenging the two-year jail sentences and outrageous fines of 500, 000 Gambian Dalasis each (about 18, 000…
Safaricom of Kenya shares advance on outlook, tax break
Safaricom Ltd., Kenya’s biggest company by market value, climbed 2.7 percent as it bought a business to capitalize on the demand for high-speed internet expectations of a forthcoming tax concession.
The company’s shares rose 0.1 shillings…
Cameroon tightens cocoa industry rules to improve bean quality
Cameroon tightened rules governing its cocoa industry to improve the quality of beans.
The government has banned cocoa buyers from imposing a single price and disallowed the practice of mixing cocoa beans of different qualities in stores…