adminKenya fights off port competition
DAR ES SALAAM. — East Africa’s biggest port at Mombasa in Kenya is fighting off competition from neighbouring Tanzania by expanding railways and building new berths to tackle congestion. Kenyan…
New Greek aid linked to budget cut
ATHENS. – ECB board member Joerg Asmussen said yesterday that Europe would consider additional aid to Greece if Athens makes progress on cutting its budget deficit and meets all the…
Kodak’s reorganisation plan gets nod
NEW YORK. – US photography giant Kodak announced on Tuesday that a bankruptcy court had approved its plan of reorganisation, enabling it to emerge from bankruptcy as soon as September…
SA car workers continue strike
Johannesburg. – South African workers at carmakers including Toyota Motor Corp, Bayerische Motoren Werke AG (BMW) and General Motors Co (GM) will strike for a fourth day today while employers…
Germany clears Vodafone, Kabel Deutschland deal
FRANKFURT. – The German competition authorities said yesterday they saw no objections to plans by British mobile phone giant Vodafone to take over Kabel Deutschland, Germany’s biggest cable operator. “Following…
Russia to downgrade growth forecast
MOSCOW. – Russia’s economy minister warned yesterday that officials will probably have to downgrade the 2013 growth forecast for the second time in months because of a poor first-half performance.…
China joins fight against tax evasion
PARIS. – China is set to join a group of 50 developed and developing countries in the fight against tax evasion by signing a co-operation agreement at the end of…
Japan eyes sales tax hike
TOKYO. – Bank of Japan governor Haruhiko Kuroda has said a government tax-hike plan would not damage the economy, but if it does he “won’t hesitate” to adjust monetary easing.…
Gold prices ease as dollar firms
LONDON. — Gold prices fell yesterday, under pressure from gains in the dollar and uncertainty over whether the US Federal Reserve will begin curbing its bullion-friendly economic stimulus measures from…
Facebook unveils global Internet access initiative
NEW YORK CITY. — Facebook and other technology giants launched an initiative yesterday designed to give the whole world access to the Internet. The project is entitled Internet.org and its…