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Emerging Markets Business News
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Monday, 01 February 2010 16:37 |
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Abuja, Nigeria - Speculations that the oil giant, Shell, was relocating from oil rich Niger Delta of Nigeria because of the violence in the region have gained currency as it has been confirmed selling $5 billion assets to a consortium led by a Nigerian company.
A statement issued by its spokesperson, Mr. Precious Okolobo, on Saturday in Lagos said Shell Nigeria Petroleum Development Company, "agreed to transfer its interest in three production licences and related equipment in the Niger Delta to a consortium led by two Nigerian companies."
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Monday, 01 February 2010 16:31 |
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Addis Ababa, Ethiopia - The World Bank on Sunday announced the donation of $15 billion development assistance to Africa over the next three years, World Bank group president Robert B. Zoellick, disclosed in Ethiopia.
Zoellick told African leaders that the bank will continue its strong support to Africa, which is supporting various development activities across various countries in the continent.
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Sunday, 24 January 2010 10:34 |
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CAIRO, Egypt - Net foreign reserves of the Egyptian Central Bank increased by $2.8 billion at the end of November 2009, compared to its levels in June of the same year, the Egyptian Central Bank revealed here on Saturday.
The Central Bank report issued on Saturday estimates that these reserves had reached about $34.1 billion at the end of November 2009, compared to $31.3 billion at the end of the fiscal year 2008 / 2009 in July 2009.
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Tuesday, 15 December 2009 19:10 |
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Moscow, Russia - Russia has indicated its preparedness to help Nigeria to build its first nuclear power plant as soon as possible and feasible, APA learns from the Russian Foreign ministry and Nigerian embassy sources in Moscow on Tuesday.
The relevant agreement has been reached at a meeting in Moscow between Nigerian Science and Technology Minister Alhassan Bako Zaku and head of Russia's State Atomic Energy Corporation Rosatom Sergei Kiriyenko, local media report here.
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Tuesday, 15 December 2009 18:43 |
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Lagos, Nigeria - Nigeria's Minister of Transport, Alhaji Ibrahim Bio, says trains will run across Nigeria by 2010 in compliance with Nigerian President Umaru Yar`adua`s "matching orders'' to the Nigeria Railway Corporation (NRC).
Speaking during a tour of the corporation's ongoing rehabilitation projects in Lagos on Monday, Bio said that the Nigerian government's investment in NRC projects was in realisation of the pivotal role the railway played in socio-economic development of the country.
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