Africa’s leading mobile telecommunications infrastructure Provider, IHS Towers has signed a deal with Etisalat Nigeria to purchase 2,136 of its towers, estimated by Reuters, to the tune of $400 million. The deal will also see the Nigerian-headquartered company lease back the towers to Etisalat as well as invest $100 million into its upgrade and the improvement of its efficiency.
Updated 5 Years ago

The Nairobi City Council (NCC) has called for tenders for the construction of a 17-storey car park at the central business district, estimated to cost Sh4 billion ($45.5 million) and accommodate up to 3,000 vehicles. The high-rise building will be erected on the Sunken Car Park land, which currently has less than 500 slots. Apart from the parking spaces, the building will also have office and commercial spaces.
Updated 5 Years ago

The exploration subsidiary of Fleurette Group, Oil of DRCongo, on Thursday said the analysis of 3D seismic surveys, worth about $75 million acquired in 2013-14, indicated oil reserves of about 3 billion barrels in blocks I and II in Lake Albert, on Congo’s eastern border with Uganda. “These are very positive results from our extensive seismic campaign,” said Giuseppe Ciccarelli, CEO of Oil of DRCongo.
Updated 5 Years ago

Johannesburg Stock Exchange (JSE)-listed CAMAC Energy Inc has announced preliminary results of its Oyo-8 development in Nigeria’s offshore space in OML 120, after drilling commenced on June 15, 2014. According to CAMAC, which is also listed on the New York Stock Exchange (NYSE), four new oil and gas reservoirs were discovered, with total gross hydrocarbon found, 34 metres thick. The Oyo field development had both a vertical and a horizontal section.
Updated 5 Years ago

Loss-making Italian airline Alitalia will seal its tie-up with Gulf carrier Etihad on Friday, the government said, a deal that comes as the country’s flagship airline was on the brink of bankruptcy and that protects more than 10,000 jobs. After a final meeting between government officials and the chief executive of the Abu Dhabi carrier James Hogan on Thursday morning, Transport Minister Maurizio Lupi announced an agreement that followed several months of negotiations.
Updated 5 Years ago

Dubai-based Emirates has announced that it will increase services to Morocco by adding a second daily flight starting September 1, 2014. The move will boost the airline’s services to 14 weekly flights to the North African country, a statement said. Emirates will also upgrade its aircraft on the route from an Airbus A340-500 to a Boeing 777-300ER that will comprise of eight first class private suites, 42 flat-bed seats in business class and 310 economy class seats.
Updated 5 Years ago

She locks herself in her room at times, dressed in nothing but her undies — playing online games. This is what they call the Otaku Syndrome, a term that originated from Japan that refers to young people so obsessed with manga and games that they do not leave the house. Looking at the photos of Shao Xiaomeng posted on her site on WeChat, it is hard to imagine her as a victim of online obsession. The image the 24-year-old model presents online is an energetic, outgoing and undoubtedly gorgeous young lady.
Updated 5 Years ago

China's Ministry of Commerce (MOC) said on Thursday that it regretted the World Trade Organization's (WTO) decision to uphold a previous ruling against China's management of rare earth exports. China regrets the WTO's final ruling that China's export duties, quotas, and administration of rare earths, tungsten and molybdenum products were inconsistent with WTO rules and China's Accession Protocol, said a MOC official.
Updated 5 Years ago

As 80 percent of Chinese cities with home-purchase restrictions moved to lift them amid cooling property markets, mega-cities such as Beijing, Shanghai, Guangzhou and Shenzhen continue to enforce restrictions. Home purchasing restrictions have been strictly implemented in the four cities and there won't be any changes in a short term, 21 Century Business Herald reported on Friday citing officials and industry sources.
Updated 5 Years ago

China's export volume was stronger than expected in July due to recovering external demand, with the monthly trade surplus hitting an all-time high, according to new customs data published on Friday. Last month, exports surged 14.5 percent from the previous year reaching $212.9 billion, while imports dropped 1.6 percent to $165.6 billion, the General Administration of Customs (GAC) said in a statement.
Updated 5 Years ago