Chad became the first country to agree to a deal with its creditors, including Swiss commodity house Glencore, under the G20 Common Framework — designed to provide debt relief to developing nations. Reuters was also first to report confirmation of the agreement and exclusively sketched out rare criticism from World Bank President David Malpass. Progress...
Ethiopia’s state finance minister said on Saturday that delays in restructuring Ethiopia’s debt due to the failings of a new global mechanism for resolving debt problems are “disappointing,” adding that he planned to raise it with the head of the International Monetary Fund. Africa’s second-most populous country requested a debt restructuring under the Group of...
[vc_row][vc_column][vc_column_text] Supplies of a vaccine to prevent the deadly rotavirus infection in children have either run out in Kenya, Tanzania, Senegal and Cameroon or are close to doing so, after disruptions at drugmaker GSK. The World Health Organization estimates that up to 200,000 children die each year from the highly contagious infection, which is the...
Coca-Cola’s estimated $3 billion initial public offering for its African bottling unit will likely take place in the third quarter, after market turmoil linked to the war in Ukraine upset plans to list earlier. The flotation of Coca-Cola Beverages Africa would be the biggest on the Johannesburg Stock Exchange since at least 2016 and a...
Five Nigerian oil and gas companies are preparing to submit bids this month for Royal Dutch Shell’s onshore oilfields in a sale that could fetch up to $3 billion, three sources involved in the process told Reuters. Shell started talks with the Nigerian government last year about selling its stake in the West African country’s...
Microsoft is seeking to address European Union (EU) antitrust concerns about its business practices prompted by a complaint from Salesforce.com workspace messaging app Slack. The move, which may head off the opening of a formal EU antitrust investigation, underscores once again Microsoft’s new preference for working out issues with regulators rather than jousting with them...
A deep dive into how HMD Global Oy, the exclusive licensee of Nokia-branded smartphones, has filed a complaint to European Union antitrust regulators against VoiceAge EVS’s patent practices and royalty rates. HMD and VoiceAge EVS are fighting in courts in Germany, the United States and Brazil over various patents for technology related to voice calls.
U.S. chip maker Nvidia Corp is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands. The chip, called the A800, represents the first reported effort by a U.S. semiconductor company to create advanced processors for China that follow new U.S. trade rules.
Production of Apple’s iPhones could slump by as much as 30% at one of the world’s biggest factories next month due to tightening COVID-19 curbs in China.
Ancora Holdings, one of the hedge funds that spearheaded a board shake-up at Kohl’s Corp, is now pushing for the removal of the U.S. retailer’s chief executive and board chairman. The move marks the beginning of a new round of shareholder unrest for Kohl’s after the company explored a sale and decided in July to...