NIGERIA

Businessmen chat in front of a Standard Bank logo in Sandton outside Johannesburg

Standard Bank targets Africa's SME sector

Standard Bank Group is now financing small and medium-sized (SME) enterprises, tapping into a lucrative segment that was previously ignored by mainstream lenders but is increasingly on the agenda for most African governments.

Nigeria fines BA, Virgin Atlantic total $235 mln

British Airways
Nigeria said on Thursday it was fining airlines British Airways and Virgin Atlantic a total of $235 million, as an ongoing row between Britain and Africa's most populous nation over landing slots and ticket prices escalates.
Truworths

Mr Price H1 profit up, to enter Nigeria

South Africa's third-biggest listed clothes retailer, Mr Price, reported a 22 percent rise in first-half profit as above-inflation wage increases and decades-low interest rates lift consumer spending in Africa's biggest economy.
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Smoke and flames billow from a burning oil pipeline in Nigeria

Fire Out on Shell Nigeria Pipeline, Output Curbed

Fire broke out on Wednesday on the Okordia/Rumuekpe oil pipeline in Nigeria and some production has been shut down, but the blaze has since been put out, a spokesman for operator Royal Dutch Shell said.
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Nigeria dismisses US embassy's hotel bomb warning

Nigeria's national security adviser on Monday dismissed a warning from the United States of an Islamist bomb threat to luxury hotels in the capital as not news, and said it was spreading unnecessary panic.
Central Bank of Kenya

Kenya's CBK shows teeth with sharp rate rise

Kenya's central bank bared its teeth against stubbornly high inflation on Tuesday with a record rate rise that is seen supporting the shilling, boosting appetite for long-term bonds and helping secure the approval of extra funds from the IMF.

Nigerian court rejects challenge to Jonathan win

A Nigerian court rejected a challenge to President Goodluck Jonathan's victory in an April election and rejected demands by the main opposition party for a recount in several areas of the country.
Nigeria

Nigeria cbank to review naira, likely 155-156/dlr target

Nigeria's Central Bank Governor Lamido Sanusi said on Monday the bank would review its target band for the naira in the next few days, and depending on where the exchange rate settles may move its midpoint to 155/156 to the dollar, compared to its current 150.
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Nigeria arrests 46 oil thieves, seizes ship

Nigeria's military said on Monday they had detained a small oil tanker and arrested 46 people trying to ship illegally refined oil products, pursuing a fight against an underground industry worth hundred of millions of dollars a year.

Nigeria cbank takes new steps to stabilise naira

Nigeria's central bank said on Friday it will sell U.S. dollars both directly into the market and at auctions, while it lifted the amount of dollars banks' can hold in reserve, in a continued effort to stabilise the naira currency.
A money dealer counts the Nigerian naira on a machine in his office in the commercial capital of Lagos

Nigerian interbank rates rise on low cash

The Nigerian interbank lending rates climbed on Friday to an average of 14.50 percent from 13.50 percent last week as system liquidity thins out with outflows to bonds and foreign exchange purchases by lenders.
Angola's President Jose Eduardo dos Santos talks to journalists after a signature agreement ceremony held at Sao Bento Palace in Lisbon, Portugal

Angola sees 2011 GDP growth lower than expected

President Jose Eduardo Dos Santos cut Angola's growth forecast for 2011 to 3.7 percent on Tuesday due mainly to lower crude production but the economy should bounce back with a 12 percent expansion next year.
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Nigeria new car imports up 40 pct ytd: dealers

Nigeria's new car imports jumped 40 percent in the first nine months of 2011 compared to the same period last year, although sales were expected to slow given rising interest rates and local currency weaknesses, import dealers said on Monday.

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