Fund to spur African investment

Business and political leaders in Africa launch a $550m (£294m) fund to promote investment in the region. BBC

Intra-African trade must deepen

Even if the latest round of the protracted Doha trade negotiations broke down, it was imperative for developing countries to deepen trade among themselves, the World Economic Forum summit heard on Wednesday. iAfrica.com

'Continent Growing Faster Than World' – Survey

Sub-Sahara African economic development grew steadily over the last three years at a faster pace than world economies, according to the recently released Survey of Economic and Social Conditions in Africa. Business in Africa / http://allafrica.com

EU Pledges Billions in Aid

The meeting between the European Union and the African, Caribbean and Pacific Group of States (ACP) opened here yesterday with a new 23.6 billion euro development pledge. The Nation / http://allafrica.com

WTO Agriculture Deal Still Far Off

The future of a new international deal on agriculture hangs by a thread as agreement remains elusive on key targets that will signal the official start of negotiations. Southern African News Features  / http://allafrica.com

Oilmen kidnapped from Nigeria rig

Eight foreign oil workers are kidnapped from an offshore oil rig in southern Nigeria. BBC

South Africa: China to Curb Textile Sales to SA

China has committed itself to restrict textile exports to SA, a senior Chinese commerce department official said yesterday ahead of a tour to SA and several other African states by Chinese Premier Wen Jiabao. Business Day / http://allafrica.com

SA 'set' for higher economic growth

Following SA's first quarter gross domestic product (GDP) growth of 4.2 percent quarter-on-quarter, SA is now in line for higher GDP growth later this year, economists have said. iAfrica.com

Rwanda: Economic Policies On Track - IMF Boss

President Paul Kagame being received by the IMF Managing Director, Rodrigo de Rato at the financial body's headquarters in Washington D.C. Rwanda's stable macro-economic policies implemented since the country's 1994 genocide has translated into sustainable growth, crucial for continued funding. The New Times / http://allafrica.com

Nigeria: Country Good for Business, Says IMF

The International Monetary Fund (IMF) has commended the on-going economic reform programmes of the Federal Government, stating that Nigeria is becoming a good environment for investment. Vanguard / http://allafrica.com

Nigeria: 65 Percent of Nigerians Shun Banking

Over 60 percent of the Nigerians don't patronise formal financial Institutions, Central Bank of Nigeria (CBN) Director, other financial institutions department, Mr. Sam Oni has said. Daily Trust / http://allafrica.com

Uganda: Mobile Phone Charges Push Inflation to 7%

The increase in mobile phones tariffs, fuel and manufactured consumer products have pushed Uganda's headline inflation rate to 7.0 percent. The Monitor / http://allafrica.com

Zimbabwe: Inflation Moves Towards 2000 Percent

A financial services company has said that Zimbabwe's inflation may soon reach 2000 percent, after breaking 1000 percent in April. Business in Africa / http://allafrica.com

Botswana: Employment Rate Still Sluggish

The rate of employment remains sluggish resulting in massive job losses in the construction sector in the previous year, a report released by the Central Bank has said. Mmegi/The Reporter  / http://allafrica.com

Nigeria: Shell Cuts Output After Oil Spill

Shell has cut production by 50000 barrels per day after an oil spill in southern Nigeria. Business in Africa / http://allafrica.com

Kenya: Kenya Airlines Posts Record Growth

Kenya Airlines reported record results on Wednesday, with after-tax profits increasing from 3.88bn Kenya shillings (about $54mn) to 4.83bn shillings (about $67mn). Business in Africa / http://allafrica.com

Nigeria: Econet Moves to Halt V-Mobile, Celtel Deal

The $1bn battle for control of Nigerian cellular network V-Mobile is far from over, even though the pan-African operator Celtel said it had sealed the deal yesterday as ECONET Wireless International (EWI) has filed a court application in Nigeria aimed at blocking the over $1bn takeover bid of Vmobile by Celtel International. This Day / http://allafrica.com

Nigeria: Celtel Opts Out of Nitel Privatisation

After successfully acquiring a controlling stake in Nigeria's mobile operator, Vmobile, Celtel International has said it is no longer interested in going ahead with the bid for Nigeria's national carrier, the Nigeria Telecommunications Limited (NITEL). This Day / http://allafrica.com

Cellphone banking takes off

The number of Absa clients using cellphone banking has grown by 140 percent since it launched free cellphone banking to the market in October 2005, the group said on Thursday. iAfrica.com

Cadbury's buys major SA gum firm

Confectionery giant Cadbury Schweppes buys South Africa's leading chewing gum company. BBC