South-South business critical – Mbeki

Business has a critical role to play to get agreements between South Africa, Brazil and India off the ground, President Thabo Mbeki said on Wednesday night.  iAfrica.com

**Related Link: Download Joint Declaration of First IBSA Summit Meeting

Strong growth in Africa, but...

Sub-Saharan Africa can look forward to another year of healthy growth in 2006, and an even better performance next year, but the region is still failing to meet UN anti-poverty goals, the IMF said on Thursday.  iAfrica.com

China and India 'boosting Africa'

China and India's growing trade and investment in Africa is spurring African economies, says a World Bank report.  BBC

Soros donates $50m to help Africa

US billionaire George Soros donates $50m to a UN project that aims to tackle poverty and Aids in Africa. BBC

UK withholds World Bank donation

The UK is withholding £50m from the World Bank in protest at the conditions it attaches to aid, ministers say. BBC

Continent's Tourism Surges Ahead – UNWTO

For the past three years, international tourism has been booming. Africa has been one of the strongest growth markets, with most destinations showing consistently above average increases in arrivals and receipts. World Tourism Organization / http://allafrica.com

Obasanjo Canvasses New Stock Exchanges for Africa

President Olusegun Obasanjo said the development of Africa would depend on the mobirlization of long term capital through the establishment of new stock exchanges and strengthening of the existing ones like the Nigerian Stock Exchange (NSE) and the Johannesburg Stock Exchange (JSE) Limited.  Vanguard / http://allafrica.com

South Africa: Business Confidence Flirts With 23-Year High

Business confidence during the third quarter of this year rose to 85, near a 23-year high reached in the last quarter of 2004.  Business Day / http://allafrica.com

South Africa: IMF Has Faith in the Rand

The International Monetary Fund (IMF) this week released an upbeat report on the South African economy and dismissed fears that recent volatility of the rand would knock prospects for the country's economic growth.  Sunday Times / http://allafrica.com

Ethiopia: Ethiopia Registers Highest Economic Growth Last Year – President

President Girma Wolde-Giorgis said that Ethiopia has achieved the highest economic growth ever registered in the country during the last Ethiopian year.  The Ethiopian Herald / http://allafrica.com

Mozambique: Inflation So Far This Year Less Than Four Per Cent

On current trends, the Mozambican government's target of an inflation rate of no more than seven per cent this year (compared with over 11 per cent in 2005) will be met.  Agencia de Informacao de Mocambique / http://allafrica.com

Zimbabwe's inflation tops 1,200%

Zimbabwe's inflation rate continues its upward surge, reaching a record high of 1,204.6% in August. BBC

West Africa: Ecowas Secretariat Introduces Policy To Enhance Intra-Community Trade

The Economic Community of West African States (ECOWAS) has mapped up three key areas under which ECOWAS will embark on business integration among its member states for an effective intra-trade in the sub-region.  Ghanaian Chronicle / http://allafrica.com

SA firms crack top S&P list

Seven South African companies have made it into Standard & Poor's new Global Challengers List. The companies are Gold Reef Casino Resorts, Grindrod, Edcon, JD Group, Foschini, Aspen Pharmacare and Ellerine Holdings.  iAfrica.com

Branson slams cell switch delays

Virgin Mobile's Sir Richard Branson said in an open letter that the request to postpone the "long awaited and agreed date" of number portability was "an absolute disgrace and completely unacceptable".  iAfrica.com

Skandia boosts Old Mutual profit

Anglo-South African insurer Old Mutual announced on Thursday a 39-percent rise in first half underlying profit, buoyed by its acquisition in February of Swedish-based rival Skandia.  iAfrica.com

Investec 'on track' for 2007

Specialist banking group Investec advised on Thursday that it experienced a strong performance in the first half of the financial year and is "on track on track to deliver a strong performance for the six-month period".  iAfrica.com

Namibia: Beer Company Anticipates Growth in Headline Earnings

Namibia Breweries Limited, in which Heineken NV and Diagoe Plc have a 29% stake, expects headline earnings per share for the year ended 30 June 2006 to increase by more than 200% compared to those of the same period in 2005.  Namibia Economist / http://allafrica.com

SAB buys Fosters India

South African brewing giant SABMiller plc announced on Tuesday that it has completed the acquisition of the Foster's business and brand in India for $120-million.  iAfrica.com

Rwanda Gets MDGs Boost

Rwanda's efforts to achieve Millennium Development Goals (MDGs) have gained boost, thanks to a new support initiative to some African countries by General Electric (GE), a diversified technology, media and financial services company. The support is part of the foundation's move to expand its philanthropic initiative.  The New Times / http://allafrica.com