World Bank Chief Says African Development Remains Top Priority

"Don't blame the people for development failure," said World Bank President Paul Wolfowitz, who added that Africa remains his first development priority and stressed that government policy is an important component to successful economic development. United States Department of State / http://allafrica.com

G8 leaders seek trade talks push

G8 leaders ask counterparts from developing countries to help them push for a breakthrough on trade talks. BBC

G8 in St Petersburg ends a "damp squib" - ActionAid

President Putin and leaders of the world’s richest countries had a real opportunity at the G8 in St Petersburg to take stock on the promises they made last year in Gleneagles. Instead they failed to seize the moment. ActionAid

'Invest in Africa', world told

Stressing gains in financial stability and democratisation, African heads of state meeting with hundreds of foreign business leaders called on Monday for stepped-up investment in the continent. iAfrica.com

'Market Volatility Highlights Africa's Appeal'

Africa's appeal as an investment destination has been highlighted rather than dented by recent equity volatility and negative emerging market sentiment, according to a financial services group. Business in Africa / http://allafrica.com

Plans Launched to Mitigate Brain Drain

Two initiatives launched this month aim to mitigate the 'brain drain' caused when scientists and others emigrate from African countries to work elsewhere. SciDev.Net / http://allafrica.com

EC Launches Partnership to Develop Africa

The European Commission has approved a partnership proposal on infrastructure between the European Union and Africa. The partnership aims to respond to the objectives set out by the African Union and NEPAD. Namibia Economist / http://allafrica.com

Namibia: Cross-Border Rail Link Opens Regional Trade

The Northern Railway Extension is the first new rail project to be completed in southern Africa in many years and a proud achievement for the country. The Namibian / http://allafrica.com

Tanzania: Country Registers More FDI

The flow of foreign direct investments into Dar es Salaam in the first half of this year went up by 28.5% compared to what was registered the same period last year. East African Business Week / http://allafrica.com

Zimbabwe: No Respite for Sinking Economy

Three months into Zimbabwe's ambitious economic blueprint, the National Economic Development Priority Programme (NEDPP), the country's economy is still experiencing a steep decline. Zimbabwe Independent / http://allafrica.com

Zimbabwe: Country Is Best Performing Share Market

The Zimbabwe Stock Exchange was Africa's best performing share market according to a Ghanaian survey.  Business in Africa / http://allafrica.com

Kenya: Cargo Ban 'Has Grounded Airport'

Eldoret International Airport managers fear that business will drop further due to a Government ban on off-loading of cargo on transit to other destinations. The Nation / http://allafrica.com

Uganda: Flower Investors Look for Greener Pastures

Kenya, Rwanda and Ethiopia's efficient and cheap power, and elastic investment incentives are attracting away flower investors from Uganda. The Monitor / http://allafrica.com

South Africa: BHP sells mine for $75m

Global resources group BHP Billiton on Tuesday announced that it had agreed to sell its Koornfontein coal mine to an entity controlled by an empowerment consortium for $75-million. iAfrica.com

South Africa: Cell C downgraded

International credit ratings agency Moody's Investors Service has downgraded South Africa's third mobile operator Cell C's Corporate Family rating and related debt issues. iAfrica.com

South Africa: Shoprite turnover up 12.8%

Retail group Shoprite Holdings on Monday reported that for the 12 months to July 2 it had increased turnover by 12.8 percent to approximately R33.5-billion, compared to the compared to the corresponding 12 months of 53 weeks in 2005. iAfrica.com

Woolies reports strong sales

Retail group Woolworths Holdings reported on Thursday that it had increased sales for the 52 weeks to June 2006 by 16.3 percent compared to the same period last year. Comparable store sales growth was 9.9 percent. iAfrica.com

FNB invests R2bn in SA housing

First National Bank on Tuesday increased its investment in housing to just under R2-billion this year, with the unveiling by government of Phase 2 of the N2 Gateway housing initiative in Cape Town. iAfrica.com

24.com Opens Its Digital Doors for Business

In what is being heralded as the biggest online launch since the advent of the Internet in South Africa, Media24 has merged its digital arm with MWEB Studios, the division responsible for the development of web-based services, to create 24.com. Headed-up by Chief Executive Officer, Kim Reid, 24.com is the result of a Naspers drive to fuse complimentary digital properties into a consolidated and unsurpassable destination on the Internet for consumers. Highway Africa News Agency / http://allafrica.com

South Africa: Cellphone Banking Facing an Identity Crisis

Efforts to increase access to financial services using cellphone technology could be dealt a blow once new surveillance legislation is enacted, say experts. Business Day / http://allafrica.com