Rich nations 'must increase aid'

Rich nations need to increase their funding to poor countries if they are to meet aid commitments a report says. bbc.co.uk

WTO Action Needed On Cotton Subsidies

Trade distortion measures on cotton must be dealt with by the developed world urgently and expeditiously, according to the head of the World Trade Organisation. The Monitor / http://allafrica.com

Foreign Investment for Poverty Reduction

Reports claim global FDI inflows rose substantially in 2005, with the strong growth leading to an increase in the inflows to developed countries. Rising global demand for commodities was reflected in the steep increase in natural resource-related FDI, although the services sector continued to be the major recipient of FDI. This Day / http://allafrica.com

Continent On Course for NEPAD Broadband Network

African countries are on course to build the New Partnership for Africa's Development (Nepad) Information and Communications Technology (ICT) Broadband Network. BuaNews / http://allafrica.com

Launch of NEPAD Business Foundation’s Business Guide

We are pleased to announce that the Nepad Business Foundation, together with a leading business publisher, have embarked on an exciting venture to publish our first official NEPAD Business Foundation (NBF) Business Guide. The Guide will be distributed to a prime data base of 15 000 business decision-makers, which will ensure that the right people are informed about key information relating to the NEPAD Business Foundation, doing business in Africa, as well as to your particular organisation. Click here for the media release. NEPAD Business Foundation

South Africa: A cautious budget from a position of strength

Strong revenue overruns and an economy operating at full capacity set the scene for this year’s budget. Nedbank

African farmers face backlash

Kenyan produce farmers despair as they fall foul of anti-food mile efforts in Europe. bbc.co.uk

AfDB Group supports Access to Drinking Water Supply and Sanitation in Rural Niger

The government of Niger’s efforts to improve the living conditions of the people have received a big boost from the African Development Bank (AfDB) Group, following the approval of a grant to finance a water supply and sanitation project in three rural regions of the country. African Development Bank Press Release

Zambia: Government Signs MOUs with South Africa

Zambia and South Africa have signed Memorandum of Understandings (MOUs) in trade and industry, health, justice, science and technology and vocational training sectors to boost bilateral agreement between the two countries. The Times of Zambia / http://allafrica.com

Uganda: Country Sells More Textiles to America

President Yoweri Museveni yesterday flagged off the first textile consignment made from naturally grown cotton for export to the United States of America with a call to industrialise Uganda. New Vision / http:allafrica.com

Ghana: President Urges SMEs to Take Advantage of Enabling Business Environment

President John Agyekum Kufour has called on the business community, especially Small and Medium-scale Enterprises (SMEs), to take advantage of the enabling business environment to forge strategic partnerships for expanding trade and enhanced market access. Ghanaian Chronicle / http://allafrica.com

Ghana: Japan Grants Ghana ¢117 Billion to Boost SMEs

The Japanese government has increased its Non-Project Grant Aid assistance to Ghana to the tune of 1.4 billion Yen, approximately 117billion cedis to boost productivity and quality of products of Small and Medium-scale Enterprises (SMEs). Ghanaian Chronicle / http://allafrica.com

Liberia: BET Founder Invests $30 Million in Local Entrepreneurs

The Executive Mansion has disclosed that the founder of the Black Entertainment Television in America, Mr. Robert Johnson, has announced a US$ 30 million investment to support Liberian entrepreneurship. The Analyst / http://allafrica.com

Bread Scarce in Zimbabwe as Mugabe Holds Party

President Robert G. Mugabe turned 83 as bakeries shut down, saying government price controls were requiring them to sell loaves at a loss. The New York Times

Steel giant targets Senegal mine

Arcelor Mittal announces it is to invest $2.2bn in developing an iron ore mining project in Senegal. bbc.co.uk

Financial Services for the Unbanked: Vodafone
Following a successful pilot program in Kenya, Vodafone is rolling out a service that allows customers to access cash via their mobile phones. Called M-PESA, the service allows customers to borrow, transfer and make payments using a mobile phone, transforming financial services by making transactions cheaper, faster and more secure. wbcsd.org

Anglo American profits grow 46%

Mining giant Anglo American is to return $3bn to shareholders after reporting a 46% rise in annual profits. bbc.co.uk

ARV’s now ‘made in SA’

A South African pharmaceutical company is set to start manufacturing antiretroviral drugs (ARVs) for treating Aids patients with immediate effect. iafrica.com

Nedbank exceeds its BEE targets

Banking group Nedbank continues to make strides in all aspects of transformation, substantially exceeding industry black economic empowerment transaction financing targets for the second year in succession in 2006. iafrica.com

Mozambique: Country Signs Agreement With Microsoft

The Mozambican government signed in Maputo on Wednesday a partnership agreement with the multinational computer company Microsoft. Agencia de Informacao de Mocambique / http://allafrica.com