Weekly news

02/03/2011 to 08/03/2011


BRICs reach out to S. Africa -The Hindu (IND)
Brazil, Russia, India and China (BRICs) have decided to appoint South Africa as an observer in their next annual summit to be held in April. The path has, therefore, been cleared for the inclusion of S Africa as a member of the grouping.Is Africa on the runway to economic takeoff? -The Standard (KEN)
Africa and China are today the best of sweethearts. But the affection is merely platonic and based on self-serving interests, for Africa and China are world’s apart. Whereas China sees in Africa a continent full of resources that can fuel its booming industries and ready markets for its products, Africa sees in China billions of money that can be tapped for investment without the hustles of conditionalities.

Doubt Cast on $5 Billion China-Sasol Deal -Wall Street Journal (USA)
Beijing appears to be stalling a $5 billion-plus deal with a South African petrochemicals company that would tap China’s vast coal reserves to make synthetic fuels, while at the same time securing ways to acquire such technology domestically.

Sinopec buys less W.Africa crude, may shift to Mideast-sources -Reuters
Asia’s largest oil refiner China Petroleum & Chemical Corp (Sinopec) is cutting purchases of West African crude because of the high Brent/Dubai spread and is likely to buy more from the Middle East, trading sources said on Wednesday.

Shell JV sponsors Nigeria-China business summit -The Nation (NGA)
Shell Petroleum Development Company (SPDC) operated Joint Venture said it sponsored the Nigeria-China business summit held in Abuja where over 160 Nigerian and Chinese companies met last month to explore business opportunities in the oil and gas industry.

The Human Side of China’s “Economic Invasion” of Africa -China in Africa: The Real Story
If you overlook the title, “China’s Economic Invasion of Africa,” you’ll enjoy a well-done and interesting story by Xan Rice in The Guardian’s Sunday, February 6, 2011 issue.

Chinese in £750m bid for African uranium -The Telegraph (GBR)
A Chinese state-owned nuclear power producer has made a £756m approach for Kalahari Minerals, as the world’s second largest economy searches for new sources of uranium.

China’s bid on Kalahari may spur counter offer -Business Day (ZAF)
Rio Tinto seen as potential suitor due to Namibian mine proximity as China Guangdong Nuclear Power Holding Company makes formal offer

TIM COHEN: Alternatives to dollar are emerging -Business Day (ZAF)
IN A recent blog, the longtime guru and champion of emerging markets, Mark Mobius, made two bold predictions, not about the developing world, but about currencies.

Trade between China and Portuguese-speaking countries rises 45.07 pct in January -Club of Mozambique (MOZ)
Trade between China and the Portuguese-speaking countries rose 45.07 percent in January against the same month of 2010 to US$8.31 billion, according to figures from China’s Customs Department published in Macau.

Ethiopian to start new flights to Hangzhou -Walta Info (ETH)
The Ethiopian Airlines today unveiled its plan to commence new flights to Hangzhou, one of the most renowned and prosperous cities in China effective May 1, 2011.

Former Lusaka Mayor awarded a K4.7 billion tender to his young brother -Lusaka Times (ZMB)
Lusaka City Council last year awarded a tender worth K4.7 billion for the construction of Kulima Tower bus station to the younger brother of immediate past Lusaka Mayor Robert Chikwelete. China Jiangsu bid for K4,792,070,200 and Chimwenda lost because of the high bid of K5,177,493,029 but was later awarded the tender and is almost finishing the construction of the bus station.

China lends Angola $15 bn but creates few jobs -AFP (USA)
China has extended almost $15 billion in credit to Angola since the African oil giant’s civil war, but has struggled to hire trained locals for reconstruction projects, Beijing’s ambassador told AFP.

China provides almost US$15 billion in loans to Angola since 2002 -Club of Mozambique (MOZ)
China has provided Angola with almost US$15 billion in loans since 2002, but has had difficulties hiring local staff for reconstruction projects, the Chinese ambassador to Angola said.

China gives environmental nod to Sasol CTL project -Engineering News (ZAF)
China granted initial environmental approval to an $8,8-billion project by South African petrochemical firm Sasol and China’s top coal producer Shenhua Group to turn coal into fuels.

China-Africa relations remain sound despite African unrests: FM -Xinhua (CHN)
China-Africa relations remain sound despite the recent turmoil in North Africa, Chinese Foreign Minister Yang Jiechi said at press conference here Monday.

NDC-China Statement On 6th March Independence Anniversary -Ghana Web (GHN)
On the occasion of the 54th Anniversary of the Independence of Ghana, the leadership and the entire membership of National Democratic Congress (NDC) in the People’s Republic of China wish to extend our warmest thoughts and felicitations to all Ghanaians in our beloved Country and in the Diaspora.

China gives Africa hope -The Citizen (TZN)
Africa has a significant proportion of the world’s developing countries that are in need of appropriate policies and strategies aimed at stimulating sustainable economic growth and development  and reducing poverty.

New economic order is here -Personal Finance (ZAF)
A new normal prevails, because the global economy has changed in a way that will see emerging markets continue to out-perform developed markets over the longer term, Kevin Lings says.

Aliu Mahama fumes over award of contracts to Chinese firms -Ghana Web (GHN)
Former Vice President Alhaji Aliu Mahama has called on government to change its way of awarding huge projects to Chinese construction firms who are increasingly taking over Ghana’s construction industry.

Chinese solar power producers dominate Africa energy conference in sign of commercial muscle -The Canadian (CAN)
In a show of commercial muscle that highlights China’s growing investment in Africa, Chinese solar power producers dominated exhibits Thursday at an energy conference on a continent where nearly two-thirds of the population lives off the electric grid.

China’s future in Africa, after Libya -Finacial Times (GBR)
The future of Chinese companies in Africa may be under review, given the way that recent events in Libya have played out. China had a large presence there: more than 30,000 Chinese workers were living and working in Libya before the unrest broke out, according to Chinese officials.

China and Libya: What’s the Real Story? -China in Africa: The Real Story
In recent days, the unrest in Libya and attacks on the many Chinese projects there, have raised questions about the impact this will have on China’s quest for natural resources in unstable states. I think this focus is surprisingly off-track.

China to lead new investment wave in Africa -Mining Weekly (ZAF)
As the effects of the global economic crisis dis- sipate and investor confidence becomes more buoyant, investment into the mining and metals sector is expected to increase significantly.

Standard to concentrate on Africa -Business Day (ZAF)
Decision prompted by tight market and influence of Chinese shareholder.

Libya exposes risks of China’s ventures -Business Report (ZAF)
Tens of thousands of Chinese workers are scrambling to escape the chaos in Libya, highlighting the risks by Chinese businesses in unstable African countries in search of oil, gas and other resources.

China solar producers woo African business -News 24 (ZAF)
In a show of commercial muscle that highlights China’s growing investment in Africa, Chinese solar power producers dominated exhibits on Thursday at an energy conference on a continent where nearly two-thirds of the population lives off the electric grid.

China helps build state intelligence complex for Mugabe -SW Radio Africa (ZWE)
Construction of the government’s secret electronic eavesdropping complex just outside Harare is moving at a ‘very fast pace’ SW Radio Africa learned on Thursday.

Chinese newspaper demands action against Chinese companies violating African labour rights -Exporting China’s Development to the World
The 21st Century Economic Herald 21, a newspaper of the Southern Group, published an article by Guo Kai on 21 February, entitled The Zambian incident: Reasonable constraints for Chinese businessmen overseas engaging in “behaviour alienating labour from capital”.

Chinese tannery in Ethiopia set to commence production -Walta info (ETH)
Friendship Tannery, a new leather processing factory established by Chinese investors in Ethiopia with soaking capacity of 15,000 animal skins and hides per day, is set to start production next month.

US keeps tabs on Chinese advances -The Standard (KEN)
In one cable US Ambassador to Kenya Michael Ranneberger admits that Chinese information and communications technology (ICT) vendors are more competitive in pricing and quality, and therefore often win Government procurement tenders.

Chinese firm to produce 600 MW from Singida wind farms -IPP Media (TZN)
A Chinese firm Dalian International Economic and Technical Cooperation Group (CDIG) has expressed its interest in implementing the Singida wind farm project.

China Nonferrous Metals install and commission floatation circuit at Luanshya -Xinhua (CHN)
China nonferrous Metals Africa Corporation installed and commissioned USD 100,000 floatation circuit at its concentrator plant at Luanshya Copper Mine in Zambia to promote efficiency in metal production and make the mine environmental friendly as the company seeks to boost production of the metal.

The Middle Kingdom comes to the Dark Continent -The Independent (GBR)
Twenty five years ago, after travelling for two weeks on business across Africa, I finally arrived in Kenya longing for some rice or noodles. On the way to the hotel I was surprised to see a Chinese restaurant in the middle of nowhere.

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