Weekly news

08/06/2009 to 14/06/2009

* Museveni: Protect tourism industry against farmers- Monitor (UGA)

Insecurity and a poor image of the African continent is a major threat to the tourism industry, President Yoweri Museveni has said. Full Story.

* Chairman of world’s biggest bank, ICBC, visits Nigeria- Vanguard (NGA)
The strategic relationship between Nigeria and China will be further strengthened as Mr. Jiang Jianqing, Chairman of Industrial and Commercial Bank of China (ICBC) Limited, visits the country. Full Story.

* African students become “double-certificate” master graduates in China- Walta Information (ETH)
The first batch of master degree candidates trained by China for Africa who have obtained intermediate vocational qualification certificates, were awarded degrees on June 15. Full Story.

* Sudan and China to focus on agriculture development- Sudan Tribune (SDN)
Economic relations between Sudan and China would focus on developing the agriculture, said the Sudanese minister of economy at the opening of the first Sudanese-Sino forum on agriculture cooperation. Full Story.

* State impounds Sh10m China drugs- Standard (KEN)
The Government has impounded two containers with medicines worth Sh10 million. Full Story.

* Standard’s China list just growing- Business Day (ZAF)
Standard Bank and its largest shareholder, the Industrial and Commercial Bank of China (ICBC), have a short list of 65 projects they are working on together — and the list was getting “longer and longer”, ICBC chairman Jiang Jianqing said yesterday. Full Story.

* Standard Bank tastes first fruits of ICBC deal- Business Report (ZAF)
Standard Bank and its biggest investor, the Industrial and Commercial Bank of China (ICBC), have already signed up 65 projects in China, and the South African bank has earned more than $10 million (R79.8m) in after-tax profit attributable to these deals. 
Full Story.

* China’s ICBC, Standard Bank to sign finance deal for Morupule expansion- Engineering News (ZAF)
The Industrial and Commercial Bank of China (ICBC) and South African-based Standard Bank would sign the agreement with the Botswana Power Corporation (BPC) next week to finance part of the $1,6-billion Morupule B power station expansion project. Full Story.

* Stanbic IBTC: Nigeria ,China strengthen ties- Vanguard (NGA)
The strategic Relationship between Nigeria and China will be further strengthened as Mr. Jiang Jianqing, Chairman of Industrial and Commercial Bank of China (ICBC) Limited, visits the country. Full Story.

* Beijing scolded over fake drugs- Business Report (ZAF)

India lodged a strong protest with China yesterday over made-in-India tags on a consignment of fake anti-malaria drugs intercepted by Nigerian authorities. Full Story.

* China, Kenya jointly develop solar products for Africa- Walta Information (ETH)
A joint research project between China and Kenya will help utilize solar energy in Africa, scientists said Wednesday. Full Story.

* China’s experience on reducing poverty opens new chapter in Sino-Africa cooperation- Walta Information (ETH)
Chinese trade officials, representatives from international organizations and African diplomats have recently gathered at a seminar here to share China’s experiences on poverty reduction. Full Story.

* Asian oil firms scramble for Addax Petroleum- Guardian (NGA)
is strong indication that the Canadian quoted oil and gas exploration and production company, Addax Petroleum, may have attracted a buyout interest from two major Asian oil energy firms – China National Offshore Oil Corporation (CNOOC) and ONGC of India.Full Story.

* China still on the hunt in Africa- News 24 (ZAF)
China will intensify its efforts to obtain resources assets in Africa after the failure of its attempt to gain a stake in Rio Tinto’s iron-ore and copper mines. Full Story.

* The grab for Africa’s farmland- China Dialogue (CHN)
Investors have been buying up fertile soil on the world’s poorest continent. Food security, not commercial gain, is behind most of the deals, a new study concludes. Full Story.

* Tunisian- Chinese trade and investment forum held in Tunis- Tunisia Online News (TNS)
A Tunisian –Chinese trade and investment forum took place on Monday in Tunis. Full Story.

* DR Congo to adapt China deal to appease IMF- Ghana Business News (GHN)
The Democratic Republic of Congo will put part of its $9-billion investment agreement with China on hold to take into account concerns voiced by the International Monetary Fund, said Moise Ekanga, who oversees the accord for Congo. Full Story.

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