Africa

Financial News

South African Stocks Decline, Led by BHP Billiton and Tiger Brands Shares South Africa's FTSE/JSE Africa All Share Index dropped for a third day, losing 174.3, o4r 0.9 percent, to 18,572.81 as of 10:19 a.m. in Johannesburg.

Gold Falls for Second Day as Slow Economy Damps Inflation; Platinum Gains Gold fell for the second straight day on speculation that the slumping global economy will reduce demand for commodities, eroding the appeal of the precious metal as a hedge against inflation. Platinum gained.

South African Two-Year Government Notes Advance for Fourth Consecutive Day South African government notes advanced for a fourth consecutive day.

Platinum Jewelry Demand Will Climb in Asia Next Year, Johnson Matthey Says Platinum demand for jewelry in China and Japan, the two largest consumers, will probably rise next year regardless of a global recession after prices fell from a record and as metal recycling declines, Johnson Matthey Plc said.

Sentula Mining Plans to Raise as Much as $24 Million to Expand Coal Mine Sentula Mining Ltd., a South African coal producer and contract miner, is looking to raise 150 million rand to 250 million rand ($24 million) from local banks in about five months for an expansion of its Koornfontein mine.

Crude Oil Declines for a Fourth Day on Forecast U.S. Stockpiles Increased Crude oil fell for a fourth day, dropping below $54 to its lowest in 22 months, on expectations U.S. inventories gained last week as fuel demand in the world’s largest user declined.

Cameroon Cotton Industry Seeks Higher Government Subsidies to Boost Output Cameroon cotton farmers need at least 8 billion CFA francs ($15.4 million) from the government to boost production, after output fell by two-thirds, the Cameroon Cotton Producers' Organization said.

Malawi's Annual Inflation Rate Increased to 9.4% in October on Food Prices Malawi's annual inflation rate increased to 9.4 percent in October, the fifth consecutive rise, as food prices climbed, the National Statistics Office said.

General News

Pirates Demand Ransom for Saudi Supertanker; Three More Ships Are Seized Pirates demanded a ransom for an oil- laden Saudi supertanker amid reports three other merchant vessels have been hijacked in one of the worst spates of attacks in the Gulf of Aden and off the East African coast.

Former Comverse CEO Alexander Wins Delay of Extradition Hearing to March 4 Former Comverse Technology Inc. Chief Executive Officer Jacob `Kobi' Alexander, who is wanted in the U.S. for alleged securities fraud, won a Namibian court bid to postpone an extradition hearing until March 4.

Bill Clinton, `Rock Stars' of Fine Coffee Help Transform Rwanda's Economy As Christy Thorns, the coffee buyer for Allegro Coffee Co., which supplies Whole Foods Market Inc., sniffed, slurped and spit her way through 24 Rwandan coffees on her evaluating table, she discovered a taste she wasn't used to from that country.

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