Friday, November 22

Tag: Africa

Switzerland Charges Trafigura and a Former Top Executive With Bribery
7Dec By adminNo Comments
Money

Switzerland Charges Trafigura and a Former Top Executive With Bribery

Updated Dec. 6, 2023 3:29 pm ETSwiss prosecutors charged a former top executive at Trafigura with facilitating payment of millions of dollars’ worth of bribes to land the energy trader preferential treatment in African oil producer Angola.Mike Wainwright helped to funnel part of the payments to an Angolan official, Swiss prosecutors said in an indictment at the Federal Criminal Court on Wednesday. These included more than 4.3 million euros, equivalent to $4.6 million, to a bank account in Geneva between 2009 and 2011, and $604,000 in cash payments in Angola. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Switzerland Charges Trafigura and a Former Top Executive With Bribery
6Dec By adminNo Comments
World

Switzerland Charges Trafigura and a Former Top Executive With Bribery

Updated Dec. 6, 2023 1:21 pm ETSwiss prosecutors charged a former top executive at Trafigura with facilitating payment of millions of dollars’ worth of bribes to land the energy trader preferential treatment in African oil producer Angola.Mike Wainwright allegedly helped to funnel the payments to an Angolan official, including some of more than 4.3 million euros, equivalent to $4.6 million, to a bank account in Geneva between 2009 and 2011, the Office of the Attorney General of Switzerland said when it announced the criminal charges on Wednesday. He also approved transactions that led to over $604,000 in cash payments in Angola, prosecutors said in an indictment at the Federal Criminal Court.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb...
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Rio Tinto Estimates $6.2 Billion Spend on Simandou Project
5Dec By adminNo Comments
World

Rio Tinto Estimates $6.2 Billion Spend on Simandou Project

Rio Tinto said Wednesday it expects to spend roughly $6.2 billion to develop its share of the Simandou iron ore project in Guinea.The iron ore buried in Guinea’s Simandou mountains is among the world’s largest untapped deposits of the commodity.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Billions in U.S. Funding Hasn’t Convinced Developing World to Ditch Coal
3Dec By adminNo Comments
World

Billions in U.S. Funding Hasn’t Convinced Developing World to Ditch Coal

Updated Dec. 3, 2023 12:04 am ETJOHANNESBURG—Wealthy nations are sending tens of billions of dollars to poorer ones for clean energy, the linchpin of a global strategy to cut greenhouse-gas emissions in the developing world.But two of the most ambitious efforts yet—in South Africa and Indonesia—are now at risk of unraveling, sowing doubts about the rich world’s ability to push developing countries away from coal and other fossil fuels.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Impala Platinum Says 11 People Died in Shaft Incident
28Nov By adminNo Comments
World

Impala Platinum Says 11 People Died in Shaft Incident

Impala Platinum Holdings said 11 employees died in a shaft incident at its Rustenburg operations in South Africa, with 75 hospitalized, in the worst mining accident for a South African company in 14 years.The precious-metals mining company said Tuesday that the rescue operation is complete and all 86 employees are accounted for.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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LG Electronics Unveils Restructuring to Boost Global Competitiveness
24Nov By adminNo Comments
World

LG Electronics Unveils Restructuring to Boost Global Competitiveness

Nov. 24, 2023 12:42 am ETLG Electronics will set up a new sales and marketing entity to oversee international business, part of a series of restructuring moves aimed at boosting the South Korean consumer-electronics maker’s competitiveness and growth.The Seoul-based company said Friday that its newly established overseas sales and marketing company will manage sales subsidiaries in North America, Europe, the Middle East and Africa, Latin America and Asia, as well as oversee global marketing and direct-to-consumer sales, in efforts to boost executive capabilities.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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When Israel’s Great Nemesis Accepted Peace
22Nov By adminNo Comments
World

When Israel’s Great Nemesis Accepted Peace

With Israeli and Palestinian forces likely to resume hostilities after the four-day pause starting Thursday, the prospects for a more lasting peace in the Middle East remain dim. Israel’s Prime Minister Benjamin Netanyahu has vowed to utterly defeat Hamas, the Palestinian militant group that governs the coastal enclave and stunned the world with its killing spree on Oct. 7. For their part, Hamas officials have said they will conduct similar attacks again, as many times as is necessary to achieve the complete destruction of Israel.It is tempting to conclude that, after this, Israelis and Palestinians simply will never be able to agree on a political settlement capable of bringing an end to more than a century of conflict. Yet history is replete with examples of apparently implacable enemie...
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MMG Plans to Buy Copper Mine in Africa for $1.88 Billion
21Nov By adminNo Comments
World

MMG Plans to Buy Copper Mine in Africa for $1.88 Billion

Mining company MMG has agreed to buy a copper mine in Africa for an enterprise value of nearly $1.88 billion as part of an effort by the Chinese government-backed company to expand its portfolio.MMG, which is nearly 68%-owned by state-owned China Minmetals, plans to buy the Khoemacau mine in northwest Botswana in the emerging Kalahari Copper Belt, the Hong Kong-listed company said Tuesday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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‘We Are Your Soldiers’ Review: An Early Leader of Arab Agitation
15Nov By adminNo Comments
World

‘We Are Your Soldiers’ Review: An Early Leader of Arab Agitation

Egypt’s schoolchildren in the 1960s were taught a song in praise of the man who’d appointed himself their president in 1954, at age 36—uncommonly young for a nonroyal to lead an Arab nation. “I heard Dad say to Mom,” went the ditty, “it’s all thanks to Father Gamal.”The object of this veneration was Gamal Abdel Nasser, the Egyptian strongman who came to be the most popular ruler in modern Arab history. The thanks being belted out in classroom choruses were not for any material bounty—of which there was little in an impoverished land—but for Egypt’s pre-eminence in the Arab world. Until his death of a heart attack in 1970, Nasser waged a relentless crusade for pan-Arabism—the idea that all Arabs were one people, with Egypt as their natural leader, and that the boundaries between Arab state...
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