July 18, 2009

South Africa's MTN is in talks with a group of lenders to secure a $3.5 billion syndicated loan to back its proposed merger with India's Bharti Airtel, banking sources close to the deal said. The two telecom companies are in exclusive…

Ghanaian businesses are in for tougher uphill challenges, as interest rates are likely to go up soon. The Ghana government was elated and most Ghanaians were happy when the International Monetary Fund (IMF), gave Ghana a $1 billion loan to…

OPEC president Angola said on Friday there is still too much oil stored in the market and that the recent volatility in oil prices does not satisfy the group. Jose Botelho de Vasconcelos, who is also Angola's oil minister, said compliance…

A 12-member re-constituted national taskforce to monitor activities of foreign traders in the northern sector of the country was on Friday inaugurated in Kumasi. The taskforce is to ensure that the country's investment regulations were…

A political refugee from Ghana was sentenced to three years in prison Friday for molesting a 3-year-old girl in a house in Lake Forest. Baaki Yakubu, 21, pleaded guilty to aggravated criminal sexual abuse on June 5. He faced a maximum…

The World Bank approved a $76 million loan for Mozambique on Friday to help improve the health sector and for infrastructure and communications development, a bank official said. The World Bank interim representative in Mozambique, Luiz…

The bid deadline for private equity-backed Kosmos Energy's Ghanaian oil interests has been extended from Friday and another date will be announced within the next 30 days, two sources familiar with the matter said. A potential sale of the…

Asian stocks rose this week, giving the MSCI Asia Pacific Index its biggest advance since May, amid renewed confidence the global economy is recovering. CapitaLand Ltd., Singapore’s biggest developer, climbed 10 percent as Singapore…

Web video site YouTube will be profitable for Google Inc in the near future, the Internet search leader said on Thursday. Google acquired YouTube for $1.65 billion in 2006, but has lost money on the site that lets people post and share…

A Massachusetts teenager who spent three nights alone on Mount Washington in April after he sprained an ankle and veered off marked trails has been fined more than $25,000 for the cost of his rescue. Scott Mason had been praised for…