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Thursday, 9th April 2020
3:37:38am

Business

Articles related to business

Huge gas discovery off Mozambique

Italian oil company Eni SpA has announced the discovery of more natural gas off the coast of Mozambique, expanding the yield of a major field off the southeast African nation.

Eni said on Wednesday that the field includes at least 10 trillion cubic feet of natural gas, increasing the total yield of the area to 70 trillion cubic feet.

The company said…

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Boeing: steady growth for African market

Boeing projects the African market will require 900 new airplanes valued at $120 billion USD over the next 20 years which is 12 percent up from its 2011 forecast. It released its market projections for Africa's commercial aviation market today.

"Boeing continues to see Africa's aviation growth outpace the world average due to a growing middle…

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Tanzania asks Malawi to halt oil search

Tanzania has asked Malawi to stop oil and gas exploration activities in Lake Malawi until a border dispute between the two countries involving the lake is resolved, a Tanzanian official said on Monday.

Last October, Malawi said it had awarded oil exploration licences to UK-based Surestream Petroleum to search for oil in Lake Malawi, which is also…

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African middle class fuels aviation growth

A forecast released by Boeing shows that rising prosperity and a growing middle class in African countries mean rapid growth for the continent's aviation industry.

The forecast predicts that 14 500 pilots and 16 200 maintenance technicians would be needed in Africa over the next 20 years.

European traffic, which had a 60% share of Africa's total…

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Moz to build 3 new gas-fired power stations

Mozambique plans to build three new gas-fired power stations to generate 400 megawatts of power by 2014, said the Noticias newspaper on Wednesday.

Two plants are planned for Ressano Garcia, near the South African border, and the third in the southern town of Chokwe. Natural gas from Mozambique's onshore reserves will power the plants, the paper…

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SA central bank rate cut may hurt debt levels

The SA Reserve Bank's interest rate cut on Thursday may negatively affect debt levels, said First National Bank Home Loans strategist John Loos.

"I'm a little concerned that further rate cutting may lead to a premature end to [the] declining trend in the debt-to-disposable income ratio," Loos said in a statement.

Although the debt-to-disposable…

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