Economy

Hackers exploited Word flaw for months while Microsoft investigated

To understand why it is so difficult to defend computers from even moderately capable hackers, consider the case of the security flaw officially known as CVE-2017-0199.

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Kia Motors announces $1 billion investment in India

South Korean car maker Kia Motors said Thursday it will build a new $1.1 billion plant in India, marking its entry into one of the world's fastest growing markets as sales in neighbouring China have sagged.

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Kenya's TPS Eastern Africa swings into profit in 2016

Kenya's TPS Eastern Africa said on Thursday it had swung into a pretax profit of 325.3 million Shillings ($3.15 million) in 2016 from a loss of 211 million Shillings the year before, helped by higher revenues and a jump in its core profit.

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SA ratifies Citi's FX rigging settlement

South Africa's Competition Tribunal on Wednesday confirmed a R69.5 million ($5.25 million) settlement with Citibank for its role in rigging Rand currency trading, making the US bank the first among more than dozen banks named in a probe.

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Libya's Sharara oilfield restarts after pipeline protests end

Libya's Sharara oilfield, with a production capacity of around 330 000 barrels per day, is back online after protests blocking pipelines there ended, a Libyan oil source said on Thursday.

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LG Electronics Q1 net profit more than quadruples

South Korean appliance giant LG Electronics saw net profits more than quadruple in the first quarter of the year, it said Thursday, on the back of strong sales in Asia and Latin America.

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Nokia reports another loss as networks sag

Finland's telecoms giant Nokia reported Thursday that it remained deep in the red at the start of the year, with sales in its main business, networks, on the decline.

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Ghana 2016 GDP growth slows

Ghana's gross domestic product growth in 2016 GDP stood at a provisional figure of 3.5 percent year-on-year, down from 3.9% in 2015, acting government statistician Baah Wadieh told a news conference on Wednesday.

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Nigeria Naira's new investors rate eases

The value of Nigeria's latest Naira exchange rate, set specifically for portfolio investors, eased for a second straight day on Wednesday even as the central bank stepped up Dollar sales on the spot and forward markets.

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Nigeria seeks approval to borrow from China, World Bank

Nigerian President Muhammadu Buhari is seeking parliament's approval for a proposal to borrow $5.85 billion from China to modernise its rail network and another $1.075 billion from the World Bank to help rebuild the insurgency-torn northeast.

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