Economy

SA expects to renew Total's offshore exploration right

South Africa is expected to renew Total's offshore exploration rights next year, the chief executive of the state petroleum agency said on Friday.

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Algerian farmers struggle to export famed fig

: For Berber families in the northern Algerian town of Beni Maouche, fig and olive trees have been a source of income for generations.

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Oil rises on tighter fundamentals, but China warning holds back market

Oil prices rose on Friday, supported by signs of tightening supply and demand fundamentals, although a warning about excessive China economic optimism still weighed somewhat on markets.

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Barrick Gold, Tanzania reach agreement

Barrick Gold has agreed that Tanzania will own a 16% stake in three gold mines operated by Barrick’s Acacia Mining Plc, the company and a government minister announced on Thursday.

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IMF Mozambique aid resumption unlikely next year

The International Monetary Fund (IMF) is not in discussion with Mozambique over a new aid programme for next year as the southern African nation was yet to explain gaps on how $2 billion in previously hidden loans was spent, a fund official says.

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Mango pilot strike ends after wage deal

Pilots at South Africa's Mango, a low-cost airline owned by state-run national carrier South African Airways, on Friday reported for work ending a four-day strike, the union representing most of the pilots said.

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Nissan's inappropriate inspections started 20 years ago

Nissan said late on Thursday it was suspending domestic production of vehicles for the Japanese market for at least two weeks to address misconduct in its final inspection procedures, which it first revealed last month.

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Volvo lifts market outlook as profit beats forecasts

Sweden's AB Volvo reported a bigger-than-expected rise in quarterly core earnings on Friday as stronger demand for heavy trucks more than offset costs stemming from strains on its supply chain.

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Nestle accelerates restructuring program

Swiss food giant Nestle expects organic sales growth to stay muted in the fourth quarter and is speeding up its restructuring program as it seeks to improve profit margins.

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SA remains committed to shale gas exploration

South Africa remains committed to shale gas exploration and was studying a court order revoking fracking regulations as it pushes to award the first exploration licenses by 2019, the mineral resources minister said on Thursday.

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