Daily Archives: August 21, 2013

Egypt's ENRA incurring losses due to halting railway services

Egypt: Egyptian National Railway Authority (ENRA) has said it is losing EGP5m daily, due to the disruptions of service, with EGP30m losses recorded in the last six days, Daily News Egypt has reported. Last Wednesday, ENRA stopped all trains, causing substantial losses to the transportation service, said ENRA deputy head of financial affairs, Talaat Kassab. “Egypt’s train movements were completely halted between Cairo, Upper Egypt and Lower Egypt,” he said, adding that it remains unclear when the trains will resume normal operation. [AMEInfo.com]

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Egypt's Asec reports wider net losses in H1 2013

Egypt: Egyptian miner, Asec, has posted EGP17.8m ($2.5m) in net losses in the first six months of 2013, compared with net losses of EGP15.2m ($2.1m) in the same period last year, Ahram has reported. Pre-tax financial results of the first six months of 2013 recorded losses of EGP13.8m ($1.9m), 12% down from losses in the same period in 2012. “We have shouldered high taxes this year, worth around EGP4m (around $572,400),” a company official told the daily. Cairo-based private equity firm Citadel Capital has 39% share in Asec, which has expanded its operations in North and East Africa through a number of cement plants and developing mining operations to quarry raw materials and precious metals. [AMEInfo.com]

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For Art Dealers, a New Life on the Fair Circuit

Dealers are now traveling to art fairs from Miami to Hong Kong to Basel to São Paulo, but this globalization of the market is easier for galleries with deep pockets — smaller ones are at a disadvantage. read more

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20 Industries to receive President’s special incentive

Haruna Idrissu

One-time leader in the Ghanaian poultry industry, Darko Farms and 19 other local industries have been selected by the presidency to receive special incentive packages from the government to enable them to revive their industries and improve production.

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San Diego mayor accused of harassment reaches proposed settlement

SAN DIEGO (Reuters) – San Diego Mayor Bob Filner, who is accused of sexual harassment in a scandal that has roiled the city, has reached a proposed settlement involving the litigation filed against him, the city attorney told reporters on Wednesday. read more

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Website Editor Jimdo Launches An iOS App So Users Can Build And Edit Sites From Their Phone

Jimdo_iPhone_2

Jimdo, a Hamburg-headquartered company offering easy-to-use tools for building websites, already seems pretty mobile friendly. Jimdo-powered sites can also be viewed in mobile-optimized layouts, and earlier this year the company announced a “mobile express” format, where businesses create a landing page that highlights their most important information. read more

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Antrak resumes full operations to Tamale

Antrak's new aircraft

Antrak Airline has resumed full operations on the Tamale-Accra route after a fire incident on one of its aircraft disrupted operations on that route.

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Upbeat China August flash HSBC PMI points to stabilizing growth

BEIJING (Reuters) – Activity in China’s vast manufacturing sector hit a four-month high in August as new orders rebounded, a preliminary private survey showed on Thursday, reinforcing signs of stabilization in the world’s second-largest economy. read more

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Soy Milk Fades as Americans Opt for Drinkable Almonds

WhiteWave Foods, the maker of Silk, is suddenly selling more almond milk than soy because consumer preferences have shifted

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Susu collectors train board members

Library Photo

The Ghana Co-operative Susu Collectors (GCSCA) has trained its board members on corporate governance to equip them with hands-on administrative skills for the running of the association.

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Asia shares, currencies find hope in China pickup

SYDNEY (Reuters) – Asian markets were thrown a lifeline on Thursday when surprisingly strong data on China’s huge manufacturing sector helped offset rising U.S. bond yields, lifting currencies and shares from deep early lows. read more

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The Return of Carry?

• NZ dollar interest rate differentials have surged, raising the risk of a return of the ‘carry trade’. read more

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Syria gas 'kills hundreds,' Security Council meets

BEIRUT/AMMAN (Reuters) – Syria’s opposition accused government forces of gassing hundreds of people on Wednesday by firing rockets that released deadly fumes over rebel-held Damascus suburbs, killing men, women and children as they slept. read more

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Neotel uncapped LTE launched

Announced the pricing of its fixed wireless, uncapped, unshaped LTE service.

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