As per economic expert Henning Melber, the crisis is a result of external factors that were made worse by internal mismanagement of the economy
MTN, which returned to profit in the first half of its financial year in the absence of one-off charges related to a $1.1 billion Nigerian fine, said the assignment of the loan to IHS will lead to a loss of 2.8 billion rand ($228 million) on transfer of the carrying value of the loan.
Addressing the India-Ethiopia Business Dialogue, organised to commemorate the 12th Anniversary of the India Business Forum here yesterday, the president said Ethiopia and India have been trading with each other for centuries.
Sharma made the remarks while speaking at an event held by the University of Johannesburg's African Diplomacy and Foreign Policy department on the topic 'Africa and Asia in the Emerging World'.
Director of Luxmi Tea Rudra Chatterjee told PTI that a 100 per cent subsidiary had been formed, Rugabeno Tea Company, to undertake the plantation activity in Rwanda on an area of 4438 hectares of land.
Highlighting India's multi-layered development partnership with Africa, he said the country has been helping Africa build capacity as well as improve infrastructure.
The telecom major registered a sharp 72 percent decline in consolidated net profit at Rs 373.4 crore for the fourth quarter ended March 2017.
The company will inaugurate new assembly facilities in Kenya and Ivory Coast to begin with while doubling capacity at the Ras Al Khaimah plant, all of which will happen this financial year.
Namaste posted a net profit of Rs. 8.39 crores on operating revenues of Rs. 558.12 crores in 2015-16. The Ghaziabad-based company derives 32% of its turnover from its international business. Dabur’s consolidated net sales in the last financial year came at Rs. 8,435.95 crores.
There was a "good increase in trade but opportunities do exist. The newer sectors in which we can have greater interaction, engagement and productive relationship are renewable energy, pharmaceuticals and healthcare," the Commerce and Industry Minister said.
"Zee will be making further inroads into the vast continent of Africa with our entry into the French-speaking country of Mali," ZEEL International Broadcast Business CEO Amit Goenka said in a statement.
The imperatives that drive Africa-India engagement are based on "shared challenges, common interests, and perceptions of mutual benefit" and come from "our complementary strengths and capacities that make us natural economic and commercial partners," Ansari said.
The Vice President was addressing a gathering of business leaders and experts from both the countries at a business forum hosted at the Convention Centre.
Interacting with reporters en route to Kigali to begin his five-day tour to Rwanda and Uganda, Ansari said, "We are not in competition with China or anyone else, as far as our development cooperation with foreign countries is concerned, particularly in Africa. They have their own style of work, own capacities."
"Zee Entertainment today announced the launch of two new channels, Zee Bollymovies and Zee Bollynova, which will broadcast on Africa's new pay-TV network Kwes TV," Zee Enterprises Ltd (ZEEL) said in a statement.
The company's joint venture, Om Metals-SPML, has secured a letter of intent (LOI) from Office of Director General, Rwanda Agriculture Board for the work related to development of irrigation and watershed development in Mpanga Sector.
Twenty-two companies, including Pfizer, Merck, Novartis, Roche, Sanofi and GlaxoSmithKline, will contribute funds and expertise to the project, which is backed by the World Bank.
Matt Damon and Gary White, co-founders of Water.org spoke in detail to CNBC-TV18 about their various projects, innovative ideas like WaterCredit, WaterEquity to help solve the water crisis.
Innovative financing models were necessary since some projects under the Belt and Road Initiative require large investments with long payback periods, He said.
Tata Motors and Castrol today inked a three-year agreement under which the lubricants maker would supply commercial vehicle oils to the home grown auto major in over 50 markets including SAARC and ASEAN region, Middle East, Africa, Russia and Latin America.
In an interview with CNBC-TV18 Nikhil Nanda said that the company is at an inflection point and sees rapid growth in the coming years.
Telecom operator Bharti Airtel today announced top level changes for its African operations by promoting Chief Operating Officer Raghunath Mandava as Managing Director and CEO of Airtel Africa.
Citi says in the week of 11/23/2016, bond funds continued to see a large outflow of USD 8.6 billion while equity funds had an inflow of USD 5.2 million. India continued to see USD 837 million of FII outflow.
SVA deals in content monetisation and provisioning of IT and software services. The company was incorporated in June this year.