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Pick n Pay first-half earnings rise 9.5%
October 22, 2019

JOHANNESBURG - South African supermarket retailer Pick n Pay Stores Ltd posted a 9.5% rise in first-half earnings on Tuesday, with strong growth in its core domestic operations outweighing challenges in Zambia and Zimbabwe.

Pick n Pay, which also sells clothes, said comparable headline earnings per share (HEPS) for the 26 weeks ended Sept. 1 rose to 85.03 cents from a restated 77.67 cents a year earlier.

Reported HEPS, which includes the impact of hyperinflation accounting in Zimbabwe, rose 17.5%.

“At the core of our result is a very strong performance from our South Africa division,” group Chief Executive Richard Brasher said in a statement.

“In this environment,"...

October 22, 2019

London — Algeria's state-owned Sonatrach has made the case for the country's new draft hydrocarbon law, saying the need for reform was 'urgent' given the state of the country's reserves and exploration activity.

Algeria's"...

October 21, 2019

The Office of the National People’s Assembly, (APN) on Sunday, submitted a request to the committee charged with studying the draft hydrocarbons law urging it to open a free-wheeling parliamentary debate and take the opinion of experts and specialists, and to listen to the presentation of the Minister of Energy"...


October 22, 2019

(TAP) – 1.7 million Tunisian tourists have visited Algeria in 2019, the Algerian press agency 'APS' quoted Algerian Minister of Tourism and Handicrafts Abdelkader Benmessaoud as saying on Monday in Oran.

“1.7 million Tunisian tourists have flocked to Algeria this year to visit the country’s different"...

October 22, 2019

Equitel has recorded a 16 percent growth in the number of mobile money commerce transactions, according to the latest data from the Communications Authority (CA).

The MVNO saw its mobile money commerce transactions increase to 101 million as at the end of June 2019, up from 87 million in the same period last year.

At the same"...

October 22, 2019

The Export-Import Bank of the United States (EXIM) has entered into a memorandum of understanding (MOU) with the Ministry of Economy, Planning and Cooperation of the Republic of Senegal to enhance economic cooperation between the two countries with respect to the trade of goods and services.

The MOU signing took place during the week of the 2019 annual meetings of the International Monetary Fund (IMF)"...

October 22, 2019

ASCM (the Association for Supply Chain Management) has announced it has received a grant from the Global Fund to Fight AIDS, Tuberculosis and Malaria.

The grant will be used to develop a long-term transformational learning program which will support the fund’s supply chain organizational strength-building activities in Africa, starting in Nigeria.

The"...

October 21, 2019

HAMBURG, Oct 21 (Reuters) - Algeria’s state grains agency OAIC has issued an international tender to buy milling wheat to be sourced from optional origins, European traders said on Monday.

The tender sought a nominal 50,000 tonnes, but Algeria often buys considerably more in its tenders than the nominal volume sought.

The"...

October 21, 2019

Reuters) - Algeria's expenditure on imports of cereals, semolina and flour dropped 14.42% in the first eight months of 2019 from the same period a year ago, official data showed on Saturday.

Algeria, one of the world's largest grain importers, has been trying to reduce spending on food imports following a fall in energy earnings, the main source of state finances.

Durum"...