Tag Archives: Africa

Bank of Baroda is said to be probed in South Africa over Guptas

Bank of Baroda, which is the only lender in South Africa still offering services to companies linked to the Guptas, is seeking a court order that will allow it to close the accounts. Photo: Mint Johannesburg: India’s Bank of Baroda is being investigated by South Africa’s central bank over money held for companies controlled by the politically connected Gupta family, according ... Read More »

SICCI holds session on business opportunities in South Africa

(from left) R Ganapathi, Senior Vice President, SICCI; Ben Joubert, Deputy High Commissioner of South Africa to India and MM Murugappan, Vice Chairman, Murugappa Group and Honorary Consul of South Africa in Chennai at an interactive session on ‘Doing Business with South Africa’, in Chennai on Monday. – Bijoy Ghosh CHENNAI, SEPTEMBER 11:   To enhance business cooperation between India and ... Read More »

Africa A Top Priority For India, Says PM Narendra Modi At African Development Bank Meet

PM Narendra Modi said India was working with US and Japan to support development in Africa. GANDHINAGAR: Prime Minister Narendra Modi on Tuesday said that Africa was a top priority for his government’s foreign and economic policy and pitched for an Asia-Africa Growth Corridor with the support of Japan. PM Modi, who officially inaugurated the 52nd Annual Meetings of the ... Read More »

Fuel ‘too dirty’ for Europe sold to Africa

Swiss firms have been criticised in a report for their links to the African trade in diesel with toxin levels that are illegal in Europe. Campaign group Public Eye says retailers are exploiting weak regulatory standards. Vitol, Trafigura, Addax & Oryx and Lynx Energy have been named because they are shareholders of the fuel retailers. Trafigura and Vitol say the ... Read More »

SA still most attractive in Africa for investments – index

South Africa still ranks as the most attractive economy for investments destined for the continent despite challenges emanating from slow growth, a gloomy ratings outlook and waning perceptions, EY said in an index released Wednesday. The auditing and advisory company has also predicted a tough few years ahead for the continent. The global economy is struggling for growth amid slowing ... Read More »

Barclays confirms interest in Africa arm as profits slump by 25%

Bank’s new broom Jes Staley likely to face shareholder questions about cut to dividend amid losses on oil-related loans Barclays reported first-quarter profits of £793m and a 15% rise in bad debts. Photograph: Joe Giddens/PA Barclays has revealed it has received approaches for its African operations – which its former chief executive Bob Diamond wants to buy – as it ... Read More »

Africa, India are two bright spots of hope and opportunities in global economy: PM Narendra Modi

Prime Minister Narendra Modi on Thursday said India’s development priorities and Africa’s lofty vision for its future are aligned, adding that both sides are two bright spots of hope and opportunities in the global economy. Prime Minister Modi, who was speaking at the inaugural ceremony of the third India-Africa Forum Summit, said India is honoured to be a development partner ... Read More »