South Sudan News
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East African Breweries Ltd., Kenya’s best-performing stock over the past month, is poised to end a 29 percent rally that valued the nation’s biggest company at double that of the benchmark index, according to Contrarian Investing Kenya Ltd. and technical indicators.
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West Texas Intermediate crude rose on speculation that central banks will bolster stimulus after more Americans than projected filed for unemployment benefits and U.S. consumer prices decreased.
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National Bank of Kenya Ltd. will raise as much as 10 billion shillings ($119 million) in a rights offer to fund an expansion plan as it seeks to quadruple revenue by 2017, Managing Director Munir Sheikh Ahmed said.
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Djibouti is in talks with India, China, Brazil, Russia and Arab investors to finance infrastructure projects worth $5.9 billion, the head of the country’s ports authority said.
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Equity Bank Ltd., Kenya’s second- biggest lender by market value, said profit in the first three months of the year climbed 22 percent as lending increased while interest rates fell across East Africa.
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ERHC Energy Inc., an independent oil and gas explorer in Africa, said it has signed a letter of intent to sell part of its interest in an exploration block in Kenya.
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South Sudan’s Cabinet approved the establishment of a $200 million mortgage lender through a public-private partnership to help address a shortage of homes, Housing Minister Jemma Nunu Kumba said.
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South Sudan quadrupled revenue collection as austerity measures introduced after the government shut down oil production forced the state to find alternative sources of income, Deputy Finance Minister Marial Awou Yol said.
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Ethiopia is negotiating with Brazil, Russia and India to finance and build rail links after agreeing terms last year with Chinese and Turkish companies for other routes, the head of the state rail company said.
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A gold mine collapse in Sudan’s western region of Darfur killed at least 60 people and left potentially dozens more trapped in a shaft 40 meters (130 feet) deep, a local commissioner said.
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