Talks to merge the world’s largest gold mining companies, Barrick Gold Corp. and Newmont Mining Corp., broke down April 18 amid minor disagreements that leave open the possibility that a deal could be revived, two people with knowledge of the matter said.
East African tea producers lobbied their governments to scrap value-added tax on domestic sales to help stimulate prices through increased consumption after higher output pushed auction rates to the lowest in 13 years.
The second major acquisition in Africa by Temasek Holdings Pte or one of its units in six months shows the growing interest in a continent where many countries are expanding faster then developed markets.
Tanzania will ease controls on foreign ownership of its stocks and bonds by next year as the country seeks to attract investment to finance infrastructure projects that will cost billions of dollars, President Jakaya Kikwete said.
Kenya’s shilling weakened to its lowest level in more than six months as intervention by the East African nation’s central bank failed to stem increased demand for dollars from gasoline and manufacturing companies.
Tanzania may reconsider the proposed introduction of a super-profit tax on natural gas production after gold miners criticized a similar measure recommended three years ago, President Jakaya Kikwete said.