A study conducted for the ruling African National Congress (ANC) has rejected calls to nationalise South Africa’s mines and instead backed higher taxes and royalties, Business Day reported on Thursday. The ANC’s outspoken Youth League has called for nationalising mines to curb poverty in one of the world’s most inequal societies. The study was commissioned [...]

Iran has agreed to be paid 45 per cent of revenue from its Indian oil exports in rupees, to be deposited with an Indian bank beyond the reach of new US and European sanctions, a report said on Thursday. The two countries have chosen UCO Bank, headquartered in the eastern city of Kolkata, for the [...]

Manufacturing activity across Asia showed signs of improvement in January, according to data on Wednesday, but the pace remained sluggish as turmoil in Europe and the US hurt demand for exports. Asian factories have been hit hard by weakness in developed economies as consumers slash their spending due to rising unemployment and an increasingly grim [...]

A Nigerian oil workers union has launched a strike over a dispute with Shell, sparking fears of petrol shortages and causing long lines at stations on Wednesday in Africa’s largest crude producer. NUPENG the National Union of Petroleum and Natural Gas Workers is the smaller of Nigeria’s two oil industry unions and represents blue-collar workers, [...]