GABON - BHP freezes all mining projects
Top global miner BHP Billiton was freezing all its projects in Gabon, mining ministry officials said on Friday, dashing government hopes for sizeable investments in manganese and iron ore production. A spokesman for BHP could not immediately be reached for comment. The company holds licences in the country for the mining of manganese at Mounana and Okondja. Government officials also said BHP signed a contract a year ago for the Belinga iron ore mine. – Reuters
EGYPT - Airport to save power for state
Cairo’s international airport would close most of its runways for four hours each day from early June to save power for the Egyptian government, which is struggling to pay for fuel imports for power stations, the Minister of Civil Aviation, Wael al-Maadawi, said on Saturday. “One runway will be kept open to receive any flights during those hours,” the state news agency quoted the minister as saying. He said the closure should not have any impact on air traffic as there had been a dramatic reduction in flights to the airport and runways had been kept open without being used. – Reuters
MALAWI - Inflation jumps to almost 38%
Malawi’s consumer headline inflation quickened to 37.9 percent year on year in February from 35.1 percent in January, the National Statistics Office said in a statement posted on its website yesterday. The inflationary pressures came from higher maize and petrol prices, the statistics office said. – Reuters
EGYPT - Barclays plans more branches
Barclays planned to add branches in Egypt this year as Britain’s second-biggest bank by assets sought to expand in the country after rivals from France sold local units, the bank said last week. Barclays Bank Egypt would boost its branch network by 10 percent this year and was preparing to offer Islamic banking services, Omar Baig, consumer banking director at the Cairo-based lender, said in an interview. Barclays might consider acquiring another lender in the country “should the opportunity present itself”, Baig said. – Bloomberg