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| CA-BUSINESS Summary Saturday, Apr 27, 2013 07:54 PM PDT TSX slides as mining, energy issues stumble TORONTO (Reuters) - Canada's main stock market finished lower on Friday as natural resource stocks slumped and market sentiment soured following U.S. economic growth data that fell short of expectations. U.S. gross domestic product expanded at a 2.5 percent rate, an increase from the fourth quarter's dismal 0.4 percent pace but shy of the 3 percent growth analysts were hoping for. The weaker-than-expected data in Canada's biggest trading partner weighed on Canadian stocks. ... Full Story | Top |
| Japan's ANA takes its first 787 back into the air since grounding Saturday, Apr 27, 2013 07:54 PM PDT  TOKYO (Reuters) - All Nippon Airways , the Japanese launch customer for Boeing Co's 787, flew its first Dreamliner in more than three months on Sunday to test reinforced batteries installed by the U.S. aircraft maker. The ANA flight was the second by an airline since aviation regulators on Friday gave permission for 787 operations to restart after batteries on two of them overheated in mid January. One was on an ANA plane in Japan and another on a Japan Airlines jet parked at Boston's Logan airport. ... Full Story | Top |
| Merger of drugmakers Valeant, Actavis on hold: source Saturday, Apr 27, 2013 06:19 PM PDT (Reuters) - A proposed merger of Valeant Pharmaceuticals International Inc and Actavis Inc was put on hold after the two drugmakers failed to agree on terms of a deal that would have created a healthcare giant with a combined market value of $35 billion, a person familiar with the situation told Reuters on Saturday. Actavis spokesman David Belian and Valeant spokeswoman Laurie Little both declined to comment. Canada's Valeant was seeking to buy smaller U.S. ... Full Story | Top |
| Brazil's Vale agrees to pay workers as it exits Argentina mine Saturday, Apr 27, 2013 02:56 PM PDT SAO PAULO (Reuters) - Brazilian mining giant Vale SA will pay two and a half months' salary to workers in Argentina as part of an agreement signed on Friday allowing the miner to exit the $6 billion Rio Colorado potash project. The payments will go to about 4,900 subcontractors, a spokeswoman said on Saturday, declining to give further details on the cost of the accord. The agreement could put an end to months of uncertainty for Vale, which suspended work on the fertilizer project in December and announced its intention to pull out in March. ... Full Story | Top |
| FAA says air travel system to be normal Sunday night Saturday, Apr 27, 2013 10:56 AM PDT  (Reuters) - The Federal Aviation Administration (FAA) said on Saturday it had suspended all employee furloughs and that it expects the U.S. air travel system to return to normal by Sunday evening Eastern Time. The suspension follows passage on Friday of a bill allowing the agency to shift money within its budget to halt furloughs of air-traffic controllers that started April 21. The furloughs, prompted by automatic budget cuts, caused thousands of flight delays and hundreds of cancellations throughout the week. ... Full Story | Top |
| Italian court rejects Nomura seizure order: sources Saturday, Apr 27, 2013 07:19 AM PDT  By Silvia Ognibene SIENA, Italy (Reuters) - An Italian judge has rejected an order to seize around 1.8 billion euros ($2.3 billion) of assets from Nomura as part of a probe into suspected fraud involving troubled lender Monte dei Paschi di Siena, legal sources said on Saturday. Assets worth 140 million euros that were already seized from the Japanese bank have been released under the judge's ruling, which was made on Friday, the judicial source said. A spokeswoman for Nomura in Italy declined to comment. ... Full Story | Top |
| Kenya's March tea output rises 87 pct yr/yr, exports edge up Saturday, Apr 27, 2013 06:01 AM PDT  NAIROBI (Reuters) - Kenya's tea production in March jumped 87 percent on a year ago to 33.3 million kg due to favourable weather, according to national regulator, the Tea Board. Kenya, east Africa's largest economy, is the world's top exporter of black tea, which is a major source of foreign exchange, earning it 112 billion shillings last year. Tea exports last month also inched up to 36.1 million kg from 35.4 million kg in March 2012 on higher supply, the Tea Board said in a statement issued on Friday. ... Full Story | Top |
| Egypt may be 65-70 pct self-sufficient in wheat this year -PM Saturday, Apr 27, 2013 05:33 AM PDT  CAIRO (Reuters) - Egypt may reach 65 to 70 percent self-sufficiency in wheat production this year because of an expected boost in the local harvest, the prime minister said on Saturday. Egypt usually imports around 10 million tonnes of wheat a year but this year the state says it will buy only around 4 to 5 million tonnes from abroad, hoping to get the rest from local production. More than two years of political turmoil since a popular uprising ousted President Hosni Mubarak have frightened away tourists and foreign investors, draining the foreign currency reserves used to pay for imports. ... Full Story | Top |
| South African mining magnate Motsepe eyes Guinea iron ore Saturday, Apr 27, 2013 05:30 AM PDT CONAKRY (Reuters) - Patrice Motsepe, the South African mining magnate and executive chairman of African Rainbow Minerals has plans to invest in Guinea's iron ore industry, he told reporters after meeting Guinea's president Alpha Conde on Friday. Motsepe, South Africa's first black billionaire with assets estimated by Forbes magazine at $2.65 billion, said he was also looking at other sectors including transport and infrastructure. "We are interested in iron ore and in infrastructure related to iron ore," Motsepe said without giving further details. ... Full Story | Top |
| Ethiopian Airlines first to fly 787 Dreamliner since grounding Saturday, Apr 27, 2013 04:53 AM PDT  By Aaron Maasho ADDIS ABABA (Reuters) - Ethiopian Airlines on Saturday became the world's first carrier to resume flying Boeing Co's 787 Dreamliner passenger jets, landing the first commercial flight since the global fleet was grounded three months ago following incidents of overheating in the batteries providing auxiliary power. The flight from Addis Ababa to Nairobi was the first since regulators grounded all Dreamliners on January 16 after two lithium-ion battery meltdowns that occurred on two jets with other airlines within two weeks that month. U.S. ... Full Story | Top |
| Mauritius FinMin: 2013 inflation seen below c.bank forecast Saturday, Apr 27, 2013 03:36 AM PDT  PORT LOUIS (Reuters) - Mauritius' annual average inflation rate in 2013 is expected to fall below the central bank forecast of 4.7 percent to 4.9 percent, Finance Minister Xavier Duval said on Saturday. The rate is expected at 4.5 percent or 4.6 percent this year, Duval said, adding that the bigger concern is flagging economic growth in the Indian Ocean island state. Mauritius cut growth forecast from 3.7 percent to 3.5 percent last month, citing deeper contraction in the construction industry. "Macroeconomic priority should be given to growth as inflation is less a problem. ... Full Story | Top |
| RWANDA-EUROBOND-20130427 Saturday, Apr 27, 2013 03:06 AM PDT By Tosin Sulaiman JOHANNESBURG (Reuters) - Rwanda's debut $400 million Eurobond was trading at par on Friday, a day after a heavily oversubscribed sale, a sign that the deal was "priced to perfection," according to the lead managers. The 10-year bond was sold at a yield of 6.875 percent and sold off marginally early on Friday before going back to par later in the day. "The bonds went free to trade on Thursday afternoon and we've seen two way flow since then with the bonds closing the week at the reoffer price of 98. ... Full Story | Top |
| ETHIOPIA-CHINA-ELECTRICITY-20130427 Saturday, Apr 27, 2013 03:04 AM PDT China lends Ethiopia $1 bln for mega-dam power lines By Aaron Maasho ADDIS ABABA (Reuters) - Ethiopia secured a $1 billion loan from China on Friday to build transmission lines linking its capital Addis Ababa with Africa's biggest hydropower dam being built on the Nile. Ethiopia wants to become one of the world's leading power exporters and plans to invest more than $12 billion to harness energy from the rivers running off its rugged highlands. It aims to generate over 40,000 MW of hydropower in the next two decades. ... Full Story | Top |
| NIGERIA-LOADING-JUNE-20130427 Saturday, Apr 27, 2013 03:01 AM PDT  LONDON (Reuters) - Nigeria is set to export around 1.65 million barrels per day of crude oil in June, well down from May, shipping lists showed on Friday, though the figure excludes Bonny Light cargoes that are under a force majeure. The figure does include two Bonny cargoes that traders said were deferred from June, while some think that more cargoes from the grade will be announced when the extent of the disruption due to the closure of the Nembe pipeline becomes clearer. The initial figure is well down on the 2. ... Full Story | Top |
| Wall Street Week Ahead: Central banks, data to steer investors Saturday, Apr 27, 2013 02:49 AM PDT  By Wanfeng Zhou NEW YORK (Reuters) - With signs of a slower economy mounting, the near-term outlook for U.S. stocks isn't rosy, but investors may find comfort next week from the world's major central banks. The Federal Reserve will meet on Tuesday and Wednesday, with the report of weaker-than-expected, first-quarter growth could reinforce expectations the Fed will keep purchasing bonds at a pace of $85 billion a month. ... Full Story | Top |
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