IBT Staff Reporter

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Bahrain F1 cancelled; opposition leader to return

The March opening race of the Formula One season in Bahrain was cancelled on Monday, as the country's opposition prepared to press for change in country's Sunni leadership, backed by protesters camped out in streets.

Catholic splinter group sees no Vatican accord

Vatican talks with a controversial Catholic splinter group are nearing an end without any accord on reintegrating the ultra-traditionalists, including a bishop whose denial of the Holocaust has embarrassed Pope Benedict.

Pakistan vows to keep U.S. prisoner safe

Pakistan said on Monday it was taking steps to keep a U.S. consulate worker, imprisoned in a local jail for shooting two Pakistanis, safe from harm in a case that has unleashed a diplomatic storm.

Mondi FY profit jumps, sees price hikes

South African papermaker Mondi posted a fourfold surge in annual profit, helped by recovering demand for paper and packaging, and said it would hike prices to cushion the impact of rising costs.

Truworths boosts H1 profit, mulls share buybacks

Truworths, South Africa's biggest listed clothing retailer, posted a 19 percent rise in first-half profit as lower interest rates boost consumer spending and said it was considering M&A or buying back shares.

Nigerian cbank governor says naira not over-valued

Nigerian Central Bank Governor Lamido Sanusi said on Monday he did not believe that the naira was over-valued and criticised advice from the IMF, which last week recommended greater exchange rate flexibility.

S.Africa's rand steady against dollar, stocks gain

South Africa's rand was little changed from last week's closing levels against the dollar on Monday, with central bank intervention helping stem gains in the currency despite support from stronger commodity prices.

Shell to sell stake in Mauritius unit

Petroleum distributor Shell Mauritius Ltd said on Monday that parent Royal Dutch Shell planned to sell three quarters of its stake in the company to two joint venture partners.

Stratex to drill for Ethiopia gold, silver

Stratex International Plc plans to start drilling for gold and silver in the second quarter of this year in northern Ethiopia, the London-listed gold exploration firm said on Monday.

Private managers to run Sudan's state oil firm

Sudan has appointed private sector businessmen to help manage its state oil firm Sudapet, which owns stakes in all of Sudan's oil blocks, to improve the company's efficiency and widen its scope, the oil minister said.

S.African truckers end week-long strike

South African truckers ended their week-long strike on Monday after accepting an above inflation salary increase of 9 percent, union officials and employers said.

Egypt asks for freeze on Mubarak assets

Egypt's public prosecutor on Monday moved to freeze the foreign assets of Hosni Mubarak, the first sign that the deposed president would be held to account by the rulers to whom he handed power 10 days ago.

Zimbabwe arrests 46 over Egyptian-style protests

Zimbabwe has arrested dozens of activists on charges of plotting protests against long-serving President Robert Mugabe similar to those that toppled the leaders of Egypt and Tunisia, police said on Monday.

Gaddafi under threat as revolt hits Tripoli

Libyan leader Muammar Gaddafi's four-decade-old rule appeared in increasing jeopardy on Monday when days of anti-government protests reached the capital for the first time and security forces killed dozens of people.

Gold above $1,400, silver price exploding as Mid East violence spreads

Silver touched its highest USD price in 31 years and palladium a 10-year peak. Gold prices rose above $1,400 an ounce on Monday for the first time in nearly seven weeks as violence flared in north Africa and the Middle East, boosting interest in the precious metal as a haven from risk.

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