Jack Kim

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Gaddafi counter-offensives raise civil war fears

Troops loyal to Muammar Gaddafi have launched counter-offensives against rebel-held towns, increasing fears that Libya is heading for a civil war rather than the swift revolutions seen in Tunisia and Egypt.

Merkel quickly replaces fallen minister

German Chancellor Angela Merkel quickly replaced popular Defence Minister Karl-Theodor zu Guttenberg on Wednesday, hoping to put his plagiarism affair behind her to focus on three state elections.

Militants say killed Pakistani minister for blasphemy

Taliban militants on Wednesday shot dead Pakistan's only Christian government minister for challenging a law that mandates the death penalty for insulting Islam, the latest sign of instability in a country where many fear radical Islam is becoming more mainstream.

Mozambique's CDN to invest $200 mln in port upgrade

Mozambique's Nacala Development Corridor (CDN) plans to invest $200 million to upgrade its port at Nacala and raise capacity to 16 million tonnes of cargo in 2030 from 1.5 million tonnes, a CDN official said on Wednesday.

LCB deal promotes alternative S.Africa coal port

London Commodity Brokers (LCB) aims to sell 2 million tonnes of South African thermal coal a year for Strategic Natural Resources (SNR) PLC, using the port of East London rather than the highly congested Richards Bay.

Zambia Jan copper output up 60 pct y/y

Copper output in Zambia, Africa's leading producer of the metal, increased by 60 percent in January as mining companies boosted production due to favourable prices, the central bank said on Wednesday.

Algeria sees Orascom Tel unit valuation by end-May

Consultants hired by Algeria to value Orascom Telecom's local mobile phone unit are scheduled to complete their work by the end of May, Algerian telecommunications minister Moussa Benhamadi told Reuters.

Ghana passes oil bill, first payments due soon

Ghana will receive its first payment for oil flows later this month, the country's finance minister said on Wednesday after parliament passed a long-delayed oil revenue management bill in a unanimous vote.

Ivory Coast fighting spreads to southern Abidjan

Explosions rocked the southern Abidjan suburb of Koumassi overnight and on Wednesday, as fighting between insurgents seeking to oust Ivory Coast's Laurent Gbagbo and security forces spread to new areas of the main city.

ICC prosecutor to probe Libyan violence

The International Criminal Court prosecutor said on Wednesday he would investigate the violence in Libya after the U.N. Security Council referred the case to the Hague-based war crimes tribunal.

Gaddafi strikes at town, rebels eye foreign help

Muammar Gaddafi launched a land and air offensive to retake territory in Libya's east at dawn on Wednesday, sparking a rebel call for foreign air strikes against African mercenaries they said were helping him cling to power.

February rains good for Ivorian cocoa mid-crop

Rains mixed with good sunny spells last week in most of Ivory Coast's cocoa growing regions would help the development of the April to September mid-crop, farmers and analysts said on Monday.

Nigeria's AMCON on track to soak up all bad loans

Nigeria's state asset management company said on Monday it was set to start the second round of non-performing loan purchases from the banking sector and was on track to soak up all bad credit by the end of next month.

Sonatel's margins pressured by rivals, tax

Senegalese telecom operator Sonatel saw 2010 net profits slip as tougher competition nibbled at its margins and it was hit by a temporary tax surcharge on incoming traffic, the group said.

S.Africa yield spread at record high, stocks gain

South Africa's government bond curve steepened again on Monday with the yield spread between shorter and longer-dated debt hitting a record high as dealers positioned ahead of a debt auction on Tuesday.

Tanzania says close to $400 mln power project loan

Tanzania is close to concluding a $400 million loan to finance a 200 megawatts coal-fired power project amidst chronic energy shortages in east Africa's second largest economy, the president said on Monday.

Iran blames broken pump for atom fuel removal

Iran is believed to have told the U.N. atomic watchdog a broken pump is forcing it to remove fuel from its first nuclear power reactor, a new setback for the $1 billion (615 million pounds) project, experts familiar with the issue said on Monday.

Merkel's party holds slim lead before state vote

Chancellor Angela Merkel's centre-right coalition holds a narrowing one-point lead over the centre-left opposition in Baden-Wuerttemberg one month before the key state election, according to a poll published on Monday.

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