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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.

Mideast unrest spreads to tiny Djibouti

Djibouti President Ismail Omar Guelleh and French President Nicolas Sarkozy pose prior a bilateral meeting in Djibouti 20/01/2010

The unrest roiling through the Middle East and North Africa has now spread to the tiny nation of Djibouti, where thousands of people have gathered on the streets to demand the immediate resignation of President Ismael Omar Guelleh.

S.Sudan eyes new oil export links, may anger north

South Sudan will consider building new pipelines if it finds fresh oil reserves after independence, an official said, a move that could anger Khartoum if the route avoids the north through which exports now flow.

Libya's Gaddafi uses loans to flex global muscle

Libya has handed out more than $2 billion in loans to dozens of governments across the globe, according to an internal document that shows the oil exporter's diplomatic ambitions and its struggles to recover its debts.

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Africa growth on way back to pre-crisis level

African economic growth is heading back to pre-crisis growth levels, propelled by strong demand for its resources and increased South-South investment, notably from China.

An oil rig prepares to drill in western Uganda, near the shores of Lake Albert

Africa Oil closes farmout deal on E.Africa blocks

Canada's Africa Oil Corp said on Wednesday it had completed a farmout agreement for three east African exploration blocks to London-listed Tullow Oil Plc, which now holds a 50 percent stake in each of them.

Uganda's Museveni against UN on Ivory Coast

Uganda President Yoweri Museveni is against the United Nations' recognition of Alassane Ouattara as winner of Ivory Coast's election and wants an African Union probe into the poll, his spokesman said on Tuesday.

Rebels accuse Ethiopian army of ethnic cleansing

Government troops have executed civilians and conducted ethnic cleansing in Ethiopia's Somali Region, a rebel group said on Friday.

A woman shops at a supermarket in Nairobi

Ethiopia inflation jumps after currency devaluation

Ethiopia's annual inflation rate jumped to 14.5 percent last month from 10.2 percent in November following an almost 17 percent devaluation of its currency last year.

Ethiopia cracks down on price-cap violators

Ethiopia has penalised retailers and suppliers in the capital who raised the prices of consumer goods such as bread by amounts higher than caps set in January, authorities said on Thursday.

Rolex awards young laureates in Switzerland

In a ceremony held at the prestigious Ecole Fédérale Polytechnique de Lausanne in Switzerland on October 11, watch-brand Rolex awarded five young entrepreneurs, aged between 18 and 30 years, the first Rolex Awards for Enterprise: Young Laureates Programme.

A reignited civil war in Sudan could cost $100 bn : Report

A reignited civil war after the Southern Sudan referendum on independence could cost the International community and the country at least $100 billion, a think-thank report said. The January 9 vote is likely to go in the favor of the oil-rich South Sudan's demand of secession from the North. Tensions have been escalating in the region with reports of a fresh wave of attacks led by the government troops on South Sudan regions.