Aim-traded Chariot Oil & Gas (CHAR:4p), a £14.7m market cap oil exploration company with activities in Morocco, Namibia and Brazil, has been awarded a 75 per cent interest and operatorship in the Lixus Offshore Licence, Morocco, in partnership with the state owned oil company Office National des Hydrocarbures et des Mines (ONHYM) which holds a 25 per cent carried interest. To continue reading, subscribe today and enjoy unlimited access to the following: Tips of the WeekFunds coverageWeekly features on big investment themesTrading ideasComprehensive companies coverageEconomic analysis Subscribe
April 17, 2019 10:52 UTC
TechInAfrica – The 3rd edition of AIM Startup was held in conjunction with the Annual Investment Meeting in Dubai on April 10, 2019. More than 100 startups from the Middle East and North Africa (MENA) gathered at the event. The AIM Startup 2019 went under the theme Harnessing Global Digitization to Empower Startup and SMEs. At the AIM Startup 2019, Khalifa Fund is one of the exhibitors that showcased its financial solutions for national SMEs. In the national level, there are National Program for SMEs and Projects, Sheraa, Sharjah Business Women Council, Khalifa Fund, Dubai South, Wamda, Abu Dhabi Global Market, etc.
April 17, 2019 10:30 UTC
PepsiCo on Wednesday reported quarterly earnings and revenue that topped analysts' expectations, thanks to continued growth internationally and by its Frito-Lay snack business. Excluding restructuring and impairment charges, tax benefits and other items, PepsiCo earned 97 cents per share, topping the 92 cents per share expected by analysts surveyed by Refinitiv. Laguarta blamed currency headwinds for the difference between overall sales growth and organic growth. On Wednesday, the company reiterated its 2019 targets, including 4 percent organic revenue growth and earnings per share of $5.50. Last quarter, PepsiCo missed Wall Street's expectations for its 2019 outlook when it forecast declining earnings as it spends more on marketing and advertising to boost sales.
April 17, 2019 10:18 UTC
PepsiCo (PEP) earnings, revenue in Q1 beat market expectationsBeverage giant PepsiCo Inc. (PEP) announced its first-quarter 2019 earnings results on Wednesday, April 17, before the opening bell. Net revenue inched just 3% higher to $12.9 billion, with operating profit jumping 11% to $2 billion. Analysts expected the Coke-rival to report earnings of $0.92 per share on revenue of $12.7 billion. When dissected, revenue from Frito-Lay North America grew 5.5% to $3.8 billion, while that from Quaker Foods North America slipped 1% to just $594 million. PepsiCo Beverages North America revenue grew 2% to $4.5 billion.
April 17, 2019 10:14 UTC
Hungarian Prime Minister Viktor Orban praised Serbia for having accepted Budapest's decision to erect a barrier at its border to stem the continuous flow of unauthorized migrants. Orban spoke to journalists on Monday in Subotica, in northern Serbia at the Hungarian border, following a joint session of the governments of the two countries. He said Serbia understood that it also benefits from the barrier at the border because while migrants can't enter Hungary, less will also arrive in Serbia. It's a shared success of Serbian and Hungarian migratory policy," the conservative prime minister said. Serbian Prime Minister Ana Brnabic highlighted the humane and responsible approach by her country during the most critical phase of the migrant emergency along the Balkan route in 2015 and 2016.
April 17, 2019 09:00 UTC
Egypt ‘to be Africa’s data gateway’, says CEO of Telecom Egypt at Capacity event4h | Alan Burkitt-GrayEgypt is poised to become the African hub and the gateway to Africa, says the CEO of Telecom Egypt, opening a Capacity conference. Adel Hamed (pictured), who took over the leadership of Telecom Egypt earlier this year, opened the Capacity North Africa conference in Cairo with a declaration that the company and Egypt itself could be the key hub for Africa. North Africa needs more internet exchanges and data centres to keep content in Africa.”He called for Alexandria, on Egypt’s Mediterranean coast, to become a data centre hub comparable wit Marseille. Guillaume Perdriaud, chief wholesale and international officer at Inwi, the Moroccan operator, agreed about the importance of building infrastructure into Africa. We need to build the future,” he told the conference.
April 17, 2019 07:41 UTC
Total steel demand will reach 1,735 million tonnes (Mt) in 2019, and 1,752 Mt in 2020. In China, steel demand is contracting due to the impact of trade tensions with the United States and a slowdown in Chinese economic growth, the steel outlook on Tuesday said. Demand for steel in emerging economies, excluding China, is expected to grow by 2.9 per cent and 4.6 per cent in 2019 and 2020. Steel demand in Korea has been contracting since 2017 due to reduced demand from two major steel-using sectors – shipbuilding and automotive. In the US, too, steel demand growth is expected to slow, as fiscal stimuli subside, according to the report.
April 17, 2019 06:53 UTC
According to the South African Machinery Association, the current situation regarding summer crop prospects, particularly in the west of the country, is precarious. However, expansion in major economies, including South Africa and Nigeria, is likely to prove disappointing. Source: National sources, Fitch SolutionsImproving Prospects For Long-Term GrowthMachinery companies are slowing growth more optimistic about the long-term sales growth prospects in the region. Despite the optimism, we believe that countries in Southern Africa and North Africa will remain the key markets for agricultural machinery companies in Africa over the next five years. In October 2017, M&M announced that it will set up new production sites in Durban, South Africa, which began operations in mid-2018.
April 17, 2019 06:00 UTC
“It was liberating, I felt like I was actually changing something,” Al Daoud recalls. “They were saying really harassing phrases like esh ya gita – calling the model a cat – and other insults,” Al Daoud says. First, Al Daoud had to convince her family. “You can’t put a border on Islam,” Al Daoud says. “It’s always going to be a fight but sometimes it’s worth it.”
April 17, 2019 06:00 UTC
Only a few African nations operate more than a handful of Su-25s. Even South Africa, which has the most developed economy on the continent, barely flies its fleet of 26 Saab JAS-39C/D Gripens. Paramount, recognizing that it might have an opportunity, started developing the light turboprop counter-insurgency machine in 2009 with the African market in mind. South Africa has a range of indigenous weapon it can offer to potential clients—the Denel Mokopa anti-tank missile is just one example. The ARHLACs only real weakness is that South Africa has to seek approval to export the PT-6 from the U.S. government—which could be a problem for some potential customers.
April 17, 2019 03:56 UTC
WASHINGTON: Pakistan’s economy is projected to slow down significantly and weigh on the region’s aggregate growth rate, says Jihad Azour, director of the Middle East and Central Asia department at the International Monetary Fund. At a recent talk on the economic outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region, Azour argued that global economic headwinds were making policy efforts more urgent and challenging for MENAP. For oil importers in this region, growth is expected to ease to 3.6 per cent this, from 4.2pc in 2018, in part due to weaker global economic environment. These budget pressures underscored the urgency of lifting medium-term growth with structural reforms such as measures to improve business environment and governance, enhance labour market flexibility, and strengthen market competition, the IMF argued. While advanced economies were responsible for most global debt, in the last 10 years emerging markets have been responsible for most of the increase with China alone having contributed 43pc to the rise in total global debt since 2007.
April 17, 2019 01:52 UTC
Turki Al-Sheikh, head of the Saudi Entertainment Authority and Chairman of the Arab Football Federation, announced that the 2020 Arab Club Champions Cup will be named the King Mohammed VI Champions Cup. “I am honored as the President of the Arab Football Federation that the second edition of the Arab Champions Cup will bear a name dear to all the Arabs, His Majesty King Mohammed VI, may God protect him, who honored us with his approval,” said Turki Al-Sheikh in a posting published Tuesday on his official Facebook page. Shortly after arrival in Rabat, he was received by King Mohammed VI as shown in photos published by some local news outlets, including Barlamane.com. The 2018-2019 edition of the Arab competition bears the name of Sheikh Zayed Al Nahyan, to mark the 100th birthday of the late President of the United Arab Emirates. The Arab World’s inter-club football tournament, organized by UAFA, was formerly called Arab Club Championship before being renamed the Arab Club Champions Cup.
April 17, 2019 00:56 UTC
Mike Cerre:Spikes in precipitation, both too much and too little, which are commonly associated with changing climate conditions, can be directly correlated with spikes in migration. Combine that with the Sahel's dependence on agriculture and its chronic problems with poverty, population growth and lack of any real infrastructure for dealing with these issues, more people who depend on the land to live have no other choice than to leave. Thierno Diallo and his family had always been farmers, until the changing climate forced him to leave. Like other young men unable to support themselves or their families, he was willing to risk the treacherous desert crossing to North Africa, and across the Mediterranean in search of work, now that agriculture was no longer an option.
April 17, 2019 00:45 UTC
Arab North Africa is in turmoil, and Americans are too tired, disillusioned or self-absorbed to do anything about it. The Arab Spring that swept the region beginning in late 2010 quickly turned into a long winter. Now Arab Spring 2.0 is upon us. Last week, Haftar brazenly dismissed international pleas, including from the United Nations, to forgo a planned attack on Tripoli. Time and again, grim Arab realities have slapped advocates of democracy and good governance in the face.
April 16, 2019 23:37 UTC
This is a summary of 17 AMN articles on the following subjects: Aleppo, Syria, Kurds, Turkey, Israel, New_Zealand, Iraq, ISIS, Russia, Libya, Tripoli, Saddam, Lebanon, Iskander, Masyaf, US. Categories covered in this brief: Syria, Turkey, Iraq, North-Africa, World-News, Lebanon, MiddleeastLet us know how you like this brief in the comments below. This attack by the Turkish Army on the YPG forces came shortly after their Air Force conducted reconnaissance flights over the Aleppo Governorate. While the Syrian military frequently tracks Israeli warplanes along the Syrian-Lebanese border, they have refrained from attempting to down any enemy aircraft because such a move would trigger a powerful response the IAF. However, as the Syrian military has seen time-after-time, if they remain idle, Israel uses Lebanon to enter Syria and then bomb their installations.
April 16, 2019 21:56 UTC