India’s biggest drugmaker Ranbaxy said Wednesday its quarterly net profit slid 90 percent, hit by the loss of exclusive rights to sell a copycat version of cholesterol-busting drug Lipitor in the United States. The Indian generics firm, majority-owned by Japan’s Daiichi Sankyo, posted a net profit of 1.26 billion rupees ($23 million) for the three [...]
Simon Ateba/Lagos Africa is becoming more attractive to investors and Foreign Direct Investment (FDI) projects have steadily grown over the past five years in the continent, Ernst & Young said on Monday, as the firm released its third Africa Attractiveness Survey. The report contains an analysis of international investment into Africa over the past five [...]
Nigerian President Goodluck Jonathan and his South African counterpart Jacob Zuma will discuss ways to boost trade between Africa’s two biggest economies during talks in Cape Town next week. Jonathan will leave Abuja on Monday for a two-day state visit ahead of the World Economic Forum on Africa, which opens in Cape Town on Wednesday, [...]
WASHINGTON(AFP) – A solid job creation report for April and a fall in the jobless rate to 7.5 percent sweetened the picture for the US economy Friday, amid worries that it has tumbled into a “spring swoon.” The Labor Department said the economy added a firm 165,000 jobs last month, and revised sharply upward the [...]
BRUSSELS (AFP) – Recession in the crisis-hit eurozone will continue unabated for the rest of the year with unemployment remaining at record levels, the EU warned on Friday, though signs of recovery could emerge in 2014. Economic output in the 17-nation area — home to 340 million people and a global rival to the United [...]
Around 100 miners are estimated to have died inside a collapsed gold mine in Sudan’s Darfur region and nine rescuers trying to free them are now trapped, a miner said on Friday. “Nine of the rescue team disappeared when the land collapsed around them yesterday (Thursday),” said the miner, who had visited the scene and [...]
Spain’s economy shrank in the first quarter of 2013, official data showed Tuesday, as a job-destroying recession held its grip on the struggling nation. Weak domestic demand dragged down output in the eurozone’s fourth largest economy, which has been shrinking since mid-2011, the National Statistics Institute said. Gross domestic product tumbled by 0.5 percent on [...]
