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Pharma boss Martin Shkreli arrested on fraud charges

Representatives for pharmaceutical boss Martin Shkreli, who sparked outrage after hiking up the price of a medicine used by Aids patients, say he strongly denies fraud charges. He is accused of fraud relating to a drug company he previously headed, Retrophin, and a hedge fund, MSMB Capital Management, where he was a fund manager. He […]

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Magufuli sacks ACC chief

Tanzanian President John Magufuli on Wednesday dismissed the head of the government’s anti-graft body for failing to tackle high-level corruption in east Africa’s second-biggest economy, Magufuli’s office said. Magufuli sacked Edward Hoseah, the long-serving director general of the Prevention and Combating of Corruption Bureau (PCCB), due to the slow pace of the fight against graft. […]

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Zambia, Namibia, DRC in road safety partnership

  Zambia, Namibia and the Democratic Republic of Congo have adopted the draft Trilateral Road Transport Agreement (RTTA) which when actualized is aimed at strengthening road transport, road safety and trade facilitation among the three countries. This is according to a joint communiqué issued following the draft Agreement signed in the Congo DR. RTSA information […]

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Lungu extols Tanzania

PRESIDENT Edgar Lungu says Zambia has a lot to learn from the recent elections and power transition in Tanzania. President Lungu pointed out that the Patriotic Front has learnt how to handle intra-party democracy as seen in the Tanzanian ruling party Chama cha Mapinduzi. He, however, noted that there will always be people that do […]

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Two Pope advisors arrested over leaks

    VATICAN CITY (AP) – A high-ranking priest and a  member of a papal reform commission have been arrested following  investigation into leaked confidential documents. The latest arrests of two advisers hand-picked by Francis to help in his effort to overhaul Vatican finances threatened to further expose infighting and rifts surrounding the pope’s efforts […]

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Glencore to invest US$ 950m in Zambia’s Mopani Copper Mines

SWITZERLAND-BASED natural resources company Glencore Plc (LSE:GLEN) is set to invest USD 950 million in a three-year plan towards the year 2018 to improve assets and lower production costs at its Mopani Copper Mines in Zambia. The company explained it will use the investment for site expansions, upgrades and refurbishment of assets to extend the […]

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Mine owners welcome Africa vision

  Governments’ decision to spearhead the formulation of mine policy in line with the African Vision will create an enabling environment for mines to operate, says Zambia Chamber of mines (ZCM) president Nathan Chishimba. He said policy consistency would increase Governments revenue collection and benefit all Zambians. Mr Chishimba said most mines in Africa and […]

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Germany offers Zambia concessional loans

  Germany is ready to offer concessional and promotional loans for Zambia’s electricity sector, says Zambia’s Ambassador to Germany Bwalya Chiti. He noted that this was the first time that the German Federal Ministry for Economic Cooperation and Development through the Development Bank was offering Zambia such loans. “This opens up significant potential for cooperation […]

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Bharti Airtel earnings grow by 7pc

  Bharti Airtel Limited consolidated revenues for the second quarter ended September 30, 2015 grew by 6.6 per cent at Rs23,836. Managing director and chief executive officer India & South Asia Mr. Gopal Vittal  said Airtel’s s revenue growth in India has accelerated to 13.3percent on an underlying basis, the highest in the last 12 […]

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IMF ready to bail out Zambia

THE International Monetary Fund (IMFI is more than ready to give Zambia financial assistance to help mend its battered economy in the wake of global economic meltdown, says its head of Africa department Antoinette Sayeh. Ms Sayeh said Zambia was another country struggling with rising cost of servicing dollar debt after halving in the value […]

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