Mogadisho Xuska Boliska Police Somalia (Photos)



























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Chinese firm plans $3.5 bln Zimbabwe power plant -report

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China's Guangdong Bureau of Coal Geology plans to invest $3.5 billion to build a 1,200 megawatt thermal power plant in Zimbabwe, local media reported on Tuesday. The southern African country currently generates about 1,000 MW of electricity, half of its peak demand, and is battling frequent power cuts which have affected industry and mines. A delegation from the Chinese company is currently visiting Zimbabwe to explore opportunities in the power sector, the state-controlled Herald newspaper reported. "We came here to observe and study the possibility of building a thermal power plant," Mu Yong, a director at the Chinese firm, was quoted as saying. "Our proposed budget is about $3.5 billion for a 120 million watts plant." In July, Energy Minister Elton Mangoma told parliament that China Railway International, a subsidiary of China Railway Group and Zimbabwe's state power utility ZESA were planning to jointly run a coal mine that would supply a proposed 1,...
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Egypt tells investors it is working to jumpstart economy

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Egypt's prime minister told international investors on Monday that he was working on rapid measures to make Egypt more attractive and get the economy back on track after more than a year and a half of political turmoil. Hisham Kandil also said his government was open to increasing the amount of financial support it was seeking from the International Monetary Fund (IMF). Speaking in a rare hour-long conference call with investors, he said Egypt aimed to quickly wrap up crucial loan talks with the IMF, take tangible measures to get fiscal problems under control and resolve investment disputes. Egypt's government has been on a charm offensive over the last few weeks to lure investors and aid from foreign governments to restart an economy that has grown by an anaemic 2 percent since last year's popular uprising. So far it has attracted billions of dollars in commitments. "We are aiming within three months to create quick wins on the ground," said Kandil, who was nam...
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