Somali pirates on Thursday released a Turkish-owned cargo ship and its crew of 21 people nearly four months after seizing the vessel, a company lawyer reported on Turkish broadcaster NTV. The Maltese-flagged vessel was seized by pirates on March 23 in the Indian Ocean. It was seized about a day after...

Aluminum Corp of China Ltd (Chalco) to invest $1.35 billion in a Guinea joint venture that partner Rio Tinto claims is the world's largest undeveloped iron ore deposit. Chalco is to pay Rio $1.35 billion over two years. Chalco holds 47 percent of the venture's interest while Rio has 53...

About 87% of Chief Executive Officers (CEOs) headquartered in Africa expect to see regional growth over the next year, the highest percentage anywhere in the world, according to a recent PricewaterhouseCoopers (PwC) survey. This calls for the promotion of African regional trade and global competitiveness. “With such a high expectation, greater…

Globacom Group's Chief Operating Officer, Mohammed Jameel has finally slated October 2010 to launch its operations in the West African country Ghana, refuting media reports that his outfit was considering pulling out of Ghana due to alleged sabotage and deliberate attempts to delay its network launch. According to Joy Fm’s report,...

Southern African country Mozambique projects to rake in $2 billion from its fast-growing tourism sector. According to the Tourism Minister Fernando Sumbana they expect the sector to jump five-fold in the next several years to come with investor from Africa, Asia and Europe. "With our anchor (tourism) projects that we approved...