MS News Briefing (April 20 2010)

Albania

S&P Assigns Albania B+ Sovereign Credit Rating; Outlook Stable (NASDAQ.com): Ratings agency Standard & Poor's Corp. Monday assigned Albania a B+ sovereign credit rating, pointing to its relatively low prosperity, high government debt and an uncertain political environment.

Ashta hydropower project in Albania on track for completion in 2012 (HydroWorld.com): Construction of Albania's 48-MW Ashta run-of-river hydropower project is on schedule for completion by 2012, developers reported.

QF conducts QR2.5m projects in Albania (The Peninsula Quatar): Qatar Charity implemented a number of developments projects in Albania worth QR2.5m last year. Around 42,000 people benefited from the projects which were carried out in collaboration with a local charity organisation called Friendship Foundation.

Algeria

Sonatrach racks up new finds (Upstreamonline.com): Algerian state producer Sonatrach has unveiled two new oil and gas finds, bringing to seven the number of hydrocarbon discoveries in the North African country's play this year.

Sonatrach’s Medgaz to Start Operations Within Four Months (Bloomberg): Sonatrach, Algeria’s state-owned energy company, plans to start transporting fuel through its new Medgaz pipeline within four months, the company’s acting chief executive officer said.

Cancor Resumes its Gold Exploration Activities in Algeria (Marketwatch): Cancor Mines Inc.(CNSX: KCR) is pleased to announce that exploration activity has resumed on its gold properties in Algeria. Cancor holds four permits for gold exploration in the Hoggar region of Algeria, located approximately 2000km south of the capital Algiers.

Bangladesh

Bangladesh to sign nuclear plant deal with Russia (AFP): Bangladesh will sign a deal with Russia to build two nuclear power plants at a cost of at least three billion dollars in the electricity-starved Asian nation, Dhaka's atomic energy chief said Sunday. 

Bangladesh projects big hike in fuel oil import bills (People’s Daily Online):Bangladesh's fuel oil import bills in the next fiscal year 2010-11 beginning in July will mark rise by over 36 percent compared to that in the ongoing fiscal year 2009-10 (July 2009-June 2010), a senior official said Monday.

ICCB suggests Bangladesh use coal for power (Reuters) - An international business group on Sunday urged power-starved Bangladesh immediately to explore and use a huge reserve of coal to generate electricity to cut dependence on natural gas.

DRC

Vodacom Plans Arbitration Proceedings Over Congo Unit (Bloomberg): Vodacom Group Ltd. said it will begin arbitration proceedings after shareholders in its venture in the Democratic Republic of Congo failed to reach agreement on issues including a capital restructuring.

India

Mumbai has financials on its mind (MarketWatch): As we head into a new week, investors in India will have a lot more to focus on than being spectators to the blatant game of one-upmanship between two of the country's top regulators.

Upbeat message about India investment prospects (Financial Times): European investors considering investing in India will be able to tap into the expertise of one of the country’s most successful fund managers, Reliance Capital , following last month’s launch of the Insynergy Absolute India Fund.

India's international unease (Guardian): Unlike China, India is finding it difficult to adapt to its status as an emerging 'Great Power' looked upon favourably by the west.

Nepal

IMImobile launches data services for Ncell in Nepal (Voice&Data): IMImobile has launched a wide range of data services for over 2.2 million subscribers of Spice Nepal (brand Ncell) in Nepal.

Sri Lanka

The Asian Development Bank says Sri Lanka would achieve an economic growth rate of six percent this year (Sri Lanka Broadcasting Corporation): The Asian Development Bank says Sri Lanka  will achieve an economic growth rate of six percent this year, despite having  a budget deficit. Last year, the economic growth rate was at 3.5 percent.  Sri Lankan director of the ADB Richard Volkes at a media briefing  in Colombo this morning said that the ending of a 30 year old war is a major contributing factor for this development.  He also predicted that economic growth rate would reach 7 percent next year.  He expressed hope that the private sector would help to achieve this position by engaging in development activities in the northern and eastern provinces.  The tax management programme of the government would also help to achieve this progress.

Syria

Otri, Ogasbian Review Syrian-Lebanese Cooperation (SANA): Prime Minister Mohammad Naji Otri reviewed on Monday with Lebanese Minister of State Jean Ogasbian cooperation and the fraternal ties between the two brotherly peoples.

Both sides expressed desire to develop these relations and expand them to achieve the joint interests of the two countries.

The meeting was attended by Secretary-General of the Syrian-Lebanese Higher Council Nassri Khoury, the Lebanese Ambassador in Damascus and Chairman of the Syrian State Planning Commission Amer Hosni Lutfi.

Hesia Investment more than SP 69 Billion in First Quarter of 2010 (SANA): Investment volume in the Industrial City of Hesia hit SP 69.3 billions (USD 1,50 billions) at the end of the 1st quarter of 2010.

Director General of the City Khaled Ezzeddin said that the projects invested have provided 15,000 job opportunities, adding that the number of industrial units reached 780.

Tanzania

Bharti Airtel in Talks With Tanzania Government Over Zain Deal (Business Week): Bharti Airtel Ltd., which has offered $9 billion for 15 of Kuwait-based Zain’s African units, is in talks with Tanzania’s government over its stake in Zain Tanzania.

Zambia

Usage of ICTs bridges rural-urban divide (LusakaTimes.com): Enhanced usage of information communication technologies (ICTs) can help bridge the rural-urban divide and promote development, President Rupiah Banda said yesterday as he commissioned the first-ever Government-funded community telecentre in Mongu.