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(MENAFN - AFP) US companies are planning $14 billion worth of investments in Africa, a White House official said Tuesday as Washington seeks to strengthen commercial ties during the historic US-Africa Leaders Summit.

With the United States seeking to counter the Chinese and European trade dominance in Africa, a White House official said the investments will span a range of ...

(MENAFN - AFP) InterContinental Hotels Group said on Tuesday that its profits fell in the first half of the year but the owner of the Holiday Inn chain expressed confidence about the outlook.

Net profit slid 30 percent to $238 million (178 million euros) in the six months to the end of June compared with the equivalent period one year earlier, said IHG, which is the world's ...

(MENAFN - AFP) A German court said it would rule Tuesday on an offer by Formula One tycoon Bernie Ecclestone to pay $100 million to end his trial on bribery charges.

"The court must review this offer in its entirety, which it will do by 1 pm (1100 GMT)," presiding judge Peter Noll said, confirming a media report that the Briton proposed the huge settlement to halt the proceedings ...

(MENAFN - AFP) Toyota said Tuesday its net profit in the three months through June came in at a record $5.7 billion, with the rise largely thanks to cost-cutting and a weak yen.

The world's biggest automaker also said it was on course to deliver a profit of 1.78 trillion yen ($17.4 billion) in the current fiscal year.

However, the firm trimmed its calendar year global ...

(MENAFN - AFP) Japan unveiled Tuesday details of financial sanctions against 40 individuals and two groups involved in the annexation of Crimea and destabilisation of eastern Ukraine.

The decision freezes assets of those on the list, as Tokyo joins the West in pressing Moscow to exercise its influence over pro-Russian separatists in Ukraine to achieve a peaceful resolution ...

(MENAFN - AFP) Australia's central bank Tuesday held interest rates at a record low of 2.5 percent, marking a year since it last loosened monetary policy as it seeks to boost non-mining growth.

The Reserve Bank of Australia flagged "a period of stability" in the cash rate as it cautioned that economic growth would likely be "a little below trend" in the year ahead.

In ...

(MENAFN - AFP) Japanese auto giant Toyota said Tuesday its net profit in the three months through June rose 4.6 percent to $5.7 billion, largely thanks to cost-cutting and a weak yen.

The world's biggest automaker said it earned 587.8 billion yen ($5.7 billion) in the quarter, up from 562.2 billion yen a year earlier, as sales rose 2.2 percent to 6.39 trillion yen.

The ...

(MENAFN - AFP) Scientists said on Monday they had statistical evidence to back a novel theory that infection by the AIDS virus may reduce the risk of multiple sclerosis (MS).

Patients in England who were infected with the human immunodeficiency virus (HIV) were mathematically far less likely to develop MS than the general population they found.

If further work confirms ...

(MENAFN - AFP) The World Bank has pledged $200 million to help contain the deadly Ebola virus causing panic across West Africa, as Nigerian authorities say a doctor in Lagos has contracted the disease, the second case in the sprawling city.

The confirmation that a fourth doctor in the region had developed Ebola came Monday as fear and anger about the dead being left unburied ...

(MENAFN - AFP) Chinese pork giant WH Group, which scrapped an initial public offering worth more than $5 billion earlier this year, saw a strong Hong Kong trading debut Tuesday after its shares opened almost 10 percent higher.

Shares in the world's biggest pork firm opened at HK$6.8 ($0.88) at the Hong Kong Stock Exchange on Tuesday and was trading at HK$6.61 in the morning, ...

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