Through his conglomerate, Reliance Industries, Ambani revealed this at the end of talks with the Minister for Natural Resources and Tourism, Mr Ezekiel Maige, at Serengeti National Park (SENAPA) on Sunday he will be sending a special team to look into areas of investment in Tanzania.

He had just ended his three-day tour of SENAPA on the day which he said was 'God's gift to Tanzania'.

"We are going to diversify our business by expanding into tourism sector as well. Tanzania is also becoming a very potential area for business," he told journalists, emphasizing he would particularly target luxury hotels ...

A statement by the CBN said: “Having reviewed the progress made so far and the response of the banking public, the CBN has extended the deadline for the information update of bank accounts from December 31, 2010 to January 31, 2011.”

The CBN had earlier given a deadline of December 31, 2010 for the accounts update, saying customers who failed to comply with the directive would have their accounts suspended with effect from January 1.

The Nigerian apex bank said the account update was part of CBN’s Customer Due Diligence known as “Know Your Customer [KYC] compliance.’’ It said KYC was used ...

In October, Circle Oil announced finding gas in well CGD-11 in the same field.

The company, which started drilling in the Sebou Permit in September, said it found gas in the deeper regions of the KSR-10 well.

The company said it would now start drilling the fourth well of the planned five-well drilling programme at the field.

Circle Oil shares, which have gained about 17 percent over the past 12 months, were up 3.6 percent at 36 pence at 0817 GMT on Tuesday on the London Stock Exchange.

Circle Oil plc is an international oil and gas exploration company with an attractive portfolio of ...

The new oil producing country is set to grow by 14% in 2011 while Eritrea is pegged at 10% with Ethiopia at 9%.

The Unit said after avoiding recession in 2008 and 2009, and enjoying the global recovery in 2010, Qatar – which topped the list - is set to grow by 15.8% this year. Strong growth is largely due to its liquefied natural gas (LNG) projects and an expansionary fiscal policy focused on infrastructure.

China and India are also projected another year of strong growth, 8.9% and 8.6%, respectively.

The report said Ireland’s and Greece’s GDP will decline by 0.9% and ...

There are actually two separate CFA francs in circulation. The first CFA is that of the UEMOA (the West African Economic and Monetary Union) and the second is that of the CEMAC (the Central African Economic and Monetary Community).

In West Africa, Ivory Coast shares the CFA currency with seven other Francophone countries: Benin, Burkina Faso, Ivory Coast, Mali, Niger, Senegal and Togo.

Originally, this currency was pegged at 100 CFA for each French franc. After France joined the Euro Zone at a fixed rate of 6.65957 French francs to one Euro, the CFA rate to the Euro was fixed at ...

The Nigeria Country Representative of The Banker Magazine Kunle Ogedengbe said the magazine noted in its 2011 January Edition, which will also be distributed at the World Economic Forum, Davos, Switzerland, that during Sanusi’s tenure he implemented reforms that have put Africa's most promising market back on the map for investors globally.

The Editor of the magazine, Brian Caplen noted that few candidate names can generate an overall consensus on judging panels and yet, when it came to finding the best global central bank governor of the year, Sanusi was chosen unanimously.

Caplen stressed that Sanusi embarked on a radical anti-corruption campaign ...