Hungary Plans to Sell Yen-Denominated Government Debt, Napi Gazdasag Says

(Bloomberg) -- Hungary's government registered its
intent to sell 400 billion yen ($3.3 billion) of debt over the next
two years, Napi Gazdasag reported, citing Japan's Finance Ministry.

(Napi Gazdasag 7-18, 2)
To contact the reporter on this story:
Balazs Penz in Budapest at
bpenz@bloomberg.net .


Read more at Bloomberg Currencies News

Gold up as euro hits record high, awaits Bernanke

(Reuters) - Gold gained on Wednesday as the dollar tumbled to a record low against the euro, but dealers are cautious ahead of a testimony by U.S. Federal Reserve Chairman Ben Bernanke.

Silver and platinum also rose. Tokyo gold futures rebounded to track a firm cash market, while the newly launched "mini" gold contracts saw a decline in turnover.


Read more at Reuters Africa

SEC Chairman Cox to Recommend New Federal Rules for Municipal Disclosure

(Bloomberg) -- U.S. Securities and Exchange
Commission Chairman Christopher Cox will recommend that Congress
consider imposing new federal rules to govern disclosures from
municipal borrowers, a spokesman for the agency said.

Cox, in a speech he is to deliver today, will also call for
independent funding for the Governmental Accounting Standards
Board, the group that sets accounting standards for states and
municipalities, according to SEC spokesman John Nester.


Read more at Bloomberg Bonds News

Alfa, Champion, Intel, 3Com, RLI, Spirit, TriQuint: U.S. Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may have unusual price changes in U.S. exchanges
today. This preview includes news that broke after exchanges
closed yesterday. Stock symbols are in parentheses after company
names.

Alfa Corp. (ALFA US): The U.S. insurer received a $17.60-a-
share offer from its majority shareholders to be taken private.
The offer is $2.40, or 16 percent, above the company's closing
price yesterday of $15.20.


Read more at Bloomberg Stocks News

Alcoa, Verizon Push Dow Index Close to 14,000, Helped by Mergers, Buybacks

(Bloomberg) -- Buyouts and buybacks have the Dow
Jones Industrial Average flirting with 14,000 for the first
time, and may drive the 111-year-old measure higher.

Alcoa Inc. and Verizon Communications Inc., each the
subject of takeover speculation, have surged since the Dow
average surpassed 13,000 on April 25. General Electric Co.
accelerated the gain after doubling its share-buyback plan,
adding to the fastest rate of stock repurchases.


Read more at Bloomberg Stocks News

Oil firms, awaiting crude stock dip, fuel build

(Reuters) - London Brent crude for September, seen as a better benchmark of oil prices at the moment, rose 15 cents to $75.68 a barrel after it fell 76 cents a day ago from Monday's $78.40 peak, near last August's record high.




U.S. light crude for August delivery rose 14 cents to $74.16 a barrel, erasing Tuesday's losses.


Read more at Reuters.com Hot Stocks News

TREASURIES-Climb in Asia on Bear Stearns fund woes

(Reuters) - "Treasuries are rising on flight-to-quality buying," said
Yasutoshi Nagai, a senior economist at Daiwa Securities SMBC who
follows the U.S. economy.




Bear Stearns Cos. Inc said in a letter to investors
on Tuesday that it would provide up to $3.2 billion in financing
for its High-Grade Structured Credit Strategies Fund. A copy of
the letter was obtained by Reuters.


Read more at Reuters.com Bonds News

UPDATE 1-BOJ minutes: Japan to expand, US soft landing seen

(Reuters) - The board members agreed it was appropriate to maintain its
stance that it will make gradual adjustments in interest rates in
accordance with improvements in Japan's economy and price
conditions.




Many members said the central bank should promote deeper
understanding among market participants and the public of the
framework of its forward-looking monetary policy.


Read more at Reuters.com Bonds News

Obama, Clinton slam court on abortion ruling

(Reuters) - Obama and Democratic White House rival Hillary Clinton, making separate appearances at a conference of abortion rights activists, pointed with pride to their Senate votes against the confirmation of Supreme Court Chief Justice John Roberts and Justice Samuel Alito.




The two leading Democrats in the 2008 presidential race courted women activists at the conference and said President George W. Bush was taking direct aim at overturning the landmark 1973 Roe v. Wade ruling legalizing abortion.


Read more at Reuters.com Bonds News

Dollar falls to 26-year low vs sterling

(Reuters) - The data bolstered expectations that interest rates in Britain -- already the highest among Group of Seven industrialized nations at 5.75 percent -- could climb beyond 6 percent by the end of the year.




"It might be more or less factored in, but it looks like interest rates are headed higher in Europe," said a trader for a major Japanese trading house.


Read more at Reuters.com Hot Stocks News

Sugar Futures Increase as Higher Crude Oil Price May Boost Ethanol Demand

(Bloomberg) -- Sugar rose in New York on speculation
that higher energy prices may spur demand for ethanol, an
alternative fuel made from cane in Brazil.

Crude oil reached an 11-month high earlier today and has
increased 22 percent this year. Mills in Brazil's center-south
region, the source of 85 percent of the country's sugar cane,
produced more ethanol and less of the sweetener this season as of
July 1 compared with the previous year, the Center South Sugar
and Ethanol Industry Association, known as Unica, said last week.


Read more at Bloomberg Commodities News

Yen, Thai Baht, Indian Rupee, Singapore Dollar: Asian Currencies Preview

(Bloomberg) -- The following events and economic
reports may influence trading in Asian currencies today.

Exchange rates are from the previous session.


Read more at Bloomberg Currencies News

BHP, Conquest, Kimberley, Telstra, Woodside: Australian Equity Preview

(Bloomberg) -- The following is a list of companies
whose shares may rise or fall in Australia. This preview includes
news announced after markets closed yesterday. Prices are from
yesterday's close unless otherwise stated. Stock symbols are in
brackets after the company names.

The S&P/ASX 200 Index futures contract due in September lost
0.2 percent to 6376 at 6:59 a.m. in Sydney. The Bank of New York
Australia ADR Index declined 0.3 percent in New York.


Read more at Bloomberg Stocks News

Alitalia auction on the brink as Air One pulls out

(Reuters) - The departure of domestic carrier Air One leaves only U.S. fund MatlinPatterson -- which has been tagged as lifeless by a minister -- and raises questions on whether a different procedure for the crucial sale is needed.




"The privatisation has basically failed given that the only credible suitor has withdrawn," said Mauro Rossi, head of one of Alitalia's major unions FILT-CGIL.


Read more at Reuters.com Business News

Intel says lower costs will help margins

(Reuters) - Bryant was explaining the company's reasoning behind its
forecast earlier on Tuesday that gross margin for its fiscal
third quarter would be 52 percent, compared to 46.9 percent in
the second quarter.




Read more at Reuters.com Market News

Retailer Lululemon resets IPO at 18.2 mln shrs

(Reuters) - According to its filing with the U.S. Securities and
Exchange Commission, it still expects the shares to price
between $10 and $12 each.




Goldman Sachs and Merrill Lynch are the lead underwriters
for the IPO by the Canadian company.


Read more at Reuters.com Government Filings News

Canada dollar dips in listless session, bonds drop

(Reuters) - Domestic bonds prices, with no Canadian data to consider,
turned lower along with the bigger U.S. treasuries market.




The Canadian dollar closed at C$1.0434 to the U.S. dollar,
or 95.84 U.S. cents, down from C$1.0428 to the U.S. dollar, or
95.89 U.S. cents, at Monday's session close.


Read more at Reuters.com Bonds News

Hog Futures Rally Most in 8 Months on Export Prospects; Cattle Prices Gain

(Bloomberg) -- Hog futures in Chicago rallied the
most in eight months on speculation that Mexico and Russia may
buy U.S. pork before purchases by China drive up prices. Cattle
also rose.

China may buy more U.S. pork after ``blue-ear'' disease
forced farmers to cull some herds. Mexico, the second-largest
buyer of U.S. pork behind Japan, has bought 30 percent less than
a year earlier, the U.S. Department of Agriculture said July 12.
Exports to Russia, the fifth-largest importer, are 25 percent
behind last year's pace, the USDA said.


Read more at Bloomberg Commodities News

FDA to review for Bristol's Abilify for depression

(Reuters) - With priority review status, the U.S. Food and Drug
Administration will make its decision on whether to approve the
drug for the new use within six months, rather than the usual
10- to 12-month review period.




The agency grants priority review to products that are
considered to be potentially significant therapeutic
advancements over existing therapies.


Read more at Reuters.com Government Filings News

RLPC-Price talk widens on Chrysler buyout financing

(Reuters) - The $10 billion first-lien loan is now talked in the 375
basis points over Libor range, up from 325 basis points over
Libor. Meanwhile, pricing on the $2 billion second-lien loan
has been widened to 700 basis points over Libor from original
talk of 600 basis points over Libor. The loan, which was
originally being sold at 100 cents to the dollar, is now
expected to clear at a discount.




Read more at Reuters.com Bonds News

UPDATE 3-Plains to buy Pogo for $3.44 bln, create an MLP

(Reuters) - HOUSTON, July 17 - Independent oil and gas
producer Plains Exploration & Production Co. plans to
buy peer Pogo Producing Co. for about $3.44 billion in
stock and cash, in a deal aimed at wringing more value from
production assets, Plains said on Tuesday.




Hedge fund Third Point LLC took a stake in Pogo last year
and demanded that the company put itself up for sale.


Read more at Reuters.com Market News

Applied Materials eyes growth in services business

(Reuters) - SAN FRANCISCO, July 17 - Applied Materials Inc. said on Tuesday the company sees opportunity to expand services to semiconductor production plant owners over the next several years as one way out of the industry's current slump.



In addition, executives of the world's top maker of semiconductor manufacturing tools described moves to step up solar tools production and its participation in a new investment in coated, energy-saving window glass. Applied shares rose 6.4 percent to $21.94 following evidence from competitors Novellus Systems Inc. and KLA Tencor Corp. that orders may be stabilizing after a drop in memory chip bookings, the biggest chunk of the business. Stock prices across the semiconductor industry gained, led by Novellus, up 11 percent, and KLA, up 9 percent.


Read more at Reuters.com Mergers News

UPDATE 1-Mexico's 28-day Cetes yield rises to 7.19 pct

(Reuters) - Longer-term Cetes yields were mixed at the central bank's
weekly auction. The bank auctioned the 20-year peso bond at a
yield of 7.68 percent, up 12 basis points from the last time it
was sold on June 5.




Mexico's central bank is expected to leave its key rate at
7.25 percent at its monthly monetary policy decision on July
27.


Read more at Reuters.com Bonds News

Iran's Oil Minister Says There's No Need to Call Emergency OPEC Meeting

(Bloomberg) -- Iran, the second-largest producer in
the Organization of Petroleum Exporting Countries, said there's
no need for OPEC to hold an emergency meeting because markets
are well-supplied.

``There is no shortage in the world markets of oil and
there is no need for OPEC to hold an emergency meeting,''
Iranian Oil Minister Kazem Vaziri-Hamaneh told the country's oil
ministry press agency Shana today.


Read more at Bloomberg Energy News

German 2008 Power Increases as Carbon Dioxide Emission Permit Costs Gain

(Bloomberg) -- German power for delivery next year
rose for the first time in five days as carbon-emissions costs
rebounded from an 11-week low.

Next-year baseload power prices in Germany, Europe's
biggest electricity market, gained 1 percent to 55.25 euros
($76.16) a megawatt-hour at 5:43 p.m. Berlin time, according to
broker GFI Group Inc. The contract earlier fell as much as 0.3
percent. Baseload is electricity delivered around the clock.


Read more at Bloomberg Energy News

Motorola reshuffles its business units

(Reuters) - The deal would add 17 cents to 20 cents a share to earnings for the 12 months following completion, Psychiatric Solutions said in a statement. Psychiatric Solutions will pay Horizon stockholders $20 in cash for each Horizon share, and assume about $105 million of debt.






Read more at Reuters.com Market News

Soybeans Plunge as Rains Expected to Boost Crop Prospects in U.S. Midwest

(Bloomberg) -- Soybeans plunged to a two-week low
in Chicago, heading for the biggest two-day drop in two years,
as rains in the Midwest improved prospects for the U.S. crop.

Some fields from Iowa to Ohio may receive as much as 2
inches (5 centimeters) of rain in the next four days, said Mike
Tannura, meteorologist for T-Storm Weather in Champaign,
Illinois. Farms from Minnesota to Illinois got as much as 3
inches since yesterday, the National Weather Service said.


Read more at Bloomberg Commodities News

Mexico's Peso Strengthens Against Dollar as Price of Crude Oil Advances

(Bloomberg) -- Mexico's peso rose against the
dollar amid a surge in the price of oil, the biggest source of
government revenue.

Mexico's peso rose 0.2 percent to 10.7596 per dollar at
11:50 a.m. New York time. The peso was the second-best performer
against the dollar among the 16 most-actively traded currencies
after the British pound.


Read more at Bloomberg Currencies News

Crude Oil Is Little Changed Amid Signs U.S. Gasoline Inventories Climbed

(Bloomberg) -- Crude oil was little changed,
retreating from an 11-month high in New York, on speculation
that U.S. gasoline inventories will rise as refineries increase
output.

Gasoline prices in New York have plunged 12 percent in the
past five days. The oil market often follows gasoline during the
summer months, when motor-fuel demand peaks. A government report
tomorrow may show that U.S. oil supplies fell last week as
refineries increased production.


Read more at Bloomberg Commodities News

Key Democrat questions Fed inflation targets

(Reuters) - Fed Chairman Ben Bernanke is due to deliver semi-annual
monetary policy testimony to Massachusetts Democrat's panel on
Wednesday. The Fed is debating ways to improve its
communications with markets and the public about monetary
policy, including whether to set numerical inflation targets.




Bernanke is expected to say on Wednesday that the U.S.
central bank's predominant current concern is ensuring
inflation remains convincingly low and that problems in the
housing market are not likely to seriously damage the economy.


Read more at Reuters.com Bonds News

Nautilus shares slump on weak quarter, outlook

(Reuters) - The company said its direct and retail businesses were hurt by softer-than-expected consumer spending in North America, which some analysts believed was due to a weaker housing market and rising gasoline prices.




The company also forecast second-half results short of analysts' expectations.


Read more at Reuters.com Hot Stocks News

European Bonds Fall on Speculation Global Growth to Prompt Rising Rates

(Bloomberg) -- European bonds fell on speculation
global economic growth is fast enough to prompt the European
Central Bank to increase interest rates this year.

ECB council member Nicholas Garganas said higher rates are
``warranted.'' Ten-year bunds snapped two-days of gains after
U.S. reports showed factory output rose the most since February
and prices paid to producers excluding food and fuel climbed
more than forecast. Federal Reserve Chairman Ben S. Bernanke may
reiterate tomorrow that the bank is seeking to curb inflation.


Read more at Bloomberg Bonds News

Sallie Mae net up as derivatives value increases

(Reuters) - NEW YORK, July 17 - Student loan company Sallie Mae, whose proposed buyers are now threatening to call off their purchase, said on Tuesday that second-quarter earnings rose 33 percent, helped by increases in the value of some of its derivatives.



Sallie Mae, known legally as SLM Corp. , said net income rose to $966 million from $724 million a year earlier.


Read more at Reuters.com Mergers News

Nymex Gas Rise, Following Oil Higher, as Hot Weather Lingers in Midwest,

(Bloomberg) -- Natural gas futures rose in New York
as hot weather lingered in parts of the Midwest, boosting demand
for electricity to power air conditioners and crude oil surged.

St. Louis will have daytime highs of about 94 degrees
Fahrenheit (34 Celsius) today and 96 tomorrow, MDA Federal Inc.'s
Earthsat Energy Weather said in a report. Cincinnati will hit 90
degrees today, the Rockville, Maryland-based forecaster said.


Read more at Bloomberg Energy News

TREASURIES-Bonds slip on PPI jump, stubborn Wall St

(Reuters) - NEW YORK, July 17 - U.S. Treasury debt prices
fell on Monday as producer prices rose more than forecast and
stronger earnings raised the possibility of a firmer open on
Wall Street .




Wholesale inflation outside food and energy, tracked by the
Federal Reserve, surged 0.3 percent in June. This brought
year-on-year price gains to 1.8 percent from 1.6 percent, and
should keep policy-makers on edge about lower interest rates.


Read more at Reuters.com Bonds News

U.S. Bancorp 2nd-qtr profit misses forecasts

(Reuters) - NEW YORK, July 17 - U.S. Bancorp , the sixth-largest U.S. bank, posted a bigger-than-expected drop in profit on Tuesday as lower lending income and rising expenses and credit losses more than offset an increase in fees.



Second-quarter net income for the Minneapolis-based company fell to $1.16 billion, or 65 cents per share, from $1.2 billion, or 66 cents, a year earlier. Revenue rose 1.5 percent to $3.51 billion.


Read more at Reuters.com Bonds News

Cleveland BioLabs submits added info on Protectan compounds

(Reuters) - Cleveland BioLabs also submitted its Protectan CBLB612 to
the National Institute of Allergy and Infectious Diseases, it
added.





Read more at Reuters.com Government Filings News

UPDATE 1-Encysive retains Morgan Stanley to review options

(Reuters) - Shares of the company on Tuesday rose almost 12 percent to
$1.89 in morning trade on the Nasdaq.




On June 25, Houston-based Encysive terminated about 150
employees, including the U.S. sales force, and named Chief
Operating Officer George Cole to replace Chief Executive Bruce
Given. The company also said it would take a related $15
million charge in 2007.


Read more at Reuters.com Mergers News

Schwab quarterly profit increases 16 percent

(Reuters) - Net revenue was $1.2 billion, up from $1.1 billion a year earlier and slightly higher than analysts had expected.




Total client assets reached $1.38 trillion at the end of June.


Read more at Reuters.com Market News

Uganda says investments almost triple in 2006/07

(Reuters) - Uganda said on Tuesday direct foreign and local investments almost tripled to $2.18 billion during the 2006/07 fiscal year partly due to growth in the hospitality sector ahead of a Commonwealth summit this year.

The east African country received $758 million in investments over the same period in the previous year.


Read more at Reuters Africa

Rebel investor seeks to turn up heat on Vodafone

(Reuters) - "At last Vodafone seems to have recognized that it must have a coherent strategy for its investment in Verizon Wireless," ECS Chairman Glenn Cooper said in a statement.




"The ill-conceived plans leaked to the Financial Times show Vodafone does not have one."


Read more at Reuters.com Mergers News

Cortex gets OK to resume enrollment for Ampakine trials

(Reuters) - The study of Ampakine CX717, which was originally designed
with doses of 200mg, 600mg and 1200mg, was placed on hold by
the U.S. Food and Drug Administration due to concerns over some
preclinical animal data.





Read more at Reuters.com Government Filings News

Cenveo to buy envelop-maker Commercial Envelope

(Reuters) - Cenveo said the acquisition of Commercial Envelope with
revenue of $160 million was expected to add to its earnings.





Read more at Reuters.com Mergers News

FACTBOX-Bond, share sales delayed by volatile markets =2

(Reuters) - The privately held snowmobile and sports boat manufacturer
postponed a $1.12 billion term loan, sources told Reuters Loan
Pricing Corp. [ID:nN29421190]




ORECK CORP.


Read more at Reuters.com Bonds News

Crude Oil Rises to 11-Month High on Signs U.S. Refinery Demand Is Rising

(Bloomberg) -- Crude oil rose to an 11-month high in
New York on higher demand after OPEC ministers said the group
should maintain its restrictions on production.

The Organization of Petroleum Exporting Countries yesterday
raised a forecast for demand for its crude by 100,000 barrels to
31.1 million barrels a day in the fourth quarter. The U.S. Energy
Department will probably report tomorrow that crude-oil supplies
fell 700,000 barrels in the week to July 13, according to analysts
surveyed by Bloomberg News.


Read more at Bloomberg Energy News

Miceli Resignation Amid Cash Probe May Hurt Kirchner in Argentine Election

(Bloomberg) -- Argentine Economy Minister Felisa
Miceli's resignation, sparked by a probe of cash found in her
ministry office, may further erode the government's popularity
less than four months before national elections.

Miceli, 54, said last night she left President Nestor
Kirchner's government to avoid tarnishing its image and to
``clarify'' her situation. Yesterday, a prosecutor sought to
question her about $31,000 in U.S. currency and 100,000 pesos
($32,300) discovered last month in a bag in her office bathroom.
She was replaced by Industry Secretary Miguel Peirano, 40.


Read more at Bloomberg Emerging Markets News

S.Africa maize nudges up on fresh crop worries

(Reuters) - South Africa's benchmark maize contracts slipped on Tuesday in line with the U.S. market, but fresh worries about the local crop helped prices recover.

July white maize closed three rand lower at 1,675 rand a tonne, after falling to an intraday low of 1,645 rand. December white skidded to 1,714 before closing flat at 1,748 rand.


Read more at Reuters Africa

Futures hint at Wall St fall, inflation data due

(Reuters) - Among earnings reports due later on Tuesday are Merrill Lynch & Co. , SLM Corp. , U.S. Bancorp and Wells Fargo .




Year-to-date, financial stocks are the worst performers of the ten major S&P industry groups and the sole sector with losses for that period.


Read more at Reuters.com Business News

Barclays "confident" of winning ABN bid battle

(Reuters) - Seegers declined to comment on a revised bid from a consortium led by Royal Bank of Scotland announced on Monday, which includes more cash.




Earlier on Tuesday, the Financial Times said that Barclays is planning to sweeten its offer for ABN after the consortium of RBS, Spain's Santander and Belgian-Dutch group Fortis raised the cash portion of its bid to 93 percent from 79 percent, valuing ABN at 71.1 billion euros.


Read more at Reuters.com Market News

DRDGOLD lifts resources by 150 pct at S.African mine

(Reuters) - South African gold miner DRDGOLD said on Tuesday it had seen a 150 percent increase in total resources at its East Rand Proprietary Mines Limited (ERPM) operation at Boksburg.

The increase, to 41.37 million ounces from 16.58 million ounces at 30 June 2006, the company said in a statement.


Read more at Reuters Africa

Arcandor says Q2 development according to plan

(Reuters) - The company said its department stores' profit in the second
quarter was "slightly better" than in the second quarter a year
earlier.




Read more at Reuters.com Market News

U.K. Electricity Rises, Boosting Profit Margins for Gas-Fired Power Plants

(Bloomberg) -- U.K. electricity for delivery a day
ahead gained, boosting profit for operators of plants that burn
natural gas, the fuel for about 40 percent of Britain's power
generation.

Baseload electricity for next-day delivery rose as much as
4.2 percent to 28.65 pounds ($58.50) a megawatt-hour, according
to prices on Bloomberg from the energy broker Spectron Group
Plc. It traded at 28 pounds a megawatt hour at 8:52 a.m. in
London. Baseload power is delivered around the clock.


Read more at Bloomberg Energy News

Electrolux U.S. strength lifts shares

(Reuters) - Second quarterly core earnings grew in line with market expectations as product delays in Europe were outweighed by U.S. strength. A slowing U.S. market had been a key point of concern ahead of the report.




"This was more positive than expected, mainly in North America, which turned out to be a very positive point, while Europe came in much worse," Danske Equities analyst Michael Andersson said after the results announcement on Tuesday.


Read more at Reuters.com Business News

GLOBAL MARKETS-Stocks, credit and dollar down on subprime woes

(Reuters) - Turmoil in the U.S. subprime market, which caters to
borrowers with poor credit histories and represents around a
fifth of total U.S. annual mortgage lending, has haunted
investors intermittently since early this year.




The latest jitters started after the benchmark ABX subprime
mortgage index, used by investors to hedge subprime mortgage
risks, hit record lows on Monday.


Read more at Reuters.com Economic News

European Emission Permits Fall to 11-Week Low as Traders Swap UN Credits

(Bloomberg) -- European Union carbon dioxide
permits fell to their lowest in 11 weeks, as traders exchanged
them for cheaper United Nations credits.

Permits for December 2008 fell 43 cents, or 2.3 percent, to
18.45 euros ($25.43) a metric ton on the European Climate
Exchange in Amsterdam at 9:33 a.m. local time, after falling to
18.40 euros, their lowest since April 30.


Read more at Bloomberg Energy News

Hoganas Q2 pretax just below consensus

(Reuters) - Hoganas said net sales rose to 1.52 billion crowns from 1.31
billion crowns a year ago, above the 1.43 billion seen by
analysts, and repeated it expected to achieve "sustained
positive volume growth" this year.




Read more at Reuters.com Market News

Rand in tight range, looks to US data

(Reuters) - South Africa's rand held in a tight range versus the dollar on Tuesday, and dealers said direction was likely to hinge on the release of U.S. data later in the session.

At 0630 GMT, the rand stood at 6.9775 versus the dollar, little changed from its New York close of 6.9750 on Monday.


Read more at Reuters Africa