A new report says that capital flight from sub Saharan Africa reached an astonishing $607 billion between 1970 and 2004 and that total is continuing to the present day to the tune of between $20 billion and $28 billion a year.

The Sixth African-Caribbean-Pacific (ACP) States Summit has resolved to take a second look at Economic Partnership Agreements (EPAs) with the European Union (EU) with a view to making them more inclusive and to foster integration within the Group.

With diminished access to European markets threatening to cost African farmers millions of dollars in lost exports, an international assemblage of banana experts meeting in Kenya last week warned that African growers must move quickly to take advantage of many local and regional opportunities for expanding production and boosting incomes.

Every evening, Barbara Taruvona, the owner of New Styles Hair salon in Harare has to face a queue of her employees at the entrance to her office for their daily cash allowance for transport.

Pirates holding the Ukrainian ship carrying arms cargo are reported to have rejected mediated talks.

September and October are shaping up to be hard months in a precarious year – characterized by a meltdown in financial, credit, and housing markets; the continuing stress of high food and fuel prices and the dangers for poverty and malnutrition; and anxieties about the global economy.

Nigerian businessmen who operate foreign accounts are worried over the continuous backpedaling of the global financial future even as the crisis over the weekend led to the stunning collapse in oil markets sending a barrel of crude plunging below $78.

Amid the controversy and uncertainty that has rocked Kenya's tea industry this year, the sector has fetched its best prices in two-and-a half decades, despite some farmers in parts of the country uprooting the crop because of poor returns.

The banking fraternity is crying foul over what it described as unfair and increasing competition from money transfer operators.

A boom in Uganda's exports to regional and foreign markets has generated significant gains for various sectors in the country.

THE inability of the Senate and the House of Representatives to agree on the final figures in the 2008 Budget Amendment Bill which has been pending before the National Assembly for over three months, may have delayed the submission of the 2008 Supplementary Budget proposed by President Umaru Yar'Adua.

The Action Congress (AC) has called on President Umaru Musa Yar'Adua to direct the anti-corruption agencies, especially the Economic and Financial Crimes Commission (EFCC), to probe the role played by former President Olusegun Obasanjo in the alleged frittering away of $16 billion in the power sector between 1999 and 2007.

A Makerere University economist has called on the Ugandan government to carry out an ICT sector tax reform, which, if implemented, is expected to spur the sector to new growth levels.

Fidelity Bank Plc has declared profit of N13.356 billion for the financial year ended June 30, 2008 .

The Managing Director of the International Monetary Fund (IMF), Mr. Dominique Strauss-Kahn, has said that rich nations have so far failed to restore confidence in the world financial system and warned seriously against the huge implications. "The world financial system is teetering on the brink of systemic meltdown," he warned in Washington.

Nigeria's Customs and Excise Tariff Book for the period 2008-2012 has been presented. According to Dr. Bright Okogu, Director-General, Budget Office of the Federation, the new tariff book is aimed at facilitating trade and industrial growth.

The Chief Executive Officer (CEO) of the Gbankula Cashew Farmers Association in the Bole District, Mr. Adam Tampuri, has warned cashew farmers in the area, to refrain from engaging minors or persons under the age of 18, as farm labourers within the Bole and Sawla-Tuna-Kalba Districts.

The Capital Markets Authority (CMA) has proposed measures to protect the country from the kind of credit crisis currently facing financial markets across the globe.

Teachers have threatened to go on strike if the Government does not conclude negotiations over pay in four days.

The Federal Government had been urged not to allow creation of the Ministry of Niger Delta to distract it from monitoring federal allocation given to states in the region, to ensure they are well utilised.

Nigeria is on the verge of assenting to Article VIII of the International Monetary Fund (IMF) charter to have current account convertibility, Central Bank of Nigeria (CBN) Governor, Prof. Chukwuma Soludo, has said.

President Umaru Musa Yar'Adua may have made good his threat to suspend all export-oriented gas projects.

The World Bank has scored Nigeria high on the implementation of a $120 million Sustainable Management of Mineral Resource Project grant extended to the country three years ago for the resuscitation of its Solid Mineral Sector.

Eleven countries are consulting Nigeria on how to manage the effects of the on-going global financial crisis in their respective countries, the Central Bank of Nigeria Governor, Prof. Chukwuma Soludo has said.

A train accident occurred between Ethiopia and Djibouti, on Sunday, sent several people with non life-threatening injuries, according survivors.

European leaders, yesterday, agreed to guaranty interbank loans across the euro zone countries.

The market fundamentals of the Nigerian capital market are strong with many quoted companies still posting mouthwatering profits.

The International Monetary Fund should have anticipated and acted to address the crisis destabilising global markets, Finance Minister John Michuki said on Saturday at the IMF annual meeting in Washington.

As the global financial crises bites harder across the world, and governments brainstorming on measures to curtail the crises, the survival of two banking giants Morgan Stanley and Goldman Sachs Group Inc., now hands on the intervention of the United States and equity investment by Japan's Mitsubishi UFJ.

This year's G7 summit had a distinctly different tone to last's.