The Bank of Mozambique has appointed, effective Monday, Zaitina Raul Chilaule, a senior manager at the Bank of Mozambique, to inspect Standard Bank, following sanctions imposed recently
Category: Companies
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Kenmare sets record in second quarter ilmenite production
Dublin and London-based Kenmare Resources, which operates the Moma titanium mineral mine off the coast of the northern province of Nampula, announced Wednesday it had set a record for ilmenite production in the second quarter of this year
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EDM posted losses of $42 million in the first quarter of this year
Electricidade de Moçambique (EDM) has been registering power losses for technical reasons linked to the inefficiency of the transmission and distribution infrastructures, and also because of human action with emphasis on meter tampering, customer debts and clandestine connections
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Apple is first US public company worth $2.5 billion
After two turbulent days, Apple has broken the record as the first public company in the United States to reach the $2.5 trillion market capitalization mark
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Standard Bank's suspension from the foreign exchange market is already hurting clients
Standard Bank's suspension from the foreign exchange market is already causing losses for private and corporate clients
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"LAM incidents are not caused by lack of aircraft maintenance"
The airline Linhas Aéreas de Moçambique (LAM) has registered, in the last six months, at least three incidents with its aircraft, one of which was related to a glass delamination in mid-flight
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Tmcel amortizes 200 million in debt to maintain interconnection
Tmcel, the country's state-owned telecommunications operator, must "immediately" pay 200 million meticais to Vodacom, the market leader, to maintain the interconnection between the two, they announced in a statement
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LAM debt remains unsustainable and reaches 230 million dollars
The company Linhas Aéreas de Moçambique (LAM) carries a debt burden estimated at $230 million with different suppliers
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CFM invests 18 billion meticais in infrastructure
The company Portos e Caminhos de Ferro de Moçambique (CFM) foresees investing this year, 18 billion Meticals in rail and port assets linked to the infrastructure, as well as in the increase of rolling stock
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Vodacom and TemCel deadlock over debt of 600 million
There is still no consensus on the debt between the mobile phone networks TmCel and Vodacom. After the last meeting between the parties to discuss the debt valued at 600 million meticais, TmCel committed to pay one third of the amount within 90 days