PETROFAC EXTENDS FORBEARANCE AGREEMENTThe Group announces that it has extended its existing forbearance agreement in respect of the non-payment of the interest coupon on its senior secured notes from 18 October to 15 November 2024. The forbearance agreement is entered into by an ad hoc group of noteholders representing approximately 47% of the outstanding senior secured notes and certain other acceding noteholders. The Company aims to announce a lock-up agreement with final terms in the coming weeks. The attention of investors is drawn to the Company’s previous market announcements for additional information surrounding the proposed financial restructure. Our purpose is to enable our clients to meet the world's evolving energy needs.

The sweeping elimination of tariffs is expected to significantly lower the cost barriers for African goods entering the Chinese market and enhance their overall price competitiveness, thus allowing African exporters to more effectively leverage the vast opportunities of the Chinese consumer market, experts said. In particular, the two sides have agreed to expand market access for African agricultural products, and deepen collaboration in e-commerce. China's imports of agricultural items from Africa have seen a sustained increase, with the value of such imports rising for the seventh consecutive year, Customs data show. This growth rate outpaced the overall increase in China's agricultural imports, according to the General Administration of Customs. The rapid growth of cross-border e-commerce platforms is opening up new sales channels for African agricultural products seeking to enter the Chinese market, Ye said.

New Zealand wins cricket’s Women’s T20 World Cup for 1st time with 32-run victory over South Africa Oct 20, 2024 | 11:25 AMDUBAI, United Arab Emirates (AP) — New Zealand won the Women’s T20 World Cup for the first time, beating South Africa by 32 runs on Sunday. South Africa was held to 126-9 in 20 overs at the Dubai International Cricket Stadium in reply to New Zealand’s 158-5 in the final of the 18-day tournament. South Africa was also seeking to become a first-time champion. ___AP cricket: https://apnews.com/hub/cricketThe Associated Press

North Korea is apparently sending 10,000 troops to assist in the Russian invasion of Ukraine, as per Bloomberg, and last week, Russian missiles hit a cargo vessel in Odesa, the fourth such attack this month (including one that reportedly killed a Ukrainian national). None of this seemed even remotely likely three years ago, when the oil price also stood at close to US$70 and the world was a much more peaceful place. Markets seem to be ruling out any Israeli attacks on Iranian oil facilities, or that the Iranians will attempt to close the Straits of Hormuz, however. This may yet prove wishful thinking, as the last four years have shown how, in the words of famed baseball player Yogi Berra, “it's tough to make predictions, especially about the future.”What lessons can we learn?

Copy LinkAlgeria and Tunisia have confirmed a tripartite summit with Libya will be held in Tripoli in the near future. Mr Attaf said the countries were committed to “implementing the decisions and recommendations” made at the previous summit in Tunis in April. This summit is the latest indication of a thaw in relations between the North African neighbours. The summit is also an opportunity for the three countries to discuss economic cooperation. Despite the challenges, the summit is a positive step towards greater cooperation in North Africa.

“He was angry about nations not spending enough money on their own security, on their ability to defend themselves, which is Article 3. For decades, many nations have neglected this duty, believing that the United States would save them.”Did what he askedNow it is a different situation. Last year, the US Congress approved a legislation that prevents any president from withdrawing the US from NATO without Senate approval or an act of Congress. Of course, Europe must be able to do more with deterrence and defense and invest in capabilities that currently only the United States has, says admiral Robert Bauer. If he returns to the Arctic Circle Assembly in Iceland next year, it will be as a civilian.

Yet, according to the Africa Data Centres Association, Africa alone needs 1000MW and 700 facilities to meet growing demand. Because data centres need power to stay operational 24x7x365, reliance on onsite back-up generation is often the expensive norm. Matone Ditlhake, CEO Corridor AfricaModular data centres and free coolingModular data centres are another key strategy in addressing infrastructure challenges. Data centres utilising advanced SSDs can manage large volumes of transactions and queries swiftly, making real-time analytics and decision-making possible. Secure data storage systems help safeguard against unauthorised access, helping ensure that customer and business data stays confidential and intact.

Around 200 people have fallen ill due to food poisoning after consuming snacks during an obituary function of a deceased in Assam’s Golaghat district, officials said on Sunday. According to an official, the guests were served with traditional ‘jalpan’ (snacks with puffed rice and cream) during the function. “The condition of the victims is stated to be stable and many are being released after treatment,” the official said. “The district administration informed me that the food inspector will visit the village and investigate the cause of the food poisoning,” he added. “We have also sent medical teams to the individual houses of all the people, who had come to the function.

She was cogent, spirited, articulate and self-assertive, and she was duly applauded by her assembly. This what old man Julius Nyerere used to refer to as the “smoking breaks” which delegates used to take after Tanzanian delegations started to sound empty and irrelevant. They will also learn in good time that she taught law at the prestigious Dar es Salaam university before she ventured into politics. When a member of parliament can be silenced when he wants to debate the spate of disappearances, abductions and killings in the country, one should know the House has been muted. It is unconscionable to want to run with the hares in Geneva while hunting with the hounds in Dodoma.

In Uganda, for example, there was a mindset shift, with many more people prioritising saving before consumption. Many businesses that left the city under lockdown never went back when the lockdown was lifted. They built their own premises in the suburbs without borrowing and never returned to the rented ones in town. They also got some unintended gains, like the unfortunate windfall insurance companies made when millions of elderly pensioners died. So, what increased wisdom do African governments have to show five years since the pandemic hit?

The draw placed Masar FC in a tough Group alongside defending champions Mamelodi Sundowns of South Africa. Masar FC qualified for the CAF Women’s Champions League North Africa qualifying rounds after winning the 2023-2024 Egyptian Women’s Premier League. The first edition of the tournament took place in Egypt in 2021, with Mamelodi Sundowns claiming the title. Masar FC has been on an impressive streak in recent years, winning the Egypt Cup in the 2022-2023 season, followed by a domestic double of the league and cup in 2023-2024. The full group stage draw is as follows:Group A: AS FAR – Eagles of the City – TP Mazembe – University of Western CapeGroup B: Mamelodi Sundowns – Masar FC – Commercial Bank – Eido QueensThe CAF Women’s Champions League will take place in Morocco from November 9 to 23, 2024.

SLB Reports Strong Third-Quarter Results Amid Evolving Market ConditionsSLB has announced its third-quarter results (3q24), achieving a notable revenue of $9.16 billion, a 10% increase year-on-year, despite a cautious macroeconomic environment. Net income attributable to SLB, excluding charges and credits, rose 13% to $1.27 billion in the three months ending September 30. The company reported a 4% sequential increase in Digital & Integration revenue, with its digital business growing by 7% sequentially and 25% year-on-year. The company anticipates delivering strong cash flows and maintaining an adjusted EBITDA margin of 25.6%, a 55-basis point sequential increase. SLB has recorded Cash flow from operations at $2.45 billion, with free cash flow reaching $1.81 billion.

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KYIV, Ukraine — A video purporting to show dozens of North Korean recruits lining up to collect Russian military fatigues has been released by Ukrainian officials, who say it shows the introduction of troops sent by Pyongyang into the conflict. The video, published by Ukraine’s Center for Strategic Communications and Information Security, which operates under the Culture and Information Ministry, allegedly shows North Korean soldiers standing in line to pick up bags, clothes and other apparel from Russian servicemen. “The video clearly shows North Korean citizens being given Russian uniforms under the direction of the Russian military,” he said. “For Ukraine, this video is important because it is the first video evidence that shows North Korea participating in the war on the side of Russia. It comes after the head of Ukrainian military intelligence, Kyrylo Budanov, claimed in local media that about 11,000 North Korean infantrymen were currently training in eastern Russia.

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