Marriott International, Inc has announced further expansion in Algeria with the opening of its seventh hotel in Algeria, Sheraton Annaba. The company already operates six hotels in Algeria including Constantine Marriott Hotel, Renaissance Tlemcen Hotel, Sheraton Club des Pins, Sheraton Oran, Le Meridien Oran and Four Points by Sheraton Oran amounting to 1580 rooms. With another six hotels under development the company is set to double its footprint in the country. Owned by Société d’Investissement Hôtelière, the imposing and welcoming Sheraton Annaba is conveniently located within easy access from the airport and the city’s most charming attractions. With its iconic…
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A new data by Statistics Botswana has revealed that for the past two years aircraft movements have been declining in the country. The agency’s Botswana transport & infrastructure, statistics report 2015 noted that aircraft movements declined by 10.6% in 2015 from 83,285 movements recorded in 2014 to 74,472 recorded in 2015. However, despite the decline in total aircraft movements, international aircraft movements have increased by 0.2% in 2015 when compared to 2014. “International Scheduled and Private aircraft movements increased while International Non-scheduled aircraft movements declined by 6.9%,” Statistics Botswana revealed. “With regard to Domestic aircraft movements, scheduled aircraft movements declined…
Peregrine Diamonds Ltd, the TSX listed diamond exploration and development company with assets located in northern Canada and Botswana, has announced the appointment of Chantal Gosselin to its board and updates to its senior management team. Gosselin has more than 24 years of combined experience in the mining industry and capital markets. She most recently held the position of Vice President and Portfolio Manager at Goodman Investment Counsel. Previously, she served as a senior mining analyst at Sun Valley Gold LLP, a precious metals focused hedge fund, the senior mining analyst and partner of Genuity Capital Markets and held positions…
Polished diamond prices softened in December as Indian liquidity dried up due to the government’s demonetisation policy eliminating 500 and 1,000 rupee notes. Trading slowed with dealers taking vacation during the holiday period. The RapNet Diamond Index (RAPI™) for 1-carat, RapSpec A3+ diamonds fell 1.3% in December. RAPI for 0.30-carat diamonds edged up 0.2%, while RAPI for 0.50-carat stones fell 2.2%. RAPI for 3-carat diamonds slid 1%. According to the Rapaport Monthly Report – January 2017, sentiment improved despite the slowdown as U.S. consumer confidence rose. Record equity prices and the Federal Reserve’s decision to raise interest rates signal an…
The volume of electricity generated locally increased in the last quarter of the year as local power stations continue to improve in performance. Statistics Botswana’s Electricity generation and distribution stats brief of third quarter of 2016 showed that in comparison to the Index of Electricity Generation during the third quarter of 2016 and the second quarter of the same year reflects an increase of 36.0%, from 115.7 during the second quarter of 2016 to 157.3 during the third quarter of the same year. On the other hand, the index of the physical volume of electricity stood at 157.3 during the…
Alecto Minerals plc said it is buying the Mowana Copper Mine in Botswana and will re-model the operation to ensure that it can produce from a much lower cost base to generate profit even at depressed commodity prices. Under the proposed dead, the AIM-listed and Africa-focused gold and base metal exploration and development company, plans to acquire a 60% interest in Cradle Arc Investments, the owners of Mowana, a former producing copper mine, and plant which can be brought back into production at a relatively low cost. Cradle is a holding company which currently owns 100% of the Mowana copper…
Airports are placing a higher priority on IT investments for passenger and airport security with 50% rating it a high priority, up from 37% last year. This is according to the 2016 Airport IT Trends Survey, the extensive annual study of IT trends within the global airport industry co-sponsored by SITA and Airports Council International (ACI), in association with Airline Business. For many airports, the investment focus has shifted to security in the wake of heightened regional tensions, some of which directly target air travel. While investment in passenger processing technology still ranks the number one priority for airports, it…
Tlou Energy Limited, the AIM and ASX listed company focused on delivering power in Botswana and southern Africa through the development of coal bed methane (CBM), said Anthony Gilby, who has been on extended leave due to illness, is returning to the Board in a full-time capacity effective 1 January 2017. According to the company, Gilby will return to his original position of Managing Director. During his leave, Gabaake Gabaake held the role of Acting Managing Director. Gabaake will continue in the position of Executive Director which he held prior to taking on the role of Acting Managing Director. “……
The mining sector in Southern Africa continues to reel from the collapse in commodity prices in mid-2014, which has caused many projects across the continent to stall. Companies also have been reluctant to build new projects, and the latest report from PricewaterhouseCoopers estimates that the mining sector in this region has suffered $4.2 billion (R60 billion) worth of impairments. In total, the mining industry has decreased by about 30% over the past three years, and while commodity prices have increased in recent months, experts predict that the industry is likely to still see substantial volatility and slow growth in 2017.…
The Index of Mining Production stood at 74.4 in the third quarter of 2016 showing a 13.4% year-on-year improvement from 65.6 during the third quarter of 2015, Statistics Botswana has said. However, the stats agency noted that compared to the second quarter of 2016, the Index of Mining Production shows a decrease of 13.5% from the index of 86.0 during the second quarter of 2016 to 74.4 during the third quarter of the same year. It added that the quarter-on-quarter changes in the index of mining production reflect fluctuating mining production series, owing to unstable economic environment in the world…