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London court orders Djibouti to restore DP World’s rights over Doraleh port – WAM

A London arbitration court has ordered Djibouti to restore DP World’s right to operate the Doraleh Container Terminal as detailed under a 2006 concession deal within two months or pay damages, the State news agency WAM reported on Tuesday. The government of Djibouti seized the terminal from Dubai government-controlled DP World in February 2018 over a dispute dating back to at least 2012.

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How high can you go? Race to the top for three African cities

What do South Africa, Côte d’Ivoire and Morocco have in common? The three countries spread across south, west and northern Africa are all vying to build the continent’s tallest building. The Leonardo, in Johannesburg’s upmarket Sandton neighborhood, is 234 m high and is the current holder of the prestigious title. Yet not long after it officially opened in October, the skyscraper is expected to be topped by the Mohammed VI Tower in the Moroccan capital of Rabat within the next three years.

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UK property company continues strategic disposal programme

UK real estate investment trust RDI is continuing to progress its strategic disposal programme amid positive letting activity. RDI CEO Mike Watters says the company’s asset management team has delivered a number of letting successes, reflecting the company’s ongoing focus on “maximising the potential” of the company’s core portfolio.

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Ethiopia seeks mediation over Nile dam deadlock with Egypt

Ethiopia’s Prime Minister asked South Africa’s President to intervene in the Nile dam deadlock between Egypt and his country. The three countries and neighboring Sudan are being hosted by the US Treasury for negotiations in Washington on Monday.

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Nigeria unveils $732m broadband project to boost economy

Nigeria plans to invest 265-billion naira ($732-million) in broadband infrastructure over the next four years as the government sets its sights on nationwide coverage and to boost an economy recovering from a 2016 contraction. The government will provide 65-billion naira for the project and six private infrastructure companies the balance under a public-private partnership, according to Umar Danbatta, the CEO of the Nigerian Communications Commission.

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Enel Green Power breaks wind, solar installation record

Renewable energy developer Enel Green Power (EGP) set a new record in 2019 by building about 3 029 MW of new renewables capacity globally. This new capacity was set to generate around 9.3 TWh/y, avoiding the emission of 5.85-million tons of carbon dioxide a year into the atmosphere, contributing to the Enel group’s goal of generating about 57% of its production from renewable sources by 2022.

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Ethiopia warns of last chance to reach agreement on $5bn dam

Ethiopia has warned of a “last chance” to reach an agreement on the filling and operation of the $5-billion dam being built by Addis Ababa (the country’s commercial and cultural hub) on the Nile.  According to Anadolu Agency (AA), Ethiopia, Egypt and Sudan have been in talks on the Grand Ethiopian Renaissance Dam (GERD) since March 2015, when they adopted a Declaration of Principles, including the principle of “no significant harm” on downstream countries. 

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Basil Read considers selling mining business, progresses with rescue plan

The business rescue practitioners of embattled JSE-listed construction company Basil Read on Thursday announced they had appointed an independent sales adviser to value the company’s mining business and adjudicate on potential offers for the business.

This business is one of two the company has, so far, retained during its business rescue proceedings and which continues to be self-sustaining.

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Aveng to consider legal options after Leonardo contract is terminated

Infrastructure and resources company Aveng plans to seek damages from Legacy Group after it moved to terminate Aveng’s contract for the construction of the building, which is Africa’s tallest. The company on Thursday revealed that it had received a notice purporting to terminate the contract for the construction of the building, in Sandton, from Seventy Five on Maude, which is part of Bart Dorrestein’s Legacy Group.

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Group Five business rescue on track

The sales process of the secured subsidiary of embattled construction company Group Five (G5), Everite, is ongoing, the company’s business rescue practitioners (BRPs) – Dave Lake and Peter van den Steen – confirmed on Thursday. The legally separate business rescue process for G5 Construction is also ongoing; however, the BRPs said that “there currently remains no realistic prospect of any financial recovery by the company from the G5 business rescue process”.

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