Egypt's Tharwa finds oil in Eastern Desert
11 March 2010 - Egyptian oil and gas firm Tharwa has discovered oil in the Eastern Desert with a production level of 1,300 barrels per day, an official at the Petroleum Ministry told Reuters on Monday. The discovery is in a concession in the West Esh El Mallaha area west of Hurghada, said the official. (more)

EU to exceed 2020 green energy target: forecasts
11 March 2010 - New forecasts suggest the European Union will exceed its target of getting 20 per cent of its energy from renewable sources in 2020, the European Commission said Thursday. The latest national projections submitted by governments to the EU executive suggest the 27-nation bloc could reach an overall renewable share of 20.3 per cent by the end of the decade. (more)

India aims to be world's fastest growing economy
11 March 2010 - A record rebound in manufacturing, spurred in part by government stimulus, has led India out of the Great Recession faster than many imagined possible. So abundant is the optimism that India's Finance Ministry, led by Pranab Mukherjee -- not a man given to hyperbole -- has made a bold assertion: India could soon overtake China's growth rates. (more)

India: January industrial output seen up 16.65 per cent year to year
11 March 2010 - India's industrial output to rise 16.65 per cent in January from a year earlier, the median forecast in a poll of 20 economists shows. Manufacturing growth is clearly on the upswing propelled by growing economic momentum and aided by stimulus measures and easy credit. Strong consumer durables and capital goods demand are driving up the overall manufacturing numbers. (more)

Indonesia: Organic farming for alternative livelihoods
11 March 2010 - Young unemployed men are finding opportunities in a project that also aims to introduce sustainable farming methods to Indonesia's agricultural sector. Organic farming techniques are taught at the Learning Farm, a half-hectare plot in the green hills of the Puncak area, just a few hours' drive from Jakarta. About 40 per cent of the young men trained at the Learning Farm either go on to start their own organic farms, teach organic farming and environmental education, or are employed by commercial farms. (more)

Latvia: EU pays loan tranche, lauds policies
11 March 2010 - The European Union's executive agreed on Thursday to pay Latvia another tranche of loans under a bailout programme, saying the Baltic country was on track with austerity measures. Analysts and politicians say the worst is over for Latvia and other Baltic republics, which have faced serious economic contractions after the global crisis ended years of high, credit-fuelled growth. (more)

Legal setback for Monsanto in Argentine soy dispute
11 March 2010 - US biotech giant Monsanto's EU patent on its Roundup Ready soybean seeds should not extend to cover imports of processed soybean meal into the 27-nation bloc, an adviser to Europe's top court said. The opinion from Advocate General Paolo Mengozzi must still be confirmed by the European Court of Justice (ECJ) in a final ruling. But it is a setback for Monsanto in its legal battle to secure royalty payments on the use of its seeds. (more)

Mauritius, Seychelles tourism recovery continues
11 March 2010 - Tourist arrival numbers to Mauritius and Seychelles continued to improve through February. Visitor arrivals to Seychelles from 1 January to 7 March were up 14 per cent on the same period last year, official data showed on 10 March. Meanwhile, tourist arrivals to Mauritius during January and February were up 4.9 per cent on last year, with French visitors leading the rebound. (more)

Organizers prepare for 70 million Shanghai Expo visitors
11 March 2010 - Organizers expect 70 million visitors to Shanghai's World Expo, which opens in under two months. The six-month event, with the theme 'Better City, Better Life', is expected to draw an average of 400,000 people a day to see exhibits from 192 countries. Expo organizers said that visitors can expect to see the latest technology from around the world, including China's largest solar rooftop energy system and wind turbines to power buildings at the Expo. More than 1,000 hydrogen and electricity-powered cars will be used for transportation around the Expo site. (more)

South Africa, UK plan to double trade after recession
11 March 2010 - South Africa and the United Kingdom aim to double the value of trade between the two countries over the next five years, Trade and Industry Minister Rob Davies said on 11 March. This would take trade back to where it was before the global recession, he told a media briefing at Parliament, following Cabinet's fortnightly meeting on Wednesday. (more)

Trade surplus, housing data signal recovery - Canada
11 March 2010 - Canada's economy showed more signs of recovery in January as the trade surplus and new home prices continued to climb. Statistics Canada said on 11 March the trade surplus grew more than expected in January to C$799 million ($776 million). Markets had expected a C$100 million surplus. (more)

UAE's Dana makes two gas discoveries in Egypt
11 March 2010 - United Arab Emirates' Dana Gas made two new gas discoveries in Egypt, the company said in a statement on 7 March. The first discovery was at El Panseiya-1 west of the El Manzala concession, which produced 10 million cubic feet per day of dry gas. The second discovery, South Faraskour-1 was also made west of the El Manzala concession. Last year, the company made eight gas discoveries in Egypt from 12 exploration wells. Egypt's holds Africa's third-largest natural gas reserves after Algeria and Nigeria. (more)

US: Slowly, Americans are regaining their lost wealth
11 March 2010 - Americans are recovering their shrunken wealth -- gradually. Household net worth rose last quarter, mainly because the healing economy boosted stock portfolios. The Federal Reserve said Thursday that net worth rose 1.3 per cent in the fourth quarter to $54.2 trillion. It marked the third straight quarter of gains. (more)

Zero tolerance for drugs says Gambia's President
11 March 2010 - Gambia's President said on 9 March he would not let his country become a haven for drug traffickers, many of whom have infiltrated other parts of coastal West Africa. 'I have zero tolerance for criminals. I have double-zero tolerance for drugs,' President Yahya Jammeh said on state television. Gambia, which is sandwiched between northern and southern Senegal, has been a rare example of stability in West Africa. (more)