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Cameroon startup launches drones for global market

YAOUNDE, Cameroon: Talking fast and dreaming big, William Elong shows off the first "made in Cameroon" drone at his sixth-floor workshop in downtown Douala, minutes from the economic capital's Atlantic seafront. The 25-year-old, known as a high-flyer after being named one of Forbes' most promising young Africans under 30, is enthusing about his new unmanned aerial drones and keen to promote his company and Africa as a place where IT and new tech can flourish. We must "get out of the Afro-centric vision of business" to…

Govt increases prices of all petroleum products

ISLAMABAD: The federal government has revised prices of all petroleum products upward for the month of November in an announcement on Wednesday.  A notification of the petroleum ministry said the fuel prices have been increased to keep up the trend of hike in crude oil prices in the global market. The petroleum ministry has enhanced the price of light diesel oil (LDO) by Rs three per litre and that of kerosene oil by Rs 5.19 per litre. The price of high-speed diesel (HSD) has been hiked by Rs 5.19 per litre and petrol…

Oil prices rebound in Asia on bargain hunting

SINGAPORE: Oil prices rebounded in Asia Tuesday on bargain hunting ahead of a report on US crude inventories, but the market remained weighed down by the slowing Chinese economy and a global oversupply.

China cuts 2014 GDP growth: govt

BEIJING: China on Monday lowered last year's economic growth figure to 7.3 percent after concerns about slowing expansion caused global market havoc, but said its own stock exchanges are stabilizing following "bubbles" and painful corrections.

Global markets dive on gloomy growth outlook

LONDON: Financial and commodities markets slumped on Wednesday after the World Bank cut its growth forecasts for 2015 and 2016, fuelling fears that the benefits of cheaper oil may be offset by anaemic economies and the threat of deflation.