Business

Morocco and China's Haite Group signed an agreement to launch an industrial park near Tangiers.

Despite government promises, the roads below are still clogged with traffic 14 months after the light rail system's opening.

Chinese tourists are slowly returning to Egypt, easing pressure on a key sector battered by years of turmoil.

The China National Petroleum Corporation secured an eight-percent share in an onshore oil concession in Abu Dhabi in a deal worth $1.77 billion.

The annual four-day Mining Indaba in Cape Town takes place as demand in China, one of the world's biggest consumers, begins to stabilise.

China's renminbi slipped a notch to become the sixth most-used global currency over the course of last year, hit by depreciation and government capital controls.

The number of international tourists rose by four percent worldwide to 1.2 billion in 2016 as Asians travelled more, but security fears hit visitor arrivals in Europe and Africa.

The Congolese government has dropped objections to Freeport-McMoRan Inc. and Lundin Mining Corp.’s $3.8 billion combined sales of one of the country’s biggest mines to Chinese companies, bringing an end to an eight-month dispute. New terms between the parties will allow Freeport and Lundin Mining to exit the copper and cobalt project in the Democratic Republic of Congo without legal challenge according to Bloomberg News Agency.

China said it will ban or closely monitor overseas investments by state-owned firms in certain sectors, the latest move in a government fight to stem capital flight and what it has called "irrational" spending abroad. The government would, however, seek to encourage SOE overseas investment in sectors including high-speed rail, roads, telecommunications, and nuclear power.

In Davos, the irony was that it was the leader of communist China who preached a message in favour of open markets and globalisation.