Market News

 Mahindra company from India is planning to open a tractor assembling plant here, Zanzibar President, Dr Ali Mohamed Shein, revealed here yesterday. Dr Shein said negotiations with the Indian company were currently going on. He also disclosed that his government would also purchase 100 tractors . . .

 The  construction of a multi-million dollar new Airport in Nigeria is set to kick off at Ekiti State after a spate of delay. The airport project will be executed on 4000 hectares of land.   The construction project was initially approved in 2009 during the administration of the lat . . .

 German carmaker Volkswagen plans to spend 4.5 billion rand ($343 million) to upgrade its factory in South Africa and improve its supplier base, it said on Thursday. Most of the money would be used to revamp its factory in Uitenhage in Eastern Cape province to produce new models, Thomas Schaefe . . .

 Ford Motor Co. said it plans to assemble its Ford Ranger pickup truck in Nigeria by the fourth quarter, as it expands in Africa and the Middle East.   The Nigerian assembly plant, in partnership with Ford dealer Coscharis Motors Ltd., is the first outside South Africa, where Ford produc . . .

 Plans are underway for  the construction of a mega International airport in Ethiopia, the Ethiopian Airports Enterprise has announced.   The Ethiopian Minister of Transport, Workneh Gebeyehu confirmed the reports and said that Ethiopia is to break the ground for a new mega hub airp . . .