Africa News
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Nigeria, Africa’s biggest oil producer and most populous nation, braced itself for nationwide protests after the government scrapped subsidies on fuel, doubling gasoline costs.
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The rand advanced to its strongest level against the dollar in almost a month as signs of improving manufacturing output around the world boosted commodities and equities.
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Speculators increased wagers on rising commodity prices by the most since August 2010 on signs that sustained economic growth will drive a rebound in raw materials from their first annual slump since the recession.
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South African corn prices rose the most since October on concern local stocks are being depleted by exports while global supplies will be curbed by a drought in South America.