The following appeared in the November issue of Business Diary Botswana:

Despite the IMF’s recent projection that Botswana’s economy will contract 10.3% this year, the lender expects a 4.1% uptick next year such that emergency funding would not be required. Back in June the country tapped a $1.5bn “budget support loan” from the African Development Bank–the largest such facility ever granted by the Bank–in order to finance part of a budget deficit then estimated at around 13.5% of GDP, and since revised to 14%. The IMF cited a renewal of demand for diamonds as a central facet of its optimistic forecast. Furthermore, it predicted, GDP growth across sub-Saharan Africa will rise to approximately 4% next year and 5% in 2011, up from 1.1% in 2009. “We think it should be possible for sub-Saharan Africa to recover quicker this time around and have a ‘V-shaped recovery,’”

...

Canadian gold mining company Kinross Gold Corporation (KGC) recently received authorization from the Ecuadorian Ministry of Non-Renewable Natural Resources to re-commence advanced exploration activities at the Fruta del Norte (FDN) gold project in Zamora-Chinchipe province of Ecuador, which was put on hold last year as the gold mining activities were halted in the country. Kinross had acquired the project last year by buying Aurelian Resources (another gold mining stock in Ecuador) for $1.2 billion. With this authorization, Kinross expects to re-commence its drilling program at FDN shortly. The program includes a 20,000 meter drilling campaign to support the completion of a feasibility study. The company plans to use four drills to execute the drilling campaign which is expected to take six months to complete. Kinross expects to complete a pre-feasibility study in January 2010. Kinross benefits from higher gold prices, exploration projects and acquisitions. The company ...

Earlier this week, LAN Airlines S.A. (LFL) and its subsidiaries released its preliminary monthly traffic statistics and punctuality indicators for October. Passenger traffic rose 15.7% year over year while capacity jumped 10.1%. Its load factor increased 3.9 points to 80.2%.   International passenger traffic accounted for almost 69% of total passenger traffic, with the rest coming from domestic passengers.   Domestic passenger traffic in Chile, Argentina, Peru and Ecuador rose 14.1% and international passenger traffic rose 16.5%. Domestic capacity increased 8.6% and international capacity increased 10.8%. International capacity was mainly driven by a surge in operations in Europe and certain regional routes.   In line with the global decline in import and export markets cargo traffic fell 6.2% mainly due to the slowdown in import and export markets in Latin America, as well as the reduction of salmon exports from Chile. In line with the decrease in demand, ...

Iran is 'unwilling to accept' a deal that would see most of its enriched uranium shipped abroad. 'Tehran is obviously probing to see whether President Obama can play hardball or whether he can be played.'  Russia will share the 'prize' that is the giant Yamal gas resource, but only because Gazprom can't handle the challenge on its own, argues Rossiyskaya Gazeta.  Ecuador's President Rafael Correa made his first visit to Russia this week to court support for a planned overhaul of his country's energy industry.  Signing a series of agreements on arms and energy (particularly hydropower), President Dmitry Medvedev heralded 'the beginning of cooperation'.  Will state-owned nuclear corporation Rosatom take the place of Germany's RWE in the Belene nuclear power plant?  Speaking at the Solar Power International Conference, being held in California this week, Robert Kennedy ...

America Movil (AMX) reported results for third-quarter 2009 with earnings per ADS of 86 cents edging past the Zacks Consensus Estimates of 85 cents while increasing 22.6% from the year-ago earnings per ADS of 70 cents. Net profit surged 50.6% year over year to 18.7 billion pesos (US$1.4 billion) or 0.57 pesos per share. This healthy growth was fuelled by higher revenue and lower financing costs which fell 82.5% year over year due to gains stemming from favorable exchange rate swings.  Revenue & EBITDA Latin America’s largest wireless carrier continues to register a double-digit revenue growth as evident from the 16.9% year over year increase in consolidated revenue in the quarter to 99.8 billion pesos (US$7.5 billion), driven by 19.5% growth in service revenue. Revenue growth was supported by healthy business momentum across 3G wireless and broadband Internet businesses.  Consolidated EBITDA for the quarter was 40.4 ...

Chile-based LAN Airlines S.A. (LFL) yesterday reported discouraging results for the third quarter 2009. Net income of US$52.1 million was 37.3% lower than  net income of US$83.0 million in the third quarter of 2008. Excluding non-operating extraordinary items recognized in the third quarter 2008, net income decreased 58.3%. Consolidated revenues declined 19.1%, driven mainly by lower yields in both the cargo and passenger businesses. This was partially offset by a 14.3% decline in operating expenses, driven mainly by lower fuel costs. Operating income reached US$92.4 million a 46.1% decrease compared to US$171.3 million in the same quarter of previous year. Operating margin reached 10.1%, compared to 15.1% in the same period of 2008. Third quarter 2009 results continued to be impacted by fuel hedging losses, although to a much lesser extent than in previous quarters. The fuel hedging loss during the quarter amounted to US$14.4 million ...

Earlier this month, LAN Airlines S.A. (LFL) and its subsidiaries released its preliminary monthly traffic statistics and punctuality indicators for September. Passenger traffic rose 11.9% year over year while capacity jumped 9.3%. Its load factor increased 1.8 points to 78.8%.   International passenger traffic accounted for almost 71% of total passenger traffic, with the rest coming from domestic passengers.   Domestic passenger traffic in Chile, Argentina, Peru and Ecuador rose 17.5% and international passenger traffic rose 9.8%. Domestic capacity increased 15% and international capacity increased 7.1%. International capacity was mainly driven by a surge in operations in Europe and the South Pacific, which was partially offset by a decrease in certain regional routes.   Cargo traffic fell 8% mainly due to the slowdown in import and export markets in Latin America, as well as the reduction of salmon exports from Chile. In line with the decrease in demand, ...

TODAY: United Russia sweep polls at regional elections; accusation of vote-rigging fly.  Mitvol receives unusual delivery.  Medvedev had no time for Yushchenko at CIS summit; positive on Obama's peace prize; Ecuador looking for weapons deals?; Russia bids to host World CupWith almost 90% of the votes counted in Moscow, the city's election Committee has reported that the United Russia party has garnered 66.10% of the vote, with the Communist Party coming in second at 13.28%, sufficient for three seats in the 35-member chamber.  Vladimir Putin's party is apparently likely to have dominated in other regions.  The Guardian reports on allegations of vote-rigging; talk of which has seen leading opposition candidates scorn Medvedev's promise to uphold ...

Murphy Oil Corporation (MUR) announced the acquisition of a corn-based ethanol plant in Hankinson, North Dakota, on Oct 1, 2009, through its subsidiary. The purchase price was $92 million, which will be financed through non-recourse debt offered via the sellers. The company plans to invest approximately $15 million in working capital into the facility.  The acquired plant had started production in July 2008 and has remained idle since October 2008. The annual capacity of the plant is 110 million gallons.  The acquisition marks Murphy’s first venture into the manufacture of bio-fuels and is expected to supplement the company’s growing North American fuels business. Given the current ethanol mandates and the company’s subsequent blending needs, a comprehensive presence in the supply chain better balances the company’s business. Production at the plant, which is located near feedstock supply and rail service for carrying the finished product, is expected ...

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Thursday September 24, 2009

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CSRH, CME, PWRM, GRMN, CVAT, HERO, CVX

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CSRH, Consorteum Holdings Inc, CSRH.OB

CSRH is a company in the financial services, payment and transaction processing industries.

CSRH provides electronic transaction processing and management services to financial institutions, healthcare, government, public and private sector companies. CSRH’s services provide customized, innovative technology solutions that create, augment and enhance customers’ existing financial, payment and transactional processing systems.

CSRH has established an agreement with a third party partner within the payment processing industry to offer Merchant Discount Rates. Consorteum will leverage this new partnership to offer competitive Merchant Discount Rates and

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