The 24 fishing boats rusting in the harbour of Mozambique's capital were meant to be a modern tuna fleet that would rake in hard currency, create jobs and provide a cheap source of protein for one of the world's poorest countries. Instead, they have become monuments to government mismanagement and heavy lending by Western banks that has buried a promising African economy in a deep debt crisis. The boats, moored in the harbour of Maputo, were paid for out of an $850-million (588 million pounds) loan arranged in 2013 by Credit Suisse and Russia's VTB to finance "fishing infrastructure".
NEW YORK (AP) — Shares of Herbalife surged more than 11 percent in early trading Friday after disclosing that it's in advanced talks to settle a federal investigation into claims that the company essentially operates as a pyramid scheme.
By James Pearson PYONGYANG (Reuters) - North Korean leader Kim Jong Un on Friday hailed the country's recent nuclear test and launch of a satellite into space, as he opened the first congress of the country's ruling Workers' Party in 36 years. Wearing a dark western-style suit and grey tie, the 33-year-old was flanked by his top military aide and the titular head of state in a massive hall packed with military and party delegates, according to footage on North Korean state television aired late on Friday. During the congress, Kim is expected to further consolidate his control over a country that has grown increasingly isolated over its pursuit of nuclear weapons, including its fourth nuclear test in January, which led to U.N. resolutions in March tightening sanctions.