Money matters bulletin

Regional stock market indices Regional currency rates Zain board approves asset sale to Bharti-sources The board of Kuwaiti telecoms operator Zain has approved a $9 billion sale of most of its African operations to India’s biggest telecom firm, Bharti Airtel. After two failed attempts to buy South Africa’s MTN, Bharti has succeeded in securing a presence in Africa. Zain’s African businesses were considered a target for Bharti, as they are similar in demographics to the Indian market, characterized by low income, low tariffs and a rural population. According to a London-based telecoms analyst, “Bharti’s way of operating is perfect for Africa.“ Algeria on track for rail network upgrade Canadian engineering and construction firm Dessau has won a $38.8 million contract to design a railway line in Algeria. This contract is part of a $2.3 billion government project to revamp the country’s rail network. Dessau will carry out the preliminary and