US oil giant ExxonMobil has bought a stake in oil blocks off the coast of Ghana in a deal worth $4 billion.

Canadian mining firm Ivanhoe Mining has partnered with Anglo-Australian mining group Rio Tinto to develop the Oyu Tolgoi copper-gold prospect in Mongolia. At a ceremony today in MongoliaÔÇÖs capital Ulan Bator, the two companies and the Mongolian government signed the long-awaited $4 billion investment agreement, allowing the development phase at the mine to commence.

Dubai-based retail and manufacturing group Al Ghurair Group has said it is interested in acquiring packaging assets from Rio Tinto Alcan.

The second biggest life insurer in the US, Prudential Financial, is considering a sale of its South Korean brokerage and fund management businesses. The Newark, New Jersey-based company is considering its options for Prudential Investments & Securities Co and Prudential Asset Management Co, which are both based in Seoul, South Korea. The deal could fetch around $850 million. The company is seeking to exit its operations in the nation following increased competition as a result of a new law allowing banks and securities firms to engage in each otherÔÇÖs businesses.

The United Arab Emirates, the second-largest Arab economy, is one step closer to implementing a peaceful nuclear energy programme that will meet its soaring electricity needs.

Los Angeles-based Northrop Grumman has won a major $3.8 billion contract to maintain and service the US Air ForceÔÇÖs fleet of KC-10 aerial refueling tankers. Northrop will take over from Seattle-based rival Boeing, who currently holds the contract for servicing the aircraft, in January. Boeing has been providing a 24-hour service, seven days a week on the fleet since 1998.

Swiss mining firm Xstrata has been given seven weeks to submit a proposal to merge with its rival Anglo American.

Vilu Reef Beach & Spa Resort in the Maldives has received numerous awards and accolades for its performance. Operations manager Ali Yoosuf talks to Gay Sutton about the secrets of its success

Comcast, the largest cable network in the US, is reportedly in discussions with General Electric (GE) over a stake in NBC Universal, owner of the NBC television network.  Analysts have valued NBC Universal (NBCU) at between $21 billion and $35 billion, including an estimated $5.1 billion in debt. The stake under discussion is around 50 percent, though the deal would partly depend on French media conglomerate Vivendi relinquishing its 20 percent holding.

A sense of nurture
The spectacular growth enjoyed by Ububele Holdings is based on a selected process of vertical integration of its agri business and scientifically-based beneficiation of fruit and vegetables in its food processing division, as Ruari McCallion learned from Theo Kleinhans.
In just six years, the turnover of Ububele Holdings Ltd has rocketed from R2.7 million to R400 million. Even in a period of economic downturn, Ububele and its businesses continue to grow. How has it achieved such remarkable success?