Deutsche Bank fine, IMF and Mozambique and Asky Airlines.

Sep 16, 2016, 12:43 PM

Hello I'm Russell Padmore with this Business Update from the BBC....

The main headlines:

Shares in Deutsche Bank have tumbled after American authorities revealed plans to levy a record fine for misleading investors......

The IMF has urged Mozambique to allow international auditors to investigate controversial loans taken out by state owned companies......

And the head of West Africa's Asky Airline has called on the continent's carriers to cooperate against competition from airlines outside Africa.....

Deutsche Bank has described a 14 billion dollar fine put forward by the US Department of Justice as an "opening position" and says it has no intention of paying a fine of that much to settle claims of misleading investors over mortgage related investments. The German company says other banks have agreed to pay fines that are much lower. More from BBC Business Correspondent, Theo Leggett......

The president of Mozambique, Filipe Nyusi, has promised to co-operate with the International Monetary Fund on the terms of an international audit of the country's debt. The Mozambiquan leader has been on a charm offensive in the US trying to reassure international institutions and investors over a two billion dollar debt scandal, involving secret loans that emerged this year. The IMF and donor countries have suspended aid to the African nation, which is one of the world's poorest. Gerry Rice is a director with the IMF......

Asky Airlines has been flying in West Africa for just six years, but it's become the only profitable carrier in the region. Ethiopian Airlines, which makes more profit than all African carriers put together, holds a 25 percent stake in the company. Asky's chief executive, Henok Teferra, believes airlines across Africa should cooperate more closely to beat the tough competition they all face from international carriers.

The World's population is expected to grow by a third, or two point three billion people, by 2050, that's according to the UN. And nearly all of that growth is forecast to take place in developing countries, notably in sub-Saharan Africa. The experts forecast the region's population will grow 114 percent......so how are we going to feed the huge population in countries across Africa. One answer is better farming techniques and using more of Africa's arable land to grow crops......but are enough young Africans interested in becoming farmers? The huge numbers that are moving out of rural areas to cities shows that may not be the case, as these young people told the BBC in Nairobi......

While the world frets about poachers killing elephants or rhinos for their tusks other endangered species are being killed across Africa, illegally for food. The trade in bush meat is very active in Malawi as the BBC's Ed Butler has been finding out.......