Tullow Oil shares fell more than 5% after the Irish-founded exploration company announced the termination of its long-standing agreement to sell a third of its interests in Uganda in a $900m (€814m) deal.

HIGHER sales volumes and a lift in commodity prices are likely to have boosted Tullow Oil’s revenues to a record level of over $1 billion in the first half of this year.

France Albert René, one of the world’s longest-serving leaders, stepped down today after nearly three decades as president of the Seychelles.