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  • DIARY-Emerging Markets Economic Events to April 6 Monday, 23 Mar 2015 | 8:02 PM ET

    MAKATI CITY, Philippines- Asian Development Bank to release Asian Development Outlook Report 2015- 0130 GMT. MANILA- Philippines Investment Forum 2015. Philippines President Benigno S Aquino III, Philippines Finance Secretary Cesar Purisima and Philippines Central Bank Amando M Tetangco Jr are the key speakers. PRAGUE- Czech Republic Finance Minister...

  • WASHINGTON/ MIAMI, March 23- The December breakthrough that upended a half-century of U.S.- Cuba enmity has been portrayed as the fruit of 18 months of secret diplomacy. President Barack Obama and veteran Cuba specialists to forge the historic rapprochement. In a May 2008 speech to the conservative Cuban-American National Foundation in Miami, Obama set out a...

  • Battered Africa gold valuations to spur mines sales Thursday, 19 Mar 2015 | 8:07 AM ET

    JOHANNESBURG/ LONDON, March 19- Some of the lowest valuations in decades and rising pressure on Africa's gold producers to restructure or perish are likely to spur a wave of acquisitions in a sector attracting a growing number of potential buyers. Gold producers are now being forced to shape up to stay afloat and their focus has switched to cutting costs and...

  • *South32 net debt at $674 mln, well below forecasts. *Net assets $12.95 bln, based on book value. MELBOURNE/ LONDON, March 17- BHP Billiton said a proposed $13 billion spinoff of South32 would give the world's biggest miner a strong chance to ride out tough conditions in commodity markets and was a more attractive option than an asset sale.

  • *South32 net debt at $674 mln, well below forecasts. MELBOURNE, March 17- BHP Billiton has put far less debt than expected into its $13 billion South32 spin-off, positioning the company formed from its unloved assets to weather tough markets and still pay a dividend. Named for the line of latitude linking its two main centers, Australia and South Africa, South32 had...

  • MELBOURNE, March 17- BHP Billiton has positioned its South32 spin-off for future growth, tipping in much less debt than expected to the new company made up of BHP's unloved assets when it lists in May. In the longer term, BHP would be better placed to achieve "substantial productivity gains beyond the $4 billion per annum already targeted" by the end of 2016/ 17, Chief...

  • UPDATE 2-Shell pulls back from shale in South Africa Monday, 16 Mar 2015 | 10:23 AM ET

    JOHANNESBURG, March 16- Royal Dutch Shell is pulling back from its shale projects in South Africa due to lower energy prices and delays in obtaining an exploration licence for the onshore Karoo Basin, it said on Monday. Chairman Bonang Mohale, who said the company was going to a "low cost holding position", told Reuters oil prices would need to be between $60 to $80 a...

  • JOHANNESBURG/ LONDON March 12- The sliding rand is a double-edged sword for mining companies in South Africa, with cost inflation, wage claims and potential labour unrest outweighing the gains that exporters traditionally derive from domestic currency weakness. The drop in the rand, near 13- year lows against the dollar, should benefit diversified mining...

  • *Growth, investment in Africa remains lopsided, localised. Sub-Saharan Africa has achieved annual growth of more than 5 percent over the last decade, and foreign investment has more than quadrupled over the same period, feeding the popular catch phrase that Africa is' rising'. "'Africa Rising' served a purpose because it alerted people who weren't interested in...

  • BOTHAVILLE, March 4- A proposal by the South African government to limit farm size to 12,000 hectares is a "negotiating tactic" as it tries to press ahead with the redistribution of land to black farmers, the minister of agriculture said. Speaking on the sidelines of a conference organised by industry group Grain SA in the heart of the maize belt west of...

  • *Bidvest expects PIC to reject offer. *Bidvest offered 52 rand per share, or $515 mln. JOHANNESBURG, March 2- The chief executive of South Africa's Bidvest Group said his $515 million buyout offer for Adcock Ingram is likely to be rejected by a major shareholder, meaning the industrial conglomerate could end up with less than 100 percent.

  • JOHANNESBURG, March 2- Angola's central bank will probably have to devalue the kwanza and raise interest rates this year as a sharp drop in oil prices saps foreign exchange supply, the Angolan unit of Africa- focused investment bank Imara Securities said on Monday. Oil-dependent Angola slashed $17 billion off its budget this year due to the drop in the price of...

  • JOHANNESBURG, Feb 23- South Africa's Harmony Gold must feel cursed by its Kusasalethu mine, where a fire on Sunday has delivered a fresh blow to the company's efforts to boost earnings. More than half of their book is not making money and Kusasalethu is the main culprit, "said Daniel Sacks, portfolio manager at Investec. The deep level operation west of Johannesburg...

  • *Fire started 2.3 km underground at 0800 GMT. JOHANNESBURG, Feb 22- South Africa's Harmony Gold said on Sunday all 486 miners who were trapped underground following a fire had been rescued. South Africa's gold mines are the deepest in the world and were ranked as some of the most dangerous during the apartheid era.

  • *Mine belongs to Harmony Gold. JOHANNESBURG, Feb 22- About 200 miners were missing on Sunday after an underground fire at a mine belonging to South Africa's Harmony Gold, the company said. South Africa's gold mines are the deepest in the world and were ranked as some of the most dangerous during the apartheid era.

  • *Paris, London mayors take measures against diesel. LONDON/ JOHANNESBURG, Feb 20- Platinum producers struggling back from South Africa's longest-ever mining strike are now contending with threats to a long-awaited price recovery, notably Europe's emerging dislike of diesel engines. Its rival Lonmin, having plunged into the red last year, also expects higher...

  • DIARY-Emerging Markets Economic Events to March 4 Wednesday, 18 Feb 2015 | 7:02 PM ET

    ROME- OECD Secretary General Angel Gurria will present the Economic Survey of Italy at a news conference with Economy Minister and Finance Minister Pier Carlo Padoan. SINGAPORE- Singapore Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam will deliver the 2015 Budget statement in the Parliament- 0500 GMT. JERUSALEM- Bank of Israel announces...

  • LAGOS, Feb 12- Nigeria's central bank chief said on Thursday there was "no need to panic" about a slide in the currency, after figures showed the bank had been burning through more than $110 million a day in a vain attempt to defend it. The naira has crashed through the key level of 200 to the dollar this week in a rout sparked by weak oil prices and escalating tension over...

  • JOHANNESBURG, Feb 11- With power outages now a daily reality in South Africa and expected to last for the next three years, business and individuals are taking matters into their own hands. Mobile phone giant MTN and Standard Bank are among the companies that have decided to go it alone in trying to keep the lights burning at their businesses.

  • JOHANNESBURG, Feb 10- South Africa's Kumba Iron Ore plans to cut jobs, production costs and capital spending to cope with expected weak prices of the commodity this year, it said on Tuesday, after reporting a fall in 2014 earnings. The Anglo American subsidiary, whose shares fell around 3 percent in early trading, said crude steel production was forecast to recover...