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South Africa

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  • JOHANNESBURG, Jan 29- South Africa's Reserve Bank left interest rates on hold on Thursday and dampened chances for a rate cut in coming months due to lower oil prices, saying this would require a sustained decline in inflation. "The MPC is of the view that the bar for further accommodation remains high and would require a sustained decline in the inflation rate and...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • VANCOUVER/ TORONTO, Jan 21- The New Year's rally in gold stocks offers a respite for the beaten-down sector, but it masks deep-seated problems of bloated debt, weak growth prospects and overvalued assets that will emerge when miners post year-end results in coming weeks. Even if bullion's recent rally persists- it is up 9 percent this year to $1,290 an ounce-...

  • DIARY-Emerging Markets Economic Events to Feb 3 Tuesday, 20 Jan 2015 | 7:02 PM ET

    **SEOUL- Bank of Korea Governor Lee Ju-yeol will hold a press conference with foreign media at the Seoul Foreign Correspondent's Club- 2230 GMT. **SEOUL- Bank of Korea Governor Lee Ju-yeol will meet the heads of banks in South Korea- 2230 GMT. PRETORIA- The South African Reserve Bank starts its three-day monetary policy committee meeting.

  • The cost of halting a pandemic? $344 billion: Study Saturday, 17 Jan 2015 | 12:15 PM ET
    A custodial worker wears a mask and eye protection to guard against the Ebola virus as he prepares to clean Ruth Cherry Intermediate School in Dallas.

    How much would it cost world governments to insulate their economies from global pandemics. Would you believe nearly $344 billion?

  • *Faltering euro zone and China, disinflation biggest risks. BENGALURU, Jan 15- Global economic growth will be modest at best in the coming year as weak inflation persists, Reuters polls showed on Thursday, while a faltering euro zone and China could restrain it further. Economists polled over the past week by Reuters say the biggest risk to the global economy this...

  • WARSAW, Jan 14- South African e-commerce and media firm Naspers is looking to sell its Polish operations, including Eastern Europe's largest web auction service Allegro, sources said on Wednesday. Naspers wants to focus more on faster growing markets like Brazil and China. Naspers bought it in 2007 for 946 million pounds and used the Allegro model in the Czech...

  • *Poll details: reuters:// realtime/verb= Open/url= cpurl:// apps.cp./ Apps/fx-polls. BRASILIA, Jan 7- Emerging market currencies will stay under pressure in 2015, a Reuters poll found, though they may not fall as much as last year as lower commodity prices and tighter monetary policy in the United States could be largely priced in already. "The dichotomy between the...

  • Uber vehicles impounded in South Africa - executive Tuesday, 6 Jan 2015 | 4:11 PM ET

    SAN FRANCISCO, Jan 6- Police in Cape Town, South Africa, impounded 33 Uber vehicles over the weekend in a dispute over what type of permits drivers should hold, an Uber executive said. Last month, it drew bans in France, Spain and the Netherlands. In Cape Town, after several months of discussion with Uber, officials decided late last year on a metered-taxi license.

  • Recolonizing Africa: A modern Chinese story? Tuesday, 30 Dec 2014 | 5:57 PM ET

    China, one of the world's largest "emerging" investors, is ramping up investment in Sub Saharan Africa as it searches for resources, but whether the benefits are mutual isn't clear.

  • JOHANNESBURG, Dec 12- South Africa will announce a series of renewable energy projects on Monday that will add 1,000 megawatts of power into the country's constrained electricity grid, sources close to the deals told Reuters. Another non-government source familiar with the bidding said the following firms were strong contenders: Johannesburg- based...

  • JOHANNESBURG, Dec 10- South African stocks rebounded on Wednesday, led by gold mining companies such as Gold Fields and AngloGold Ashanti which rose on the back of a firm gold price and a weaker rand. Gold Fields was the biggest climber on Johannesburg's broader All-share index, gaining 6.6 percent to its highest level in more than a year. Africa's largest gold...

  • LONDON, Dec 10- Standard Chartered has set up a board committee responsible for financial crime compliance, a day after U.S. authorities extended monitoring of the bank by three years. Standard Chartered said on Wednesday its new Board Financial Crime Risk Committee will be chaired by Simon Lowth, who has been a non-executive director at the bank since May 2010...

  • *South Africa suffers worst blackouts since 2008. JOHANNESBURG, Dec 9- Businesses have shut up shop, generators have sold out and cars play cat-and-mouse at darkened road junctions in South Africa, where power cuts have suddenly become a daily reality. Under white minority rule, South Africa subsidised electricity heavily to attract foreign investment,...

  • *Expected Mugabe successor reveals nationalist thinking. HARARE, Dec 9- When veteran Zimbabwe leader Robert Mugabe sacked his vice-president in front of 12,000 baying party members last week, Emmerson Mnangagwa sat quietly in the crowd, a green baseball cap pulled low over his eyes. It's a tactic that ZANU-PF embraced to deflect its responsibility for the...

  • RPT--African insurers in vogue as incomes rise Monday, 8 Dec 2014 | 3:00 AM ET

    Rapid economic growth in countries such as Ghana, Kenya and Nigeria has increased the number of people with money to spend on insurance to protect their wealth, while regulatory changes are encouraging the growth of domestic savings and pensions. Several major companies, including Swiss Re, Prudential and Sanlam, are buying insurers in Africa, with the focus on...

  • BHP Billiton names spin-off company South32 Monday, 8 Dec 2014 | 2:30 AM ET

    MELBOURNE, Dec 8- A planned spin-off of businesses by global miner BHP Billiton will be called South32 when it seeks multiple stock listings next year, BHP said on Monday. The new name recognizes that most of South32's operations are in the southern hemisphere, with its two regional centers- Australia and South Africa- linked by the thirty-second parallel south...

  • African insurers in vogue as incomes rise Sunday, 7 Dec 2014 | 4:00 AM ET

    Rapid economic growth in countries such as Ghana, Kenya and Nigeria has increased the number of people with money to spend on insurance to protect their wealth, while regulatory changes are encouraging the growth of domestic savings and pensions. Several major companies, including Swiss Re, Prudential and Sanlam, are buying insurers in Africa, with the focus on...

  • JOHANNESBURG, Dec 1- Anglo American Platinum expects full-year earnings to fall by at least 20 percent because of the record five-month strike that hit its South African operation, it said on Monday. The wages dispute with the Association of Mineworkers and Construction Union, which ended in June, cost Amplats 424,000 ounces in lost production and a further...

  • BUSINESS-NEWS-SCHEDULE AT 2000 GMT / 3:00 p.m. ET Thursday, 27 Nov 2014 | 3:00 PM ET

    Oil prices plunge after OPEC decides against output cut. CALGARY- Brent crude oil plunged as much as $6.50 a barrel, and U.S. crude dropped by nearly as much, posting their steepest one-day falls since 2011, after OPEC decided against cutting output despite a huge oversupply in world markets. BOGOTA- Hundreds of thousands of people displaced from their land...