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South Africa

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  • PRETORIA, Aug 26- South Africa avoided slipping into recession in the second quarter as solid growth in agriculture and finance outweighed a plunge in production in the strike-hit mining sector, data showed on Tuesday.

  • JOHANNESBURG/ LONDON, Aug 25- The chief executive of platinum producer Lonmin denied assertions from mining industry sources on Monday that the company aimed to cut around 5,700 jobs as part of a drive to restore profits after a five-month strike.

  • JOHANNESBURG/ LONDON, Aug 25- Platinum producer Lonmin aims to cut around 5,700 jobs, about 21 percent of its South African workforce, as part of a drive to restore profits after a five-month wage strike this year, sources familiar with the plan said. Lonmin spokeswoman Sue Vey said in response to questions from Reuters that she had "no knowledge" of the plan.

  • JOHANNESBURG, Aug 20- Unemployed South African construction worker Daniel isn't sure how he fell so deeply in debt. All he knows is that African Bank Investments, which was bailed out this month, kept offering him money and he kept taking.

  • LONDON, Aug 20- Oil traders have begun fixing tankers to take North Sea, West African and Arab crudes to South Africa for storage, hoping for a repeat of the multi-million dollar bonanza they reaped in 2008-2009..

  • *Liberia records most new deaths, worries over Monrovia. The epidemic of the hemorrhagic disease, which can kill up to 90 percent of those it infects, is ravaging the three small West African states of Liberia, Sierra Leone and Guinea, and also has a toehold in Nigeria, Africa's biggest economy.

  • South Africa: 8 killed in building collapse Monday, 18 Aug 2014 | 10:50 AM ET

    JOHANNESBURG— A building under renovation in an area southeast of Johannesburg collapsed on Monday, killing eight people, officials said. Another two people were missing in the accident at a housing estate in Alberton, said Luyanda Majija, a spokeswoman for emergency responders at the scene.

  • Ebola toll much higher than first thought: WHO Thursday, 14 Aug 2014 | 8:13 PM ET

    Staff with the World Health Organization battling an Ebola outbreak in West Africa see evidence the numbers of reported cases and deaths vastly underestimates the scale of the outbreak.

  • *Guinea declares health emergency over virus. CONAKRY, Aug 14- Staff with the World Health Organization battling an Ebola outbreak in West Africa see evidence the numbers of reported cases and deaths vastly underestimates the scale of the outbreak, the U.N. agency said on its website on Thursday.

  • *US orders embassy family members to leave Sierra Leone. An estimated 377 people have died in Guinea since the world's worst outbreak of Ebola began in March in remote parts of a border region near Sierra Leone and Liberia.

  • *Threat of more sanctions on Russia puts off investors. LONDON, Aug 12- With the threat of further Western economic sanctions hanging over Russia, foreign investors are deserting Moscow's equity markets and funnelling cash into other BRICS states, with China a standout beneficiary.

  • PRETORIA, Aug 12- South African Deputy President Cyril Ramaphosa said on Tuesday that living conditions for many miners were "inhumane" and that he wished that he had done more as an executive at the platinum producer Lonmin to improve them.

  • *Oscar Pistorius verdict due on Sept. 11. JOHANNESBURG, Aug 12- Eighteen months ago when he granted Oscar Pistorius bail after the killing of his girlfriend, South African magistrate Desmond Nair noted a number of "improbabilities" in the Olympic and Paralympic star's account of the shooting.

  • Reuters Business News Schedule at 1900 GMT/1500 EDT Sunday, 10 Aug 2014 | 3:00 PM ET

    PRETORIA- South Africa's central bank steps in to rescue unsecured lender African Bank Investments, placing it under external supervision and announcing plans for a $940 million capital injection underwritten by local lenders. Europe's fragile economy put to test as Ukraine, Iraq sour mood.

  • *African Bank placed under outside supervision. PRETORIA, Aug 10- South Africa's central bank stepped in to rescue unsecured lender African Bank Investments on Sunday, placing it under external supervision and announcing plans for a $940 million capital injection underwritten by local lenders.

  • JOHANNESBURG, Aug 7- Investors fled African Bank Investments on Thursday, as the South African lender faced a $790 million hole from a flood of unsecured loans gone bad and its furniture retail business applied for creditor protection.

  • JOHANNESBURG, Aug 7- Investors fled African Bank Investments on Thursday, sending its shares tumbling to a near-20 year low as the South African lender looked unable to plug a $790 million hole in its finances from a tide of unsecured loans that have gone bad.

  • MONROVIA/ DAKAR, Aug 6- Poverty, then war, and now, a deadly plague. Among the world's poorest states at the bottom of global development indexes, Sierra Leone, Liberia and Guinea had shown signs of leaving behind brutal wars and leaping into Africa's economic boom- before a lethal Ebola epidemic struck.

  • *Recent surge in Angola bad loans due to economy slowdown. JOHANNESBURG, Aug 4- Angola appointed administrators to manage the indebted local unit of Portugal's troubled lender Banco Espirito Santo on Monday and said a sovereign guarantee for most of its loans would be revoked.

  • BUSINESS-NEWS-SCHEDULE AT 1230 GMT / 8.30 AM ET Monday, 4 Aug 2014 | 8:56 AM ET

    LONDON- Europe's largest bank HSBC warns that regulators' zeal to punish wrongdoing is putting its staff off taking reasonable business risks, as it reports a 12 percent drop in first-half profit. Portugal in $6.6 bln rescue of Banco Espirito Santo.