Fears about Russian sanctions are driving the price of palladium to 13-year highs, and analysts say it could go much higher.» Read More
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.
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.
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.
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.
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.
The U.S.'s decision to close its Export-Import Bank would damage U.S. companies trying to do business in Africa, GE's Jeff Immelt said.
President Barack Obama is gathering nearly 50 African heads of state in Washington for an unprecedented summit aimed in part at building his legacy.
JOHANNESBURG, July 31- South Africa's Sibanye Gold remains on the hunt for a platinum asset and has Anglo American Platinum's mines in its sights, ready to make a move if the owner decides on either a straight sale or a separate listing for the assets.