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  • 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...

  • *Oil price slump squeezes Nigeria, Angola. The highest profile victim so far has been Africa's top producer, Nigeria, which was forced to devalue its naira currency by 8 percent this week after the central bank admitted dwindling reserves were making it hard to defend it. In dollar terms, the devaluation knocked $40 billion off the value of Nigeria's economy-...

  • JOHANNESBURG, Nov 27- Some investors in failed South African lender African Bank Investments have received offers for its preference shares, the company said on Thursday, a possible sign of interest in the bank ahead of a planned relisting. African Bank has 13.5 million preference shares listed in Johannesburg, according to Reuters data.

  • Lack of coal may bring Ukraine to its knees this winter Wednesday, 26 Nov 2014 | 8:48 AM ET

    LONDON/ BRUSSELS, Nov 26- A shortage of coal, rather than gas, is likely to plunge Ukraine into freezing darkness this winter as conflict in its east seals off supplies that used to make it self sufficient. "We have no energy reserves now, everything works on maximum and every technical problem can lead to sharp power cuts," said Andrey Favorov, managing director of...

  • *Platinum, palladium traders sued by jewelry maker. NEW YORK, Nov 25- Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals. In a complaint filed on Tuesday in the U.S. District...

  • BUSINESS-NEWS-SCHEDULE AT 1630 GMT /11:30 AM ET Wednesday, 19 Nov 2014 | 11:40 AM ET

    WASHINGTON- President Barack Obama might be open to using the Keystone pipeline as leverage with Republicans if they cooperate on other aspects of his long-stalled domestic agenda, such as investing in infrastructure, closing tax loopholes or reducing carbon emissions. U.S. regulator seeks nationwide recall of Takata air bags. WASHINGTON- The U.S. auto...

  • BUSINESS-NEWS-SCHEDULE AT 1600 GMT /11:00 AM ET Wednesday, 19 Nov 2014 | 11:07 AM ET

    WASHINGTON- President Barack Obama might be open to using the Keystone pipeline as leverage with Republicans if they cooperate on other aspects of his long-stalled domestic agenda, such as investing in infrastructure, closing tax loopholes or reducing carbon emissions. WASHINGTON- The U.S. auto safety regulator has told Japanese supplier Takata Corp and...

  • JOHANNESBURG/ DUBAI, Nov 19- Bharti Airtel's planned disposal of mobile phone towers in Africa will see it sell masts in Tanzania to Helios Towers, while units in Malawi will go to Eaton Towers, a person with knowledge of the deal said on Wednesday. The Tanzania sale will include about 1,000 towers, said the source, who declined to be identified because the deal has...

  • Behind Discovery's acquisition of Prudential Health   Tuesday, 18 Nov 2014 | 12:46 AM ET
    Behind Discovery's acquisition of Prudential Health

    Adrian Gore, Founder & CEO at Discovery, discusses the South African health insurer's move to purchase the remaining 25 percent stake in Prudential Health it does not already hold.

  • DIARY - Emerging Markets Economic Events to Dec 1 Monday, 17 Nov 2014 | 7:02 PM ET

    Nov 18- For other related diaries, please. MAKATI CITY- Asian Development Bank to launch the latest Asian Economic Integration Monitor- 0130 GMT. BRASILIA- Brazil Central Bank President Alexandre Tombini may speak at congressional commission about deterioration of the country's fiscal results.

  • DAKAR/ BRUSSELS, Nov 14- Medecins Sans Frontiers "wasted time" by waiting too long to call for vaccines to fight an unprecedented outbreak of Ebola in West Africa, a veteran of the medical charity told Reuters. The group's response to the epidemic which has so far killed more than 5,000 people has been widely praised by governments and the World Health Organization.

  • TORONTO, Nov 10- Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize- weaker local currencies and falling oil prices that will help trim their costs. "It's definitely a silver lining," said Chris Mancini, analyst at Gabelli Gold Fund. Agnico Eagle Mines Ltd, which produces two-thirds of its gold in Canada,...

  • The EMs that are most at risk of a Fed rate hike   Monday, 10 Nov 2014 | 12:17 AM ET
    The EMs that are most at risk of a Fed rate hike

    Ricardo Adrogue, Managing Director at Babson Capital Management, says South Africa and Brazil are two of the countries that are most likely to be burned by a U.S. rate hike.

  • LONDON/ VANCOUVER Nov 6- Struggling gold producers plan increasingly drastic measures such as scrapping dividends, cutting jobs, halting projects and shutting mines to survive the latest price plunge, but not all of them will make it. According to Citi analysts, about three quarters of gold mining companies burn cash at spot prices just below $1,200 on an all-in...

  • JOHANNESBURG, Nov 5- South African miner Harmony Gold reported a further quarterly loss on Wednesday and suggested it might have to cut jobs as it contends with a depressed gold price and operational problems which include an escalating battle with illegal miners. Unveiling its results for the three months to end-September, the company said losses narrowed...

  • JOHANNESBURG, Nov 3- South Africa's Bidvest Group on Monday jettisoned plans for a potential listing of its food service arm, the second time it has balked at spinning off the unit and disappointing investors who had bet on a hefty pay-out from the move. Bidvest, a sprawling company involved in businesses from shipping to mop sales, has long acknowledged the need...

  • JOHANNESBURG/ BANGALORE, Oct 30- Kenya's central bank is likely to put off raising interest rates until the second quarter of next year as tumbling oil prices keep a lid on inflation, a Reuters poll found. The exception, Rand Merchant Bank, forecast a 50 basis-point rise to 9 percent. Other central banks from emerging markets- such as South Africa and, on Wednesday,...