GO
Loading...

Enter multiple symbols separated by commas

South Africa

More

  • ABUJA, April 15- Oil firms keen to know how Nigeria's president elect Muhammadu Buhari plans to tax them could be waiting a long time as he makes ending corruption and reforming the opaque national oil company his most urgent sector priorities. Four party sources from Buhari's All Progressives Congress told Reuters the issue of fiscal terms, seen as crucial by...

  • South Africa names bidders for 1,000 MW of green power Tuesday, 14 Apr 2015 | 10:42 AM ET

    JOHANNESBURG, April 14- South Africa has named preferred bidders for the fourth round of a series of renewable energy projects, that will add about 1,000 megawatts of power to its ailing grid, industry insiders said on Tuesday. "We have been awarded the 140 MW Roggerveld wind farm and the 4.7 MW Kruisvallei hydro farm," said Gabriele Maraschin, development manager...

  • *Istanbul aims to be top-10 financial hub. *Equity market has not kept pace with economic growth. ISTANBUL, April 12- Turkish President Tayyip Erdogan dreams of transforming Istanbul into a financial hub that can rival Dubai or Singapore, but first he needs to win over would-be investors like Ali Bahcuvan.

  • DIARY- Top Economic Events to April 21 Thursday, 9 Apr 2015 | 8:01 PM ET

    SARASOTA, United States- Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on the economic outlook before an event co-sponsored by the Global Interdependence Center and the Financial Planning Association of the Suncoast- 1245 GMT. BLOOMINGTON, United States- Federal Reserve Bank of Minneapolis President Narayana Kocherlakota speaks...

  • By Rahul Karunakar and Hari Kishan. March 31- Uncertainty surrounding the timing of the U.S. Chinese and most European stocks have led the way with a stellar run, buoyed by stimulus from the People's Bank of China and the European Central Bank.

  • JOHANNESBURG, March 27- South African utility Eskom fired 1,000 workers at a power plant on Friday and its chief executive failed to overturn his suspension, worsening the turmoil at the company. Africa's most advanced economy is suffering its most severe power shortage since 2008 as state-owned Eskom struggles to keep the lights on. "The application is struck...

  • 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...

  • Private equity investors pile into Africa Tuesday, 17 Mar 2015 | 2:24 PM ET
    Skyline of the business district of Lagos, Nigeria.

    Private equity firms are doing more deals in Africa to tap the continent's growing population and wealth.

  • *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...