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Business South Africa

  • Tom Brady of the New England Patriots looks on after the Patriots 27-10 win over the Washington Redskins on November 8, 2015 in Foxboro, Massachusetts.

    Here are some of the key stories CNBC is following this hour.

  • *Investors say Nigeria needs clearer, bold devaluation. *President Buhari is in London on medical leave. LAGOS/ LONDON, Feb 22- Nigeria's latest efforts to tweak its exchange rate policy have baffled investors who say the moves fall short of the currency devaluation they had hoped for and will not lure money back into the economy.

  • CANBERRA- Reserve Bank of Australia Governor Philip Lowe will appear at the House of Representatives Standing Committee on Economics. CHISINAU- National Bank of Moldova announces interest rate decision. ANKARA- Central Bank of the Republic of Turkey monetary policy meeting.

  • JOHANNESBURG, Feb 21- South Africa's rand weakened on Tuesday, while stocks were little changed, with Shoprite topping the Blue-chip index after the retailer reported a rise in half-year profit. The rand traded at 13.1475 per dollar at 1502 GMT, down 0.71 percent from Monday's New York close of 13.0550, while. "The main driver today has been quite significant...

  • *Pace of store openings to slow in Nigeria. JOHANNESBURG, Feb 21- South African retailer Shoprite reported a 15.5 percent jump in half-year profit on Tuesday, buoyed by sales growth in Angola and Nigeria, reassuring investors after a merger with Steinhoff foundered. Though sales in Nigeria was 60 percent higher than a year ago in the six months to the end of...

  • JOHANNESBURG, Feb 21- South African retailer Shoprite, which scrapped plans to merge with Steinhoff International on Monday, reported a 15.5 percent jump in half-year profit, buoyed by sharp sales growth in Angola and Nigeria. Sales in Angola surged 155 percent from a year ago, while Nigerian revenue jumped 60 percent. In South Africa, still the largest of the...

  • JOHANNESBURG— The surprise was finding that people dependent on candles, batteries, kerosene and fuel for generators in countries without a secure supply of electricity spend more on power than solar options. The founders of Dutch company Lumos knew they could do better: In Nigeria, for the cost of powering a small generator for two hours they offer enough solar...

  • South Africa, once a standout emerging market, is caught in the middle of a political hurricane that's adding to a downward economic spiral.

  • SINGAPORE- Federal Reserve Bank of Cleveland President Loretta Mester speaks on "View From the Federal Reserve" before the Global Interdependence Center "Central Bank Series: Singapore" event- 0115 GMT. SYDNEY- Reserve Bank of Australia Governor Philip Lowe to speak at the Australia-Canada Economic Leadership Forum- 2230 GMT. WARSAW- National Bank of Poland...

  • JOHANNESBURG— The London Stock Exchange says Nigeria's $1 billion Eurobond is eight times oversubscribed and demonstrates international confidence despite the oil-producing nation's economic woes. An exchange statement says it's "a strong statement of international investor interest in building exposure to Nigeria's economy."

  • CAIRO- Central Bank of Egypt monetary policy committee meeting. SYDNEY- Reserve Bank of Australia Governor Philip Lowe to speak at the Australia-Canada Economic Leadership Forum- 2230 GMT. WARSAW- National Bank of Poland monetary policy council meeting.

  • JOHANNESBURG, Feb 15 Reuters)- Mining company super profits appear to be back on the agenda as earnings stand to be turbo-charged by higher-than-expected prices for iron ore and other metals, while volumes are also likely to be strong. Iron ore has been the standout so far in 2017, and as the steel-making ingredient surged to its highest level in three year above...

  • BANGKOK- Bank of Thailand Governor Veerathai Santiprabhob and National Economic and Social Development Board head, Porametee Vimolsiri, to speak about the Thai economy- 0600 GMT. CAIRO- Central Bank of Egypt monetary policy committee meeting. SYDNEY- Reserve Bank of Australia Governor Philip Lowe to speak at the Australia-Canada Economic Leadership Forum-...

  • WARRI, Nigeria— Nigeria lost between $50 billion and $100 billion in oil revenues to militant attacks on installations last year, the country's petroleum minister said Tuesday. At their worst point, the attacks cut production to 1.2 million barrels a day— a loss of 1 million barrels a day, Ibe Kachikwu said in a video posted on social media. Kachikwu promised to work...

  • *Simon Henry, Sam Laidlaw, David Constable named as non-execs. LONDON, Feb 10- Rio Tinto has appointed three former senior managers from the energy industry to its board as non-executive directors, including Shell's departing CFO Simon Henry, the mining company said on Friday. Former Centrica chief executive Sam Laidlaw and ex-Sasol CEO David Constable will...

  • *Solid demand from China, SEAsia underpinning market. SINGAPORE, Feb 10- Many a swan song has been sung for thermal coal markets as renewable power generation and a push towards using more natural gas have gained traction. "We are pleased to see the improvement in thermal coal market dynamics on the back of supply cuts in China and sustained demand," said Febriati...

  • SINGAPORE, Feb 10- Many a swan song has been sung for thermal coal markets as renewable power generation and a push towards using more natural gas have gained traction. This year, strong demand growth in Asia's emerging markets will create a supply shortfall for the first time in at least half a decade. Consumption could even soon rise past the 2014 peak, according...

  • SYDNEY- Reserve Bank of Australia Governor Philip Lowe to speak at the A50 Australian Economic Forum dinner. MEXICO CITY- Central Bank of Mexico monetary policy statement. MANILA- Philippines Central Bank monetary policy meeting.

  • LUSAKA, Feb 8- Canada's First Quantum Minerals plans to invest over $1 billion in a new smelter and modernisation of a copper mine in Zambia, a senior Zambian official said on Wednesday, but the company said the investment was "very conditional." Zambia's high commissioner to South Africa Emmanuel Mwamba told Reuters by telephone that First Quantum Minerals...

  • Developing Africa's vast mineral resources to meet the needs of the resource-hungry economies of China and the rest of Asia. South Africa, the continent's mining powerhouse, is a case in point. However, in practice it means that any company considering investing in South Africa will effectively be forced to contribute 100 percent of the capital for only 74...