Business South Africa

  • *Graphic of poll results: http://tmsnrt.rs/2e7JFpt. Jan 18- The global economic outlook remains shaky, despite recent pockets of resilience, according to the overwhelming majority of economists polled by Reuters who said a rise in protectionist trade policies would hamper growth. That uncertainty is heightened by the signs of a rise in nationalist...

  • **Exxon Mobil Corp said it will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States. **Germany's Lufthansa is not in talks about Etihad Airways taking a stake in the German airline, two sources familiar with the matter said on Tuesday, denying an Italian newspaper report that said it...

  • **Germany's Lufthansa and Etihad Airways are in talks to possibly merge the two airlines, Italian daily Il Messaggero said in an unsourced report. **Portag3 Ventures, a financial technology fund backed by Canada's Power Financial Corp, has invested an undisclosed amount in finance startup Street Contxt, Portag3's president said in an interview on Monday.

  • LONDON, Jan 17- Carlyle Group has agreed to become the largest shareholder in Johannesburg- based Global Credit Ratings, the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency's services. Carlyle raised $698 million for its Africa buyout fund in 2014, exceeding its $500 million target. Founded more than two decades ago as the...

  • LONDON, Jan 17- Carlyle Group has agreed to buy Johannesburg- based Global Credit Ratings, the U.S. buyout fund said on Tuesday, looking to broaden the pan-African ratings agency's services. GCR serves 400 customers across 20 countries and is the only ratings agency to have a strong presence in multiple geographies across Africa, Carlyle said.

  • JOHANNESBURG— The South African unit of the Ford Motor Company says it is recalling 4,556 Kuga vehicles following several dozen reports of the car catching fire. Jeff Nemeth, Ford's regional chief executive, said Monday that 1.6- liter Kugas made between December 2012 and February 2014 must be taken to a Ford dealer as soon as possible. Ford held a joint news...

  • NEW YORK, Jan 15- Twice a day, Scott Ozawa's Bluetooth-enabled toothbrush tells his dental insurer if he brushed for a full two minutes. "It's not expected today, but in the near future it will be used to penalize people," said Mitchell Wein at Novarica Inc, who advises clients on insurance technology. Insurers recognize the dangers but consumers have nothing to fear,...

  • NEW YORK, Jan 15- Twice a day, Scott Ozawa's Bluetooth-enabled toothbrush tells his dental insurer if he brushed for a full two minutes. "It's not expected today, but in the near future it will be used to penalize people," said Mitchell Wein at Novarica Inc, who advises clients on insurance technology. Insurers recognize the dangers but consumers have nothing to fear,...

  • *Absa, unit of Barclays Africa, may have to pay $166 mln. JOHANNESBURG, Jan 13- South Africa's anti-graft watchdog has reopened an investigation into whether Barclays Africa Group benefited from an apartheid-era bailout, the bank said on Friday. Former Public Protector Thuli Madonsela instituted the follow-up investigation after a 2010 complaint by Paul...

  • *Spot gold eased 0.1 percent to $1,193.38 per ounce by 0041 GMT. Bullion on Thursday touched a high of $1,206.98, its best since Nov. 23. *Federal Reserve Chair Janet Yellen did not comment on the outlook for the U.S. economy or monetary policy in remarks to teachers, saying improving U.S. education could help raise living standards.

  • JOHANNESBURG/ LONDON, Dec 15- Anheuser-Busch InBev will sell its stake in South Africa's Distell Group to state-owned pension fund Public Investment Corp, it said on Thursday, as agreed during its takeover of SABMiller. South Africa's Competition Commission made the disposal a condition of the $100 billion takeover. Distell's other large shareholders,...

  • South Africa, which has the continent's only nuclear power station, has earmarked nuclear expansion as the centrepiece of a plan to increase power generation to ease the country's reliance on an ageing fleet of coal-fired plants and has asked Eskom to procure an additional 9,600 megawatts of capacity. Russia's Rosatom is expected to be among the bidders,...

  • JOHANNESBURG, Dec 12- South Africa- focused platinum miner Lonmin is confident of submitting a plan to build workers' housing that meets government requirements, it said on Monday, after President Jacob Zuma threatened to revoke its mining permit if it failed to do so. To secure a mining license, mining companies must submit a plan for housing and living...

  • LONDON, Dec 7- British finance minister Philip Hammond will seek to reassure some of the country's trade and investment partners that Brexit will not hurt them when he travels to South Africa on Wednesday and to Japan and South Korea next week. During his visit to Japan- which has expressed concerns about the implications of Brexit for its companies- Hammond is...

  • JOHANNESBURG, Dec 3- President Jacob Zuma moved to reassure foreign investors on Saturday after all three major rating agencies kept South Africa's investment-grade status, granting the scandal-prone leader a reprieve after prolonged political turmoil. S&P Global Ratings downgraded the local debt of Africa's most industrialized country by one notch on...

  • *Four ministers had urged Zuma to step down- local media. *ANC says reaffirms Zuma's presidency. JOHANNESBURG, Nov 29- South Africa's ruling African National Congress said on Tuesday its executive committee stood by President Jacob Zuma in a debate about whether he should step down after several officials called for his resignation.

  • *ANC says stands by Zuma, reaffirms his presidency. JOHANNESBURG, Nov 29- South Africa's ruling African National Congress said on Tuesday its executive committee had stood by President Jacob Zuma in a debate called after media reported that four ministers had demanded his resgination. The rand fell by as much as 2.5 percent against the dollar and bonds weakened...

  • JOHANNESBURG- South African Finance Minister Pravin Gordhan will engage business leaders in a closed pre- World Economic Forum meet- 0800 GMT. STOCKHOLM- Riksbank Deputy Governor Martin Floden talks about monetary policy and the economic situation- 0735 GMT. BERLIN- German Chancellor Angela Merkel, World Bank Group President Jim Yong Kim, German Finance...

  • STOCKHOLM- Riksbank Deputy Governor Martin Floden talks about' The Search for Growth- The Financial System and the Real Economy'- 0815 GMT. BRUSSELS- European Central Bank President Mario Draghi gives introductory statement at the quarterly hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels- 1400 GMT.

  • STOCKHOLM- Riksbank Deputy Governor Martin Floden talks about' The Search for Growth- The Financial System and the Real Economy'- 0815 GMT. BRUSSELS- European Central Bank President Mario Draghi gives introductory statement at the quarterly hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels- 1400 GMT.