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Business South Africa

  • *Inflation outlook unchanged, economists wary of rand. JOHANNESBURG, April 12- South Africa's debt downgrade to junk status and the finance minister's recent dismissal mean interest rates will be on hold until 2020 at least, a Reuters poll found on Wednesday. Economists in the poll, taken just a week after Fitch Ratings Agency and Standard& Poor's downgraded...

  • 'Markets underestimate Zuma's ability to survive'

    Alastair Newton, Alavan Business Advisory, says South African President Jacob Zuma remains in control of his African National Congress (ANC) party.

  • LONDON- British Finance Minister Philip Hammond and Bank of England Governor Mark Carney will speak at London FinTech conference 0930 GMT. OTTAWA, Canada- Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins will appear in House of Commons Standing Committee on Finance in Ottawa 2015 GMT. FORT WORTH, Texas- Federal Reserve Bank of...

  • LONDON- British Finance Minister Philip Hammond and Bank of England Governor Mark Carney will speak at London FinTech conference 0930 GMT. OTTAWA, Canada- Bank of Canada Governor Stephen Poloz and Senior Deputy Governor Carolyn Wilkins will appear in House of Commons Standing Committee on Finance in Ottawa 2015 GMT. FORT WORTH, Texas- Federal Reserve Bank of...

  • JOHANNESBURG, April 11- Ratings agency Fitch downgraded five South African banks on Tuesday in a widely expected move, days after it cut the country's credit rating to sub-investment grade. The moves follow S&P Global Ratings, which also cut South African foreign debt to "junk" status and then downgraded major banks in the wake of a cabinet reshuffle that saw...

  • JOHANNESBURG, April 11- Barclays' plan to sell its African business and pull out of the continent are being hindered by South Africa's political upheaval and credit-rating downgrades, according to banking sources and fund managers. It had been planning another accelerated bookbuild in the last two weeks but pushed it back because of concerns over investor...

  • **BRUSSELS Governor of Bank of Italy Visco speaks before economic committee of EU parliament 1500 GMT. MINNEAPOLIS- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in a question-and-answer session as part of a Minnesota Business Partnership meeting- 1745 GMT. WASHINGTON- Bank of America Merrill Lynch Auto Summit- 1200. BRAZIL-...

  • **BRUSSELS Governor of Bank of Italy Visco speaks before economic committee of EU parliament 1500 GMT. MINNEAPOLIS- Federal Reserve Bank of Minneapolis President Neel Kashkari participates in a question-and-answer session as part of a Minnesota Business Partnership meeting- 1745 GMT. WASHINGTON- Bank of America Merrill Lynch Auto Summit- 1200. BRAZIL-...

  • MONDAY, APRIL 10 MELBOURNE, Australia- Federal Reserve Bank of St. Louis President James Bullard gives a presentation on the U.S. economy and monetary policy before the Monash University International Distinguished Lecture event 0305 GMT. ANN ARBOR, U.S. state of Michigan- Federal Reserve Chair Janet Yellen participates in a discussion with Gerald R. Ford...

  • MONDAY, APRIL 10 MELBOURNE, Australia- Federal Reserve Bank of St. Louis President James Bullard gives a presentation on the U.S. economy and monetary policy before the Monash University International Distinguished Lecture event 0305 GMT. ANN ARBOR, U.S. state of Michigan- Federal Reserve Chair Janet Yellen participates in a discussion with Gerald R. Ford...

  • CERNOBBIO, Italy- Executive Board Member Yves Mersch participates in a panel discussion "The Agenda for Europe" at Ambrosetti's Finance Forum on "The Outlook for the Economy and Finance" in Villa d'Este, Cernobbio, Italy 0730 GMT. SUNDAY, APRIL 9 MELBOURNE, Australia- Federal Reserve Bank of St. Louis President James Bullard gives a presentation on the U.S. economy...

  • CERNOBBIO, Italy- Executive Board Member Yves Mersch participates in a panel discussion "The Agenda for Europe" at Ambrosetti's Finance Forum on "The Outlook for the Economy and Finance" in Villa d'Este, Cernobbio, Italy 0730 GMT. SUNDAY, APRIL 9 MELBOURNE, Australia- Federal Reserve Bank of St. Louis President James Bullard gives a presentation on the U.S. economy...

  • PRAGUE- Czech National Bank to publish the minutes from the March governing board meeting. CEBU, Philippines- Asean Finance and Central Bank Deputies Meeting. CEBU, Philippines- Asean Finance and Central Bank Deputies Meeting.

  • PRAGUE- Czech National Bank to publish the minutes from the March governing board meeting. CEBU, Philippines- Asean Finance and Central Bank Deputies Meeting. CEBU, Philippines- Asean Finance and Central Bank Deputies Meeting.

  • JOHANNESBURG, April 6- South Africa's rand will be relatively stable against the dollar for the rest of 2017 as the impact of Finance Minister Pravin Gordhan's shock dismissal and a credit rating cut to "junk" is already priced in, a Reuters poll found on Thursday. The rand is expected to weaken from a current 13.7375 per dollar to 14.00 in 12 months' time, 8 cents...

  • JOHANNESBURG, April 6- South Africa's rand will be relatively stable against the dollar for the rest of 2017 as the impact of Finance Minister Pravin Gordhan's shock dismissal and a credit rating cut to "junk" is already priced in, a Reuters poll found on Thursday. The rand is expected to weaken from a current 13.7375 per dollar to 14.00 in 12 months' time, 8 cents...

  • *Miners say they are saving jobs, creating different roles. SANTIAGO/ LONDON, April 6- Mining companies chasing the kind of technological breakthroughs made long ago in the manufacture of cars and mobile phones have unveiled eye-catching innovations ranging from vast drills and remote-controlled trucks to second-by-second data analysis.

  • LONDON, April 5- If South Africa loses two of its prized investment grade credit ratings for foreign and local currency borrowing in the turmoil triggered by the sacking of the finance minister, the country could lose more than $10 billion in investment funds. Moody's later placed South Africa on review for downgrade. Being downgraded to junk by at least two...

  • ADM said in a statement it had informed staff it was "proposing discontinuing our South Africa merchandising operations, following the legally required employee consultation process." The company said this related to its global trade desk operations in Johannesburg, adding it would continue activities related to its Golden Peanut and Tree Nuts food...

  • *Rand, bonds fall after ANC back Zuma. JOHANNESBURG, April 5- South Africa's African National Congress "closed ranks" around President Jacob Zuma after two key allies of the ruling party called for his resignation following a cabinet reshuffle that cost the country one of its investment-grade credit ratings. Last Thursday's dismissal of finance minister...