*China cuts new benchmark rate for a second month. Sept 20- A surge in Indian shares led emerging markets higher on Friday, after the government announced deep cuts in corporate taxes to revive flagging growth, while a widely expected domestic interest rate cut from China added to the chipper mood. Adding to stimulus hopes was a cut in China's key domestic lending...
JOHANNESBURG, Sept 19- Payments company Net1 UEPS Technologies said on Thursday it had written down to zero the value of its stake in South Africa's third-largest mobile network, Cell C, alongside the carrier's largest shareholder, Blue Label Telecoms. Blue Label has, as the head of a group of investors including Net1, been trying to dig Cell C out from under hefty...
LONDON, Sept 18- Virgin Atlantic said on Wednesday it is hoping to add over 80 new routes to its network after a third runway is built at London's Heathrow Airport to challenge British Airways owner IAG's dominance at the airport. "Heathrow has been dominated by one airline group for far too long," said Shai Weiss, chief executive at Virgin Atlantic.
UNITED NATIONS, Sept 16- As some world leaders question whether the world is facing a climate emergency, more than a dozen cities are stepping up to tackle global warming and sustainable development and will next week pledge to report their progress to the United Nations. Sixteen cities will commit to implementing global goals to end poverty, inequality and...
UNITED NATIONS, Sept 16- As some world leaders question whether the world is facing a climate emergency, more than a dozen cities are stepping up to tackle global warming and sustainable development and will next week pledge to report their progress to the United Nations. Sixteen cities will commit to implementing global goals to end poverty, inequality and...
LONDON, Sept 16- Shares in African diamond miner Petra Diamonds hit an all-time low on Monday after it missed forecasts with a 22% fall in annual profit, as a Sino-U.S. trade row and protests in Hong Kong dented demand in big Asian markets. Petra's share price fell to an all-time low of 7.25 pence, recovering slightly to trade down 8% by 0830 GMT at 7.45 pence.
*Bleak China data raises stimulus hopes from Beijing. Further inflaming geopolitical tensions in the region, Trump said the United States was "locked and loaded" for a potential response to the strikes. "Emerging market FX would be the immediate casualty, especially those affected by large oil import bills, with flight to safety expected to support gold and...
*China, S.Korea, Taiwan markets shut for holiday. Sept 13- Developing world currencies rose for the eighth straight session on Friday to a near six-week high on signs of a thaw in U.S.- China trade tensions and monetary easing in the euro zone and Turkey. China resumed purchased of U.S. farm products, a move seen as a goodwill gesture before trade talks next month.
JOHANNESBURG, Sept 12- South Africa's market regulator is fining retailer Steinhoff 53 million rand for making "false, misleading or deceptive statements" to the market, the company said on Thursday. Steinhoff revealed an accounting fraud in December 2017 that shocked investors and wiped more than 200 billion rand off its stock market value.
PARIS, Sept 12- At least five nuclear reactors operated by French utility EDF might have problems with weldings on their steam generators, a fault which has raised fears of closures, France's nuclear regulator was quoted as saying. France has the world's second-largest fleet of nuclear reactors behind the United States, but a spate of technical problems,...
Sept 12- Emerging market assets rose on Thursday as investors took heart from tariff concessions made by the United States and China, while bracing for the likely next wave of monetary easing from central banks including those in the euro zone and Turkey. President Donald Trump on Wednesday welcomed China's decision to exempt some U.S. anti-cancer drugs and...
Reactor closures, if they were to happen, would impact power generation in France, which depends heavily on nuclear power, and, potentially in European countries that import electricity from France. France has the world's second-largest fleet of nuclear reactors behind the United States. It has exported its technology to China, Finland, South Africa and South...
JOHANNESBURG, Sept 11- Britain has agreed a deal with six southern African countries including South Africa, the continent's most developed economy, that will ensure continuity of trade conditions after Brexit, the British High Commission in South Africa said on Wednesday. But while the situation has left the future trade relationship between Britain and...
*Prosus becomes 3rd biggest stock on Amsterdam exchange. AMSTERDAM, Sept 11- Shares in Prosus, a spin-off from Naspers that includes the e-commerce group's 31% stake in Chinese tech giant Tencent, surged more than 25% on their stock market debut in Amsterdam on Wednesday, creating one of Europe's largest internet companies. "The idea with today's listing is...
*China stocks lag broader market, end lower. Mainland China stocks lagged, ending lower despite the scrapping of quota restrictions in two major inbound investment schemes on Tuesday, as conflicting signals over progress in U.S.- China trade negotiations kept investors on the sidelines. In a conciliatory gesture, China said it would exempt 16 types of U.S....
MADRID, Sept 11- The world's biggest fashion retailer, Inditex, reported strong first-half sales growth on Wednesday, buoyed by good summer weather in Europe, while confirming its sales targets for the full year. E-commerce giant Amazon has become the most-shopped clothing retailer in the United States, measured by the number of customers, according to...
Sept 11- Gold prices edged up on Wednesday, but hovered near a four-week low hit in the previous session as risk appetite improved amid hopes of an interest rate cut by the European Central Bank and fiscal stimulus measures from Germany, Europe's largest economy. *A senior White House adviser tamped down expectations on Tuesday for the next round of U.S.- China...
*Naspers set to list Prosus subsidiary in Amsterdam. The spin-off in Amsterdam marks the end of an era for Naspers as it looks to move beyond the legacy of former Chief Executive Koos Bekker's prescient investment of just $34 million in Tencent when it was a startup in 2001, one of the most lucrative bets in corporate history. That would make it the third-largest...
*Naspers set to list' Prosus' subsidiary in Amsterdam. The spin-off in Amsterdam marks the end of an era for Naspers as it looks to move beyond the legacy of former CEO Koos Bekker's prescient investment of just $34 million in Tencent when it was a startup in 2001, one of the most lucrative bets in corporate history. Due to that holding, Prosus should have a market...
JOHANNESBURG, Sept 10- South Africa is unlikely to suffer a credit downgrade to junk in the short term, but the slow pace of reform illustrated by a logjam over ailing state power firm Eskom poses a serious risk, ratings firm Moody's said on Tuesday. Moody's is the last of the top three ratings firms to still rank Pretoria's debt at investment grade- Baa3 with a stable...
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