Business News South Africa

  • JOHANNESBURG, Oct 14- The South African rand on Monday retreated from a three-week high it hit in the previous session, as a lack of clarity on U.S.- China trade relations pushed investors back to safe havens and hurt risk appetite. But optimism was tempered on Monday after a Bloomberg report- that China wants further talks with the United States before signing...

  • *reuters:// realtime/verb= Open/url= cpurl:// apps.cp./ Apps/econ-polls? RIC= ZAGDPQP South Africa poll data. JOHANNESBURG, Oct 14- Sub-Saharan Africa's economy will accelerate going into next year but could be derailed as the world moves onto an uncertain path that could bring an end to the recent synchronised uptrend, a Reuters poll showed on Monday.

  • LONDON, Oct 14- South Africa's embattled state-owned airline is open to outside investment and in talks with a number of potential partners, President Cyril Ramaphosa said on Monday. The economy of the African continent's most industrialised nation has come under ever growing pressure as the government grapples with lacklustre growth, high unemployment...

  • LONDON, Oct 14- South Africa is working to restore its institutions and secure private investment in order to grow the economy, President Cyril Ramaphosa told the Financial Times Africa Summit in London on Monday. Ramaphosa, whose nation is struggling to gain economic growth momentum, also said they are open to outside investment in ailing state-owned carrier...

  • JOHANNESBURG, Oct 11- South Africa's rand powered to a 3- week best on Friday as emerging market currencies were boosted by thawing trade tensions between United States and China. China and the U.S are in the second day of top-level negotiations aimed at rolling back tensions between the world's two largest economies. Risk demand globally was also soothed by...

  • Oct 11- Hopes of a breakthrough in U.S.- China trade talks put emerging- market stocks on course for their biggest percentage gain in a month on Friday, while South Africa's rand, the Korean won and the Chinese yuan all gained as the dollar weakened. The MSCI index of developing world stocks jumped 1% and the trade-sensitive stocks of South Korea, Hong Kong and India...

  • JOHANNESBURG, Oct 11- South Africa's Denel is winding up its struggling Aerostructures aircraft parts business after receiving government approval, the state arms company said on Friday. Denel, a cornerstone of South Africa's once-mighty defense industry, is battling to emerge from a financial crisis and has pledged to shutter loss-making divisions.

  • CAPE TOWN, Oct 10- New currency controls enforced by the Bank of Central African States could ruin the oil and gas industry in the Gulf of Guinea and "destroy" Equatorial Guinea's economy, the country's oil minister told Reuters on Wednesday. Equatorial Guinea, a small West African member of the Organization of the Petroleum Exporting Countries, derives more than...

  • DAR ES SALAAM, Oct 10- Tanzania's earnings from gold exports rose 25.1% in the year to August, buoyed by higher output of the precious metal, its central bank said on Thursday. Gold exports fetched $1.91 billion in the year ending August 31, up from $1.53 billion the previous year. Africa's fourth-biggest gold producer after South Africa, Ghana and Mali hopes its...

  • HARARE, Oct 9- Zimbabwe hiked its average electricity tariff by 320% on Wednesday to ramp up power supplies at a time of daily blackouts, but the move will anger consumers already grappling with soaring inflation that is eroding their earnings. The southern African nation is experiencing its worst economic crisis in a decade, seen in triple-digit inflation, 18-...

  • HARARE, Oct 9- Zimbabwe hiked its average electricity tariff by 320% on Wednesday to ramp up power supplies at a time of daily blackouts, but the move will anger consumers already grappling with soaring inflation that is eroding their earnings. The southern African nation is experiencing its worst economic crisis in a decade, seen in triple-digit inflation, 18-...

  • MAPUTO, Oct 8- Exxon Mobil plans to invest more than $500 million in the initial construction phase of its liquefied natural gas project in Mozambique. "The Area 4 partners will advance midstream and upstream area project activities of more than $500 million as initial investments," Exxon head of power and gas marketing Peter Clarke told a ceremony in...

  • Seeking to better compete with bigger rivals Amazon Web Services and Microsoft Corp, the move will also help transition Oracle's business software for finance, sales and other functions to new systems over the next year. Jobs will be added in Oracle's software development hubs in Seattle, the San Francisco Bay Area and India, as well as near new data centers, said...

  • GEORGE SAYS WOULD BE REALISTIC TO ACCEPT FLUCTUATIONS BY AS MUCH AS 100 PBS AROUND FED'S 2% TARGET.

  • FED' S GEORGE SAYS IN CURRENT CIRCUMSTANCES, CONCERN ABOUT LOW INFLATION SEEMS UNNECESSARY.

  • FED' S GEORGE SAYS MUTED INFLATION WOULD NOT WARRANT POLICY RESPONSE UNLESS DOWNSIDE RISKS MATERIALIZE.

  • LONDON, Oct 6- Vodafone is testing innovative open access radio technology in Britain- a first for Europe- in a move that could break the grip Huawei, Ericsson and Nokia hold on the telco equipment market. Vodafone, the world's second largest mobile operator, has trialled the technology in laboratories in South Africa and deployed it in Turkey to deliver 2 G and 4 G...

  • KAMPALA, Oct 4- Uganda's central bank has licensed two new banks, bringing the total number of commercial lenders serving the East African country's small economy to 26.. The banks join a market which some analysts say already has too many players for a $26- billion- economy and includes a local unit of South Africa's Standard Bank, which dominates the market.

  • KAMPALA, Oct 4- Uganda's central bank has licensed two new banks, bringing the total number of commercial banks serving the East African country's small economy to 26, including a local unit of South Africa's Standard Bank which dominates the market. The regulator has granted commercial licenses to Afriland First Bank Uganda Limited and Opportunity Bank...

  • JOHANNESBURG, Oct 4- South Africa's cash-strapped public broadcaster will get a 3.2 billion rand government bailout, but will need to meet preconditions including identifying assets to sell, the communications ministry said on Friday. Minister of Communication and Digital Technologies Stella Ndabeni-Abrahams said the South African Broadcasting...