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Business South Africa

  • JOHANNESBURG, Sept 12- Sim Tshabalala has become the first black person to lead Africa's largest bank by assets without sharing power, after his co-CEO stood down, South Africa's Standard Bank said on Tuesday. Tshabalala, a lawyer, was appointed alongside Ben Kruger in 2013 to sharpen the company's Africa focus and clean up a costly blunder by then chief...

  • JOHANNESBURG, Sept 12- Sim Tshabalala became the first black person to lead Africa's largest bank without sharing power when his co-CEO stood down from South Africa's Standard Bank on Tuesday. Tshabalala, a lawyer, was appointed alongside Ben Kruger in 2013 to sharpen the company's Africa focus and clean up a costly blunder by then chief executive Jacko Maree...

  • DAR ES SALAAM, Sept 7- Tanzanian President John Magufuli has ordered a review of a Petra Diamonds Ltd contract and asked senior public officials to resign over the outcome of an investigation into the mining sector, he said on Thursday. The company's shares fell as much as 3.5 percent, but had trimmed losses to trade down 1 percent at 90 pence by 1516 GMT.

  • DAR ES SALAAM, Sept 7- Tanzanian President John Magufuli has ordered a review of a Petra Diamonds Ltd contract and asked senior public officials to resign over the outcome of a probe into the mining sector, he said on Thursday. The company's shares fell as much as 3.5 percent, but had trimmed losses to trade down 0.9 percent at 90 pence by 1240 GMT.

  • BELGRADE- National Bank of Serbia interest rate decision. FRIDAY, SEPTEMBER 8 SYDNEY- Panel participation by Guy Debelle, deputy governor of the Reserve Bank of Australia, at the 2017 FINSIA Regulators Panel, Sydney 0300 GMT. SYDNEY- Reserve Bank of Australia Governor Philip Lowe will give speech at the Bank of China Sydney Branch's 75th Anniversary Celebration...

  • *Events in Washington played larger role in gold rally- Goldman. NEW YORK/ JOHANNESBURG, Sept 5- Gold prices climbed to a one-year high on Tuesday as the U.S. dollar eased and safe-haven buying demand remained robust due to continued concerns over North Korea's nuclear tests. South Korea said an agreement with the United States to scrap a weight limit on its...

  • LONDON, Sept 5- PR agency Bell Pottinger lost its contract with banking giant HSBC and saw its second-biggest shareholder walk away on Tuesday after it was thrown out of an industry body for running a racially-charged campaign in South Africa. "We can confirm that we no longer have a stake in Bell Pottinger," a Chime spokesman said in a statement.

  • *Wall Street lower in first trading since N.Korea nuclear test. NEW YORK, Sept 5- Wall Street stocks fell on Tuesday as U.S. trading reopened for the first time since North Korea's biggest nuclear bomb test yet, and the U.S. dollar and Treasury yields fell. The drop in major U.S. markets, which had been closed for Monday's Labor Day holiday, followed that day's global...

  • LONDON, Sept 5- Leading PR agency Bell Pottinger was thrown out of its British industry association on Tuesday and lost global banking giant HSBC as a client over a campaign judged to have deliberately stoked racial tensions in South Africa. The trade association, which represents 400 businesses and 20,000 individuals, found that Bell Pottinger had backed a...

  • JOHANNESBURG, Sept 5- South African retailer Shoprite's shareholders approved a buyback of former chief executive Whitey Basson's shares for 1.75 billion rand, the company said on Tuesday. The deal, one of the biggest executive handshakes yet in South Africa, was approved by more than 95 percent at an extraordinary general meeting of the shareholders in...

  • JOHANNESBURG, Sept 5- Gold eased on Tuesday as investors booked profits after the previous session's rise to a one-year high, though prices remain underpinned by safe-haven demand because of continued concern over North Korea's nuclear posturing. South Korea said an agreement with the United States to scrap a weight limit on its warheads would help it to...

  • LONDON, Sept 5- Bell Pottinger, one of Britain's best-known PR agencies, has been expelled from the industry's trade association over a campaign judged to have deliberately stoked racial tensions in South Africa. The association, which represents 400 businesses and 20,000 individuals, found that Bell Pottinger had backed a campaign that played on race...

  • HARARE/ JOHANNESBURG, Sept 5- In January, a photograph appeared in Zimbabwe's media showing Vice President Emmerson Mnangagwa enjoying drinks with a friend. According to politicians, diplomats and a trove of hundreds of documents from inside Zimbabwe's Central Intelligence Organization reviewed by Reuters, Mnangagwa and other political players have been...

  • LONDON, Sept 5- Bell Pottinger, one of Britain's best-known PR agencies, has been expelled from the industry's trade association over a campaign judged to have deliberately stoked racial tensions in South Africa. Bell Pottinger was being paid 100,000 pounds a month by Oakbay, the holding company of the Indian-born Gupta family, which has been accused of using...

  • Chinese President Xi Jinping attends the plenary session during the BRICS Summit at Xiamen International Conference and Exhibition Centre on September 4, 2017 in Xiamen, China.

    China's leader appeared to take swipe at Donald Trump's "America First" policies by noting some countries are turning "inward-looking."

  • South Africa's factions need to strive for stability and avoid protests in order to revive the economy, says André Duvenhage, political science professor, North-West University in South Africa

  • India has some security concerns that make New Delhi cautious on regional economic cooperation with China, says Eswar Prasad, professor, Cornell University.

  • TUESDAY, SEPTEMBER 5 BRISBANE, Australia- Remarks by Philip Lowe, governor of the Reserve Bank of Australia, at Reserve Bank Board Dinner. BUDAPEST- Hungarian Central Bank holds non-rate-setting meeting. BRISBANE, Australia- Reserve Bank of Australia monetary policy decision meeting- 0430 GMT.

  • JOHANNESBURG, Aug 31- The bodies of the last two miners unaccounted for at a mine operated by South Africa's Harmony Gold were recovered on Thursday, the company said, bringing the death toll to five after a tremor shook the shafts last week. Friday's seismic event that rocked the Kusasalethu mine, one of the world's deepest, with gold extracted at depths below 3...

  • STELLENBOSCH, South Africa, Aug 31- A budget bank is booming in South Africa's economic slump, challenging the decades-long dominance of the "big four" lenders and prompting a price war that is driving down banking costs in a country where many people can't afford an account. Capitec Bank has doubled its customer numbers over the past five years and quadrupled in...