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Over $40 million of fuel stolen from Shell refinery, Singapore court docs show

12h47 Singapore authorities have levied new charges against a group of fuel thieves operating at Royal Dutch Shell's oil refinery in the city-state, raising the value of the stolen fuel to over $40 million from around $10 million in earlier charges, according to court documents reviewed by Reuters on Tues  Full story

South Africa's finmin Nene says outlook for tax revenues unchanged

10h50 South Africa Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit.  Full story

South Africa agrees modest wage deal with state workers

21/05 South Africa's public sector workers will see their pay rise by slightly more than inflation after the government -- which is struggling to curb a large budget deficit -- clinched a three-year wage deal with unions that had threatened to call a strike.  Full story

Most Read This Week

Steinhoff flags H1 loss as restructuring wipes out sales gain

18/05 South African retailer Steinhoff, which has been embroiled in an accounting scandal, expects to report a first-half net loss as costs related to restructuring, losses on asset sales and litigation offset a rise in revenues.  Full story

South Africa's Murray & Roberts agrees to buy Aveng

18/05 South African-based Murray & Roberts has agreed to buy construction firm Aveng Limited, although its biggest shareholder ATON said it will not support the one billion rand ($78.5 million) takeover.  Full story

South Africa agrees modest wage deal with state workers

21/05 South Africa's public sector workers will see their pay rise by slightly more than inflation after the government -- which is struggling to curb a large budget deficit -- clinched a three-year wage deal with unions that had threatened to call a strike.  Full story

 

SA Business

South African rand recovers on retreating dollar

17h47 South Africa's rand staged a modest recovery on Tuesday, as the dollar retreated after a recent rally.. . .  Full story

Trencor final results December 2017

15h39 Revenue for the year lowered to R8.3 billion (R9.4 billion) whilst operating profit turned around to R1.0 billion (loss of R2.4 billion). Loss for the year attributable to equity holders narrowed. . .  Full story

AEEI interim results February 2018

11h18 Revenue for the interim period increased to R604.4 million (2017: R454.9 million). Gross profit grew to R225.2 million (2017: R167 million). Total comprehensive income attributable to equity holders of the parent. . .  Full story
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SA Company

ATON attempts to torpedo Murray Roberts-Aveng tie-up

10h32 German investment house ATON has raised its stake in takeover target Murray & Roberts to nearly 40 percent, it said on Tuesday, giving it a large enough holding to scupper the South African builder's tie-up. . .  Full story

ATON raises stake in South African target Murray & Roberts to 40 pct

09h32 German investment house ATON has raised its stake in South African builder Murray & Roberts to nearly 40 percent, it said on Tuesday.. . .  Full story

Pioneer Foods' earnings growth rebounds in first half

21/05 South Africa's Pioneer Foods Group reported a rebound in profit growth in the first half of its financial year driven by strong sales volumes of breakfast cereals and its long-life fruit juices.. . .  Full story
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World News

In bipartisan effort, two U.S. lawmakers ask Trump to be tough on ZTE

21h07 Two U.S. lawmakers, including the Republican chairman of a powerful House of Representatives committee, asked President Donald Trump on Tuesday not to lift penalties on Chinese telecommunications company ZTE Corp .  Full story

At least nine dead after police fire on protesters at Indian copper smelter

20h52 At least nine people were killed in India's Tamil Nadu state on Tuesday when police fired at violent protesters calling for the closure of a copper smelter run by Vedanta Resources, authorities said.  Full story

Emerging market resiliency tested as global rates rise -IIF

20h51 The Institute for International Finance said on Tuesday it is worried about the resiliency of emerging markets given how vulnerable the asset class has been to a "moderate rise" in global funding costs.  Full story
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Europe

Raw sugar at five-week high on India buffer stocks plan

19h49 Raw sugar futures on ICE extended gains to reach the highest in more than five weeks on Tuesday, with the market underpinned by news that No. 2 grower India could build up government stockpiles. . .  Full story

Former Barclays banker tells court he cannot recall Euribor requests

19h29 A former Barclays banker charged with conspiring to manipulate Euribor benchmark interest rates told a London court on Tuesday that he could not remember receiving requests from traders for rates that would benefit their trading. . .  Full story

U.N. seeks help of oil traders to enforce North Korea sanctions

19h05 A U.N. monitoring group wants to enlist the help of the world's biggest oil trading companies to enforce sanctions that cap the amount of crude and related products North Korea can import, the coordinator. . .  Full story
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US

EXCLUSIVE-GE seeking to shed troubled insurance business -sources

20h45 General Electric Co is working with investment bankers to find ways to shed its insurance business, which has caused it to book hefty charges while sparking shareholder lawsuits and an investigation by U.S. regulators, people. . .  Full story

OPEC may decide to ease oil supply curbs in June - sources

20h40 OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC and oil. . .  Full story

Trump floats large fine, management changes for China's ZTE

20h37 U.S. President Donald Trump on Tuesday floated a plan to fine ZTE Corp and shake up its management as his administration considered rolling back more severe penalties that have crippled the Chinese telecommunications company.. . .  Full story
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Asia

State Bank of India sees rebound after record $1.1 bln Q4 loss

15h30 State Bank of India (SBI) projected a recovery over the next two years after a record 77.18 billion-rupee ($1.13 billion) fourth-quarter net loss following stricter central bank rules around bad loans, sending its shares to. . .  Full story

Singapore's Hyflux seeks court supervised reorganisation

15h19 Hyflux Ltd has applied to the country's high court to begin a reorganisation of its business after lower electricity prices hurt its finances, the water treatment company said on Tuesday.. . .  Full story

Emirates NBD boosts Dubai; Abu Dhabi, Saudi stocks also up

15h06 United Arab Emirates stocks led regional gains on Tuesday, with Dubai's market bolstered by a surge in Emirates NBD after it agreed to buy Turkish lender Denizbank for $3.2 billion.. . .  Full story
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Forex

U.S. dollar at risk for weakness - Rafiki Capital's Englander

20h34 The buoyant U.S. dollar is not as robust as it should be and looks vulnerable to a sharp drop in value against other major currencies, veteran currency strategist Steven Englander said on Tuesday during. . .  Full story

Global stocks little changed amid U.S. profit-taking, Europe rally, China moves

20h19 World stock markets were little changed on Tuesday as Wall Street investors locked in recent gains even as European shares approached four-month peaks and China moved to further open up its economy.. . .  Full story

Gold steadies as dollar rally comes off the boil

20h01 Gold steadied just above a 2018 low on Tuesday as the U.S. dollar fell from a five-month high, although risk appetite in the broader financial markets kept the metal's gains in check.. . .  Full story
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Africa

Angola cuts tax rates for development of marginal oil fields

09h53 Angola has halved headline tax rates for marginal oil fields as part of a series of laws to drive investment and reverse declining output in Africa's second largest crude producer.. . .  Full story

Drought, armyworms cut Malawi maize crop by 19 pct - minister

21/05 Malawi's maize output declined by 19.4 percent in the 2017/18 farming year to 2.8 million tons due to damage caused by drought and crop-eating armyworms, Agriculture Minister Joseph Mwanamvekha said on. . .  Full story

Nigeria's economic growth slows for first time since end of recession

21/05 Nigeria's economic growth slowed in the first quarter of 2018 for the first time since the country pulled out of recession last year as the non-oil sector struggled, the National Bureau. . .  Full story
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