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Naspers' OLX unit to invest in Webuycars

18/09 OLX Group, a unit of South African e-commerce giant Naspers, said on Tuesday it would invest 1.4 billion rand ($94 million)in used car buying service Webuycars.  Full story

China to penalise $60 bln of U.S. imports in tit-for-tat move

18/09 China and the United States plunged deeper into a trade war on Tuesday after Beijing added $60 billion of U.S. products to its import tariff list in retaliation for President Donald Trump's planned levies on $200 billion worth of Chinese goods.  Full story

Oil gains 1 pct on signs OPEC not prepared to boost output

18/09 Oil futures rose more than 1 percent on Tuesday on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signaled an informal target near current levels.  Full story

Most Read This Week

South Africa to raise interest rates soon despite recession

13/09 South Africa's Reserve Bank will leave interest rates unchanged at 6.50 percent next week, 25 of 26 analysts predicted in a Reuters poll, after recent data showing the economy unexpectedly slipped into recession earlier this year.  Full story

South Africa's Naspers plans to spin off, list pay-TV unit

17/09 South Africa's Naspers unveiled plans on Monday to spin off and list separately its pay-TV unit, its first major move aimed at narrowing a discount between its market value and the value of its stake in Chinese technology giant Tencent.  Full story

Investec asset management spin off plan lifts shares

14/09 Investec cheered investors on Friday with plans to spin off its asset management unit in a surprise restructuring ahead of the departure after four decades of the South African firm's founder and chief executive.  Full story


SA Business

South Africa's rand gains as dollar falters, stocks flat

18/09 South Africa's rand gained on Tuesday as broad dollar weakness supported investor appetite for riskier assets after Washington imposed additional tariffs on Chinese imports and Beijing retaliated, escalating a trade dispute. . .  Full story

Master Plastics interim results August 2018

18/09 Revenue for the interim period increased to R243.6 million (2017: R236 million), gross profit grew to R52.6 million (2017: R52.5 million) and profit from operations decreased to R14.9 million (2017: R20.7. . .  Full story

South African utility Eskom delays completion of new strategy

18/09 South African power firm Eskom said on Tuesday it had delayed the date on which its new long-term strategy would be completed, potentially unsettling investors anxious for clues as to how. . .  Full story

SA Company

France's Lactalis gets go-ahead to reopen plant after tainted milk scandal

18/09 French authorities have given dairy giant Lactalis permission to resume selling baby milk from a factory that was closed after salmonella-contaminated milk produced there infected dozens of babies, the government said on Tuesday.. . .  Full story

South African fintech JUMO to expand in Asia with Goldman Sachs backing

18/09 South Africa-based financial technology firm JUMO plans to expand in high-growth Asian markets after securing the backing of Goldman Sachs in an equity funding round, the company's chief executive said.. . .  Full story

Uganda to renew operating licence of local unit of MTN Group

18/09 Uganda has agreed to renew the operating licence of the local unit of South African telecom company MTN Group, the state-run Uganda Media Centre said on Twitter on Tuesday.. . .  Full story

Live News Wire

Asian firms' confidence sinks to near 3-year low on trade war fears -Thomson Reuters/INSEAD

05h00 Confidence among Asian companies slumped to the weakest in almost three years in the third quarter as businesses feared blowback from a worsening global trade war, a Thomson Reuters/INSEAD survey showed.  Full story

BOJ keeps policy steady, sticks to rosy economic view

04h54 The Bank of Japan kept monetary policy steady on Wednesday and maintained its optimistic view on the economy, even as escalating global trade frictions clouded the outlook.  Full story

Nikkei nears 8-month highs; insurers rally after U.S. yields rise

04h42 Japan's Nikkei extended its gains to near eight-month highs on Wednesday as investors took heart from a strong performance in Wall Street despite lingering trade war concerns, with financial stocks rallying after U.S. yields jumped.  Full story


Shanghai copper jumps to 1-month high after China's measured tariff response

03h46 Shanghai copper prices rose sharply in early trade on Wednesday, tracking a jump in London in the previous session and hitting a one-month high as investors shrugged off an escalation of the U.S.-China trade row.. . .  Full story

COLUMN-Nickel's "electric premium" crushed by trade tensions: Andy Home

03h00 Nickel has finally succumbed to the base metals price rout.. . .  Full story

Nearing divorce, May seeks goodwill from EU to avoid disorderly Brexit

01h00 Prime Minister Theresa May said Britain and the European Union were nearing a divorce deal but called on the bloc to show "goodwill and determination" to avoid a disorderly Brexit and secure a close. . .  Full story


Japan exports rise as U.S.-bound shipments grow amid trade war fears

04h30 Japan's export growth accelerated in August from the previous month supported by stronger shipments to the United States, a sign the escalating trade friction between the Washington and Beijing has yet to hit Japanese trade.. . .  Full story

Hog deaths, manure flooding from Florence seen surpassing 2016 hurricane

04h27 North Carolina estimated on Tuesday that 3.4 million poultry birds and 5,500 hogs died in Hurricane Florence, exceeding the number killed in the state's last major hurricane two years ago.. . .  Full story

Eldorado Gold seeks $877 mln compensation from Greece for permit delays

03h11 Eldorado Gold Corp said on Tuesday it would seek 750 million euros ($877 million) from Greece for damages the Canadian miner said it suffered due to delays in the issuance of permits for its. . .  Full story


Oil prices fall amid surprise growth in U.S. crude stocks

03h01 Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles.. . .  Full story

Global dairy prices fall for third time in a row, despite signs of robust demand

01h01 Global dairy prices fell at the third fortnightly auction in a row early Wednesday as New Zealand's supply of key products ramped up. The GDT Price Index dipped 1.3. . .  Full story

Indian police scrutinize major law firm in PNB fraud probe after documents moved

01h00 India's largest law firm, Cyril Amarchand Mangaldas (CAM), is being scrutinized by federal agents after they seized documents related to the $2 billion fraud at state-run Punjab National Bank from CAM’s premises in February, a. . .  Full story


S.Korea stocks, won fall as China retaliates against U.S. tariffs

03h58 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index and the won edged down on Wednesday after China said on Tuesday that it. . .  Full story

Most Asian currencies weaken

03h47 The following table shows rates for Asian currencies against the dollar at 0142 GMT. CURRENCIES VS U.S. DOLLAR Currency. . .  Full story

-India's struggle to defend rupee shifts focus to rate hikes

03h31 Investors have increased bets that India's central bank will need to raise interest rates at least two more times this year to shore up the battered rupee after previous efforts to defend the currency. . .  Full story


Botswana's 2018 budget deficit to widen to 2.3 pct of GDP

18/09 Botswana sees its 2018 budget deficit widening to 2.3 percent of gross domestic product from a previous projection of 1.8 percent due to a downward revision in its mineral revenue forecast,. . .  Full story

Tunisia's 2019 debt payments to hit record of more than $3 bln

17/09 Tunisia's debt repayments will rise to a record level of more than 9 billion dinars ($3.24 billion) next year, the finance minister said on Monday.. . .  Full story

Zimbabwe's agriculture authority issues $75 million grain bills to buy maize

17/09 Zimbabwe's Agriculture Marketing Authority (AMA) has issued $75 million in grain bills to purchase maize from farmers, the authority's financial advisor CBZ Bank said on Monday.. . .  Full story


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