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South African rand firmer in scramble ahead of rates decision, stocks sag

16/07 South Africa's rand rallied to a new one-month high on Monday, maintaining a surprise run fuelled by an uncertain dollar trajectory and a tidy return for investors looking for high yields outside developed markets.  Full story

MTN - sells 100% of MTN Cyprus

16/07 MTN Dubai Ltd, a wholly owned subsidiary of MTN Group, has entered into an agreement in which it has sold 100% of MTN Cyprus to Monaco Telecom S.A. (ôMonaco Telecomö) (the ôTransactionö) as part of an ongoing review of its portfolio. The net sale proceeds of Ç260 million (approximately R4,1  Full story

Trillion dollar wipeout: world stocks' worst first half since 2010

29/06 If last year's financial markets boom was down to a 'Goldilocks' global economy, 2018 has so far been all about the bears, with the worst start to a year for world stocks since 2010.  Full story

Most Read This Week

Trillion dollar wipeout: world stocks' worst first half since 2010

29/06 If last year's financial markets boom was down to a 'Goldilocks' global economy, 2018 has so far been all about the bears, with the worst start to a year for world stocks since 2010.  Full story

Linde, Praxair in talks to sell assets to consortium of Messer, CVC

12/07 Germany's Linde and U.S. group Praxair are in advanced talks to sell assets to a consortium of German gases firm Messer Group GmbH and funds advised by CVC to gain regulatory approval for their planned $83 billion merger.  Full story

GRAPHIC-Trillion dollar wipeout: world stocks' worst first half since 2010

02/07 If last year's financial markets boom was down to a 'Goldilocks' global economy, 2018 has so far been all about the bears, with the worst start to a year for world stocks since 2010.  Full story

 

SA Business

PBT Group final results March 2018

16/07 Revenue from continuing operations lowered to R556.1 million (R563.8 million) whilst operating loss widened to R118.1 million (loss of R15.1 million). Loss attributable to owners came to R188.1 million (profit of. . .  Full story

New Frontier quarterly results May 2018

13/07 Rental income for the quarter lowered to GBP4.6 million (GBP4.7 million). Total comprehensive income for the period decreased to GBP858 000 (GBP 2 million). Furthermore, headline earnings per share decreased to. . .  Full story
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SA Company

South Africa's Amplats, PIC create venture fund to lift PGM industrial demand

11h34 World no. 1 platinum producer Anglo American Platinum has spun off an internal fund and invested $100 million in a new venture capital fund with an aim to stimulate industrial demand for platinum group metals. . .  Full story

Amplats, PIC invest $200 million in platinum venture funds

09h34 South Africa's Anglo American Platinum has invested $100 million in two venture capital funds focused on increasing demand for platinum group metals, it said on Tuesday.. . .  Full story

South African rand firmer in scramble ahead of rates decision, stocks sag

16/07 South Africa's rand rallied to a new one-month high on Monday, maintaining a surprise run fuelled by an uncertain dollar trajectory and a tidy return for investors looking for high yields outside developed markets.. . .  Full story
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News Wire

C$ falls vs U.S. dollar as risk appetite eases

15h48 The Canadian dollar slid against the U.S. dollar on Tuesday, pressured by some modest risk aversion ahead of U.S. Federal Reserve Chairman Jerome Powell's first congressional testimony on the U.S. economy and monetary policy later in the session. Powell is expected to repeat the Fed's stance of  Full story

Manufacturing, mining power U.S. industrial production

15h40 U.S. industrial production increased in June, boosted by a sharp rebound in manufacturing and further gains in mining output, the latest sign of robust economic growth in the second quarter.  Full story

Smelting constraints make zinc's price plunge look overdone

15h39 Expectations for a rise in zinc concentrate supplies in coming years have driven down the metal price to one-year lows, but smelting capacity constraints suggest the sell-off is premature.  Full story
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Europe

Oil steadies as focus moves from shortage to surplus

15h39 Global benchmark Brent crude oil hit a three-month low on Tuesday as worries over supply disruptions eased and the focus moved to increasing production and potential damage to global growth from the U.S.-China trade dispute.. . .  Full story

Telia puts pressure on Telenor with $2.6 bln Norwegian expansion

15h33 Swedish telecom operator Telia Company has agreed to buy TDC's Norwegian business in a $2.6 billion deal that adds broadband and TV to its mobile services in Norway and puts pressure on market leader Telenor.. . .  Full story

Lloyds Bank plans three EU subsidiaries after Brexit - sources

15h31 Lloyds Banking Group plans to operate three subsidiaries in continental Europe after Britain leaves the EU, according to a source familiar with the matter, in a sign of how Brexit is fragmenting a banking. . .  Full story
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US

Gold hits year low as dollar steadies ahead of Fed testimony

15h38 Gold hit its lowest in a year on Tuesday as the dollar steadied and most other markets were subdued before Federal Reserve Chair Jerome Powell testifies to the U.S. Congress. Powell. . .  Full story

Wall Street opens lower as Netflix weighs

15h35 U.S. stocks opened lower on Tuesday, as Netflix's sharp drop following weak subscriber growth weighed on consumer discretionary stocks and as investors awaited Federal Reserve Chair Jerome Powell's Congressional testimony.. . .  Full story

G20 finmins to stress trade restrictions hurt everyone - German official

15h30 Trade conflicts and possible turbulence on financial markets represent the biggest risks for the economy, a German official said on Tuesday, adding that G20 finance ministers would stress trade barriers were the wrong route at. . .  Full story
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Asia

Bahrain’s Ahli United jumps on merger news amid weak Gulf markets

15h15 Most Middle East stock markets shed value on Tuesday, hit by a drop in oil prices and reflecting a slump in global stocks.. . .  Full story

Sri Lankan shares rise to 3-wk high on foreign buying

13h57 Sri Lankan shares climbed to their highest close in nearly three weeks on Tuesday, with foreign trading accounting for about 40 percent of the session's turnover.. . .  Full story

Egypt's parliament passes $11 billion sovereign wealth fund

13h11 Egypt is setting up a sovereign wealth fund with a capital of 200 billion Egyptian pounds ($11 billion), the state news agency said on Tuesday.. . .  Full story
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Forex

Sterling slides as May faces another Brexit battle in parliament

15h19 Sterling gave up its earlier gains and fell sharply on Tuesday as nervous investors cut positions before Prime Minister Theresa May's government faced the latest parliamentary vote on her Brexit plans.. . .  Full story

World stocks slip on oil as focus turns to Fed

14h01 Global stocks fell on Tuesday as oil prices hit a three-month low, while the dollar edged lower and most other markets were subdued before Federal Reserve Chair Jerome Powell was due to testify to. . .  Full story

Sri Lankan rupee ends weaker on importer dollar demand

13h51 The Sri Lankan rupee closed weaker on Tuesday as dollar demand from importers exceeded greenback selling by exporters, traders said.. . .  Full story
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Africa

Kenya Power CEO under arrest over allegations of economic crimes - police

15/07 Kenya Power's Chief Executive Officer gave himself up to police on Sunday and was in their custody, police said, a day after the east African country said it wanted to charge him over alleged. . .  Full story

Police arrest ex-CEO of Kenya Power company

14/07 Kenyan authorities said on Saturday they had arrested a former chief executive officer of the state-run distributor Kenya Power on suspicion of economic crimes and wanted to charge the current chief executive.. . .  Full story

Kenyan bank KCB could seek partner in Ethiopia as country opens up

13/07 KCB Group, Kenya's biggest bank by assets, will look at partnering with a local bank in Ethiopia, where a potential liberalisation of foreign investment rules could open up a market of 100 million people.. . .  Full story
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