South African Finance Minister Pravin Gordhan abandoned an investor roadshow and flew home on Tuesday on the orders of President Jacob Zuma, triggering speculation about his future that weakened the country's currency and bonds.
Asian shares inched ahead on
Wednesday while the dollar and commodities rallied as investors
shook off disappointment about U.S. President Donald Trump's
failed healthcare bill and focussed on an improving outlook for
Finance Minister Pravin Gordhan abandoned an investor roadshow
and flew home on Tuesday on the orders of President Jacob Zuma,
triggering speculation about his future that weakened the
country's currency and bonds.
Souq.com will expand its
workforce and operations after Amazon clinched a deal
to buy 100 percent of the Middle East online retailer,
executives from both firms said.
South Africa's Chamber of Mines is "deeply concerned" about President Jacob Zuma order to recall his finance minister from an investor. . .
South Africa will likely harvest 14.32 million tonnes of maize in 2017, 84 percent more than last year as favourable weather. . .
South Africa's Crop Estimates Committee released its latest crop estimates on Tuesday. Below is a breakdown of the data.. . .
Barclays is in exclusive talks to sell its stake in its Zimbabwe unit to Malawi-based First Merchant Bank, the lenders said. . .
Revenue increased to R660.6 million (R631.0 million) whilst gross profit came in at R18.7 million (loss of R80.4 million). Loss attributable to owners narrowed to R45.5 million (loss of R561.8 million).. . .
South Africa's Pravin Gordhan
said he was still the finance minister in response to a question
as he attended a court hearing on Tuesday on a case he has
brought against the Gupta brothers,. . .
Healthcare service revenue grew to R1.3 billion (R1.1 billion). Total healthcare operating profit jumped to R258.8 million (R208.6 million). Profit attributable to equity holders lowered to R98.0 million (R99.2 million). Furthermore,. . .
At least some of the proceeds
from the sale of Souq.com to Amazon.com will be invested back in
the business, the co-founder of the Middle East online retailer
said on Tuesday.. . .
The top six of South Africa's ruling African National Congress party have approved the removal of Finance Minister Pravin Gordhan, ANN7 television reported on Tuesday, citing sources.. . .
Initial public offerings (IPOs)
by companies based in Britain have raised $1.53 billion so far
in 2017, a 28 percent decline on last year and the lowest
year-to-date total since 2012 as Britain prepares. . .
South Africa's Treasury sold a total of 2.35 billion rand ($181 million) worth of its 2026, 2036 and 2040 instruments on Tuesday.. . .
South Africa's rand took
another tumble on Tuesday with investors reeling from President
Jacob Zuma's sudden decision to recall his finance minister from
a trip abroad in a sign of escalating tensions.. . .
The cost of insuring South African government debt against default hit the highest level in nearly eight weeks on Tuesday after President Jacob Zuma ordered his Finance Minister Pravin Gordhan to. . .
South African Finance
Minister Pravin Gordhan said "let's wait and see" when asked
about reports that President Jacob Zuma was set to remove him,
as he arrived back from an investor roadshow in Britain. . .
South Africa's Finance
Minister Pravin Gordhan landed home on Tuesday a day after
President Jacob Zuma ordered him to return from an investor
roadshow in Britain, fuelling speculation of a cabinet
reshuffle.. . .
South Africa's Capitec Bank reported an 18 percent rise in full-year profit on Tuesday as the lender continues its push into transactional banking.. . .
South Africa's rand and government bonds extended losses early on Tuesday after President Jacob Zuma asked Finance Minister Pravin Gordhan to return early from an investor roadshow, triggering speculation of an. . .
Lending and investment income for the year increased to R16.071 billion (2016: R14.019 billion), net income rose to R10.679 billion (2016: R9.063 billion), profit for the year climbed to R3.806 billion. . .
South African President Jacob Zuma asked Finance Minister Pravin Gordhan on Monday to return home "immediately" from an investor roadshow abroad, reviving talk of a cabinet reshuffle and unnerving investors who. . .
Voters in Colombia's Tolima
province have backed a proposal to ban mining projects in their
municipality, a result that raises questions about the future of
an AngloGold Ashanti gold exploration in the area.. . .
Dubai's Emaar Malls,
operator of glitzy Middle East shopping centres, has made an
$800 million offer for regional online retailer Souq.com
, setting up a potential bidding war with
Amazon.com.. . .
South Africa's Finance Minister Pravin Gordhan will arrive in the country on Tuesday morning after President Jacob Zuma asked him to return home immediately from an investor roadshow abroad, the Treasury. . .
Robert Mugabe scrapped the Zimbabwe dollar in 2009, most of his
people thought this meant the end of runaway money-printing and
hyperinflation that had rendered the currency worthless. They
may have been wrong.. . .
South African casino and
hotel operator Sun International scrapped its dividend
after reporting a drop in annual profit on Monday, seeking to
conserve capital to reduce debt and complete a casino complex in
Pretoria.. . .
South African President Jacob Zuma's decision to call Pravin Gordhan back home from an investor roadshow in London marks a major setback for the economy, the Democratic Alliance opposition party said. . .
Irish rock star Bob Geldof's 8 Miles private equity fund said on Monday it had acquired a minority stake in UK-incorporated Blue Skies, a fresh-cut tropical fruit producer with operations in. . .
A minority shareholder in South Africa's Sun International has requested Sun Dreams, its Latin American business, list on the Santiago or New York stock exchange through an initial public offering, its. . .
A South African union leader who is due to attend an investor roadshow with Finance Minister Pravin Gordhan denied reports on Monday that he had been ordered by President Jacob Zuma. . .
South African President
Jacob Zuma ordered Finance Minister Pravin Gordhan to return
from an investor roadshow to Britain and the United States
because he "did not give permission for the trip", a government
source said. . .
South Africa's Brian Joffe will step down as executive chairman of foodservice group Bidcorp at the end of June to launch his own investment firm, Bidcorp said on Monday.. . .
Emerging equities were
pressured on Monday by growing concern for so-called
Trumpflation trades, although the dollar's retreat to four-month
lows allowed currencies such as the rand and rupee to scale
multi-month highs.. . .
Revenue for the year increased to R1.278 billion (2015: R1.133 billion), gross profit rose to R215.2 million (2015: R171.8 million), net loss attributable to equity holders of AND widened to R55.3. . .