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DEALTALK-Flush from soaring platinum prices, Sibanye-Stillwater hunts for gold

08/04 Precious metals miner Sibanye-Stillwater is at the centre of deal talks in the gold sector but it may see its desire to create a South African gold champion thwarted as peers cut exposure to the country.  Full story

S.Korea stocks slide on downbeat U.S. jobs data, surging COVID-19 cases at home

09/04 Round-up of South Korean financial markets: ** South Korean shares fell on Friday, snapping a six-day winning streak, as softer-than-expected U.S. labour data and worries over a surge in local coronavirus infections dented investor sentiment. The won gained, while the benchmark bond yield f  Full story

Anglo American to spin off South African thermal coal assets

08/04 Anglo American plc said on Thursday it would spin off its South African thermal coal business into a new company listed in Johannesburg and London, as it moves to transition out of assets that mine the most polluting fossil fuel.  Full story

Most Read This Week

Shoprite hit by challenges in Africa's frontier markets

26/02 Africa's largest supermarket group Shoprite reported on Tuesday its first half-year earnings decline in over a decade, hit by a currency devaluation in Angola, highlighting the challenges of doing business in frontier African markets.  Full story

 

SA Business

S.Africa's Imperial Logistics says it has been selected to import COVID-19 vaccines

16h46 South Africa's largest logistics company Imperial Logistics has been awarded the tender to import COVID-19 vaccines for the second and subsequent phases of the country's vaccination programme, it told Reuters on Thursday.. . .  Full story

S.African cenbank chief: low inflation key to recovery, maintaining foreign flows

16h34 South Africa's lending rate remains accommodative and sufficient to support an economic recovery, central bank governor Lesetja Kganyago said on Thursday, adding that the bank would keep targeting inflation to keep foreign investors happy.. . .  Full story

Labour unions declare wage dispute at S.Africa's Transnet

15h58 Two unions declared a dispute with South Africa's Transnet on Thursday after wage talks broke down, and warned of possible strike action if the state-owned freight logistics firm failed to present a better offer.. . .  Full story
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SA Company

S.Africa's Nedbank aims zero exposure to fossil fuels by 2045

15h57 South Africa's Nedbank will stop funding new thermal coal mines by 2025 and halt direct funding of new oil and gas exploration as it plans to phase out fossil fuel exposure over the next. . .  Full story

Absa Bank Kenya 2020 pretax profit drops on rising impairments

23/03 Absa Bank Kenya on Tuesday reported a 47% drop in 2020 pretax profit reflecting higher impairments due to effects of the pandemic.. . .  Full story

S.African insurer Sanlam expects full-year profit to rise by up to 29%

04/03 South African insurer Sanlam Ltd said on Thursday its profit for the year ended Dec. 31 could rise by up to 29% as some accounting changes that impacted the results in 2019 were absent. . .  Full story
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Europe

UBS rolls out bonus for young bankers facing pandemic pressures

17h08 UBS has introduced a new promotion bonus for junior investment bankers as part of measures it hopes will keep young staff working through the COVID-19 pandemic engaged and healthy.. . .  Full story

Mafia infiltration in tourism sector worries Italian govt

17h06 Mafia groups are infiltrating and undermining Italy's holiday industry, the tourism minister said on Thursday, pointing to a new report estimating that mobsters are laundering billions of euros through the sector.. . .  Full story

Gold eases, palladium holds near record peak

17h01 Gold fell on Thursday, retreating from a two-month high as an upbeat U.S. jobs report hinting at steady economic recovery hurt the metal's appeal, while palladium held near an all-time high.. . .  Full story
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US

U.S. deepens emissions target at climate summit, goal called 'game changing'

17h18 The United States on Thursday pledged at a global climate summit hosted by President Joe Biden to slash greenhouse gas emissions in half by 2030, a target it hopes will spark other big countries. . .  Full story

'Time to do the right thing' on climate, Greta Thunberg tells U.S. Congress

17h12 Swedish climate activist Greta Thunberg warned U.S. lawmakers Thursday that history will hold them accountable for climate catastrophes if they do not stop subsidizing the fossil fuel industry before it is too late.. . .  Full story

S&P 500, Dow edge lower as COVID-19 cases rise, home sales drop

17h04 The S&P 500 and Dow Jones indexes edged lower on Thursday as a resurgence of COVID-19 cases globally sapped appetite for stocks, with data showing tepid U.S. home sales adding to the grim mood.. . .  Full story
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Asia

Indian Oil refineries operating at 95% capacity, sources say

16h13 Indian Oil Corp Ltd's (IOC) refineries are operating at about 95% of their capacity, down from 100% at the same time last month, two sources familiar with the matter told Reuters.. . .  Full story

China's Xi says China will phase down coal consumption over 2026-2030

15h12 China will start to phase down coal consumption over the 2026-2030 period as part of its efforts to reduce climate-warming greenhouse gas emissions, President Xi Jinping told the Climate Leaders' Summit on Thursday.. . .  Full story

Saudi Aramco to refinance $10 billion revolving loans - sources

14h59 Saudi Aramco is expected to refinance a $10 billion debt facility raised in 2015, two sources said, in what would be the oil giant's third major foray into the loan market this year.. . .  Full story
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Forex

Euro and U.S. dollar waffle as markets weigh ECB policy talk

16h52 Major currencies gyrated between modest gains and losses on Thursday as markets tried to digest European Central Bank comments on interest rate policy amid new evidence in the United States of a stronger economic recovery.. . .  Full story

ECB hawks lay off taper talk at short, calm meeting

16h51 European Central Bank policymakers meeting on Thursday did not discuss plans for the ECB's emergency bond purchases beyond June and even policy "hawks" did not repeat their public calls for reducing the pace of money. . .  Full story

THREE SOURCES

16h51 . . .  Full story
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Africa

Nigerian teen climate activists create fashion from waste to fight pollution

11h00 In a district of Lagos, Nigeria's megacity, a group of teenagers wade through a mass of plastic bottles, food containers and bags that have blocked a waterway. Wearing gloves and masks, they pick. . .  Full story

Ivory Coast cocoa regulator to reimburse exporters over premium costs

21/04 Ivory Coast's cocoa regulator said it would reimburse exporters for their expenses related to the implementation of a premium meant to combat farmer poverty.. . .  Full story

Kenyan insurer Pula offers lifeline to African farmers hit by climate change

20/04 When Kenyan farmer Waki Munyalo's crop of lentils shrank by three quarters last year because of unusually low rainfall, disaster was averted thanks to a simple remedy that was previously unavailable to most African farmers. . .  Full story
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