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DP World set for 'relatively stable financial performance' this year, chairman says

26/10 International port operator DP World is on track to report a "relatively stable financial performance" this year after the recording a 3.1% increase in third-quarter shipping container volumes, its chairman said on Monday.  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

Why South Africa's public wage bill is a problem

28/10 South Africa plans to freeze public-sector wages for the next three years to help cut its salary bill and contain a yawning budget deficit.. . .  Full story

Canal Plus raises stake to 12 percent in South African company MultiChoice Group Ltd

28/10 MultiChoice Group Ltd/Canal Plus:. . .  Full story

Pension fund of S.Africa's Eskom to invest $170 mln in U.S. projects

28/10 The pension fund of South Africa's indebted power utility Eskom plans to invest $170 million in private equity, infrastructure and real estate projects in the United States, the U.S. embassy in South Africa said on. . .  Full story
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SA Company

S.Africa's Industrial Development Corp to diversify equities investment after sharp losses -CEO

26/10 South Africa's state-owned Industrial Development Corporation (IDC) said it would diversify its equity investments after reporting on Monday a sharp decline in the value of its top three holdings in listed companies.. . .  Full story

South Africa's Foschini expects to swing to half-year loss

23/10 South African retailer The Foschini Group warned on Friday it was likely to post a half-year loss due to the impact of the coronavirus, which forced store closures in its major markets.. . .  Full story

MTN withdraws Supreme Court challenges against Ghana market regulator

13/10 South African mobile operator MTN's Ghana unit said on Tuesday it was withdrawing a legal challenge it had filed to the Supreme Court over the market regulator's move to designate it a significant market power.. . .  Full story
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Live News Wire

Japan Sept retail sales fall 8.7% year/year - govt

01h51 Japanese retail sales fell 8.7% in September from a year earlier, down for a seventh straight month, government data showed on Thursday, as the coronavirus pandemic kept a lid on consumers' shopping appetite.  Full story

PBF Energy to shut fuel producing units at Paulsboro refinery - two sources familiar

01h51 PBF Energy will shut most refining units at its Paulsboro, New Jersey refinery, in another blow to U.S. East Coast refining operations, according to two sources familiar with the matter. (Reporting By Laura Sanicola)  Full story

Australia's ANZ bank beats earnings expectations, cuts dividend

01h35 Australia and New Zealand Banking Group Ltd on Thursday beat market expectations with a rebound in cash earnings in the second half, boosted by lower provisions for bad debts due to the pandemic that offset declining interest margins.  Full story
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Europe

IKEA's malls arm says expansion plans intact as customers return post-lockdown

01h01 IKEA's shopping malls business, one of the world's biggest, said its expansion plans remained on track with visitors quickly returning to its premises after the lifting of coronavirus-related lockdowns which had forced stores to close.. . .  Full story

Atlantia delays spin-off plans to extend talks with CDP-led consortium

28/10 Italy's Atlantia said it had delayed a shareholder vote on the spin-off of its domestic motorway business to extend talks to sell it to a consortium led by state lender Cassa Depositi e Prestiti. . .  Full story

Oil plunges over 5% to 4-month low as pandemic surges, U.S. crude output soars

28/10 Oil prices fell more than 5% on Wednesday, sending Brent to a four-month low as surging coronavirus infections in the United States and Europe prompted renewed lockdowns and fed expectations for new declines in. . .  Full story
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US

Exxon Mobil keeps quarterly dividend flat for first time since 1982

01h27 Exxon Mobil Corp on Wednesday kept its fourth-quarter dividend flat at 87 cents a share, signaling 2020 will be the first year since 1982 that the U.S. oil producer has not raised its shareholder. . .  Full story

-Pandemic's latest spread triggers surge in VIX 'fear gauge' for U.S. stocks

00h48 Wall Street's "fear gauge" is on track for its biggest weekly jump since March as investors worried about rising U.S. and European coronavirus cases, the lack of fiscal stimulus and uncertainty about the U.S. presidential. . .  Full story

U.S. corporate spending plans could stumble as risks rise

00h48 An expected rebound in capital expenditures for U.S. companies could be more at risk, as concerns over the economic recovery and a possible contested U.S. election mount.. . .  Full story
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Asia

BOJ set to keep massive stimulus, ready to act if pandemic causes more economic damage

28/10 The Bank of Japan is set to maintain its massive stimulus programme on Thursday and vow to take further action if the economic fallout from the coronavirus shock threatens a return to deflation.. . .  Full story

Saudi Arabia's deficit down in Q3 as taxes boost revenue

28/10 Saudi Arabia posted a budget deficit of 40.768 billion riyals ($10.87 billion) in the third quarter this year, more than half its deficit in the previous quarter, as a spike in non-oil revenues offset. . .  Full story

Ghana government in talks to takeover AirtelTigo shares

28/10 Ghana and telecoms operators Airtel and Tigo are in advanced stages of discussions for the transfer of AirtelTigo shares to the government of Ghana, the company said in a statement.. . .  Full story
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Forex

Surge in coronavirus cases set to shake Asian markets

01h33 Asian stocks were set to join a global sell-off on Thursday as worries about surging coronavirus cases in Europe and the United States sent investors scrambling for safe-haven assets.. . .  Full story

Vote and virus: volatile markets bring reminder of March turmoil

28/10 Equity and currency volatility shot higher on Wednesday and the cost of sourcing dollars rose, reflecting fears that the U.S. election and resurgent COVID-19 pandemic could tip markets back into the sort of chaos. . .  Full story

Lockdown anxiety drags stocks sharply lower; dollar rises

28/10 Stocks sank across the globe on Wednesday on concerns that rising COVID-19 cases in Europe, the United States and elsewhere would disrupt fragile economic recoveries, while the U.S. dollar rose on safe-haven demand.. . .  Full story
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Africa

Ghana finance ministry sees swift recovery from COVID-19 slump

28/10 Ghana's Finance Ministry revised up its 2020 growth forecast on Wednesday and forecast a rebound to 5.9% next year as the economy recovers from its first contraction in almost four decades. . .  Full story

Luxe Holdings Sees HY Headline Loss Per Share Between 63.1 Cents To 140.2 Cents

28/10 Luxe Holdings Ltd:. . .  Full story

Ghana to issue sovereign bonds worth $3 bln

28/10 Ghana's Finance Ministry plans to issue sovereign bonds worth $3 billion to support the 2021 budget and debt management, the ministry said on Wednesday. (Reporting by Christian Akorlie Writing by Alessandra Prentice Editing by Bate Felix). . .  Full story
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