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South Africa's cabinet approves new mining charter

20/09 South Africa's cabinet approved a long-delayed mining charter that sets out requirements for black ownership levels and backed the withdrawal of a mining bill after industry opposition, a minister said on Thursday.  Full story

South Africa's Pick n Pay sees jump in HY profits

20/09 South African retailer Pick n Pay said on Thursday that it expects its half-year diluted headline earnings per share to increase by up to 85 percent largely due to cost savings from staff layoffs made last year.  Full story

South African central bank holds repo rate in tight call

20/09 South Africa's central bank left its benchmark repo rate at 6.5 percent on Thursday, with the bank's governor striking a more hawkish note than at the last rate meeting in July.  Full story

Most Read This Week

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

Naspers frees cash-rich Multichoice to take on Netflix & co

19/09 South African media and e-commerce group Naspers' plan to spin off Multichoice, Africa's biggest pay-TV business by subscribers, will free up cash for the unit to compete with fast-growing Netflix and other streaming services.  Full story

Naspers - listing of MultiChoice

17/09 Naspers announced its intention to list its Video Entertainment business separately on the Johannesburg Stock Exchange (JSE) and simultaneously to unbundle the shares in this business to its shareholders. The new company will be named MultiChoice Group Ltd. ("MultiChoice Group") and will inc  Full story

 

SA Business

South African central bank holds repo rate in tight call

20/09 South Africa's central bank left its benchmark repo rate at 6.5 percent on Thursday, with the bank's governor striking a more hawkish note than at the last rate meeting in July.. . .  Full story

South African rand firms on rate hold, dollar weakness; stocks up

20/09 South Africa's rand firmed to a three-week high against the dollar on Thursday after the central bank left its benchmark repo rate unchanged and the U.S. currency slipped to its lowest. . .  Full story

PL Group final results December 2017

20/09 Revenue amounted to R81.1 million (2016: R31.8 million), while operating loss came to R27.1 million (2016: R10.2 million). Net loss for the period was recorded at R26.5 million (2016: R9.2 million).. . .  Full story
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SA Company

South Africa's Clicks CEO to retire, names insider as successor

08h39 South Africa health and beauty retailer Clicks Group said on Friday its Chief Executive Officer David Kneale was retiring and will be succeeded by insider Vikesh Ramsunder.. . .  Full story

South African Markets - Factors to watch on Sept. 21

07h32 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday.. . .  Full story

South Africa's Pick n Pay sees jump in HY profits

20/09 South African retailer Pick n Pay said on Thursday that it expects its half-year diluted headline earnings per share to increase by up to 85 percent largely due to cost savings from staff layoffs made. . .  Full story
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Live News Wire

Fed's Powell between a rock and hard place: Ignore the yield curve or tight job market?

07h00 Unemployment near a 20-year low screams at the U.S. Federal Reserve to raise interest rates or risk a too-hot economy. The bond market, not far from a state that typically precedes a recession, says not so fast.  Full story

Caterpillar leans on old playbook to cope with Trump tariffs

07h00 Six months into the U.S. tariffs on imported aluminum and steel, Caterpillar Inc is finding that one of the best ways it can protect profits is a cost cutting strategy that is more than two years old.  Full story

Japan uneasy over Trump pressure on auto as summit, trade talks loom

06h56 Japanese Prime Minister Shinzo Abe will meet U.S. President Donald Trump next week as fears grow in Tokyo that Washington could demand that Japan curb its car exports to the United States.  Full story
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Europe

Oil prices mixed as Trump calls on OPEC to lower prices

06h39 Oil prices were mixed on Friday after falling in the previous session as U.S. President Donald Trump urged OPEC to lower crude prices ahead of its meeting in Algeria this weekend.. . .  Full story

"Big four" accounting firms could be broken up by UK's labour party -FT

05h29 The "big four" accounting firms could be broken up under plans by UK's Labour Party to overhaul the auditing industry, Britain's shadow chancellor John McDonnell told The Financial Times on Friday.. . .  Full story

BIG FOUR ACCOUNTING FIRMS, DELOITTE, EY, KPMG, AND PWC, COULD BE BROKEN UP UNDER RADICAL PLANS BY UK'S LABOUR PARTY TO OVERHAUL THE AUDITING INDUSTRY - FT

05h09 . . .  Full story
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US

U.S. sanctions China for buying Russian fighter jets, missiles

05h46 The Trump administration imposed sanctions on the Chinese military on Thursday for buying fighter jets and missile systems from Russia, in breach of a sweeping U.S. sanctions law punishing Moscow for meddling in the 2016. . .  Full story

S&P raises outlook on Australia, affirms AAA credit rating

05h29 Global ratings agency S&P raised its outlook on Australia's AAA sovereign rating on Friday to "stable" from "negative" citing optimism about the government's ability to return the country's finances to surplus by the early 2020s.. . .  Full story

Soybeans set for biggest weekly gain in a month on strong demand

05h01 Chicago soybean futures ticked lower on Friday but the market is poised for its biggest weekly gain in a month as prices recover from a 10-year low, supported by strong demand.. . .  Full story
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Asia

China stocks rise as govt help seen for consumption; Hang Seng up

06h34 China stocks rose on Friday, with consumer shares leading the gains, as investors expected Beijing to help boost domestic consumption amid continued uncertainty over global trade. ** At the midday break, the Shanghai Composite index. . .  Full story

India's Yes Bank tanks after cenbank trims CEO's term

06h27 Shares of India's Yes Bank Ltd plummeted on Friday and were on track for their worst day since market debut after the Reserve Bank of India curtailed Chief Executive Officer Rana Kapoor's term until. . .  Full story

-Japan inflation ticks up but BOJ's target still out of reach

06h09 Japan's annual core consumer inflation ticked up slightly in August but remained distant from the central bank's 2 percent target, suggesting that monetary policy will stay ultra-loose for the time being.. . .  Full story
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Forex

Dollar struggles near 2-1/2-mth lows, yen slips as risk aversion ebbs

06h28 The dollar struggled near 2-1/2 month lows, while the yen also sagged on Friday on reduced safe haven demand amid a switch in investors' view that the Sino-U.S. trade conflict would not lead to. . .  Full story

Asian stocks extend recovery as trade worries take back seat

05h45 Asian stocks extended gains on Friday after Wall Street's S&P 500 set a new all-time high, while the dollar slipped on views that Beijing's and Washington's fresh exchange of tariffs may be less damaging. . .  Full story

Australia dlr heads for biggest bounce in a year, NZD not far behind

05h36 The Australian dollar was heading for its best week in over a year on Friday as risk sentiment recovered from the latest round of Sino-U.S. tariffs and a major ratings agency upgraded its outlook. . .  Full story
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Africa

World Bank sees Zambia 2018 economic growth below 4 percent

20/09 The World Bank expects Zambia's economy to grow less that 4 percent this year, lower than an April projection of 4.1 percent, it said on Thursday.. . .  Full story

Liberia loses $104 mln in central bank cash, bans 15 from foreign travel

19/09 Fifteen Liberians, including the son of former president Ellen Johnson Sirleaf, are banned from leaving the country while the government investigates the whereabouts of $104 million in missing cash intended for. . .  Full story

eSwatini police, crowd clash during wage, pension fund protests

19/09 Public sector workers clashed with police in eSwatini on Tuesday, as they marched through the streets of the country's second biggest town as part of wider protests to demand higher wages. . .  Full story
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