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Suspended Steinhoff CFO helps authorities with fraud investigation

20/03 The suspended former chief financial officer of Steinhoff is helping authorities with investigations into $7 billion-plus accounting fraud at the South African retailer, he said on Thursday.  Full story

Omnia - trading statement

20/03 In terms of paragraph 3.4 of the Listings Requirements of JSE Limited, a company is required to publish a trading statement as soon as its board is satisfied that there is a reasonable degree of certainty that the financial results for a period to be reported on will differ by more than 20%  Full story

Micron sees memory chip recovery coming later in year, shares rise

01h59 U.S. chipmaker Micron Technology Inc on Wednesday said it sees a recovery in the memory chip market coming and reported a quarterly profit that beat estimates as cost controls helped offset falling demand and prices, sending its shares up nearly 5 percent.  Full story

Most Read This Week

Ex-CEO, seven others responsible for Steinhoff fraud, new CEO tells lawmakers

19/03 Former Steinhoff Chief Executive Markus Jooste and seven others were involved in a 6.5 billion euro ($7.4 billion) accounting fraud at the South African retailer, the new CEO told lawmakers on Tuesday.  Full story

Former Steinhoff chairman Wiese open to talks over $4 bln claim

18/03 Former Steinhoff chairman and top shareholder Christo Wiese said on Monday he is open to negotiations over a $4 billion claim against the South African retailer, days after it revealed the scale of a devastating accounting fraud.  Full story

S.Africa's Tsogo Sun CEO to retire, hotel business spin-off to go ahead

15/03 South African hotelier and casino operator Tsogo Sun said on Friday it is going ahead with the spinoff of its hotel business, as it announced its chief executive would retire in June.  Full story


SA Business

Suspended Steinhoff CFO helps authorities with fraud investigation

20/03 The suspended former chief financial officer of Steinhoff is helping authorities with investigations into $7 billion-plus accounting fraud at the South African retailer, he said on Thursday.. . .  Full story

Freedom final results February 2016

20/03 Revenue for the period rose to R38.5 million (R21.4 million) whilst gross profit also increased to R28.5 million (R20.9 million). Operating loss narrowed to R34.8 million (loss of R141.0 million). In. . .  Full story

S.African court rules extension of wage agreement to AMCU valid and lawful

20/03 South Africa's labour court ruled on Wednesday that the extension of a wage agreement to cover all gold unions and non-unionised employees of mining group Sibanye-Stillwater is valid and lawful, the. . .  Full story

SA Company

Eoh Reschedules Release Of Interim Results To 16 April 2019

20/03 Eoh Holdings Ltd:. . .  Full story

Wesizwe Platinum Says Fugui Qiao Resigns From Board

20/03 Wesizwe Platinum Ltd:. . .  Full story

South African Markets - Factors to watch on March 20

20/03 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.. . .  Full story

Live News Wire

BOK chief says Fed's shift eased uncertainties; sees no rate cut for Korea yet

02h55 South Korea's central bank chief said on Thursday the U.S. Federal Reserve's decision to abandon projections for any interest rate hikes this year eased uncertainties for Korean policymakers.  Full story

Dovish Fed shift lifts Asian shares, dollar nurses losses

02h45 Shares in Asia rose on Thursday after the U.S. Federal Reserve took a more accommodative stance at its policy meeting, but concerns over slowing global growth and U.S.-China trade talks are expected to limit gains.  Full story

U.S. fund Elliott battles the odds in latest showdown with Hyundai

02h12 The showdown between U.S. activist hedge fund Elliott Management and Hyundai Motor Group is set to come to a head on Friday when shareholders gather to vote on the fund's demands for a hefty special dividend and a board shake-up.  Full story


Amnesty faults electric vehicle batteries as carbon intensive

02h01 Amnesty International attacked the electric vehicle (EV) industry on Thursday for selling itself as environmentally friendly while producing many of its batteries using polluting fossil fuels and unethically sourced minerals.. . .  Full story

EU leaders to discuss ways to limit Chinese influence at summit dinner

02h01 The European Union will discuss a more defensive strategy on China on Thursday, potentially signalling an end to the unfettered access that Chinese business has enjoyed in Europe but which Beijing has failed to reciprocate.. . .  Full story

EU readies short Brexit delay - if May wins parliament over

01h00 European Union leaders meet in Brussels on Thursday to give Prime Minister Theresa May an offer to delay Brexit beyond March 29, on condition that she can finally win over her many opponents in. . .  Full story


Levi Strauss valued at $6.6 bln as IPO prices above target

00h47 Levi Strauss & Co fetched a higher price than expected in its initial public offering (IPO) on Wednesday, selling $623.3 million in shares as the U.S. jeans maker looks to return to the stock. . .  Full story

Brazil aims at trade reaching 30 pct of GDP by 2022 -secretary

00h38 The Brazilian government wants trade to represent 30 percent of the country's gross domestic product by the end of 2022, with one official saying on Wednesday it will get there on the back of. . .  Full story

Trump says tariffs on Chinese goods may stay for 'substantial period'

00h31 U.S. President Donald Trump warned on Wednesday that the United States may leave tariffs on Chinese goods for a "substantial period" to ensure that Beijing complies with any trade agreement.. . .  Full story


Oman denies it has agreed to invest in Sri Lanka oil refinery project

20/03 Oman's oil ministry on Wednesday denied being part of a $3.85 billion plan to build an oil refinery in Sri Lanka, a day after the government in Colombo announced the Arab country's participation.. . .  Full story

Key Jet Airways lender SBI says bankruptcy 'last option', rescue almost ready

20/03 Bankruptcy is the "last option" for Jet Airways, State Bank of India's (SBI) chairman said on Wednesday, adding that it might still be possible to draft in a new investor to keep the airline flying.. . .  Full story

India's state-run MSTC $33 mln IPO subscribed 1.5 times after sale extension

20/03 Indian e-commerce firm MSTC Ltd's initial public offering to raise as much as 2.26 billon rupees ($32.86 million) was subscribed 1.5 times, after the company extended the share sale until Wednesday and cut the lower. . .  Full story


Inside the Fed's balance sheet in four charts

01h57 The Federal Reserve will remain the top holder of U.S. Treasuries for the foreseeable future after the central bank said it would stop shrinking its $4 trillion balance sheet by the end of September.. . .  Full story

NZ GDP picks up but soft prices keep rates outlook benign

01h51 New Zealand's economy rebounded last quarter as households splurged on everything from eating out to vacations, but there were few signs of inflation, suggesting policy will remain accommodative for some while yet.. . .  Full story

Dollar flattened in rush to wager on Fed rate reversal

01h26 The dollar nursed heavy losses in Asia on Thursday after the Federal Reserve stunned markets by abandoning all plans to raise rates this year, a signal its three-year campaign to normalise policy might be. . .  Full story


Moroccan phosphate miner OCP's profit jumps 19 percent in 2018

20/03 Morocco's OCP, the world's leading phosphate exporter, reported a 19 percent rise in 2018 full-year net profit to 5.4 billion dirhams ($562.79 million) on Wednesday, citing steady demand and higher prices. . .  Full story

Ghana's Cocobod signs $300 mln loan to refinance bills, finance programs

19/03 Ghana's Cocobod signed a $300 million three-year loan with several international lenders on Tuesday to refinance central bank-raised cocoa bills and finance production enhancement programs, one of the lenders said in a statement.. . .  Full story

Morocco keeps benchmark interest rate unchanged at 2.25 pct

19/03 Morocco’s central bank left its benchmark interest rate flat at 2.25 percent on Tuesday, saying the decision was in line with the inflation and growth outlook.. . .  Full story


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