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Most Read Today

S.Africa's debt-ridden Cell C worthless, biggest shareholders say

17h12 Payments company Net1 UEPS Technologies said on Thursday it had written down to zero the value of its stake in South Africa's third-largest mobile network, Cell C, alongside the carrier's largest shareholder, Blue Label Telecoms.  Full story

S.African retailer Mr Price warns of possible loss

11h53 Mr Price Group Ltd faces a potential hit of up to 20 million rand ($1.37 million), the South African clothing retailer said on Thursday, following an internal investigation into allegations of non-compliance with its own code of conduct.  Full story

South African Airways cash injection imminent but says it needs more

18/09 South Africa's cash-strapped national airline SAA says a government cash injection of 5.5 billion rand ($376 million)approved for the 2019/20 financial year is expected at the end of the month but it still needs more money, a presentation to lawmakers showed on Wednesday.  Full story

Most Read This Week

South Africa's Mr Price suspends two senior managers

12/09 South African clothing retailer Mr Price Group Ltd said on Thursday two members of the senior management had been suspended as a precaution following allegations of non-compliance with the firm's code of conduct.  Full story

Old Mutual says not backing down in case against fired CEO

13/09 Old Mutual said on Friday it was not backing down in a dispute with its fired CEO, after confirming it had sent a letter to the CEO's attorneys saying it would not seek further court intervention on his second letter of termination.  Full story

S.Africa's debt-ridden Cell C worthless, biggest shareholders say

17h12 Payments company Net1 UEPS Technologies said on Thursday it had written down to zero the value of its stake in South Africa's third-largest mobile network, Cell C, alongside the carrier's largest shareholder, Blue Label Telecoms.  Full story

 

SA Business

South African Government To Deliver Medium-Term Budget Policy Statement On Oct 30 -Treasury

19h57 /p>. . .  Full story

S.Africa's debt-ridden Cell C worthless, biggest shareholders say

18h40 Payments company Net1 UEPS Technologies said on Thursday it had written down to zero the value of its stake in South Africa's third-largest mobile network, Cell C, alongside the carrier's largest shareholder, Blue Label Telecoms.. . .  Full story

South African rand slips back as central bank holds key rate, stocks down

18h28 South Africa's rand was slightly weaker on Thursday after the central bank left its main interest rate on hold as expected.. . .  Full story
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SA Company

Losses more than double at South African construction group Aveng

29/08 South African construction group Aveng on Thursday said its net operating loss more than doubled in the latest financial year, highlighting the challenges the company faces as it embarks on a turnaround strategy.. . .  Full story

South African drugstore Dis-Chem benefits from medicine price hike

28/08 South African drugstore chain Dis-Chem Pharmacies Ltd said on Wednesday that its revenues rose 13.5% in the five months through July, thanks to an increase in medicine prices and a jump in wholesale revenues.. . .  Full story

Bidcorp says UK logistics unit sale nearing completion

28/08 South African food services firm Bid Corporation Ltd (Bidcorp) said on Wednesday the sale of its UK logistics business was back on track and nearing completion, which would allow the group to focus on. . .  Full story
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Live News Wire

Dollar falls as some central banks outside U.S. hold rates steady

21h45 The dollar fell against most major currencies on Thursday as some central banks refrained from cutting interest rates after the Federal Reserve's second rate decrease this year, boosting the appeal of their currencies versus the greenback. Sterling rallied in late U.S. trading following comments  Full story

Bank of Canada says to hold 10 regular bond auctions and one real return bond auction in coming quarter

21h40 /p>  Full story

Soybeans firm on strong export sales, China trade optimism

21h27 U.S. soybean futures firmed on Thursday as strong weekly export sales data and hopes for progress toward a U.S.-China trade deal more than offset pressure from a crop-boosting Midwest weather forecast.  Full story
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Europe

Brent rises 1% as Saudi supply risks come into focus

21h10 Brent crude oil prices rose more than 1% on Thursday on fears of longer-than-expected supply shortfalls following Saturday's attacks on a key Saudi Arabian oil processing facility and escalating tensions in the Middle East.. . .  Full story

French power output down 10% as over a third of workforce strikes

20h50 More than a third of EDF's workforce in France was on strike on Thursday in protest against a restructuring plan, the state-controlled utility said, reducing French power generation by more than 10%.. . .  Full story

Casino in talks to sell discount chain Leader Price to Aldi

20h48 Debt-laden French retailer Casino is in talks to sell its French discount store chain Leader Price to German low-cost rival Aldi, Casino said on Thursday.. . .  Full story
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US

Microsoft nudges S&P 500 toward record high

21h07 Microsoft and healthcare companies lifted Wall Street on Thursday, a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary easing.. . .  Full story

Brazil's Oi in talks to sell mobile unit to Telecom Italia, Telefonica -sources

21h05 Brazilian telecommunications firm Oi SA is in talks with Spain's Telefonica SA and Italy's Telecom Italia SpA to sell its mobile network to avoid insolvency, five people with knowledge of the matter said.. . .  Full story

U.S. fintech startup Stripe valued at $35 bln in latest funding round

20h50 Stripe Inc said on Thursday it is raising $250 million in its latest funding round, which values the payments startup at $35 billion, a dramatic 56% surge from a previous valuation at the start. . .  Full story
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Asia

Egyptian tuk-tuk start-up Halan to expand to Ethiopia

14h55 Halan, an Egyptian technology start-up that uses two- and three-wheeled vehicles to transport passengers and goods, will begin operating in Ethiopia before the end of 2019, its chief executive told Reuters.. . .  Full story

LME copper declines on weak demand and a guarded Fed

14h21 Copper prices eased on Thursday as the market focused on weak demand in top consumer China and a meeting in Washington between Chinese and U.S. officials aimed at resolving a prolonged trade dispute.. . .  Full story

Ex-Tepco bosses cleared over Fukushima nuclear disaster

13h50 A Tokyo court cleared on Thursday three former Tokyo Electric Power (Tepco) executives of negligence for the 2011 Fukushima disaster, the only criminal case to arise out of the world's worst nuclear crisis since Chernobyl. . .  Full story
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Forex

Shares rise after Fed rate cut, oil prices gain

21h10 A gauge of global equity performance rose within 1% of a record high on Thursday, a day after the Federal Reserve cut interest rates, but crude oil prices climbed higher on concerns last. . .  Full story

'Show me the money'; dollar-hungry businesses squeezed in Lebanon

18h00 Cars line up to fill their tanks but the worker at the gas station in Lebanon's capital city waves them off, standing by the 'Strike!' signs. "No fuel today," he shouts.. . .  Full story

SNB raising negative rate threshold may halve burden on banks - analysts

16h46 The Swiss National Bank's decision to raise the threshold for the country's banks before they are hit with negative interest rates could halve the amount they end up paying the central bank, analysts' calculations suggest.. . .  Full story
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Africa

Somalia GDP to grow 2.9% in 2019 vs 2.8% last year: IMF

10h57 Somalia's economy is forecast to grow 2.9% this year from 2.8% last year, but security risks and vulnerability to climate shocks could cloud the outlook, the International Monetary Fund said.. . .  Full story

4Sight Holdings Gets Non-Binding Expression Of Interest For Acquisition Of All Shares In Co

10h14 4Sight Holdings Ltd:. . .  Full story

Somalia GDP to grow 2.9% in 2019 vs 2.8% last year -IMF

10h12 Somalia's economy is forecast to grow 2.9% this year from 2.8% last year, but security risks and vulnerability to climate shocks could cloud the outlook, the International Monetary Fund said.. . .  Full story
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