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Most Read Today

Dollar rallies as investors brace for global downturn

09h01 The dollar gained broadly against riskier currencies on Wednesday, with markets staring at what is likely to be one of the worst economic contractions for decades as the world locks down to fight the coronavirus pandemic.  Full story

Alibaba plans to buy at least 10% stake in Chinese courier Yunda -sources

31/03 Alibaba Group Holding Ltd plans to buy at least 10% of Yunda Holding Co Ltd , marking the e-commerce giant's fifth investment in a large courier, two people with knowledge of the matter told Reuters.  Full story

Pandemic to hit growth in Asia, China -World Bank

31/03 The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday.  Full story

Most Read This Week

EXCLUSIVE-India's Reliance seeks to sell Mideast crude cargoes in rare move

30/03 India's Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on Friday.  Full story

Banks, regulators move to protect customers from wave of coronavirus scams in UK, US

24/03 UK banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes.  Full story

 

SA Business

South Africa's Absa PMI contracts for 14th straight month

11h13 South Africa's seasonally-adjusted Absa Purchasing Managers' Index (PMI) contracted at a slower pace in March, helped by an improvement in the supplier deliveries subindex, but it still recorded a fourteenth consecutive month of contraction.. . .  Full story

Glencore's chrome joint venture in South Africa with Merafe declares force majeure

11h11 Glencore's chrome joint venture in South Africa with Merafe Resources has declared force majeure on qualifying contracts after a nationwide lockdown forced operations to shut, a Merafe executive said.. . .  Full story

Subsistence miners lose out as coronavirus crushes local gold prices

10h59 Informal gold miners from South America to Africa are selling gold at almost 40% discounts as measures to curb the coronavirus crimp supply routes and dry up funding.. . .  Full story
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SA Company

South Africa's Sasol warns possible coronavirus disruptions could hit full-year results

31/03 South African petrochemicals producer Sasol Ltd, the world's top producer of motor fuel from coal, said on Tuesday its full year results could be hit by potential disruptions to production, supply chains and construction as. . .  Full story

S.Africa's big banks say up to a fifth of borrowers may not qualify for relief during virus

30/03 South Africa's biggest retail banks say that around 15-20% of their lending books do not definitely qualify for coronavirus relief measures announced by the banks last week, though more could be done if the government. . .  Full story

South Africa's MTN drops data prices after competition probe

20/03 MTN said it had agreed to cut the cost of its data bundles on Friday after South Africa's competition watchdog warned in December that the telecoms operator and rival Vodacom faced prosecution if they did. . .  Full story
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Live News Wire

Perth Mint's March gold and silver sales soar in safe haven rush

11h19 Sales of gold from Australia's Perth Mint's soared to their highest in about seven years, the refiner said on Wednesday, as fears over the economic fallout of the cornavirus prompted investors to buy the precious metal as a hedge. Sales of gold coins and minted bars in March more than quadrupled  Full story

Fitch, Moody's downgrade S.African banks to junk

11h17 Two top ratings agencies downgraded big South African banks' credit ratings to junk, a move expected after the country's sovereign rating suffered the same fate last week from Moody's - the only agency to consider it investment-grade.  Full story

Africa wants IMF, World Bank and EU support on debt relief - UNECA

11h17 African finance ministers want International Monetary Fund, World Bank and European Unions support for bilateral, multilateral and commercial debt relief, according to a statement from the UN Economic Commission for Africa.  Full story
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Europe

BP cuts spending by fifth, lowers U.S. shale output

11h08 BP cut its 2020 spending plan by 20% and will reduce output from its U.S. shale oil and gas business in the face of the collapse in oil prices triggered by the corononavirus outbreak,. . .  Full story

Euro zone jobless rate hits 12-year low on eve of virus measures

11h00 Unemployment in the euro zone fell to a 12-year low in February, the month before coronavirus containment measures began to be introduced widely across Europe. The jobless rate was 7.3% in. . .  Full story

Oil falls to $25 as oversupply fears mount with U.S. inventory rise

10h52 Oil slid to $25 a barrel on Wednesday, within sight of its lowest in 18 years, as a report showing a big rise in U.S. inventories and a widening rift within OPEC heightened oversupply. . .  Full story
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US

Chinese buyers snap up U.S. oil purchases at widest discounts ever

11h10 China has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday.. . .  Full story

Tariff pain turns to gain: U.S. computer, toy stockpiles help meet virus rush

09h00 As the coronavirus outbreak forced classes online, Boston Public Schools ordered 20,000 laptops and had them in hand in four days - an unusually fast turnaround made possible by a build-up of inventory prompted by. . .  Full story

BlackRock, Neuberger Berman apply for China fund business as Beijing steps up deregulation

08h41 BlackRock and Neuberger Berman on Wednesday became the first global asset managers to submit applications to set up mutual fund units in China as Beijing pushes ahead with financial sector deregulation despite the coronavirus. . .  Full story
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Asia

China may ease electric car quotas, delay emission rules to help automakers -sources

11h08 China is considering temporarily easing quotas designed to boost production of electric cars to help automakers badly bruised by the coronavirus pandemic to revive slumping sales, people familiar with the matter said.. . .  Full story

India's farmers face shortage of harvest labour amid coronavirus lockdown

11h07 A severe shortage of labour, triggered by India's 21-day lockdown to rein in a coronavirus pandemic, will hobble harvesting of winter crops in the world's second largest producer of staple foodgrains such as wheat.. . .  Full story

Coronavirus threatens Gulf insurers' earnings - S&P

11h06 The fallout from the coronavirus pandemic and tumbling oil prices threaten the earnings of insurers in the Gulf, S&P Global Ratings said on Wednesday, possibly leading to negative rating actions.. . .  Full story
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Africa

Ghana slashes GDP forecast over coronavirus shock

11h05 Ghana's finance ministry has slashed its 2020 GDP growth forecast from 6.8% to 1.5% due to the coronavirus pandemic, a rate that would represent the Ghanaian economy's worst performance in nearly. . .  Full story

Zambia's finance ministry seeks debt advisors

10h01 Zambia is looking for financial advisors to help ensure the sustainability of its debt and manage any loans maturing from next year and beyond, the ministry of finance said on Tuesday.. . .  Full story

Tiso Blackstar Sees HY Headline Loss Per Share Between 4.07 Cents & 8.37 Cents

09h23 Tiso Blackstar Group SE:. . .  Full story
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