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South Africa's Massmart hit by lower sales, earnings warning

22/01 Shares in Massmart Holdings Ltd fell more than 21 percent on Tuesday after the South African retailer posted lower-than-expected full-year sales and said it expected its headline earnings to drop by up to 44 percent.  Full story

MTN has paid $53 mln to settle Nigeria dispute -central bank

22/01 South Africa's MTN has paid $53 million to settle a money transfer dispute with Nigeria's central bank and the matter has been withdrawn from court, Governor Godwin Emefiele said on Tuesday.  Full story

S.Africa's Multichoice sweetens Naspers split with dividend plan

21/01 Africa's biggest pay-TV business Multichoice plans to pay a 2.5 billion rand ($181 million) dividend two years after leaving its parent of three decades - media and e-commerce group Naspers - and pursuing a listing solo in South Africa.  Full story

Most Read This Week

Saudi Arabia plans oil refinery, petrochemicals plant in S.Africa

18/01 Saudi Arabia plans to build an oil refinery and a petrochemicals plant in South Africa as part of $10 billion of investments in the country, Saudi Energy Minister Khalid Al-Falih said on Friday.  Full story

Naspers - unbundling and listing of MultiChoice

21/01 Further to the announcement issued by Naspers on the JSE's Stock Exchange News Service ("SENS") on 17 September 2018, Naspers proposes to unbundle its video entertainment business ("Business") currently held by its wholly owned subsidiary, MultiChoice Group Ltd. ("MultiChoice"), to the holde  Full story

South Africa's Woolworths hit by sluggish sales, earnings warning

17/01 Shares in Woolworths fell more than 8 percent on Thursday after the South African department store operator posted slower half-year sales growth and said it expected its headline earnings to drop by 5 percent in the period.  Full story

 

SA Business

South Africa's consumer inflation slows to 4.5 pct yr/yr in December

11h29 South Africa's headline consumer inflation slowed to 4.5 percent year on year in December from 5.2 percent in the previous month, in line with expectations of economists polled by Reuters, data. . .  Full story

Zimbabwe vows bold economic turnaround despite surging prices

10h22 Zimbabwe's finance minister painted an optimistic outlook for his country on Tuesday, despite protests over fuel prices that human rights groups say have left at least a dozen people dead.. . .  Full story

South African rand recovers before inflation data

09h41 The South African rand recouped some of the previous day's losses early on Wednesday, before the release of inflation data which is expected to show a significant slowdown in price rises. . .  Full story
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SA Company

South African Markets - Factors to watch on Jan 23

07h47 following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.. . .  Full story

South Africa's Gold Fields denies rumours of merger with AngloGold

22/01 South Africa's Gold Fields said on Tuesday that rumours it was looking to merge with rival bullion firm AngloGold Ashanti were "absolutely false" after shares of both companies firmed on speculation of a merger.. . .  Full story

South Africa's Massmart hit by lower sales, earnings warning

22/01 Shares in Massmart Holdings Ltd fell more than 21 percent on Tuesday after the South African retailer posted lower-than-expected full-year sales and said it expected its headline earnings to drop by up to 44 percent.. . .  Full story
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Live News Wire

U.S. yields rise as stock market rebounds

18h00 U.S. Treasury yields rose on Wednesday as a rebound in Wall Street stock prices pared some safe-haven demand for U.S. government bonds even though investors remain worried about slowing economic growth and the U.S.-China trade tensions. Analysts expect the $15.6 trillion market sector to be stuc  Full story

India's IndiGo to push international growth for higher profit

17h59 IndiGo, India's biggest airline by market share, will take more deliveries of the longer-range Airbus A321neo aircraft next year as it plans to launch more international flights, its interim CEO said on Wednesday after the company's profit fell sharply.  Full story

Sterling rallies above $1.30 on Brexit delay push

17h51 Sterling leapt to a 10-week high on Wednesday after Britain's opposition Labour Party said it would back an attempt by lawmakers to prevent a disorderly no-deal Brexit.  Full story
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Europe

China's CATL plans battery cell production of 60 GWh from 2026 at German plant

17h45 Chinese battery maker Contemporary Amperex Technology Ltd (CATL) eyes an annual production of 60 gigawatt hours (GWh) from 2026 at its first European production site in Germany, a senior CATL manager said on Wednesday.. . .  Full story

Union at Audi's Hungarian business calls one-week strike

17h40 Workers at German carmaker Audi's Hungarian business will go on a one-week strike for higher wages from Thursday, the president of the AHFSZ trade union was quoted by state news agency MTI as saying. . .  Full story

Bank of England says TSB outage probe still on-going

17h31 The Bank of England's investigation into last year's costly IT meltdown at TSB bank that hit customers is still ongoing, the BoE's deputy governor Sam Woods told lawmakers on Wednesday.. . .  Full story
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US

Deutsche faces questions from authorities investigating Danske

17h47 Deutsche Bank said on Wednesday it had received requests for information from regulators and law enforcement agencies around the world that are investigating a money laundering scheme involving Danske Bank.. . .  Full story

Merkel calls for global cooperation to reach 'win-win outcomes'

17h25 German Chancellor Angela Merkel delivered a robust defence of the post-war multilateral order on Wednesday, lauding compromise as a virtue in international relations in a veiled criticism of U.S. President Donald Trump.. . .  Full story

TSX gains as Poloz assures economy in good shape

17h21 Canada's main stock index rose on Wednesday after Bank of Canada Governor Stephen Poloz assured the Canadian economy is in good shape.. . .  Full story
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Asia

India's ruling party could be crushed in most populous state in general election-poll

17h43 Indian Prime Minister Narendra Modi's ruling party could be crushed by an opposition alliance in the country‚Äôs most populous state of Uttar Pradesh in a general election, which is due by May, according to. . .  Full story

Oil up on supply outlook but slowdown worries weigh

16h55 Oil prices rose on Wednesday as U.S. crude stocks fell and official data indicated slowing growth in U.S. shale oil output in the coming years.. . .  Full story

Pakistan unveils tax cuts, incentives to boost growth

16h41 Pakistani Finance Minister Asad Umar unveiled a package of measures on Wednesday to boost exports and investment and help Islamabad address a severe balance of payments squeeze that has forced it to turn to. . .  Full story
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Forex

Deutsche Bank CEO says bank cooperating with German prosecutors

17h34 The chief executive of Deutsche Bank, Christian Sewing, said on Wednesday the lender had the biggest interest in cooperating with German prosecutors who searched its offices in November as part of an investigation into money. . .  Full story

DEUTSCHE BANK CEO SAYS CREATING A HOLDING COMPANY DOESN'T HELP INCREASE REVENUE AND CUT COSTS

17h21 . . .  Full story

DAVOS-DEUTSCHE BANK CEO SAYS VAST MAJORITY OF 20 BIGGEST LEGAL CASES RESOLVED, WORST IS BEHIND US

17h21 . . .  Full story
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Africa

Kenya's finance ministry confirms it sought Eurobond proposals

16h33 Kenya's finance ministry has sought proposals from banks and firms to provide lead manager services for the issuance of a new Eurobond, it said on Wednesday, confirming an earlier source-based report. . .  Full story

Nigerian trade union rejects minimum wage recommendation -spokesman

22/01 A leading Nigerian trade union has rejected a recommendation that the national monthly minimum wage be raised to 27,000 naira ($88) from 18,000 naira, its spokesman said on Tuesday. . .  Full story

Morocco's trade deficit rises 8 pct in 2018

22/01 Morocco's trade deficit rose by 8 percent to 204 billion dirhams ($21.36 billion) compared with a year earlier, the foreign exchange regulator said on Tuesday.. . .  Full story
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