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Most Read Today

South Africa's Eskom to make power cuts on Wednesday

16/10 South Africa's state power firm Eskom said it will cut up to 2,000 megawatts of power from the national grid on Wednesday due to a shortage of generating capacity.  Full story

South Africa's rand tumbles 1% as Eskom plans nationwide power cuts

16/10 South Africa's rand tumbled more than 1% on Wednesday to its softest level in a week after state power utility Eskom said it would implement nationwide blackouts for the first time in more than six months due to capacity shortages.  Full story

South Africa's retail sales up 1.1% year/year in August

16/10 South African retail sales rose 1.1% year-on-year in August following a 2% increase in July, Statistics South Africa said on Wednesday.  Full story

Most Read This Week

South African Airways in talks with potential partners

14/10 South Africa's embattled state-owned airline is open to outside investment and in talks with a number of potential partners, President Cyril Ramaphosa said on Monday.  Full story

South African arms company Denel winds up Aerostructures

11/10 South Africa's Denel is winding up its struggling Aerostructures aircraft parts business after receiving government approval, the state arms company said on Friday.  Full story

Italy out as World Cup games called off for first time due to typhoon

10/10 Rugby World Cup organisers were forced to call off matches for the first time in the tournament's 32-year history on Thursday - eliminating Italy as a result - saying the risk from Typhoon Hagibis made hosting them an impossibility on safety grounds.  Full story

 

SA Business

Zimbabwe cancels deal with Transnet JV to recapitalise state rail firm

10h12 Zimbabwe has cancelled a deal struck with South African logistics group Transnet and its partner to recapitalise state-owned National Railways of Zimbabwe (NRZ), citing a failure to meet timelines and funding. . .  Full story

South Africa's rand slides further as blackouts return

09h05 South Africa's rand inched lower early on Thursday, extending the previous session's sharp drop as the latest nationwide power cuts by state utility Eskom renewed fears of credit ratings downgrades.. . .  Full story

South Africa's Eskom forced to cut power for a second day

08h43 South African power utility Eskom warned of a second day of power cuts on Thursday citing a number of generating units still out of service.. . .  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

UK lenders see worst outlook for business loans since 2008 - BoE survey

10h38 British lenders expect business loans will dry up in the next few months at the fastest rate since the financial crisis, according to a Bank of England survey on Thursday that augured badly for investment as Brexit nears.  Full story

Asia Coffee-Vietnam domestic prices hit 4-month lows; trading thin in Indonesia

10h34 Vietnam's domestic coffee prices fell to four-month lows this week, tracking international prices, while trading was thin in Indonesia at the end of its main harvest season, traders said on Thursday.  Full story

UK retail sales growth softens in Q3 as department stores disappoint

10h32 British shoppers grew more cautious about their spending in the three months to September despite enjoying real growth in their wages, raising concerns about the health of the economy in the run-up to Brexit. Consumer spending has been the biggest driver of British economic growth since June 201  Full story
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Europe

'Not the best owners': UK's Domino's to exit foreign markets

10h29 Domino's Pizza Group Plc, Britain's biggest pizza delivery company, on Thursday said it would quit its loss-making international operations, sending shares higher in early trade.. . .  Full story

Grafton warns on profit as UK construction market stumbles

10h11 Building materials firm Grafton Group Plc warned on Thursday that its annual profit would miss expectations, as the UK construction sector grappled with uncertainties linked to Britain's looming exit from the European Union.. . .  Full story

Brexit scramble looms over fraught EU summit, Merkel says deal possible

10h05 German Chancellor Angela Merkel said a deal on Britain's exit from the EU was still possible as EU leaders headed to Brussels on Thursday for a two-day summit dominated by last-gasp negotiations.. . .  Full story
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US

Chipmaker TSMC raises capex by up to $5 bln, sees Q4 sales jump on smartphones

10h05 Apple Inc supplier TSMC raised its 2019 capital spending plan by up to $5 billion on Thursday and forecast a nearly 10% rise in fourth-quarter revenue on strong demand for faster mobile chips and new. . .  Full story

China urges U.S. to withdraw meeting restrictions imposed against Chinese diplomats

09h36 China's Foreign Ministry said on Thursday that it urges the United States to withdraw new meeting restrictions imposed against Chinese diplomats.. . .  Full story

China stocks flat as investors await trade deal details

09h26 China's major stock indexes ended roughly flat on Thursday in thin trading, as caution prevailed as investors awaited more details on a proposed Sino-U.S. trade deal.. . .  Full story
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Asia

Hong Kong stocks close at one-month high on stimulus hopes

10h30 Hong Kong stocks climbed to end at a one-month high on Thursday, on hopes that more stimulative measures would be rolled out to bolster the island city's growth amid months-long protests.. . .  Full story

Russia's Rosneft suspends work at Iraq oil field near Syria - Ifax

10h17 Russian oil giant Rosneft has decided to suspend work at an oil field in Iraqi Kurdistan because of its proximity to the border with Syria, the Interfax news agency reported on Thursday, citing Rosneft.. . .  Full story

Loosened lending rules in Hong Kong stoke optimism for small apartment sales

10h02 Relaxed mortgage rules in Hong Kong that allow buyers to take on bigger loans will drive small-to-medium flat sales, property agents say, with the changes already prompting some sales.. . .  Full story
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Forex

India to miss fiscal deficit target by 30-50 bps - sources

10h20 India is likely to miss its fiscal deficit target of 3.3% of gross domestic product for the current financial year by 30-50 basis points, two sources said, due to the sharp slowdown in the. . .  Full story

Japan's Taiju Life to shift away from FX-hedged foreign bonds

10h04 Japan's Taiju Life Insurance plans to reduce its holdings of currency-hedged foreign bonds in the six months to March while increasing those of domestic bonds, the company's investment planning official said on Thursday.. . .  Full story

Dollar pinned near 1-month lows on weak data; pound volatile

09h42 The dollar held near a one-month low against its rivals on Thursday as weak data cast a shadow on the outlook for the U.S. economy in the short term with the British pound the. . .  Full story
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Africa

Kenya's president rejects finance bill which kept rate caps

09h54 Kenya's President Uhuru Kenyatta has rejected the 2019/20 budget demanding that lawmakers remove a cap on commercial lending rates, a senior lawmaker and a local daily said on Thursday.. . .  Full story

Zimbabwe bread price jumps 60%, but shortages persist

16/10 The price of bread, Zimbabwe's second most-consumed staple, jumped 60% overnight due to escalating costs of production, the national bakers' association said on Wednesday, adding more woes to consumers grappling with. . .  Full story

Safari Investments Says Lulama L Letlape To Resign As An Independent Non-Executive Director

16/10 Safari Investments (RSA) Ltd:. . .  Full story
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