Most Read Today

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

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,. . .  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. . .  Full story

Boeing, FAA officials called to testify in U.S. Senate on 737 MAX plane crashes

20/03 Boeing Co faced growing pressure in Washington on Wednesday with U.S. lawmakers calling for executives to testify about two crashed 737 MAX jets even as the world's biggest planemaker works to overcome obstacles to returning. . .  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

South Africa's rand stutters as electricity crisis weighs

20/03 South Africa's rand edged lower on Wednesday, lagging gains in its emerging market counterparts, as the prospect of rolling blackouts and bleak demand for local currency dented sentiment.. . .  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

Pound weakens as May's faces resistance for three-month Brexit extension

20/03 Sterling fell on Wednesday after British Prime Minister Theresa May's request to delay Brexit until June 30 faced resistance from parts of the European Union.. . .  Full story

Fed sees no rate hikes in 2019, sets end to asset runoff

20/03 The U.S. Federal Reserve on Wednesday brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year amid signs of an economic slowdown, and saying. . .  Full story

Most Read Yesterday

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

Remgro interim results December 2018

19/03 Sales for the interim period increased to R30.3 billion (2017: R14 billion) whilst trading profit rose to R2.7 billion (2017: R741 million). Net profit for the period attributable to equity holders. . .  Full story

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

No end date for South African power cuts as capacity shortages persist

19/03 South Africa's Public Enterprises Minister Pravin Gordhan said on Tuesday he cannot say yet when rolling blackouts will end, as power utility Eskom struggles with capacity shortages that threaten to thwart. . .  Full story

Zimbabwe seeks to raise $350 million selling shares in state firms

19/03 Zimbabwe expects to raise $350 million from selling shares in five state-owned telecommunications companies and a bank, as part of economic reforms being pursued by the government, Finance Minister Mthuli Ncube said on Tuesday.. . .  Full story

PAI leads the pack for Elior's concession catering brand Areas - sources

19/03 European private equity fund PAI Partners has emerged as the frontrunner in the auction for the concession catering business of France's Elior Group , four sources familiar with the matter told Reuters.. . .  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 miner said.. . .  Full story

South Africa's FDI inflows reach five-year high in 2018

20/03 South Africa's foreign direct investment more than doubled in 2018 to reach its highest in five years, the central bank said on Wednesday, giving a boost to President Cyril Ramaphosa's pledge. . .  Full story

South Africa's February inflation tame, central bank to keep rates pat

20/03 South African inflation was in line with forecasts in February at 4.1 percent annually and 0.8 percent month-on-month as food prices remained steady, supporting expectations the central bank will keep interest. . .  Full story

Palladium scales new peak; gold up as Fed leaves rates steady

20/03 Palladium hit an all-time high on Wednesday on concerns over tight supplies of the autocatalyst metal, while gold reversed course to rise after the U.S. Federal Reserve kept interest rates unchanged.. . .  Full story

Most Read This Month

Aspen to split South African pharma business after disposal of non-core assets

07/03 Multinational drugmaker Aspen Pharmacare said it will split its South African Commercial Pharmaceuticals business into two divisions as it disposes of non-core assets to reduce its debt.. . .  Full story

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

Africa's top pay-TV group MultiChoice jumps 15 percent on JSE debut

27/02 Shares in Africa's biggest pay-TV group MultiChoice leapt around 15 percent on its market debut on Wednesday, launching the company straight into the top-40 firms on Johannesburg's bourse.. . .  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. . .  Full story

S.Africa's Group Five in business rescue after lenders pull plug

12/03 South African builder Group Five filed for bankruptcy protection on Tuesday after lenders pulled funding, threatening the collapse of one of the biggest names in the local construction industry and more. . .  Full story

Aspen interim results December 2018

07/03 Revenue for the interim period moved up by 1% to R19.7 billion (2017: R19.5 billion), gross profit grew 2% to R10.2 billion (2017: R10 billion) and operating profit was 6%. . .  Full story

Ethiopian plane smoked and shuddered before deadly plunge

11/03 The Ethiopian Airlines plane that crashed killing 157 people was making a strange rattling noise and trailed smoke and debris as it swerved above a field of panicked cows before hitting earth, according to witnesses.. . .  Full story

South Africa steps up power cuts after fault at new mega plant

14/03 South Africa's state utility Eskom stepped up power cuts on Thursday after a breakdown at its mammoth Kusile power plant project exacerbated a shortfall of generating capacity, reminding investors of. . .  Full story

South Africa's startup TymeBank could break even by 2022

27/02 TymeBank, one of several digital-only startups aiming to shake up South Africa's banking industry, could break even by 2022, the bank's executives said on Tuesday.. . .  Full story

Shares in S.Africa's Aspen plunge on debt, slow sale proceeds

08/03 Shares in Aspen Pharmacare lost almost a third of their value on Friday on concerns about ballooning debt at Africa's biggest drugmaker and delays in the sale of an infant formula. . .  Full story

South Africa appoints experts to lead Eskom reform

05/03 South Africa has appointed 11 industry experts to investigate failures at power company Eskom's ageing coal-fired stations and other breakdowns that have caused the worst electricity shortages in a decade, the. . .  Full story

South Africa's power cuts to continue as Eskom battles shortages

18/03 South Africa's state utility Eskom will make more power cuts this week as it struggles with capacity shortages that threaten to stymie President Cyril Ramaphosa's efforts to boost investments and economic. . .  Full story

Remgro interim results December 2018

19/03 Sales for the interim period increased to R30.3 billion (2017: R14 billion) whilst trading profit rose to R2.7 billion (2017: R741 million). Net profit for the period attributable to equity holders. . .  Full story

South Africa's Standard Bank to cut around 1,200 jobs, close 91 branches

14/03 South African lender Standard Bank will cut around 1,200 jobs and close 91 branches as part of efforts to digitise its retail and business bank, it said on Thursday.. . .  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

Consortium to take minority stake in South Africa's Cell C

22/02 Blue Label Telecoms said on Friday a consortium had agreed to take a minority stake in South Africa's third largest mobile carrier Cell C, of which it owns 45 percent.. . .  Full story

S.Africa's FirstRand CEO says likely to shrink branches

12/03 FirstRand will likely need to shrink its branch network over the next decade as South Africa's largest retail bank looks to digitise and adopt a platform model offering services beyond banking, CEO Alan Pullinger said. . .  Full story

Shares in South Africa's Tongaat fall to lowest level since 1993

11/03 Shares in South Africa's Tongaat Hulett fell more than 14 percent early on Monday, after its announcement last week that it had appointed PricewaterhouseCoopers (PwC) to review past accounting practices.. . .  Full story

S.Africa's FirstRand sees earnings increase from Discovery Card sale

22/02 FirstRand, one of South Africa's largest lenders, said on Friday it expects basic earnings per share for the first half of its financial year to increase between 22 percent and 24 percent.. . .  Full story

S.Africa's Old Mutual FY profit drops; co plans $138 mln buyback

11/03 Old Mutual Ltd posted a 12 percent drop in adjusted full-year profit on Monday, missing its 2018 targets as a sluggish economy weighed on South Africa's No.2 insurer's first year as. . .  Full story

South Africa's MTN slides on profit guidance below forecasts

01/03 Shares in MTN Group fell as much as 5.4 percent on Friday, a day after the South African mobile phone group announced guidance for annual profit that was lower than forecasts.. . .  Full story

Sasol interim results December 2018

25/02 Turnover for the interim period shot up to R102.9 billion (2017: R88.2 billion) and earnings before interest and tax (EBIT) rose to R20.8 billion (2017: R11.8 billion). Earnings for the period. . .  Full story

No end date for South African power cuts as capacity shortages persist

19/03 South Africa's Public Enterprises Minister Pravin Gordhan said on Tuesday he cannot say yet when rolling blackouts will end, as power utility Eskom struggles with capacity shortages that threaten to thwart. . .  Full story

S.African rand's recent slump is over, risks priced in

07/03 The recent slump in South Africa's rand is over and the currency will hover around current levels in the coming year as investors shrug off credit rating reviews and domestic elections,. . .  Full story

Zimbabwe scraps bond note, U.S. dollar peg - central bank

20/02 Zimbabwe on Wednesday abandoned a peg that was supposed to ensure its quasi-currency bond note would trade at parity with the U.S. dollar, Central Bank Governor John Mangudya said.. . .  Full story

Old Mutual final results December 2018

11/03 Total revenue from continuing operations went down to R109.9 billion (R175.9 billion). Profit attributable to equity holders jumped to R36.6 billion (R14.4 billion). Furthermore, headline earnings per share grew to 306.9. . .  Full story

South Africa pledges $5 bln Eskom bailout as budget creaks

21/02 South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget that exposed the limited room President Cyril Ramaphosa has. . .  Full story

Shoprite hit by challenges in Africa's frontier markets

26/02 Africa's largest supermarket group Shoprite reported on Tuesday its first half-year earnings decline in over a decade, hit by a currency devaluation in Angola, highlighting the challenges of doing business in frontier African markets.. . .  Full story

S.African regulator grants Eskom smaller tariff hikes than sought

07/03 South Africa's energy regulator Nersa on Thursday granted struggling state power firm Eskom average power price increases that were far below what the utility had asked for, saying it aimed to. . .  Full story

Aspen - results notification

04/03 Shareholders are advised that Aspen intends releasing its results for the half-year ended 31 December 2018 after market close on Thursday, 7 March 2019 on SENS. This announcement will be followed. . .  Full story