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South Africa pledges $5 bln Eskom bailout as budget creaks

20/02 South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget on Wednesday that exposed the limited room President Cyril Ramaphosa has to fix the economy ahead of an election in May.  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

Deutsche Bank to rebuild in South Africa, months after cuts

20/02 Deutsche Bank is hiring 26 people in South Africa, a spokesman said on Wednesday, less than a year after scaling back the operation in a broad restructuring of its investment bank.  Full story

Most Read This Week

South Africa says has up to 60 tcf of offshore gas potential

15/02 South Africa, where oil major Total recently made a big offshore discovery, said on Friday it had potential gas resources of up to 60 trillion cubic feet in waters off its coast.  Full story

South Africa's state airline to reorganise in turnaround drive

18/02 South Africa's struggling state-owned airline will reorganise into three business units as part of a revamp plan that could also involve the partial sale of its catering unit, its chief executive officer said on Monday.  Full story

Grand Parade to close Dunkin', Baskin Robbins in South Africa

15/02 South Africa's Grand Parade Investments (GPI) Ltd plans to close its loss-making Dunkin Donuts and Baskin Robbins franchises in the country after failing to find a buyer, and will focus on its Burger King outlets, GPI said on Friday.  Full story

 

SA Business

South Africa pledges $5 bln Eskom bailout as budget creaks

20/02 South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget on Wednesday that exposed the limited room President Cyril. . .  Full story

Deutsche Bank to rebuild in South Africa, months after cuts

20/02 Deutsche Bank is hiring 26 people in South Africa, a spokesman said on Wednesday, less than a year after scaling back the operation in a broad restructuring of its investment bank.. . .  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
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SA Company

Rebosis To Sell Some Properties For About R700 Mln

20/02 Rebosis Property Fund Ltd:. . .  Full story

Tiger Brands posts revenue rise on price inflation, volume growth

20/02 South Africa's Tiger Brands on Wednesday reported a one percent rise in group revenue from continuing operations for the four months to January 31 on Wednesday helped by overall price inflation and volume growth.. . .  Full story

BRIEF-Eoh Holdings Says Asher Bohbot, Founder, Non-Executive Chairman & former CEO To Resign From Board

20/02 Eoh Holdings Ltd:. . .  Full story
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Live News Wire

S.Korea Q4 household disposable income logs first rise in 10 quarters

05h00 South Korea's average real household disposable income picked up for the first time in more than two years in the final quarter of 2018, narrowly avoiding a further decline and adding to policy woes focused on boosting income.  Full story

Oil ticks over near 2019 highs amid OPEC cuts, but economic slowdown applies brakes

04h59 Oil prices hovered close to 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were prevented from rising further by slowing growth in the global economy.  Full story

Wheat prices inch up from 7-mth low, but soybeans edge down

04h54 U.S. wheat futures on Thursday inched further away from a seven-month low touched in the previous session, but gains were checked as North American supply struggled to attract strong international demand. FUNDAMENTALS * The most active wheat futures on the Chicago Board of Trade  Full story
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Europe

Anglo American suspends operations at Australian coal mine after fatality

04h38 Anglo American said on Thursday it has suspended operations at its Moranbah North coking coal mine in Australia after one worker died and several were injured on Wednesday.. . .  Full story

Copper eases from 7-month peak as dollar firms on Fed minutes

04h19 London copper prices eased in early Asian trade on Thursday, retreating from a seven-month peak hit in the previous session, as the dollar firmed after the Federal Reserve revived expectations for a possible U.S.. . .  Full story

Gold hovers near 10-mth peak amid steady dollar after Fed minutes

03h19 Gold prices were firm near a 10-month peak on Thursday, with the dollar holding steady in the wake of minutes from the latest U.S. Federal Reserve meeting that rekindled expectations of a possible rate. . .  Full story
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US

Japan auto lobby hopes Trump makes 'appropriate decision' on trade

04h48 Japan's auto industry lobby on Thursday called on U.S. President Donald Trump to make an "appropriate decision" on trade rules governing imported vehicles, repeating its stance that Japanese-made cars posed no threat to U.S. national. . .  Full story

France's Wendel to sell 40 pct stake in Allied Universal to Canada fund

04h17 French investment firm Wendel SE said on Thursday it would sell about 40 percent of its equity stake in security services company Allied Universal to Caisse de dépôt et placement du Québec (CDPQ) at. . .  Full story

Controversial Alaska gold-copper mine moves step closer to approval

03h13 The world's biggest undeveloped gold and copper mining project, planned in southwestern Alaska near the largest fishery for sockeye salmon globally, moved a step closer to approval on Wednesday after the U.S. Army Corps of. . .  Full story
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Asia

Nikkei snaps 3-day winning streak, exporters retreat

04h48 Japan's Nikkei retreated on Thursday as investors took a breather after a 3-day rally even as broader market losses were contained by optimism around U.S.-China trade talks.. . .  Full story

Japan manufacturing shrinks for first time since 2016 amid trade war - PMI

02h51 Japanese manufacturing activity contracted in February for the first time in two-and-a-half years as factories cut output amid shrinking domestic and export orders, a private business survey showed on Thursday.. . .  Full story

Oil settles 1 pct higher on hopes of market rebalance, trade deal

20/02 Crude prices rose more than 1 percent on Wednesday to their highest level this year on hopes that oil markets will balance later this year, helped by output cuts from top producers as well. . .  Full story
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Forex

Australian dollar whipsawed by jobs surge, rate call

04h46 The Australian dollar was whipsawed on Thursday as a resoundingly strong jobs report sent it flying, only to be brought to earth by a forecast of rate cuts from one of the major local. . .  Full story

U.S., China drafting memorandums for possible trade deal

04h38 Top U.S. and Chinese trade officials are working this week to hash out language on six broad agreements that aim to resolve the most contentious issues in their seven-month trade war.. . .  Full story

U.S., China sketch outlines of deal to end trade war -sources

04h38 The United States and China have started to outline commitments in principle on the stickiest issues in their trade dispute, marking the most significant progress yet toward ending a seven-month trade war, according to sources. . .  Full story
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Africa

'Pennies before a steamroller': Nigerian vote delay a reminder of investment risk

20/02 A surprise delay in Nigeria's presidential ballot has served foreign asset managers another reminder of political risk and volatile investment returns in Africa's biggest economy - just days after piling into assets in a bet. . .  Full story

Tunisian central bank sees inflation below 7 pct after rate rise

20/02 Tunisia's central bank chief said he expects inflation to fall below 7 percent following Tuesday's interest rate rise but the government also needs to do more to curb prices.. . .  Full story

Petrol suppliers cut price to encourage Nigerians to travel to vote again

20/02 Nigerian fuel suppliers have cut the price of petrol to encourage people to travel to vote in presidential elections this Saturday after the poll was delayed by a week, the information minister said on. . .  Full story
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