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Most Read Today

Scandal-hit Steinhoff says will suffer more in 2019

11h29 Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro ($1.3 billion) annual loss, sending its volatile shares down 8 percent.  Full story

South African consumer inflation subdued, upping rate cut chances

11h41 South African inflation stayed well within the central bank's target range in May, making it more than two years since it last breached the ceiling, raising the possibility of a rate cut as calls for the bank to support the flagging economy swell.  Full story

Rand rallies as Ramaphosa set to give more support for Eskom

18/06 South Africa's rand rallied in late trade on Tuesday after the government signalled it will give additional support to power firm Eskom and as emerging currencies were lifted by expectations the Federal Reserve could signal U.S. rate cuts.  Full story

Most Read This Week

Rand slips on investigation into Ramaphosa campaign donation

13/06 South Africa's rand slipped on Thursday, as investors were unnerved by an investigation into a donation for President Cyril Ramaphosa's 2017 campaign for leader of the governing African National Congress (ANC) party.  Full story

In race to digitise, skills gap a drag on South Africa's big banks

14/06 A severe shortage of computer skills in South Africa has left its major banks fighting over a limited pool of people with the skills they need to upgrade technology platforms and keep pace with changing customer demands and competition from new rivals.  Full story

Scandal-hit Steinhoff says will suffer more in 2019

11h29 Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro ($1.3 billion) annual loss, sending its volatile shares down 8 percent.  Full story

 

SA Business

Virgin Money South Africa plans bank account, expansion for fintech app

16h43 Virgin Money South Africa will launch a zero monthly fee bank account and cheap cross-border payments on its financial technology app, and could eventually roll this out in other developing markets,. . .  Full story

South African consumer inflation subdued, upping rate cut chances

11h41 South African inflation stayed well within the central bank's target range in May, making it more than two years since it last breached the ceiling, raising the possibility of a rate. . .  Full story

Scandal-hit Steinhoff says will suffer more in 2019

11h40 Steinhoff International warned of the lingering damage from a massive accounting scandal after the South African retail group reported a 1.2 billion euro ($1.3 billion) annual loss, sending its volatile shares. . .  Full story
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SA Company

African banks to fund construction of world’s biggest marine diamond mining vessel

15h13 Five African commercial banks have partnered in a $375 million financing deal to build a new diamond mining vessel for a subsidiary of Anglo American's diamond unit De Beers.. . .  Full story

SA Corporate Real Estate Fund Managers Reconstitutes Nomination Committee

10h04 SA Corporate Real Estate Fund Managers (Pty) Ltd:. . .  Full story

Rand rallies as Ramaphosa set to give more support for Eskom

18/06 South Africa's rand rallied in late trade on Tuesday after the government signalled it will give additional support to power firm Eskom and as emerging currencies were lifted by expectations the Federal Reserve could signal. . .  Full story
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Live News Wire

UAW opposes Trump proposal to freeze fuel rules at 2020 levels -testimony

21h02 The United Auto Workers (UAW) will tell Congress on Thursday the union opposes the Trump administration's proposal to freeze fuel efficiency requirements at 2020 levels through 2026, according to written testimony.  Full story

Wall Street climbs after Fed signals potential rate cuts

21h01 Wall Street rose on Wednesday after the Federal Reserve held interest rates steady and signaled potential cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth.  Full story

Dollar drops after Fed holds rates steady, risk assets gain

20h53 The dollar weakened on Wednesday and risk assets benefited after the U.S. Federal Reserve announced it held interest rates steady in June, but signaled a possible rate cut by the end of the year.  Full story
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Europe

Lloyd's to meet with insurers AIG, Chubb to boost U.S. business -CEO

20h49 Lloyd's of London Ltd is meeting with major U.S. insurers about driving more business through its global insurance market, Chief Executive Officer John Neal said on Wednesday.. . .  Full story

Staff evacuated as rocket strikes near foreign oil firms in Iraq

20h29 A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.-Iran tensions in the region.. . .  Full story

French ASN orders EDF to fix weldings on Flamanville nuclear reactor

20h28 French nuclear regulator ASN said in a statement on Wednesday that utilitiy EDF will have to repair eight faulty weldings that traverse the containment vessel at the nuclear reactor EDF is building in Flamanville, northern. . .  Full story
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US

What is Slack?

20h35 Slack Technologies Inc, whose instant messaging app has taken workplaces by storm, is scheduled to go public via a direct listing on June 20, instead of the more popular initial public offering route.. . .  Full story

U.S. yields fall after Fed signals rate cuts this year

20h32 U.S. Treasury yields turned lower on Wednesday after the Federal Reserve held interest rates steady, as expected, but flagged possible rate cuts of as much as half a percentage point later this year.. . .  Full story

U.S. refiner Phillips 66 enters offshore oil export race

20h25 U.S. oil refiner Phillips 66 is proposing a deepwater crude export terminal off the U.S. Gulf Coast, the company said on Wednesday, challenging at least eight other projects aiming to send U.S. shale oil. . .  Full story
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Asia

India plans to exempt electric vehicles from registration fee

16h52 India has issued draft rules to exempt electric vehicles from paying registration fee, the government said in a statement on Wednesday, as it looks to cut its dependence on fossil fuels.. . .  Full story

Turkish opposition questions credibility of inflation data

16h18 Turkey's main opposition party filed a motion to parliament on Wednesday saying that adjustments to the methodology used by Turkey's Statistical Institute (TUIK) when calculating inflation were unprecedented and damaged credibility.. . .  Full story

Indonesia to restore 200,000 hectares of peatland this year

14h28 Indonesia's Peatland Restoration Agency said on Wednesday that it aims to restore 200,000 hectares of peatland in 2019, as it races to reach a 1 million hectare restoration target by the end of next. . .  Full story
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Forex

Stocks gain, yields lower after Fed signals possible rate cuts

20h47 A gauge of global stock markets added to gains on Wednesday and benchmark U.S. Treasury yields and the U.S. dollar fell after the U.S. Federal Reserve signaled possible rate cuts of as much as. . .  Full story

Sterling rises for a second day before central bank meeting

17h38 The pound rallied more than half a percent on Wednesday as investors trimmed their short bets before the Bank of England's policy meeting on Thursday where it may strike a relatively more confident tone. . .  Full story

Markets see long fight ahead as ECB battles low inflation expectations

17h16 Mario Draghi's dramatic Tuesday hints of further monetary easing by the European Central Bank has stabilized collapsing euro zone inflation expectations, but the departing ECB chief will struggle to calm market fears of Japan-style economic. . .  Full story
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Africa

Nigeria to consider its industries in Africa free trade zone decision

19h02 Nigeria will consider the interests of its industries in deciding whether to sign up to a $3 trillion Africa free-trade agreement, President Muhammadu Buhari said in a meeting with local manufacturers on Wednesday.. . .  Full story

Namibia targets $1 billion worth of investments

18h59 Namibia is to host a two-day economic summit which is expected to attract at least $1 billion worth of investments over the next two years, the Ministry of Information and Communications Technology said on. . .  Full story

Kenyan parliament committee proposes nationalisation of Kenya Airways

18/06 A Kenyan parliamentary committee on Tuesday recommended the nationalisation of loss-making Kenya Airways as part of efforts to turn the airline around, a draft report said.. . .  Full story
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