Mon May 20, 2013 11:21am EDT * First-half profit down 26 pct * 445 million rand of bad loans written off * Shares down 16 pct (Recasts, adds analyst comment, background) By David Dolan JOHANNESBURG, May 20 (Reuters) – South African lender African Bank Investments posted a 26 percent drop in first-half profit on Monday, [...]
Mon May 20, 2013 2:37am EDT (Corrects day of the week) * Headline EPS at 321 cents vs 245 cents * Revenue up 11 percent at 31.3 billion rand JOHANNESBURG, May 20 (Reuters) – South African industrial group Barloworld Ltd boosted first-half profit by a third on Monday, as a solid result in its Russian [...]
Migrant workers employed in South Africa pay among the highest charges in the world to send their money back home. The World Bank estimates that as much as 21 percent of the money set aside for family members back home is spent on simply getting it there. Workers have little choice, however, if they want [...]
By Helen Nyambura-Mwaura JOHANNESBURG | Thu May 16, 2013 5:29am EDT JOHANNESBURG (Reuters) – Miners at South Africa’s Anglo American Platinum operations will stop work from Thursday evening over proposed job cuts, an official for mineworkers union AMCU said, sending the company’s shares and rand sharply lower. “The night shift today is not going underground [...]
As many as 28 percent of South African schoolgirls are HIV positive, because older men are exploiting them, according to the country’s health minister. Aaron Motsoaledi said on Thursday that four percent of schoolboys have the virus, proving it is “sugar daddies” who are responsible. “It is clear that it is not young boys who [...]
Absa Asset Management, a Johannesburg-based unit of Barclays Plc (BARC), plans to set up a $100 million fund to invest in African shares, said Managing Director Busisa Jiya. “We are now at the point where we are speaking with the regulator in South Africa,” he said in an interview in Lusaka, the Zambian capital, on [...]
The work report is the closest thing China has to a State of the Union address. The latest annual report (PDF), delivered by outgoing premier Wen Jiabao on March 5, shows a clear awareness among China’s leaders that the nation faces major challenges. The economy was portrayed as still too reliant on investment over consumption [...]
A majority of Venezuelans believe President Hugo Chavez, who hasn’t appeared in public for more than two months since undergoing his fourth cancer operation in Cuba, will recover from his illness. About 57 percent of the self-declared socialist’s compatriots think that while he isn’t cured of cancer, he will eventually defeat the disease, said Luis [...]
Old Mutual Plc (OML), Africa’s biggest insurer, set aside 5 billion rand ($550 million) for acquisitions in fast-growing countries on the continent after full-year profit beat analysts’ estimates. The insurer, based in London, will spend the money on majority and minority stakes in firms selling insurance and savings products to Africa’s growing middle class over [...]
South Africa’s purchasing managers’ index rose in February, showing an expansion in factory output for the first time in six months, as a weaker rand helped boost demand for locally produced goods, Kagiso Tiso Holdings said. The seasonally adjusted index increased to 53.6 from 49.1 in January, Johannesburg-based Kagiso said in an e-mailed statement today. [...]
Eskom Holdings SOC Ltd., the supplier of 95 percent of South Africa’s electricity, is allowed to raise fees by an average 8 percent in each of the next five years, half the annual advance requested. Power prices will climb to 65.51 cents ($0.07) per kilowatt hour from April and to 89.13 cents by 2018, Cecilia [...]
South Africa posted a record trade gap in January as companies boosted machinery imports and mining exports slumped, threatening to widen a growing current-account deficit and undermine the currency. The shortfall reached 24.5 billion rand ($2.8 billion) last month compared with 2.7 billion rand in December, the Pretoria- based South African Revenue Service said today [...]
India’s government raised spending on the poor to court support before elections, relying on higher taxes, asset sales and subsidy cuts to trim the widest fiscal deficit in major emerging nations as economic growth slows. The country targets a shortfall of 4.8 percent of gross domestic product in the 12 months starting April 1, and [...]
— India’s finance minister is pledging to revive economic growth by trimming the country’s fiscal deficit. He also says India is in critical need of foreign investment to reverse the worst slowdown in a decade for Asia’s third largest economy. Speaking to parliament during the presentation of the country’s annual budget, Finance Minister P. Chidambaram [...]
Eskom Holdings SOC Ltd., the supplier of 95 percent of South Africa’s electricity, is allowed to raise fees by an average 8 percent in each of the next five years, half the annual advance requested. Power prices will increase to 65.51 cents ($0.07) per kilowatt hour from April and to 89.13 cents by 2018, Cecilia [...]
LONDON (AP) — Markets rebounded on Wednesday as the immediate fallout from the inconclusive Italian elections faded and investors greeted a raft of positive economic news from both sides of the Atlantic. Stocks around the world took a battering earlier this week as the Italian election results failed to deliver a knockout victory for any [...]
South African Finance Minister Pravin Gordhan will delay plans to narrow the budget deficit as mining strikes and a slow recovery in Africa’s biggest economy curb tax revenue. The deficit target was raised to 5.2 percent of gross domestic product in the year through March from 4.8 percent estimated in October, Gordhan said in his [...]
European (SXXP) stocks rose, rebounding from yesterday’s selloff, before Italy auctions as much as $5 billion worth of long-term debt today. U.S. futures were little changed while Asian shares fell. European Aeronautic, Defence Space Co. gained 4 percent after predicting earnings will rise in 2013. Anheuser-Busch InBev NV fell 1.2 percent after saying it expects [...]
European (SXXP) stock-index futures advanced, indicating the region’s benchmark equity index will rebound from yesterday’s selloff, before Italy looks to auction as much as $5 billion worth of long-term debt today. U.S. futures were little changed while Asian shares fell. Holcim Ltd. may be active after the world’s largest cement maker reported a wider-than-estimated fourth-quarter [...]
South African Finance Minister Pravin Gordhan may struggle to rein in the budget deficit as a slowing economy curbs tax revenue, pushing the risk premium on the nation’s bonds to the highest level in more than six months. The extra yield investors demand to hold South African dollar debt instead of U.S. Treasuries has risen [...]
Enter your email address below to receive updates each time we publish new content.
Divide Nigeria Peacefully OR by Civil War
The fact that Boko Haram has succeeded in waging war against Nigeria in total violation of the fundamental principles of society means Nigeria security arrangements have failed, and either the personnel are untrained or ill-equipped to meet the present and future threats to Nigeria territorial integrity The perpetual granting of amnesty to people who commit [...]
The Big Uniport Four (Jonathan, Amaechi, Wike & Princewill) And Way Out Of The Rivers Macabre Dance
The Big Uniport Four (Jonathan, Amaechi, Wike Princewill) And Way Out Of The Rivers Macabre Dance By Eze Chukwuemeka Eze. ezemediaconcept08@rocketmail.com, 08038199163 PREAMBLE Sir Winston Leonard Spencer-Churchill was a British politician who was the Prime Minister of the United Kingdom from 1940 to 1945 and again from 1951 to 1955. Widely regarded as one of [...]
Fulani Forum to NEF: You Do Not Represent The Good People of North Nigeri
Fulani Forum to NEF: You Do Not Represent The Good People of North Nigeria In lieu of your statement: NEF to Jonathan: You‘ve declared war on Northern Nigeria We progressive youth of North Nigeria hereby assert that the Northern Elders Forum (NEF) does not represent the good people of North Nigeria. We are disappointed in [...]
Japan, a subtle but effective partner for Africa
Japan, a subtle but effective partner for Africa Interview with JICA President, Akihiko Tanaka By Jocelyne Sambira Africa’s continued growth has sparked the interest of investors from industrialized nations, resulting in fierce competition for its resources and markets. The aggressive economic expansion efforts by China and India, among others, come to mind. Japan, however, has [...]
Malian children face education crisis
Malian children face education crisis Conflict disrupts schools By Kingsley Ighobor While the world remains focused on ending Mali’s conflict following rebel incursions into the northern part of the country early last year, there are about 400,000 Malian children facing severe disruptions in their education, warns the UN Children’s Fund, UNICEF. The fund and other [...]
Livestock tracking in Africa goes high tech
Livestock tracking in Africa goes high tech By Pavithra Rao In an era of lightning speed, ever-present wireless connectivity, high tech is now also being used to benefit livestock farmers in rural areas of Africa. Widely known for being used to track wild animals, GPS, or “Global Positioning System” tracking devices are being adapted by [...]
Boko Haram Are Cannibals and Drug Addicts; It Is Time To Eradicate This Scourge
Boko Haram Are Cannibals and Drug Addicts; It Is Time To Eradicate This Scourge To the President and Nigeria’s people AssalamualikumWe the MuslimsAgainstTerror.com here by offer our prayers and support for the mission to bring an end to Abubakar Shekau’s Boko Haram. We are pleased to hear of the declared states of emergency. Even though [...]
Latest Jobs in Nigeria
