JOHANNESBURG (Reuters) – South African insurer Discovery Ltd held off on restoring its dividend on Thursday, even as it reported a 26% jump in normalised half-year profits and said big bets on growth initiatives were showing signs of paying off. Discovery has not paid a dividend since before the pandemic, and held back even as …
Insurer Discovery half-year profit jumps; holds dividend on COVID worries Read More »
By Rachel Savage and Promit Mukherjee LONDON/JOHANNESBURG (Reuters) -South Africa’s rand steadied on Wednesday, after the finance ministry said in the national budget that debt would peak lower than previously expected and spending would grow only modestly. Finance Minister Enoch Godongwana announced in his maiden budget that higher prices for South Africa’s key commodities exports …
S.Africa’s rand steady amid better debt outlook in budget Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Treasury will trim its budget deficit forecasts for coming years later on Wednesday as bumper commodity prices boost corporate tax receipts, a Reuters poll of economists found. The deficit will narrow to 5.9% of gross domestic product (GDP) for the year that begins March 1 from this …
South Africa expected to announce trimmed deficits for coming years Read More »
By Vuyani Ndaba JOHANNESBURG (Reuters) – South Africa’s Treasury will trim its budget deficit forecasts for coming years later on Wednesday as bumper commodity prices boost corporate tax receipts, a Reuters poll of economists found. The deficit will narrow to 5.9% of gross domestic product (GDP) for the year that begins March 1 from this …
South Africa expected to announce trimmed deficits for coming years Read More »
GABORONE (Reuters) – Botswana Central Bank indicated a likely hike in interest rates at Thursday’s first Monetary Policy Committee meeting of the year after reporting inflation running at a 13-year high in January. Governor Moses Pelaelo said the medium-term outlook remained favourable, with inflation expected to fall back within the 3-6% objective range in the …
Botswana’s cenbank hints at rate hike on Thursday Read More »
LONDON (Reuters) – South Africa’s labour department is negotiating a possible out-of-court settlement with a subsidiary of China’s Huawei Technologies, which it accuses of failing to comply with local hiring quotas, a government official told Reuters. South Africa is facing its highest unemployment levels since the end of white minority rule in 1994. Authorities took …
South Africa in talks with Huawei subsidiary to settle lawsuit over hiring Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) -South African pharmaceutical firm Adcock Ingram plans to launch a range of new products in the next six months to boost revenues and profits, its CEO said, after the company announced a 30% rise in profit for the six months ended Dec. 31. Its headline earnings per share, the main …
Drugmaker Adcock’s half year profit rises 30%, eyes new product launches Read More »
ABUJA (Reuters) – Nigeria’s Union Bank, which is in the process of being taken over by newly established rival Titan Trust Bank, plans to sell its British subsidiary to existing investors, it said on Tuesday. The mid-tier lender said it will seek a shareholder vote on March 29 for the sale and to appoint advisers …
JOHANNESBURG (Reuters) -The South African rand and stocks strengthened on Tuesday, as investors hoped that a war in Ukraine could be averted despite Russia’s deployment of troops to two breakaway regions in eastern Ukraine. The threat of a conflict on Europe’s eastern flank had flared on Monday, shaking global markets. [GLOB/MKTS] But investors were soothed …
South African rand and stocks gain on hopes Ukraine war can be averted Read More »
By Promit Mukherjee JOHANNESBURG (Reuters) -South Africa-based gold miner AngloGold Ashanti has begun a complete review of its assets, its CEO said on Tuesday, in a bid to bridge the gap in performance of its mines compared with rivals. The miner, with operations across Africa, Australia and Latin America, reported a 38.66% drop in profit …
AngloGold starts asset review to close performance gap with rivals Read More »
