| |
|
- Investec full-year earnings fall
JOHANNESBURG, MAY 17 - South African investment bank and asset manager Investec posted a 25.9 percent decline in full-year earnings due to bad loans hitting its Australian unit and a weak performance by its investment banking arm. Investec, which is also listed in London, said diluted adjusted earnings per share totalled 30.1 pence in the year through March, compared with 40.6 pence a year earlier. Investec warned in March adjusted and headline earnings per share would decline as much as 27 percent. ...
- Gold Fields Q1 earnings fall, but beat forecasts
JOHANNESBURG, MAY 17 - Gold Fields, the world's fourth-largest gold producer, reported an 18 percent fall in quarterly earnings on Thursday, albeit above expectations, as output and the bullion price in South African rand both fell. The group stuck to its 2012 production target of 3.5 to 3.7 million ounces. The group's adjusted earnings per share fell 18 percent to 300 cents from 368 cents in the previous quarter, just above a Reuters poll of 7 analysts that had seen the number coming in at 273.7 cents. ...
- S.Africa's Tsogo Sun FY profit up 12 pct
JOHANNESBURG, May 17 - Africa's biggest hotels and casino operator Tsogo Sun Holdings reported a 12 percent in full year profit as low interest rates and higher wages boost demand for leisure spending. Tsogo, 40 percent-owned by brewer SABMiller, said adjusted headline earnings per share totalled 121.5 cents in the year to end March compared with 108.5 cents. Consumer are warily spending again in Africa's biggest economy thanks to decades-low interest rates and above-inflation wage settlements Tsogo said it had enough cash to pursue its growth strategy. ...
- Political pressures risk to S.Africa rating: Moody's analyst
 JOHANNESBURG (Reuters) - Rising social pressures are increasingly throwing South African policymakers off track, undermining the predictability of economic decision-making and threatening the country's credit rating, a senior analyst at Moody's said on Wednesday. Along with peers Fitch and S&P, the ratings agency has downgraded the outlook on South Africa's rating to negative from stable over the last six months, citing the threat of political interference in policy-making. ...
- Tanzania gold production up 13 pct in 2011
DAR ES SALAAM (Reuters) - Tanzania's gold production rose to 40.4 tonnes in 2011 from 35.6 tonnes a year ago after mining companies invested in higher output due to cash in on the rising price of the precious metal, its central bank said on Tuesday. The east African state, Africa's fourth largest gold miner behind South Africa, Ghana and Mali, said exports earnings surged 47 percent to $2.226 billion from gold exports last year, helped by higher output and world market prices. "The price of gold went up by 28 percent to $1,568 per troy ounce and the export volume increased to 40. ...
- S.African banks plan cuts rating risk: Moody's
JOHANNESBURG (Reuters) - The creation of a liquidity pool which South African banks can tap to meet the global industry's new Basel III regulatory requirements relieves the pressure for a credit rating downgrade when the new laws come into effect, Moody's said on Wednesday. The central bank has told lenders in Africa's biggest economy that it has approved the creation of a Committed Liquidity Facility after quantitative impact studies on seven banks showed some had inadequate cash at hand to cover outflows in a stress scenario. ...
- South African police seize 10 rhino horn
Police officers tipped off by an anonymous informer forced their way into a Johannesburg apartment where they found 10 rhinoceros horns and an elephant tusk and arrested a Vietnamese man, a police spokesman said Wednesday.
- S.Africa seizes 10 rhino horns in arrest of Vietnamese
JOHANNESBURG (Reuters) - South African police have arrested a Vietnamese man suspected of being in illegal possession of 10 rhino horns, one elephant tusk and cash with a total value of nearly $3 million, an official said on Wednesday. South Africa, the country home to the most rhinos in the world, has been losing almost two of the threatened animals a day to poachers who sell the horns in China and Southeast Asia for use by the affluent as a traditional medicine ingredient. ...
|
|
| more» |
| |
|
For more information about current affairs, business, economy, politics and more, use InsideWorld's free daily e-mail news service.
If you would like to receive news, but do not have an InsideWorld account yet, click below to setup your free account now and start receiving news right away.
|
| |
Click here for your free subscription
Login to your account for
for advanced settings:
InsideWorld
is a collection of country and region web sites providing local news and information to a worldwide audience.
Use InsideWorld’s headlines available on this site to access the latest stories. Or sign up today.
|
RSS Feed