world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

KPMG South Africa picks outsider as CEO after scandals

The offices of auditors KMPG are seen in Cape Town, South Africa, September 19, 2017. REUTERS/Mike Hutchings JOHANNESBURG (Reuters) – KPMG’s South African unit named an outsider, Ignatius Sehoole, as chief executive on Wednesday, as the auditing firm scrabbles to retain clients after being ensnared in political scandals. Sehoole, the current deputy chief executive PwC’s […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

Zimbabwe on course to meet budget deficit targets – finmin

Zimbabwean Finance Minister Mthuli Ncube arrives to deliver his 2019 Budget speech at Parliament in Harare, Zimbabwe, November 22, 2018. REUTERS/Philimon Bulawayo HARARE (Reuters) – Zimbabwe is on track to meet a narrower budget deficit of 5 percent of GDP in 2019 from an estimated 11.7 percent this year, Finance Minister Mthuli Ncube said on […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

Asset sales can’t fix problems at South Africa’s Eskom, chairman says

Eskom’s chairman Jabu Mabuza gestures during the 2018/19 interim results at the Eskom’s head office at Megawatt Park, in Sunninghill, South Africa, November 28, 2018. REUTERS/Siphiwe Sibeko JOHANNESBURG (Reuters) – South Africa’s state-owned power utility Eskom should look at government equity injection and debt relief among options to assist the troubled firm with its financial […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

Gold Fields improves severance terms at South Deep in bid to end strike

JOHANNESBURG (Reuters) – Gold Fields said on Wednesday it had offered union members striking at its South Deep mine in South Africa an increased severance package to try to resolve the dispute which has halted production. Workers are seen underground at Gold Fields South Deep mine in Westonaria, 45 kilometres south-west of Johannesburg, March 9, […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

South African state pension fund raises stake in MTN to 23.6 pct

Men sit on motorbikes past advertising posters for MTN telecommunication company along a street in Lagos, Nigeria October 30, 2018. REUTERS/Afolabi Sotunde JOHANNESBURG (Reuters) – A South African state-owned pension fund has raised its stake in mobile phone operator MTN Group to nearly 24 percent, regulatory filings showed on Wednesday, a bet on the company […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

S.Africa’s Eskom says asset sales can’t solve problems as flags big loss

JOHANNESBURG (Reuters) – South African state-run power firm Eskom said on Wednesday that asset sales could not solve its problems and that a bailout or debt relief were preferable, as it flagged a loss before tax of more than 11.2 billion rand ($800 million) this financial year. An Eskom logo is seen at the entrance […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

Kenya’s foreign exchange rate reflects true value -cenbank governor

NAIROBI (Reuters) – Kenya’s central bank governor on Wednesday dismissed a report by the International Monetary Fund (IMF) that its national currency was overvalued and said the fund had used an inappropriate method to assess the shilling’s worth. Kenya Central Bank Governor Patrick Njoroge speaks during an interview with Reuters in his office in the […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

Tanzania central bank suspends five banks from interbank FX market

DAR ES SALAAM (Reuters) – Tanzania’s central bank has suspended five banks from trading in the interbank foreign exchange market for one month for breaching regulatory rules, a senior official said on Wednesday. Barclays Bank Tanzania, Exim Bank, UBA Bank, BancABC and Azania Bank were all suspended from the market on Nov. 23 for violating […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

South African central bank expects volatile rand in 2019

South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg January 17, 2013. REUTERS/Siphiwe Sibeko JOHANNESBURG (Reuters) – South Africa’s rand will remain volatile in 2019, making monetary policy complicated and focused on long-term inflation factors rather than short-term market shocks, central bank Deputy […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

South Africa’s rand weakens on risk aversion; stocks rise

People walk near the reception at the Johannesburg Stock Exchange (JSE) in Sandton, Johannesburg, South Africa December 10, 2015. REUTERS/Siphiwe Sibeko JOHANNESBURG (Reuters) – South Africa’s rand weakened against the dollar on Wednesday amid dwindling demand for riskier assets and fears U.S.-China trade tension would not be resolved at an upcoming G20 summit. At 1500 […]

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

South Africa’s rand retreats from 3-month high, stocks fall

JOHANNESBURG (Reuters) – South Africa’s rand fell on Friday, giving back some of Thursday’s gains after a hike in the official borrowing rate by the central bank helped the currency hit a three-month high.

Read More
world news, trump, u.s., business news, stock market, entertainment news, business news, company news, market, commodities, commodity, Africa news

Egypt on track to achieve its financial targets – finance minister

CAIRO (Reuters) – Egypt’s state revenues grew by 35.5 percent in the first quarter of this fiscal year, putting the government on track to achieve its targeted budget surplus of 2 percent, the finance minister said on Friday.

Read More