Category: INTERNATIONAL
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European shares down, weighed by healthcare sector after Trump comments
European shares fell on Thursday in early deals, weighed down by healthcare stocks after U.S. President-elect Donald Trump targeted pharmaceuticals’ drug pricing in a press conference. Europe’s healthcare sector index dropped 2.2 percent, the biggest sectoral faller, and headed for its biggest loss since November. The pan-European STOXX 600 index was down 0.5 percent. Trump…
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Dollar loses altitude, Asia shares touch 11-week high
The U.S. dollar nursed widespread losses on Thursday after President-elect Donald Trump’s long-awaited news briefing provided scant clarity on future fiscal policies, disappointing bulls wagering on major stimulus. Yet neither did Trump mention possible tariffs against Chinese exports, a relief for Asian share markets that have feared the outbreak of a global trade war. It…
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Zimbabwe: ‘Command Agric’ Project Benefits Women
The Government-initiated Command Agriculture programme has benefited women who had the zeal to farm but were facing challenges in accessing loans from banks due to stringent requirements, a beneficiary of the programme Mrs Patience Tapomwa of Belford North Estate in Mazowe has said. Mrs Tapomwa, a beneficiary of the land reform programme, committed 40 hectares…
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China’s anti-Teslas: cheap models drive electric car boom
More electric cars are sold in China than in the rest of the world combined, but are mainly locally-branded models that are cheaper and have a shorter range than those offered by foreign automakers such as Tesla (TSLA.O) and Nissan (7203.T). The Chinese-branded electric vehicle (EV) market is propped up by huge government subsidies as…
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Samsung chief questioned by prosecutors in South Korea political scandal
Special South Korean prosecutors questioned the head of top conglomerate Samsung Group [SAGR.UL] on suspicion of bribery on Thursday in an influence-peddling scandal that led to President Park Geun-hye’s impeachment. Park remains in office but has been stripped of her powers while the Constitutional Court decides whether to uphold the December impeachment and make her…
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Stocks Rise, Dollar Drops as Trump Effect Fades: Markets Wrap
Donald Trump’s first press conference as president-elect spurred a brief bout of volatility on U.S. financial markets before stocks, the dollar and Treasuries drifted back toward pre-event levels with investors still awaiting details on the Republican’s policy prescriptions. Treasuries rallied, the dollar tumbled more than 1 percent from its high and U.S. stocks erased gains…
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South Africa: R12 Million for Foreign Firm to Manage SA’s Airline Mergers
It will cost government R12.1m to make use of the services of Bain and Company, the Boston-based consultancy firm appointed to manage the merger of South Africa’s three state airlines – SAA, Mango and SA Express, said Public Enterprises Minister Lynne Brown. Responding to a parliamentary question posed by the DA’s Alf Lees, Brown said…
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U.S:Gold holds near six-week highs on safe-haven demand
Gold on Wednesday held near a six-week high hit in the previous session, with economic and political uncertainty boosting its safe-haven appeal. Markets were waiting for indications on policy from U.S. President-elect Donald Trump’s first news conference since the U.S. elections, due later in the day. “The markets are myopic. There are immediate concerns over…
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Nigerians to strike over oil sector job losses
A Nigerian oil labour union has begun a nationwide strike involving petrol filling stations and tankers in a protest over job losses, a union official said on Wednesday. Cogent Ojobo, Warri zonal chairman of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), said the industrial action had started. “Filling stations, petrol tankers and…
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Investors unfazed by Ivory Coast’s two-day mutiny
Soldiers rampaging through Ivory Coast in a two-day mutiny have done little to dent investors’ faith that President Alassane Ouattara will retain control and push ahead with reforms in a country seen as a rare African success story of recent years. Disgruntled soldiers demanding bonuses and wage rises kicked off a revolt on Friday in…