Category: INTERNATIONAL
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South Africa private sector activity boosted on domestic demand: PMI
South Africa’s private sector returned to growth in September as domestic demand picked up, a survey showed on Wednesday. The Standard Bank Purchasing Managers’ Index (PMI), compiled by Markit, rose to 50.7 from 49.8 in August, its highest in 17 months and the first time since May that it has been above the 50 mark…
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South Africa’s Woolworths to buy Australian men’s fashion retailer Politix
South Africa’s Woolworths Holdings plans to buy Australian men’s fashion brand Politix through its subsidiary, Country Road Group, the retailer said on Wednesday. Woolworths, which sells upmarket food and clothing, said the acquisition will be funded using its own resources and is expected to immediately increase the company’s earnings per share. No financial details were…
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Algeria: Eleven Algerian Banks to Provide E-Payment Service, Announces Boudiaf
Eleven (11) banks will provide their customers with e-payment service that will be officially launched on 4 October, Deputy Minister for digital economy and modernization of financial systems Mouatassem Boudiaf. “Six public banks and five private ones will provide e-payment service,” said Boudiaf whose department supervised the implementation of this service in coordination with the…
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Botswana Aviation Standards Get Recognition
Former minister of transport and communications, Mr Tshenolo Mabeo, recently received an International Civil Aviation Organisations (ICAO) Council President Certificate in recognition of Botswana’s “progress in resolving its safety oversight deficiencies and improving the effective implementation of applicable ICAO Standards and Recommended Practices last year.” According to a press release from the ICAO , Mr…
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Zimbabwe: Banks Fleece Borrowers
BANKS in Zimbabwe could still be fleecing borrowers through a litany of charges and the high cost of loans, despite the central bank putting a cap on lending rates; findings from the draft national competitiveness report have shown. The report says borrowers could be paying effective interest rates on bank loans in excess of 24…
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Kenya:MPs call for sacking of KQ chiefs, end of KLM ties after flights delay
MPs last evening criticised the top management of national carrier Kenya Airways and called for their removal from office as well as termination of the airline’s partnership with Dutch carrier KLM. Majority Leader Aden Duale also attempted to connect Opposition chief Raila Odinga to what he said was the imminent collapse of Kenya Airways. But…
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Kenya:New office eases Dubai tycoons entry into Nairobi
Dubai businesses are set to get an easier entry into Kenya with the opening of the Dubai Chamber of Commerce and Industry representative office in Nairobi. Opening of the office was announced Tuesday at the start of a local tour by top officials of the chamber, Dubai’s businessmen and diplomats representing Kenya in the Emirate.…
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Europe:Desperate uranium miners switch to survival mode despite nuclear rebound
The nuclear industry is gradually recovering from its post-Fukushima slump, but excess capacity keeps uranium prices at record lows, forcing mining companies to mothball mines, slice costs and cut debt as they struggle to survive. In the wake of the March 2011 Fukushima disaster, Japan closed its nuclear reactors, which accounted for some ten percent…
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Asia:Global stocks, gold and bond prices slip on talk of ECB taper
Asian shares and gold retreated on Wednesday and bond yields were near two-week highs as markets were rattled by a media report flagging the possible withdrawal of the European Central Bank’s bond buying program. European markets are also poised for a subdued start, with spreadbetters expecting Britain’s FTSE 100 to open as much as 0.2…
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Exclusive: Wells Fargo account scandal extends to small business – U.S. senator
The scandal over improper sales practices at Wells Fargo & Co extended to thousands of small-business owners, according to a U.S. lawmaker, raising questions about the scope the bank’s issues with unauthorized accounts. In a Sept. 29 letter viewed by Reuters on Tuesday, Sen. David Vitter, a Louisiana Republican, demanded that Wells Fargo Chief Executive…