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South Africa investigates $80 million bitcoin scam

25/05 South African authorities are investigating an alleged cryptocurrency scam that defrauded investors of 1 billion rand ($80 million) with promises of huge returns that never materialised, police said on Friday.. . .  Full story

India's Mahindra opens first assembly plant in South Africa

25/05 Indian automaker Mahindra and Mahindra has opened its first assembly plant in South Africa, which it sees as a launchpad to export vehicles to the rest of the continent, the chief. . .  Full story

Kenya moves to regulate fintech-fuelled lending craze

26/05 Kenya built a reputation as a pioneer of financial inclusion through its early adoption of a mobile money system that enables people to transfer cash and make payments on cellphones without. . .  Full story

Old Mutual - court meetings & general meeting

25/05 Old Mutual will hold a General Meeting (the ˘General Meeting÷) and two further shareholder meetings convened with the permission of the UK Court (the ˘Court Meetings÷) from 10.30am (UK time) on. . .  Full story

South Africa seen nudging up maize output estimate

25/05 The estimate for South Africa's 2018 maize harvest is expected to be raised slightly due to favourable weather conditions, with seasonal dry weather allowing for harvesting operations to get underway.. . .  Full story

China April industrial profit growth rebounds to 6-month high

05h10 Profits earned by Chinese industrial firms in April rose at their fastest pace in six months, data from the National Bureau of Statistics (NBS) showed on Sunday, as factories benefited from higher prices. . .  Full story

ATON raises bid for South Africa's Murray & Roberts, ups stake to 44 pct

25/05 German investment house ATON raised its takeover offer for Murray & Roberts by about 13 percent to $426 million on Friday, attempting to secure investor backing after the South African builder. . .  Full story

South African rand dips ahead of credit rating reviews

25/05 South Africa's rand weakened in cautious trade early on Friday as investors took profits from a rally in the previous session ahead of a ratings decision by S&P Global.. . .  Full story

Daimler faces scrutiny of 120,000 Vito, C-Class diesels -BamS

00h13 Daimler faces an investigation of 40,000 diesel Vito vans and 80,000 C-Class model cars for possible illicit software that allowed the vehicles to emit excess pollution without detection, Bild am Sonntag reported, citing no sources.. . .  Full story

S&P, Dow fall as oil drop hurts energy; chipmakers boost Nasdaq

25/05 The S&P 500 and the Dow eased on Friday after a steep drop in oil prices pressured energy stocks, but losses were limited by gains in chipmakers and retail stocks.. . .  Full story

Most Read Yesterday

South Africa investigates $80 million bitcoin scam

25/05 South African authorities are investigating an alleged cryptocurrency scam that defrauded investors of 1 billion rand ($80 million) with promises of huge returns that never materialised, police said on Friday.. . .  Full story

India's Mahindra opens first assembly plant in South Africa

25/05 Indian automaker Mahindra and Mahindra has opened its first assembly plant in South Africa, which it sees as a launchpad to export vehicles to the rest of the continent, the chief. . .  Full story

Old Mutual - results of shareholder meetings

25/05 Old Mutual plc (˘Old Mutual÷ or the ˘Company÷) announces that at the first court meeting, the second court meeting and the general meeting of Old Mutual shareholders each held earlier. . .  Full story

ATON raises bid for South Africa's Murray & Roberts, ups stake to 44 pct

25/05 German investment house ATON raised its takeover offer for Murray & Roberts by about 13 percent to $426 million on Friday, attempting to secure investor backing after the South African builder. . .  Full story

South African rand dips ahead of credit rating reviews

25/05 South Africa's rand weakened in cautious trade early on Friday as investors took profits from a rally in the previous session ahead of a ratings decision by S&P Global.. . .  Full story

Kenya moves to regulate fintech-fuelled lending craze

26/05 Kenya built a reputation as a pioneer of financial inclusion through its early adoption of a mobile money system that enables people to transfer cash and make payments on cellphones without. . .  Full story

South Africa seen nudging up maize output estimate

25/05 The estimate for South Africa's 2018 maize harvest is expected to be raised slightly due to favourable weather conditions, with seasonal dry weather allowing for harvesting operations to get underway.. . .  Full story

S&P 500 companies return $1 trillion to shareholders in tax-cut surge

25/05 S&P 500 companies have returned a record $1 trillion to shareholders over the past year, helped by a recent surge in dividends and stock buybacks following sweeping corporate tax cuts introduced by Republicans, a report. . .  Full story

Brazil truckers maintain blockades, cripple key economic sectors

25/05 A truckers protest over diesel prices that has crippled key sectors of Latin America's biggest economy dragged into Friday night, putting drivers in a standoff with Brazilian President Michel Temer who authorized military force to. . .  Full story

Reinet final results March 2018

23/05 Total income for the year shot up to EUR262 million (EUR166 million). Loss attributable to shareholders came to EUR843 million (profit of EUR813 million). Furthermore, headline earnings per share grew to. . .  Full story

Most Read This Month

Steinhoff flags H1 loss as restructuring wipes out sales gain

18/05 South African retailer Steinhoff, which has been embroiled in an accounting scandal, expects to report a first-half net loss as costs related to restructuring, losses on asset sales and litigation offset a rise in revenues.. . .  Full story

Founder and chairman of S. Africa's PSG Group diagnosed with early dementia

02/05 South African tycoon and chairman of PSG Group Jannie Mouton has been diagnosed with early onset dementia, he said adding that he was still fit to be serve on the board of the investment. . .  Full story

South Africa's Murray & Roberts agrees deal for Aveng

18/05 South African-based Murray & Roberts has agreed in principle to take over construction firm Aveng Limited in a one billion rand deal ($78.5 million).. . .  Full story

South African magnate Wiese relinquishes roles at investment firm Brait

09/05 South African tycoon Christo Wiese has stepped down from two roles at Brait SE where he is a major shareholder, citing time constraints, the investment firm said on Wednesday.. . .  Full story

South Africa investigates $80 million bitcoin scam

25/05 South African authorities are investigating an alleged cryptocurrency scam that defrauded investors of 1 billion rand ($80 million) with promises of huge returns that never materialised, police said on Friday.. . .  Full story

South Africa serves suspended revenue service head with disciplinary charges

04/05 South Africa has served the suspended head of its revenue service Tom Moyane with disciplinary charges related to alleged misconduct during his tenure, the president's office said on Friday.. . .  Full story

South Africa agrees modest wage deal with state workers

21/05 South Africa's public sector workers will see their pay rise by slightly more than inflation after the government -- which is struggling to curb a large budget deficit -- clinched a. . .  Full story

South Africa's Murray & Roberts agrees to buy Aveng

18/05 South African-based Murray & Roberts has agreed to buy construction firm Aveng Limited, although its biggest shareholder ATON said it will not support the one billion rand ($78.5 million) takeover.. . .  Full story

South African farmers take AB InBev to competition watchdog

07/05 Farmers in South Africa have filed a complaint with the country's competition watchdog about Anheuser-Busch InBev's decision to change its pricing formula for buying malt barley, a key ingredient in beer making.. . .  Full story

South Africa's finmin Nene says outlook for tax revenues unchanged

22/05 South Africa Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit.. . .  Full story

Steinhoff could face more impairments, shares dive

10/05 South African retailer Steinhoff said on Thursday that an investigation by auditors PwC had found that overstatement of its profits may result in additional material impairments, sending its shares down more than 16 percent.. . .  Full story

South African airline SAA requires $400 mln bailout to stay afloat: treasury official

08/05 South Africa's state carrier SAA requires a 5 billion rand ($399 million) cash injection in the current financial year to help it meet its financial obligations, a senior treasury official. . .  Full story

South African rand falls to new 5-month low vs dollar

21/05 South Africa's rand tumbled to a new five-month low against the dollar early on Monday as the greenback rose amid hopes for an easing of trade tensions between the United States. . .  Full story

South Africa's Transnet chairwoman resigns

04/05 The chairwoman of South Africa's state-owned logistics utility Transnet has resigned along with two other board members, the public enterprises ministry said on Thursday.. . .  Full story

South African pharmacy group Dis-Chem to add more stores, enter Botswana

04/05 South African drugstore chain Dis-Chem Pharmacies plans to add more retail outlets, 10 of which will be convenience stores, as it looks to increase its market share after reporting a 13.7 percent increase in full-year. . .  Full story

Crisis-hit Steinhoff repays $2.3 billion African debt

23/05 Scandal-hit South African retailer Steinhoff has repaid about 2 billion euros ($2.34 billion) of its debt in Africa after its local unit used the proceeds of a fundraising to pay back. . .  Full story

Dis-Chem final results February 2018

04/05 Revenue for the year increased by 13.3% to R20.3 billion (2017: R17.9 billion), gross profit rose 13.3% to R4.8 billion (2017: R4.2 billion), operating profit decreased by 0.1% to R1.125 billion. . .  Full story

South Africa sells $2 bln of bonds in over-subscribed deal

16/05 South Africa sold $2 billion of bonds maturing in 2030 and 2048 on international capital markets in a deal to finance the government's foreign-currency commitments, the finance ministry said on Wednesday.. . .  Full story

Long4Life final results February 2018

09/05 The group changed year end and this represents the maiden final results for February 2018, therefore there are no comparatives.The group's revenue for the period ended 28 February 2018, generated from. . .  Full story

Over $40 million of fuel stolen from Shell refinery, Singapore court docs show

22/05 Singapore authorities have levied new charges against a group of fuel thieves operating at Royal Dutch Shell's oil refinery in the city-state, raising the value of the stolen fuel to over $40 million from. . .  Full story

South Africa authorities halt flights of state-run SA Express over safety

24/05 South Africa's Civil Aviation Authority (SACAA) said on Thursday it had suspended all flights of state-run airline SA Express over safety concerns.. . .  Full story

South African rand steadies ahead of rates decision, stocks tumble

23/05 South Africa's rand steadied against the dollar in late afternoon trade on Wednesday, recovering from losses earlier in the session, as a rise in consumer price inflation (CPI) reduced prospects for further interest rates cuts.. . .  Full story

South Africa's Vodacom cuts dividend payout after earnings miss

14/05 South African mobile phone operator Vodacom Group disappointed investors with lower than expected full-year earnings and a cut in its dividend payout on Monday.. . .  Full story

Ethiopian Airlines to step up expansion with more deals and jets

07/05 Even by its own standards, Ethiopian Airlines' recent growth has been fast -- so fast that it revised the ambitious 15-year strategy set in 2010 and plans to buy more planes to step up. . .  Full story

Steinhoff subsidiary scraps preference share dividend

30/04 A Steinhoff International subsidiary said on Monday it would not issue a dividend on its preference shares due to the crisis at the South African multinational retailer which was prompted by the discovery of accounting. . .  Full story

South Africa's Eskom evacuates Kusile contractors after protest

18/05 South African power utility Eskom said on Friday it had evacuated all contractors at its Kusile power station following a violent pay-related protest.. . .  Full story

South Africa appoints interim board at troubled state firm Transnet

15/05 South African Public Enterprises Minister Pravin Gordhan has removed three board members at troubled state-owned logistics firm Transnet and appointed an interim board, the Public Enterprises Ministry said on Monday.. . .  Full story

Barclays Africa dumps KPMG in latest blow to auditor in South Africa

03/05 KPMG's scandal-hit South African arm lost another major client on Thursday when Barclays Africa Group dropped it as joint auditor, raising questions about the firm's future.. . .  Full story

South African rand lifted by Fed signals; stocks slip

03/05 South Africa's rand strengthened on Thursday as the U.S. Federal Reserve avoided a hawkish tone at its latest monetary policy meeting, while stocks slipped.. . .  Full story