Edition:
United States

Promit Mukherjee

UPDATE 2-S.Africa's Naspers banks on ecommerce boom post pandemic for growth

Nov 23 2020

* Prosus revenue increased 53% to $2.17 bln (Adds details from media call)

'Painful' downgrades will raise South Africa's borrowing costs, minister says

Nov 21 2020

JOHANNESBURG South Africa's finance ministry said on Saturday credit ratings downgrades by Moody's and Fitch would increase the country's borrowing costs and constrain its fiscal options.

Senior S.Africa ANC leader Magashule granted bail in graft case

Nov 13 2020

JOHANNESBURG A top official in South Africa's governing African National Congress was granted bail on Friday, in a graft case that has highlighted divisions within a party whose dominance has been unchallenged since the 1994 end of white-minority rule.

UPDATE 2-S.Africa's Clicks Group aims to sell COVID-19 vaccine once country gets access

Oct 22 2020

* To bring back TRESemmé products on new terms (Adds CEO comments)

South Africa ends foreign travel ban, but airports deserted amid selective curbs

Oct 01 2020

JOHANNESBURG, Oct 1 Traffic through South Africa's main airport was minimal on Thursday despite international flights resuming after a six-month ban, with last-minute government curbs leaving many would-be tourists unable to enter the country.

South Africa set for wave of equity fundraising as banks shun risk

Sep 23 2020

JOHANNESBURG, Sept 23 South Africa is set see a wave of equity fundraising as banks' capacity to lend is under strain from rising bad debts just as corporations are in need of funds to cope with fallout from the coronavirus pandemic.

UPDATE 1-S.Africa shares succumb to profit-taking, rand edges off 6-mth best

Sep 18 2020

JOHANNESBURG, Sept 18 South Africa's stock market corrected sharply during the week after a strong open on Monday as poor retail sales data and a host of bleak company outlooks added to the effects of weaker commodity prices and quarter-end profit taking.

ArcelorMittal South Africa declares force majeure after blast furnace breakdown

Aug 26 2020

JOHANNESBURG Steel producer ArcelorMittal South Africa has declared force majeure after a breakdown of a blast furnace at its Newcastle Works in KwaZulu-Natal province, it said on Wednesday.

South African smokers empty shops of cigarettes after ban lifted

Aug 18 2020

JOHANNESBURG In the latest wave of panic-buying triggered by the COVID-19 pandemic, South African smokers on Tuesday snapped up all the cigarettes they could lay their hands on after the lifting of a five-month ban designed to curb the spread of the coronavirus.

Record bullion prices give South African gold miners a lifeline, risks remain

Aug 07 2020

JOHANNESBURG South African gold miners are looking to cut debt and boost dividends as bullion hits record highs, with analysts and fund managers predicting a sectoral growth spurt over the next two years amid rising investor interest.

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