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Mon,19Nov2018

Brexit

South Africa's Famous Brands buys British burger chain at lower price after Brexit

Photo©Chris Ratcliffe/AP/SIPASouth African fast food group Famous Brands bought Britain's Gourmet Burger Kitchen (GBK) for 2.1 billion rand ($143.3 million), saving nearly a fifth on the price due to the weaker pound in the wake of Brexit, the firm said on Thursday.

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Weak pound to hurt South Africa's Steinhoff UK business

Photo©John Stillwell/AP/SIPASouth Africa's Steinhoff warned on Wednesday the slump in the pound after Britain's vote to leave the European Union would hurt its UK business as the furniture conglomerate fell a touch short of estimates with a one-third rise in annual sales.

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Africa after the real Brexit

Photo©Svancara Petr/AP/SIPAAs Britain chose to leave the European Union, sending shock waves through the global markets, experts remain uncertain on how this would impact African economies. Trade and investment would certainly be affected as most of the trade arrangements the UK has with African countries were negotiated through the EU.

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Restoring the economy's ability to deliver prosperity

Mukhisa Kituyi, Mukhisa Kituyi, UNCTAD Secretary General. Photo©Salvatore Di Nolfi/AP/SIPAIn the developing world, significant headwinds now cloud growth prospects, threatening to undo hard fought development gains. The Sustainable Development Goals (SDGs) must become the yardstick for judging inclusive growth.

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South Africa most vulnerable in sub-Saharan Africa to Brexit risks -Moody's

Photo©Yorgos Karahali/AP/SIPASouth Africa is the most exposed sub-Saharan African state to market volatility and a potential shift in investors' risk perceptions linked to Britain's decision to leave the European Union, ratings agency Moody's said on Friday.

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Brexit to hit South Africa's slowing growth

South Africa's Finance Minister Pravin Gordhan. Photo©Schalk Van ZuydamThe governor of the South African Reserve Bank said on Tuesday that although the decision by Britain to exit the European Union would not cause a recession, already slowing economic growth would be hit.

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Old Mutual says could dual-list wealth, emerging markets units

Photo©ReutersOld Mutual said on Wednesday its preferred option after splitting into four would be to have two of the new companies listed on both the London and Johannesburg stock exchanges.

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Zimbabwe: A cautious celebration of Brexit  

Photo©Yorgos Karahalis/AP/SIPAZimbabwe is cautiously celebrating Britain's imminent exit from the European Union (EU) and is hoping it can get a better bloc from the 27-nation bloc, as it has long felt Whitehall was responsible for its crises.

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Investment: Brexit triggers gold rush

Photo©ReutersGold soared as much as 8 percent to its highest in more than two years on Friday after Britain delivered a shock vote to leave the European Union, leaving investors to scurry for protection in the precious metal and other assets perceived as less risky.

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Finance: IMF cuts global growth outlook again, warns of Brexit risks

The International Monetary Fund warned on Tuesday of the risk of political isolationism, notably Britain's possible exit from the European Union, and growing economic inequality as it cut its global growth forecast for the fourth time in a year.

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