Business

Fri,20Oct2017

Business

Zimbabwe to cut budget deficit by half in 2018: Treasury

Zimbabwean President Robert Mugabe shares a light moment during his meeting with South African President Jacob Zuma in Pretoria, South Africa, Oct. 3, 2017. Photo: Themba Hadebe/AP/SIPAZimbabwe expects to cut its budget deficit by half next year to 4 percent of gross domestic product, while economic growth will slow down to 3 percent, according to a treasury document seen by Reuters on Tuesday.

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South Africa's cabinet changes rattle bonds, rand extends losses

ANC President Jacob Zuma gestures during a news conference on the eve of a parliamentary vote, in Johannesburg, South Africa, April 21, 2009. Photo: DENIS FARRELL/AP/SIPASouth African government bonds weakened and the rand extended losses against the dollar on Tuesday after President Jacob Zuma reshuffled his cabinet and the weekly bond auction failed to attract strong demand.

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African rulers' weapon against web-based dissent: the off switch

Management student Ndeye Mane Toure, uses an internet meeting site at a cyber cafe in Dakar, Senegal,  2006. Photo: REBECCA BLACKWELL/AP/SIPALong-standing African rulers fearful of popular protest and the use of social media to spread information are using various methods to shut down the internet to overcome their tech-savvy opponents, in a growing threat to democracy and economic activity in some of the world's poorest countries.

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Madagascar plague appears to have spread to Seychelles: WHO

 In this Oct 3, 2017 file photo, children wear face masks at a school in Antananarivo, Madagascar. Photo: Alexander Joe/AP/SIPAA probable case of plague in the Seychelles, imported from Madagascar, is believed to have sparked the Indian Ocean country's first outbreak of the disease, the World Health Organization (WHO) said.

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Gabon proposes 2018 budget increase despite ongoing oil slump

President Ali Bongo Ondimba of Gabon addresses the UN General Assembly, at U.N. headquarters, Sept. 21, 2017. Photo: Richard Drew/AP/SIPAGabon's government has proposed an 8 percent budget increase for 2018, although parliament could insist on a reduction as low crude prices continue to batter its oil-dependent economy.

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Brandy chases whisky in South African spirit wars

 In this Nov, 18, 2011 photo, a waiter serves cocktails to guestsat the trendy Randlords in Braamfontein, Johannesburg. Photo: Denis Farrell/AP/SIPA"Klippies and coke". These are the orders ringing out in bars across South Africa as thrifty consumers switch from imported, big-brand whisky to various types of locally produced brandy to quench their thirst.

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South Africa to woo investors at IMF meetings

Malusi Gigaba at a news conference in Pretoria, South Africa, March 31, 2017. Photo: AP/SIPASouth Africa's Finance Minister Malusi Gigaba and central bank governor Lesetja Kganyago head to Washington this weekend to meet ratings agencies and international investors in a bid to boost growth in an economy that is emerging from recession.

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