Business

Thu,17Aug2017

Business

South Africa can avert further downgrades: central bank governor

Lesetja Kganyago speaks to the media in Washington, 2011. Photo: Jacquelyn Martin/AP/SIPASouth Africa is capable of quickly addressing concerns raised by credit ratings agencies to avoid further downgrades, central bank governor Lesetja Kganyago said on Thursday.

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South Africa's MTN records higher Q1 revenue on strong data

 An MTN advertisement is seen on a giant electronic board over a slum in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPAMTN Group reported a 7.1% rise in first-quarter group revenue helped by a strong performance in data services, Africa's biggest mobile phone operator said on Wednesday.

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Egyptian non-oil business activity shrinks for 19th month in April: PMI

 Egyptian workers load a truck with sacks of flour at a flour mill in Cairo, Egypt, Aug. 17, 2010. Photo: Nasser Nasser/AP/SIPAEgyptian private-sector activity shrank at the slowest pace in nine months in April as output and new orders continued to decline, a survey showed on Wednesday.

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Norilsk Nickel files lawsuit against Botswana over Nkomati stake sale

German Chancellor Angela Merkel, right, welcomes the President of Botswana, Seretse Khama Ian Khama, left, in Berlin, Germany, March 7, 2017. Photo: Michael Sohn/AP/SIPARussia's Norilsk Nickel said on Friday it had filed a lawsuit against the government of Botswana to try to recoup $271 million plus damages it says it is owed from the aborted sale of a 50% stake in the Nkomati mine in South Africa.

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Old Mutual Wealth's client inflows rise as parent works on break-up

Old Mutual Wealth forecast that markets will remain volatile until the outcome of Britain's June general election. In this  photo, Britain's Prime Minister Theresa May departs 10 Downing Street in London for Prime Minister's Questions, April 19, 2017. Photo: Frank Augstein/AP/SIPAFinancial services group Old Mutual Plc's UK asset management business reported its higher ever quarter for client inflows and funds under management for the first three months of the year, citing increased demand for its services and platform.

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Egypt imposes tariff on exports of fish- Trade Ministry

In this March 26, 2017 photo, Hajj Mousa repairs his fishing net on his boat on the Mediterranean Sea coast, in Alexandria, Egypt. Photo: Amr Nabil/AP/SIPAEgypt's Trade Ministry on Thursday imposed a tariff on the exports of fresh and frozen fish of 12,000 Egyptian pounds per tonne for four months.

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Nigeria's Buhari seeks approval to borrow $6.93 bln from China, World Bank

Passengers traveling to Kano peer through a window of the inaugural train in Lagos, Nigeria Friday, Dec. 21, 2012. Photo: Sunday Alamba/AP/SIPANigerian President Muhammadu Buhari is seeking parliament's approval for a proposal to borrow $5.85 billion from China to modernise its rail network and another $1.075 billion from the World Bank to help rebuild the insurgency-torn northeast.

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