NewsSouthern Africa

Fri,24Nov2017

Southern Africa

South Africa slips into recession, heaping pressure on Zuma

Woman asking for money on a street in Johannesburg, South Africa. Photo: Themba Hadebe/AP/SIPASouth Africa has entered recession for the first time in eight years, data showed on Tuesday, piling pressure on a government facing corruption allegations and credit downgrades.

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South Africa's Impala Platinum offers $500 mln in convertible bonds

 Miners at the Lonmin Platinum mine, South Africa, Sept. 20, 2012. Photo: Denis Farrell/AP/SIPASouth Africa's Impala Platinum (Implats) plans to sell about $500 million of unsecured bonds that will be convertible into shares with the proceeds being used to refinance existing debt, the company said on Friday.

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Middle East rules hurts South Africa's Mediclinic earnings

24052017SouthAfricaSouth Africa's biggest private hospital group by market value, Mediclinic International, reported a 19% drop in underlying annual earnings on Wednesday, hurt by regulations in the Middle East that have now been changed.

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IMF offers three-pillared prescription for African growth

22052017SenegalCountries in sub-Saharan Africa need to get their budgets in order, diversify their economies and look after their poorest people.

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South Africa open to Iranian investment if new refinery goes ahead

An oil refinery is seen with Table Mountain in the background, Cape Town, South Africa, Feb 8, 2012. Photo: Schalk van Zuydam/AP/SIPASouth Africa, a net importer of refined oil products, is looking to West Africa and the Middle East, including Iran, for potential partners on a new refinery project, energy ministry officials said on Friday.

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GM will cut operations in India, South Africa

Employees of General Motors India work at a manufacturing plant of the company at Halol, India, April, 2010.Photo: Ajit Solanki/AP/SIPAGeneral Motors Co plans to quit selling vehicles in India by the end of this year and will sell operations in South Africa, the latest steps in a strategy of focusing cash and engineering effort on fewer, more profitable markets.

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