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S.Africa's Pick n Pay H1 profit jumps 19 pct as price cuts lure buyers

16/10 South African supermarket chain Pick n Pay Stores on Tuesday said half-year profit before tax jumped 19.1 percent as price cuts attracted more shoppers to its stores.  Full story

South Africa's Treasury says recession, falling revenue hurt public finances

16/10 Falling revenues and a recession mean South Africa will struggle to finance the public services that form the largest part of its budget, the National Treasury said on Tuesday.  Full story

Botswana's bourse threatens to delist Choppies over results delay

16/10 Botswana's stock exchange said on Tuesday it could terminate Choppies Enterprises' listing over the failure by the budget retailer to publish financial results on time.  Full story

Most Read This Week

Steinhoff's shares plunge after global rout, report on retailer's ex-CEO

11/10 Steinhoff's shares fell more than 9 percent on Thursday to a near two-month low after a global market rout and a report by Bloomberg saying the retailer's former CEO advised friends to sell the firm's stock days before the shares collapsed.  Full story

South African rand rallies as Moody's seen holding fire, stocks rebound

12/10 South Africa's rand continued to rally on Friday, lifted by a deep Wall Street selloff and near unanimous bets that Moody's will keep the country's credit rating at investment grade.  Full story

South Africa's Nedbank to buy back shares from minority shareholders

15/10 South Africa's Nedbank Group Ltd said on Monday it will buy back its stock from shareholders who hold less than 100 Nedbank shares as a result of a spin-off by its biggest shareholder Old Mutual.  Full story

 

SA Business

Botswana's bourse threatens to delist Choppies over results delay

16/10 Botswana's stock exchange said on Tuesday it could terminate Choppies Enterprises' listing over the failure by the budget retailer to publish financial results on time.. . .  Full story

New South African finance minister to keep policy direction intact - Moody's

16/10 Ratings agency Moody's said on Tuesday that it expected new South African Finance Minister Tito Mboweni to keep the government's broad policies intact in the medium-term budget speech due next week.. . .  Full story

PL Group interim results June 2018

16/10 Revenue was higher at R72.3 million (R28.8 million), operating loss came to R5.2 million (R3.2 million) and loss for the six months was recorded at R6.1 million (R2.2 million). Furthermore, headline. . .  Full story
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SA Company

South Africa's rand firms as investors chase riskier assets, stocks up

16/10 South Africa's rand firmed against a softer dollar on Tuesday, its strongest since the start of the month, in line with other emerging-market currencies which have slowly restored gains after recent sharp losses.. . .  Full story

Cargo Carriers Sees HY HEPS To Be Between 84.42 Cents & 94.47 Cents

16/10 Cargo Carriers Ltd:. . .  Full story

Fortress REIT Says Public Investment Corp Now Holds 10.442 Pct Of Co's A Ordinary Shares

16/10 Fortress Reit Ltd:. . .  Full story
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Live News Wire

U.S. oil service firms face tough quarter despite high crude prices

06h01 Even as crude prices hover near four-year highs, U.S. oilfield service firms' third-quarter results due out in coming days will reflect a shaky recovery, as their customers face drilling constraints and pressure to hold down spending.  Full story

SoftBank 'anxiously' monitoring Saudi Arabia situation -executive

05h46 SoftBank Group Chief Operating Officer Marcelo Claure said on Tuesday it is "business at usual" at companies backed by its nearly $100 billion Vision Fund despite a tense situation with Saudi Arabia, which provided nearly half of the fund's capital.  Full story

Uber considers minority-stake investors for self-driving car unit - FT

05h38 /p>  Full story
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Europe

Oil prices edge up on surprise drawdown in U.S. crude stockpiles

05h14 Oil prices extended gains into a fourth session on Wednesday, buoyed as industry data showed a surprise decline in U.S. crude inventories and as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked. . .  Full story

Shanghai copper slips for 2nd day on lukewarm trade

05h07 Shanghai copper extended losses into a second session on Wednesday, curbed by tepid spot trading amid increasing stockpiles at the futures exchange.. . .  Full story

COLUMN-Copper smelter hits cause physical squeeze in Asia: Andy Home

03h00 The copper market is currently experiencing a squeeze on physical metal.. . .  Full story
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US

FT, CITING SOURCES

05h35 . . .  Full story

Soybeans ease as dry weather seen boosting U.S. harvest

05h23 Chicago soybean futures slid for a second session on Wednesday as a bumper U.S. crop harvest is expected to gather pace after forecasts of dry weather in parts of the U.S. Midwest.. . .  Full story

COLUMN-Saudi Arabia's oil weapon doesn't work: Kemp

03h00 Saudi Arabia is unlikely to employ its so-called "oil weapon" in the diplomatic crisis over the disappearance of a journalist after visiting the country‚Äôs consulate in Istanbul.. . .  Full story
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Asia

Nikkei hits 6-day high as tech shares track U.S. gains

04h37 Japan's Nikkei share average hit a six-day high on Wednesday, continuing its recovery from last week's sharp downturn with technology stocks supported by a turnaround in their Wall Street peers.. . .  Full story

Singapore Sept exports up 8.3 pct y/y

02h36 Singapore's on-year non-oil domestic exports (NODX) growth accelerated in September thanks to a surge in pharmaceutical shipments, official data showed on Wednesday.. . .  Full story

POLL-China to step up banks' reserve requirement cuts in 2019 as growth risks build

01h00 China's central bank is increasingly expected to cut the amount of funds banks need to hold as reserves next year as the government looks to funnel cash into an economy hit by slowing domestic. . .  Full story
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Forex

Australia, NZ dlrs find some support as stocks rally

04h35 The Australian and New Zealand dollars held their ground on Wednesday as a rebound in global equities pointed to some improvement in risk appetite after a rough couple of weeks.. . .  Full story

Asia shares ride Wall St bounce, China muted

04h32 Asian equities got some welcome relief on Wednesday after upbeat U.S. earnings reports drove a rebound on Wall Street and helped restore a little faith in emerging market stocks and currencies.. . .  Full story

S.Korea stocks jump tracking Wall Street; won climbs

04h06 Round-up of South Korean financial markets: ** South Korea's KOSPI stock index added more than 1 percent on Wednesday, tracking overnight gains in Wall Street which surged. . .  Full story
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Africa

Zambian power firm CEC divests from telecoms business

16/10 Copperbelt Energy Corp (CEC) has sold its 50 percent stake in CEC Liquid Telecom to pan-African telecoms group Liquid Telecommunication Holdings Ltd., the power firm said on Tuesday.. . .  Full story

Death toll reaches 60 in Nigerian oil pipeline fire

15/10 Sixty people were killed after a fire broke out on Friday on an oil pipeline in the southeast of Nigeria, a spokesman for the National Emergency Management Agency (NEMA) said on Monday, up from. . .  Full story

Tunisia will not impose new taxes in 2019 - draft budget

15/10 Tunisia will not impose new taxes on citizens next year and will cut the tax burden for some sectors to boost growth, according to a draft budget, after years of tax. . .  Full story
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