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Subdued sentiment in global markets pinches JSE

Goldfields, Long4Life trading statements reveal gains. In a discussion around the market's movements on Thursday, Nompu Siziba highlights that the Alsi closed down half a percent, while the rand was losing some ground somewhat. She discusses these topics, as well as how a ten-day closure of the Japanese market will affect global markets with David Shapiro, the deputy chairman at Sasfin Wealth.

Kumba production falls 6%; shares take a knock

‘Our key cause of concern is the sustainability of current iron-ore prices' - Wilhelm Hertzog. NOMPU SIZIBA: Kumba Iron Ore came out with its production and sales update for the first quarter - that is, from January to March 2019. It revealed that its iron-ore production declined by 6% in the quarter, compared to the October to December quarter last year.

Glencore faces new corruption probe by US authority

Glencore said it's under investigation by the US Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world's biggest commodity trader. The probe comes after the London-listed company was subpoenaed last year by the US Justice department for documents relating to its dealings in Nigeria, the Democratic Republic of Congo and Venezuela since 2007. Glencore said Thursday that the Commodity Futures Trading Commission (CFTC) had notified it of investigations into whether the company and its subsidiaries "may have violated certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities." The company said it believes the CFTC's investigations "have a similar scope in terms of subject matter" to the justice department probe, which became public last July.

Amazon stock jumps on earnings beat, but its ad business lagged

Amazon's ad business seems to have stumbled this past quarter. Amazon just keeps on being Amazon. Over the last few years, the company has been on a roll in terms of scale-and this past quarter it certainly grew.

Gabon restricts wood exports [Business Africa]

The Gabonese government has imposed a definite ban on three highly priced wood species. The announcement comes a decade after the ban on logs in this Central African nation. The news has been welcomed by small operators.

Glencore Faces New Corruption Investigation as CFTC Starts Probe

( ) -- Glencore (LON:GLEN) Plc said it's under investigation by the U.S. Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world's biggest commodity trader. The probe comes after the London-listed company was subpoenaed last year by the U.S. Justice department for documents relating to its dealings in Nigeria, the Democratic Republic of Congo and Venezuela since 2007. Glencore said Thursday that the CFTC had notified it of investigations into whether the company and its subsidiaries "may have violated certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities." The company said it believes the CFTC's investigations "have a similar scope in terms of subject matter" to the DOJ probe, which became public last July. The commodity trading industry is facing a multitude of bribery and corruption investigations in jurisdictions ranging from Brazil to the U.S., drawing comparisons with the early 1980s when Glencore's founder Marc Rich was prosecuted for tax evasion. The director of enforcement at the CFTC said last month in a speech that the agency was investigating overseas fraud and manipulation under the Commodities Exchange Act. "Companies and individuals engaging in foreign corrupt practices should recognize that this sort of misconduct might constitute fraud, manipulation, false reporting, or a number of other types of violations under the CEA, and thus be subject to enforcement actions brought by the CFTC," James McDonald said in New Orleans. Glencore's shares have declined about 8 percent since the DOJ started is investigation last year, even as most miners gained.

Economics Unbound: Potential of township property markets

In 2006, the Centre for Affordable Housing Finance in Africa published a study into housing entrepreneurs in South Africa. The central question of the research was: If the housing asset is not performing as a financial asset for low-income earners, might there be a different way homeowners can make money from their housing? Their findings were very significant and serve as pointers towards a policy of the future. CAHF says that their research focused on small-scale landlords and home-based enterprises in the inner cities and townships of Gauteng.

UPDATE 1-Bunge names acting CEO Gregory Heckman as new chief executive

(Adds background, details, company board quote) By Karl Plume April 25 (Reuters) - Global grains trader Bunge Ltd on Thursday named Gregory Heckman as its chief executive officer, three months after he took the helm in an interim capacity. Heckman, a founding partner of private investment firm Flatwater Partners and the former chief executive of grains trader Gavilon Group, was appointed acting CEO in January after long-serving CEO Soren Schroder was removed. The leadership change comes after a turbulent period for the two-century-old company as profits in its core grain trading, handling and processing business thinned due to a global grain supply glut and a bruising U.S.-China trade war that redrew global commodity flows.

Barloworld's new BEE scheme has a fighting chance

It's underpinned by properties as assets and not share price movements. Black economic empowerment (BEE) schemes that are underpinned by volatile share price movements, which is how JSE-listed companies usually structure their schemes, cannot guarantee consistent returns for investors. This is according to Tshepisho Makofane, MD of advisory firm Tamela Capital Partners, which has advised some of the largest BEE deals in SA - including MTN's R9 billion Zakhele scheme, which was lauded for creating value for about 124 000 black investors in 2017. "Equity [or shares] by its nature cannot guarantee returns, even on BEE schemes," Makofane tells Moneyweb. Some JSE-listed companies in recent years have failed to deliver attractive returns to black investors because the success of their BEE schemes, which are financed by large debt, depended on a rise in share prices and volatile commodities. Welkom Yizani, the BEE scheme of technology company Naspers that invested in its media business Media24, didn't deliver on its promises.

Business Maverick: Impact investing could bridge the socialist/capitalist divide

A conference this week examined one of the trickiest issues of our day: why is it proving so difficult to mobilise retirement funds to aid social upliftment? Meanwhile, inequality is rising and threatening to become a political time bomb, environmental crises are increasing, tax revolts are looming, and levels of violent social unrest could become unmanageable. Is there a solution? Cue impact investing. --.

GLOBAL MARKETS-Asia shares subdued, dollar pins hopes on US GDP

* Asian stock markets : tmsnrt.rs/2zpUAr4 * Nikkei slips as pre-holiday short-covering lifts yen * Dollar firm elsewhere on talk of upbeat Q1 GDP * More central banks turn dovish amid slow inflation By Wayne Cole SYDNEY, April 26 (Reuters) - Asian shares got off to a subdued start on Friday, while the dollar held near two-year highs against the euro on speculation that data later in the day will show the U.S. economy outperforming the rest of the developed world. The euro was off 1 percent for the week at $1.1133 as euro zone economic figures continued to disappoint.

Anglo reports a mixed first quarter

The diversified miner's coal operations weighed on production as Minas-Rio in Brazil got back on its feet. Anglo American has reported a dip in first-quarter production as higher copper output was offset by lower production of diamonds, platinum, coal and iron ore from Kumba. On the upside, it said production at Minas-Rio had ramped up after it was suspended last year due to pipeline leaks.

Barloworld's new BEE scheme has a fighting chance

It's underpinned by properties as assets and not share price movements. Black economic empowerment (BEE) schemes that are underpinned by volatile share price movements, which is how JSE-listed companies usually structure their schemes, cannot guarantee consistent returns for investors. This is according to Tshepisho Makofane, MD of advisory firm Tamela Capital Partners, which has advised some of the largest BEE deals in SA - including MTN's R9 billion Zakhele scheme, which was lauded for creating value for about 124 000 black investors in 2017. "Equity [or shares] by its nature cannot guarantee returns, even on BEE schemes," Makofane tells Moneyweb. Some JSE-listed companies in recent years have failed to deliver attractive returns to black investors because the success of their BEE schemes, which are financed by large debt, depended on a rise in share prices and volatile commodities. Welkom Yizani, the BEE scheme of technology company Naspers that invested in its media business Media24, didn't deliver on its promises.

PRESS DIGEST- Financial Times - April 26

April 26 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy. Headlines London and Dublin seek to restart talks on Northern Ireland government on.ft.com/2XEy6f2 Crossrail blames software 'bugs' for possible two-year delay on.ft.com/2DB6UX0 Glencore Plc under investigation by U.S.

Business Maverick: Glencore Faces New Corruption Investigation With CFTC Probe

The probe comes after the London-listed company was subpoenaed last year by the U.S. Justice department for documents relating to its dealings in Nigeria, the Democratic Republic of Congo and Venezuela since 2007. Glencore said Thursday that the CFTC had notified it of investigations into whether the company and its subsidiaries "may have violated certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities." The company said it believes the CFTC's investigations "have a similar scope in terms of subject matter" to the DOJ probe, which became public last July.

GLOBAL MARKETS-Asia shares subdued, dollar pins hopes on US GDP

* Asian stock markets : https://tmsnrt.rs/2zpUAr4 * Nikkei slips as pre-holiday short-covering lifts yen * Dollar firm elsewhere on talk of upbeat Q1 GDP * More central banks turn dovish amid slow inflation By Wayne Cole SYDNEY, April 26 (Reuters) - Asian shares got off to a subdued start on Friday, while the dollar held near two-year highs against the euro on speculation that data later in the day will show the U.S. economy outperforming the rest of the developed world. The euro was off 1 percent for the week at $1.1133 EUR= as euro zone economic figures continued to disappoint. Against a basket of currencies, the dollar was 0.8 percent firmer for the week so far at 98.128 .DXY having touched its highest since May 2017. The yen proved an outlier by gaining as speculators cut short positions ahead of holidays which will see most Japanese markets shut for six whole trading days. exceptionally long break has investors concerned there could be another "flash crash" like the one in early January that drove the yen massively higher in a matter of minutes. The dollar was down at 111.51 yen JPY= , after shedding 0.5 percent overnight, but was buoyed elsewhere by solid data on U.S.

Business Maverick: Gold worth billions smuggled out of Africa

Customs data shows that the UAE imported $15.1 billion worth of  gold  from  Africa  in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity - up from 67 tonnes in 2006. Much of the  gold  was not recorded in the exports of  Africa n states.

#wineforgood: Distell backs the arts

"I believe that creativity will be the currency of the 21st century."  - Gerald Gordon, economist and author. The creative and performing arts are often overlooked, deemed as a hobby with little support to young and upcoming individuals with a passion to make a career out of it. Distell is supporting this important category with sponsorships celebrating rising storytellers and theatre stars.

Business Maverick: Gold worth billions smuggled out of Africa

Customs data shows that the UAE imported $15.1 billion worth of  gold  from  Africa  in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity - up from 67 tonnes in 2006. Much of the  gold  was not recorded in the exports of  Africa n states.

Business Maverick: Friday April 26: Five Things You Need to Know to Start Your Day

U.S. Mulls China Drug Concessions The Trump administration may concede to a Chinese proposal that would give less protection for U.S. pharmaceutical products than they receive at home, according to people familiar with the matter, a move that could draw opposition from the American drug industry. Under the Chinese offer being discussed as part of wider trade talks, U.S.

Barloworld's new BEE scheme could have a fighting chance

Black economic empowerment (BEE) schemes that are underpinned by volatile share price movements, which is how JSE-listed companies usually structure their schemes, cannot guarantee consistent returns for investors. This is according to Tshepisho Makofane, MD of advisory firm Tamela Capital Partners, which has advised some of the largest BEE deals in SA - including MTN's R9 billion Zakhele scheme, which was lauded for creating value for about 124 000 black investors in 2017. "Equity [or shares] by its nature cannot guarantee returns, even on BEE schemes," Makofane tells Moneyweb.

Accor set to accelerate Africa development plans in new, existing markets

Accor Hotels is fast-tracking its development plans in Africa, with the leveraging of its expanded portfolio to consolidate its leadership position in North and West Africa, and achieve increased growth in sub-Saharan and East Africa. The group is on track to open 35 hotels in Africa by 2020, and has set a target of signing between 15 to 20 projects each year between now and 2025. " data-lazyauto="true"> Mantis Big Five Reserve - Biyela Lodge This strategy is bolstered by the recent Mövenpick Hotels & Resorts acquisition, a 50% stake in South Africa's Mantis Group, plus its creation of a joint $bn investment fund with Katara Hospitality, based in Qatar, dedicated to hospitality projects in select sub-Saharan African countries.

Business Maverick: Competition watchdog names and shames MTN, Vodacom for high data prices

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Flash Briefing: GEPF 'financially' sound; PP 'helping' Gordhan; AMCU on watch; Zuckerberg fortune rises

The head of the Government Employees Pension Fund says the fund is financially sound and there is no need for an increase in contributions by employers. This is after Alexander Forbes Financial Services raised concerns about a R5.6bn shortfall per year. The fund is exposed to the Public Investment Corporation currently under investigation, Information Technology group Ayo and Steinhoff International Holdings.

Are the JSE's gains sustainable?

There's reason to believe there is support for these levels on the local market. For the first three months of 2019 the FTSE/JSE All Share Index was up over 8.5%. This was a spectacular reversal from the weakness of 2018.

METALS-Copper prices edge away from one-month low as dollar dips

SINGAPORE, April 26 (Reuters) - London copper prices on Friday inched away from a one-month low touched in the previous session, buoyed as the U.S. dollar eased from a two-year high. Three-month copper on the London Metal Exchange had edged up 0.1 percent to $6,369 a tonne by 0142 GMT, after marking its lowest since March 28 on Thursday on a strong U.S.

Value investing 70 years on

Can you still invest like Benjamin Graham? Benjamin Graham's 1949 book The Intelligent Investor is still widely recognised as the definitive work on value investing. Vastly simplified, his philosophy was to find and invest in companies that were trading at prices below their book value - in other words, what their assets were worth - with the view that in time that value must be recognised and therefore the share price must appreciate. One of the most quoted lines from the book is the famous observation that: "In the short run, the market is a voting machine but in the long run, it is a weighing machine." Graham was however writing at a time when financial analysis was in its infancy. When he began investing, listed companies weren't even required to publish audited financial statements. Markets were therefore almost entirely ruled by sentiment and speculation.

Business Maverick: Glencore Faces New Corruption Investigation With CFTC Probe

The probe comes after the London-listed company was subpoenaed last year by the U.S. Justice department for documents relating to its dealings in Nigeria, the Democratic Republic of Congo and Venezuela since 2007. Glencore said Thursday that the CFTC had notified it of investigations into whether the company and its subsidiaries "may have violated certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities." The company said it believes the CFTC's investigations "have a similar scope in terms of subject matter" to the DOJ probe, which became public last July.

Bunge names acting CEO Gregory Heckman as new chief executive

(Adds analyst comments) By Karl Plume April 25 (Reuters) - Bunge Ltd on Thursday named Gregory Heckman as its new chief executive officer, three months after he stepped in as acting CEO at the embattled global grains merchant stung by slumping grain prices and a bruising U.S.-China trade war. Heckman, a founding partner of private investment firm Flatwater Partners and the former chief executive of grains trader Gavilon Group, was appointed acting CEO in January after long-serving CEO Soren Schroder was removed. The leadership change follows a turbulent period for the two-century-old company as profits in its core grain trading, handling and processing business thinned due to a global supply glut and a U.S.-China trade war that redrew global commodity flows. "After a thorough, global search process, the board clearly recognized that Greg has the unique combination of expertise, vision and leadership to successfully lead Bunge," Kathleen Hyle, Bunge's non-executive board chair, said in a statement. Heckman joined the Bunge board late last year as part of a deal to ease activist investor pressure on the company following a string of weak results that made Bunge vulnerable to takeover attempts by rival Archer Daniels Midland Co and global commodities trader Glencore Plc. The appointment of Heckman, who headed Gavilon in 2012 when it was sold to Japanese trading house Marubeni, is likely to stoke market expectations for large merger and acquisition deals involving Bunge and its rivals, including an outright sale of the company, said Morningstar analyst Seth Goldstein. Bunge has been undergoing a strategic review of its businesses and has not ruled out a sale of the company. "It leaves the option on the table, whereas Bunge management previously had been resistant to being acquired or even wanting to discuss that with potential acquirers," Goldstein said. B

Aurelia Metals in talks to buy Glencore copper mine in Australia

* Copper mine is in New South Wales * Miner Aeris this mth said unable to reach deal to buy the mine * Aeris' offer had been for $575 mln (Adds detail, background) April 26 (Reuters) - Australian miner Aurelia Metals Ltd on Friday said it was in talks about a possible acquisition of Glencore's CSA copper mine in the state of New South Wales. That comes after copper producer Aeris Resources Ltd earlier this month said it was unable to reach an agreement with Glencore on its $575 million offer to buy the mine. "(The) CSA mine could potentially be a strategic fit," Aurelia said in a statement. It added that building its portfolio of assets in the Cobar region could be attractive following its acquisition of Peak Gold Mines in the same area last year from Canada's New Gold Inc . Aurelia, with a market value of about A$600 million ($420.72 million) is significantly larger than Aeris Resources. The company's stock was down as much as 3.7 percent in early trade, against a 0.3-percent drop in the broader market. ($1 = 1.4261 Australian dollars) (Reporting by Rashmi Ashok in Bengaluru; Editing by Richard Pullin and Joseph Radford) 2019-04-26 02.

Copper prices edge away from one-month low as dollar dips

SINGAPORE, April 26 (Reuters) - London copper prices on Friday inched away from a one-month low touched in the previous session, buoyed as the U.S. dollar eased from a two-year high. Three-month copper on the London Metal Exchange had edged up 0.1 percent to $6,369 a tonne by 0142 GMT, after marking its lowest since March 28 on Thursday on a strong U.S. dollar and worries over the outlook for the global economy. The U.S. dollar dropped slightly against a basket of major currencies on Friday, though it was but still near its two-year peak.

#wineforgood: Distell backs the arts

Winemaking has often been compared to a form of art and so it is not unusual for Distell, Africa's leading producer of fine wines, spirits and ciders to recognize the importance of creativity and reward it. By joining forces, the National Arts Festival and Distell, and their various stakeholders made it their mission to celebrate rising storytellers. The Distell National Playwright Competition is an opportunity for debut playwrights to showcase their work at the main stage of the lauded National Arts Festival in Grahamstown.

GLOBAL MARKETS-Asia shares doze off, dollar perky on GDP hopes

* Asian stock markets : tmsnrt.rs/2zpUAr4 * Nikkei slips as pre-holiday short-covering lifts yen * Dollar firm elsewhere on talk of upbeat Q1 GDP * More central banks turn dovish amid sluggish inflation By Wayne Cole SYDNEY, April 26 (Reuters) - Asian shares drifted off in sleepy trade on Friday, while the dollar held around two-year highs on speculation that figures later in the day will show the U.S. economy outperforming the rest of the developed world. The euro was off 1 percent for the week at $1.1133 as euro zone economic figures continued to disappoint.

Business Maverick: Gold worth billions smuggled out of Africa

Billions of dollars worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - Reuters analysis has found. David Lewis, Ryan McNeill and Zandi Shabalala report on the extraordinary and rising problem of gold smuggling out of Africa. It used to be called artisanal .

Business Maverick: China's Xi Defends Belt and Road, Vows `Zero Tolerance' of Graft

In an address to the annual Belt and Road Forum for International Cooperation in Beijing on Friday Chinese President Xi Jinping said, "we need to maintain that all cooperation is conducted under the sun and work together to combat corruption with zero tolerance". He vowed that China will negotiate and sign high-standard free trade agreements with more countries, strengthen cooperation in customs, taxation, auditing and supervision, and establish a cooperation mechanism for jointly building the Belt and Road tax collection and management system. "We need to pursue high-standard cooperation," he said .

PICK N PAY STORES LIMITED - Retirement of Chief Finance Officer

PIK 201904260009A Retirement of Chief Finance Officer Pick n Pay Stores Limited Incorporated in the Republic of South Africa Registration number: 1968/008034/06 Share Code: PIK ISIN code: ZAE000005443 RETIREMENT OF CHIEF FINANCE OFFICER In terms of section 3.59 of the JSE Listings Requirements, shareholders are advised that Mr Aboubakar Jakoet will be retiring from his position as Chief Finance Officer of the Pick n Pay Group. Bakar has agreed to remain as Chief Finance Officer until a successor has been appointed. The board of directors is finalising the appointment of a successor and shareholders will be updated in due course. The board extends its most sincere thanks and appreciation to Bakar for his dedication, diligence and commitment to Pick n Pay throughout his 34-year career.

Slow Growth Weighs on Global Equity Markets

South Africa The local market continued its fall on Thursday due to rising investor fears around the current state of the global economy after the release of weak data dampened sentiment. At the close of trade, the All Share was 0.50% in the negative. United States The Nasdaq opened Thursday on a high note thanks to the uplifting results released by the tech giants, Facebook (NASDAQ:FB) and Microsoft (NASDAQ:MSFT).

S.Africa's Implats says Q3 platinum output up

IMPLATS:   6,383     -67 (-1.04%)   26/04/2019 00:00 JOHANNESBURG, April 26 (Reuters) - South Africa's Impala Platinum (Implats) said on Friday third-quarter platinum production rose despite Eskom power cuts and community disruptions at its Marula mine. Platinum in concentrate production was 1 percent higher at 350,000 ounces in the quarter ended March 31 compared with the same period last year, the company said. Refined platinum production during the quarter ended March 31 increased by 5 percent to 333,000 ounces. The firm said a stronger mining performance at Impala Rustenburg was offset by lower tonnage at Marula and Zimplats. Platinum production at the Marula mine, which fell by 25 percent from a year earlier to 15,000 ounces was hampered by community disruptions, which resulted in a seven-day work stoppage and Eskom power interruptions "While we could manage this at Impala Rustenburg due to the flexibility offered by our integrated mining and processing operations, our other South African operations elsewhere fared less well," said Implats? Chief Executive Officer, Nico Muller in a statement. Eskom, which supplies more than 90 percent of electricity in Africa's most advanced economy, cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations depressed supply. (Reporting by Tanisha Heiberg; Editing by Susan Fenton) 2019-04-26 09.

Glencore faces new corruption investigation as CFTC starts probe

In latest legal headache for the world's biggest commodity trader. Glencore said it's under investigation by the US Commodity Futures Trading Commission for possible corrupt practices, the latest legal headache for the world's biggest commodity trader. The probe comes after the London-listed company was subpoenaed last year by the US Justice department for documents relating to its dealings in Nigeria, the Democratic Republic of Congo and Venezuela since 2007.

South African Markets - Factors to watch on April 26

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday. ECONOMIC EVENTSSouth Africa's Treasury holds weekly auction of inflation-linked bonds and treasury bills COMPANIES Grocery retailer Pick n Pay (JO:PIKJ) posts 18 percent jump in full-year earnings. AFRICAN MARKETSSouth Africa's rand turned flat in late afternoon trade on Thursday, but hovered near a four-week low hit earlier in the session on the back of a firmer dollar, while stocks fell. On the bourse, the broader All-Share index .JALSH fell 0.5 percent to 58,807 points, and the blue chip Top-40 index .JTOPI also slipped 0.6 percent to 52,470. .J ZAR/ GLOBAL MARKETS Asian shares drifted off in sleepy trade on Friday, while the dollar held around two-year highs on speculation that figures later in the day will show the U.S.

PIC lost billions buying into Steinhoff without following procedure - Dlamini

JOHANNESBURG - The Public Investment Corporation's (PIC) acting head of legal Lindiwe Dlamini has testified that the PIC lost billions by buying Steinhoff shares after failing to follow procedure. The PIC spent R9.3 billion in the venture five months before the collapse of the international retailer, resulting in the state fund manager having to write off R4.3 billion of its investment.  Dlamini said the PIC failed to do conduct due diligence when it came to the Steinhoff deal it entered into with BEE company Lancaster 101. Dlamini said legal warned the fund manager that it was exposed.

Blac Chyna accepted into Harvard Business School

Blac Chyna is ready to take things "up a couple of notches" after being accepted into a Business Analytics online course with the Harvard Business School. The former stripper - who has son King Cairo, six, with ex-boyfriend Tyga and daughter Dream, two, with former fiance Rob Kardashian - has enrolled in an online course called Business Analytics, in which she will learn how to interpret data and make good business decisions over the course of the 40-hour eight-week programme And Chyna hopes the course will help her in her quest for personal "growth". She told TMZ: "Where I'm at now is a stage of realisation and growth! "I want to be great for myself and my kids.

S.Africa's Implats says Q3 platinum output up

JOHANNESBURG, April 26 (Reuters) - South Africa's Impala Platinum (Implats) said on Friday third-quarter platinum production rose despite Eskom power cuts and community disruptions at its Marula mine. Platinum in concentrate production was 1 percent higher at 350,000 ounces in the quarter ended March 31 compared with the same period last year, the company said. Refined platinum production during the quarter ended March 31 increased by 5 percent to 333,000 ounces.

Pick n Pay says profits rose by a fifth thanks to SA business and better prices

Supermarket chain store lifts annual dividend 22.4% as turnover in SA rises 7.4% but earnings from the rest of Africa fall 16.2% Pick n Pay Stores says net profit rose by about a fifth in the financial year to March 3, even as its operations outside SA stumbled. "The group's improved performance is anchored by strong performances from its stores serving the growing lower to middle income communities of SA, a more competitive price position and a substantively improved fresh offer," it said. Profit after tax was R1.65bn in the 53-week period, versus R1.3bn in the prior 52-weeks. On a pro-forma basis, net profit was up 19.9% as turnover grew 7.1% and margins improved. A final dividend of 192c a share brings the total annual dividend to 231.1c per share, a 22.4% increase. The group, led by former Tesco UK boss Richard Brasher since 2013, said the performance of the SA business - which trades under the Pick n Pay and Boxer brands - "mitigated some operating challenges experienced outside its borders". In its home market, turnover grew 7.4% and profit before tax was up 23.8%. But earnings from the rest of Africa fell 16.2%, "reflecting difficult economic conditions in Zambia and the once-off impact of currency devaluation in Zimbabwe". Thanks in part to promotions, Pick n Pay said selling prices were reduced by 0.3% in the year, while group-wide volume growth of 5.1% "represented its strongest underlying trading performance for many years". "Market-leading turnover growth was achieved without sacrificing earnings growth," it said. The group added 110 net new stores in the period, while 103 stores were refurbished. Value-added-services income, including from the group's partnership with TymeBank, was up 41.5%. Meanwhile, Pick n Pay said it had started building a store in Nigeria, which would open in 2019, and it planned to open two more in that market. "Over the past six years we have changed the trajectory of Pick n Pay," Brasher said.

GLENCORE PLC - GLN: Transactions In Own Shares-25 April 2019

GLN 201904260005A GLN: Transactions In Own Shares-25 April 2019 Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 26 April 2019 Transactions in own shares-25 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 25 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,000,000 Lowest price paid per share (GBp): 320.6500 Highest price paid per share (GBp): 327.4000 Volume weighted average price paid per share (GBp): 323.8181 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 774,157,649 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,812,042,417. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 323.8763 1,113,624 BATS 323.5932 58,933 Chi-X 323.7558 827,443 Transaction details In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Citigro

Implats cautions against headwinds, tempers output forecast

The miner says its profitable run continues, but warns against a number of potential difficulties in the final quarter of its financial year as it cautions investors to temper annual production outlook Impala Platinum (Implats), the world's second-largest miner of the metal, cautioned investors to temper their outlooks for full-year production because of a number of potential headwinds in coming months. Implats said in an outlook for the balance of its financial year to end-June that it was undertaking "extensive" planned maintenance of one of its furnaces, closing or selling its Number 1 shaft, starting wage talks and trying to prevent further disruptions from Eskom blackouts. All this was happening in the run-up to the national elections on May 8, which could unsettle communities around its operations in Rustenburg and in Limpopo, where its Marula mine already lost a week of production because of a community protest in the March quarter. For Implats, as with other platinum miners, its wage talks are due to start in June, mainly with the Association of Mineworkers and Construction Union (Amcu), which recently emerged from a violent and protracted strike of five months at Sibanye-Stillwater's gold mines with nothing to show for it. Amcu has been warned by the department of labour that its registration could be terminated and it had 60 days in which to motivate why it should remain a registered union. This will add a layer of uncertainty and tension to the wage talks. Platinum companies negotiate wages directly with their unions rather than collectively, as the gold industry does. All major platinum companies, which supply about 4.5-million ounces of the world's 6-million ounces of annual supply, are holding wage talks in June. Implats advised investors that its production would trend towards the lower end of its forecast range of between 1.5-million and 1.6-million ounces of platinum for the 2019 financial year because of these headwinds and potential disruptions. "Metal prices for our pri

PICK N PAY STORES LIMITED - Summarised Audited Group Annual Financial Statements for the 53 weeks ended 3 March 2019

Summarised Audited Group Annual Financial Statements for the 53 weeks ended 3 March 2019 PICK N PAY STORES LIMITED Registration number: 1968/008034/06 JSE share code: PIK ISIN: ZAE000005443 SUMMARISED AUDITED GROUP ANNUAL FINANCIAL STATEMENTS FOR THE 53 WEEKS ENDED 3 MARCH 2019 RESULT SUMMARY: PICK N PAY DELIVERS IN A TOUGH MARKET Pro forma 53 weeks to 52 weeks to 52 weeks to Pro forma 3 March 25 February % 24 February % KEY FINANCIAL INDICATORS 2019 2018* change 2019 change Turnover R88.3 billion R80.5 billion 9.6 R86.3 billion 7.1 Gross profit margin 19.0 18.9 19.0 Trading profit R2 175.6 million R1 819.9 million 19.5 R2 049.0 million 12.6 Trading profit margin 2.5 2.3 2.4 Profit before tax R2 199.8 million R1 768.1 million 24.4 R2 073.2 million 17.3 Profit before tax margin 2.5 2.2 2.4 Profit before tax - South Africa R1 945.5 million R1 480.2 million 31.4 R1 831.9 million 23.8 Profit for the period, after tax R1 649.5 million R1 296.3 million 27.2 R1 554.6 million 19.9 Basic earnings per share 347.17 cents 273.64 cents 26.9 327.20 cents 19.6 Diluted earnings per share 342.85 cents 268.33 cents 27.8 323.12 cents 20.4 Headline earnings per share 346.69 cents 276.98 cents 25.2 326.71 cents 18.0 Diluted headline earnings per share 342.37 cents 271.61 cents 26.1 322.65 cents 18.8 Total annual dividend per share 231.10 cents 188.80 cents 22.4 * The financial information presented for the prior year is on a restated basis, with the adoption of new accounting standards. Please refer to note 12 of the summarised financial statements for further information. The Group follows a 52-week retail financial calendar, which requires the inclusion of an additional week every six years.

Canada's Saputo buys Kirin's cheese business in Australia for $179 mln - Nikkei

SYDNEY, April 26 (Reuters) - Canada's Saputo Inc. has purchased the Australian cheese business of Japan's Kirin Holdings for about 20 billion yen ($179 million), the Nikkei reported on Friday, citing anonymous sources. Japanese beer and beverage maker Kirin Holdings said last September it was reviewing its Australia-based subsidiary Lion Pty Ltd's dairy and drinks business, and was considering a possible sale. The Japanese newspaper said the brewer had yet to find a buyer for the unprofitable unit, which has been facing rising juice prices, tougher competition and a weakening currency. Media representatives for Kirin and Saputo did not immediately respond to requests for comment. Kirin had previously said the company would not agree to divest the unit, which it acquired in 2007, at any price simply to achieve a sale. [https://reut.rs/2ZzJbzZ] The Japanese brewer has been restructuring and reviewing its business portfolio, which spans alcohol, beverages, food and drugs at home and overseas. Last year, it sold its money-losing Brazilian beer business - bought for $3.9 billion in 2011 - to Heineken for $1.09 billion. ($1 = 111.6700 yen) (Reporting by Paulina Duran; editing by Richard Pullin) 2019-04-26 09.

GLENCORE PLC - GLN:Announcement Re. The Commodity Futures Trading Commission

Wrap Text GLN:Announcement Re. The Commodity Futures Trading Commission Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 25 April 2019 Announcement re the Commodity Futures Trading Commission Glencore has been informed by the United States Commodity Futures Trading Commission ("CFTC") that the CFTC is investigating whether Glencore and its subsidiaries may have violated certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities. Glencore understands that the CFTC's investigations are at an early stage and have a similar scope in terms of subject matter as the current ongoing investigation by the US Department of Justice ("DOJ"). Glencore will cooperate with the CFTC. Glencore's response will be managed by its Investigations Committee, which was set up in July 2018 to oversee Glencore's response to the investigation by the DOJ. For further information please contact: Media Charles Watenphul t: +41 41 709 24 m: +41 79 904 33 charles.watenphul@glencore.com Investors 62 20 Martin Fewings t: +41 41 709 m: +41 79 737 martin.fewings@glencore.com Ash Lazenby 2880 t: +41 41 709 5642 m: +41 79 543 ash.lazenby@glencore.com 2714 3804 www.glencore.com Glencore LEI: 2138002658CPO9NBH955 This announcement contains inside information. Notes for Editors Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities.

Implats cautions against headwinds, tempers output forecast

The miner says its profitable run continues, but warns against a number of potential difficulties in the final quarter of its financial year as it cautions investors to temper annual production outlook.

Growing Kruger connectivity the newest rung in SA's route development, as 66% of Africa's underserved markets open for busin

In the business of travel and tourism - air connectivity is paramount. The inter-connectivity of the two industries to propel economic growth and development is complex, especially in Africa, with Cape Town Air Access (CTAA) being the poster child for the very concept. With its recent feather of getting  United Airlines to return to Africa (it ended its service to Nigeria in 2015) with a direct flight to our tip down in South - SA is leading the way.

PICK N PAY STORES LIMITED - Summarised Audited Group Annual Financial Statements for the 53 weeks ended 3 March 2019

PIK 201904260001A Summarised Audited Group Annual Financial Statements for the 53 weeks ended 3 March 2019 PICK N PAY STORES LIMITED Registration number: 1968/008034/06 JSE share code: PIK ISIN: ZAE000005443 SUMMARISED AUDITED GROUP ANNUAL FINANCIAL STATEMENTS FOR THE 53 WEEKS ENDED 3 MARCH 2019 RESULT SUMMARY: PICK N PAY DELIVERS IN A TOUGH MARKET Pro forma 53 weeks to 52 weeks to 52 weeks to Pro forma 3 March 25 February % 24 February % KEY FINANCIAL INDICATORS 2019 2018* change 2019 change Turnover R88.3 billion R80.5 billion 9.6 R86.3 billion 7.1 Gross profit margin 19.0 18.9 19.0 Trading profit R2 175.6 million R1 819.9 million 19.5 R2 049.0 million 12.6 Trading profit margin 2.5 2.3 2.4 Profit before tax R2 199.8 million R1 768.1 million 24.4 R2 073.2 million 17.3 Profit before tax margin 2.5 2.2 2.4 Profit before tax - South Africa R1 945.5 million R1 480.2 million 31.4 R1 831.9 million 23.8 Profit for the period, after tax R1 649.5 million R1 296.3 million 27.2 R1 554.6 million 19.9 Basic earnings per share 347.17 cents 273.64 cents 26.9 327.20 cents 19.6 Diluted earnings per share 342.85 cents 268.33 cents 27.8 323.12 cents 20.4 Headline earnings per share 346.69 cents 276.98 cents 25.2 326.71 cents 18.0 Diluted headline earnings per share 342.37 cents 271.61 cents 26.1 322.65 cents 18.8 Total annual dividend per share 231.10 cents 188.80 cents 22.4 * The financial information presented for the prior year is on a restated basis, with the adoption of new accounting standards. Please refer to note 12 of the summarised financial statements for further information. The Group follows a 52-week retail financial calendar, which requires the inclusion of an additional week every six years. The 2019 financial year is a 53-week period, and its IFRS results disclosed in the table above are not directly comparable with 2018.

Glencore probe, weak earnings reports drag FTSE 100 lower

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 down 0.5 pct; FTSE 250 down 0.2 pct * Glencore falls after U.S. CFTC probe * Brexit uncertainty hits RBS profits * Ferrexpo tanks after auditor quits * Computacenter rallies on mid-caps April 26 (Reuters) - The FTSE 100 edged lower on Friday as Glencore fell on a U.S. CFTC investigation, RBS and Just Eat tumbled after quarterly reports and oil majors weighed, while Ferrexpo slumped after its auditor quit amid an accounting probe.

SMEs graduate from ECDC, Nelson Mandela Bay Business Chamber programme

SMMEs graduate from  Eastern Cape Development Corporation (ECDC), Nelson Mandela Bay Business Chamber enterprise development programme Port Elizabeth - KwaZakhele accountant Bathulile Mdabula (30) of Bathulile LPPG Consulting is one of 18 Nelson Mandela Bay entrepreneurs, who on Thursday graduated from the fifth phase of the Eastern Cape Development Corporation (ECDC) and Nelson Mandela Bay Business Chamber enterprise development programme of 2018/19. Aimed at improving the competitiveness and sustainability of Nelson Mandela Bay businesses, ECDC has injected R1.547 million into the programme since the 2014/15 financial year with 119 enterprises going through the five phases of the programme. Of the total of 119, 82 businesses successfully completed the requirements of the programme.

PICK N PAY STORES LIMITED - Retirement of Chief Finance Officer

Wrap Text Retirement of Chief Finance Officer Pick n Pay Stores Limited Incorporated in the Republic of South Africa Registration number: 1968/008034/06 Share Code: PIK ISIN code: ZAE000005443 RETIREMENT OF CHIEF FINANCE OFFICER In terms of section 3.59 of the JSE Listings Requirements, shareholders are advised that Mr Aboubakar Jakoet will be retiring from his position as Chief Finance Officer of the Pick n Pay Group. Bakar has agreed to remain as Chief Finance Officer until a successor has been appointed. The board of directors is finalising the appointment of a successor and shareholders will be updated in due course. The board extends its most sincere thanks and appreciation to Bakar for his dedication, diligence and commitment to Pick n Pay throughout his 34-year career.

Branders Printing Co boosts business confidence

Branders Printing Co, a family-run business, has reaffirmed its confidence in the Xerox brand, with its recent purchase of the Xerox D95 light production printer. This follows on the very successful installation of the Xerox Versant 180 over a year ago. These Xerox devices were purchased from Xerox Business Partner, XBC-IT and Altron Bytes Document Solutions (BDS).

BRIEF-Impala Platinum Holdings Faced Interruptions To Operations Caused By Eskom Disruptions

April 26 ( ) - Impala Platinum Holdings Ltd IMPJ.J :* JSE: IMP - THIRD QUARTER PRODUCTION REPORT FOR THE PERIOD 1 JANUARY TO 31 MARCH 2019 * IMPALA PLATINUM HOLDINGS LTD - METAL PRICES FOR OUR PRIMARY PRODUCTS REMAIN BUOYANT, ALLOWING US TO SUSTAIN PROFITABILITY IN FY2019, YEAR TO DATE* IMPALA PLATINUM HOLDINGS LTD - GROUP TONNES MILLED DURING QUARTER WERE SLIGHTLY LOWER AT 4.53 MILLION TONNES, COMPARED TO 4.59 MILLION TONNES* IMPALA PLATINUM HOLDINGS LTD - ALONG WITH REST OF SOUTH AFRICA WE WERE FACED WITH INTERRUPTIONS TO OUR OPERATIONS CAUSED BY ESKOM POWER DISRUPTIONS* IMPALA PLATINUM HOLDINGS LTD - TOTAL PLATINUM IN CONCENTRATE PRODUCTION DURING QUARTER WAS SLIGHTLY HIGHER AT 350 000 OUNCES* IMPALA PLATINUM HOLDINGS LTD - SOUTH AFRICAN OPERATIONS ELSEWHERE FARED LESS WELL IN QUARTER * IMPALA PLATINUM - QTRLY REFINED PLATINUM PRODUCTION INCREASED BY 5.4% TO 333 000 OUNCES, COMPARED TO 316 000 OUNCES IN PRIOR CORRESPONDING PERIOD * IMPALA PLATINUM HOLDINGS LTD - ENCOURAGED BY ONGOING INITIATIVES LED BY GOVERNMENT OF ZIMBABWE TO RESTORE ECONOMIC GROWTH* IMPALA PLATINUM HOLDINGS LTD - Q3 HISTORICALLY REMAINS A CHALLENGING PERIOD FOR IMPLATS, LARGELY AS A RESULT OF CHRISTMAS HOLIDAY BREAK* IMPALA PLATINUM HOLDINGS LTD - QTRLY PALLADIUM REFINED PRODUCTION 219000 OZ VERSUS 196000 OZ* IMPALA PLATINUM HOLDINGS - SITUATION FURTHER AGGRAVATED THIS YEAR BY UNEXPECTED ESKOM POWER SUPPLY ISSUES, WHICH IMPACTED SOUTH AFRICAN OPERATIONS* IMPALA PLATINUM HOLDINGS LTD - DURING FINAL QUARTER OF FINANCIAL YEAR, BUSINESS WILL FOCUS ON CONCLUDING MAINTENANCE ON RUSTENBURG'S NUMBER 3 FURNACE* IMPALA PLATINUM HOLDINGS LTD - BUSINESS WILL FOCUS PROGRESSING CLOSURE/DIVESTMENT FROM IMPALA 1 SHAFT* IMPALA PLATINUM HOLDINGS LTD - NOTWITHSTANDING ALL THESE CHALLENGES, MARKET GUIDANCE FOR 2019 FINANCIAL YEAR IS MAINTAINED* IMPALA PLATINUM HOLDINGS - MARULA MINED VOLUMES AND GROSS GROUP REFINED VOLUMES ARE LIKELY TO BE TOWARDS LOWER END OF GUIDED RANGE FOR YEAR* IMPALA PLATINUM HOLDINGS LTD - MARULA MINED VOLUMES AN

GLENCORE PLC - GLN:Announcement Re. The Commodity Futures Trading Commission

GLN 201904260004A GLN:Announcement Re. The Commodity Futures Trading Commission Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 25 April 2019 Announcement re the Commodity Futures Trading Commission Glencore has been informed by the United States Commodity Futures Trading Commission (‘CFTC') that the CFTC is investigating whether Glencore and its subsidiaries may have violated certain provisions of the Commodity Exchange Act and/or CFTC Regulations through corrupt practices in connection with commodities. Glencore understands that the CFTC's investigations are at an early stage and have a similar scope in terms of subject matter as the current ongoing investigation by the US Department of Justice (‘DOJ'). Glencore will cooperate with the CFTC. Glencore's response will be managed by its Investigations Committee, which was set up in July 2018 to oversee Glencore's response to the investigation by the DOJ. For further information please contact: Media Charles Watenphul t: +41 41 709 24 m: +41 79 904 33 charles.watenphul@glencore.com Investors 62 20 Martin Fewings t: +41 41 709 m: +41 79 737 martin.fewings@glencore.com Ash Lazenby 2880 t: +41 41 709 5642 m: +41 79 543 ash.lazenby@glencore.com 2714 3804 www.glencore.com Glencore LEI: 2138002658CPO9NBH955 This announcement contains inside information. Notes for Editors Glencore is one of the world's largest global diversified natural resource companies and a major producer and marketer of more than 90 commodities.

Canada's Saputo buys Kirin's cheese business in Australia for $179 mln - Nikkei

SYDNEY, April 26 (Reuters) - Canada's Saputo Inc. has purchased the Australian cheese business of Japan's Kirin Holdings for about 20 billion yen ($179 million), the Nikkei reported on Friday, citing anonymous sources. Japanese beer and beverage maker Kirin Holdings said last September it was reviewing its Australia-based subsidiary Lion Pty Ltd's dairy and drinks business, and was considering a possible sale.

African Markets - Factors to watch on April 26

NAIROBI, April 26 ( ) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - GLOBAL MARKETS Asian shares drifted off in sleepy trade on Friday, while the dollar held around two-year highs on speculation that figures later in the day will show the U.S. economy outperforming the rest of the developed world. WORLD OIL PRICES Oil prices dipped on Friday on hopes that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a tightening of sanctions on Tehran by the United States. O/R EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J SOUTH AFRICA MARKETS South Africa's rand turned flat in late afternoon trade on Thursday, but hovered near a four-week low hit earlier in the session on the back of a firmer dollar, while stocks fell. KENYA MARKETS The Kenyan shilling KES= held steady against the dollar on Thursday with inflows from horticulture exports and diaspora remittances helping meet dollar demand from oil and goods importers, traders said.

VUKILE PROPERTY FUND LIMITED - Interest payment notifications: VKE12 VKE13 and VKE14

VKE12 VKE13 VKE14 201904260011A Interest payment notifications: VKE12, VKE13 and VKE14 VUKILE PROPERTY FUND LIMITED (Incorporated in the Republic of South Africa) (Registration number 2002/027194/06) Company code: VKEI (Granted REIT status with the JSE) (‘Vukile') INTEREST PAYMENT NOTIFICATIONS: VKE12, VKE13 AND VKE14 In accordance with the terms and conditions of the R5 000 000 000 Domestic Medium Term Note Programme dated 6 December 2018, noteholders are advised of the following information in respect of interest payments: Bond code: VKE12 ISIN: ZAG000151051 Interest period: 4 February 2019 to 2 May 2019 Coupon rate: 8.75% Capital amount due: - Interest amount due: R3 164 383.56 Interest Payment date: 3 May 2019 Business date convention: Modified following business day* Bond code: VKE13 ISIN: ZAG000153602 Interest period: 27 February 2019 to 26 May 2019 Coupon rate: 8.70% Capital amount due: - Interest amount due: R11 349 328.77 Interest Payment date: 27 May 2019 Business date convention: Modified following business day* Bond code: VKE14 ISIN: ZAG000153610 Interest period: 27 February 2019 to 26 May 2019 Coupon rate: 8.80% Capital amount due: - Interest amount due: R8 046 575.34 Interest Payment date: 27 May 2019 Business date convention: Modified following business day* * When the interest payment date falls on a non-business day, such interest payment will be paid on the first business day after the weekend or public holiday. However, if the first business day after the weekend or public holiday falls in a new calendar month the last business day before the weekend or public holiday will be used instead. 26 April 2019 Debt sponsor Java Capital Date: 26/04/2019 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

S.Africa's Implats says Q3 platinum output up

JOHANNESBURG, April 26 ( ) - South Africa's Impala Platinum IMPJ.J (Implats) said on Friday third-quarter platinum production rose despite Eskom power cuts and community disruptions at its Marula mine. Platinum in concentrate production was 1 percent higher at 350,000 ounces in the quarter ended March 31 compared with the same period last year, the company said. Refined platinum production during the quarter ended March 31 increased by 5 percent to 333,000 ounces. The firm said a stronger mining performance at Impala Rustenburg was offset by lower tonnage at Marula and Zimplats. Platinum production at the Marula mine, which fell by 25 percent from a year earlier to 15,000 ounces was hampered by community disruptions, which resulted in a seven-day work stoppage and Eskom power interruptions "While we could manage this at Impala Rustenburg due to the flexibility offered by our integrated mining and processing operations, our other South African operations elsewhere fared less well," said Implats' Chief Executive Officer, Nico Muller in a statement. Eskom, which supplies more than 90 percent of electricity in Africa's most advanced economy, cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations depressed supply..

GLENCORE PLC - GLN: Transactions In Own Shares-25 April 2019

Wrap Text GLN: Transactions In Own Shares-25 April 2019 Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 26 April 2019 Transactions in own shares-25 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 25 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,000,000 Lowest price paid per share (GBp): 320.6500 Highest price paid per share (GBp): 327.4000 Volume weighted average price paid per share (GBp): 323.8181 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 774,157,649 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,812,042,417. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted Trading venue

Glencore probe, weak earnings reports drag FTSE 100 lower

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 down 0.5 pct; FTSE 250 down 0.2 pct* Glencore falls after U.S. CFTC probe * Brexit uncertainty hits RBS profits* Ferrexpo tanks after auditor quits* Computacenter rallies on mid-caps April 26 (Reuters) - The FTSE 100 edged lower on Friday as Glencore fell on a U.S. CFTC investigation, RBS and Just Eat tumbled after quarterly reports and oil majors weighed, while Ferrexpo slumped after its auditor quit amid an accounting probe. The FTSE 100 .FTSE was 0.5 percent lower and the FTSE 250 .FTMC was down 0.2 percent by 0726 GMT. Mining heavyweight Glencore GLEN.L fell 3.7 percent after disclosing an investigation by the U.S.

IMPALA PLATINUM HOLDINGS LIMITED - Third quarter production report for the period 1 January to 31 March 2019

IMP 201904260003A Third quarter production report for the period 1 January to 31 March 2019 IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ADR code: IMPUY ISIN: ZAE000083648 (‘Implats' or ‘the Group') Third quarter production report for the period 1 January to 31 March 2019 Implats' Chief Executive Officer, Nico Muller, commented: ‘The Group achieved a record safety result during the quarter, which underpinned sustained operational delivery, despite a traditionally weak production quarter for Implats. Metal prices for our primary products remain buoyant, allowing us to sustain profitability in FY2019, year to date. Along with the rest of South Africa we were faced with interruptions to our operations caused by Eskom power disruptions: while we could manage this at Impala Rustenburg due to the flexibility offered by our integrated mining and processing operations, our other South African operations elsewhere fared less well.

Pick n Pay says profits rose by a fifth thanks to SA business and better prices

Pick n Pay Stores says net profit rose by about a fifth in the financial year to March 3, even as its operations outside SA stumbled. "The group's improved performance is anchored by strong performances from its stores serving the growing lower to middle income communities of SA, a more competitive price position and a substantively improved fresh offer," it said. Profit after tax was R1.65bn in the 53-week period, versus R1.3bn in the prior 52-weeks.

Business Maverick: Rico: Cartoon Friday

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Applications Open For RCL Foods Internship Programme 2020

. The RCL FOODS Management Trainee Programme aims to provide support to the RCL FOODS Group talent pipeline, which develops future young talent for Leadership roles within our business. Requirements Completed studies or currently in the final year of study Relevant BTech / Bachelors Degree South African citizen or permanent resident Good academic results (all subjects, across all years of study) Drivers License Computer Literacy (MS Office, including Excel and Word) • Excellent Communication skills Duties The programme begins each year in February and runs for a 3 year period. During this time our Permanent Management Trainees are developed and coached by technical experts in their respective fields.

Growing Kruger connectivity the newest rung in SA's route development, as 66% of Africa's underserved markets open for busin

In the business of travel and tourism - air connectivity is paramount. The inter-connectivity of the two industries to propel economic growth and development is complex, especially in Africa, with Cape Town Air Access (CTAA) being the poster child for the very concept. With its recent feather of getting  United Airlines to return to Africa (it ended its service to Nigeria in 2015) with a direct flight to our tip down in South - SA is leading the way.

SOUTH32 LIMITED - Daily Share Buy-Back Notice

S32 - - 26/04/2019 Please note that the JSE will be closing at 3pm on 26th April to accommodate for the launch of the new Derivatives platform. Release Date: 26/04/2019 08:30 Code(s): S32   Wrap Text Daily Share Buy-Back Notice South32 Limited (Incorporated in Australia under the Corporations Act 2001) (ACN 093 732 597) ASX / LSE / JSE Share Code: S32 ISIN: AU000000S320 south32.net South32 Limited Daily Share Buy-Back Notice The Daily share buy-back notice (Appendix 3E) lodged on the Australian Securities Exchange and voluntarily disclosed on the Johannesburg Stock Exchange and London Stock Exchange has today been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/nsm: • South32 Limited - Daily share buy-back notice - Appendix 3E Further information on South32 can be found at: www.south32.net. INVESTOR RELATIONS Alex Volante Tom Gallop T +61 8 9324 9029 T +61 8 9324 9030 M +61 403 328 408 M +61 439 353 948 E Alex.Volante@south32.net E Tom.Gallop@south32.net MEDIA RELATIONS James Clothier Jenny White T +61 8 9324 9697 T +44 20 7798 1773 M +61 413 391 031 M +44 7900 046 758 E James.Clothier@south32.net E Jenny.White@south32.net JSE Sponsor: UBS South Africa (Pty) Ltd 26 April 2019 Date: 26/04/2019 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

IMPALA PLATINUM HOLDINGS LIMITED - Third quarter production report for the period 1 January to 31 March 2019

Wrap Text Third quarter production report for the period 1 January to 31 March 2019 IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ADR code: IMPUY ISIN: ZAE000083648 ("Implats" or "the Group") Third quarter production report for the period 1 January to 31 March 2019 Implats' Chief Executive Officer, Nico Muller, commented: "The Group achieved a record safety result during the quarter, which underpinned sustained operational delivery, despite a traditionally weak production quarter for Implats. Metal prices for our primary products remain buoyant, allowing us to sustain profitability in FY2019, year to date. Along with the rest of South Africa we were faced with interruptions to our operations caused by Eskom power disruptions: while we could manage this at Impala Rustenburg due to the flexibility offered by our integrated mining and processing operations, our other South African operations elsewhere fared less well.

Financing energy projects: "the traditional business model needs to change"

Weighing in on the financial models needed for the African energy sector to stay relevant in a changing market, ESI Africa spoke with three experts . "Honestly, I think the business model for energy investment needs to change," says Penny Herbst, Director Strategy for Africa GreenCo . "There are far too many players that are comfortable with the same structures for investment, selling to an SOE (state-owned enterprise) with a government guarantee.

Australia's Aurelia Metals in talks to buy Glencore's CSA copper mine

April 26 (Reuters) - Australian miner Aurelia Metals Ltd said on Friday it was in talks about a possible acquisition of the CSA copper mine in New South Wales state, owned by global trader Glencore. "The company's high-level assessment is that CSA mine could potentially be a strategic fit for AMI," Aurelia said in a statement. Fellow Australian copper producer Aeris Resources Ltd said earlier this month it was unable to reach an agreement with Glencore on its $575 million offer to buy the CSA copper mine.

GOLD FIELDS LIMITED - Operating Update Quarter ended March 2019

GFI 201904250009A Operating Update Quarter ended March 2019 Gold Fields Limited Incorporated in the Republic of South Africa Registration number 1968/004880/06 Share code: GFI Issuer code: GOGOF ISIN - ZAE 000018123 Media Release Gold Fields Operating Update Quarter ended March 2019 JOHANNESBURG. 25 April 2019: Gold Fields Limited (NYSE & JSE: GFI) is pleased to provide an operational update for the quarter ended 31 March 2019. Detailed financial and operational results are provided on a six-monthly basis i.e.

Everything is A-ok at SA government's largest pension fund, says head

The head of South Africa's largest state pension fund, Abel Sithole , has said the fund remains financially sound and employers would not need to increase contributions, despite concerns raised by Alexander Forbes Financial Services in a valuation. The Government Employees Pension Fund (GEPF) is Africa's largest, with over 1.2-million active members and more than 400 000 pensioners and beneficiaries. An Alexander Forbes actuarial valuation reported that, as of March 2018, the fund was facing a contribution shortfall of R5.6-billion per year, or about 0.34% of the its liabilities.

Finding the right target market for your small business

Marketing is such a crucial aspect for any business and often it is one of the easiest to overlook. Mostly our marketing efforts boil down to being able to control our customers' expectations. For example, if we promise the greatest product to ever come to the market but fail to deliver then we have raised our customers' expectations without even meeting them; forget about going beyond! This means the customers are dissatisfied; and when they are dissatisfied, they will look elsewhere to meet their expectations.

Moody's inaugural emerging markets indicator shows liquidity stronger in Emerging Europe…

— The index measures the percentage of high-yield companies in EMs with the weakest speculative grade liquidity score of SGL-4, as a proportion of EM high-yield corporate family ratings. — The inaugural index is weak, weighed down by companies in Asia Pacific. Moody's Investors Service has launched its inaugural global emerging markets (EM) liquidity stress index (LSI).

Jewellery gives platinum biggest bang for marketing buck by far - Amplats

JOHANNESBURG (miningweekly.com) - Marketing investment in the jewellery sector provides platinum with its biggest, best and quickest return by a long shot, with platinum jewellery accounts for 30% of the overall platinum demand and at least half of that demand from China. Marketing spend on physical platinum promotion comes in second and marketing spend to promote industrial platinum uses is the third-biggest return giver. When it comes to jewellery, marketing works in platinum just as well as it does in diamonds, Anglo American Platinum (Amplats) CEO Chris Griffith informs Mining Weekly Online .

ANGLO AMERICAN PLATINUM LIMITED - PGM Production Report for the First Quarter ending 31 March 2019

Wrap Text PGM Production Report for the First Quarter ending 31 March 2019 ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 ("The Company" or "Anglo American Platinum") ANGLO AMERICAN PLATINUM LIMITED PGM PRODUCTION REPORT FOR THE FIRST QUARTER ENDING 31 MARCH 2019 OVERVIEW • Commitment to elimination of fatalities - no fatalities occurred in Q1 2019 • Total PGM production (expressed as 5E+Au metal in concentrate) decreased 6% to 998,900 ounces, (normalising for the transition of Sibanye-Stillwater material to a tolling arrangement), due to the once-off benefit of additional ore stockpile which increased production at Mototolo and Unki in Q1 2018, as well as Eskom power disruptions and operational challenges across the portfolio in the quarter • Own managed mines PGM production increased 4% to 601,000 ounces, due to the inclusion of Mototolo as own-mine production • Joint venture PGM production (mined and purchase of concentrate) decreased 29% to 210,400 ounces due to Mototolo now reported as an own mine • Purchase of PGM concentrate from third parties decreased by 44% to 216,800 ounces largely due to the transition of material from Sibanye-Stillwater to a tolling arrangement • Refined PGM production decreased by 14% to 871,200 ounces following the triennial planned stock take at the PMR, maintenance at processing operations, as well as the impact from Eskom power disruptions • PGM sales volumes were down 21% to 884,900 ounces, largely in line with lower refined production • 2019 Production guidance (metal in concentrate) remains unchanged at 4.2 - 4.5 million PGM ounces Anglo American Platinum Q1 2019 Q1 2019 PGM Production Report - Q1 2019 Q1 Q4

KUMBA IRON ORE LIMITED - Kumba Iron Ore Limited production and sales report for the quarter ended 31 March 2019

Wrap Text Kumba Iron Ore Limited production and sales report for the quarter ended 31 March 2019 Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) (Registration number 2005/015852/06) Share code: KIO ISIN: ZAE000085346 ("Kumba" or "the company") Kumba Iron Ore Limited Production and Sales Report for the quarter ended 31 March 2019 Kumba is on track to deliver its sales and production guidance of 43-44Mt for 2019, with continued focus on improving its health, safety and operational performance. Throughout this report, production and sales volumes referred to are 100% of Sishen Iron Ore Company Proprietary Limited ("SIOC"), and attributable to shareholders of Kumba as well as the non-controlling interests in SIOC. Overview: - Kumba continued to be fatality free, with ongoing focus on improving its health and safety performance. - Total sales of 10.9Mt were in line with Q1 2018, with export sales increasing by 2% to 10.1Mt. - Total production volumes decreased by 12% compared to Q1 2018, due to maintenance requirements at Sishen and Kolomela. - Total finished stock reduced to 4.2Mt, from 5.3Mt at 31 December 2018. Sales summary Quarter ended ' 000 tonnes % change Quarter ended % change Q1 Q1 vs Q4 vs 2019 2018 Q1 2018 2018 Q4 2018 Total 10,879 10,831 - 11,591 (6) - Export sales 10,131 9,946 2 10,723 (6) - Domestic sales 748 885 (16) 868 (14) Production summary Quarter ended ' 000 tonne

GOLD FIELDS LIMITED - Potential bond offering

GFI 201904250051A Potential bond offering Gold Fields Limited (Reg. No. 1968/004880/06) (Incorporated in the Republic of South Africa) (‘Gold Fields' or ‘the Company') JSE, NYSE, DIFX Share Code: GFI ISIN Code: ZAE000018123 MEDIA RELEASE Potential bond offering NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Johannesburg, 25 April 2019: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) has mandated certain investment banks to arrange a series of fixed income investor meetings in the US and London commencing Monday 29th April.

Anglo American Platinum Says Qtrly Total PGM Production Decreased 6 Pct To 998,900 Ounces

(Reuters) - Anglo American Platinum Ltd: * 2019 PRODUCTION GUIDANCE (METAL IN CONCENTRATE) REMAINS UNCHANGED AT 4.2 - 4.5 MILLION PGM OUNCES * QTRLY TOTAL PGM PRODUCTION DECREASED 6% TO 998,900 OUNCES * FY PRODUCTION GUIDANCE DOWN ON 2018 DUE TO TRANSITION OF SIBANYE-STILLWATER MATERIAL TO A TOLLING ARRANGEMENT IN PLACE * QTRLY REFINED PGM PRODUCTION DECREASED BY 14% TO 871,200 OUNCES * QTRLY PGM SALES VOLUMES WERE DOWN 21% TO 884,900 OUNCES, LARGELY IN LINE WITH LOWER REFINED PRODUCTION Source text for Eikon: Further company coverage: 2019-04-25 08.

Gold worth billions smuggled out of Africa

NAIROBI (Reuters) - Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reuters analysis has found. Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity - up from 67 tonnes in 2006.

Output at South Africa's Amplats hit by Eskom power cuts

JOHANNESBURG, April 25 (Reuters) - South African miner Anglo American Platinum Ltd's (Amplats) first quarter production fell 6 percent, hit by problems at power supplier Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom, which supplies more than 90 percent of electricity in Africa's most advanced economy, pose a threat to miners which are among the biggest users of power in the country and are already grappling with weak profits. Amplats' total platinum group metal (PGM) production fell 6 percent to 998,900 ounces for the quarter ended March.

Power disruptions hinder Amplats' first quarter production

JOHANNESBURG (miningweekly.com) - Anglo American Platinum's (Amplats') first-quarter production was significantly impacted on by power disruptions, with total platinum group metals (PGMs) production down 6% year-on-year. The year-on-year dip to 998 900 oz of PGMs was also as a result of the one-off benefit of additional ore stockpile which lifted production at Mototolo and Unki in 2018, as well as operational challenges across the portfolio. PGMs production at Amplats' own-managed mines increased by 4% to 601 000 oz, owing to the inclusion of Mototolo.

Business Maverick: Banks Entice South African Millennials With Rap, Free Food

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Kaz Minerals quarterly copper output rises, maintains full-year outlook

Kaz Minerals said on Thursday its first-quarter copper production rose 4%, boosted by robust volumes at its Aktogay mine in Kazakhstan, while the miner maintained its output forecast for the year. The company, which in February posted annual copper production of 295 000 t, kept its 2019 output unchanged at around 300 000 t, as it expects higher output from its Bozshakol mine and operations in the eastern part of the country. "Over the remaining nine months of 2019, two scheduled mill relinings are due to take place (at Aktogay) and processing grades will continue to decline from current levels," the company said.

MIDEAST STOCKS-UAE markets slip on ex-dividend stocks, Saudi inches up

April 25 (Reuters) - Dubai and Abu Dhabi's stock markets slid on Thursday, pulled down by firms which traded ex-dividend, while most major Gulf markets fell. Dubai's index declined 0.8 percent, with Dubai Investments plunging 8 percent as the stock traded ex-dividend. Emaar Properties, the Emirate's largest listed developer, was down 1 percent.

GLENCORE PLC - GLN: Transactions In own Shares-24 April 2019.

GLN 201904250028A GLN: Transactions In own Shares-24 April 2019. Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 25 April 2019 Transactions in own shares-24 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 24 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,250,000 Lowest price paid per share (GBp): 330.5500 Highest price paid per share (GBp): 337.0500 Volume weighted average price paid per share (GBp): 333.9971 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 772,157,649 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,814,042,417. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted average Trading venue Aggregated volume price London Stock Exchange 334.0484 1,303,601 BATS 333.5914 81,222 Chi-X 333.9579 865,177 Transaction details In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Citigr

Merafe's first-quarter chrome production down 1% y/y

JSE-listed Merafe Resources' ferrochrome production from the Glencore Merafe joint venture decreased by 1% in the quarter ended March 31 to 104 000 t, compared with the 105 000 t produced in the quarter ended March 2018. The company previously stated that growth in demand was projected for ferrochrome globally, especially from Indonesia's stainless steel industry. Merafe also said Eskom's power supply challenges remained a key risk factor for the joint venture this year.

Barloworld optimistic ‘black public' will take up offer to invest in new property group

Industrial group Barloworld is optimistic that qualifying black South Africans will respond positively to its offer to buy a maximum of 30% of the shares available in a new black-owned property company, called Khula Sizwe Property Holdings, being created as part of a larger R3.5-billion broad-based black economic empowerment (BBBEE) transaction. The property component of the transaction involves the sale by Barloworld of 68 mostly industrial properties across South Africa to Khula Sizwe. The transaction will also be accompanied by a ten-year triple-net lease with Barloworld South Africa and Barloworld Logistics, escalating at 8% a year.

How to plan succession in a small business

One day this business will be yours! Does your small business have a succession plan? Where do you even begin? Ray White (in for Bruce Whitfield on The Money Show) asked Pavlo Phitidis of Aurik Business Accelerator how to "deal make" and plan succession from the founder to the successor through a management buy-out. For a detailed discussion listen to the interview in the audio below. Enjoy The Money Show, but miss it sometimes? Get the best bits emailed to you daily, right after it ends.

First hybrid dump truck to cart copper at Codelco's El Teniente mine in Chile

EL TENIENTE MINE - The world's top copper miner Codelco has added its first hybrid dumptruck to its fleet at its El Teniente mine, the company said on Wednesday, in a global mining industry that is increasingly seeking to reduce its emissions and environmental footprint. The so-called Load-Haul-Dump truck, known as an LHD, built by Japanese equipment manufacturer Komatsu, is expected to boost productivity by 10% to 20%, Codelco said, while reducing emissions by upward of 25%. "This will permit us to boost productivity, improve work conditions underground and reduce costs, especially in terms of ventilation," said Octavio Araneda , a VP of operations for Codelco.

TRAINING BUSINESS: LEADING South African defensive driving company

LEADING South African defensive driving company looking for an Eastern Cape based similar training business to partner and/or deliver driver training to their customers. Send interest along with website / capabilities information to hr@advanceddriving.co.za.

African Markets - Factors to watch on April 25

MTN:   10,225     0 (0.00%)   25/04/2019 00:00 NAIROBI, April 25 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - GLOBAL MARKETS Asian shares slipped on Thursday as a surprise deterioration in German and South Korean economic data rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. WORLD OIL PRICES Oil prices dipped on Thursday as record U.S.

JSE could open slightly lower on Thursday with BHP and Naspers losing ground

The JSE could open slightly lower again on Thursday, with index heavyweights Naspers and BHP Group set to start the day on the back foot. Barring Japan's Nikkei 225 index, which was 0.5% up, Asian stocks were mostly lower by the end of the morning session, taking their cue from US markets, which lost ground overnight. The Shanghai Composite index was 0.7% down, Korea's Kospi was 0.4% lower after data showed that economy shrank unexpectedly in the first quarter, and Hong Kong's Hang Seng Index was marginally lower. Naspers associate Tencent was 0.7% down in Hong Kong and BHP Group was 0.3% lower in Australia. RDI Reit, which closed 13.8% down on Wednesday after the landlord rejected a takeover offer, is due to publish results for the six months ended February on Thursday morning. Vunani is scheduled to report results for the year ended February. The group said last week its headline earnings per share had more than doubled. Stats SA is due to release the producer price index (PPI) for March, construction materials price indices, and trade data. Later in the day, US jobless claims numbers are due. The rand strengthened slightly on Thursday morning after losing ground overnight. It was trading at R14.41/$, R18.59/£ and R16.07/€. "Broad-based gains for the dollar, with the dollar trading close to a two-year high, is turning up the heat for emerging markets with no exception to the rand," said Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions. The rand's technical trading range for Thursday was R14.38-R14.50 versus the dollar, Botes said. hedleyn@businesslive.co.za.

A2X growing steadily

Mr Price announces its secondary listing on the competitor to the JSE, and more companies could join the list soon. The listing of Mr Price on A2X will increase the number of JSE companies that have opted for a secondary listing on the fairly new stock exchange to a total of 20, and pushes the total market capitalisation of shares listed on the new player close to R2.5 trillion. Mr Price shares will be available for trading from May 2, around 20 months since A2X switched on its trading system for the first time. In essence, A2X has been able to add a new listing every month since the exchange opened on October 6, 2017. "We are very happy with the progress to date," says Gary Clarke, head of legal and regulation at A2X. "Breaking a monopoly is an incredibly hard thing to do and we knew it wasn't going to be easy." Trading statistics on A2X prove that it was indeed difficult to get going.

Mid Cap Darlings - Imperial

An African proverb says that "ukuhamba kukubona", which loosely translated means that through travel, you get to see. Imperial Logistics Limited is not a spectacles company, but through their logistics operations, you may see - at least the industries they serve will see. Business Model: Imperial provides integrated supply chain and logistics solutions primarily in Africa, but with operations in the Eurozone.

BUSINESS MAVERICK: With a few exceptions, corporate SA has ditched the idea of funding political parties

Gold bullion coins known as Krugerrands are pictured in the mint where they are manufactured in Midrand outside Johannesburg (EPA) sa gold With a great flourish, SA's political parties rushed through Parliament the Political Party Funding Act just prior to the start of the 2019 election campaign. It was transparently an attempt to look squeaky clean in a campaign sure to be dominated by the issue of corruption. Then the implementation of the legislation was delayed by the Electoral Commission of South Africa.

BUSINESS MAVERICK: With a few exceptions, corporate SA has ditched the idea of funding political parties

Gold bullion coins known as Krugerrands are pictured in the mint where they are manufactured in Midrand outside Johannesburg (EPA) sa gold With a great flourish, SA's political parties rushed through Parliament the Political Party Funding Act just prior to the start of the 2019 election campaign. It was transparently an attempt to look squeaky clean in a campaign sure to be dominated by the issue of corruption. Then the implementation of the legislation was delayed by the Electoral Commission of South Africa.

BUSINESS MAVERICK: Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders. That means Agarwal has to act, by either refinancing his stake or raising it.

Max disposal hits Life Healthcare's earnings

The group will report lower first-half earnings partly due to costs related to the sale of its stake in Max Healthcare. Life Healthcare says it's had a positive start to its 2019 financial year despite challenging operating conditions. But it will report a first-half loss due to impairments, transaction costs and a loss on options contracts following the sale of its Max Healthcare investment in India.

GLOBAL MARKETS-Asian shares dip; euro weighed by sagging German business morale

* Asian stock markets: https://tmsnrt.rs/2zpUAr4 * Wall St shares hover below record highs, supported by earnings * Dollar brushes near 2-year peak, sterling stuck near 2-mth lows * Treasury curve steepest in 5 mths; underlying sentiment positive * BOJ decision due later Thur; Markets also eye U.S. Q1 GDP on Fri By Tomo Uetake TOKYO, April 25 (Reuters) - Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. The euro slumped to a 22-month low against the U.S. dollar overnight after the drop in German business confidence highlighted the divergence between data in the euro zone and the United States.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.2 percent, while Japan's Nikkei average .N225 edged up 0.3 percent to 22,264.81 points. Overnight, Wall Street shrugged off some earnings misses but drifted lower at the end of the session, after the S&P 500 .SPX and the Nasdaq Composite .IXIC registered record closing highs on Tuesday.

GLOBAL MARKETS-Asian shares dip; euro weighed by sagging German business morale

* Asian stock markets: tmsnrt.rs/2zpUAr4 * Wall St shares hover below record highs, supported by earnings * Dollar brushes near 2-year peak, sterling stuck near 2-mth lows * Treasury curve steepest in 5 mths; underlying sentiment positive * BOJ decision due later Thur; Markets also eye U.S. Q1 GDP on Fri By Tomo Uetake TOKYO, April 25 (Reuters) - Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. The euro slumped to a 22-month low against the U.S.

OUR BURNING PLANET: Mining company threatens to ‘Slapp' green activists over Facebook posts

Members of the Mfolozi Community Environmental Justice Organisation (MCEJO) protest against Tendele's coal mine operations at Somkhele, KwaZulu-Natal. (Photo: Rob Symons) Environmental activists and their lawyers opposed to mining in ecologically sensitive areas are allegedly being subjected to ‘lawfare' by lawyers for the mining companies. They are being sued for defamation for posts on Facebook, and other comments made about the mining operations.

GLOBAL MARKETS-Asian shares dip; euro weighed by sagging German business morale

* Asian stock markets: tmsnrt.rs/2zpUAr4 * Wall St shares hover below record highs, supported by earnings * Dollar brushes near 2-year peak, sterling stuck near 2-mth lows * Treasury curve steepest in 5 mths; underlying sentiment positive * BOJ decision due later Thur; Markets also eye U.S. Q1 GDP on Fri By Tomo Uetake TOKYO, April 25 (Reuters) - Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. The euro slumped to a 22-month low against the U.S.

Flash Briefing: Bidding war for Moz gas giant; PSG at 20% discount; Rand falls sharply

Energy group Anadarko Petroleum, which owns huge tracts of gas reserves in Mozambique, has become the subject of a bidding war. US major Occidental Petroleum yesterday tabled an offer of $38bn for Anadarko, topping a $33bn bid from Chevron Corporation that was accepted by the target company earlier this month. Apart from its Mozambican jewels, Anadarko also has prized shale gas assets in the US.

UPDATE 1-Anglo American copper output rises, ramps up Minas-Rio iron ore mine

(Adds details, CEO quote, background) April 25 (Reuters) - Anglo American Plc said on Thursday copper production rose in the first quarter, while output from Minas-Rio iron ore mine in Brazil soared as it ramped it up after resuming operations late last year. Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the diversified miner with an over century-old history said. Minas-Rio iron ore production jumped 61 percent.

5 things you need to know in SA business today and the perfect way to start an email

1. The Association of Mineworkers and Construction Union is no longer a genuine trade union and he intends to cancel its registration, the registrar of labour relations announced on Wednesday.  In a notice in the Government Gazette published on Wednesday, registrar Lehlohonolo Molefe said that Amcu had "ceased to function in terms of its constitution" and, separately, "is not a genuine trade union" as envisaged by South Africa's Labour Relations Act. Last week  Amcu called off a 5-month-long strike at the Sibanye-Stillwater mining company  that it launched after other unions at the company agreed to a three-year wage deal that Amcu said was not good enough.

Business Uganda Airlines resumes after 18 years

Uganda's President Yoweri Museveni recently received two Bombardier CRJ900 jets from Canada at Entebbe International Airport. The arrival of the new planes, with the word Uganda Airlines on the sides of the aircraft, marks the official comeback for the East African country's national carrier, that was grounded in 2001. Commercial flights are expected to start in July, and two more Bombardier planes are to be added to the fleet later this year.

BRIEF-Anglo American Platinum Says Qtrly Total PGM Production Decreased 6 Pct To 998,900 Ounces

April 25 ( ) - Anglo American (LON:AAL) Platinum Ltd AMSJ.J : * 2019 PRODUCTION GUIDANCE (METAL IN CONCENTRATE) REMAINS UNCHANGED AT 4.2 - 4.5 MILLION PGM OUNCES * QTRLY TOTAL PGM PRODUCTION DECREASED 6% TO 998,900 OUNCES * FY PRODUCTION GUIDANCE DOWN ON 2018 DUE TO TRANSITION OF SIBANYE-STILLWATER MATERIAL TO A TOLLING ARRANGEMENT IN PLACE * QTRLY REFINED PGM PRODUCTION DECREASED BY 14% TO 871,200 OUNCES * QTRLY PGM SALES VOLUMES WERE DOWN 21% TO 884,900 OUNCES, LARGELY IN LINE WITH LOWER REFINED PRODUCTION.

African Markets - Factors to watch on April 25

NAIROBI, April 25 ( ) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - GLOBAL MARKETS Asian shares slipped on Thursday as a surprise deterioration in German and South Korean economic data rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. WORLD OIL PRICES Oil prices dipped on Thursday as record U.S. output and rising crude stockpiles dampened the impact on markets of tighter U.S.

Acer For Business - Better Together

Committed to a channel business model, we acknowledge the importance of the partnership with resellers who share our ambition for growth and sustainable business. Join the Acer Synergy program today. #BetterTogether Checkout: https://www.acer.com/ac/en/GB/content/professional-synergy.

EPP sells shares to new investor

The Polish property group announced an accelerated bookbuild to bring a "significant" new investor on board. EPP has raised a bigger than expected R1.45 billion through an accelerated bookbuild due to strong demand for its stock. The Polish property investor, previously called Echo Polska Properties, had planned to raise R1.2 billion but later raised its target to R1.4 billion.

BUSINESS MAVERICK: With a few exceptions, corporate SA has ditched the idea of funding political parties

With a great flourish, SA's political parties rushed through Parliament the Political Party Funding Act just prior to the start of the 2019 election campaign. It was transparently an attempt to look squeaky clean in a campaign sure to be dominated by the issue of corruption. Then the implementation of the legislation was delayed by the Electoral Commission of South Africa.

Latam markets weaker, Brazil plagued by pension reform worries

(Recasts throughout, updates prices) By Susan Mathew April 24 (Reuters) - Brazil's currency and stocks fell on Wednesday as potential hurdles for pension reforms weighed, while other Latin American stocks tracked world equities lower. Currencies succumbed to a stronger dollar. MSCI's index of Latin American shares fell 0.9 percent, while its index of regional currencies slipped 0.4 percent, both having touched their lowest since late March as stocks and currencies across Latam were well in the red.

BUSINESS MAVERICK: Department of Labour threatens to cancel Amcu's registration

There has long been speculation that the Association of Mineworkers and Construction Union was in the Department of Labour's sights because of its failure to hold regular leadership elections and other regulatory transgressions. But its charismatic president Joseph Mathunjwa is unlikely to go down without a fight..

BUSINESS MAVERICK: Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders. That means Agarwal has to act, by either refinancing his stake or raising it.

PSG gets a kicker from Capitec

The bank now makes up two-thirds of PSG's value from just over half a year ago. A sharp rise in Capitec's share price last year has boosted the value of PSG Group - and its earnings. The two benchmarks the investment group uses to measures its performance are the sum-of-the-parts (SOTP) value of its investments and recurring earnings per share.

BUSINESS MAVERICK: Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders. That means Agarwal has to act, by either refinancing his stake or raising it.

BUSINESS MAVERICK: After a bruising battle in the gold sector, tense wage negotiations loom in the platinum space

For the militant AMCU union, smarting from a disastrous five-month strike at Sibanye-Stillwater's gold mines that achieved nothing beyond making its members poorer, the stakes are high in pending wage talks. Amcu battered its way on to the platinum belt seven years ago in part because it was able to take advantage of platinum's company-by-company approach to wage negotiations. That is no longer an advantage.

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BUSINESS MAVERICK: Department of Labour threatens to cancel Amcu's registration

Things are about to heat up on the platinum belt and the gold fields. Published in the Government Gazette on Wednesday, the notice is brief and blunt: the department of labour intends to cancel the registration of the Association of Mineworkers and Construction Union (Amcu) as a trade union "for the following reasons": " The trade union has ceased to function in terms of its constitution (and) … The trade union is not a genuine trade union as envisaged in the act." Amcu will have 60 days to lodge its objections and its officials were not immediately available for comment. But its objections may not just come in writing.

Business Maverick: Impact investing could bridge the socialist/capitalist divide

A conference this week examined one of the trickiest issues of our day: why is it proving so difficult to mobilise retirement funds to aid social upliftment? Meanwhile, inequality is rising and threatening to become a political time bomb, environmental crises are increasing, tax revolts are looming, and levels of violent social unrest could become unmanageable. Is there a solution? Cue impact investing..

Mali seeks to add value to cotton [Business Africa]

Mali's economy could have raked in some $1.6 billion dollars in 2018. And that's if authorities had industrial processing units to add value to cotton. The West African nation is Africa's top cotton producer, but lack of investments in the sector means local farmers are short-changed.

Business Maverick: Competition watchdog names and shames MTN, Vodacom for high data prices

The Competition Commission's provisional report on the cost of mobile data in South Africa has confirmed what many people have long suspected. Mobile pre-paid data in South Africa is expensive, compared with most sub-Saharan Africa countries, the Competition Commission has unsurprisingly found.  Data prices that are charged in the country by telecommunications titans, Vodacom and MTN, are higher than those they charge in markets outside of South Africa.

Steinhoff's missing R273m

The company's 2016 acquisition of Tekkie Town has left a hole of R273m in Steinhoff's accounts.

Business Maverick: Thursday April 25: Five Things You Need to Know to Start Your Day

Facebook, Microsoft Shine; Tesla Not So Much Facebook reported glowing results, as first-quarter revenue rose a better-than-projected 26 percent on the strength of its advertising business. Microsoft topped estimates too, raking in $30.6 billion in revenue thanks to a flurry of cloud-computing deals. The results were less rosy at Tesla. While the carmaker reaffirmed its delivery guidance for the year, it lost $2.90 a share for the period, missing estimates for a loss of $1.30.

Business Maverick: Cosatu Urges Mboweni to Take His Own Advice and Retire

When SA Finance Minister Mboweni was appointed in October to replace Nhlanhla Nene as finance minister, the Congress of South African Trade Unions made it clear it should only be a transitional move, Michael Shingange, Cosatu's first deputy president, said on Tuesday in an interview in Bloomberg's Johannesburg office. "This is a man who says people who are 55 years old must retire because they are too old," Shingange said. "It would be a huge shock for us if Tito Mboweni was to avail himself to be the minister of finance," after the May election, and that is something Cosatu would oppose, he said.

Business Maverick: Banks Entice South African Millennials With Rap, Free Food

The biggest lenders are facing an onslaught of entrants for the first time in 12 years. They're responding before the newcomers find their feet by pushing loyalty programs, revamping digital offerings for technology-savvy millennials, targeting existing customers with extra products and services and cutting fees. The challengers — some of whose founders or senior staff cut their teeth in the banks they're now up against — couldn't be coming at a worse time.

Business Maverick: Banks Entice South African Millennials With Rap, Free Food

The biggest lenders are facing an onslaught of entrants for the first time in 12 years. They're responding before the newcomers find their feet by pushing loyalty programs, revamping digital offerings for technology-savvy millennials, targeting existing customers with extra products and services and cutting fees. The challengers — some of whose founders or senior staff cut their teeth in the banks they're now up against — couldn't be coming at a worse time.

Business Maverick: Impact investing could bridge the socialist/capitalist divide

A conference this week examined one of the trickiest issues of our day: why is it proving so difficult to mobilise retirement funds to aid social upliftment? Meanwhile, inequality is rising and threatening to become a political time bomb, environmental crises are increasing, tax revolts are looming, and levels of violent social unrest could become unmanageable. Is there a solution? Cue impact investing. "Inequality and unemployment have become synonymous with South Africa," said Elias Masilela - Director of DNA Economics and a part-time commissioner on the National Planning Commission.

Bouverie back on top in Piesangkloof National Enduro

After a year of sitting on the sideline due to injury, Harding enduro rider Scott Bouverie (Brother Leader Tread KTM) finally experienced the breakthrough that he had been waiting for. The E2 rider stormed to victory at the second round of the National Enduro Championship at Piesangkloof 4×4 Trails on Saturday. At a venue that is designed to test both man and machine, riders faced a rocky terrain that extended into farm lands near Hartbeespoort Dam.

Deep-sea mining boss says new law could be adopted next year

LONDON - China and a quest for battery minerals have injected momentum into a long UN process to agree a law on deep-sea mining, which could be adopted by the end of 2020, if the political will exists, the head of the International Seabed Authority (ISA) said. So far the UN body, headquartered in Jamaica, has drawn up regulations on exploration, but not exploitation for international waters. The priority of talks this year, which took place in March and will be held again in July, is to agree the text of rules on exploitation, although even then it could take years for any mining to take place.

TIMES SELECT TODAY | Cyril told: Mrwebi, Jiba must go | Flood-hit KZN drowns in plastic | Jonathan Jansen

'I burnt the trains,' man tells CT court "I burnt the trains," declared Thobela Xoseni during his first appearance in the Cape Town Magistrate's Court on Wednesday. The 30-year-old from Khayelitsha was arrested after video footage from Cape Town Station, where two train fires occurred simultaneously on Sunday, allegedly showed him exiting one of the trains. After explaining something through a Xhosa translator to his attorney, he declared loudly: "I set the trains on fire, I burnt the trains." Prosecutor Melanie Wells told the court security officers were patrolling the station when they saw smoke coming from trains at platforms 13 and 14.

Opinion: Lessons from Lush — why quitting social is a terrible idea

by Craig Wight. Earlier this month, UK-based cosmetics company, Lush, announced that it was quitting social media . While the reasons it gave for doing so — that it was "tired of fighting with algorithms" and didn't want to "pay to appear" in newsfeeds — will be familiar to anyone who's ever run a corporate social media account, they simply don't warrant such drastic action, in my opinion.

How to plan succession in a small business

One day this business will be yours! Does your small business have a succession plan? Where do you even begin? Ray White (in for Bruce Whitfield on The Money Show) asked Pavlo Phitidis of Aurik Business Accelerator how to "deal make" and plan succession from the founder to the successor through a management buy-out. For a detailed discussion listen to the interview in the audio below. Enjoy The Money Show, but miss it sometimes? Get the best bits emailed to you daily, right after it ends.

Chile to China: Let us be your business hub in Latin America

(Reuters) - Chilean President Sebastian Pinera kicked off an investment forum in China on Thursday with an invitation for the Asian giant to use Chile as a jumping off point to do business in Latin America, even as Washington has warned Chile to proceed with caution. FILE PHOTO: Chile's President Sebastian Pinera and Chinese President Xi Jinping attend the welcome ceremony at the Great Hall of People in Beijing, China April 24, 2019. Kenzaburo Fukuhara/Pool via REUTERS/File Photo Pinera told the forum that Chile's objective was to attract more investment from Chinese companies in technology, electric vehicles, telecommunications, and e-commerce.

BAT ‘is in good shape' and expects higher earnings in 2019

British American Tobacco (BAT) expects "another year of good earnings growth" in 2019, despite mooted regulations in the US and competitive threats, chair Richard Burrows says.   In February, BAT said that excluding currency fluctuations and the 2017 acquisition of Reynolds American, adjusted earnings per share in 2018 rose 11.8%. The group, which makes Lucky Strike, Camel and Dunhill cigarettes, said at the time it expected high-single-digit adjusted constant-currency earnings growth in 2019.

Glencore says probed by U.S. CFTC for "corrupt practices"

April 25 (Reuters) - Glencore Plc said on Thursday the United States Commodity Futures Trading Commission is investigating whether the miner and its units may have violated certain regulations through "corrupt practices" in connection with commodities. (Reporting by Justin George Varghese in Bengaluru; Editing by Maju Samuel) 2019-04-25 19.

Argentina's financial markets rattled as political fears rise

(Adds peso close, analyst comments) By Adam Jourdan and Walter Bianchi BUENOS AIRES, April 25 (Reuters) - Argentine bonds and the country's embattled peso currency fell for a second day on Thursday, cranking up the challenge facing President Mauricio Macri as his drop in the polls ahead of knife-edge elections later this year unnerves investors. The peso ended down 2.48 percent at a record low close of 45.1 per dollar, though off intraday lows, as uncertainty over a biting recession and high inflation frayed nerves about political upheaval in Latin America's No. 3 economy. The peso had fallen over 5 percent earlier in the day after a 3.52 percent drop on Wednesday on signs that Macri's arch rival, populist ex-President Cristina Fernandez de Kirchner, could beat the pro-market leader in an election run-off. "Macri is getting worse and worse (in the polls), while Cristina is getting better and better," said Gabriel Rubinstein, a consultant and former economy ministry official. "There is a crisis of confidence in the government and logically if Cristina becomes the favorite candidate, she generates many fears about her past," he added, referring to policies such as ushering in currency controls. Argentine debt was also pummeled, with bond yields rising sharply, while an index of the Latin American nation's risk has leapt to its highest level in five years, far outstripping other similar emerging markets. Macri's re-election bid is looking increasingly fraught as he struggles to tame annual inflation running above 50 percent and placate a electorate hard-hit by the economic malaise, a volatile peso and rising poverty. "The main factor dragging down asset prices is the renewed fear of having a populist administration next year amid a limited policy toolkit to anchor expectations," said Martin Castellano, head of Latin America research at The Institute of International Fi

Med crude-Urals diffs reach all-time high as quality issue limits supplies

MOSCOW, April 25 (Reuters) - Russian Urals crude oil differentials reached an all-time high on Thursday as concerns over the grade's quality and suspension of pipeline supplies to Poland, Germany and Slovakia fueled demand for remaining ‘unaffected' barrels of the grade. Urals crude oil quality was badly affected by organic chlorides on the ‘Druzhba' pipeline and at Ust-Luga port, which left buyers with a limited supply of ‘normal' Urals loading from the Black Sea's Novorossiisk and Primorsk ports. The quality problem arose last week when an unknown Russian producer contaminated oil with high levels of organic chloride, which is used to boost oil output but must be separated before shipment as it can destroy refining equipment.

Chile to China: Let us be your business hub in Latin America

April 25 (Reuters) - Chilean President Sebastian Pinera kicked off an investment forum in China on Thursday with an invitation for the Asian giant to use Chile as a jumping off point to do business in Latin America, even as Washington has warned Chile to proceed with caution. Pinera told the forum that Chile's objective was to attract more investment from Chinese companies in technology, electric vehicles, telecommunications, and e-commerce. "We want to transform Chile into a business center for Chinese companies, so that you can, from Chile, reach out to all of Latin America," Pinera told Chinese investors at an investment and innovation forum in Beijing, according to a Chilean government statement. The Chilean president's visit to China, the Andean nation's top trading partner, comes just weeks after U.S. Secretary of State Mike Pompeo visited Chile and slammed China's "nefarious" actions and "predatory" lending practices, which critics say leave borrowers beholden to Beijing. China rejected Pompeo's criticisms, calling them "slanderous" and "irresponsible." Pinera has met with several Chinese electric vehicle makers during his week-long visit to Asia, including BYD and Yutong. Chile is one of the world's largest producers of lithium, a key ingredient in electric vehicle batteries. He also met executives from ride-hailing giant Didi Chuxing, which is planning to take on U.S. rival Uber in some of Latin America's fastest-growing markets, including Chile. It was not immediately clear whether Pinera would meet with Chinese telecommunications company Huawei during the visit. Chile has been in talks with Huawei since at least 2017 regarding a possible trans-Pacific fiber optic cable, and other projects. Pompeo earlier this month warned Chile that Chinese technology, including equipment made by Huawei, poses a security risk that could affect information sharing by the United States.

BUSINESS MAVERICK: Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders. That means Agarwal has to act, by either refinancing his stake or raising it.

Shoprite's CEO has taken a R20 million bet on the company with his own money - and so far it's not going his way

Shoprite CEO Pieter Engelbrecht Using his own money, Shoprite's CEO Pieter Engelbrecht bought a large number of contracts for difference worth R20 million. Engelbrecht will coin it if the retailer's share price move higher.  But in the initial stage of this position, Engelbrecht has lost a lot of money.  For more stories, go to Business Insider South Africa . This week, Shoprite's CEO took a massive bet that the company's share price will move higher - but so far he has lost money.  Pieter Engelbrecht bought 11,000 Exchange-Traded Contracts for Difference (eCFDs) on Wednesday and another   104,000 on Thursday .

Jewellery gives platinum biggest bang for marketing buck by far

JOHANNESBURG (miningweekly.com) - Marketing investment in the jewellery sector provides platinum with its biggest, best and quickest return by a long shot, with platinum jewellery accounting for 30% of overall platinum demand and at least half of that demand coming from China. Marketing spend on physical platinum investment promotion is the second-biggest return giver and marketing spend on industrial platinum uses comes in third. Marketing works in platinum jewellery just as well as it does in diamonds, Anglo American Platinum (Amplats) CEO Chris Griffith tells Mining Weekly Online , and ‘A Diamond is Forever' slogan is the most recognised slogan of the twentieth century, according to Advertising Age, with 90% of Americans familiar with it.

Gauteng: Man critical after being struck by lightning.

Gauteng: At 12H41 Thursday afternoon Netcare 911 responded to the 4th Street in Krugersdorp North for a 25-year-old male that had been struck by lightning. Reports from the scene indicate that the man had been cutting grass when lightning started to appear during a thunderstorm. The man with other colleagues sought shelter under a tree when he was struck by lightning.

ABSA BANK LIMITED - Interest Payment Notification - BIABS and ABGI

Wrap Text Interest Payment Notification - BIABS and ABGI ABSA BANK LIMITED (Incorporated with limited liability in South Africa under registration number 1986/004794/06) Bond Issuer Code: BIABS (""Absa") ABSA GROUP LIMITED (formerly known as Barclays Africa Group Limited) (Incorporated with limited liability in South Africa under registration number 1986/003934/06) Bond Issuer Code: ABGI ("ABSA Group" or "ABGI") INTEREST PAYMENT NOTIFICATION Noteholders are advised of the following interest payments and their respective interest payment dates. Interest Amount Interest Payment Date Note ISIN Coupon Rate (ZAR) ACL203 ZAG000102773 14.52% 5,292,700.06 30 April 2019 BGL14 ZAG000140203 11.15% 13,441,095.89 03 May 2019 ASN146 ZAG000135971 9.35% 6,993,287.67 06 May 2019 ASN147 ZAG000135948 9.35% 699,328.77 06 May 2019 BGL11 ZAG000136003 12.43% 12,430,000.00 06 May 2019 BGL03 ZAG000123100 10.65% 44,458,643.84 06 May 2019 BGL10 ZAG000135997 11.15% 852,287.67 06 May 2019 ABFN34 ZAG000156787 8.32% 24,851,726.03 07 May 2019 ABFN35 ZAG000156795 8.5% 15,876,136.99 07 May 2019 ABFN36 ZAG000156803 8.61% 7,033,072.60 07 May 2019 ABFN37 ZAG000156811 8.84% 10,217,102.47 07 May 2019 ABFN15 ZAG000130949 8.6% 6,861,150.68 13 May 2019 ABFN16 ZAG000130964 8.8% 22,356,580.82 13 May 2019 ABS14 ZAG000130931

JSE weaker as global markets retreat

The JSE closed weaker on Thursday on the back of broad-based weakness across most global equity indices. Initial weakness was recorded in mainland China were the Shanghai Composite Index fell 2.19% while in Hong Kong the Hang Seng dropped 0.86%. The Japanese Nikkei managed to eke out gains of 0.48%.

LONMIN PLC - Increased offer , publication Lonmin Scheme circular and publication of Sibanye-Stillwater circular

Release Date: 25/04/2019 15:30 Code(s): LON Wrap Text Increased offer , publication Lonmin Scheme circular and publication of Sibanye-Stillwater circular Lonmin Plc (Incorporated in England and Wales) (Registered in the Republic of South Africa under registration number 1969/000015/10) JSE code: LON Issuer Code: LOLMI & ISIN : GB00BYSRJ698 ("Lonmin") LEI No: 213800FGJZ2WAC6Y2L94 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION THE FOLLOWING ANNOUNCEMENT IS AN AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE NEW SIBANYE-STILLWATER SHARES EXCEPT ON THE BASIS OF THE INFORMATION IN THE LONMIN SCHEME CIRCULAR AND THE SIBANYE-STILLWATER CIRCULAR EACH OF WHICH IS BEING PUBLISHED TODAY THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE 25 April 2019 RECOMMENDED ALL-SHARE OFFER for Lonmin Plc ("Lonmin") by Sibanye Gold Limited (trading as Sibanye-Stillwater) ("Sibanye-Stillwater") to be effected by means of a scheme of arrangement under Part 26 of the UK Companies Act 2006 INCREASED OFFER, PUBLICATION OF LONMIN SCHEME CIRCULAR AND PUBLICATION OF SIBANYE-STILLWATER CIRCULAR BACKGROUND On 14 December 2017, the boards of Sibanye-Stillwater and Lonmin announced that they had reached agreement on the terms of a recommended all-share offer by which Sibanye-Stillwater, and/or a wholly-owned subsidiary of Sibanye-Stillwater, will acquire the entire issued and to be issued ordinary share capital of Lonmin (the "Offer"). Under the terms of the Offer, each Lonmin Shareholder was entitled to receive 0.967 New Sibanye-Stillwater Shares for each Lonmin Share held. It is proposed that the Offer will be effected by means of a scheme of arrangement between Lonmin and the Lonmin Shareholders under Part 26 of the UK Companies Act 2006.

Jewellery gives platinum biggest bang for marketing buck by far

JOHANNESBURG (miningweekly.com) - Marketing investment in the jewellery sector provides platinum with its biggest, best and quickest return by a long shot, with platinum jewellery accounting for 30% of overall platinum demand and at least half of that demand coming from China. Marketing spend on physical platinum investment promotion is the second-biggest return giver and marketing spend on industrial platinum uses comes in third. Marketing works in platinum jewellery just as well as it does in diamonds, Anglo American Platinum (Amplats) CEO Chris Griffith tells Mining Weekly Online , and ‘A Diamond is Forever' slogan is the most recognised slogan of the twentieth century, according to Advertising Age, with 90% of Americans familiar with it.

Life Healthcare shares take beating on JSE

JOHANNESBURG Life Healthcare share price declined by more than 7percent at one stage on the JSE yesterday after the private hospital group flagged a decline in normalised earnings per share for the six months to end March due partly to its agreement to sell its investment in Max Healthcare in India.In a trading update yesterday the group said following the conclusion of an agreement to sell its investment in Max Healthcare Institute it entered into a number of foreign exchange option contracts to mitigate the risk of fluctuations in the randIndian rupee exchange rate until the final closing date of the transaction. The initial option contracts were extended in January to June 2019 and the markedtomarket loss on the option contracts in place for the period to end March amounted to R256million net of taxThis dilutes earnings per share (Eps) and headline earnings per share (Heps) by 17.6c per share the group said. It expected its normalised earnings per share to decline by between 7 and 12percent to be between 47.7cents a share and 50.4c down from last years 54.2c.

BRITISH AMERICAN TOBACCO PLC - Results of Voting at 2019 Annual General Meeting

BTI 201904250069A Results of Voting at 2019 Annual General Meeting British American Tobacco p.l.c. Incorporated in England and Wales (Registration number: 03407696) Short name: BATS Share code: BTI ISIN number: GB0002875804 (‘British American Tobacco p.l.c.' or ‘the Company') BRITISH AMERICAN TOBACCO p.l.c. RESULTS OF VOTING AT 2019 ANNUAL GENERAL MEETING The Annual General Meeting of British American Tobacco p.l.c. was held at Hilton London Bankside, 2-8 Great Suffolk Street, London, SE1 0UG on 25 April 2019 at 11.30am. The tables below set out the results of the poll on each of the total of 20 Resolutions as stated in the Notice of Meeting dated 20 March 2019. Each shareholder, present in person or by proxy, was entitled to one vote per ordinary share of 25p held. Resolution 1 Receipt of 2018 Report and Accounts For - Note (b) 1,755,258,446 Percent of Votes Cast 99.20% Percent of Issued Share Capital 76.52% Against 14,169,779 Percent of Votes Cast 0.80% Percent of Issued Share Capital 0.62% Total Votes Cast (Excl.

Why data-light apps are vital for developing/emerging markets

Elvis Chidera, Nigerian entrepreneur currently working as an engineer at Careem. The developing world is venturing online. Thanks to a surge in smartphones, billions more people are connecting to the internet all over Africa, South America and Asia.

EXCLUSIVE: CT agencies of Hellocomputer, FCB form HelloFCB+

by ( @marklives ) Hellocomputer Cape Town and FCB Cape Town have merged to create a new agency: HelloFCB+. The combined agency provides a full-service offering with a staff count of 90+ people. No jobs are affected.

SIBANYE GOLD LIMITED - Sibanye-Stillwater posts circular and notice of General meeting to shareholders

SGL 201904250058A Sibanye-Stillwater posts circular and notice of General meeting to shareholders Sibanye Gold Limited Trading as Sibanye-Stillwater Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN - ZAE000173951 Issuer code: SGL (‘Sibanye-Stillwater' or ‘the Group' or ‘the Company') Sibanye-Stillwater posts circular and notice of General meeting to shareholders Johannesburg. 25 April 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) refers Sibanye-Stillwater shareholders (‘Shareholders') to the announcement made by Sibanye-Stillwater and Lonmin plc (‘Lonmin') today (25 April 2019) (available, subject to certain restrictions relating to persons in certain restricted jurisdictions, on Sibanye-Stillwater's website at the address noted below), where it was announced that, the Boards of Sibanye-Stillwater and Lonmin have reached agreement on the terms of an increased recommended all-share offer to be made by Sibanye-Stillwater for the entire issued and to be issued share capital of Lonmin (the ‘Increased Offer').

PIC lost billions buying into Steinhoff without following procedure - Dlamini

The PIC spent R9.3 billion in the venture five months before the collapse of the international retailer. | JOHANNESBURG - The Public Investment Corporation's (PIC) acting head of legal Lindiwe Dlamini has testified that the PIC lost billions by buying Steinhoff shares after failing to follow procedure.The PIC spent R9.3 billion in the venture five months before the collapse of the international retailer, resulting in the state fund manager having to write off R4.3 billion of its investment. Dlamini said the PIC failed to do conduct due diligence when it came to the Steinhoff deal it entered into with BEE company Lancaster 101. Dlamini said legal warned the fund manager that it was exposed. "From the security perspective, we're of the view that this exposes the PIC in that the security proposed in that L102 structure is insufficient to cover the PIC's full exposure on the L101 loan.

GLOBAL MARKETS-World stocks slip as growth fears linger; euro...

(Adds U.S. market open, byline, dateline; previous LONDON) * 3M (NYSE:MMM) Co, Nokia results weigh on global equities * Dollar gains against euro on upbeat U.S. capital goods data * Brent crude surges past $75 barrel first time this year * Turkish lira falls after central bank keeps policy tight * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh By Herbert Lash NEW YORK, April 25 (Reuters) - The dollar rose on Thursday, hitting the highest in almost two years against the euro on an upbeat U.S.

INTU PROPERTIES PLC - TR-1: Standard form for notification of major holdings

Wrap Text TR-1: Standard form for notification of major holdings INTU PROPERTIES PLC (Registration number UK3685527) ISIN Code: GB0006834344 JSE Code: ITU LEI: 213800JSNTERD5CJZO95 TR-1: Standard form for notification of major holdings NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word for- mat if possible)I 1a. Identity of the issuer or the underlying is- suer of existing shares to which voting rights Intu Properties Plc are attachedii: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate) Non-UK issuer 2.

Cummins launches THE POWER HUB, its state-of-the-art premises at Waterfall in Midrand, Gauteng as the company celebrates 100

Tom Linebarger, Chairman and CEO of Cummins Inc. cuts the ribbon at the unveiling of the company's state-of-the-art new facility, the Power Hub, in Waterfall City, Johannesburg today. Left to right: Kwame Gyan-Tawiah (Director Africa Middle East Distribution Business Unit Operational Excellence), Thierry Pimi (Executive Managing Director - Africa Middle East ABO), Racheal Njoroge (Managing Director, Cummins Southern Africa), Tom Linebarger (Chairman and CEO of Cummins Inc.), Jill Cook (Chief Human Resources Officer), Tony Satterthwaite (President-Distribution Business) and Mpho Nthane (Cummins Master of Ceremonies).

Government pension fund should invest more in unlisted assets, says head

Government Employee Pension Fund Principal Executive Officer Abel Sithole told reporters on Thursday that the fund, its members and the economy could enjoy untold benefits if the fund broadened its investment portfolio's exposure to unlisted investments. The GEPF is Africa's largest pension fund, with over 1.2m active members and more than 400 000 pensioners and beneficiaries. The GEPF's investment portfolio currently stands at R1.8trn.

Labour department intends to deregister AMCU; has 60 days to respond

(Bloomberg) -  South Africa's Labour Department said it intends to deregister one of the country's biggest and most aggressive mining unions, just weeks before crucial platinum-industry wage talks are expected to begin. A relative upstart compared with the more-established National Union of Mineworkers, the Association of Mineworkers and Construction Union has shaken up the country's mining industry over the past decade. It gained prominence in a dispute at Lonmin Plc that culminated in police massacring 34 people at a protest in 2012, after which it took on increasing influence and membership, later leading a five-month industry-wide platinum strike.

PIC Lost Billions Over Steinhoff Investment Without Following Procedures: Dlamini

The Public Investment Corporation's (PIC) acting head of legal Lindiwe Dlamini has testified that the PIC lost billions by buying Steinhoff shares after failing to follow procedure. The PIC spent R9.3 billion in the venture five months before the collapse of the international retailer, resulting in the state fund manager having to write off R4.3 billion of its investment.  Dlamini said the PIC failed to do conduct due diligence when it came to the Steinhoff deal it entered into with BEE company Lancaster 101. Dlamini said legal warned the fund manager that it was exposed.

Nursing - gap becoming too big for the future

By Reon Janse van Rensburg The provision of good healthcare services is largely dependent on the labour force in the health sector in terms of the numbers, quality of the skills the workers possess, how and where they work, as well as the management and deployment of the medical services, equipment and staff. Students - the future One of the biggest challenges in the nursing industry in South Africa is the shortage of nursing staff. According to the Health Department, a shortage of more than 44 700 nursing staff was already experienced as far back as in 2010, and in 2016 there was a shortage of 44 780 professional nurses while only 3 595 students enrolled for the degree course.

LONMIN PLC - Increased offer publication Lonmin Scheme circular and publication of Sibanye-Stillwater circular

LON 201904250057A Increased offer , publication Lonmin Scheme circular and publication of Sibanye-Stillwater circular Lonmin Plc (Incorporated in England and Wales) (Registered in the Republic of South Africa under registration number 1969/000015/10) JSE code: LON Issuer Code: LOLMI & ISIN : GB00BYSRJ698 (‘Lonmin') LEI No: 213800FGJZ2WAC6Y2L94 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION THE FOLLOWING ANNOUNCEMENT IS AN AND NOT A PROSPECTUS OR PROSPECTUS EQUIVALENT DOCUMENT AND INVESTORS SHOULD NOT MAKE ANY INVESTMENT DECISION IN RELATION TO THE NEW SIBANYE-STILLWATER SHARES EXCEPT ON THE BASIS OF THE INFORMATION IN THE LONMIN SCHEME CIRCULAR AND THE SIBANYE-STILLWATER CIRCULAR EACH OF WHICH IS BEING PUBLISHED TODAY THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE 25 April 2019 RECOMMENDED ALL-SHARE OFFER for Lonmin Plc (‘Lonmin') by Sibanye Gold Limited (trading as Sibanye-Stillwater) (‘Sibanye-Stillwater') to be effected by means of a scheme of arrangement under Part 26 of the UK Companies Act 2006 INCREASED OFFER, PUBLICATION OF LONMIN SCHEME CIRCULAR AND PUBLICATION OF SIBANYE-STILLWATER CIRCULAR BACKGROUND On 14 December 2017, the boards of Sibanye-Stillwater and Lonmin announced that they had reached agreement on the terms of a recommended all-share offer by which Sibanye-Stillwater, and/or a wholly-owned subsidiary of Sibanye-Stillwater, will acquire the entire issued and to be issued ordinary share capital of Lonmin (the ‘Offer'). Under the terms of the Offer, each Lonmin Shareholder was entitled to receive 0.967 New Sibanye-Stillwater Shares for each Lonmin Share held. It is proposed that the Offer will be effected by means of a scheme of arrangement between Lonmin and the Lonmin Shareholders under Part 26 of the UK Companies Act 2006. THE INCREASED OFFER Revised Exchange Ratio The boards of

Daily News Brief

Soshanguve Boy (9) Who Lost His Life Saving Friend Honoured By Ramaphosa Nine-year-old Thapelo Tambeni from Soshanguve, who saved his friend from drowning but lost his own life in the process, has been honoured posthumously with the Order of Mendi for bravery by President Cyril Ramaphosa. Honouring Tambeni, President Ramaphosa wished his family strength, saying he was among the bravest of the brave. KZN Floods Death Toll Rises To 70 The KwaZulu-Natal government has confirmed that the death toll resulting from recent floods has now risen to 70 .

Is your small business using technology to help it grow?

If you're a small business, the likelihood of you wanting to stay that way is slim. That said growth is hard to come by, especially as disruption has become the new norm for many in the industry, and the lack of a disruptive or innovative plan being in place, often does not bode well for success. It's something that Dell EMC's South African GM, Doug Woolley, is acutely aware of, with him adding that an understanding of key technology trends and the implementation thereof are vital if any small business wants to grow, or suffer the fate of being left behind.

Business News - 24 April 2019

Consumer confidence tumbles in the first quarter, Vodacom and MTN stand accused of exploiting the poor and Capitec lifts PSG Group's annual performance..

BRITISH AMERICAN TOBACCO PLC - Results of Voting at 2019 Annual General Meeting

Wrap Text Results of Voting at 2019 Annual General Meeting British American Tobacco p.l.c. Incorporated in England and Wales (Registration number: 03407696) Short name: BATS Share code: BTI ISIN number: GB0002875804 ("British American Tobacco p.l.c." or "the Company") BRITISH AMERICAN TOBACCO p.l.c. RESULTS OF VOTING AT 2019 ANNUAL GENERAL MEETING The Annual General Meeting of British American Tobacco p.l.c. was held at Hilton London Bankside, 2-8 Great Suffolk Street, London, SE1 0UG on 25 April 2019 at 11.30am. The tables below set out the results of the poll on each of the total of 20 Resolutions as stated in the Notice of Meeting dated 20 March 2019. Each shareholder, present in person or by proxy, was entitled to one vote per ordinary share of 25p held. Resolution 1 Receipt of 2018 Report and Accounts For - Note (b) 1,755,258,446 Percent of Votes Cast 99.20% Percent of Issued Share Capital 76.52% Against 14,169,779 Percent of Votes Cast 0.80% Percent of Issued Share Capital 0.62% Total Votes Cast (Excl.

BUSINESS MAVERICK: With a few exceptions, corporate SA has ditched the idea of funding political parties

With a great flourish, SA's political parties rushed through Parliament the Political Party Funding Act just prior to the start of the 2019 election campaign. It was transparently an attempt to look squeaky clean in a campaign sure to be dominated by the issue of corruption. Then the implementation of the legislation was delayed by the Electoral Commission of South Africa.

Business Uganda will be supplying cannabis to these countries by June

Uganda will be selling marijuana to North America and Europe later this year in deals worth $160 million. This comes after the government reached agreements to export the product for medicinal purposes. Presently, there are orders for the psychoactive drug from at least 20,000 pharmacies in Canada and Germany, a Director at Industrial Hemp (U) Ltd in Uganda, which is in partnership with Israeli firm Together Pharma Ltd, Benjamin Cadet said. "We signed annual supply contracts with pharmacies in Canada to a tune of $100m and €58m for Germany… the current contracts run for 10 years but along the way, we shall expand to satisfy future demand," Cadet revealed.

Business News - 24 April 2019

Consumer confidence tumbles in the first quarter, Vodacom and MTN stand accused of exploiting the poor and Capitec lifts PSG Group's annual performance..

Understaffed PIC not equipped for due diligence, says senior lawyer

Commercial decisions often taken without guidance, leaving it open to legal risks, commission told The Public Investment Corporation is understaffed and sometimes fails to guard against legal risks when new investments are made, the asset manager's acting head of legal counsel, governance and compliance said on Thursday. The head of legal services Lindiwe Dlamini said there was a significant risk for the PIC as the legal team was inundated with not just transactions but also corporate legal matters such as compliance and labour matters. She said the institution often has to rely on external legal advisers. "The PIC in the normal course of the business is generating transactions the size of other asset managers in this space. But unfortunately from a capacity point of view we are finding ourselves lagging seriously in that we are entrusting all these transactions to effectively two personnel," she said. The legal department helps the PIC investment team conduct legal due diligence, which includes identifying any legal risks of pending transactions.

BUSINESS MAVERICK: Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders. That means Agarwal has to act, by either refinancing his stake or raising it.

Survé barking up the wrong tree with questions about AYO, says govt pension fund boss

The Government Employee Pension Fund had no reason to update Sekunjalo executive chair Iqbal Survé about the manner in which the Public Investment Corporation handled its controversial investment into AYO Technology Solutions, head of the fund Abel Sithole told Fin24 on Thursday. Sithole, who is the GEPF's Principal Executive Officer, was responding to a question regarding Surve's evidence before the commission of inquiry into the PIC and its governance. The commission is investigating allegations of wrongdoing at the PIC, which manages R2.2trn in investments on behalf of public servants.

PIC funded Lancaster to buy shares in Steinhoff: Dlamini

The PIC's Acting Head of Legal Lindiwe Dlamini took the stand at the PIC Commission of Inquiry testifying about the Steinhoff transaction. In 2016, the PIC funded Jayendra Naidoo's company Lancaster to buy shares in Steinhoff. The loan was for R9.4 billion to buy a 2.75% stake in the company.

PIC Lost Billions Over Steinhoff Investment Without Following Procedures: Dlamini

The Public Investment Corporation's (PIC) acting head of legal Lindiwe Dlamini has testified that the PIC lost billions by buying Steinhoff shares after failing to follow procedure. The PIC spent R9.3 billion in the venture five months before the collapse of the international retailer, resulting in the state fund manager having to write off R4.3 billion of its investment. Dlamini said the PIC failed to do conduct due diligence when it came to the Steinhoff deal it entered into with BEE company Lancaster 101. Dlamini said legal warned the fund manager that it was exposed. "From the security perspective, we're of the view that this exposes the PIC in that the security proposed in that L102 structure is insufficient to cover the PIC's full exposure on the L101 loan. To mitigate this risk, the PIC intends to negotiate a share hold and upside participation in R102 for the risk taken as a result of subordinating the PIC security in L101." EWN The post appeared first on iAfrica.com..

GLOBAL MARKETS-World stocks slip as growth fears linger; euro slides

(Adds U.S. market open, byline, dateline; previous LONDON) * 3M Co, Nokia results weigh on global equities * Dollar gains against euro on upbeat U.S. capital goods data * Brent crude surges past $75 barrel first time this year * Turkish lira falls after central bank keeps policy tight * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Herbert Lash NEW YORK, April 25 (Reuters) - The dollar rose on Thursday, hitting the highest in almost two years against the euro on an upbeat U.S.

SIBANYE GOLD LIMITED - Sibanye-Stillwater posts circular and notice of General meeting to shareholders

Sibanye-Stillwater posts circular and notice of General meeting to shareholders Sibanye Gold Limited Trading as Sibanye-Stillwater Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN - ZAE000173951 Issuer code: SGL ("Sibanye-Stillwater" or "the Group" or "the Company") Sibanye-Stillwater posts circular and notice of General meeting to shareholders Johannesburg. 25 April 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) refers Sibanye-Stillwater shareholders ("Shareholders") to the announcement made by Sibanye-Stillwater and Lonmin plc ("Lonmin") today (25 April 2019) (available, subject to certain restrictions relating to persons in certain restricted jurisdictions, on Sibanye-Stillwater's website at the address noted below), where it was announced that, the Boards of Sibanye-Stillwater and Lonmin have reached agreement on the terms of an increased recommended all-share offer to be made by Sibanye-Stillwater for the entire issued and to be issued share capital of Lonmin (the "Increased Offer").

Glory days to failed merger: Deutsche-Commerzbank's 150 year history

(Bloomberg) -  Deutsche Bank AG and Commerzbank AG have ended talks on a tie-up that would have combined the two largest publicly traded banks in Germany. The lenders - both based in Frankfurt and 150 next year - were set up to support German companies trading around Europe and beyond. The German government still views that role as crucial and favoured a merger.

Alexander Forbes leaps more than 15% on insurance unit ...

On Tuesday, insurer King Price said it was willing to offer up to R2bn for Alexander Forbes's short-term insurance business alone Shares in Alexander Forbes jumped as much as 15.1% to R6.11 on Thursday morning — the best level since June 2018 — following news that it could fetch at least R2bn from the sale of its short-term insurance business. The financial services group, which has a market capitalisation of about R8bn, said in March it planned to sell its insurance businesses amid a shift in strategy towards an "advice-led and capital-light model". The pension fund administrator said at the time it would look for a buyer for its group risk, retail life and short-term insurance units. On Tuesday, insurer King Price said it was willing to offer up to R2bn for Alexander Forbes's short-term insurance business alone. The mooted deal would double King Price's existing business, said CEO Gideon Galloway. Galloway said that since King Price only played in the short-term market, the businesses were a "perfect fit". At 11.38am on Thursday, Alexander Forbes's shares were at R6.05, a 13.9% increase on the day. Gryphon Asset Management portfolio manager Casparus Treurnicht said the share was probably reacting to the announcement by King Price. Alexander Forbes's insurance businesses generated R1.3bn in revenue in the six months ended September 2018, versus total revenue of R3.4bn. The group said in March it would return surplus capital to shareholders "taking cognisance of potential investment opportunities that lie ahead". Alexander Forbes said at the time it wanted to grow its consulting, administration and investments businesses by acquiring a "similar focused employee benefit business that supports our strategy". Group CEO Dawie de Villiers said the group's strategic review of its businesses would "accelerate the competitive position we already occupy in our core business of consulting, administration and investments". hedleyn@businesslive.co.za.

EMERGING MARKETS-Emerging market currencies dip, Turkish lira drops before rate decision

* Turkish lira softens ahead of central bank rate decision * Shanghai Composite, South Korean stocks slip * Higher oil prices fail to support Russian stocks, rouble By Aaron Saldanha April 25 (Reuters) - Emerging market currencies fell against the dollar on Thursday, with Turkey's lira in focus ahead of a central bank rate decision, while stocks dipped on disappointing South Korean data and warnings on Chinese economic growth. Data showed the South Korean economy unexpectedly contracted in the first quarter, while Chinese officials warned of protracted pressure on growth, even as the outlook for a resolution to its trade war with the United States improves. emerging market stocks index .MSCIEF was 0.9 percent lower on its worst day in a month. The Shanghai Composite .SSEC tumbled 2.4 percent to a more than three-week closing low, while South Korean stocks .KS11 shed half a percent. .SS KRW/Turkey's lira TRY= hit a more than half-year low, before regaining some lost ground.

Ellery puts Australian business into liquidation

Australian designer Kym Ellery is winding up her Australian business after struggling to cope with high manufacturing costs and the country's isolation from the international fashion scene. Ellery The womenswear label, one of Australia's most successful fashion brands, closed its two Sydney stores last week, making 22 staff redundant. Its Elleryland headquarters in Chippendale have also closed.

NASPERS DONATES R1M TO KZN FLOODS!

Multinational media group Naspers [JSE:NPN] has donated R1m in support of disaster relief and recovery efforts in KwaZulu-Natal, the group's Chief People Officer (CPO) Aileen O'Toole announced on Wednesday. Areas in KwaZulu-Natal were severely affected and as many as 70 people had died as of Thursday, after heavy rains and flooding rocked the province. Others have been left injured and displaced.  The extent of damage to infrastructure includes flooded and blocked roads, collapsed buildings and perimeter walls, blocked storm water drains and sewer lines, flooded buildings and households, and power outages as a result of electric cable damage.

GEPF funding levels weakening

GEPF shortfall could be addressed by increasing the level of employer contributions, which are below the required contribution rate, says executive officer. Government Employee Pension Fund (GEPF) principal executive officer Abel Sithole began a round table briefing to address concerns about the organisation's financial soundness saying: "The good news is that the GEPF is fine, thank you very much," a phrase he used often. It was not, however, all good news. Although Sithole spent some hours explaining that the GEPF remained fundamentally sound, there is evidence of a weakening trend in funding levels. His remarks follow an actuarial valuation report by Alexander Forbes showing that the GEPF's minimum funding level (assets to cover liabilities) reduced to 108.3% at end-March 2018 from 115.8% at end-March 2016, still well above the required rate of 90%, beyond which trustees need to take action.

The business of downing drones

Just shoot them down? After troublesome drones infiltrated London's Gatwick airport late last year, disrupting passenger flights and costing potentially millions of pounds in revenue, that was the instinctive question posed by the watching world. But for some businesses, shooting them down is a dangerous and unfeasible answer. They're starting to tout better ideas: firing a net, jamming the drone, using a bigger drone to scoop it up. These companies are part of an emerging industry offering myriad solutions, all hoping to solve the problems caused when drones fly where they're not supposed to fly. The U.S.

Child slaves rescued from West African markets

Police rescued 216 human trafficking victims, mainly children, from forced labour and prostitution in a major operation in Benin and Nigeria according to Interpol. Operation Epervier II involved 100 police officers across two countries who rescued 157 child slaves, said the global police organisation, which co-ordinated the April raids. Many children were working in markets peddling goods, carrying heavy loads or fetching water, while others worked as housemaids or were forced into prostitution, Interpol said.

MERAFE RESOURCES LIMITED - Production report for the first quarter ended 31 March 2019

Wrap Text Production report for the first quarter ended 31 March 2019 MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06) Share Code: MRF ISIN: ZAE000060000 ("Merafe" or the "Company") Production report for the first quarter ended 31 March 2019 Merafe's attributable ferrochrome production from the Glencore Merafe Chrome Venture for the first quarter ended 31 March 2019 decreased by 1% compared to the quarter ended 31 March 2018. First quarter First quarter ended ended 31 March 2019 31 March 2018 Attributable ferrochrome production (kt) 104 105 Sandton 25 April 2019 Sponsor One Capital Date: 25/04/2019 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Kim Jong-un and Vladimir Putin get down to business in Russia

Vladivostok — North Korean leader Kim Jong-un met Russian President Vladimir Putin on Thursday at a summit designed to show that Washington is not the only power able to set the agenda on Pyongyang's nuclear programme. The two men embarked on a day of talks on an island off the Russian Pacific city of Vladivostok two months after Kim's summit with US President Donald Trump ended in disagreement, cooling hopes of a breakthrough in the decades-old nuclear row. Putin and Kim, in their first face-to-face encounter, smiled broadly and shook hands outside the summit venue, a university campus. They then stood side by side on an escalator, chatting with help from interpreters, as they made their way to an upper floor to begin their talks. In brief opening remarks in front of the media, Putin said he hoped Kim's visit would "help us better understand by what means we can reach a settlement on the Korean peninsula, what we can do together, what Russia can do to support the positive processes now under way". "Without question, we welcome your efforts to develop dialogue between the Koreas, and to normalise North Korean-US relations," Putin said. Kim, who had arrived in Vladivostok a day earlier on board his armoured train, told Putin the meeting would help strengthen and develop ties between Russia and North Korea, which share a long history of friendship. "As world attention is focused on the Korean Peninsula, there will be very meaningful dialogue for us to jointly assess the Korean Peninsula policies and share, co-ordinate and study our views," Kim said. The summit in Vladivostok provides Pyongyang with an opportunity to seek support from a new quarter, Russia, and possible relief from the sanctions hurting its economy. For the Kremlin, the summit is a chance to show it is a global diplomatic player, despite efforts by the US and other western states to isolate it. But with Moscow committed to upholding sanctions until the North dismantles its nuclear programme, analysts said the summit was unl

Amplats says total PGM production down 6% in first quarter

Mining company Amplats said on Thursday its total platinum group metals (PGM) production fell by 6% to 998,900 ounces in the first quarter of 2019, due in part to as well as disruptions to power supply from state-owned utility Eskom. In its latest quarterly update, Anglo American Platinum said it remained committed to the elimination of fatalities and reported zero fatalities for the first three months of the year. Platinum output was down 5% to 471,900 ounces while palladium dropped 6% to 326,600 ounces.

ANGLO AMERICAN PLC - Production Report for the first quarter ended 31 March 2019

AGL 201904250014A Production Report for the first quarter ended 31 March 2019 Anglo American plc (the ‘Company') Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 25 April 2019 Anglo American plc Production Report for the first quarter ended 31 March 2019 Mark Cutifani, Chief Executive of Anglo American, said: ‘Production is 6%(1) lower in the quarter, with two planned longwall moves at Metallurgical Coal accounting for 80% of the reduction. Isolated production issues at Venetia (De Beers), Kumba Iron Ore and Platinum Group Metals made up the balance, mitigated by stronger operational performance from Copper, with a 4% production increase, and the ramp-up at Minas-Rio, which is ahead of plan following the restart of operations in December 2018. By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged.' Highlights - De Beers' diamond production decreased by 8% to 7.9 million carats driven by lower production at Venetia as it transitions from open pit to underground. - Copper production increased by 4% to 161,100 tonnes due to strong plant performance and planned higher grades. - Platinum and palladium production decreased by 5%(2) to 471,900 ounces and by 6%(2) to 326,600 ounces, respectively, due to operational challenges as well as one-off benefits in Q1 2018. - Kumba's iron ore production decreased by 12% to 9.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production increased by 61% as its ramp-up progresses well, facilitated by access to higher grade ore in the Step 3 licence area. - Metallurgical coal production decreased by 25% to 4.2 million tonnes with two longwall moves in the period compared to only one in Q1 2018. - Thermal coal export production decreased by 2% to 6.6 mill

Freedom Day in South Africa - a reminder of unfinished business

Henning Melber , University of Pretoria South Africans celebrate Freedom Day on April 27 every year to mark the country's first democratic elections in 1994. A quarter of a century later, though, questions remain: how much and whose freedom is to be celebrated? The differing answers among voters might affect the results of the national elections on 8 May . South Africans can still not celebrate freedom from want.

Sainsbury's leads FTSE 100 lower, housebuilders hit by Taylor Wimpey warning

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 down 0.7 pct * FTSE 250 down 0.5 pct * Housebuilders dive after Taylor Wimpey's margin warning* Sainsbury's slumps after ditching Asda takeover* Carpetright sky-rockets on upbeat Q4 April 25 (Reuters) - British shares were in the red on Thursday as Sainsbury's shares soured after the company scrapped its proposed takeover of Walmart's Asda while Taylor Wimpey's warning on margins whacked housebuilders across the board. The FTSE 100 .FTSE lost 0.7 percent and the FTSE 250 .FTMC down 0.5 percent by 0730 GMT. Taylor Wimpey TW.L shed 6.6 percent after it warned full-year margins would be slightly lower than last year as it cost more to build homes. blue-chip housebuilders slipped after the update from Britain's third-largest homebuilder.

Anglo American copper output rises, ramps up Minas-Rio iron ore mine

(Adds details, CEO quote, background) April 25 (Reuters) - Anglo American Plc said on Thursday copper production rose in the first quarter, while output from Minas-Rio iron ore mine in Brazil soared as it ramped it up after resuming operations late last year. Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the diversified miner with an over century-old history said. Minas-Rio iron ore production jumped 61 percent. A renewed demand for copper, a metal that has a major role to play in automobiles and related industries, partly aided Anglo American in outperforming its major peers last year. But the blue-chip miner said total output slipped by 6 percent during the quarter, partly hurt by production issues at Venetia diamond mine, Kumba Iron Ore and Platinum Group Metals. The fall in total output was cushioned by stronger operational performance from copper, said Chief Executive Officer Mark Cutifani. He added that the ramp-up at Minas-Rio iron ore mine in Brazil was ahead of plan following its resumption in December after months of closure. Anglo American said in December it had received regulatory approval to step up production and cut costs at the mine. It then also hiked production target for 2019. On Thursday, the company stood by that guidance. "By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged," Cutifani said in a statement. Its smaller peer Antofagasta posted a 22.6 percent jump in first-quarter copper production this week, bolstered by better quality ore. Shares of the FTSE 100 constituent, which have jumped nearly 20 percent this year, were expected to open 1 percent higher. (Reporting by Muvija M in Bengaluru and Barbara Lewis in London; editing by Gopakumar Warrier) First Published: 2019-04-

UPDATE 1-UK Stocks-Factors to watch on April 25

(Adds company news items and futures) April 25 (Reuters) - Britain's FTSE 100 index is seen opening 6 points higher at 7,477 on Thursday, according to financial bookmakers, while FTSE 100 futures were up 0.22 percent ahead of the cash market open. * MEGGITT: British engineering company Meggitt Plc reported organic revenue growth of 9 percent in the first quarter, but warned it would face tougher comparisons for the rest of 2019 and the potential for air traffic growth to moderate. * KAZ MINERALS: Kaz Minerals said on Thursday its first-quarter copper production rose 4 percent, boosted by robust volumes at its Aktogay mine, while higher output was expected for the rest of the year.

Resources Watch

Welcome to Creamer Media's , a weekly video round-up of the events and people making and shaping the news in the mining industry. This week: Kumba hands over Siyathemba youth centre, parks to community And, Orion clinches potent new-style empowerment deal Kumba Iron Ore has officially handed over 17 parks, as well as the Siyathemba Youth Centre, to the community of Siyathemba, near Kathu. Kumba Iron Ore CEO Themba Mkhwanazi: Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution.

Now trade unions are interfering in the business of the PIC

PIC company secretary Bongani Mathebula told the commission how trade unions lobbied the PIC to invest in Iqbal Survé's Sagarmatha. Labour unions which received large stakes in Survé linked Ayo Technology Solutions through a discounted B-BBEE consortium deal tried to influence the Public Investment Corporation's (PIC) decision to invest in another company connected to the Cape Town businessman. On Wednesday, recently reinstated company secretary Bongani Mathebula told the judicial inquiry looking into issues of impropriety at the state asset manager that various political formations and unions had sent emails to the PIC in which they tried to lobby it to invest in Iqbal Survé's Sagarmatha Technologies. Mathebula said they had received letters from the Police and Prisons Civil Rights Union's (Popcru's) investment arm PGC, the Federation of Unions of SA (Fedusa) and Cosatu's Kopano ke Matla. When asked who these parties were Mathebula disclosed that Fedusa's letter was signed by suspended secretary general Dennis George, Cosatu's letter was signed by the CE of Kopano, Steven Thebedi and PGC head In addition, Survé had also sent an email to former PIC CEO Dan Matjila with an attachment of the Cosatu letter said Mathebula. A statement was also received from the Economic Freedom Fighters. Matjila facilitates union interference She said on the eve of investment committee meeting which was considering the transaction Matjila had requested that she forward these emails to the committee to try and show support for the investment in Sagarmatha.

UPDATE 1-Anglo American copper output rises, ramps up Minas-Rio iron ore mine

(Adds details, CEO quote, background) April 25 (Reuters) - Anglo American Plc AAL.L said on Thursday copper production rose in the first quarter, while output from Minas-Rio iron ore mine in Brazil soared as it ramped it up after resuming operations late last year. Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the diversified miner with an over century-old history said. Minas-Rio iron ore production jumped 61 percent. A renewed demand for copper, a metal that has a major role to play in automobiles and related industries, partly aided Anglo American in outperforming its major peers last year. But the blue-chip miner said total output slipped by 6 percent during the quarter, partly hurt by production issues at Venetia diamond mine, Kumba Iron Ore KIOJ.J and Platinum Group Metals PTM.TO . The fall in total output was cushioned by stronger operational performance from copper, said Chief Executive Officer Mark Cutifani. He added that the ramp-up at Minas-Rio iron ore mine in Brazil was ahead of plan following its resumption in December after months of closure. Anglo American said in December it had received regulatory approval to step up production and cut costs at the mine. It then also hiked production target for 2019. On Thursday, the company stood by that guidance. "By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged," Cutifani said in a statement.Its smaller peer Antofagasta ANTO.L posted a 22.6 percent jump in first-quarter copper production this week, bolstered by better quality ore. Shares of the FTSE 100 constituent, which have jumped nearly 20 percent this year, were expected to open 1 percent higher..

Medical scheme cover vs health insurance: How to save costs

Retrenchments, high-cost plans causing people to switch to more affordable plans. In tough economic times you have to look for ways to cut your costs. You may be able to save costs on your medical scheme cover, but you need to be careful how you do.

Amplats says total PGM production down 6% in first quarter

JOHANNESBURG  Mining company Amplats said on Thursday its total platinum group metals (PGM) production fell by six percent to 998900 ounces in the first quarter of 2019 due in part to disruptions to power supply from stateowned utility Eskom.It its latest quarterly update Anglo American Platinum said it remained committed to the elimination of fatalities and reported zero fatalities for the first three months of the year.Platinum output was down five percent to 471900 ounces while palladium dropped six percent to 326600 ounces."Production was also lower in the quarter due to the oneoff benefit of additional ore stockpile which increased production at Mototolo and Unki in Q1 2018 as well as Eskom power disruptions and operational challenges across the portfolio in the quarter" the company said.Total PGM production from own managed mines increased four percent to 601000 ounces due to the inclusion of Mototolo production as ownmine production.Mogalakwena PGM production however fell six percent to 307200 ounces largely due to Eskom power disruptions as well as lower concentrator recoveries partly offset by an increase in grade.Production at Unki in Zimbabwe decreased by five percent largely because of additional first quarter 2018 production mined from ore stockpiles. Normalising for this impact production at Unki was flat.Amplats said PGM output excluding tolling material from SibanyeStillwater was seen at 4.2 4.5 million ounces for 2019 including platinum production of between 2.0 2.1 million ounces and palladium production guidance of between 1.3 1.4 million ounces."Production guidance is down on 2018 due to the transition of SibanyeStillwater material to a tolling arrangement in place of its concentrate previously purchased by Anglo American Platinum" it said. African News Agency (ANA) .

LIVESTREAM: Inquiry to hear from PIC executives

PRETORIA - The Public Investment Corporation inquiry will continue to hear from PIC executives, as it continues to investigate the investments the company was involved in. The PIC's company secretary Bongani Mathebula has heavily implicated then CEO Dan Matjila. Mathebula says he was adamant on getting the Ayo deal signed, despite the fact that proper processes were not followed.

EMERGING MARKETS-Emerging market currencies dip, Turkish lira drops before rate decision

* Turkish lira softens ahead of central bank rate decision * Shanghai Composite, South Korean stocks slip * Higher oil prices fail to support Russian stocks, rouble By Aaron Saldanha April 25 (Reuters) - Emerging market currencies fell against the dollar on Thursday, with Turkey's lira in focus ahead of a central bank rate decision, while stocks dipped on disappointing South Korean data and warnings on Chinese economic growth. Data showed the South Korean economy unexpectedly contracted in the first quarter, while Chinese officials warned of protracted pressure on growth, even as the outlook for a resolution to its trade war with the United States improves. MSCI's emerging market stocks index was 0.9 percent lower on its worst day in a month.

Rules on exploiting minerals on sea bed possible by end-2020, says UN body

RULES on exploiting minerals locked in the seabed could be agreed by the end of 2020, said Reuters citing an official from the United Nations organisation, International Seabed Authority, secretary-general Michael Lodge . For this to happen there would have to be political will for it whilst objections from environmentalists and even from countries with vested interests in land mining could also throw a spanner in the works, said Lodge. "As late as last year, countries reaffirmed the target of 2020," Lodge told Reuters.

How digital hospitality can be utilised to transform guest experiences in Africa

As hospitality providers across the globe embrace digital transformation, the question arises; what do intelligent hotels offer? From guestroom automation to location-based interactions, mobile engagement, hyper-personalisation, APIs and integration - Is customer service excellence possible? Is Africa ready for the "digital hotel"? " data-lazyauto="true"> ©Aleksandr Davydov via 123RF Imagine this scenario: A housekeeper notices that the air conditioner is not working while servicing a guest's room. The fault is immediately logged on a mobile device and a job card raised, maintenance instantly receives an alert and dispatches someone to service the unit. " data-lazyauto="true"> Tapping into data for enhanced tourism experiences Large tourism enterprises across the globe are snapping up apps, business solutions and more to ensure that they're part of the digital revolution, but are these emerging technologies translating to an excellent visitor experience? By Wynand Smit 2 Aug 2018 Meanwhile, location services pick up that the guest is on his/her way back up to the room from the pool.

Naspers donates R1m for KZN flood recovery efforts

Multinational media group Naspers [JSE:NPN] has donated R1m in support of disaster relief and recovery efforts in KwaZulu-Natal, the group's Chief People Officer (CPO) Aileen O'Toole announced on Wednesday. Areas in KwaZulu-Natal were severely affected and as many as 70 people had died as of Thursday, after heavy rains and flooding rocked the province. Others have been left injured and displaced.  The extent of damage to infrastructure includes flooded and blocked roads, collapsed buildings and perimeter walls, blocked storm water drains and sewer lines, flooded buildings and households, and power outages as a result of electric cable damage.

KwaZulu-Natal: Body burnt beyond recognition in M41 crash.

KwaZulu-Natal: At 23H13 Wednesday night Netcare 911 responded to reports of a collision on the M4 North bound just passed the M41 offramp between La Lucia and Umhlanga Rocks. Reports from the scene indicate that a the driver of a light motor vehicle lost control crashing into a bridge pillar. When paramedics arrived on scene the vehicle was completely engulfed in flames. The Ethekwini Fire and Rescue Services had doused the flames and on closer inspection a body was found burnt beyond recognition in the driver's seat. Circumstances leading up to the collision will be investigated by the Durban North SAPS who were on scene. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

Business called to lead transformation in fishing industry

Agriculture, Forestry and Fisheries (DAFF) Minister, Senzeni Zokwana, has urged all players in the fishing industry to come to the party to ensure that the sector's transformation agenda is realised during the 2020 Fishing Rights Allocation Process (FRAP2020). " data-lazyauto="true"> ©Werner Lehmann via 123RF "Substantive transformation in the fishing industry still remains a challenge and it needs all of us to work together to achieve such needed transformation in this sector. When we talk transformation in the fishing industry, we need to be honest in our discussions in order for government to adequately deliver and achieve on this imperative," said Zokwana.

Shaping The Future - How Traditional Supply Chain Management Structures Are Being Replaced With Proactive New Models

While technology has been the much-hyped driver of radical change within global supply chains for several years, a new way of thinking about logistics solutions will arguably shape the industry in a profound way in 2019 By Tyrone Rennie, Business Solutions Development & Marketing, Barloworld Logistics With businesses under economic duress in South Africa, savvy supply chain specialists are taking a proactive approach to logistics management, as opposed to waiting for the problems to come to them. Tyrone Rennie, from Business Solutions Development & Marketing at Barloworld Logistics says that smart logistics is becoming more about finding a ‘business fit' rather than solutions fit. "Looking ahead, it's clear that embracing technology is a given, and no longer a differentiator.

TIGER BRANDS LIMITED - Acquisition of securities by First State Investment Management (UK) Limited

TBS 201904250031A Acquisition of securities by First State Investment Management (UK) Limited TIGER BRANDS LIMITED ‘Tiger Brands' or ‘the Company' (Incorporated in the Republic of South Africa) (Registration number 1994/017881/06) Share code: TBS ISIN: ZAE000071080 ACQUISITION OF SECURITIES BY FIRST STATE INVESTMENT MANAGEMENT (UK) LIMITED In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Tiger Brands has received formal notification that First State Investment Management (UK) Limited (First State Investment) has acquired an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by First State Investment now amounts to 5.02% of the total issued ordinary shares of the Company. Bryanston 25 April 2019 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 25/04/2019 10:42:00 Produced by the JSE SENS Department.

UPDATE 1-Germany, Poland halt oil imports via Russian pipeline over quality concerns

(Recasts, adds background) MOSCOW, April 25 (Reuters) - Major Russian oil buyers Poland and Germany have suspended imports of Russian crude via a major pipeline, citing poor quality. The development could starve refineries belonging to Poland's PKN Orlen as well as German plants belonging to Total, Shell, BP and Rosneft of the lion's share of their imports which usually come via the Druzhba (Friendship) pipeline built by the Soviet Union. The very rare suspension of oil flows could also trigger a flurry of legal claims by western buyers against Russian suppliers who will in turn seek compensation from the Russian pipeline monopoly Transneft, according to three traders with western oil buyers.

Over 60% of new business is generated from a Google business search

2018 Consumer Review Key Findings of a 2018 consumer review show that 27% of consumers looked online daily for a local business in 2018 - more than double the proportion in 2017; 69% look online for local businesses monthly (up from 54%) and 56% search for local businesses weekly (up from 41% last year). Companies today effectively generate 60% of their new business from a Google search result. What happens if you are not featuring on Google? If you are providing goods and services to the consumer and you don't feature on Google then you are steadily losing business to your competitors who do have a Google presence.

ANGLO AMERICAN PLC - Production Report for the first quarter ended 31 March 2019

Wrap Text Production Report for the first quarter ended 31 March 2019 Anglo American plc (the "Company") Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 25 April 2019 Anglo American plc Production Report for the first quarter ended 31 March 2019 Mark Cutifani, Chief Executive of Anglo American, said: "Production is 6%(1) lower in the quarter, with two planned longwall moves at Metallurgical Coal accounting for 80% of the reduction. Isolated production issues at Venetia (De Beers), Kumba Iron Ore and Platinum Group Metals made up the balance, mitigated by stronger operational performance from Copper, with a 4% production increase, and the ramp-up at Minas-Rio, which is ahead of plan following the restart of operations in December 2018. By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged." Highlights - De Beers' diamond production decreased by 8% to 7.9 million carats driven by lower production at Venetia as it transitions from open pit to underground. - Copper production increased by 4% to 161,100 tonnes due to strong plant performance and planned higher grades. - Platinum and palladium production decreased by 5%(2) to 471,900 ounces and by 6%(2) to 326,600 ounces, respectively, due to operational challenges as well as one-off benefits in Q1 2018. - Kumba's iron ore production decreased by 12% to 9.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production increased by 61% as its ramp-up progresses well, facilitated by access to higher grade ore in the Step 3 licence area. - Metallurgical coal production decreased by 25% to 4.2 million tonnes with two longwall moves in the period compared to only one in Q1 2018. - Thermal coal export pro

UPDATE 1-Anglo American copper output rises, ramps up Minas-Rio iron ore mine

(Adds details, CEO quote, background) April 25 (Reuters) - Anglo American Plc said on Thursday copper production rose in the first quarter, while output from Minas-Rio iron ore mine in Brazil soared as it ramped it up after resuming operations late last year. Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the diversified miner with an over century-old history said. Minas-Rio iron ore production jumped 61 percent.

Zimbabwe: Turnall Explores Export Markets

[The Herald] Zimbabwe Stock Exchange (ZSE) listed roofing and building materials manufacturer, Turnall Holding, intends to increase its product range to include production and supply of non-asbestos roofing materials, as part of the group s wider strategy to explore export markets..

Output at South Africa's Amplats hit by Eskom power cuts

ANGLOPLAT:   76,296     +186 (+0.24%)   25/04/2019 00:00 JOHANNESBURG, April 25 (Reuters) - South African miner Anglo American Platinum Ltd's (Amplats) first quarter production fell 6 percent, hit by problems at power supplier Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom, which supplies more than 90 percent of electricity in Africa's most advanced economy, pose a threat to miners which are among the biggest users of power in the country and are already grappling with weak profits. Amplats' total platinum group metal (PGM) production fell 6 percent to 998,900 ounces for the quarter ended March. 31, from 1,062,800 ounces in the same period a year ago. Eskom cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations throttled supply. Amplats said the power cuts hit PGM production at its Mogalakwena operations, which declined by 6 percent to 307,200 ounces, and at its Amandelbult operations, which decreased 7 percent to 192,800 ounces. In February, Amplats said it lost 14,000 platinum ounces when Eskom implemented five straight days of power cuts and was considering building a 100 megawatt solar power plant at its Mogalakwena operations. Amplats said if power disruptions persisted, there could be an impact on the timing of refining the built-up work-in-progress inventory in full, which it expects to have refined by the end of 2019. (Reporting by Tanisha Heiberg; Editing by Mark Potter) 2019-04-25 09.

Output at South Africa's Amplats hit by Eskom power cuts

JOHANNESBURG, April 25 ( ) - South African miner Anglo American (LON:AAL) Platinum Ltd's (Amplats) AMSJ.J first quarter production fell 6 percent, hit by problems at power supplier Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom, which supplies more than 90 percent of electricity in Africa's most advanced economy, pose a threat to miners which are among the biggest users of power in the country and are already grappling with weak profits.Amplats' total platinum group metal (PGM) production fell 6 percent to 998,900 ounces for the quarter ended March. 31, from 1,062,800 ounces in the same period a year ago. Eskom cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations throttled supply. Amplats said the power cuts hit PGM production at its Mogalakwena operations, which declined by 6 percent to 307,200 ounces, and at its Amandelbult operations, which decreased 7 percent to 192,800 ounces. In February, Amplats said it lost 14,000 platinum ounces when Eskom implemented five straight days of power cuts and was considering building a 100 megawatt solar power plant at its Mogalakwena operations. said if power disruptions persisted, there could be an impact on the timing of refining the built-up work-in-progress inventory in full, which it expects to have refined by the end of 2.

Anglo American off to a rocky start in 2019

Anglo American maintained its full-year production guidance despite a rocky start to 2019, with the bulk of a decline in first-quarter output stemming from its metallurgical coal mine in Australia. Anglo, one of the world's largest diversified mining companies, reported a 6% fall in group output measured as a copper equivalent for the three months to end-March. Anglo released production numbers only and no financial data. About 80% of this decline was due to two planned longwall moves at its metallurgical coal mines. A longwall move is a shift to mine a fresh block of coal.

Sainsbury's leads FTSE 100 lower, housebuilders hit by Taylor Wimpey warning

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 down 0.7 pct * FTSE 250 down 0.5 pct * Housebuilders dive after Taylor Wimpey's margin warning * Sainsbury's slumps after ditching Asda takeover * Carpetright sky-rockets on upbeat Q4 April 25 (Reuters) - British shares were in the red on Thursday as Sainsbury's shares soured after the company scrapped its proposed takeover of Walmart's Asda while Taylor Wimpey's warning on margins whacked housebuilders across the board. The FTSE 100 lost 0.7 percent and the FTSE 250 down 0.5 percent by 0730 GMT. Taylor Wimpey shed 6.6 percent after it warned full-year margins would be slightly lower than last year as it cost more to build homes. Fellow blue-chip housebuilders slipped after the update from Britain's third-largest homebuilder. Persimmon fell 4 percent, Barratt gave up 3.3 percent and Berkeley lost 2.3 percent. Sainsbury's tumbled 6 percent to a near three-year low after the supermarket chain scrapped its proposed 7.3 billion pound takeover of Walmart-owned Asda after the deal was blocked by Britain's competition regulator. Shares of rivals Tesco, Morrisons and Ocado were down between 1.6 percent and 2.1 percent. Barclays' first-quarter profits fell 10 percent as tough market conditions led to lower earnings at its under-pressure investment bank, sending shares down 1.3 percent. Stocks trading ex-dividend also dragged the main bourse lower. Legal and General gave up 4.9 percent, miner Antofagasta shed 3.3 percent and Glencore fell 2.5 percent. Housebuilders on the mid-cap index were also left reeling after Taylor Wimpey's statement.

Standard Bank partners with AWS for cloud migration

By - Standard Bank plans to migrate production workloads that include customer-facing systems and strategic core banking application to the cloud, and has signed up Amazon Web Services (AWS) as its preferred cloud provider. Group CIO Alpheus Mangale believes Standard Bank could be the first financial institution in South Africa, if not Africa, to announce a cloud migration of such magnitude. He adds that the bank will be making additional announcements around cloud and new partnerships in the coming weeks.

UPDATE 1-UK Stocks-Factors to watch on April 25

(Adds company news items and futures) April 25 ( ) - Britain's FTSE 100 .FTSE index is seen opening 6 points higher at 7,477 on Thursday, according to financial bookmakers, while FTSE 100 futures .FFIc1 were up 0.22 percent ahead of the cash market open. * MEGGITT: British engineering company Meggitt Plc MGGT.L reported organic revenue growth of 9 percent in the first quarter, but warned it would face tougher comparisons for the rest of 2019 and the potential for air traffic growth to moderate. KAZ MINERALS: Kaz Minerals KAZ.L said on Thursday its first-quarter copper production rose 4 percent, boosted by robust volumes at its Aktogay mine, while higher output was expected for the rest of the year. CARPETRIGHT: Flooring retailer Carpetright Plc CPRC.L said on Thursday it saw significant improvement in UK like-for-like sales in the fourth quarter as its restructuring efforts began to pay off.

NEPI ROCKCASTLE PLC - Notice of annual general meeting

NRP 201904250036A Notice of annual general meeting NEPI Rockcastle plc Incorporated and registered in the Isle of Man Registered number 014178V JSE and Euronext share code: NRP ISIN: IM00BDD7WV31 LEI code: 549300FMWM53K9ULYT15 (‘NEPI Rockcastle' or ‘the Company') NOTICE OF ANNUAL GENERAL MEETING Shareholders are referred to the announcement released on SENS on 15 March 2019 and are advised that the notice of the second annual general meeting of NEPI Rockcastle shareholders (‘the AGM') was posted today, Thursday, 25 April 2019. The AGM will be held at the Company's registered office, being 2nd Floor, 30 Athol Street, Douglas, Isle of Man, IM1 1JB on Wednesday, 21 August 2019 at 8:00am British Summer Time/9:00am South African Standard Time, for shareholders to consider and, if deemed fit, pass with or without modification, the resolutions set out in the AGM notice. The record date to be recorded in the shareholder register in order to be entitled to vote at the AGM is Friday, 16 August 2019. A copy of the AGM notice is available on the Company's website: https://nepirockcastle.com/wp-content/uploads/2019/04/Notice-of-Annual-General-Meeting.pdf NEPI Rockcastle plc Mirela Covasa +40 21 232 1398 JSE sponsor Java Capital +27 11 722 3050 Euronext Listing Agent ING Bank +31 20 563 6799 Media Relations Brunswick Group +44 20 7404 5959 +27 11 502 7300 nepirockcastle@brunswick.com 25 April 2019 Date: 25/04/2019 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Kumba reports fall in production during first quarter but remains upbeat for year

JOHANNESBURG (miningweekly.com) - With the release of its "Production and Sales Report" for the first quarter of this year (Q1 2019), Kumba Iron Ore Limited, part of the Anglo American plc group, has reaffirmed its guidance for total 2019 production and sales, issued in February (when it announced its annual results for 2018). Kumba has two mines in the Northern Cape province - Sishen and Kolomela. The iron ore miner highlighted that, during the first quarter, it maintained its record of having suffered no fatalities since 2016.

JSE tracks lower global markets, as oil jumps above $75 a barrel

The JSE weakened on Thursday morning, in line with lower Asian and European markets, with investors remaining wary of a global economic slowdown. Disappointing eurozone data on Wednesday brought concerns about the global economy to the fore. US markets weakened overnight while the Shanghai composite was 2.43% lower in Asian trade on Thursday. A rising oil price is also generating some jitters, pushing to a 2019 high on Thursday as tensions between the US and Iran escalate. Iran has threatened to close the Strait of Hormuz in retaliation for US sanctions aimed at reining in its nuclear programme. At 10.02am the all share was down 0.5% to 58,809.8 points and the top 40 0.55%.

Amplats says total PGM production down six percent in first quarter

JOHANNESBURG, April 25 (ANA) - Mining company Amplats said on Thursday its total platinum group metals (PGM) production fell by six percent to 998,900 ounces in the first quarter of 2019, due in part to as well as disruptions to power supply from state-owned utility Eskom. It its latest quarterly update, Anglo American (LON:AAL) Platinum said it remained committed to the elimination of fatalities and reported zero fatalities for the first three months of the year. Platinum output was down five percent to 471,900 ounces while palladium dropped six percent to 326,600 ounces. "Production was also lower in the quarter due to the one-off benefit of additional ore stockpile which increased production at Mototolo and Unki in Q1 2018, as well as Eskom power disruptions and operational challenges across the portfolio in the quarter," the company said. Total PGM production from own managed mines increased four percent to 601,000 ounces due to the inclusion of Mototolo production as own-mine production. Mogalakwena PGM production however fell six percent to 307,200 ounces largely due to Eskom power disruptions, as well as lower concentrator recoveries, partly offset by an increase in grade. Production at Unki in Zimbabwe decreased by five percent, largely due to additional first quarter 2018 production mined from ore stockpiles. Normalising for this impact, production at Unki was flat. Amplats said PGM output, excluding tolling material from Sibanye-Stillwater was seen at 4.2 - 4.5 million ounces for 2019, including platinum production of between 2.0 - 2.1 million ounces and palladium production guidance of between 1.3 - 1.4 million ounces. "Production guidance is down on 2018 due to the transition of Sibanye-Stillwater material to a tolling arrangement in place of its concentrate previously purchased by Anglo American Platinum," it said. - African News Agency (ANA), Editing by Stella Mapenzauswa.

UK Stocks-Factors to watch on April 25

April 25 ( ) - Britain's FTSE 100 .FTSE index is seen opening 6 points higher at 7,477 on Thursday, according to financial bookmakers. * SHELL: The restart of the gasoline-producing unit at Royal Dutch Shell Plc's RDSa.L 218,200 barrel-per-day (bpd) Norco, Louisiana, refinery has been delayed between one and two weeks, said sources familiar with plant operations on Wednesday. SAINSBURY'S: Sainsbury's SBRY.L and Asda, the British arm of U.S. retailer Walmart (NYSE:WMT) WMT.N , are "very unlikely" to appeal against the verdict of Britain's regulator on their proposed merger, the Financial Times reported on Wednesday.

How Vodacom is adapting its CSI approach to changing conditions

Rather than doggedly following an approach which may no longer be relevant, business has an obligation to adapt its corporate social investment (CSI) to changing needs and conditions. Speaking at the 2019 Trialogue Business in Society Conference in Johannesburg on Wednesday, 17 April, Takalani Netshitenzhe, chief officer corporate affairs, Vodacom Group, said that Vodacom has allocated R500m to education, gender empowerment and sanitation in schools over the next five years. " data-lazyauto="true"> Takalani Netshitenzhe, chief officer corporate affairs, Vodacom Group Netshitenzhe said that while Vodacom has pursued its Connect For Good initiative for 25 years and given 3,000 schools access to e-learning in the last 10 years, Vodacom's CSI efforts must, like any effective strategy, be adaptable to change.

WATCH LIVE: PIC Legal executive testifies before Mpati Commission

PRETORIA Acting executive head of legal counsel governance and compliance at the Public Investment Corporation (PIC) Lindiwe Dlamini appeared before the Commission of Inquiry into alleged improprieties at Africas largest asset manager on Thursday.Dlamini tole the commission led by retired Judge Lex Mpati assisted by Gill Marcus and Emmanuel Lediga that there were two related transactions that the PIC entered into in relation to the Steinhoff matter namely Project Sierra and Project Blue Buck. "I betieve that the full details of these transactions and their relationship have already been ventilated before the Commission during the testimony of my colleagues who have already appeared before the Commission. "At the outset twish to point out that I was not involved in Project Sierra (being the initial transaction) at the time it was entered into. Save to the limited extent set out in paragraph 4 I am not in position to make any detailed statements relating thereto as such infomation would not be in my personal knowledge. "In order to ensure that the Commission understands the context within which I was involved within Project Blue Buck I set out in broad terms the role that the legal department plays in relation to the consideration and conclusion of transactions at the PIC" said Dlamini.WATCH:BUSINESS REPORT ONLINE.

Sainsbury's leads FTSE 100 lower, housebuilders hit by Taylor Wimpey warning

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 down 0.7 pct * FTSE 250 down 0.5 pct * Housebuilders dive after Taylor Wimpey's margin warning * Sainsbury's slumps after ditching Asda takeover * Carpetright sky-rockets on upbeat Q4 April 25 (Reuters) - British shares were in the red on Thursday as Sainsbury's shares soured after the company scrapped its proposed takeover of Walmart's Asda while Taylor Wimpey's warning on margins whacked housebuilders across the board. The FTSE 100 lost 0.7 percent and the FTSE 250 down 0.5 percent by 0730 GMT. Taylor Wimpey shed 6.6 percent after it warned full-year margins would be slightly lower than last year as it cost more to build homes.

Former tobacco salesman, 57, has terminal lung cancer and plans to sue the firm which gave him 1,200 cigarettes for FREE eve

A father with terminal lung cancer may sue his former company for giving him thousands of free cigarettes, which he blames for the disease.  Simon Neale, 57, said he was given 1,200 cigarettes for free every month while he worked for a company which later merged with British American Tobacco. Mr Neale chose to smoke the freebies and said he became a heavy smoker as a result of his job perk.  But last year Mr Neale was diagnosed with inoperable lung cancer, which he said 'knocked him for six'. He quit smoking after finding out about the illness.

Three more Woolies stores ban plastic bags

Three more Woolies stores ban plastic bags Tags:plastic alternative, Plastic bag, Reusable, Woolworths In November 2018, Woolworths introduced low-cost reusable shopping bags into four of its Cape Town stores. The first store to stop using plastic bags completely was the Woolworths in Steenberg Village, Tokai. The retail giant has announced that it will stop selling plastic shopping bags at three more locations.

MERAFE RESOURCES LIMITED - Production report for the first quarter ended 31 March 2019

MRF 201904250007A Production report for the first quarter ended 31 March 2019 MERAFE RESOURCES LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/003452/06) Share Code: MRF ISIN: ZAE000060000 (‘Merafe' or the ‘Company') Production report for the first quarter ended 31 March 2019 Merafe's attributable ferrochrome production from the Glencore Merafe Chrome Venture for the first quarter ended 31 March 2019 decreased by 1% compared to the quarter ended 31 March 2018. First quarter First quarter ended ended 31 March 2019 31 March 2018 Attributable ferrochrome production (kt) 104 105 Sandton 25 April 2019 Sponsor One Capital Date: 25/04/2019 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

Anglo American Q1 output falls; copper, Minas-Rio iron ore rise

KUMBAIO:   43,973     -1254 (-2.77%)   25/04/2019 00:00 * Copper production rises 4 percent * Q1 total output down 6 percent * Minas-Rio iron ore mine ramp-up ahead of plan - CEO (Adds analyst comments, graphic, updates share move) By Muvija M and Barbara Lewis April 25 (Reuters) - Anglo American said on Thursday technical problems dragged first-quarter production down 6 percent, but copper output rose, as did that of iron ore from its Minas-Rio mine in Brazil, which ramped up operations after a leak last year. The share price fell 1 percent by 0908 GMT. The stock extended losses from the prior session, when JPMorgan warned of a $900 million cut to 2020 core profit if Minas-Rio failed to obtain a Brazilian tailings permit by the end of the year. Brazilian authorities have increased scrutiny following the Vale dam disaster in January. JPMorgan downgraded the stock to "neutral" from "overweight", saying the share no longer looked cheap. It has gained nearly 20 percent this year, outperforming some peers. Anglo American's strength has been driven by increased productivity and a promising outlook for copper as the mineral is in demand for an anticipated upsurge in electrification. Anglo's Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the miner said.

LIVESTREAM: Inquiry to hear from PIC executives

Vusi Thu, 04/25/2019 - 09:46 Teaser Media Paragraphs The Public Investment Corporation inquiry will continue to hear from PIC executives, as it continues to investigate the investments the company was involved in. PRETORIA - The Public Investment Corporation inquiry will continue to hear from PIC executives, as it continues to investigate the investments the company was involved in. The PIC s company secretary Bongani Mathebula has heavily implicated then CEO Dan Matjila.

TIGER BRANDS LIMITED - Oceana Fractional entitlements and apportionment announcement

TBS 201904250033A Oceana Fractional entitlements and apportionment announcement TIGER BRANDS LIMITED ‘Tiger Brands' or ‘the Company' (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 UNBUNDLING OF SHAREHOLDING IN OCEANA GROUP LIMITED (‘OCEANA') ? CASH PROCEEDS IN RESPECT OF FRACTIONAL ENTITLEMENTS ? APPORTIONMENT OF TAX COST FOR SOUTH AFRICAN TAX PURPOSES 1. Introduction Shareholders of Tiger Brands (‘Shareholders') are referred to the detailed terms, declaration and finalisation announcement released by Tiger Brands on the Stock Exchange News Service on 5 April 2019 (‘the Unbundling Announcement') regarding the unbundling of the 49,104,774 shares in Oceana (‘the Unbundled Shares') to Shareholders in the ratio of 25,86927 Unbundled Shares for every 100 shares held in Tiger Brands (‘Tiger Brands Shares') on the close of business on Friday, 26 April 2019 (‘the Unbundling'). The Unbundling amounts to a distribution in specie of the Unbundled Shares in terms of section 46 of the South African Income Tax Act, No.

WATCH: Stock picks — Bidvest and AECI

Graeme Franck from PSG Wealth Sandton chose Bidvest and AECI as his stock picks of the day. "So we do still like the SA Inc space, it's slightly controversial, given that the elections are two weeks away, so we chose two industrial companies, AECI and Bidvest. Both of them have reasonable valuations, dividend yields of 4% or 5%, and they are reasonably well managed in this very constrained environment.".

Microsoft on a tear as cloud business soars

Satya Nadella Microsoft's cloud computing business fuelled quarterly sales and profit that topped analysts' estimates, boosted by several new deals with large corporate clients. Revenue rose 14% from a year earlier to US$30.6-billion in the quarter ended 31 March, the Redmond, Washington-based company said on Wednesday in a statement. Analysts on average projected $29.9-billion.

UPDATE 2-Anglo American Q1 output falls; copper, Minas-Rio iron ore rise

* Copper production rises 4 percent * Q1 total output down 6 percent * Minas-Rio iron ore mine ramp-up ahead of plan - CEO (Adds analyst comments, graphic, updates share move) By Muvija M and Barbara Lewis April 25 (Reuters) - Anglo American AAL.L said on Thursday technical problems dragged first-quarter production down 6 percent, but copper output rose, as did that of iron ore from its Minas-Rio mine in Brazil, which ramped up operations after a leak last year. The share price fell 1 percent by 0908 GMT. The stock extended losses from the prior session, when JPMorgan (NYSE:JPM) warned of a $900 million cut to 2020 core profit if Minas-Rio failed to obtain a Brazilian tailings permit by the end of the year. Brazilian authorities have increased scrutiny following the Vale VALE3.SA dam disaster in January. JPMorgan downgraded the stock to "neutral" from "overweight", saying the share no longer looked cheap. It has gained nearly 20 percent this year, outperforming some peers.Anglo American's strength has been driven by increased productivity and a promising outlook for copper as the mineral is in demand for an anticipated upsurge in electrification.Anglo's Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the miner said.

Gold Worth Billions Being Smuggled Out of Africa

By David Lewis, Ryan Mcneill and Zandi Shabalala Nairobi - Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reuters analysis has found. Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity - up from 67 tonnes in 2006.

Global Markets Dampened by Weak Data

South Africa Wednesday was a bleak day for the local market, which was dragged down by a soft rand and poor consumer and business confidence reports released on the first quarter. At the close of trade, the All Share was 0.73% in the negative. United States In the US, indices opened flat on Wednesday due to pressure from mixed earnings results from industrials such as Boeing (NYSE:BA) and Caterpillar (NYSE:CAT).

Now trade unions are interfering in the business of the PIC

PIC company secretary Bongani Mathebula told the commission how trade unions lobbied the PIC to invest in Iqbal Survé's Sagarmatha. Labour unions which received large stakes in Survé linked Ayo Technology Solutions through a discounted B-BBEE consortium deal tried to influence the Public Investment Corporation's (PIC) decision to invest in another company connected to the Cape Town businessman. On Wednesday, recently reinstated company secretary Bongani Mathebula told the judicial inquiry looking into issues of impropriety at the state asset manager that various political formations and unions had sent emails to the PIC in which they tried to lobby it to invest in Iqbal Survé's Sagarmatha Technologies. Mathebula said they had received letters from the Police and Prisons Civil Rights Union's (Popcru's) investment arm PGC, the Federation of Unions of SA (Fedusa) and Cosatu's Kopano ke Matla. When asked who these parties were Mathebula disclosed that Fedusa's letter was signed by suspended secretary general Dennis George, Cosatu's letter was signed by the CE of Kopano, Steven Thebedi and PGC head In addition, Survé had also sent an email to former PIC CEO Dan Matjila with an attachment of the Cosatu letter said Mathebula. A statement was also received from the Economic Freedom Fighters. Matjila facilitates union interference She said on the eve of investment committee meeting which was considering the transaction Matjila had requested that she forward these emails to the committee to try and show support for the investment in Sagarmatha.

Standard Bank Appoints Chief Technology Officer as Bank Focuses on Digitisation Strategy

Standard Bank Group has appointed Mr. Tau Mashigo as its new Chief Technology Officer (CTO), effective 1 April, reporting to the Chief Information Officer (CIO). Mashigo will drive and support Standard Bank's strategic intent to become a fully digital organisation and assist in the transition to Cloud technology.

WATCH: How Capitec and Curro lifted PSG

Investment holding company PSG Group delivered its annual results on Wednesday and reported a 9% increase in recurring earnings per share. This was largely due to stronger performances from most of the group's core investments, including Capitec, PSG Konsult and Curro. PSG Group CEO Piet Mouton joined Business Day TV to talk about the company's full-year results..

UPDATE 2-Anglo American Q1 output falls; copper, Minas-Rio iron ore rise

* Copper production rises 4 percent * Q1 total output down 6 percent * Minas-Rio iron ore mine ramp-up ahead of plan - CEO (Adds analyst comments, graphic, updates share move) By Muvija M and Barbara Lewis April 25 (Reuters) - Anglo American said on Thursday technical problems dragged first-quarter production down 6 percent, but copper output rose, as did that of iron ore from its Minas-Rio mine in Brazil, which ramped up operations after a leak last year. The share price fell 1 percent by 0908 GMT. The stock extended losses from the prior session, when JPMorgan warned of a $900 million cut to 2020 core profit if Minas-Rio failed to obtain a Brazilian tailings permit by the end of the year.

NORTHAM PLATINUM LIMITED - Listing of new financial instruments NHM008 and NHM009

NHM008 NHM009 201904250040A Listing of new financial instruments - NHM008 and NHM009 NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Debt issuer code: NHMI Bond code: NHM008 Bond ISIN: ZAG000158858 Bond code: NHM009 Bond ISIN: ZAG000158866 (‘Northam') LISTING OF NEW FINANCIAL INSTRUMENTS - NHM008 AND NHM009 The JSE Limited (‘JSE') has granted approval for the listing of NHM008 and NHM009 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 (‘Programme'), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 26 April 2019. The details pertaining to NHM008 are as follows: Instrument Type: Senior Unsecured Floating Rate Notes Total Notes in Issue: ZAR1 975 000 000.00 including this issue Instrument Code NHM008 Nominal Amount: ZAR200 000 000.00 Issue Price: 100% Interest Rate: 3 Month ZAR-JIBAR plus 240 bps, being 9.558% on the first Interest Rate Determination Date (3 Month ZAR- JIBAR as at 24 April 2019 of 7.158% plus 240 bps) Coupon Rate Indicator: Floating Issue Date: 26 April 2019 Interest Commencement Date: 26 April 2019 Interest Rate Determination Date(s): 24 April 2019, 26 July 2019, 26 October 2019 and 26 January 2020 Maturity Date: 26 April 2020 Final Redemption Amount: 100% of Nominal Amount Last Day to Register: By 17h00 on 15 July 2019, 15 October 2019, 15 January 2020 and 15 April 2020 Books Close Period: 16 July 2019, 16 October 2019, 16 January 2020 and 16 April 2020 Interest Payment Date(s): 26 July 2019, 26 October 2019, 26 January 2020 and 26 April 2020 ISIN No: ZAG000158858 Business Day Convention: Following Business Day Other: The applicable pricing supplement (‘APS') contains additional terms and conditions to the terms and conditions as contained in the Programme Memorandum, dated 3 August 2012, (‘Terms and Conditions') Summary of additional terms and conditions: The additional terms and con

4 risk management tips for freight forwarders when taking on new business

Economic times are tough, and there is no industry where it is more apparent than in the freight forwarding industry. "Freight forwarding is a tough industry where the price is king and forwarders are price takers rather than price setters, forcing many operators to discount heavily in order to close deals. These discounting measures without weighing up the related risks can adversely affect the quality of service delivered and the outcomes for both forwarders and clients," says Kennedy Ntenjwa, marine broking centre manager at Aon South Africa.

Microsoft on a tear as cloud business soars

Satya Nadella Microsoft's cloud computing business fuelled quarterly sales and profit that topped analysts' estimates, boosted by several new deals with large corporate clients. Revenue rose 14% from a year earlier to US$30.6-billion in the quarter ended 31 March, the Redmond, Washington-based company said on Wednesday in a statement. Analysts on average projected $29.9-billion.

Freedom Day in South Africa -- a reminder of unfinished business

South Africans celebrate Freedom Day on April 27 every year to mark the country's first democratic elections in 1994. A quarter of a century later, though, questions remain: how much and whose freedom is to be celebrated? The differing answers among voters might affect the results of the national elections on 8 May . South Africans can still not celebrate freedom from want.

Business LSF|PR is setting the pace in Africa's public relations space

Photograph — The Future Africa Over time, it has been discovered that the success of most brands is tied to their online presence and publicity. LSF|PR is one of the leading firms in the business of generating positive publicity and enhancing reputation through social media. Not only does LSF|PR  tell stories through content, but the company is also known to make a lasting impression with its communication strategies and thoughtful planning.

INVESTEC PROPERTY FUND LIMITED - Interest PaymentIPF24

IPF24 201904250041A Interest Payment IPF24 Investec Property Fund Limited Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration Number 2008/011366/06) JSE Code: IPF24 ISIN No: ZAG000149501 (‘Investec Property Fund' or ‘the Fund') Noteholders are advised that Investec Property Fund Limited confirm the payments that are to be made in respect of the Interest Period starting 05-Feb-2019 and ending 05-May-2019. The Payment Date shall be on 06-May-2019. JSE Code: IPF24 ISIN Code: ZAG000149501 Nominal Amount R300,000,000.00 Interest Payment: R6,546,575.34 Total Amount Due: R6,546,575.34 Nominal Amount Outstanding: R300,000,000.00 Dated: 25-Apr-2019 Sponsor - Investec Bank Limited (‘Investec') Date: 25/04/2019 12:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Roads students bag prize for business model that could employ 10 000 youth

Four Rhodes University PhD Chemistry students have bagged the top position in the 2019 Hult Prize Challenge for their business model for a waste management system that will result in the employment of more than 10 000 young people… The four students, who go by the name "Team E-Smart" are Nobuhle Ndebele, 24, Lindokuhle Nene, 25, Reitumetse Nkhahle, 26 and Gauta Matlou, 29 and were the only students from a South African university participating at the summit, held at the Brookhouse International School in Nairobi, Kenya. Their business model aims to create job opportunities for the youth through the collection of electronic and electrical waste materials and further recycling, repairing or repurposing it into new market products. "[This] so impressed the judges that they were awarded the top position against 45 other teams from across the world," university spokesperson Velisile Bukula said in a statement on Wednesday. The Hult Prize was established in 2010 by its CEO Ahmad Ashkar and Bertil Hult to crowd-source startup ideas from young people on how to sustainably solve the world's most critical social issues such as food security, water access, energy, and education. "Today, the Hult Prize Foundation is the world's biggest engine for the launch of for-good, for-profit startups emerging from universities with over 2 500 staff and volunteers around the world," its site says. "Training over one million youth in impact entrepreneurship over the past decade, the movement has deployed more than $50m (over R700m) of capital into the sector and mobilised and empowered millions of young people to re-think the future of business as it continues to breed disruptive innovation on college and university campuses across 100 plus countries." This year, university and college students from across the world were challenged to create a social-entrepreneurship start-up that would result in more than 10 000 jobs over the next decade Speaking at the opening of the challenge, former US president Bill Clint

ANGLO AMERICAN PLC - Production Report for the first quarter ended 31 March 2019

Wrap Text Production Report for the first quarter ended 31 March 2019 Anglo American plc (the "Company") Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 25 April 2019 Anglo American plc Production Report for the first quarter ended 31 March 2019 Mark Cutifani, Chief Executive of Anglo American, said: "Production is 6%(1) lower in the quarter, with two planned longwall moves at Metallurgical Coal accounting for 80% of the reduction. Isolated production issues at Venetia (De Beers), Kumba Iron Ore and Platinum Group Metals made up the balance, mitigated by stronger operational performance from Copper, with a 4% production increase, and the ramp-up at Minas-Rio, which is ahead of plan following the restart of operations in December 2018. By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged." Highlights - De Beers' diamond production decreased by 8% to 7.9 million carats driven by lower production at Venetia as it transitions from open pit to underground. - Copper production increased by 4% to 161,100 tonnes due to strong plant performance and planned higher grades. - Platinum and palladium production decreased by 5%(2) to 471,900 ounces and by 6%(2) to 326,600 ounces, respectively, due to operational challenges as well as one-off benefits in Q1 2018. - Kumba's iron ore production decreased by 12% to 9.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production increased by 61% as its ramp-up progresses well, facilitated by access to higher grade ore in the Step 3 licence area. - Metallurgical coal production decreased by 25% to 4.2 million tonnes with two longwall moves in the period compared to only one in Q1 2018. - Thermal coal export pro

KUMBA IRON ORE LIMITED - Kumba Iron Ore Limited production and sales report for the quarter ended 31 March 2019

KIO 201904250008A Kumba Iron Ore Limited production and sales report for the quarter ended 31 March 2019 Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) (Registration number 2005/015852/06) Share code: KIO ISIN: ZAE000085346 (‘Kumba' or ‘the company') Kumba Iron Ore Limited Production and Sales Report for the quarter ended 31 March 2019 Kumba is on track to deliver its sales and production guidance of 43-44Mt for 2019, with continued focus on improving its health, safety and operational performance. Throughout this report, production and sales volumes referred to are 100% of Sishen Iron Ore Company Proprietary Limited (‘SIOC'), and attributable to shareholders of Kumba as well as the non-controlling interests in SIOC. Overview: - Kumba continued to be fatality free, with ongoing focus on improving its health and safety performance. - Total sales of 10.9Mt were in line with Q1 2018, with export sales increasing by 2% to 10.1Mt. - Total production volumes decreased by 12% compared to Q1 2018, due to maintenance requirements at Sishen and Kolomela. - Total finished stock reduced to 4.2Mt, from 5.3Mt at 31 December 2018. Sales summary Quarter ended ‘ 000 tonnes % change Quarter ended % change Q1 Q1 vs Q4 vs 2019 2018 Q1 2018 2018 Q4 2018 Total 10,879 10,831 - 11,591 (6) - Export sales 10,131 9,946 2 10,723 (6) - Domestic sales 748 885 (16) 868 (14) Production summary Quarter ended ‘ 000 tonnes % change Quarter ended % change Q1 Q1 vs Q4 vs 2019 2018 Q1 2018 2018 Q4 2018 Total 9,516 10,855 (12) 10,170 (6) - Sishen Mine 6,447 7,325 (12) 6,960 (7) - Kolomela Mine 3,070 3,530 (13) 3,210 (4) Total sales volumes of 10.9Mt were broadly flat relative to Q1 2018 with export sales growth of 2% to 10.1Mt partially offset by lower domestic sales. Relative to Q4 2018, export sales decreased by 6% due to lower opening stock levels at Saldanha Port at the beginning of the year, following the derailments and bridge incident in 2018. Kumb

Rhodes students bag prize for business model that could employ 10 000 youth

Four Rhodes University PhD Chemistry students have bagged the top position in the 2019 Hult Prize Challenge for their business model for a waste management system that will result in the employment of more than 10 000 young people… The four students, who go by the name "Team E-Smart" are Nobuhle Ndebele, 24, Lindokuhle Nene, 25, Reitumetse Nkhahle, 26 and Gauta Matlou, 29 and were the only students from a South African university participating at the summit, held at the Brookhouse International School in Nairobi, Kenya. Their business model aims to create job opportunities for the youth through the collection of electronic and electrical waste materials and further recycling, repairing or repurposing it into new market products. "[This] so impressed the judges that they were awarded the top position against 45 other teams from across the world," university spokesperson Velisile Bukula said in a statement on Wednesday.

BRIEF-Anglo American Qtrly Production Dips 6 Pct

April 25 ( ) - Anglo American Plc AAL.L :* PRODUCTION IS 6 PCT LOWER IN QUARTER, WITH TWO PLANNED LONGWALL MOVES AT METALLURGICAL COAL ACCOUNTING FOR 80% OF REDUCTION * QTRLY DIAMOND PRODUCTION 7.9 MILLION CARATS VERSUS 8.5 MILLION CARATS AS REPORTED YEAR AGO * QTRLY COPPER PRODUCTION 161 KTONNES VERSUS 155 KTONNES AS REPORTED YEAR AGO * QTRLY PLATINUM PRODUCTION 472 KOZ VERSUS 498 KOZ AS REPORTED YEAR AGO * QTRLY IRON ORE PRODUCTION FROM MINAS-RIO 4.9 MILLION TONNES VERSUS 3 MILLION TONNES AS REPORTED YEAR AGO* QTRLY IRON ORE PRODUCTION FROM KUMBA 9.5 MILLION TONNES VERSUS 10.9 MILLION TONNES AS REPORTED YEAR AGO* QTRLY METALLURGICAL COAL PRODUCTION 4.2 MILLION TONNES VERSUS 5.5 MILLION TONNES AS REPORTED YEAR AGO* DE BEERS FY PRODUCTION GUIDANCE IS UNCHANGED AT 31-33 MILLION CARATS, SUBJECT TO TRADING CONDITIONS * QTRLY THERMAL COAL PRODUCTION 6.6 MILLION TONNES VERSUS 6.8 MILLION TONNES AS REPORTED YEAR AGO * PLATINUM FY PRODUCTION GUIDANCE REMAINS UNCHANGED AT 2.0-2.1 MILLION OUNCES OF PLATINUM AND 1.3-1.4 MILLION OUNCES OF PALLADIUM * QTRLY NICKEL PRODUCTION 9.8 TONNES VERSUS 8.6 KILO TONNES AS REPORTED YEAR AGO * BY END OF QUARTER HAD INCREASED PRODUCTION RUN-RATE, ON TRACK TO DELIVER 2019 PRODUCTION TARGETS AND OUR GUIDANCE IS UNCHANGED- CEO * FY COPPER PRODUCTION GUIDANCE UNCHANGED AT 630,000-660,000 TONNES * SEES FY IRON ORE PRODUCTION GUIDANCE FOR KUMBA IS UNCHANGED AT 43-44 MILLION TONNES* SEES FY IRON ORE PRODUCTION GUIDANCE FOR MINAS-RIO IS UNCHANGED AT 18-20 MILLION TONNES.

ANGLO AMERICAN PLATINUM LIMITED - PGM Production Report for the First Quarter ending 31 March 2019

AMS 201904250013A PGM Production Report for the First Quarter ending 31 March 2019 ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 (‘The Company' or ‘Anglo American Platinum') ANGLO AMERICAN PLATINUM LIMITED PGM PRODUCTION REPORT FOR THE FIRST QUARTER ENDING 31 MARCH 2019 OVERVIEW • Commitment to elimination of fatalities - no fatalities occurred in Q1 2019 • Total PGM production (expressed as 5E+Au metal in concentrate) decreased 6% to 998,900 ounces, (normalising for the transition of Sibanye-Stillwater material to a tolling arrangement), due to the once-off benefit of additional ore stockpile which increased production at Mototolo and Unki in Q1 2018, as well as Eskom power disruptions and operational challenges across the portfolio in the quarter • Own managed mines PGM production increased 4% to 601,000 ounces, due to the inclusion of Mototolo as own-mine production • Joint venture PGM production (mined and purchase of concentrate) decreased 29% to 210,400 ounces due to Mototolo now reported as an own mine • Purchase of PGM concentrate from third parties decreased by 44% to 216,800 ounces largely due to the transition of material from Sibanye-Stillwater to a tolling arrangement • Refined PGM production decreased by 14% to 871,200 ounces following the triennial planned stock take at the PMR, maintenance at processing operations, as well as the impact from Eskom power disruptions • PGM sales volumes were down 21% to 884,900 ounces, largely in line with lower refined production • 2019 Production guidance (metal in concentrate) remains unchanged at 4.2 - 4.5 million PGM ounces Anglo American Platinum Q1 2019 Q1 2019 PGM Production Report - Q1 2019 Q1 Q4 Q3 Q2 Q1 vs vs Period 1 January 2019 - 31 March 2019 2019 2018 2018 2018 2018 Q1 2018 Q4 2018 Total M&C Production (mined and purchase of concentrate) Total PGM Production (5E + Au)(1) 000 oz 998.9 1,030.3 1,113.5 1,0

UPDATE 1-Anglo American copper output rises, ramps up Minas-Rio iron ore mine

(Adds details, CEO quote, background) April 25 (Reuters) - Anglo American Plc AAL.L said on Thursday copper production rose in the first quarter, while output from Minas-Rio iron ore mine in Brazil soared as it ramped it up after resuming operations late last year. Copper output climbed 4 percent to 161,100 tonnes for the three months ended March 31, the diversified miner with an over century-old history said. Minas-Rio iron ore production jumped 61 percent. A renewed demand for copper, a metal that has a major role to play in automobiles and related industries, partly aided Anglo American in outperforming its major peers last year. But the blue-chip miner said total output slipped by 6 percent during the quarter, partly hurt by production issues at Venetia diamond mine, Kumba Iron Ore KIOJ.J and Platinum Group Metals PTM.TO . The fall in total output was cushioned by stronger operational performance from copper, said Chief Executive Officer Mark Cutifani. He added that the ramp-up at Minas-Rio iron ore mine in Brazil was ahead of plan following its resumption in December after months of closure. Anglo American said in December it had received regulatory approval to step up production and cut costs at the mine. It then also hiked production target for 2019. On Thursday, the company stood by that guidance. "By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged," Cutifani said in a statement.Its smaller peer Antofagasta ANTO.L posted a 22.6 percent jump in first-quarter copper production this week, bolstered by better quality ore. Shares of the FTSE 100 constituent, which have jumped nearly 20 percent this year, were expected to open 1 percent higher..

South African Markets - Factors to watch on April 25

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday. ECONOMIC EVENTS South Africa publishes producer price inflation data for March at 0930 GMT SOUTH AFRICAN MARKETSSouth Africa's rand slipped to a three-week low on Wednesday as the consumer confidence index showed a decline in the first quarter of 2019, while stocks also weakened. The benchmark JSE Top-40 index .JTOPI ended 0.74 percent down at 52,785 while the broader All-share index .JALSH slipped by almost the same margin to 59,102. .J ZAR/ GLOBAL MARKETS Asian shares slipped on Thursday as a surprise deterioration in German and South Korean economic data rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. MKTS/GLOB WALL STREET The S&P 500 slipped on Wednesday after ending the previous session with a record and the Nasdaq failed to hold all-time highs reached earlier in the day while investors waited for more earnings reports.

GOLD FIELDS LIMITED - Operating Update Quarter ended March 2019

Wrap Text Operating Update Quarter ended March 2019 Gold Fields Limited Incorporated in the Republic of South Africa Registration number 1968/004880/06 Share code: GFI Issuer code: GOGOF ISIN - ZAE 000018123 Media Release Gold Fields Operating Update Quarter ended March 2019 JOHANNESBURG. 25 April 2019: Gold Fields Limited (NYSE & JSE: GFI) is pleased to provide an operational update for the quarter ended 31 March 2019. Detailed financial and operational results are provided on a six-monthly basis i.e.

ROB ROSE: Why Steinhoff could happen again

You'd want to believe that nothing like Steinhoff could happen again. But if you can't spot where you went wrong, you could end up there again.

ANGLO AMERICAN PLC - Production Report for the first quarter ended 31 March 2019

AGL 201904250014A Production Report for the first quarter ended 31 March 2019 Anglo American plc (the ‘Company') Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 25 April 2019 Anglo American plc Production Report for the first quarter ended 31 March 2019 Mark Cutifani, Chief Executive of Anglo American, said: ‘Production is 6%(1) lower in the quarter, with two planned longwall moves at Metallurgical Coal accounting for 80% of the reduction. Isolated production issues at Venetia (De Beers), Kumba Iron Ore and Platinum Group Metals made up the balance, mitigated by stronger operational performance from Copper, with a 4% production increase, and the ramp-up at Minas-Rio, which is ahead of plan following the restart of operations in December 2018. By the end of the quarter we had increased our production run-rate, are on track to deliver this year's production targets and our guidance is unchanged.' Highlights - De Beers' diamond production decreased by 8% to 7.9 million carats driven by lower production at Venetia as it transitions from open pit to underground. - Copper production increased by 4% to 161,100 tonnes due to strong plant performance and planned higher grades. - Platinum and palladium production decreased by 5%(2) to 471,900 ounces and by 6%(2) to 326,600 ounces, respectively, due to operational challenges as well as one-off benefits in Q1 2018. - Kumba's iron ore production decreased by 12% to 9.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production increased by 61% as its ramp-up progresses well, facilitated by access to higher grade ore in the Step 3 licence area. - Metallurgical coal production decreased by 25% to 4.2 million tonnes with two longwall moves in the period compared to only one in Q1 2018. - Thermal coal export production decreased by 2% to 6.6 mill

Selling a business as a going concern: VAT implications

Contributor Fanie Botes, Director: Commercial - Millers Inc | Thursday, 25 April 2019, 07:15 Millers welcomed Chrishane Fortuin (left) to their team. Fortuin will be assisting the litigation department. With him is Fanie Botes, director of the commercial department.

JSE tracks lower global markets, as oil jumps above $75 a barrel

The JSE weakened on Thursday morning, in line with lower Asian and European markets, with investors remaining wary of a global economic slowdown. Disappointing eurozone data on Wednesday brought concerns about the global economy to the fore. US markets weakened overnight while the Shanghai composite was 2.43% lower in Asian trade on Thursday. A rising oil price is also generating some jitters, pushing to a 2019 high on Thursday as tensions between the US and Iran escalate. Iran has threatened to close the Strait of Hormuz in retaliation for US sanctions aimed at reining in its nuclear programme. At 10.02am the all share was down 0.5% to 58,809.8 points and the top 40 0.55%.

Output at Amplats hit by Eskom power cuts

Anglo American Platinum (Amplats) first quarter production fell 6 percent, hit by problems at Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom pose a threat to miners which are among the biggest users of power in the country and are already grappling with weak profits. Amplats' total platinum group metal production fell 6 percent to 998,900 ounces for the quarter ended March.

Germany, Poland halt oil imports via Russian pipeline over quality concerns

* Suspending supplies could trigger legal claims by buyers * Alternative routes cannot fully meet supply shortfall * Russia says will pump clean fuel to Europe on April 29 * Moscow working on withdrawing tainted oil from pipeline (Adds more details, quotes, background) By Dmitry Zhdannikov, Olga Yagova and Olesya Astakhova MOSCOW, April 25 (Reuters) - Poland and Germany have suspended imports of Russian oil via a major pipeline, citing poor quality and triggering a rare crisis over supply from the world's second-largest crude exporter. Halting imports from the Druzhba pipeline could trigger legal claims by Western buyers against Russian suppliers, who would in turn seek compensation from Russian pipeline monopoly Transneft, three traders with Western buyers said. The suspension cuts off a major supply route for Polish refineries owned by Poland's PKN Orlen and Grupa Lotos , as well as plants in Germany owned by Total , Shell, Eni and Rosneft. Halting supplies of tainted oil, which can corrode refining units, has pushed some refiners to find other supplies. But alternative routes cannot fully fill the shortfall. The quality issue helped drive oil prices above $75 a barrel for the first time this year on Thursday. Russia said it planned to start pumping clean fuel to Europe through the pipeline on April 29. Polish pipeline company Pern told Transneft on Wednesday it was suspending purchases, a letter seen by Reuters showed. Belarus said neighbouring Poland stopped taking deliveries of Russian crude via the Soviet-built pipeline at 2000 GMT on Wednesday, Belarusian state news agency Belta reported. Druzhba, meaning "friendship", can ship up to 1 million barrels per day, or 1 percent of global crude demand. It supplies Poland and Germany via a northern spur and the Czech Republic, Hungary and Slovakia via a southern leg.

THE Glenlivet Whisky to stage a brand takeover of Business Day

The takeover will include a change to the paper's masthead — from Business Day to THE Business Day . The takeover is being engineered by THE Glenlivet's brand communications agency, Publicis Machine, which has been instrumental in developing the brand's ‘THE' campaign over the past year. " Business Day is a natural choice, given that it is 'THE' definitive business read, 'THE' leader in its field and 'THE' first choice for business leaders around the country," says the team at Publicis Machine.

Kumba on track to meet 2019 guidance despite work stoppages at mines

JOHANNESBURG, April 25 (ANA) Kumba Iron Ore said on Thursday that it was on track to deliver its sales and production guidance of 43 million tonnes to 44 million tonnes for 2019, with continued focus on improving its health, safety and operational performance. This as total production volumes decreased by 12 percent for the quarter ended 31 March 2019 to 9.5 million tonnes compared to the first quarter 2018. This was due to unscheduled plant maintenance requirements at Sishen Iron Ore Company and stoppage of the dense media separation plant Kolomela to perform a critical infrastructure upgrade. Total sales volumes of 10.9 million tonnes were broadly flat relative to the first quarter 2018, with export sales growth of two percent to 10.1 million tonnes partially offset by lower domestic sales. Kumba said that improving mine to plan practices and operating equipment performance were key priorities as the company progresses towards new levels of benchmark operating performance. The company also saw its logistical performance improve during the quarter, reflecting the progress made by the joint steering committee and the benefits of working more closely with Transnet. This progress was one of the key factors underpinning the maintenance of the 2019 full year guidance announced in Kumba's 2018 annual results earlier this year..

BAT ‘is in good shape' and expects higher earnings in 2019

In February, BAT said that excluding currency fluctuations and the 2017 acquisition of Reynolds American, adjusted EPS in 2018 rose 11.8% British American Tobacco (BAT) expects "another year of good earnings growth" in 2019, despite mooted regulations in the US and competitive threats, chair Richard Burrows says. In February, BAT said that excluding currency fluctuations and the 2017 acquisition of Reynolds American, adjusted earnings per share in 2018 rose 11.8%. The group, which makes Lucky Strike, Camel and Dunhill cigarettes, said at the time it expected high-single-digit adjusted constant-currency earnings growth in 2019. "Against a backdrop of a strong set of results and consequently rising share price, all of this, I believe, puts us is a strong position to deliver long-term sustainable growth," Burrows said at the tobacco company's AGM on Thursday. "The business is in good shape," he said. At the same time, BAT was "very conscious that investor sentiment over the last year has been negatively impacted by concerns over possible regulation in the US and competitor dynamics in new categories resulting in a sharp fall in our share price". BAT has a new CEO in Jack Bowles, who took over from Nicandro Durante at the beginning of April. The group's shares were 2.3% lower at R556.74 on Thursday afternoon. hedleyn@businesslive.co.za.

One-on-one coaching - Marketing, advertising, PR, boards

I have been in the communications business for almost 50 years and instead of retiring I intend offering one-on-one coaching to anyone who needs it in the marketing industry or who is a full time or non-executive board member. This can be done in person or via Skype, or any other video or audio link. If you have a look at my experience (below), you will be able to see that I have amassed a considerable amount of skills not only in the media and marketing industries but also as a board member for various companies and entities.

BRITISH AMERICAN TOBACCO PLC - Speech by Richard Burrows, Chairman, at the British American Tobacco p.l.c. Annual General Me

Wrap Text Speech by Richard Burrows, Chairman, at the British American Tobacco p.l.c. Annual General Meeting on 25 April 2019 British American Tobacco p.l.c. Incorporated in England and Wales (Registration number: 03407696) Short name: BATS Share code: BTI ISIN number: GB0002875804 ("British American Tobacco p.l.c." or "the Company") 25 APRIL 2019 SPEECH BY RICHARD BURROWS, CHAIRMAN, AT THE BRITISH AMERICAN TOBACCO p.l.c. ANNUAL GENERAL MEETING ON 25 APRIL 2019 Good morning ladies and gentlemen. It is my pleasure to welcome you to British American Tobacco's 2019 Annual General Meeting. I am pleased to report that our 2018 results demonstrate that the business is in good shape. This is the result of our established strategy that focuses on a multicategory approach, and which enables us to continue to deliver shareholder returns today while investing in our future. While our business is continuing to perform very well we are very conscious that investor sentiment over the last year has been negatively impacted by concerns over possible regulation in the US and competitor dynamics in new categories resulting in a sharp fall in our share price. I am, however, confident that the business is in good shape and that the causes of these concerns in fact present significant opportunities for future growth.

Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders.  Few people in the mining industry are as bullish on South Africa as Anil Agarwal, the enigmatic chairman of London-listed Vedanta Resources. The Indian mining tycoon, who has a more than 20% stake in Anglo American, is always effusive in his praise for the South African mining sector - almost to the point where one wonders if he inhabits some parallel universe.

METALS-Strong dollar, growth fears push industrial metals lower

(Updates throughout, moves dateline from BEIJING) By Peter Hobson LONDON, April 25 (Reuters) - Prices of copper and most other industrial metals fell on Thursday as worries over the global economic outlook increased and the U.S. dollar hit its strongest in almost two years, making metals more expensive for buyers with other currencies. Benchmark copper on the London Metal Exchange (LME) was down 0.9 percent at $6,391.50 a tonne at 1024 GMT.

IoT helps SAB keep beers cold

Thingstream is providing the Internet of Things (IoT) connectivity solution to support South African Brewery (SAB), a subsidiary of the world's largest brewer Anheuser-Busch InBev (AB InBev). The Fridgelogic Connected Cooler system will be implemented across South Africa, enabling SAB to track and monitor the temperature and location of its coolers and fridges. Thingstream has partnered with CIRT, a joint venture between Digibiz and Black Lite Group, Digital Twin and Staycold to deliver the solution.

Articles: The business regulatory framework: enabler and enforcer

The South African legislative environment, as it pertains to business, performs a crucial function. It attempts to ensure fairness and to provides assurance to investors. In this sense, business regulations are intended to protect and assist business. They are also utilised by our country's authorities as a mechanism to guarantee that everyone doing business with is compliant.

Business WorldRemit is working with Paga to roll out international digital money transfers in Nigeria

Global digital money transfer leader, WorldRemit has signed a strategic deal with Nigeria's first and leading mobile money company, Paga to roll out international digital money transfers in Nigeria. The deal will see WorldRemit's customers around the world send money to Nigeria seamlessly and instantly. WorldRemit is expanding its service offering beyond bank transfer and airtime top-up to include mobile money service. The partnership with Paga will allow WorldRemit customers in over 50 countries to send money directly from their phones to 11 million Paga mobile money accounts in Nigeria.

BUSINESS MAVERICK: Department of Labour threatens to cancel Amcu's registration

There has long been speculation that the Association of Mineworkers and Construction Union was in the Department of Labour's sights because of its failure to hold regular leadership elections and other regulatory transgressions. But its charismatic president Joseph Mathunjwa is unlikely to go down without a fight. --.

JSE weaker as global markets retreat

The JSE closed weaker on Thursday on the back of broad-based weakness across most global equity indices. Initial weakness was recorded in mainland China were the Shanghai Composite Index fell 2.19% while in Hong Kong the Hang Seng dropped 0.86%. The Japanese Nikkei managed to eke out gains of 0.48%.

U.S. Business-Equipment Orders Rebound in Best Gain Since July

(Bloomberg) -- Orders placed with U.S. factories for business equipment rose by the most in eight months in March as a broader measure also saw surprising strength, signs corporate investment is regaining its footing despite trade war uncertainty. A proxy for business investment -- non-military capital goods orders excluding aircraft -- rose 1.3 percent after the prior month was revised to a gain from a loss, according to Commerce Department figures Thursday that topped all estimates in Bloomberg's survey. The broader measure of bookings for all durable goods, or items meant to last at least three years, rose 2.7 percent, a seven-month high and more than projected. Key Insights The improvement in equipment orders signals manufacturers are seeing stable demand, which should contribute to a still-solid pace of economic growth in the first quarter.

IoT helps AB InBev stay cool

Thingstream has announced that it is providing the IoT connectivity solution to support the world's largest brewer Anheuser-Busch InBev (AB InBev) South African Brewery (SAB) subsidiary with a Fridgelogic Connected Cooler system across South Africa. The solution enables SAB to track and monitor the temperature and location of its coolers and fridges.  Thingstream has partnered with CIRT, a joint venture between Digibiz and Black Lite Group, Digital Twin and Staycold to deliver the solution. Thingstream's IoT connectivity platform was chosen as the backbone of the Fridgelogic Connected Cooler solution as it provides not only trusted global connectivity (it is not limited to one network operator) but it is secure, low powered and extremely cost competitive.

The False Choice Between Business and Ethics

Should there be an imperative — moral or otherwise — to consider what's fair when making a business transaction? Consider this situation — let's call it Case A. You're at a yard sale and pick up a violin. The tag says $50.

Six reasons why your small business needs a website

It is strange to think that in this day and age there are still some organisations which do not have an online presence. For small businesses especially, not having a website or some sort of presence in place is detrimental, as GoDaddy VP for EMEA, Stefano Maruzzi, explains. "South Africans who have not yet invested in a digital home to call their own stand to gain significant benefits from creating a website," he says.

GOLD FIELDS LIMITED - Potential bond offering

Wrap Text Potential bond offering Gold Fields Limited (Reg. No. 1968/004880/06) (Incorporated in the Republic of South Africa) ("Gold Fields" or "the Company") JSE, NYSE, DIFX Share Code: GFI ISIN Code: ZAE000018123 MEDIA RELEASE Potential bond offering NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN ANY JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Johannesburg, 25 April 2019: Gold Fields Limited (Gold Fields) (JSE, NYSE: GFI) has mandated certain investment banks to arrange a series of fixed income investor meetings in the US and London commencing Monday 29th April.

Output at Amplats hit by Eskom power cuts

Eskom cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations throttled supply. | JOHANNESBURG - South African miner Anglo American Platinum Ltd's (Amplats) first-quarter production fell 6%, hit by problems at power supplier Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom, which supplies more than 90% of electricity in Africa's most advanced economy, pose a threat to miners who are among the biggest users of power in the country and are already grappling with weak profits. Amplats' total platinum group metal (PGM) production fell 9% to 998,900 ounces for the quarter ended on 31 March, from 1,062,800 ounces in the same period a year ago. Eskom cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations throttled supply. Amplats said the power cuts hit PGM production at its Mogalakwena operations, which declined by 6% to 307,200 ounces, and at its Amandelbult operations, which decreased 7% to 192,800 ounces. In February, Amplats said it lost 14,000 platinum ounces when Eskom implemented five straight days of power cuts and was considering building a 100-megawatt solar power plant at its Mogalakwena operations. Amplats said if power disruptions persisted, there could be an impact on the timing of refining the built-up work-in-progress inventory in full, which it expects to have refined by the end of 2.

Tendele threatens to ‘Slapp' activists

Environmental activists and their lawyers opposed to mining in ecologically sensitive areas are allegedly being subjected to ‘lawfare' by lawyers for the mining companies. They are being sued for defamation for posts on Facebook, and other comments made about the mining operations. A Johannesburg coal mining company has threatened to drag an environmental watchdog group to the High Court and sue it for defamation and financial damages, sparking concern around an apparent increase in the use of corporate "Slapp" suits to intimidate critics of mining ventures.

TIGER BRANDS LIMITED - Acquisition of securities by First State Investment Management (UK) Limited

Wrap Text Acquisition of securities by First State Investment Management (UK) Limited TIGER BRANDS LIMITED "Tiger Brands" or "the Company" (Incorporated in the Republic of South Africa) (Registration number 1994/017881/06) Share code: TBS ISIN: ZAE000071080 ACQUISITION OF SECURITIES BY FIRST STATE INVESTMENT MANAGEMENT (UK) LIMITED In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Tiger Brands has received formal notification that First State Investment Management (UK) Limited (First State Investment) has acquired an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by First State Investment now amounts to 5.02% of the total issued ordinary shares of the Company. Bryanston 25 April 2019 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 25/04/2019 10:42:00 Produced by the JSE SENS Department.

CAPITEC BANK HOLDINGS LIMITED - Dealing In Securities By A Share Incentive Scheme

Wrap Text Dealing In Securities By A Share Incentive Scheme CAPITEC BANK HOLDINGS LIMITED Incorporated in the Republic of South Africa Registration number: 1999/025903/06 Registered bank controlling company Share Code : CPI ISIN Number: ZAE000035861 DEALING IN SECURITIES BY A SHARE INCENTIVE SCHEME In compliance with paragraph 14.9(d) of schedule 14 and paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information, relating to the dealing in securities by the trustees of the Capitec Bank Holdings Share Trust is disclosed: NAME OF SCHEME Capitec Bank Holdings Share Trust COMPANY TO WHICH THE SCHEME Capitec Bank Holdings Limited RELATES TYPE AND CLASS OF SECURITIES Ordinary shares NATURE OF TRANSACTION Purchase of shares by the Capitec Bank Holdings Share Trust to enable it to comply with its obligations in terms of the Share Incentive Scheme (On-market transaction) DATE OF TRANSACTION 24 April 2019 RAND PER SHARE 1 386.28 ave 1 384.00 min 1 390.00 max NUMBER OF SECURITIES TRANSACTED 62 304 TOTAL RAND VALUE OF SECURITIES R86 370 664.51 Clearance to deal in these securities was obtained in accordance with paragraph 3.66 of the Listings Requirements of the JSE Limited. 25 April 2019 Stellenbosch Sponsor PSG Capital Date: 25/04/2019 11:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

The unseen costs of dumping social upliftment we cant afford to lose

Barely four months into 2019 the economic squeeze is forcing cashstrapped consumers to be more costconscious than ever before.No wonder then that people want to believe the popular misconception that cheap chicken imports from Brazil save consumers money. Unfortunately this is not the case; even worse the impact of dumping on rural communities is deeply destructive and extends way beyond the terrible consequences of job losses.Local producers invest in local communities in ways that importers simply dont; offering training opportunities infrastructure improvements and much more.Dumping quite simply destroys that ability to contribute to society in ways other than direct job creation. Jeopardising this invaluable contribution should be avoided at all costs. Petsana Primary Schools new kitchen funded by Grain Fields.

Toshiba powers Virtual Power Plants with AI and IoT as markets move to...

Toshiba powers Virtual Power Plants with AI and IoT as markets move to decarbonisation Japanese tech giant Toshiba has announced that its Virtual Power Plants (VPP) initiative will be driven by artificial intelligence (AI) and Internet of Things (IoT) technologies as the energy industry worldwide shifts towards decarbonisation and new energy. In its press release on the matter, Toshiba highlighted the necessity for energy companies to continually adjust their output levels depending on demand and anticipated consumption, and the risk that mismanaged supply can lead to energy shortfalls. Toshiba's VPPs can be leveraged in advanced energy management by applying IoT and AI to aggregation of output information, simulating distribution across networks and "enabling fine adjustments and no-waste generation" through data-driven insights.

Kumba on track to meet 2019 guidance despite work stoppages at mines

JOHANNESBURG, April 25 (ANA) - Kumba Iron Ore said on Thursday that it was on track to deliver its sales and production guidance of 43 million tonnes to 44 million tonnes for 2019, with continued focus on improving  its health, safety and operational performance..

Everything is A-ok at SA government's largest pension fund, says head

The head of South Africa's largest state pension fund, Abel Sithole, has said the fund remains financially sound and employers would not need to increase contributions, despite concerns raised by Alexander Forbes Financial Services in a valuation. The Government Employees Pension Fund is Africa's largest, with over 1.2 million active members and more than 400 000 pensioners and beneficiaries. An Alexander Forbes actuarial valuation reported that, as of March 2018, the fund was facing a contribution shortfall of R5.6bn per year, or about 0.34% of the its liabilities.

Stabic Bank CEO Taban James on doing business in South Sudan

As South Sudan concluded its series of investment roadshows, the last stop was South Africa. CNBC Africa's Lubabalo Mashiqana caught up with Taban James, CEO, Stabic Bank - a bank that has been at the war-zoned country for seven years about the ease of doing business under those difficult conditions. The post appeared first on CNBC Africa ..

Lululemon is getting into the sneaker business

Women's yoga pants may be the cornerstone of Lululemon , but they were really just the start. From that foundation the brand has shrewdly expanded into a number of categories, from outerwear to running gear to men's clothes, which are rapidly approaching $1 billion in sales for Lululemon. The next category Lululemon wants to take on is sneakers.

NORTHAM PLATINUM LIMITED - Listing of new financial instruments NHM008 and NHM009

Release Date: 25/04/2019 12:00 Code(s): NHM008 NHM009 Wrap Text Listing of new financial instruments - NHM008 and NHM009 NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) Debt issuer code: NHMI Bond code: NHM008 Bond ISIN: ZAG000158858 Bond code: NHM009 Bond ISIN: ZAG000158866 ("Northam") LISTING OF NEW FINANCIAL INSTRUMENTS - NHM008 AND NHM009 The JSE Limited ("JSE") has granted approval for the listing of NHM008 and NHM009 Senior Unsecured Floating Rate Notes, under the Northam Platinum Limited ZAR2 000 000 000 Domestic Medium Term Note Programme dated 3 August 2012 ("Programme"), as guaranteed by Booysendal Platinum Proprietary Limited, with effect from 26 April 2019. The details pertaining to NHM008 are as follows: Instrument Type: Senior Unsecured Floating Rate Notes Total Notes in Issue: ZAR1 975 000 000.00 including this issue Instrument Code NHM008 Nominal Amount: ZAR200 000 000.00 Issue Price: 100% Interest Rate: 3 Month ZAR-JIBAR plus 240 bps, being 9.558% on the first Interest Rate Determination Date (3 Month ZAR- JIBAR as at 24 April 2019 of 7.158% plus 240 bps) Coupon Rate Indicator: Floating Issue Date: 26 April 2019 Interest Commencement Date: 26 April 2019 Interest Rate Determination Date(s): 24 April 2019, 26 July 2019, 26 October 2019 and 26 January 2020 Maturity Date: 26 April 2020 Final Redemption Amount: 100% of Nominal Amount Last Day to Register: By 17h00 on 15 July 2019, 15 October 2019, 15 January 2020 and 15 April 2020 Books Close Period: 16 July 2019, 16 October 2019, 16 January 2020 and 16 April 2020 Interest Payment Date(s): 26 July 2019, 26 October 2019, 26 January 2020 and 26 April 2020 ISIN No: ZAG000158858 Business Day Convention: Following Business Day Other: The applicable pricing supplement ("APS") contains additional terms and conditions to the terms and conditions as contained in the Programme Memorandum, dated 3 August 2012, ("Terms and Conditions") Summary of additional terms and conditions:

UPDATE 1-British American Tobacco sees 2019 profit growth in face of tighter regulations

(Adds details on U.S. regulation, background) April 25 (Reuters) - British American Tobacco Plc expects another year of good earnings growth in 2019, despite concerns of tighter regulations in the U.S., Chairman Richard Burrows said at the company's annual general meeting on Thursday. The world's second-largest tobacco company, in February, forecast "another year of high single figure adjusted constant currency earnings growth" for 2019 and noted a board proposal to increase its dividend by 4 percent.

Amplats Production Hit By Eskom Power Cuts

South African miner Anglo American Platinum Ltd's - Amplats - first-quarter production fell 6%, hit by problems at power supplier Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom, which supplies more than 90% of electricity in Africa's most advanced economy, pose a threat to miners who are among the biggest users of power in the country and are already grappling with weak profits. Amplats' total platinum group metal (PGM) production fell 9% to 998,900 ounces for the quarter ended on 31 March, from 1,062,800 ounces in the same period a year ago.

Business Dangote Flour Mills receives binding offer from Olam at a value worth $361 million

Africa's largest indigenous industrial conglomerate, Dangote Industries Limited (DIL) on Tuesday released a public disclosure, announcing the impending sale of its business division, Dangote Flour Mills Plc (DFM). The company may sell off its entire equity ownership to partner, global food and agribusiness leaders, Olam International Limited. As contained in the document, DFM notified its shareholders, The Nigerian Stock Exchange and the investing public that the Board of DFM has received a binding offer from Olam, to acquire all the outstanding and issued shares of DFM that are not currently owned by Olam through its subsidiary, Crown Flour Mills Limited. As at the date of this announcement, Olam, through its subsidiary, holds 5.113.229 shares in the issued share capital of DFM. The total consideration offered by Olam and being considered by the Board of DFM for the entire 5 billion issued shares of the Company is N130 billion.

Blac Chyna enrolls on Harvard Business School course

Blac Chyna has decided to further her education and has enrolled on a Business Analytics course at Harvard. The reality star received her acceptance letter from the prestigious institution on Monday (22Apr19), which welcomed her to the Harvard Business School online community and commented that her involvement in the course will be "invaluable" to her peers. The letter was obtained and published online by TMZ.

THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa - Issue of share instalments

Wrap Text SCIB: The Standard Bank Of South Africa - Issue of share instalments THE STANDARD BANK OF SOUTH AFRICA LIMITED ISSUE OF SHARE INSTALMENTS Underlying Instrument Issue size Exercise Price Ratio Warrant Style Exercise Date ISIN Codes JSE Codes Anglo American Plc 25 MILLION R 290.00 1 American Call 15-Apr-20 ZAE000272373 AGLSTA Anheuser-busch Inbev Sa/nv 25 MILLION R 950.00 1 American Call 15-Apr-20 ZAE000272332 ANHSTA British American Tobacco Plc 25 MILLION R 420.00 1 American Call 15-Apr-20 ZAE000272357 BTISTH Sasol Ltd 25 MILLION R 360.00 1 American Call 15-Apr-20 ZAE000272381 SOLSTA The Issuer Regulation Division of the JSE Limited ("JSE") has approved the listing of the abovementioned Share Instalments and trading will commence on 25 Apr 2019. All members of the JSE may participate in trading which will occur according to normal JSE Rules. Settlement will be effected electronically through Strate. Copies of the warrant issue documentation are available at the address stated below. 30 Baker Street Rosebank 2196 For further information contact : Standard Bank Warrants Tel 0800 111 780 Internet : www.warrants.co.za Sponsor: SBG Securities (Pty) Ltd (A subsidiary of the Standard Bank Group Limited) (Incorporated in the Republic of South Africa, 13 March 1962, Registration number 1972/008305/07) 25-Apr-19 Date: 25/04/2019 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

Capitec and Curro Holdings boost PSG Group recurring earnings

DURBAN JSElisted investment holding company PSG Group yesterday reported a 9 percent increase in recurring earnings per share for the year to end February boosted by the performance of Capitec and Curro Holdings.As a result recurring earnings per share increased to R10.86 a share up from R9.94 compared to last year. PSG Group chief executive Piet Mouton said while conditions were particularly demanding in the second half of the year with the consumer under continued pressure and the equities market yielding negative returns PSG Group was generally satisfied with the underlying investments performance.PSG Group remains well positioned for any recovery in the economy. However what is now needed is stability and clarity about policy to stimulate sustained growth which will particularly help companies in their startup phase Mouton said.Mouton said despite obvious challenges PSG Group remained positive about South Africa and the opportunities it presented.

5 Study tips from a small-town girl who just got into Harvard

Mossel Bay alumna shoots for the stars, reaches Harvard When Lara van Rooyen from Curro Mossel Bay, scored an esteemed 92.86% average to secure joint honours as Curro Holdings' IEB top academic achiever of 2018, it was clear that South Africa is dealing with a prodigious academic mind. Van Rooyen's talent has been recognised by one of the foremost academic institutions in the world, with Harvard University accepting her as a student for its next academic year. This Ivy League university, situated in Cambridge, Massachusetts in the United States, consistently ranks as one of the top three learning institutions worldwide.

THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa - Issue of share instalments

ANHSTA BTISTH AGLSTA SOLSTA 201904250039A SCIB: The Standard Bank Of South Africa - Issue of share instalments THE STANDARD BANK OF SOUTH AFRICA LIMITED ISSUE OF SHARE INSTALMENTS Underlying Instrument Issue size Exercise Price Ratio Warrant Style Exercise Date ISIN Codes JSE Codes Anglo American Plc 25 MILLION R 290.00 1 American Call 15-Apr-20 ZAE000272373 AGLSTA Anheuser-busch Inbev Sa/nv 25 MILLION R 950.00 1 American Call 15-Apr-20 ZAE000272332 ANHSTA British American Tobacco Plc 25 MILLION R 420.00 1 American Call 15-Apr-20 ZAE000272357 BTISTH Sasol Ltd 25 MILLION R 360.00 1 American Call 15-Apr-20 ZAE000272381 SOLSTA The Issuer Regulation Division of the JSE Limited (‘JSE') has approved the listing of the abovementioned Share Instalments and trading will commence on 25 Apr 2019. All members of the JSE may participate in trading which will occur according to normal JSE Rules. Settlement will be effected electronically through Strate. Copies of the warrant issue documentation are available at the address stated below. 30 Baker Street Rosebank 2196 For further information contact : Standard Bank Warrants Tel 0800 111 780 Internet : www.warrants.co.za Sponsor: SBG Securities (Pty) Ltd (A subsidiary of the Standard Bank Group Limited) (Incorporated in the Republic of South Africa, 13 March 1962, Registration number 1972/008305/07) 25-Apr-19 Date: 25/04/2019 12:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

BRITISH AMERICAN TOBACCO PLC - Speech by Richard Burrows Chairman at the British American Tobacco p.l.c. Annual General Meet

BTI 201904250042A Speech by Richard Burrows, Chairman, at the British American Tobacco p.l.c. Annual General Meeting on 25 April 2019 British American Tobacco p.l.c. Incorporated in England and Wales (Registration number: 03407696) Short name: BATS Share code: BTI ISIN number: GB0002875804 (‘British American Tobacco p.l.c.' or ‘the Company') 25 APRIL 2019 SPEECH BY RICHARD BURROWS, CHAIRMAN, AT THE BRITISH AMERICAN TOBACCO p.l.c. ANNUAL GENERAL MEETING ON 25 APRIL 2019 Good morning ladies and gentlemen. It is my pleasure to welcome you to British American Tobacco's 2019 Annual General Meeting. I am pleased to report that our 2018 results demonstrate that the business is in good shape.

MTN Nigeria is now a public company as it prepares to list on the Nigerian Stock Exchange

MTN Nigeria has changed its legal status in the west African country from a Private Limted Company (Ltd) to a Public Limited Company (Plc). This comes after several requests from Nigerian authorities that the South African headquartered mobile services provider list its Nigerian business on the Nigerian Stock Exchange (NSE). When making the announcement, MTN Nigeria CEO also concurred that this was an important step towards listing the telecommunications company on the NSE.

5 Study tips from a small-town girl who just got into Harvard

Mossel Bay alumna shoots for the stars, reaches Harvard When Lara van Rooyen from Curro Mossel Bay, scored an esteemed 92.86% average to secure joint honours as Curro Holdings' IEB top academic achiever of 2018, it was clear that South Africa is dealing with a prodigious academic mind. Van Rooyen's talent has been recognised by one of the foremost academic institutions in the world, with Harvard University accepting her as a student for its next academic year. This Ivy League university, situated in Cambridge, Massachusetts in the United States, consistently ranks as one of the top three learning institutions worldwide. As such, Van Rooyen is one of only 1 950 students accepted into Harvard College, the undergraduate programme of Harvard University, for the year. Lara van Rooyen from Curro Mossel Bay Starting in August, she hopes to major in Biology or Biochemistry, after which Van Rooyen will consider either going to medical school or becoming a research scientist.

NEPI ROCKCASTLE PLC - Notice of annual general meeting

Wrap Text Notice of annual general meeting NEPI Rockcastle plc Incorporated and registered in the Isle of Man Registered number 014178V JSE and Euronext share code: NRP ISIN: IM00BDD7WV31 LEI code: 549300FMWM53K9ULYT15 ("NEPI Rockcastle" or "the Company") NOTICE OF ANNUAL GENERAL MEETING Shareholders are referred to the announcement released on SENS on 15 March 2019 and are advised that the notice of the second annual general meeting of NEPI Rockcastle shareholders ("the AGM") was posted today, Thursday, 25 April 2019. The AGM will be held at the Company's registered office, being 2nd Floor, 30 Athol Street, Douglas, Isle of Man, IM1 1JB on Wednesday, 21 August 2019 at 8:00am British Summer Time/9:00am South African Standard Time, for shareholders to consider and, if deemed fit, pass with or without modification, the resolutions set out in the AGM notice. The record date to be recorded in the shareholder register in order to be entitled to vote at the AGM is Friday, 16 August 2019. A copy of the AGM notice is available on the Company's website: https://nepirockcastle.com/wp-content/uploads/2019/04/Notice-of-Annual-General-Meeting.pdf NEPI Rockcastle plc Mirela Covasa +40 21 232 1398 JSE sponsor Java Capital +27 11 722 3050 Euronext Listing Agent ING Bank +31 20 563 6799 Media Relations Brunswick Group +44 20 7404 5959 +27 11 502 7300 nepirockcastle@brunswick.com 25 April 2019 Date: 25/04/2019 11:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

GLENCORE PLC - GLN: Transactions In own Shares-24 April 2019.

Wrap Text GLN: Transactions In own Shares-24 April 2019. Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 25 April 2019 Transactions in own shares-24 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 24 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,250,000 Lowest price paid per share (GBp): 330.5500 Highest price paid per share (GBp): 337.0500 Volume weighted average price paid per share (GBp): 333.9971 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 772,157,649 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,814,042,417. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted average Trading

Strong dollar, growth fears push industrial metals lower

(Updates throughout, moves dateline from BEIJING) By Peter Hobson LONDON, April 25 (Reuters) - Prices of copper and most other industrial metals fell on Thursday as worries over the global economic outlook increased and the U.S. dollar hit its strongest in almost two years, making metals more expensive for buyers with other currencies. Benchmark copper on the London Metal Exchange (LME) was down 0.9 percent at $6,391.50 a tonne at 1024 GMT. The metal used in power and construction has been stuck around $6,500 since the end of February but is still up some 7 percent this year. "There's still quite a bit of uncertainty (about economic growth)," said ING analyst Warren Patterson. But he predicted that tight supplies and a likely U.S.-China trade deal would help lift copper to around $6,900 at the end of the year. LME STOCKS: Copper stocks in LME-registered warehouses rose by 8,675 tonnes to 194,800 tonnes, nearing 7-month highs touched earlier this month. SPREAD: The discount for cash copper against the three-month contract on the LME, however, shrank to $0.75 from $28 on April 18, suggesting less metal is immediately available.

Load-shedding results in Amplats losing 92,000oz of PGM output in first quarter

Based on the average price for PGMs in the three months, the unprocessed metal had a value of R1.59bn, most of which will be recouped in time Eskom's blackouts meant Anglo American Platinum (Amplats) was unable to process 92,000oz of metal, representing about 12% of its refined production for the first quarter of 2019. Based on the average price for platinum group metals (PGMs) in the three months, the unprocessed metal had a value of R1.59bn, most of which will be recouped in time. The world's largest platinum miner, which is 80% owned by Anglo American, divided the 92,000oz between its concentrators, which it was unlikely to recover, and its smelters, which it could recover over time if it had uninterrupted power supply from state power utility Eskom. Amplats lost 18,000oz of PGMs at its concentrators to what Eskom terms load-shedding, or a reduction in power supply to avoid damaging its infrastructure. This metal was worth R311m. A further 74,000oz of PGMs was unprocessed at its smelters.

Glencore says probed by U.S. CFTC for "corrupt practices"

April 25 (Reuters) - Glencore Plc said on Thursday the United States Commodity Futures Trading Commission is investigating whether the miner and its units may have violated certain regulations through "corrupt practices" in connection with commodities. (Reporting by Justin George Varghese in Bengaluru; Editing by Maju Samuel).

UPDATE 1-Glencore probed by U.S. CFTC for "corrupt practices"

(Adds details from statement, context on DoJ investigation) April 25 (Reuters) - Glencore Plc said here on Thursday that the U.S Commodity Futures Trading Commission (CFTC) is investigating whether the miner and its units may have violated certain regulations through "corrupt practices". The company said the investigations are at an early stage and have a similar scope in terms of subject matter as a current investigation by the U.S. Department of Justice.

#OneShow: What to expect from Creative Week 2019 in New York

The One Club for Creativity, nonprofit celebrating global excellence in advertising and design, has revealed the full schedule of events for Creative Week 2019, set to take place in New York from 6 to 10 May. " data-lazyauto="true"> Three global awards shows lead the week, kicking off with the ADC 98th Annual Awards (6 May), two nights of the 46th annual One Show (8 May and 10 May) and Young Ones Student Awards on 7 May. Creative Week 2019 will also feature: Executive Creative Summit The Executive Creative Summit (9 and 10 May) is an experience for a limited group of agency principals and C-suite creatives to engage in honest talk about running a creative business, with the goal of sharing ideas, insights, successes and failures.

INVESTEC PROPERTY FUND LIMITED - Interest Payment IPF24

Wrap Text Interest Payment IPF24 Investec Property Fund Limited Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration Number 2008/011366/06) JSE Code: IPF24 ISIN No: ZAG000149501 ("Investec Property Fund" or "the Fund") Noteholders are advised that Investec Property Fund Limited confirm the payments that are to be made in respect of the Interest Period starting 05-Feb-2019 and ending 05-May-2019. The Payment Date shall be on 06-May-2019. JSE Code: IPF24 ISIN Code: ZAG000149501 Nominal Amount R300,000,000.00 Interest Payment: R6,546,575.34 Total Amount Due: R6,546,575.34 Nominal Amount Outstanding: R300,000,000.00 Dated: 25-Apr-2019 Sponsor - Investec Bank Limited ("Investec") Date: 25/04/2019 12:14:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

Output at Amplats hit by Eskom power cuts

First quarter production down 6%. Miner Anglo American Platinum's (Amplats) first quarter production fell 6%, hit by problems at power supplier Eskom, operational challenges and ore stockpiling in the same period the year before. Power cuts implemented by Eskom, which supplies more than 90% of electricity in Africa's most advanced economy, pose a threat to miners which are among the biggest users of power in the country and are already grappling with weak profits. Read: Amplats' total platinum group metal (PGM) production fell 6% to 998 900 ounces for the quarter ended March 31, from 1 062 800 ounces in the same period a year ago. Eskom cut power across the country in February and March as low coal supplies, a severe cash crunch, and multiple failures at its ageing fleet of power stations throttled supply. Amplats said the power cuts hit PGM production at its Mogalakwena operations, which declined by 6% to 307 200 ounces, and at its Amandelbult operations, which decreased 7% to 192 800 ounces. In February, Amplats said it lost 14 000 platinum ounces when Eskom implemented five straight days of power cuts and was considering building a 100 megawatt solar power plant at its Mogalakwena operations. Amplats said if power disruptions persisted, there could be an impact on the timing of refining the built-up work-in-progress inventory in full, which it expects to have refined by the end of 2.

TIGER BRANDS LIMITED - Oceana Fractional entitlements and apportionment announcement

Wrap Text Oceana Fractional entitlements and apportionment announcement TIGER BRANDS LIMITED "Tiger Brands" or "the Company" (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 UNBUNDLING OF SHAREHOLDING IN OCEANA GROUP LIMITED ("OCEANA") ? CASH PROCEEDS IN RESPECT OF FRACTIONAL ENTITLEMENTS ? APPORTIONMENT OF TAX COST FOR SOUTH AFRICAN TAX PURPOSES 1. Introduction Shareholders of Tiger Brands ("Shareholders") are referred to the detailed terms, declaration and finalisation announcement released by Tiger Brands on the Stock Exchange News Service on 5 April 2019 ("the Unbundling Announcement") regarding the unbundling of the 49,104,774 shares in Oceana ("the Unbundled Shares") to Shareholders in the ratio of 25,86927 Unbundled Shares for every 100 shares held in Tiger Brands ("Tiger Brands Shares") on the close of business on Friday, 26 April 2019 ("the Unbundling"). The Unbundling amounts to a distribution in specie of the Unbundled Shares in terms of section 46 of the South African Income Tax Act, No.

British American Tobacco sees "good" earnings growth in 2019

April 25 (Reuters) - British American Tobacco Plc expects another year of good earnings growth in 2019, Chairman Richard Burrows said at the company's annual general meeting on Thursday. The second-biggest international tobacco company reported higher full-year adjusted sales and profit in February, helped by cigarette market share gains and growth in vaping devices. "Against a backdrop of a strong set of results and consequently rising share price, all of this, I believe, puts us is a strong position to deliver long-term sustainable growth," Burrows said.

Amplats, Kumba keep 2019 output numbers unchanged despite Q1 whiffles

- Facebook Twitter Google+ Pinterest WhatsApp PRODUCTION decreases at Anglo American Platinum (Amplats) and Kumba Iron Ore in South Africa were among the main features of Anglo American's first quarter production report, published today with declines in metallurgical coal the most influential metric for the period under review. On a copper equivalent basis, group production was 6% lower. Four-fifths of this decline was down to longwall moves at its Australian metallurgical coal mines, Anglo said.

Bekker High assists in large shoe donation

Bekker High School, together with other role players, attended a significant school shoe donation by the Ambassadors for Good Project (an Anglo American and De Beers employee volunteer programme) and local NPO, Making a Difference SA, where 700 learners from the Mphe Tutu Primary School received a brand new pair of school shoes, socks and a stationary pack. Making a Difference SA aims to deliver support to children and the youth through welfare and humanitarian activities, education and developmental activities, and health care activities. The police, Bekker High School, Health Training Centre and the Fire Department attended the event, volunteering their time and providing refreshments and treats for the children..

‘PIC poured over R9 billion into Steinhoff without required security..

Form here The Public Investment Corporation (PIC) poured R9.3 billion in a venture to buy Steinhoff shares and lost billions of rands just five months later because it did not wait for the required investment security. This is according to the acting head of legal, governance and compliance at the PIC, Lindiwe Dlamini. She testified before the judicial commission of inquiry into the PIC on Thursday.

Asian shares dip; euro weighed by sagging German business morale

* Asian stock markets: https://tmsnrt.rs/2zpUAr4 * Wall St shares hover below record highs, supported by earnings * Dollar brushes near 2-year peak, sterling stuck near 2-mth lows * Treasury curve steepest in 5 mths; underlying sentiment positive * BOJ decision due later Thur; Markets also eye U.S. Q1 GDP on Fri By Tomo Uetake TOKYO, April 25 (Reuters) - Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. The euro slumped to a 22-month low against the U.S. dollar overnight after the drop in German business confidence highlighted the divergence between data in the euro zone and the United States. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2 percent, while Japan's Nikkei average edged up 0.3 percent to 22,264.81 points. Overnight, Wall Street shrugged off some earnings misses but drifted lower at the end of the session, after the S&P 500 and the Nasdaq Composite registered record closing highs on Tuesday. Chotaro Morita, chief rates strategist at SMBC Nikko, noted hopes that the Chinese economy is bottoming out have contributed to recent rallies in global equities. "Corporate earnings that have been released so far suggests the worst period for the Chinese economy was over.

BUSINESS MAVERICK: Vedanta chairman may have his sights on Anglo, but a takeover will not be easy

The UK Telegraph reported on the weekend that Anglo American was girding itself for a potential takeover by Vedanta chairman and self-made Indian mining tycoon Anil Agarwal. This is no big surprise: Agarwal's over 20% stake in the venerable South African mining company rests on a convertible bond instrument that matures in 2020, when the Anglo shares can be transferred to the lenders. That means Agarwal has to act, by either refinancing his stake or raising it.

GLOBAL MARKETS-Asian shares dip; euro weighed by sagging German business morale

* Asian stock markets: https://tmsnrt.rs/2zpUAr4 * Wall St shares hover below record highs, supported by earnings * Dollar brushes near 2-year peak, sterling stuck near 2-mth lows * Treasury curve steepest in 5 mths; underlying sentiment positive * BOJ decision due later Thur; Markets also eye U.S. Q1 GDP on Fri By Tomo Uetake TOKYO, April 25 (Reuters) - Asian shares slipped on Thursday as a surprise deterioration in German business morale rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week. The euro slumped to a 22-month low against the U.S. dollar overnight after the drop in German business confidence highlighted the divergence between data in the euro zone and the United States.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.2 percent, while Japan's Nikkei average .N225 edged up 0.3 percent to 22,264.81 points. Overnight, Wall Street shrugged off some earnings misses but drifted lower at the end of the session, after the S&P 500 .SPX and the Nasdaq Composite .IXIC registered record closing highs on Tuesday.

SIX REASONS TO BUILD A WEBSITE FOR YOUR SMALL BUSINESS

By Stefano Maruzzi , Vice President for EMEA at GoDaddy   South Africans who have not yet invested in a digital home to call their own stand to gain significant benefits from creating a website.   Sure, social media accounts give you a digital presence of sorts. However, a well-established and up-to-date website where you control what people learn about you and your company, and can easily contact your company, is a powerful way to engage customers and inspire confidence.    Here are six reasons why a small business can benefit from creating a website of its own:   It's today's telephone directory   South Africans spend more than eight hours daily on the internet, mostly to find information in much the same way as they once used the Yellow Pages or their local newspaper.

Why Tech Investors Should Be Looking At Francophone And Lusophone African Markets

When it comes to news on startups, innovation, or funding in Africa, English-speaking markets seem to get most of the attention, but investment opportunities exist in African tech ecosystems dominated by other languages. Kenya, Nigeria and South Africa dominate funding reports with Francophone and Lusophone markets barely featuring, according to Disrupt Africa and Partech. Listen [ ] The post appeared first on Moguldom..

Helping Small Business To Thrive For A Better Future

Nearly six out of 10 people make a living from owning or working for a small business By Discovery These workplaces can have up to 250 employees, and in manufacturing about 1500. In South Africa, self-employment is often the main goal of a small business and a low number of them are formalised. That said, small businesses contribute almost 34% of gross domestic product each year.

THE STANDARD BANK OF SOUTH AFRICA LIMITED - SCIB: The Standard Bank Of South Africa - Expiry of warrants

Wrap Text SCIB: The Standard Bank Of South Africa - Expiry of warrants THE STANDARD BANK OF SOUTH AFRICA LIMITED - NOTICE OF EXPIRY OF STANDARD BANK WARRANTS 25/04/2019 Warrant Code Underlying Expiry Strike Style Ratio Issue Size ISIN Code ANGLO AMERICAN AGLSBQ PLC 07 May 19 R 295.00 European Put 120 100 Million ZAE000263448 ASPEN PHARMACARE APNSBB HOLDINGS LIMITED 07 May 19 R 190.00 American Call 95 100 Million ZAE000262796 BILSBV BHP GROUP PLC 07 May 19 R 271.35 European Put 105 100 Million ZAE000263455 BLUE LABEL BLUSBE TELECOMS LIMITED 07 May 19 R 6.00 American Call 2 100 Million ZAE000263372 EXXARO EXXSBD RESOURCES LIMITED 07 May 19 R 160.00 American Call 75 100 Million ZAE000263380 FSRSBE FIRSTRAND LIMITED 07 May 19 R 66.00 American Call 25 100 Million ZAE000263398 FSRSBU FIRSTRAND LIMITED 07 May 19 R 55.00 European Put 20 100 Million ZAE000263463 IMPALA PLATINUM IMPSBB HOLDINGS LIMITED 07 May 19 R 29.00 American Call 18 100 Million ZAE000263406 IMPALA PLATINUM IMPSBQ HOLDINGS LIMITED 07 May 19 R 25.00 European Put 16 100 Million ZAE000263471 NPNSBJ NASPERS LIMITED 07 May 19 R 2,704.95 American Call 1304 100 Million ZAE000263414 NPNSBW NASPERS LIMITED 07 May 19 R 2,318.53 European Put 918 100 Million ZAE000263489 SHOPRITE HOLDINGS SHPSBC LIMITED 07 May 19 R 200.00 American Call 70 100 Million ZAE000263422 SOLSBQ SASOL LIMITED 07 May 19 R 500.00 European Put 160 100 Millio

Anglo's first-quarter copper output rises, while met coal production disappoints

Two planned longwall moves at Anglo American's metallurgical coal operations made the biggest contribution to the company's 6% decrease in overall production for the quarter ended March 31. CE Mark Cutifani said in a statement on Thursday that isolated production issues at the Venetia diamond mine, as well as at the operations of its Kumba Iron Ore and Anglo American Platinum subsidiaries accounted for the balance decrease. However, these issues were offset by a stronger operational performance from its copper operations, with a 4% production increase, as well as the ramp-up at the Minas-Rio mine, in Brazil, progressing ahead of plan.

Govt, business should guard Internet together -British intelligence chief

GLASGOW, Scotland, April 24 (Reuters) - The head of Britain's GCHQ spy agency on Wednesday will call on businesses and the finance sector to work with intelligence officials to help secure the internet and protect customers online. In extracts of a speech to be given at a cyber security conference in Scotland, GCHQ head Jeremy Fleming said the signals intelligence agency would cooperate closely with manufacturers, internet service providers, online platforms and banks to "take the burden of cyber security away from the individual." The latest incarnation of the internet has enabled innovation and technological breakthroughs, Fleming said, but also brought "new and unprecedented challenges for policymakers as we seek to protect our citizens, judicial systems, businesses - and even societal norms." Western governments including Britain are pushing businesses and the public to take more precautions online and guard against threats posed by cyber criminals and nation state hackers. Fleming will speak at the CYBERUK conference, hosted by GCHQ's National Cyber Security Centre (NCSC) in Glasgow, Scotland. The conference will also host a public panel discussion by senior officials from countries in the Five Eyes intelligence-sharing group: Australia, Britain, Canada, New Zealand and the United States. "Cyber attacks do not respect international boundaries, and many of the threats and vulnerabilities we face are shared around the globe," said NCSC head Ciaran Martin. "Each nation has sovereignty to defend itself as it sees best fit, but it's vital that we work closely with our allies." (Reporting by Jack Stubbs and Michael Holden; Editing by David Gregorio) 2019-04-24 01.

Risk-on day in global markets beats rand, financial counters

The Alsi closed the day up 0.54%, with resources leading the charge. Matete Thulare, a market analyst at RMB, discusses the factors behind Tuesday's market movements, which saw financials close downbeat, losing 0.9% and the weaker rand, trading around 14.21 against the US dollar. Another interesting development was the oil price - fairly elevated at around $74.61/bbl. This, after the United States decided to withdraw waiver for a number of nations that had continued to import oil from Iran.

BUSINESS MAVERICK ANALYSIS: Central banks' musical chairs put independence up for grabs

A changing of the guards at central banks around the world at a time when the value of both political and operational central bank independence is up for debate could yield some surprises. History shows these can be pretty dramatic as tensions run high between presidents and bank governors. This year there's going to be an unheralded changing of the guard in central banks around the world, including two new incumbents at the SA Reserve Bank, 11 at the European Central Bank and two new Governors on the US Federal Reserve Board.

BUSINESS MAVERICK: Devil's in the detail as government toys with regulating Airbnb

Echoing calls to regulate ride-share platform Uber in South Africa, which has disrupted the taxi industry worldwide, has spilt over into the local tourism industry players, which have called for Airbnb to be regulated. The Department of Tourism has heard the cries, but not everybody is happy with the proposals. The Tourism Amendment Bill has created much angst among people making their living from providing short-term lodging on web-based platforms such as Airbnb.

Italy coalition fights over corruption probe as markets fret

ROME (Reuters) - Italy's government is not at risk and the cabinet will finally approve a long-delayed decree on Tuesday to boost economic growth, deputy Prime Minister and right-wing League leader Matteo Salvini said. FILE PHOTO: Matteo Salvini looks on next to Luigi Di Maio at the Quirinal palace in Rome, Italy, June 1, 2018. REUTERS/Tony Gentile/File Photo The League and its coalition partner, the anti-establishment 5-Star Movement, clashed angrily at the end of last week over a corruption scandal involving a top League official, reviving speculation the government might collapse.

Brazil markets cheer as pension reform passes congressional hurdle

BRASILIA (Reuters) - Brazilian markets rose on Tuesday after the path was cleared for a congressional committee vote on pension reform, a sign that the government is finally getting political backing for the most important element of its economic reform agenda. The benchmark Bovespa stock market index chalked up its best day in three weeks, closing 1.4 percent higher at 95,9234.24 points, while the real bounced back from a four-week low of 3.96 per dollar to end the day stronger at 3.9217. After President Jair Bolsonaro's government made several minor changes to the bill late on Monday, the Constitutional and Legal Affairs Committee (CCJ) finally analysed the social security reform bill on Tuesday.

‘But there's no tavern' - Residents still unhappy despite sweet deal to relocate to brand-new suburb

A new home, free municipal rates for 20 years, a decorating budget, R100 000 and more perks, but some Siyathemba residents are still unhappy It appeared to be a very sweet deal: a custom-built house, a R15 000 redecorating allowance, a R20 000 curtain allowance, 20 years of free municipal rates, and cash to replace their fruit trees and lawns. To sweeten it even more, there was R100 000 in cash, and professional movers were hired to relocate them 32km away to Siyathemba, a brand-new suburb of Kathu, in the Northern Cape. But still, some residents are unhappy.

BUSINESS MAVERICK: Shoprite's R3.3bn payout proposal to Christo Wiese could easily be voted down

When a company puts out an announcement involving R3.3bn on a Thursday afternoon before a long weekend, you have to wonder. And that is what the financial community has been doing about Shoprite's proposal to pay its chairman R3.3bn for high voting-power shares with an actual monetary value of, well, nothing. There are some who think it's a deal worth doing, but some significant shareholders on Tuesday said, very firmly, they would be voting against the proposal.

BUSINESS MAVERICK: Shoprite's R3.3bn payout proposal to Christo Wiese could easily be voted down

When a company puts out an announcement involving R3.3bn on a Thursday afternoon before a long weekend, you have to wonder. And that is what the financial community has been doing about Shoprite's proposal to pay its chairman R3.3bn for high voting-power shares with an actual monetary value of, well, nothing. There are some who think it's a deal worth doing, but some significant shareholders on Tuesday said, very firmly, they would be voting against the proposal.

RDI - Cromwell Property Group withdrawal

The Board of RDI notes the announcement by Cromwell that it does not intend to make an offer for RDI and that it is consequently bound by the restrictions under Rule 2.8 of the City Code on Takeovers and Mergers (the "Code"). Since the initial unsolicited approach from Cromwell, the Board has actively engaged with Cromwell in order to facilitate its due diligence requirements. However, following such engagement, the Board recently received a conditional proposal from Cromwell.

BUSINESS MAVERICK: After a bruising battle in the gold sector, tense wage negotiations loom in the platinum space

For the militant AMCU union, smarting from a disastrous five-month strike at Sibanye-Stillwater's gold mines that achieved nothing beyond making its members poorer, the stakes are high in pending wage talks. Amcu battered its way on to the platinum belt seven years ago in part because it was able to take advantage of platinum's company-by-company approach to wage negotiations. That is no longer an advantage.

BUSINESS MAVERICK: After a bruising battle in the gold sector, tense wage negotiations loom in the platinum space

For the militant AMCU union, smarting from a disastrous five-month strike at Sibanye-Stillwater's gold mines that achieved nothing beyond making its members poorer, the stakes are high in pending wage talks. Amcu battered its way on to the platinum belt seven years ago in part because it was able to take advantage of platinum's company-by-company approach to wage negotiations. That is no longer an advantage.

BUSINESS MAVERICK: After a bruising battle in the gold sector, tense wage negotiations loom in the platinum space

For the militant AMCU union, smarting from a disastrous five-month strike at Sibanye-Stillwater's gold mines that achieved nothing beyond making its members poorer, the stakes are high in pending wage talks. Amcu battered its way on to the platinum belt seven years ago in part because it was able to take advantage of platinum's company-by-company approach to wage negotiations. That is no longer an advantage.

JPMorgan ends a three-year bullish call on Anglo American shares

JP Morgan downgrades Anglo American to neutral, citing a number of concerns. Anglo American is no longer a darling at JPMorgan Chase & Co. After almost three years of rating the mining giant's stock as overweight, the firm downgraded it to neutral on Wednesday citing a trio of concerns — shares no longer look as cheap, the company's 2020 earnings may see a cut and capital returns may be constrained in the first half of the year. Shares slid as much as 3% in London, leading declines among basic-resource companies in the Stoxx 600. Anglo, which was "excessively cheap" relative to peers in the past, has narrowed the gap since, and no longer carries an "obvious South Africa risk premium," JPMorgan analyst Dominic O'Kane wrote in a note.

Business called to lead transformation in fishing industry

Agriculture, Forestry and Fisheries (DAFF) Minister, Senzeni Zokwana, has urged all players in the fishing industry to come to the party to ensure that the sector's transformation agenda is realised during the 2020 Fishing Rights Allocation Process (FRAP2020). "Substantive transformation in the fishing industry still remains a challenge and it needs all of us to work together to achieve such needed transformation in this sector. When we talk transformation in the fishing industry, we need to be honest in our discussions in order for government to adequately deliver and achieve on this imperative," Zokwana said.

HYPROP INVESTMENTS LIMITED - HILB04-Interest Payment Amount

HILB04 201904240050A HILB04-Interest Payment Amount HYPROP INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1987/005284/06) (Approved as a REIT by the JSE) (‘Hyprop' or ‘the Company') Issuer Code: HYPI Interest Payment Notification In accordance with paragraph 4.13(b) of the JSE Debt Listings Requirements, noteholders are hereby advised of the interest amount details as follows: Total Interest Amount in Instrument Interest Payment Interest Rate respect of Aggregate Nominal Code Dates % Amount HILB04 2 May 2019 8.690% R 9 642 328.77 Johannesburg 24 April 2019 Debt Sponsor The Standard Bank of South Africa Limited (Debt Sponsor) Kea Sape Tel: 011 344 7654 Email: kea.sape@standardbank.co.za Date: 24/04/2019 04:18:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

Gold worth billions smuggled out of Africa

NAIROBI, April 24 (Reuters) - Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reuters analysis has found. An artisanal miner climbs out of a gold mine with a bag of rocks broken off from inside the mining pit at the unlicensed mining site of Nsuaem Top in Ghana, November 24, 2018. Picture taken November 24, 2018.

Dollar rises broadly; euro slips on German business sentiment drop

* Australian dollar sheds 1 pct after softer CPI * Sterling at 2-month lows as dollar and Brexit weigh (New throughout, updates rates and comments to to U.S. market open; new byline, changes dateline, previous LONDON) By Saqib Iqbal Ahmed NEW YORK, April 24 (Reuters) - The euro fell against the U.S. dollar on Wednesday after a surprise drop in a leading indicator for economic activity in Germany highlighted the divergence between economic data in the United States and the euro zone. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe's largest economy. The euro fell 0.32% to $1.1189, close to the lowest it has been since early March. The greenback, by contrast, was supported by strong U.S. housing data, the latest signal the American economy is outperforming rivals. "The broader importance of the German data is that market participants had been hoping that the rebound in Chinese monetary conditions, in lending in China, would help to boost demand for German exports and would lift spirits in the euro zone's core economies," said Karl Schamotta, director of foreign exchange strategy and structured products at Cambridge Global Payments. "We are seeing successive prints that show that Germans are not necessarily turning more positive here," said Schamotta. "Trade pressure and concerns about global protectionism are weighing over Europe's overall external position and challenging its growth trajectory.

Gold worth billions being smuggled out of Africa via UAE

Nairobi Billions of dollars worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East a gateway to markets in Europe the United States and beyond a Reuters analysis has found.Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016 more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes in varying degrees of purity up from 67 tonnes in 2006.Much of the gold was not recorded in the exports of African states. Five trade economists interviewed by Reuters said this indicates large amounts of gold are leaving Africa with no taxes being paid to the states that produce them.Previous reports and studies have highlighted the blackmarket trade in gold mined by people including children who have no ties to big business and dig or pan for it with little official oversight.

2nd Annual Africa Business and MICE Tourism Master Class to be held in Johannesburg from 10 - 12 June, 2019 24 April 2019 Re

Johannesburg, 2nd April, 2019: The 2nd edition of the Africa Business and MICE Master Class will be held in Johannesburg at the BDO South Africa offices from 10 to 12 June, 2019. This programme will grant industry professionals and practitioners from across Africa an opportunity to learn from renowned industry experts, connect with like-minded individuals and benefit from first-hand advice on how to advance growth in their organisations, businesses and destinations. This class will be presented by Africa Tourism Partners and its lead strategic partners, BDO South Africa and South Africa Conference Association Industry (SAACI).

Moody's hails end of Sibanye gold strike and its capital

Ratings agency puts the cost of the five-month strike at R2.2bn, but says ending the action and raising $245m is credit positive The end of Sibanye-Stillwater's five-month gold strike and its raising of $245m earlier this month were "credit positive", ratings agency Moody's Investors Service says, noting the company lost R2.2bn to the industrial action. Sibanye CEO Neal Froneman said on April 17 at the signing of a wage accord with the Association of Mineworkers and Construction Union (Amcu) that the company had lost R1.6bn to the strike, but company spokesperson James Wellsted said this figure was only up to the end of the March quarter and that a more accurate figure was closer to the Moody's number. Moody's downgraded Sibanye in February, leading to an angry response by Charl Keyter, the company CFO, who tore into the agency's methodology in assessing its financial risk, calling it "fatally flawed" at the group's annual results presentation in February. In February's downgrade, Moody's flagged potential risk in Sibanye's ability to refinance a nearly fully drawn R6bn revolving credit facility (RCF) that matures in November 2019. It raised the issue of the poor safety performance in the gold division in the first half of 2018 and the protracted nature of the Amcu strike. The February note warned of potential strikes stemming from platinum sector wage talks in SA. Amcu is by far the most powerful and largely represented union at Sibanye's platinum operations and, once the takeover of Lonmin is concluded before June, there will be additional assets where Amcu is the sole recognised union.

DNA Brand Architects wins big at 2019 PRISM Awards

Marketing and brand consultancy, DNA Brand Architects, walked away with the biggest award at the 2019 PRISM Awards making history as the first 100% black-owned agency to take home the coveted Campaign of the Year trophy since the PRISM Awards inception twenty-two years ago. The PRISM Awards are Africa's most sought-after awards in the public relations industry. Under the management of one of Africa's most influential young leaders, Sylvester Chauke, DNA Brand Architects was presented with six awards at the prestigious ceremony including the principal award for the night for its AB InBev Lion Lager digital series campaign, iLobola Nge Bhubesi.

UPDATE 1-South Africa's Life Healthcare warns on earnings after disposal

(Adds shares, details) JOHANNESBURG, April 24 (Reuters) - South Africa's Life Healthcare said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India's Max Healthcare, impairments and other investments. Shares in the company fell 5.30 percent to 26.27 rand after the private hospital operator predicted headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. HEPS is the main profit measure used in South Africa and strips out certain one-off items.

ABSA GROUP LIMITED - Appointment of Independent Non-Executive Director

ABG 201904240031A Appointment of Independent Non-Executive Director Absa Group Limited (formerly known as Barclays Africa Group Limited) Incorporated in the Republic of South Africa Registration number: 1986/003934/06 JSE share code: ABG ISIN: ZAE000255915 (‘Absa Group') APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR In accordance with paragraph 3.59 (a) of the JSE Listings Requirements, shareholders are advised of the appointment of Mr Sipho Pityana as independent non-executive director to the Board of Absa Group with effect from 1 May 2019. Sipho holds a Bachelor of Arts (Honours) degree from the University of Essex and a Master of Science degree from the University of London. He is a former executive director of Nedcor Investment Bank Holdings (2002 - 2004), responsible for strategic business development. Sipho is the founder and chairman of Izingwe Capital, a black-owned investment company founded in 2004, which invests in a number of South Africa's blue chip corporates. He is also the non-executive chairman of JSE listed companies AngloGold Ashanti and Onelogix Group. He is the president of Business Unity South Africa (BUSA) and a member of the Community of Chairmen of the World Economic Forum. Johannesburg 24 April 2019 Enquiries: Nadine Drutman (Group Company Secretary) Nadine.Drutman@absa.africa Tel: 011 350 5347 Independent lead sponsor to Absa Group: J.P. Morgan Equities South Africa Proprietary Limited Joint sponsor to Absa Group: Corporate and Investment Bank, a division of Absa Bank Limited Date: 24/04/2019 01:55:00 Produced by the JSE SENS Department.

BUSINESS MAVERICK: Devil's in the detail as government toys with regulating Airbnb

Echoing calls to regulate ride-share platform Uber in South Africa, which has disrupted the taxi industry worldwide, has spilt over into the local tourism industry players, which have called for Airbnb to be regulated. The Department of Tourism has heard the cries, but not everybody is happy with the proposals..

South African party funding under the spotlight

With two weeks before the most hotly-contested election since the end of apartheid, party political advertising is on the increase. From innovative television and radio advertisements, massive billboards across the major cities and highways across the country, political parties are going all out to win the hearts and minds of millions of South African voters. "Parties burn through money when it is election time… and it is extremely important to see where they get their money from", says director of MyVoteCounts (MVC) Joel Bregman, a transparency NGO. In 2016, the ANC said it spent over R1bn for the 2016 local government election. The ANC's Nomvula Mokonyane said the party had spent the money on buying T-shirts, holding rallies and paying party volunteers. It later said it spent over R350 million. The same Nomvula Mokonyane is alleged to have received monthly payment of 50,000 rand a month during the recent Zondo Commission The DA told the Sunday Times in July 2016 ‘ said its own election budget of R350m was likely to be exceeded thanks to private funders." So who funds political parties? A new report by MVC details who is financing the major parties. And it is not easy reading. From the big bucks paid by Bosasa for access to state contracts, to the big donations from India and China to the ANC, to the chunk of cash given by telecoms operator MTN to the Democratic Alliance (DA), to the money that flowed from VBS Mutual Bank to the Economic Freedom Fighters (EFF) ‘Highlights' from the report: African National Congress The ruling party has been receiving regular gifts up to between 4-6m rand monthly from Bosasa A company awarded almost R2-billion in tenders from state-owned enterprise, Impulse International, paid R1.7-million in two instalments into an ANC affiliated bank account.

Business Maverick: Wednesday April 24: Five Things You Need to Know to Start Your Day

U.S. Stocks Rally to Record on Earnings Surprises The S&P 500 and Nasdaq reached new milestones as Twitter, Lockheed Martin and Hasbro climbed following favorable first-quarter reports, adding to a rally led by the biggest technology companies. Crude also extended its climb as the U.S. tightened the screws on Iran. Saudi Arabia is ready to boost output, but wants to first see a drop in Iranian shipments, people familiar said.

Euro falls on weak German business morale, stocks slip

(Adds U.S. market open, byline, dateline; previous LONDON) * Dollar rises broadly, supported by U.S. economic data * Stocks on Wall Street rally, European shares decline broadly * Oil steady as high U.S.

Business Access Bank commits N1billion to promote health SMEs in Nigeria

As part of its commitment to support start-up businesses, Access Bank Plc has pledged N1Billion for Small and Medium-scale Enterprises (SMEs) in the health sector. This was disclosed at the recently held According to Victor Etuokwu, Executive Director, retail banking, Access Bank Plc, "Increasing lending support to the private sector would further boost the performance of the economy. This programme is the first business workshop after the merger with Diamond Bank.

Wool industry urged to diversify export markets

Call by the Agricultural Business Chamber follows the suspension of imports from SA by China due to an outbreak of foot-and-mouth disease SA should intensify efforts to diversify its wool export markets to remain viable, the Agricultural Business Chamber (Agbiz) says. This follows the temporary suspension of wool imports from SA by China due to a foot-and-mouth disease (FMD) outbreak. The wool industry suffered a major setback a few weeks ago following the move by China. The disease broke out in Limpopo in January, resulting in the World Organisation for Animal Health (OIE) temporarily suspending SA's FMD-free zone status. Wool is ranked the sixth-largest exportable commodity in SA's agricultural sector. In 2018, wool accounted for 4% of SA's agricultural exports of $10.6bn.

Business News - 23 April 2019

Eskom is not about to collapse, says Gordhan. Combined Motor Holdings has had a tough financial year and Omnia is in talks with lenders to restructure the group's debt..

Business Illicit financial flows to Kenya, Uganda helps to fuel the crisis in South Sudan - IEA

Kenya and Uganda have become the main hubs for illicit financial flows (IFFs) in East Africa, a new report by the The loot reportedly comes from top South Sudanese military and government officials, who continue to invest in both Uganda and Kenya without restriction. On the part of Nairobi and Kampala, the report said that well-connected businessmen in the countries aid Also, South Sudan's top officials engage in currency speculation. This is encouraged by the huge disparity between the exchange rates of the official Bank of South Sudan and those on the black market.

JPMorgan no longer enamoured with Anglo American

London — After almost three years of rating the mining giant's stock as overweight, JP Morgan Chase downgraded it to neutral on Wednesday citing a trio of concerns: shares no longer look as cheap; the company's 2020 earnings may see a cut; and capital returns may be constrained in the first half of the year. Shares slid as much as 3% in London, leading declines among basic-resource companies in the Stoxx 600. Anglo American, which was "excessively cheap" relative to peers in the past, has narrowed the gap since, and no longer carries an "obvious SA risk premium," JP Morgan analyst Dominic O'Kane wrote in a note. He recommends a "tactical" long on Glencore Plc against a short Anglo American based on momentum, superior shareholder returns and better risk/reward ahead of the next earning season. Anglo now faces serious risks ahead, with a high degree of uncertainty about its Minas Rio tailing dam project in Brazil, O'Kane wrote. Without an approval by the end of the year, it will have a 20% negative impact on 2020 earnings, he estimates. The potential delay in the approval could also weigh on Anglo's capital return when the company reports its first-half earnings on July 25. The miner's stock has jumped about 170% since JP Morgan turned overweight in July 2016, including a boost from Indian billionaire and Vedanta owner Anil Agarwal increasing his stake in the miner in 2017.

Regulator sparks mini Vodacom, MTN sell off #DataMustFall

(Bloomberg) -  Vodacom Group Ltd. and MTN Group Ltd. shares fell after one of South Africa's competition regulators ruled that the country's two largest mobile-phone companies overcharge customers for data - particularly those on lower incomes.

Business Google joins Safaricom on its latest digital campaign in Kenya

Following the The smartphone campaign, which sees the The partnership with Google gives Safaricom access to Android Oreo (Go edition), a new version of Google's Android mobile operating system that features apps using less memory, storage space, and data. This means users get more storage space for themselves while enjoying the high-quality digital experience. According to Safaricom's Chief Customer Officer, Sylvia Mulinge, Safaricom aims to transform lives by providing solutions to people with affordable phone options, which will allow customers to enjoy a superior digital experience without stretching their finances. Safaricom's collaboration with Google (developer of Android) is in line the latter's mission to "bring the power of computing to everyone in order to ensure great experience across the broadest range of devices," as revealed by the company's Director of Africa Android Partnerships, Mahir Sahin.

Steps being taken to restore Saica's reputation following accounting scandals

Accountability will shape the culture, governance processes. The South African Institute of Chartered Accountants has come under a great deal of flack after a number of its professionals were found wanting in the exercise of their audit function in the last number of years. This is on the back of scandals in relation to state capture with the Guptas in the mix, Steinhoff and other corporate scandals. Ryk van Niekerk caught up with SAICA's new CEO Freeman Nomvalo to find out how he plans to restore the chartered accountancy profession to its former glory..

Private school slammed over entrance test

A parent is fuming after Waterstone College, a Curro school in the south of Johannesburg, refused to admit his son because he failed the entrance tests. This was despite recent comments by Curro Holdings chief executive Andries Greyling to the Sunday Times that "no child will ever be denied admission based on the outcome of this test". It follows the case of a businesswoman who was left bitterly disappointed after Crawford College Pretoria said her 12-year-old daughter "did not do well" in the entrance test..

UPDATE 1-South Africa's Tongaat to restate prior results after accounting review

(Adds details on review, share price, background) April 24 ( ) - South African sugar producer Tongaat Hulett Ltd TONJ.J said on Wednesday it would restate prior financial information after a formal review revealed certain accounting practices that needed to be re-examined. The company said it had started implementing a turnaround plan and that the review included timing and recognition of land sales, as well as assessment of various assets for impairment. have been jittery about accounting irregularities after multinational retailer Steinhoff International Holdings NV SNHJ.J revealed a more than $12 billion hole in its accounts in December 2017, which wiped out more than 90 percent of its market value. Tongaat, which has operations in South Africa, Mozambique and Zimbabwe, said last month a review was being carried out by newly appointed CEO Gavin Hudson and it had revealed past accounting practices that may require remedial action. company said on Wednesday it was reviewing its strategic and financial position to stabilise its business and debt levels. Tongaat, whose net debt stood at 7.754 billion rand ($539.54 million) as of Sept.

Congo s road toll saga [Business segment]

As a way to finance the construction of more roads and to help offset debt incurred in developing infrastructure, many African governments are introducing charges for road users. But toll fees are largely unpopular. In the Republic of Congo, the government is locked in a conflict with truckers over charges on the National Highway number one that runs from the port city of Pointe-Noire to the capital, Brazzaville.

South Africa's Life Healthcare warns on earnings after disposal

NETCARE:   2,368     -41 (-1.70%)   24/04/2019 00:00 (Adds shares, details) JOHANNESBURG, April 24 (Reuters) - South Africa's Life Healthcare said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India's Max Healthcare, impairments and other investments. Shares in the company fell 5.30 percent to 26.27 rand after the private hospital operator predicted headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. HEPS is the main profit measure used in South Africa and strips out certain one-off items. In September, Life Healthcare said it would sell its 49.7 percent stake in Max Healthcare to KKR-backed Radiant Life Care Pvt Ltd for 4.3 billion rand ($300 million). Life Healthcare also cited a 256 million rand marked-to-market valuation loss related to the disposal, as one of the factors impacting HEPS, along with an increase in contingent consideration relating to past company acquisitions. Marked-to-market accounting is a way of valuing assets based on how much they could sell for under current market conditions. Group revenue is expected to rise by between 8.6 percent and 10.4 percent, while normalised earnings before interest, tax, depreciation and amortization (EBITDA) will increase as much as 4.8 percent. Life Healthcare competes with listed rivals Mediclinic International and Netcare Ltd. Last Wednesday Mediclinic hit a more than three-month high on after it reassured investors with a forecast for net profit that was in line with market expectations despite a tough business backdrop. ($1 = 14.3247 rand) (Reporting by Nqobile Dludla; editing by Jason Neely and Elaine Hardcastle) 2019-04-24 13.

RDI REIT PLC - Change to the board

RPL 201904240034A Change to the board RDI REIT P.L.C. (‘RDI' or the ‘Company') (Incorporated in the Isle of Man) (Registered number 010534V) LSE share code: RDI JSE share code: RPL ISIN: IM00BH3JLY32 LEI: 2138006NHZUMMRYQ1745 CHANGE TO THE BOARD Following Bernie Nackan's retirement from the Board in January 2019, RDI, the income focused UK-REIT, today announces the appointment of Pieter Prinsloo as a non-executive director of the Company, with immediate effect. Pieter will represent Redefine Properties Limited, RDI's largest shareholder, on the Board, alongside Marc Wainer. Pieter brings with him more than 30 years of experience in property investments, development, management and finance having held senior positions at Sanlam Properties, Standard Bank Properties and Absa Commercial Property Finance. He most recently held the post of CEO of Hyprop Investments Limited, a South African property REIT, before his appointment this year as CEO of Redefine Europe B.V., a subsidiary of Redefine Properties Limited No further details are required to be disclosed under the Listing Rule 9.6.13. For further information: RDI REIT P.L.C. Mike Watters, Stephen Oakenfull, Tel: +44 (0) 20 7811 0100 FTI Consulting UK Public Relations Adviser Dido Laurimore, Claire Turvey, Ellie Sweeney Tel: +44 (0) 20 3727 1000 Instinctif Partners SA Public Relations Adviser Frederic Cornet Tel: +27 (0) 11 447 3030 JSE Sponsor Java Capital Tel: + 27 (0) 11 722 3050 24 April 2019 Note to editors: About RDI RDI is a UK Real Estate Investment Trust (UK-REIT) committed to becoming the UK's leading income focused REIT.

National Arts Festival 2019: Highlights from the stellar line-up and where you can get tickets

Makhanda - Held in Makhanda (formerly Grahamstown) from 27 June - 7 July 2019, the main programme for National Arts Festival forms part of a much broader offering of independent works and multiple focus areas for discussion and experience.  It is a richly stimulating and thought-provoking journey through some of the issues at the top of artists' minds and makes for a deep dive into what South Africa is grappling with and can reimagine if it has the will.  A REFLECTION ON IDENTITY:  Core to the mood of the 2019 programme is a desire to reflect on identity. From the rich celebrations of indigenous African music and dance to reworkings of classical and contemporary pieces, there is a desire to explore culture and connection, land and belonging. As if a talisman for this journey, 2019 Standard Bank Young Artist for Dance Kitty Phetla has collaborated with 2015 Standard Bank Young Artist for Jazz Nduduzo Makhathini for a dance titled Going Back To The Truth Of Space .

Fun at the Brooklyn Square Rooftop Antique Markets

Pretoria's oldest antique market returns to Brooklyn Square on 1 May and everyone is invited.  If you enjoy hunting for treasures, be sure to diarise the Brooklyn Square Rooftop Antique Markets for the 1 st of May and 16 th of December. The markets are hosted on public holidays, so gather the family & head down to Brooklyn Square for fun, food & loads of shopping! With a wide range of antiques, collectables, vintage clothing and jewellery, glass, toys, silver, art, porcelain, handmade clothing, decor items and lots more there really is something for everyone, so make sure to swing by! Markets will be held on 1 May and 16 December and runs from 8:30am until 4pm. Entry is R30 per person and will be donated in aid of the SPCA.

Plastic bags have now been banned at these Woolworths stores in Gauteng and KZN

The production of the low cost reusable bag has resulted in over 129, 000 plastic bottles being recycled and made into the bag's fabric. Photo Jay Caboz Woolworths will now have four plastic-bag free stores across the country. Since November last year, the company has now sold 110,000 R5 black fabric bags.  Almost 130,000 plastic bottles were recycled to manufacture these bags.

Brexit woes continue to rock UK property as small Atlantic Leaf seeks investors

Currency uncertainty combines with real estate downturn to cripple equity growth. The uncertainty of Britain leaving the European Union adds to the currency woes of UK property companies already sidelined from raising more capital by a stock market that trades their shares at a discount to their underlying assets. The combination handcuffs the ability of small real estate investment trust such as London-based Atlantic Leaf Properties, which has assets of £371.7 million and almost all of its shareholders in South Africa, to be a more widespread rand hedging opportunity for investors. "Brexit has been more challenging on the equity side to raise capital," Atlantic Leaf CEO Paul Leaf-Wright said by phone from Cape Town.

UPDATE 1-South Africa's Life Healthcare warns on earnings after disposal

(Adds shares, details) JOHANNESBURG, April 24 ( ) - South Africa's Life Healthcare LHCJ.J said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India's Max Healthcare MAID.NS , impairments and other investments. Shares in the company fell 5.30 percent to 26.27 rand after the private hospital operator predicted headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. HEPS is the main profit measure used in South Africa and strips out certain one-off items. In September, Life Healthcare said it would sell its 49.7 percent stake in Max Healthcare to KKR-backed KKR.N Radiant Life Care Pvt Ltd for 4.3 billion rand ($300 million). Healthcare also cited a 256 million rand marked-to-market valuation loss related to the disposal, as one of the factors impacting HEPS, along with an increase in contingent consideration relating to past company acquisitions. Marked-to-market accounting is a way of valuing assets based on how much they could sell for under current market conditions. Group revenue is expected to rise by between 8.6 percent and 10.4 percent, while normalised earnings before interest, tax, depreciation and amortization (EBITDA) will increase as much as 4.8 percent. Life Healthcare competes with listed rivals Mediclinic International MEIJ.J and Netcare Ltd NTCJ.J .Last Wednesday Mediclinic hit a more than three-month high on after it reassured investors with a forecast for net profit that was in line with market expectations despite a tough business backdrop. = 14.3247 rand).

Woolworths announces next phase in plastic bag free trial

After a six-month trial in four of its Western Cape stores, including the launch of their first plastic bag free store, Woolworths confirms that it will be rolling out its new low-cost, reusable bag to more stores across the country as well as announcing three more ‘plastic shopping bag free' stores.   During the trial, which was launched in November 2018, over 100 000 single-use bags were saved from going out into the environment as customers opted for affordable, reusable shopping bags. Steenberg Village Woolies stopped selling single use plastic bags completely.

Kraft Heinz hires global brand expert Miguel Patricio as CEO

Kraft Heinz named Miguel Patricio as its next chief executive in the hopes that the 30-year marketing veteran will revitalize brands such as Planters nuts and Oscar Mayer bacon at one of the world's largest packaged food companies.   Patricio, a native of Portugal, will take over the top job in July after two decades at Anheuser-Busch InBev, where he rose to become the company's global head of marketing, building sales of beer brands Corona, Budweiser and others. Before AB InBev, Patricio worked at major consumer companies including Philip Morris, Coca-Cola and Johnson & Johnson.

Vodacom harnesses ICT to empower learners, farmers and teachers

The Chief Officer Corporate Affairs Vodacom Group,  Ms Takalani Netshitenzhe, has said that Vodacom has allocated R500 million to education, gender empowerment and sanitation in schools over the next five years. She made the statement while speaking at the 2019 Trialogue Business in Society Conference in Johannesburg on Wednesday 17th April. The Trialogue Business in Society Conference brought together more than 400 stakeholders in development to discuss sector challenges, lessons and innovations.

ANHEUSER-BUSCH INBEV SA/NV - Anheuser-Busch InBev General Shareholders Meeting approves dividend payment 2018

ANH 201904240039A Anheuser-Busch InBev General Shareholders Meeting approves dividend payment 2018 Anheuser-Busch InBev SA/NV (Incorporated in the Kingdom of Belgium) Register of Companies Number: 0417.497.106 Euronext Brussels Share Code: ABI Mexican Stock Exchange Share Code: ANB NYSE ADS Code: BUD JSE Share Code: ANH ISIN: BE0974293251 (‘AB InBev' or the ‘Company') Anheuser-Busch InBev General Shareholders Meeting approves dividend payment 2018 The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market. Anheuser-Busch InBev (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) (the ‘Company') is pleased to announce that the General Shareholders Meeting of 24 April 2019 has approved the annual accounts for the year ended 31 December 2018, as well as the gross total dividend for 2018 of EUR 1.80 proposed by the Board of Directors. Taking into account the gross interim dividend of EUR 0.80 per share paid in November 2018, a gross final dividend of EUR 1.00 will be payable upon presentation of coupon n° 26. The calendar for the payment of the final dividend is as follows: Dividend timeline Ex-coupon date Record date Payment date Euronext: ABI 7 May 2019 8 May 2019 9 May 2019 MEXBOL: ANB 7 May 2019 8 May 2019 9 May 2019 JSE: ANH 7 May 2019 10 May 2019 13 May 2019 NYSE: BUD (ADR Program) 7 May 2019 8 May 2019 6 June 2019 Restricted Shares 7 May 2019 8 May 2019 9 May 2019 The General Shareholders Meeting has also approved the following resolutions: • Amendments to articles 4 (Corporate Purpose) and 23 (Chairperson of the Board) of our Bylaws. • Granting discharge to the directors and to the statutory auditor of the Company for the performance of their duties during the financial year 2018.

Cellular telephones recovered and two suspects arrested shortly after a business robbery in Philippi

Media Statement South African Police Service Office of the Provincial Commissioner Western Cape The quick response by Cape Town K9 Unit members landed two suspects behind bars yesterday for the possession of stolen property shortly after a retail store was robbed in Junction Mall. The 75 cellular telephones and the cash which were taken during the robbery were recovered, as well as empty cellular telephone boxes, perfumes and a saxophone, believed to have been stolen during other robberies. The two female occupants that were found at the residence in Giyo-Giyo Street Crossroads, aged 70 and 21 were arrested while the four suspects who perpetrated the robbery are still being sought.

Entry deadline extended for Marketer of the Year award

Print Email The nomination process for the Marketer of the Year award at the inaugural Marketing Achievement Awards is still open, having been extended until mid May. In a statement, the organisers said this decision was taken because, "We did not receive a broad enough range of candidates to be reflective of the diversity and calibre of talent in our marketing industry as a whole. "With this being the first year we are holding the awards, it is imperative that we set the bar as high as possible and we wanted to ensure that the shortlist of candidates reflected the best-of-the-best in the local marketing fraternity," they explained.

South Africa's Tongaat to restate prior results after accounting review

(Reuters) - South African sugar producer Tongaat Hulett Ltd said on Wednesday it would restate prior financial information after a formal review revealed certain accounting practices that needed to be re-examined. The company said it had started implementing a turnaround plan and that the review included timing and recognition of land sales, as well as assessment of various assets for impairment. Investors have been jittery about accounting irregularities after multinational retailer Steinhoff International Holdings NV revealed a more than $12 billion hole in its accounts in December 2017, which wiped out more than 90 percent of its market value. Tongaat, which has operations in South Africa, Mozambique and Zimbabwe, said last month a review was being carried out by newly appointed CEO Gavin Hudson and it had revealed past accounting practices that may require remedial action. The company said on Wednesday it was reviewing its strategic and financial position to stabilise its business and debt levels. Tongaat, whose net debt stood at 7.754 billion rand ($539.54 million) as of Sept. 30, 2018, said in February it had entered into discussions with its lenders. The company appointed PricewaterhouseCoopers (PwC) last month to review its accounting practices. Tongaat's shares, which had fallen 23 percent since revealing the accounting issue last month, were down 3.6 percent at 22.64 rand. The company's shares have been on a downward trajectory since it warned in February that it expected a full-year loss due to a sugar tax in South Africa and higher sugar imports.

Dozens Of Child Slaves Rescued By Interpol In West Africa Markets

Children are silhouetted in front of posters displayed during a prayer for Justice and Protection against Sex Trafficking of Children and Young People. Picture: AFP Police have rescued 216 human trafficking victims, mainly children, from forced labour and prostitution in a major operation in Benin and Nigeria, Interpol said on Wednesday. Operation Epervier II involved 100 police officers across the two countries who rescued 157 child slaves, said the global police organisation, which coordinated the raids in early April.

PE Business News: Ernst Middendorp wants Pule Ekstein to stay at Chiefs

PE : Ernst Middendorp wants Pule Ekstein to stay at Chiefs : Promote your business on BuyPE and MyPR. Ernst Middendorp wants Pule Ekstein to stay at Chiefs: Port Elizabeth — Kaizer Chiefs coach Ernst Middendorp remains hopeful the contractual dispute between midfielder Pule Ekstein and the club will be resolved swiftly so the player can be considered for … Source: "Port Elizabeth" business - BingNews. Know […] - MyPE News Submit and get free press releases here: MyPR Free Press Release .

UPDATE 1-South Africa's Tongaat to restate prior results after accounting review

(Adds details on review, share price, background) April 24 (Reuters) - South African sugar producer Tongaat Hulett Ltd said on Wednesday it would restate prior financial information after a formal review revealed certain accounting practices that needed to be re-examined. The company said it had started implementing a turnaround plan and that the review included timing and recognition of land sales, as well as assessment of various assets for impairment. Investors have been jittery about accounting irregularities after multinational retailer Steinhoff International Holdings NV revealed a more than $12 billion hole in its accounts in December 2017, which wiped out more than 90 percent of its market value.

Russian oil flow contamination roils Europe's refiners

(Add details, quotes) By Dmitry Zhdannikov and Olga Yagova MOSCOW, April 24 (Reuters) - The quality of Russian oil flowing to northern and central Europe has deteriorated significantly in recent days, traders and Russian officials said, roiling the continent's refining industry. Oil flows via the Baltic port of Ust Luga and via the Druzhba pipeline to Belarus, Poland, Germany, Hungary and the Czech Republic have been contaminated with high levels of organic chloride since April 19. The material is used to help boost oil output but must be separated from oil before shipment as it can destroy refining equipment. According to traders with several European majors, levels of organic chlorine have fluctuated at 150-330 parts per million (ppm) instead of the 10-ppm maximum norm and the usual level of around 1-3 ppm. The Russian energy ministry confirmed there were quality issues and said pipeline monopoly Transneft was trying to fix the problem as soon as possible, giving no timeframe. A Russian energy source familiar with the situation said the problem could be fixed by the end of the week. Crude contamination is rare in Russia. Traders said oil was last contaminated with high levels of organic chlorine around 10 years ago, but on a lower scale. This time the problem has become so big that refiners in Poland and Germany belonging to PKN Orlen, BP, Total and Shell are considering suspending purchases of Russian oil along the Druzhna pipeline, which constitutes much of their imports. From the port of Ust Luga, at least five contaminated tankers have sailed belonging to oil firms Rosneft, Surgut and Kazakh producers and bought by traders and majors such as Equinor, Vitol, Trafigura, Glencore and Total. Buyers have filed pre-claims to Russian oil sellers, indicating they may seek compensation, two traders familiar with the developments said.

FTSE 100 slumps as oil price boost fades; KCOM jumps on buyout bid

* FTSE 100 down 0.7 pct * FTSE 250 up 0.4 pct * Metals companies, oil majors top drags * Mid-cap Centamin jumps on strong Q1 * KCOM surges on M&A news (Adds company news items, updates to closing prices) By Muvija M April 24 (Reuters) - Britain's main equities index dropped on Wednesday as oil majors weakened amid signs that global markets remain adequately supplied, while telecom group KCOM sky-rocketed after agreeing to a takeover deal. The FTSE 100 index lost 0.7 percent on its worst day in a month, but the midcaps gained 0.4 percent with gold miner Centamin leading gains after a strong quarterly update. The blue chips, which had touched a near seven-month high in the last session, lagged European markets where strong earnings from the likes of SAP and Credit Suisse kept a lid on losses. Bellwethers Shell and BP dropped from multi-month highs as crude prices retreated after having jumped to their 2019 highs this week as the United States pushed to tighten sanctions against Iran. Shell, the most valued FTSE 100 component in terms of market cap, recorded its worst day in over a month, while BP suffered its biggest one-day drop since late January. Further weighing on the index were mining companies which fell nearly 2 percent as the price of industrial metals dropped in Shanghai on growing concern that China, the world's biggest metals consumer, will ease up on its economic stimulus efforts. Anglo American, with a 4 percent decline, was among the biggest blue-chip losers, after JP Morgan cut its rating on the stock. Sainsbury's gave up 1.6 percent. Britain's competition regulator is expected to publish its final report on the supermarket group's planned takeover of Walmart-owned rival Asda on Thursday. RETAIL RELIEF A bright spot, though, was Associated British Foods, which added 2 p

Comparison of Gold Credit Cards offered at top South African banks

In the past, the colour of your credit card signaled your financial status because you had to fall within a certain income bracket to apply for each card. If you had a black or diamond credit card, you usually fell within the higher income brackets. Whereas if you simply had a standard credit card, you would fall within the lower income brackets.

Capitec and Curro boost PSG Group's earnings

The group says it grew earnings by 9% in the year ended February 2019 PSG Group, which holds large stakes in Capitec, PSG Konsult and Curro, says it grew earnings by 9% in the year ended February 2019 thanks to "commendable" performances from its main investments. Recurring earnings per share rose 9% to R10.86 as strong performances by financial services firms Capitec and PSG Konsult, and by private schools group Curro, offset weaker showings from start-up investor PSG Alpha and agricultural group Zeder. Zeder impaired its investment in Pioneer Foods owing to Pioneer's valuation decline on the JSE. PSG, the group founded by Jannie Mouton and headed by his son, Piet, raised its dividend for the year by 10% to R4.56 a share. Its sum-of-the-parts valuation of R329.73 per share, as of April 18, implies that it is trading at a discount of nearly 20%. PSG's ordinary shares were 0.9% down at R266.89 on Wednesday afternoon. "Despite obvious challenges, PSG remains positive about SA and the opportunities it presents," the group wrote in its financial report. "We believe PSG's investment portfolio is suitably positioned to continue yielding above-average returns." In late March, Capitec said its headline earnings in the year ended February 2019 rose 19% to R5.3bn as its client base grew by 1.5-million to 11.4-million. The lender faces new competition from the likes of TymeBank, Bank Zero and Discovery Bank. .

Caterpillar quarterly earnings beat as mining business perks up

A boost in Caterpillar's mining business eased concerns over trade tensions and slowing global growth. Caterpillar profit and sales beat estimates for the first quarter, driven by a boost in its mining business, helping ease investor concerns that trade tensions and signs of slowing global growth would be a drag on the heavy-equipment maker. The mining- and construction-machines maker also boosted its per-share profit forecast for the year, crediting US tax reforms. The results from Caterpillar, an economic bellwether, add to signs that industrial earnings are holding up in the face of the US-China trade war and worries that some end users may be reaching the peaks in their growth cycles. The company is benefiting from rising capital investment in mining.

Gold worth billions smuggled out of Africa

NAIROBI --billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reuters analysis has found. Customs data shows that the United Arab Emirates (UAE) imported $15.1-billion worth of gold from Africa in 2016, more than any other country and up from $1.3-billion in 2006. The total weight was 446 t, in varying degrees of purity - up from 67 t in 2006.

Ethical artisanal diamond mining pilot scaling up operations in Sierra Leone

A pilot project that creates a secure and transparent route to market for ethically sourced artisanal and small-scale mined (ASM) diamonds is scaling up its operations in Sierra Leone to give more miners the opportunity to benefit from the programme, diamond multinational De Beers Group, which is owned by diversified mining group Anglo American, said on Wednesday. The project, called GemFair, provides ASM diamond miners with access to De Beers Group's distribution channel, while seeking to improve ethical standards, working conditions and value for miners within the sector. For the pilot project, GemFair initially worked with 16 mine sites in Sierra Leone but has, in the past six months, expanded this to include a further 38 sites.

BRIEF-Tongaat Hulett Says Restatement Of Prior Financial Information Is Anticipated

April 24 ( ) - Tongaat Hulett Ltd TONJ.J : * RENEWAL OF CAUTIONARY ANNOUNCEMENT * STRATEGIC AND FINANCIAL REVIEW IS ONGOING WITH CONSIDERABLE PROGRESS BEING MADE TO DATE. * WHILE FULL IMPACT OF THIS REVIEW IS STILL BEING DETERMINED, A RESTATEMENT OF PRIOR FINANCIAL INFORMATION IS ANTICIPATED * FULL IMPACT OF STRATEGIC & FINANCIAL REVIEW STILL BEING DETERMINED, RESTATEMENT OF PRIOR FINANCIAL INFORMATION IS ANTICIPATED * CONTINUE TO ENGAGE IN COLLABORATIVE PROCESS WITH DEBT PROVIDERS TO ENSURE COMPANY'S LONG-TERM SUSTAINABILITY * IMPLEMENTATION OF A TURNAROUND PLAN RESETTING FINANCIAL AND COMMERCIAL PRIORITIES HAS COMMENCED* IMPLEMENTATION OF TURNAROUND PLAN STREAMLINING & RATIONALISING BUSINESSES, REVITALISING EXECUTIVE LEADERSHIP TEAM HAS COMMENCED * IS COMMITTED TO FINALISING 31 MARCH 2019 AUDITED ANNUAL FINANCIAL STATEMENTS BY END JUNE 2.

PICS: Rhodes students bag international accolade for employment creating business idea

Four Rhodes University PhD Chemistry students have bagged the top position in the 2019 Hultz Prize Challenge for their business model for a waste management system that will result in the employment of more than 10 000 young people. The four students, who go by the name "Team E-Smart" are Nobuhle Ndebele, 24, Lindokuhle Nene, 25, Reitumetse Nkhahle, 26 and Gauta Matlou, 29 and were the only students from a South African university participating at the summit, held at the Brookhouse International School in Nairobi, Kenya. Their business model aims to create job opportunities for the youth through the collection of electronic and electrical waste materials and further recycling, repairing or repurposing it into new market products.

Blockchain is Great, But It Can't Solve Everything. Take Conflict Minerals

Blockchain technology can help trace a product as it moves through a supply chain, but it cannot create trust where it's often most needed.  By Dr Fritz Brugger  When it comes to solving problems today, it sometimes feels like no discussion is complete without the suggestion that blockchain technology could be the solution. In business and public services, for example, it has been promoted as a way to improve transparency, efficiency and trust. In  commodity trading , where many parties are involved and goods are often sold several times, it has been celebrated a tool for reducing transaction costs.

Naspers provides R1 million to support relief efforts following Durban floods

Naspers has donated R1 million in support of disaster relief and recovery efforts in Durban and the wider KwaZulu-Natal coastal area in South Africa following the devastating floods. "We are deeply saddened by the impact that the floods have had on the communities in Durban and the South Coast area. We send our sincerest condolences to the families and friends of those who have lost their lives in the floods," said Aileen O'Toole, Chief People Officer of Naspers. "We encourage other corporates to also make donations and support the call from the South African government to provide much needed relief." Naspers has committed R1 million to the Gift of the Givers, a world-renowned NGO already on the ground supporting disaster management teams working in the area. Gift of the Givers will disburse the funds where most needed, including logistical support with helicopters and ambulances, as well as aid directly to communities and families who have suffered severe and material loss in the storm. To contribute, please visit the Gift of the Givers website ..

BUSINESS MAVERICK: Shoprite's R3.3bn payout proposal to Christo Wiese could easily be voted down

When a company puts out an announcement involving R3.3bn on a Thursday afternoon before a long weekend, you have to wonder. And that is what the financial community has been doing about Shoprite's proposal to pay its chairman R3.3bn for high voting-power shares with an actual monetary value of, well, nothing. There are some who think it's a deal worth doing, but some significant shareholders on Tuesday said, very firmly, they would be voting against the proposal.

Africa to See Continued Oil & Gas Investment Over Next Five Years, Says Standard Bank

Africa is likely to experience continued oil and gas investment over the next three to five years as the stabilisation of crude prices above US$ 60 a barrel, coupled with the continent's rapidly expanding population, lure both major and independent oil producers to one of the world's last remaining energy investment frontiers, says Standard Bank. A string of successful exploration projects over the last decade has seen the number of African countries with proven oil and gas reserves rise to 28 thanks to new discoveries in Ghana, Niger, Mozambique, Uganda, Kenya, Senegal, Mauritania and South Africa. The investment required to bring these countries on stream will add further impetus to Africa's oil consumption, which at 4 million barrels a day already significantly exceeds the continent's 2.1 million barrels of daily refinery output, according to Standard Bank.

‘Fake it 'til you make it' is bad advice in business

Securing a suitable career path is undeniably one of the most difficult decisions one must make in life, especially in the South African environment where opportunities are hard to come by, says Michelle Baron-Williamson, CEO of Managed Integrity Evaluation. Background screening is becoming a compulsory practice within the hiring process - so, what does this mean for candidates? Our recently launched Background Screening Index (BSI) answers some critical points that candidates need to be mindful of when going through the job application process or growing a successful career path. But, why are candidates screened or vetted? The background screening process can come with a great deal of anxiety for the candidate looking to secure employment.

NTVUganda has added NTV BIZ: Equity markets still not attractive to businesses video

NTV BIZ: Equity markets still not attractive to businesses The business community continues to shy away from equity markets for capital mobilisation, leaving them exposed to high interest rates but also missing out of an array of financing options for instance collective investments schemes. Part of the problem according to Capitral Markets Authority is lack of awareness and the poor business practices often ailing majority of enterprises in the country. #NTVNews Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our Facebook page http://bit.ly/1bbEIWm.

Banks entice South African millennials with rap and free food

From free burgers and ride-hailing services to hip-hop concerts and discounted gasoline: South African banks are going all out to win customers as competition hots up. The biggest lenders are facing an onslaught of entrants for the first time in 12 years. They're responding before the newcomers find their feet by pushing loyalty programs, revamping digital offerings for technology-savvy millennials, targeting existing customers with extra products and services and cutting fees. The challengers — some of whose founders or senior staff cut their teeth in the banks they're now up against — couldn't be coming at a worse time. Most lenders are reducing costs, retrenching staff and closing branches to cope with an economy that hasn't expanded above 2 percent a year since 2013 and a move toward the increased use of digital services.

U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 0.63%

- U.K. equities were lower at the close on Wednesday, as losses in the Oil & Gas Producers, Forestry & Paper and Mining sectors propelled shares lower. At the close in London, the Investing.com United Kingdom 100 fell 0.63%. The biggest gainers of the session on the Investing.com United Kingdom 100 were Land Securities Group PLC (LON:LAND), which rose 3.02% or 27.40 points to trade at 935.60 at the close. Micro Focus International PLC (LON:MCRO) added 2.67% or 51.50 points to end at 1983.00 and Severn Trent PLC (LON:SVT) was up 2.13% or 42.00 points to 2011.00 in late trade. Biggest losers included Anglo American PLC (LON:AAL), which lost 3.90% or 84.50 points to trade at 2080.50 in late trade.

Heineken cheers bubbly profits despite late Easter

THE HAGUE, Netherlands - Dutch brewer Heineken, the world's second largest beer-maker, said Wednesday its profits rose 15 percent in the first quarter of 2019 despite Easter being late in the year. The Amsterdam-based brewer reported net earnings of €299-million ($335-million) for the first three months of the year compared to €260-million for the same period in 2018. "We had a positive start to the year with volume growth across all regions despite the later timing of Easter" Heineken CEO Jean-Francois van Boxmeer said in a statement.

Tough out there, but PSG ready for SA recovery - CEO

JSE-listed investment holding company PSG Group said on Wednesday that it managed to achieve "pleasing results amid challenging conditions" during the financial year to February 2019. PSG has a diverse range of underlying investments in banking, financial services, education and food and related business, as well as early-stage investments in select growth sectors. The group's recurring earnings per share increased by 9% to R10.86, following strong recurring earnings per share performance by Capitec and Curro.

UPDATE 2-FTSE 100 slumps as oil price boost fades; KCOM jumps on buyout bid

* FTSE 100 down 0.6 pct * FTSE 250 down 0.1 pct * Metals companies, oil majors top drags * Mid-cap Centamin jumps on strong Q1 (Adds company news items, updates share moves) April 24 (Reuters) - Britain's main equities index moved away from a near seven-month high as oil majors weakened amid signs that global markets remain adequately supplied, while miners were hit by concerns China will reduce its economic stimulus. The FTSE-100 index was down 0.6 percent at 0810 GMT, underperforming its European counterparts, and the midcaps were down 0.1 percent. Oil majors Shell and BP dropped from multi-month highs as crude prices retreated after having jumped to their 2019 highs this week as the United States pushed to tighten sanctions against Iran.

EXXARO RESOURCES LIMITED - EXX - Notice of Exxaro Annual General Meeting and No Change Statement

EXX 201904240047A EXX - Notice of Exxaro Annual General Meeting and No Change Statement EXXARO RESOURCES LIMITED Incorporated in the Republic of South Africa (Registration Number: 2000/011076/06) JSE share code: EXX ISIN code: ZAE000084992 ADR code: EXXAY (‘Exxaro' or the ‘company') NOTICE OF EXXARO ANNUAL GENERAL MEETING AND NO CHANGE STATEMENT Shareholders are hereby advised that the notice of the the 18th (eighteenth) annual general meeting of shareholders of Exxaro to be held (subject to any adjournment or postponement) at the JSE Building, 9th Floor Dining Room, One Exchange Square, Gwen Lane, Sandown, South Africa, at 11:00 on Thursday, 23 May 2019 (which includes the summarised group annual financial statements for the year ended 31 December 2018) was distributed today. The annual integrated report, audited group and company annual financial statements, , supplementary report , tax report and Mineral Resources and Mineral Reserves statement for the year ended 31 December 2018 will also be available on the company's website (www.exxaro.com) today. The board of directors of the company has determined, in accordance with section 59(1)(a) and (b) of the Companies Act 71 of 2008, as amended (Companies Act), that the record date for shareholders to receive notice of the annual general meeting (the notice record date) was Friday, 12 April 2019, and the record date for shareholders to be recorded as such in the shareholders' register, maintained by the transfer secretaries of the company, to be able to attend, participate in and vote at the annual general meeting (the voting record date) is Friday, 17 May 2019. Therefore the last day to trade in the company's shares on the JSE to be recorded in the share register on the voting record date is Tuesday, 14 May 2019. Shareholders are further advised that the audited group and company annual financial statements for the year ended 31 December 2018, are unchanged from the reviewed group annual financial results which were published on SENS on

PE Business News: Ernst Middendorp wants Pule Ekstein to stay at Chiefs

Promote your business on BuyPE and MyPR. Ernst Middendorp wants Pule Ekstein to stay at Chiefs: Port Elizabeth — Kaizer Chiefs coach Ernst Middendorp remains hopeful the contractual dispute between midfielder Pule Ekstein and the club will be resolved swiftly so the player can be considered for … Source: "Port Elizabeth" business - BingNews. Know […].

South African Start-up Wants to Make Brand Management Easier on all…

Entrepreneur Paula Sartini would love to see users of search giant Google and other platforms use her company's solutions to make brand management easier in the digital world. Her products are already available on a cloud based add-on application that pairs with Microsoft's Office Suite. "The idea that you can go to any device and login to have everything you use to have on a laptop, that's pretty cool," says Sartini, founder and chief executive officer at BrandQuantum, in an exclusive interview with  Techfinancials.co.za .

Financials and resources drag the local bourse lower

The JSE closed weaker on Wednesday mainly on the back of losses recorded across the industrials and financials indices. The rand weakened further in today's session as it fell to a session low of R14.42/$. This resulted in weakness being recorded for most of the financials on the JSE.

SA banks compete with free burgers, gas and hip-hop

Big lenders are facing an onslaught of entrants for the first time in 12 years. From free burgers and ride-hailing services to hip-hop concerts and discounted gasoline: South African banks are going all out to win customers as competition hots up. The biggest lenders are facing an onslaught of entrants for the first time in 12 years. They're responding before the newcomers find their feet by pushing loyalty programmes, revamping digital offerings for technology-savvy millennials, targeting existing customers with extra products and services and cutting fees.

Wescoal to cut coal to Eskom after hundreds of employees run riot at Mpumalanga mine

ESKOM'S coal supply worries have been kicked up a notch after on-mine rioting at the Vanggatfontein premises of Wescoal Holdings in Mpumalanga province have resulted in a six to eight week closure affecting up to a fifth of budgeted annual coal production. The company produced 6.8 million tons of run of mine coal in its 2018 financial year. Its current financial year closed on March 31 so the Vanggatfontein closure will affect output in the 2020 financial year.

Interpol rescues dozens of child slaves from markets in West Africa

DAKAR, April 24 (Thomson Reuters Foundation) - Police have rescued 216 human trafficking victims, mainly children, from forced labour and prostitution in a major operation in Benin and Nigeria, Interpol said on Wednesday. Operation Epervier II involved 100 police officers across the two countries who rescued 157 child slaves, said the global police organisation, which coordinated the raids in early April. Many of the children were working in markets peddling goods, carrying heavy loads or fetching water, while others worked as housemaids or were forced into prostitution, Interpol said.

King Price bids for Alex Forbes's insurance assets

Other bidders expected to emerge in time. Feisty short-term insurer King Price has thrown its hat in the ring and offered up to R2 billion to acquire 100% of Alexander Forbes's short-term insurance business. If successful, the bid would double King Price's existing business, says CEO Gideon Galloway.

Valuations scupper bid for RDI

The European shopping centre and hotel owner said a conditional proposal from the Australian property group undervalued the group. Shares in RDI REIT fell sharply in late trade on the London Stock Exchange after the real estate investment trust said a potential suitor had walked away from making a bid. The JSE was already closed for the day when the announcement was made.

Oil dips on well supplied markets despite tighter Iran sanctions

* IEA says oil markets are adequately supplied * U.S., OPEC spare capacity to fill in for lost Iranian supply By Henning Gloystein SINGAPORE, April 24 (Reuters) - Oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington's push for tighter sanctions against Iran. Brent crude futures were at $74.24 per barrel at 0058 GMT, down 27 cents, or 0.4 percent, from their last close. U.S.

Mr Prices A2X listing gives more choice to our investors

DURBAN JSElisted retail giant Mr Price has become the latest company to take its secondary listing to the A2X Markets after it was approved by the stock exchange yesterday.Mr Price is the first retail group and the 20th company overall to list on A2X Markets since it was launched in October 2017. The groups shares will be available for trade on May 2 and it will retain its listing on the JSE and its issued share capital will not be affected by its secondary listing on A2X. Mr Prices listing on A2X follows that of leading pharmaceutical group Aspen Pharmacare which listed at the beginning of the month.

Private school slammed over entrance test

A parent is fuming after Waterstone College, a Curro school in the south of Johannesburg, refused to admit his son because he failed the entrance tests. This was despite recent comments by Curro Holdings chief executive Andries Greyling to the Sunday Times that "no child will ever be denied admission based on the outcome of this test". It follows the case of a businesswoman who was left bitterly disappointed after Crawford College Pretoria said her 12-year-old daughter "did not do well" in the entrance test..

Mr Price the first retailer to list on A2X

Mr Price Group has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 2 May 2019. " data-lazyauto="true"> Mr Price retains its listings on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. There is no cost, risk or additional regulatory compliance for Mr Price as a result of its secondary listing.

The FSCA wraps up a further three insider trading investigations into the Steinhoff shares

The Financial Sector Conduct Authority (FSCA) wishes to update the public on the status of the investigation into potential insider trading on the Steinhoff International Holdings N.V. shares during the period preceding 4 December 2017. Approximately 30.7 million shares were traded with a total market value of over R1.7 Billion in the week prior to the share collapse following the announcement delaying the Annual Financial Statements of the Group in December 2017.

Primary school children taught to grow & manage successful food gardens

Coronation has invested in the youth by helping primary school children learn to grow their own food gardens and sell excess produce at a profit.   Gugulethu, South Africa - The Sonwabo Primary School in Gugulethu has had significant investment thanks to Coronation's Social Investment initiatives. The fund invested in the school by providing an organic food garden which sustains the school canteen and provides an additional income.

Christo Wiese's Massive Shoprite Payday Could Be Shot Down

Former Steinhoff International Holdings NV chairman Christo Wiese's Shoprite payday looks like it's running into a fair amount of pushback. Things have not been going well for Wiese for a while now. His  fortune took a knock last year after Steinhoff was hit with allegations of accounting fraud .

Freedom Day in South Africa - a reminder of unfinished business

South Africans celebrate Freedom Day on April 27 every year to mark the country's first democratic elections in 1994. A quarter of a century later, though, questions remain: how much and whose freedom is to be celebrated? The differing answers among voters might affect the results of the national elections on 8 May . South Africans can still not celebrate freedom from want.

Interpol rescues dozens of child slaves from markets in West Africa

Police have rescued 216 human trafficking victims, mainly children, from forced labour and prostitution in a major operation in Benin and Nigeria, Interpol said on Wednesday. Operation Epervier II involved 100 police officers across the two countries who rescued 157 child slaves, said the global police organisation, which coordinated the raids earlier this month. Many of the children were working in markets peddling goods, carrying heavy loads or fetching water, while others worked as housemaids or were forced into prostitution, Interpol said.

Vodacom harnesses ICT to empower learners, farmers and teachers

Takalani Netshitenzhe, Chief Officer for Vodacom Group Corporate Affairs. Business has an obligation to adapt its corporate social investment (CSI) to changing needs and conditions rather than doggedly following an approach which may no longer be relevant. Speaking at the 2019 Trialogue Business in Society Conference in Johannesburg on Wednesday 17, April, Ms Takalani Netshitenzhe Chief Officer Corporate Affairs Vodacom Group, said that Vodacom has allocated R500 million to education, gender empowerment and sanitation in schools over the next five years.

Interpol rescues dozens of child slaves from markets in West Africa

Police arrested 47 suspected traffickers and seized vehicles, cash, phones and computers in the operation, which targeted markets in the countries' capitals as well as airports, seaports and border areas, said Interpol. The children rescued were between the ages of 11 and 16 and came from Benin, Burkina Faso, Niger, Nigeria and Togo. The youngest was a boy forced to smuggle heavy goods such as bags of rice across the Benin-Nigeria border, Interpol said.

Evaluating South Africa's mining sector performance

South Africa's mining sector in 2017 contributed R335 billion to GDP, R81 billion in fixed investment and R19 billion in taxes. Despite its contribution it is a sector under siege from carbon tax, electricity hikes and recent labour disputes. It is also one of the most interesting industries with talk of Vedanta Resources on the prowl for Anglo American.

SA banks compete with free fuel and hip-hop

(Bloomberg) -- From free burgers and ride-hailing services to hip-hop concerts and discounted gasoline: South African banks are going all out to win customers as competition hots up. The biggest lenders are facing an onslaught of entrants for the first time in 12 years. They're responding before the newcomers find their feet by pushing loyalty programs, revamping digital offerings for technology-savvy millennials, targeting existing customers with extra products and services and cutting fees.

GLENCORE PLC - GLN: Transactions In own Shares-23 April 2019

Wrap Text GLN: Transactions In own Shares-23 April 2019 Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 24 April 2019 Transactions in own shares-23 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 23 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,217,067 Lowest price paid per share (GBp): 334.9500 Highest price paid per share (GBp): 339.0000 Volume weighted average price paid per share (GBp): 336.8677 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 769,907,649 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,816,292,417. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted Trading venue

Attend our Investment Dialogue on how elections will affect SA markets and investors

What do our leading political analysts foresee? And what are the implications for our economy? With SA's hotly contested elections around the corner, we are living in uncertain times. The elections results are unpredictable and SA's post-election future seems precarious. What do our leading political analysts foresee? And what are the implications for our economy? While rating agency Moody's has given us a break for now, SA remains just one notch away from being downgraded to junk status. Then there is the rapidly responding market.

Facial recognition errors are bad for business

If your facial recognition system works worse with women or people with darker skin, it's in your own interest to get rid of that bias. That's the advice of Joy Buolamwini , an MIT researcher and founder of the Algorithmic Justice League . A huge fraction of the world's population is made up of women or people who don't have European-heritage white skin -- the undersampled majority, as she called them in a speech Tuesday at the Women Transforming Technology conference .

GLOBAL MARKETS-European shares hit highest since August on Credit Suisse, SAP

* European shares hit highest in nearly nine months * Credit Suisse profit tops view, eyes on earnings * Aussie dollar, Turkish lira slide * Global shares performance year-to-date: tmsnrt.rs/2IERhC0 (Adds Wall Street pre-open) By Tom Arnold LONDON, April 24 (Reuters) - World shares pared back losses on Wednesday as positive earnings in Europe from Credit Suisse and investor support for SAP helped soothe worries that China has put broader stimulus on hold. European shares crept into positive territory, with the pan-regional STOXX 600 index edging up 0.1 percent to reach its highest level since Aug. 1.

Learnerships For Business Administration At Osborn

Osborn have a prospectus to implement four learnership programmes that aim to develop skills and competence. This will be done in addition to their current responsibility. We have prospectus to implement two learnership programmes that aim to develop skills and competence.

JP Morgan downgrades Anglo stock on risks to Minas Rio expansion, SA assets

Anglo's Minas Rio SHARES in Anglo American were fully priced as they did not factor in the risk posed by South African elections in May, or the prospect of a delay in granting a licence for iron ore operations in Brazil - a potential event that could crimp earnings. This was the view of JP Morgan Cazenove analyst, Dominic O'Kane, who downgraded Anglo shares to neutral after three years of recommending investors buy the stock on the basis of its under-valuation. Shares in the UK-listed group have improved 185% since July 2016, outstripping gains made by peer group rivals Glencore, BHP and Rio Tinto which were 130%, 109% and 106% higher respectively.

New speakers added to Inaugural Exponential Finance Summit programme

SingularityU South Africa brings together over 20 global thought leaders in technology, finance, and investment SingularityU South Africa has announced that more speakers have been added to the programme for the inaugural Exponential Finance Summit, which will take place at the Cape Town International Convention Centre on 29 and 30 May 2019. The new speakers include Shane Glynn, Hylton Kallner, Phathizwe Malinga, Benjamin Rosman and Magda Wierzycka. Shane Glynn is the co-founder and General Counsel of MobileCoin, a company that provides private, mobile and digital cash payment systems.

A creative spark: Tributes to Matthew Buckland

Posted By: on: April 24, 2019In: Digital Media Print Email The news that digital pioneer and all round good guy Matthew Buckland had just died from cancer at the tender age of 45 struck a nerve with South Africa's media industry. After The Media Online posted the news early on Tuesday morning, having confirmed it with Matt's cousin by marriage, Grant Pringle, it wasn't too long before #RIPMatthewBuckland started trending on Twitter. The outpouring of grief at the news highlighted just how cherished Matt was, and what a pivotal role he played in South Africa's digital world.

Business robbery at Gold One

Four suspects robbed Gold One just after midnight on Wednesday morning. Six security gaurds were in the security office when four suspects, armed with firearms, burst into the office and held the gaurds at gunpoint. The guards were then assaulted and tied together with cable ties while the suspects demanded keys to the melting house.

New speakers added to Inaugural Exponential Finance Summit programme

This content is not written by Creamer Media, but is a supplied media statement. SingularityU South Africa brings together over 20 global thought leaders in technology, finance, and investment SingularityU South Africa today announced that more speakers have been added to the programme for the inaugural Exponential Finance Summit, which will take place at the Cape Town International Convention Centre on 29 and 30 May 2019. The new speakers include Shane Glynn, Hylton Kallner, Phathizwe Malinga, Benjamin Rosman and Magda Wierzycka.

Digital Marketing Strategies For Audience Targeting

According to Digital Marketing Expert Lisa Smith, audience targeting is just what it sounds like - it is the practice of using data to segment consumers by demographics or interests in order to find the holy grail that is the right person on the right device at the right moment. Here are some strategies digital marketers are using to target their audiences: Event Tracking Adding event tracking to your site shows you how visitors are interacting with your site and can help you build a more effective online presence. Marketing companies can capture phone IDs and serve ads based on geography—including location up to six months ago—with just latitude, longitude and date.

Interpol rescues dozens of child slaves from markets in West Africa

Many of the children were working in markets peddling goods, carrying heavy loads or fetching water, while others worked as housemaids or were forced into prostitution, Interpol said. | DAKAR - Police have rescued 216 human trafficking victims, mainly children, from forced labour and prostitution in a major operation in Benin and Nigeria, Interpol said on Wednesday. Operation Epervier II involved 100 police officers across the two countries who rescued 157 child slaves, said the global police organisation, which coordinated the raids in early April.

FOREX-Dollar rises broadly; euro slips on German business...

* Australian dollar sheds 1 pct after softer CPI * Sterling at 2-month lows as dollar and Brexit weigh (New throughout, updates rates and comments to to U.S. market open; new byline, changes dateline, previous LONDON) By Saqib Iqbal Ahmed NEW YORK, April 24 (Reuters) - The euro fell against the U.S. dollar on Wednesday after a surprise drop in a leading indicator for economic activity in Germany highlighted the divergence between economic data in the United States and the euro zone. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe's largest economy.

Evaluating South Africa's mining sector performance

South Africa's mining sector in 2017 contributed R335 billion to GDP, R81 billion in fixed investment and R19 billion in taxes. Despite its contribution it is a sector under siege from carbon tax, electricity hikes and recent labour disputes. It is also one of the most interesting industries with talk of Vedanta Resources on the prowl for Anglo American.

Woolworths to open more 'plastic bag free' stores

Woolworths is planning to introduce three more 'plastic shopping bag free' stores in the country, after trialling the concept at the Steenberg branch in Cape Town. The additional plastic bag free stores will be in Maroun Square in Johannesburg, Moreleta Village in Pretoria and Delcairn Centre in Durban. " data-lazyauto="true"> The retailer also confirmed that it will be rolling out its new low-cost, reusable bag to more stores across the country after a successful six month trial in four of its Western Cape stores.

Young professional? Here is the best bank for you

If you're under 35, have a four-year degree, and you're looking to take your banking experience to the next level, you may be considering young professional banking products. While you generally can't go wrong with any of the offerings from the big five banks - First National Bank (FNB), Standard Bank, Absa, Investec, and Nedbank - it's still essential that you choose one that suits your financial needs. This week Justmoney compares the offerings for young professionals from the big five in helping you make the most informed decision at the best price.

Saudi Arabia: Saudi Arabia: Mass Execution of 37 Men

Source: Human Rights Watch Country: Saudi Arabia Most from Shia Community, Convicted in Unfair Trials (Beirut,) - Saudi Arabia's government announced the mass execution of 37 men on April 23, 2019 in various parts of the country, Human Rights Watch said today. At least 33 of the 37 were from the country's minority Shia community and had been convicted following unfair trials for various alleged crimes, including protest-related offenses, espionage, and terrorism. The mass execution was the largest since January 2016, when Saudi Arabia executed 47 men for terrorism offenses.

The wood whisperer

Visitors to Die Klubhuis always comment on the beautiful design that is evident all through the building, and it is a pleasure and a privilege for the Atterbury team to work in an environment where so much attention to detail prevailed. The exceptionally beautiful wooden furniture was created by the innovative artist and wood whisperer David Krynauw, and beautifully reflects Atterbury's values and aesthetics and we asked him to share his inspiration. Atterbury is very proud to have such beautiful furniture in our workspace.

Vodacom, MTN fall after Competition Commission finds data too expensive

Vodacom Group [ JSE:VOD ] and MTN Group [ JSE:MTN ] shares fell after one of the competition regulators ruled that SA's two largest mobile-phone companies overcharge customers for data - particularly those on lower incomes. The two carriers bill more in their home market than in other countries in which they operate, the Competition Commission said in a provisional report on an inquiry that began in August 2017. Customers hardest hit are those using smaller prepaid bundles, who tend to be less well off, the regulator said.

Small enterprise: The canary in the coal mine of a toxic business environment

Does government see small formal enterprises as an asset or a burden? Their demise suggests it is at least indifferent to their plight. While much lip service is paid to creating conducive conditions for small enterprise in South Africa, government ignores the reality that small firms are disappearing at an alarming rate. It's the canary in the coal mine of a toxic business environment: these smaller entities die off first before the toxic conditions become lethal for larger businesses. Big government favours big business (for tax income) or big labour (watering its socialist roots to ensure working class loyalties).

PIC Inquiry: Former deputy finance minister Jabu Moleketi rails against Bantu Holomisa allegations

Then Deputy Finance Minister Jabu Moleketi, South Africa on 5 October 2007. (Photo by Gallo Images/Sunday Times/Simphiwe Nkwali) Former deputy finance minister Jabu Moleketi and his colleagues on Tuesday rejected UDM leader Bantu Holomisa's claims that their businesses have received questionable funds from the PIC. Former deputy finance minister Jabu Moleketi has questioned UDM President Bantu Holomisa's motives for suggesting he and his colleagues may have used their influence at the PIC to access funding while working in the private sector.

‘But there's no tavern' - Residents still unhappy despite sweet deal to relocate to brand-new suburb

A new home, free municipal rates for 20 years, a decorating budget, R100 000 and more perks, but some Siyathemba residents are still unhappy It appeared to be a very sweet deal: a custom-built house, a R15 000 redecorating allowance, a R20 000 curtain allowance, 20 years of free municipal rates, and cash to replace their fruit trees and lawns. To sweeten it even more, there was R100 000 in cash, and professional movers were hired to relocate them 32km away to Siyathemba, a brand-new suburb of Kathu, in the Northern Cape. But still, some residents are unhappy.

BMW to buy cobalt direct from Australia, Morocco for EV batteries

(Adds comment from Glencore) PARIS, April 23 (Reuters) - German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative under which it could ban or delist brands that are not responsibly sourced by 2022 to help root out metal tainted by child labour or corruption. Andreas Wendt, BMW board member responsible for procurement, told a briefing in Paris that the new supply of cobalt would be used in the carmaker's next generation of EVs in 2020. A spokesman for mining and trading firm Glencore told Reuters his company would supply BMW with cobalt from its Australian Murrin Murrin mine, which last year produced 2,900 tonnes of cobalt. The world's largest known reserves of cobalt are found in the Democratic Republic of Congo, where the raw ingredient is often mined by small, artisanal operations and supply chains are not strictly monitored. BMW said last year it was exploring ways to improve working conditions for mining cobalt in Congo through a pilot project. (Reporting by Pratima Desai and Peter Hobson, writing by Eric Onstad Editing by Emelia Sithole-Matarise and Edmund Blair) 2019-04-24 08.

‘But there's no tavern' - Residents still unhappy despite sweet deal to relocate to brand-new suburb

A new home, free municipal rates for 20 years, a decorating budget, R100 000 and more perks, but some Siyathemba residents are still unhappy It appeared to be a very sweet deal: a custom-built house, a R15 000 redecorating allowance, a R20 000 curtain allowance, 20 years of free municipal rates, and cash to replace their fruit trees and lawns. To sweeten it even more, there was R100 000 in cash, and professional movers were hired to relocate them 32km away to Siyathemba, a brand-new suburb of Kathu, in the Northern Cape. But still, some residents are unhappy.

Datsun's Go range offers real bang for your buck

If you're looking for a hatchback on a budget that packs a surprising punch, there's only one brand you should consider: Datsun. The Datsun Go range is incredibly popular in South Africa thanks to its zippy performance, sporty look, and attractive price tag. The 2019 version is the best version yet, and is available for purchase at Datsun McCarthy. The Datsun Go Mid and Lux vehicles are both fantastic options if you're looking to get the best bang for your buck. The Mid is the more affordable of the pair, while the Lux offers some additional benefits for a slightly larger price tag. Either way, #YourNextDatsun will not disappoint thanks to the remarkable value offered for such a low price. The new Datsun Go has received a revamp in terms of its aesthetic this year, most notably installing an aggressive grille.

King Price to submit R2bn bid for Alex Forbes insurance asset

JOHANNESBURG Fledging insurer King Price is preparing an audacious bid of up to R2 billion to buy Alexander Forbess shortterm insurance business and will submit its formal bid for the asset next week.King Price chief executive Gideon Galloway said yesterday that he was confident the insurer would emerge victorious despite expecting fierce competition.The industry is not growing and logic dictates that most insurers will be interested in getting their hands on Alexander Forbes insurance portfolio so we expected a crowded field of bidders. But I believe we are better positioned to emerge as the preferred bidders Galloway said.We know that Alexander Forbes insurance business had some technology challenges and that is an area we are strong in. We do not have legacy issues and we believe we can use our technology to unlock further value in the Alexander Forbes insurance unit.King Price burst onto the insurance market in 2012 as a disruptor offering decreasing monthly insurance premiums.

Standard Bank reports 8% increase in first-quarter earnings

The group says ‘strong growth' in the rest of Africa helped to lift earnings attributable to shareholders Standard Bank Group says earnings attributable to shareholders were 8% higher in the three months to end-March compared to a year before thanks in part to "strong growth" in the rest of Africa. The performance of the SA banking business in the first quarter "continued to be impacted by the difficult domestic operating environment", the group said. "In contrast, the Africa regions businesses, outside of SA, recorded strong growth. Net interest income growth was supported by year-on-year loan growth." Non-interest revenue growth was aided by an increase in trading revenue, Standard Bank said. However, operating costs rose because of branch closures, while credit impairment charges were higher. In March, Standard Bank said it would cut 1,200 jobs and close 91 branches as part of a plan to digitise its retail and business bank. Standard Bank makes quarterly earnings disclosures for the benefit of its associate, Industrial and Commercial Bank of China (ICBC). Standard Bank said in March its headline earnings in the year ended December rose 6% to R27.9bn, thanks to growth in the retail banking unit. hedleyn@businesslive.co.za.

Gold worth billions smuggled out of Africa

Customs data shows the UAE imported $15.1bn worth of gold from Africa in 2016. Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reuters analysis has found. Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006.

LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Trading statement

LHC 201904240021A Trading statement LIFE HEALTHCARE GROUP HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2003/002733/06) ISIN: ZAE000145892 Share Code: LHC (‘Life Healthcare' or ‘the Group' or ‘the Company') TRADING STATEMENT The Company is currently finalising its financial results for the six months ended 31 March 2019, which are expected to be released on SENS on or about 30 May 2019. In this regard, shareholders are advised that the Group's revenue, normalised EBITDA, earnings per share (EPS), headline earnings per share (HEPS) and normalised earnings per share (NEPS) for the six months ended 31 March 2019 are expected to vary from those reported for the period ended 31 March 2018 (prior period). Measure Reported Expected Change Note 31 March 31 March 2019 2018 Revenue R11 323m R12 300m to +8.6% to +10.4% 1 R12 500m Southern Africa R8 364m R8 750m to R8 900m +4.6% to +6.4% 2 International R2 959m R3 400m to R3 600m +14.9% to +21.7% 3 Normalised EBITDA* R2 673m R2 700m to R2 800m +1.0% to +4.8% 1 Southern Africa R2 095m R2 035m to R2 135m -2.9% to +1.9% 2 International R578m R636m to R665m +10.0% to +15.1% 3 * The Company defines normalised EBITDA as operating profit before depreciation on property, plant and equipment, amortisation of intangible assets and non-trading related costs and income. 1. Group The Group experienced a positive first six months to the 2019 financial year with revenue growing by between 8.6% and 10.4% in challenging operating conditions (2018: R11 323m). Normalised EBITDA margins for the period ending 31 March 2019 will decline to around 22% (2018: 23.6%). The key reasons for this decline in margin are partially driven by the following management initiatives: - the increased focus on driving new growth initiatives both in South Africa and Internationally, aligned to our strategy of broadening our business lines across the healthcare continuum in South Africa and expanding our radiology product development business with

EPP N.V. - Accelarated bookbuild

EPP 201904240011A Accelarated bookbuild EPP N.V. (previously Echo Polska Properties N.V.) (Incorporated in The Netherlands) (Company number 64965945) JSE share code: EPP ISIN: NL0011983374 LEI Code: 7245003P7O9N5BN8C098 (‘EPP' or ‘the company') ACCELARATED BOOKBUILD NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, JAPAN OR ANY JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO EPP announces an equity raise targeting approximately ZAR 1 200 million through the issue of new ordinary shares (the ‘equity raise'). The equity raise is subject to the requirements of the Company's Constitution, the Listings Requirements of the JSE Limited (‘JSE') and the rules and regulations of the Luxembourg Stock Exchange (‘LuxSE'). The equity raise will be offered to qualifying investors through an accelerated bookbuild process (the ‘bookbuild') conducted on the JSE and LuxSE. Investors may elect to subscribe for ordinary shares on the South African register in ZAR or elect to subscribe for ordinary shares on the Luxembourg register in EUR.

King Price to submit R2bn bid for Alex Forbes' insurance asset

JOHANNESBURG - Fledging insurer King Price is preparing an audacious bid of up to R2 billion to buy Alexander Forbes's short-term insurance business and will submit its formal bid for the asset next week. King Price chief executive Gideon Galloway said yesterday that he was confident the insurer would emerge victorious, despite expecting fierce competition. "The industry is not growing and logic dictates that most insurers will be interested in getting their hands on Alexander Forbes' insurance portfolio - so we expected a crowded field of bidders.

JSE could open weaker on Wednesday as Asian markets slip

US markets closed at record highs overnight on favourable earnings from Twitter, Hasbro and Lockheed Martin The JSE could open slightly lower on Wednesday as Asian markets brushed aside Wall Street's record-high closes overnight. ­"Global risk appeared buoyant as the S&P 500 and Nasdaq marked record highs on the back of favourable earnings from Twitter, Hasbro and Lockheed Martin," analysts from OCBC Bank in Singapore said in a note. However, Hong Kong's Hang Seng Index and the Shanghai Composite were both 0.9% lower on Wednesday, while Japan's Nikkei 225 was 0.5% down and Korea's Kospi index declined 1.3%. Some of the JSE's biggest constituents are poised for losses in early trade. Tencent, Naspers's main asset, was 0.7% lower in Hong Kong while BHP Group was 0.5% down in Australia. On the JSE, PSG Group is due to report results for the year ended February.

Anglo preparing to fend off Agarwal approach as 2020 deadline looms - Telegraph

By David McKay - April 22, 2019 Anil Agarwal, Vedanta executive chairman ANGLO American was drawing up plans to defend a possible takeover attempt by tycoon Anil Agarwal's Volcan Investments, said the Sunday Telegraph citing sources saying the UK group was mindful that the time for a bid was drawing close. In 2020, Volcan Investments either has to buy the underlying shares held in previously acquired voting rights the company owns in Anglo or roll over the loan entitling it to the voting shares. "He doesn't have the money right now," a City source told the Sunday Telegraph in its April 21 edition. "He will look to find a partner such as a sovereign wealth fund or agree as part of any deal to sell some assets," the source said. "If he wants to bid, he needs to do it by the end of the year," the source added.

Woolworths announces nationwide roll out of lowcost reusable bags

DURBAN  After a six month trial in four of its Western Cape stores including the launch of their first plastic bag free store Woolworths will be rolling out its new lowcost reusable bag to more stores across the country as well as announcing three more plastic shopping bag free stores.   During the trial which was launched in November 2018 over 100 000 singleuse bags were saved from going out into the environment as customers opted for affordable reusable shopping bags. Steenberg Village Woolies stopped selling single use plastic bags completely. The project which aims to positively shift consumer behaviour to choosing reusable bags is an important part of Woolworths commitments to achieve its ambitious ZERO packaging waste to landfill vision which includes the commitment to ensuring that all packaging is recyclable or reusable by 2022 and to specifically phase out singleuse plastic bags by 2020.  "We want to thank our customers for taking part in the trial and giving us valuable feedback and learnings.

Olam makes $362m offer for Dangote Flour Mills, a former Tiger Brands unit

Aliko Dangote bought the business back from Tiger Brands for a nominal $1 in late 2015 Olam International made a cash bid to buy Dangote Flour Mills (DFM) of Nigeria as the Singapore-based agriculture trader looks to expand in West Africa as part of a rejig of its portfolio. Olam will offer 130-billion naira ($362m) for Lagos-based DFM, which is part of the business empire of Aliko Dangote, Africa's richest man. The price was calculated on a debt-free basis, and will be adjusted to account for net borrowings, the Nigerian company said in a statement on Tuesday. The move sees Olam going back to its roots. The company was founded in Nigeria as an exporter of cashew nuts 30 years ago, and has since grown into a global behemoth with operations in more than 60 countries and a market value of $4.5bn.

UPDATE 1-BMW to buy cobalt direct from Australia, Morocco for EV batteries

(Adds comment from Glencore) PARIS, April 23 (Reuters) - German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative under which it could ban or delist brands that are not responsibly sourced by 2022 to help root out metal tainted by child labour or corruption. Andreas Wendt, BMW board member responsible for procurement, told a briefing in Paris that the new supply of cobalt would be used in the carmaker's next generation of EVs in 2020.

SA banks compete with free burgers, petrol and hip-hop

From free burgers and ride-hailing services to hip-hop concerts and discounted petrol: South African banks are going all out to win customers as competition hots up. The biggest lenders are facing an onslaught of entrants for the first time in 12 years. They're responding before the newcomers find their feet by pushing loyalty programs, revamping digital offerings for technology-savvy millennials, targeting existing customers with extra products and services and cutting fees.

Gold worth billions smuggled out of Africa

By David Lewis, Ryan McNeill and Zandi Shabalaba NAIROBI, April 24 (Reuters) - Billions of dollars' worth of gold is being smuggled out of Africa every year through the United Arab Emirates in the Middle East - a gateway to markets in Europe, the United States and beyond - a Reuters analysis has found. Customs data shows that the UAE imported $15.1 billion worth of gold from Africa in 2016, more than any other country and up from $1.3 billion in 2006. The total weight was 446 tonnes, in varying degrees of purity - up from 67 tonnes in 2006. Much of the gold was not recorded in the exports of African states. Five trade economists interviewed by Reuters said this indicates large amounts of gold are leaving Africa with no taxes being paid to the states that produce them. Previous reports and studies have highlighted the black-market trade in gold mined by people, including children, who have no ties to big business, and dig or pan for it with little official oversight.

Vukile's eye firmly on Iberian Peninsula for stable income stream

Vukile Property Fund's initial acquisition of two office properties in Spain in 2016 gave little indication of how swiftly the Spanish portfolio would be ramped up.  Once primarily SA-focused with negligible offshore exposure, Vukile's offshore exposure now sits at 50%, a hefty 46% of that to Spain via Spanish subsidiary Castellana Properties Socimi S.A.  The balance of 4% is to the UK through Vukile's investment in Atlantic Leaf. In 2017, 11 retail properties followed the 2016 acquisitions.  Fast-forward to 2018 when in just six months Vukile more than trebled its investment in retail properties in Spain, from R4.56bn to R14.77bn.  That came on the back of its Habaneras shopping centre acquisition, followed in quick succession by the purchase of four shopping centres from Unibail-Rodamco-Westfield.  These new assets comprise 60% of the value of the Spanish portfolio, says Vukile CEO Laurence Rapp.It also brought with it a shift from retail park acquisition and brought to 19 the number of properties held by Castellana, 17 of them retail. Of more consequence perhaps, the latest acquisition led to an equal amount of exposure to Spain as to SA.  "Vukile's offshore embarkment wasn't just opportunistic.

Anglo steps up defense to repel Agarwal's interest - Telegraph

23RD APRIL 2019 BY: BLOOMBERG LONDON - Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he is now working with adviser JP Morgan Chase & Co to help finance a bid as soon as September, the British newspaper said. ADVERTISEMENT Anglo American's defense advisers, Morgan Stanley, Goldman Sachs Group Inc. and Centerview Partners, are said to plan attacks on the quality of Vedanta's portfolio compared to Anglo's assets, while Agarwal's environmental track record is also likely to come under scrutiny, according to unidentified people cited by the Telegraph. The mining tycoon increased his stake in Anglo American to more than 20 percent in September 2017 through a mandatory convertible bond maturing in 2020. Although Agarwal's intentions are unclear, the approaching deadline is said to have put Anglo's management on high alert, the Telegraph said.

The growing crime around ATMs/ cash withdrawals

Increased ATM usage has resulted in criminals devising various scams such as card skimming, card swapping, ATM shoulder surfing and trapping cards inside ATMs to steal the card or data. According to a police report, the following scenario has been identified: A person claiming to be working for a bank approached a client. The client was requested to reactivate the card by swiping the card through a device which is a skimming device.

BMW to buy cobalt direct from Australia, Morocco for EV batteries

German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative under which it could ban or delist brands that are not responsibly sourced by 2022 to help root out metal tainted by child labour or corruption. Andreas Wendt , BMW board member responsible for procurement, told a briefing in Paris that the new supply of cobalt would be used in the carmaker's next generation of EVs in 2020.

Christo Wiese's Massive Shoprite Payday Could Be Shot Down

Former Steinhoff International Holdings NV chairman Christo Wiese's Shoprite payday looks like it's running into a fair amount of pushback. Things have not been going well for Wiese for a while now. His  fortune took a knock last year after Steinhoff was hit with allegations of accounting fraud .

MIDEAST STOCKS-Q1 results boost Saudi, most major Gulf markets mixed

April 24 (Reuters) - Saudi Arabia's stock market inched higher on Wednesday bolstered by first-quarter results, while major Gulf markets were mixed in subdued trading. Saudi's index was up 0.1 percent, with Al Rajhi Bank adding 0.5 percent and National Commercial Bank rose 0.8 percent. Both companies reported an increase in their first-quarter net profit.

Meet the finalists for the 2019 Absa Business Day Supplier Development Awards

The finalists of the second annual Absa Business Day Supplier Development Awards have been announced. The awards recognise supplier development best practice in South Africa and acknowledge those successful programmes that are making a lasting impact on the SA economy. " data-lazyauto="true"> Last year's Supplier Development Awards finalists.

Gold slips towards 4-mth low as robust dollar, stock markets dent appeal

* SPDR gold holdings fall to 6-mth low * Dollar trades near 22-mth peak * Nasdaq, S&P 500 indexes hit record closing highs (Adds comment, updates prices) By Arijit Bose April 24 (Reuters) - Gold prices fell on Wednesday to hover around a four-month low touched in the previous session, as share markets rose and the dollar gained after strong U.S. housing data dampened concerns about an economic slowdown in the country. Spot gold was down 0.3 percent at $1,268.84 per ounce by 0328 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. U.S. gold futures were 0.2-percent lower at $1,270.70 an ounce. "The major factor that is pressuring gold prices is the strength of the dollar, which is also pressuring physical demand," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. The dollar index hovered near a 22-month peak after data showed that sales of new single-family homes in the United States rose to a near 1-1/2-year high in March. The data eased concerns about a slowdown in the world's largest economy, right ahead of the release of U.S. GDP figures on Friday. The United States is expected to beat analyst estimates of a 2.1 percent rate of growth with the Atlanta Federal Reserve's GDPNow model projecting growth anywhere between 2.2 to 3.4 percent. Such an event would lift global economic sentiment and support the dollar, analysts said. Gold prices were also pressured as Asian shares tracked overnight gains on Wall Street, where both the Nasdaq and S&P 500 indexes marked record closing highs. Gold dropped to its lowest this year in the last session, nearly 6 percent away from its February peak of $1,346.73 an ounce. "Gold's key support at $1,280 was taken out some time ago, while compounding the negativity further is the fact that both the 50-day

GLENCORE PLC - GLN: Transactions In own Shares-23 April 2019

GLN 201904240010A GLN: Transactions In own Shares-23 April 2019 Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 24 April 2019 Transactions in own shares-23 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 23 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,217,067 Lowest price paid per share (GBp): 334.9500 Highest price paid per share (GBp): 339.0000 Volume weighted average price paid per share (GBp): 336.8677 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 769,907,649 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,816,292,417. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 336.8682 1,250,311 BATS 336.7883 79,009 Chi-X 336.8740 887,747 Transaction details In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Citigro

Business Maverick: Reported Fires Threaten China's Electric-Car Quest

In China, where the quality and safety of electric vehicles and their batteries have been increasingly called into question, electric cars bursting into flames have underscored longstanding issues with China's electric-vehicle push, writes Adam Minter for Bloomberg Opinion. --.

From making biltong as a youngster for fun to turning it into a business

The meat his dad gave him to make biltong as a reward for his help as a youngster inspired a Free State entrepreneur into starting his own business. What was once a hobby has turned into a livelihood for 29-year-old Serasengoe Moodie. Making biltong from the meat of animals hunted by his father was once a fun sideline for the young entrepreneur but today he has turned this former interest into a profitable agro-processing business called Amity Development Solutions.

STANDARD BANK GROUP LIMITED - Financial information provided to the Industrial and Commercial Bank of China Limited (ICBC)

SBK 201904240004A Financial information provided to the Industrial and Commercial Bank of China Limited (‘ICBC') Standard Bank Group Limited Registration No. 1969/017128/06 Incorporated in the Republic of South Africa JSE and A2X share code: SBK ISIN: ZAE000109815 NSX share code: SNB (‘Standard Bank Group' or ‘the group') Financial information provided to the Industrial and Commercial Bank of China Limited (‘ICBC') and update on the group's operational performance for the three months ended 31 March 2019 Financial information provided to ICBC On a quarterly basis the Standard Bank Group discloses to ICBC sufficient information to enable ICBC to equity account the group's results. Accordingly, the following consolidated financial information, prepared on an International Financial Reporting Standards (‘IFRS') basis, is being provided to ICBC for the three months ended 31 March 2019. Statement of changes in ordinary shareholders' equity for the three months ended 31 March 2019 Balance at 1 Earnings Other movements Balance as at January 2019 attributable to for the period 31 March 2019 ordinary shareholders Rm Rm Rm Rm Ordinary share capital 162 162 Ordinary share premium 17 698 17 698 Foreign currency translation and hedging reserve (2 977) (1 317) (4 294) Foreign currency translation reserve (FCTR) (1 800) (1 366)1 (3 166) Foreign currency net investment and cash flow hedging reserve (1 177) 49 (1 128) Retained earnings 149 118 6 644 (9 723)2 146 039 Empowerment reserve and treasury shares (2 358) 1 245 (1 113) Other 3 418 1 630 5 048 Ordinary shareholders' equity 165 061 6 644 (8 165) 163 540 1 The movement in the FCTR was mainly impacted by the introduction of the RTGS dollar in Zimbabwe. 2 Primarily comprises the ordinary dividends declared in March 2019. Update on the group's performance for the three months to 31 March 2019 In the three months to 31 March 2019 (1Q19), the South African banking business performance continued to be impacted by the difficult domestic operating e

Talking business over bacon and eggs

BUSINESS Partners Limited held a networking business on Thursday to mark the start of the financial year at the Victoria Country Club, inviting Pieter­maritzburg Chamber of Business CEO Melanie Veness to share some valuable insight on the economic outlook for 2019 as the guest speaker. Veness first reflected on a recent trip to Russia, where she remarked at the overall well-being of the country, stating that the country has shown a growth of two percent economically and has a four percent rate of unemployment. "I felt uneasy seeing the growth of this country when thinking about our own," she said.

GLOBAL MARKETS-Asian shares fall despite strong Wall Street; dollar near 22-mth high

* MSCI Asia ex-Japan off 0.5 pct, S.Korea and China weigh * Texas Instruments expects further slowdown in microchip demand * Oil prices retreat after surging on supply concerns * Asian stock markets: tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, April 24 (Reuters) - Equity markets in Asia faltered on Wednesday, amid losses in South Korea and worries that China has put any further stimulus on hold as the economy shows signs of regaining its footing. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.5 percent lower, erasing early gains in the wake of record closing highs on Wall Street overnight. The biggest regional loser was South Korea's KOSPI, which was down 1.3 percent.

Talking business over bacon and eggs

BUSINESS Partners Limited held a networking business on Thursday to mark the start of the financial year at the Victoria Country Club, inviting Pieter­maritzburg Chamber of Business CEO Melanie Veness to share some valuable insight on the economic outlook for 2019 as the guest speaker. Veness first reflected on a recent trip to Russia, where she remarked at the overall well-being of the country, stating that the country has shown a growth of two percent economically and has a four percent rate of unemployment. "I felt uneasy seeing the growth of this country when thinking about our own," she said.

Crazy Airbnb regulations show that government just doesn't understand business: FMF

New regulations being introduced by the Department of Tourism to clamp down on short-term home rentals like Airbnb have been met with wide criticism and labelled anti-competitive and draconian. The regulations also demonstrate that the government has no idea how business or wealth generation works, according to Free Market Foundation researcher Chris Hattingh, who says that the department has wildly overreached, giving the minister too much power, and limiting income-earning opportunities. The Tourism Amendment Bill, gazetted on 12 April 2019 , states that ‘short-term home rentals' will now be legislated under the Tourism Act.

Bidvest Premier Lounge and Michelangelo winning wines and spirits unite to pamper travellers' taste buds

The Michelangelo International Wine & Spirits Awards is proud to announce a pioneering and exciting agreement with the Bidvest Premier Lounge Group, which promises to add tangible value to the competition's annual awards' medals and trophies. From 1 May Bidvest Premier Lounge will begin the process of procuring and phasing in Michelangelo award-winning wines and spirits into eleven Bidvest Premier Lounges around the country.  These include departure lounges at both the domestic and international terminals at OR Tambo International and Lanseria International in Gauteng, Cape Town International, King Shaka International in Durban, Port Elizabeth International, East London Airport, George Airport and Bram Fischer Airport in Bloemfontein.

PRESS DIGEST- New York Times business news - April 24

April 24 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Drugstore chain Walgreens will stop selling tobacco products to customers under 21, the company announced on Tuesday, weeks after the Food and Drug Administration accused the company of repeatedly selling tobacco products to minors.

GLOBAL MARKETS-World shares fall as China stimulus worries offset upbeat Credit Suisse earnings

* European shares edge lower * Credit Suisse profit tops view, eyes on earnings * In Asia, stocks falter on China stimulus worries * Global shares performance year-to-date: tmsnrt.rs/2IERhC0 By Tom Arnold LONDON, April 24 (Reuters) - World shares took a step back on Wednesday as signals that China has put broader stimulus on hold offset positive results from Credit Suisse, which kicked off the earnings season for European investment banks. European shares followed Asia lower, pulling back from eight-month highs, with the pan-regional STOXX 600 index slipping 0.4 percent. Germany's DAX was flat after a business survey showed German business morale deteriorated in April.

Orion boss Smart acknowledges Prieska success could make firm a takeover target

By David McKay - April 23, 2019 ORION Minerals CEO, Errol Smart, acknowledged the company could become a takeover target if it made a success of its Prieska zinc-copper project. "At some point they will come out with their knives, which is the life of a junior miner, especially if we develop something that is very successful," he said when asked at a media roundtable last week whether Independence Group was a supportive shareholder. Sydney-listed Independence Group increased its stake in Orion to just over 11% from 4% a year ago after subscribing for A$5m worth of shares in the company. "I don't see them as an operator in Africa as they don't have experience here; rather, I see them as a partner group alongside," added Smart regarding Independence Group's intentions. Founded in 2000, Independence Group produces nickel and copper from its Nova operation in Western Australia. Its main asset, however, is a 30% stake in the Tropicana Joint Venture with operator, AngloGold Ashanti.

Business Maverick: Tanzania denies blocking release of scathing IMF report

In the leaked report, seen by Reuters last week and which the IMF said was not made public after Tanzanian authorities did not consent to its publication, the Fund said a weak business environment and the implementation of projects that may not have high rates of return were likely to constrain annual GDP growth. "The government is still holding consultations with the IMF. We have not blocked the report in any way whatsoever," Tanzania's finance and planning minister, Philip Mpango, told parliament.

JSE could open weaker on Wednesday as Asian markets slip

US markets closed at record highs overnight on favourable earnings from Twitter, Hasbro and Lockheed Martin The JSE could open slightly lower on Wednesday as Asian markets brushed aside Wall Street's record-high closes overnight. ­"Global risk appeared buoyant as the S&P 500 and Nasdaq marked record highs on the back of favourable earnings from Twitter, Hasbro and Lockheed Martin," analysts from OCBC Bank in Singapore said in a note. However, Hong Kong's Hang Seng Index and the Shanghai Composite were both 0.9% lower on Wednesday, while Japan's Nikkei 225 was 0.5% down and Korea's Kospi index declined 1.3%. Some of the JSE's biggest constituents are poised for losses in early trade. Tencent, Naspers's main asset, was 0.7% lower in Hong Kong while BHP Group was 0.5% down in Australia. On the JSE, PSG Group is due to report results for the year ended February.

Digital pioneer whose kindness stood out

OBITUARY Matthew Buckland, 1974-2019 Matthew Buckland's obituary should be a word cloud of the most commonly used terms in the tributes that flooded social media after the announcement of his death. Besides the ubiquitous "digital", the words "mentor", "pioneer" and "friend" were writ large. Outsourcing his tribute to an algorithm might have amused the digital part of his being. But he would also have been mildly annoyed, because as much as Buckland was one of the founding citizens of that country we call the internet, he was also a writer who valued the authority and complexity of more traditional forms of journalism.

Outsourcing is back in business!

5 Reasons why your business should consider outsourcing non-core services. Organisations started outsourcing specific business activities in the 1990s mainly as a cost-saving measure. Functions not related to the core business, such as accounting, human resources, data processing, security and maintenance were contracted out to specialised service providers rather than handled by internal staff and resources.

Capitec, Curro performance lifts PSG Group results

The company continues to build and invest in its educational assets for future growth. Investment holding company PSG Group reported recurring earnings up 9% to 1,086 cents a share when it released its annual results on Wednesday. While the company says its total sum of the parts value rose by 22% to R311.45 per PSG Group share as at the end of February 2019. Shareholders will get a final dividend of 304 cents a share, making the full year dividend 456 cents a share - which is up 10% on the year prior. Piet Mouton, the CEO of the PSG Group delves into the reasons behind the rise in its results with Nompu Siziba, while David Shapiro also discussed the PSG numbers in an earlier podcast..

A Luxurious Smartphone at a Wallet-friendly Price now Available in South…

By Staff Writer Luxury smartphone design made accessible with the launch of the STK Sync 5e in South Africa STK , the born-in-London smartphone brand, has expanded its fast-growing product range in South Africa by bringing the STK Sync 5e Android 6.0 (Marshmallow) smartphone with 5-inch high-definition display to the local market. The Sync 5e is available from major retailers across southern Africa, including PEP, Ackermans, The Foschini Group, OK and Shoprite, with a recommended retail price of R999. Crafted with a blend of the finest materials and a beautiful aesthetic design, the Sync 5e offers a luxurious smartphone experience at a wallet-friendly price.

Keeping Your Client: Winning Tools for Business Astrology

Come Feed Your Soul & Join Us for a Morning of Personal Growth & Development. TOPIC:  Keeping Your Client - Winning Tools for Business Astrology Retaining one's major clients is of primary concern for business owners and building lasting relationships with your clients is paramount. Did you know you can use the wisdom of Astrology to enhance and solidify your business relationships? Astrology is the ancient practice of attributing meanings to the placement of the moon + planets at the exact moment of your birth.

UPDATE 1-Russian oil flow contamination roils Europe's refiners

(Add details, quotes) By Dmitry Zhdannikov and Olga Yagova MOSCOW, April 24 (Reuters) - The quality of Russian oil flowing to northern and central Europe has deteriorated significantly in recent days, traders and Russian officials said, roiling the continent's refining industry. Oil flows via the Baltic port of Ust Luga and via the Druzhba pipeline to Belarus, Poland, Germany, Hungary and the Czech Republic have been contaminated with high levels of organic chloride since April 19. The material is used to help boost oil output but must be separated from oil before shipment as it can destroy refining equipment.

Freedom Day in South Africa - a reminder of unfinished business

Form here Henning Melber , University of Pretoria South Africans celebrate Freedom Day on April 27 every year to mark the country's first democratic elections in 1994. A quarter of a century later, though, questions remain: how much and whose freedom is to be celebrated? The differing answers among voters might affect the results of the national elections on 8 May . South Africans can still not celebrate freedom from want.

AMCU faces deregistration by labour department

The Labour Department has said it intends to deregister one of the country's biggest mining unions, just weeks before crucial platinum-industry wage talks are expected to begin. The Association of Mineworkers and Construction Union (AMCU) "has ceased to function in terms of its constitution," and "is not a genuine trade union," the registrar of labour relations said in a notice published in the Government Gazette. It didn't provide further details.

The Week Ahead with Chris Gilmour - 23 April 2019

The week kicked off with Brent crude oil hitting a recent high of just under $75/bbl on news that the White House has ended sanctions waivers on countries that buy oil from Iran. If implemented fully, this may well result in Iran's economy being strangled and with the US, Saudi Arabia and the UAE promising to make up any shortfall, the price impact on oil should be minimal. The S&P 500 closed -0.1% lower at 2 905 on Thu 18 Apr.

PRESS DIGEST- British Business - April 24

April 24 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times The chief executive of Taylor Wimpey PLC has moved to defuse a potential row by pulling out of plans to buy a luxury flat from the house-builder at a £436,000 ($563,966.00) discount to the original asking price.

GLOBAL MARKETS-Asian shares up after Nasdaq, S&P 500 hit record highs

* MSCI Asia ex-Japan +0.1 pct * Oil prices retreat after surging on supply concerns * Asian stock markets: tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, April 24 (Reuters) - Equity markets in Asia rose on Wednesday morning after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent in early trade in Asia. The gains followed a strong performance on Wall Street, driven by robust results from Coca-Cola, Twitter, United Technologies and Lockheed Martin.

Oil dips on well supplied markets despite tighter Iran sanctions

* IEA says oil markets are adequately supplied * U.S., OPEC spare capacity to fill in for lost Iranian supply By Henning Gloystein SINGAPORE, April 24 (Reuters) - Oil prices inched lower on Wednesday on signs that global markets remain adequately supplied despite a jump to 2019 highs this week on Washington's push for tighter sanctions against Iran. Brent crude futures were at $74.24 per barrel at 0058 GMT, down 27 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $66.02 per barrel, down 28 cents, or 0.4 percent, from their previous settlement. Crude futures rose to 2019 highs earlier in the week after the United States said on Monday it would end all exemptions for sanctions against Iran, demanding countries halt oil imports from Tehran from May or face punitive action from Washington. U.S. sanctions against oil exporter Iran were introduced in November 2018, but Washington allowed its largest buyers limited imports of crude for another half-year as an adjustment period. With Iranian oil exports likely declining sharply from May as most countries bow to U.S.

PRECIOUS-Gold prices dip as stock markets, dollar climb

April 24 (Reuters) - Gold prices eased on Wednesday, remaining near a four-month low touched in the previous session as the dollar strengthened and Asian shares rose after the Nasdaq and S&P 500 indexes marked record closing highs. FUNDAMENTALS * Spot gold had fallen 0.1 percent to $1,270.40 per ounce by 0105 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. * U.S.

Gold prices dip as stock markets, dollar climb

April 24 (Reuters) - Gold prices eased on Wednesday, remaining near a four-month low touched in the previous session as the dollar strengthened and Asian shares rose after the Nasdaq and S&P 500 indexes marked record closing highs. FUNDAMENTALS * Spot gold had fallen 0.1 percent to $1,270.40 per ounce by 0105 GMT, having hit its lowest since the end of last year at $1,265.90 in the last session. * U.S. gold futures were 0.1-percent lower at $1,272.50 an ounce. * Equity markets in Asia rose on Wednesday morning after positive earnings helped the Nasdaq and S&P 500 indexes to set record closing highs on Wall Street overnight, while oil retreated from near six-month highs. * The dollar hovered near a 22-month peak against its peers on Wednesday, after strong U.S. housing data further eased concerns of a slowdown in the world's biggest economy. * Sales of new U.S.

Mafia-style BEE ‘tenderpreuners' killing business with economic terrorism

The number of opportunists demanding a 30% stake in tenders won by established companies continues to grow unchecked The new tendency of pseudo-entrepreneurs demanding a stake in public tenders won by companies poses a serious threat to the country and its economy. A society's descent into lawlessness does not happen overnight. It takes place over a number of months and years, often indirectly encouraged by authorities' failure to take decisive, punitive action against those committing criminal acts. Inevitably, a society whose leaders tolerate — or conveniently turn a blind eye to — any form of criminality or malfeasance deteriorates over time into a state of utter anarchy. SA is not there yet, but it could easily get there if the situation is not arrested speedily.

Business Maverick: Eskom `Is Not on the Brink of Financial Collapse,' Gordhan Says

Public Enterprises Minister Pravin Gordhan defended Eskom after after documents last week showed the state was forced to pay R5 billion ($353 million) in emergency funds so that Eskom Holdings SOC Ltd. — which is battling with declining revenue, higher costs, and keeping the lights on — could meet obligations. "We have had an extreme financial difficulty as a result of state capture — the damage that has been caused has been huge," Gordhan said on Johannesburg-based Talk Radio 702.

BUSINESS MAVERICK: Devil's in the detail as government toys with regulating Airbnb

Echoing calls to regulate ride-share platform Uber in South Africa, which has disrupted the taxi industry worldwide, has spilt over into the local tourism industry players, which have called for Airbnb to be regulated. The Department of Tourism has heard the cries, but not everybody is happy with the proposals. --.

Deep sea mining boss says new law could be adopted next year

* China most active, with a fifth exploration project * Even if mining law adopted in 2020, mining still years away By Barbara Lewis LONDON, April 24 (Reuters) - China and a quest for battery minerals have injected momentum into a long U.N. process to agree a law on deep sea mining, which could be adopted by the end of 2020, if the political will exists, the head of the International Seabed Authority (ISA) said. So far the U.N.

Union that disrupted SA mining faces deregistration

(Bloomberg) -- South Africa's Labor Department said it intends to deregister one of the country's biggest and most aggressive mining unions, just weeks before crucial platinum-industry wage talks are expected to begin. The Association of Mineworkers and Construction Union "has ceased to function in terms of its constitution," and "is not a genuine trade union," the registrar of labor relations said in a notice published in the Government Gazette. It didn't provide further details.

PSG GROUP LIMITED - Reviewed Preliminary Consolidated Financial Results For The Year Ended 28 February 2019

PSG PGFP 201904240030A Reviewed Preliminary Consolidated Financial Results For The Year Ended 28 February 2019 PSG Group Limited Incorporated in the Republic of South Africa Registration number: 1970/008484/06 JSE Ltd (‘JSE') share code: PSG ISIN code: ZAE000013017 (‘PSG Group' or ‘PSG' or ‘the company' or ‘the group') PSG Financial Services Limited Incorporated in the Republic of South Africa Registration number: 1919/000478/06 JSE share code: PGFP ISIN code: ZAE000096079 (‘PSG Financial Services') REVIEWED PRELIMINARY CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED 28 FEBRUARY 2019 • Recurring earnings up 9% to R10.86 per share • Sum-of-the-parts value of R329.73 per share as at 18 April 2019 • Dividend for the year up 10% to R4.56 per share OVERVIEW PSG is an investment holding company consisting of underlying investments that operate across a diverse range of industries, which include banking, financial services, education and food and related business, as well as early-stage investments in select growth sectors. PSG's market capitalisation (net of treasury shares) is approximately R60bn. PERFORMANCE The two key benchmarks used by PSG to measure performance are sum-of-the-parts (‘SOTP') value and recurring earnings per share, as long-term growth in PSG's SOTP value and share price should depend on, inter alia, sustained growth in the recurring earnings per share of our underlying investments. SOTP The calculation of PSG's SOTP value is simple and requires limited subjectivity as more than 90% of the value is calculated using JSE-listed share prices, while other investments are included at market-related valuations. At 28 February 2019, the SOTP value per PSG share was R311.45 (2018: R255.17), representing a 22% increase.

GLOBAL MARKETS-European shares hit highest since August on Credit Suisse, SAP

* European shares hit highest in nearly nine months* Credit Suisse profit tops view, eyes on earnings * Aussie dollar, Turkish lira slide * Global shares performance year-to-date: https://tmsnrt.rs/2IERhC0 (Adds Wall Street pre-open) By Tom Arnold LONDON, April 24 (Reuters) - World shares pared back losses on Wednesday as positive earnings in Europe from Credit Suisse and investor support for SAP helped soothe worries that China has put broader stimulus on hold. European shares crept into positive territory, with the pan-regional STOXX 600 index .STOXX edging up 0.1 percent to reach its highest level since Aug. 1. Germany's DAX .GDAXI shrugged off a business survey showing German business morale deteriorated in April, to rise 0.8 percent.

Political formations interfered in botched Sagarmatha deal, says PIC company secretary

Bongani Mathebula says an attachment alleged to be from Kopano ke Matla endorsing the deal was sent to her from Iqbal Survé's e-mail address Former Public Investment Corporation (PIC) CEO Dan Matjila allowed political parties and trade unions to interfere with the PIC's investment decisions, the state-owned asset manager's company secretary, Bongani Mathebula, told the commission of inquiry into the affairs of the PIC on Wednesday. Mathebula said political formations including the EFF, the Police and Prisons Civil Rights Union's (Popcru's) investment arm PGC, the Federation of Unions of SA (Fedusa) and Cosatu's Kopano ke Matla wrote to the PIC endorsing investment in Iqbal Survé's botched Sagarmatha Technologies deal. Mathebula, who was suspended from the PIC in 2018 but reinstated by the new board in March, said Matjila asked her to forward these parties' e-mails to the PIC's investment committee in order to influence its decision to approve the transaction. "The interference by unions and political formations in the board and investment processes facilitated by the CEO is not in line with the investment and governance processes at the PIC," said Mathebula. She said she had never been asked before to forward e-mails from third parties to the investment committee for consideration when the PIC was looking at possible investee companies. The e-mails were sent by Fedusa general secretary Dennis George, Popcru CEO Zwilenkosi Mdletshe and Steve Thabedi from Kopano, while an attachment that was alleged to be from Kopano was sent from Survé's e-mail address. The EFF's Mbuyiseni Ndlozi said Mathebula ought to have named the person who sent the e-mail and therefore he could not respond to the allegation. PGC Group chief investment officer Ntombi Boikhutso said PGC always supported investment opportunities that would benefit workers and the public.

German business sentiment drop hits euro; dollar broadly stronger

* Australian dollar sheds 1 pct after softer CPI * Sterling at two-month lows as dollar and Brexit weigh (Updates market action, adds analyst's comment) By Saqib Iqbal Ahmed NEW YORK, April 24 (Reuters) - The euro slumped to a 22-month low against the U.S. dollar on Wednesday after a surprise drop in a leading indicator for economic activity in Germany highlighted the divergence between economic data in the United States and the euro zone. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe's largest economy. The euro fell 0.68% to $1.1149, its lowest since June 2017. The common currency was on pace for its worst one-day fall in about seven weeks. "The broader importance of the German data is that market participants had been hoping that the rebound in Chinese monetary conditions, in lending in China, would help to boost demand for German exports and would lift spirits in the euro zone's core economies," said Karl Schamotta, director of foreign exchange strategy and structured products at Cambridge Global Payments. "We are seeing successive prints that show that Germans are not necessarily turning more positive here," said Schamotta. The greenback has fared well in recent weeks supported by upbeat data. "The dollar is winning the reverse beauty contest," said Schamotta. "It's not necessarily that fundamentals of the U.S.

FOREX-German business sentiment drop hits euro; dollar broadly stronger

* Australian dollar sheds 1 pct after softer CPI * Sterling at two-month lows as dollar and Brexit weigh (Updates market action, adds analyst's comment)By Saqib Iqbal Ahmed NEW YORK, April 24 (Reuters) - The euro slumped to a 22-month low against the U.S. dollar on Wednesday after a surprise drop in a leading indicator for economic activity in Germany highlighted the divergence between economic data in the United States and the euro zone. German business morale deteriorated in April, bucking expectations for a small improvement, as trade tensions hurt the industrial engine of Europe's largest economy. euro EUR= fell 0.68% to $1.1149, its lowest since June 2017.

Five good reasons that outsourcing back in business

Organisations started outsourcing specific business activities in the 1990s, mainly as a cost-saving measure. Functions not related to the core business, such as accounting, human resources, data processing, security and maintenance were contracted out to specialised service providers rather than handled by internal staff and resources. According to Statista.com the global market size dipped in 2016 but has picked up significantly since then climbing to 85.6 billion US dollars in 2018.

Technology, resources stocks on opposite side of markets' scale

Despite most mining companies having a poor performance, iron-ore prices remained robust. The local All Share Index ended the day firmly in the red today, on the back of financials that seemed to be hit quite hard, down by 1.7% on the day. The local currency has continued to lose ground as well, trading at 14.41 against the US dollar.

Brazil markets slump as pension reform reality bites

(Updates with closing market prices) By Jamie McGeever BRASILIA, April 24 (Reuters) - Brazilian markets slumped on Wednesday, a day after a planned pension overhaul cleared a congressional hurdle following a lengthy debate that highlighted the government's struggle to build support for its signature reform policy. The real had one of its worst days of the year, falling through 3.99 per dollar for the first time in almost a month , bringing the psychological barrier of 4.00 within touching distance. The Bovespa stock market fell 0.9 percent to 95,045.43 points, while market interest rates and bond yields jumped. The yield on Brazilian 10-year bonds rose 11 basis points, its biggest rise in a month. Any optimism over the Constitutional and Legal Affairs Committee's (CCJ) vote by 48 votes to 18 approving the pension reform bill's constitutionality quickly evaporated as investors focused on the obstacles ahead rather than the one just cleared. "After the government struggled to get the bill through the CCJ, markets are asking of the government: 'Is that the best you can do?'" said Jose Francisco de Lima, chief economist at Banco Fator in Sao Paulo. Unexpectedly bad March jobs data and tax revenue figures also added to concerns about Brazil's sputtering economy, weighing on investor sentiment. Jose Carlos Faria, head of Latin America Economic Research at BNP Paribas in Sao Paulo, said the CCJ vote keeps pension reform approval on track for October, with anticipated savings of only 500-600 billion reais over the next decade — far below the government's 1.1 trillion reais ($275 billion) target. He noted four changes the CCJ made to the original bill, removing passages that would have: -tweaked rules for a worker severance fund -let the minimum retirement age be changed through ordinary legislation -directed litigation against the

Khanyi Dhlomo impressive career journey explained

Khanyi Dlomo, fully known as Khanyisile Dhlomo is a celebrated South African TV host as well as the founder of Ndalo Media and Ndalo Luxury Ventures. She started her career really young as a newcaster and later moved to magazine at the age of 22 years. Around the same time, she became the Editor of True Love Magazine.

South Africa's Life Healthcare warns on earnings after disposal

NETCARE:   2,368     -41 (-1.70%)   24/04/2019 00:00 (Adds shares, details) JOHANNESBURG, April 24 (Reuters) - South Africa's Life Healthcare said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India's Max Healthcare, impairments and other investments. Shares in the company fell 5.30 percent to 26.27 rand after the private hospital operator predicted headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. HEPS is the main profit measure used in South Africa and strips out certain one-off items. In September, Life Healthcare said it would sell its 49.7 percent stake in Max Healthcare to KKR-backed Radiant Life Care Pvt Ltd for 4.3 billion rand ($300 million). Life Healthcare also cited a 256 million rand marked-to-market valuation loss related to the disposal, as one of the factors impacting HEPS, along with an increase in contingent consideration relating to past company acquisitions. Marked-to-market accounting is a way of valuing assets based on how much they could sell for under current market conditions. Group revenue is expected to rise by between 8.6 percent and 10.4 percent, while normalised earnings before interest, tax, depreciation and amortization (EBITDA) will increase as much as 4.8 percent. Life Healthcare competes with listed rivals Mediclinic International and Netcare Ltd. Last Wednesday Mediclinic hit a more than three-month high on after it reassured investors with a forecast for net profit that was in line with market expectations despite a tough business backdrop. ($1 = 14.3247 rand) (Reporting by Nqobile Dludla; editing by Jason Neely and Elaine Hardcastle) 2019-04-24 13.

Business called to lead transformation in fishing industry

Agriculture, Forestry and Fisheries (DAFF) Minister, Senzeni Zokwana, has urged all players in the fishing industry to come to the party to ensure that the sector's transformation agenda is realised during the 2020 Fishing Rights Allocation Process (FRAP2.

A Surge in Oil Prices Lift Global Markets

South Africa The JSE closed in the green on its first day of trading for the week thanks to rand hedges and Sasol (JO:SOLJ), which rose on higher Brent crude prices and a softer rand, while interest rate-sensitive shares weighed on the market. United States US markets were boosted when they opened on Tuesday by tech shares and positive earnings reports from powerhouses such as Coca-Cola (NYSE:KO) and Twitter. Just after the JSE closed, the Dow Jones was 0.47% higher.

Life Healthcare warns on earnings after disposal

The company's half-year earnings could fall as much as 55%. South Africa's Life Healthcare said on Wednesday half-year earnings could fall as much as 55% due to costs related to the disposal of its stake in India's Max Healthcare, impairments and other investments. The private hospital operator said it expects headline earnings per share (Heps) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. Heps is the main profit measure used in South Africa and strips out certain one-off items. In September, Life Healthcare said it would sell its 49.7% stake in Max Healthcare to KKR-backed Radiant Life Care for R4.3 billion ($300 million)..

The business case for microgrids

The utility industry is in the midst of grid modernisation efforts that ramped up in large part following the Northeast Blackout of 2003. That massive blackout was a wake up call to utilities and consumers alike, compounding the concerns about climate change, the burgeoning population and scarcity of natural resources. The blackout spurred the industry to aggressively pursue a more intelligent power grid.

A.I. AgriBusiness is Good Business

Picture: Public Domain PicturesWith Africa poised to have the largest workforce by 2035, will we have enough food? By Nnamdi Oranye and Ryan Peter I'm sure you know by now, but we're at the dawn of a new age. When you studied history at school, you probably (at least once) wondered about what it might have been like to live in the dawn of the industrial revolution, or the advent of the Renaissance, or perhaps even the Tang dynasty in China, or some other key time period in human history. But in generations to come, people will wonder what it was like to live in *your* time period - the emergence of a new technological age; the time of the Fourth Industrial revolution; the time when humanity and technology began to converge. What will be the outcome? It remains to be seen.

Interpol rescues dozens of child slaves from markets in West Africa

By DAKAR (Thomson Reuters Foundation) - Police have rescued 216 human trafficking victims, mainly children, from forced labour and prostitution in a major operation in Benin and Nigeria, Interpol said on Wednesday. Operation Epervier II involved 100 police officers across the two countries who rescued 157 child slaves, said the global police organisation, which coordinated the raids in early April. Many of the children were working in markets peddling goods, carrying heavy loads or fetching water, while others worked as housemaids or were forced into prostitution, Interpol said.

JSE slips as firmer dollar weighs on banks and miners

Upbeat US corporate reports sent US markets to a record high on Tuesday, but a firmer dollar puts pressure on interest-rate sensitive stocks and miners The JSE slipped in broad-based losses on Wednesday morning, as positive US corporate earnings reports failed to spark risk-on global trade. Concerns that the Chinese government might pare stimulus measures was weighing on stocks. The dollar was benefiting from both interest in safe-haven assets, as well as from healthy reports from major US companies. Diversified miners and retailers were under the most pressure, with the former reacting to the oil price easing off a six-month high reached on Tuesday. A firmer dollar environment generally puts pressure on miners, as it makes commodities more expensive for those buying in other currencies. Local news was also downbeat, with the FNB/Bureau of Economic Research business confidence index showing that conditions were gloomy in the first quarter of 2019.

Property owner EPP plans to raise R1.2bn by issuing shares

EPP, the Polish retail landlord formerly known as Echo Polska Properties, plans to raise R1.2bn by selling new shares in Johannesburg and Luxembourg. "The equity raise is being undertaken in part to facilitate the introduction of a significant new equity investor that has committed to investing, through its participation in the bookbuild, at least €75m (R1.2bn) into EPP," the group said. The bookbuild process, which opened immediately, would also allow other investors to buy shares at the book price. "The company reserves the right to increase the size of the equity raise and close it at any time … The equity raise is subject to pricing acceptable to EPP," said the group, which is headed by Hadley Dean. Java Capital is acting as sole bookrunner. EPP's shares opened 1.8% lower on Wednesday morning, giving the group a market capitalisation of R15.8bn. Vukile Property Fund, another JSE-listed property owner with links to Europe, also issued new stock in recent weeks. In early April, Vukile raised R700m to fund investments in Spain. "The proceeds of the capital raise are to be deployed to fund asset management opportunities within the portfolio held via Vukile's Spanish subsidiary, Castellana Properties Socimi," it said at the time. hedleyn@businesslive.co.za.

19 firms now listed on JSE competitor

became the latest large South African company to start trading its shares on the A2X exchange. Its primary listing will remain on the Johannesburg Stock Exchange. Earlier this month Aspen Pharmacare listed on the A2X exchange.

Life Healthcare says option contracts dented earnings

Life Healthcare Group says earnings in the six months ended March fell partly because of losses on foreign exchange option contracts linked to the sale of its stake in India's Max Healthcare. Even though revenues grew by up to 10.4%, thanks to the international business, headline earnings per share (HEPS) fell by up to 55.1% in the interim period, Life Healthcare said on Wednesday. Its shares fell 5.4% to R26.25. After agreeing to sell its stake in Max Healthcare — it expects proceeds of R3.9bn — the group entered into foreign exchange option contracts to mitigate the risk of currency fluctuations before the deal was closed. The marked-to-market loss on the option contracts in place during the interim period was R256m net of tax, the company said. The group, which is headed up by Shrey Viranna, said earnings were also dented by investments in the business, higher transaction costs, the writing-off of unused software in SA, and increased contingent payments for past deals. Meanwhile, group revenue grew by up to 10.4% to R12.5bn thanks to an increase of up to 21.7% in the international operations. Normalised earnings before interest, tax, depreciation and amortisation (ebitda) grew by up to 4.8% to a maximum of R2.8bn. Normalised ebitda margins fell to about 22% from 23.6%, Life Healthcare said. "The group experienced a positive first six months to the 2019 financial year," it said. Earlier in April, Mediclinic International also said margins were falling in Southern Africa and Switzerland. Mediclinic, which warned about possible non-cash impairments, said adjusted earnings per share fell by about 10% to 27p. In Southern Africa, revenue grew by about 5%, although ebitda margins fell to about 21% from 21.5% on low volume growth. In the 2020 financial year, the ebitda margin in the region would probably decline to about 20%, Mediclinic said at the time. hedleyn@businesslive.co.za.

UPDATE 1-FTSE 100 off multi-month peak on China stimulus policy concerns

* FTSE 100 down 0.6 pct * FTSE 250 down 0.1 pct * Metals companies, oil majors top drags * Mid-cap Centamin jumps on strong Q1 (Adds company news items, updates share moves) April 24 (Reuters) - Britain's main equities index moved away from a near seven-month high as oil majors weakened amid signs that global markets remain adequately supplied, while miners were hit by concerns China will reduce its economic stimulus. The FTSE-100 index was down 0.6 percent at 0810 GMT, underperforming its European counterparts, and the midcaps were down 0.1 percent. Oil majors Shell and BP dropped from multi-month highs as crude prices retreated after having jumped to their 2019 highs this week as the United States pushed to tighten sanctions against Iran.

Injury could ruin Itumeleng Khune's Afcon chances

Kaizer Chiefs coach Ernst Middendorp has insisted that it is Bafana Bafana coach Stuart Baxter's decision to take goalkeeper Itumeleng Khune to the Africa Cup of Nations or not. Middendorp reiterated that Khune - who was ruled out for the rest of the season with a severe shoulder injury in January - will not be returning to the field of play this season. As a result, the 31-year old has hardly seen any game time.

South Africa's Life Healthcare warns on earnings after disposal

JOHANNESBURG, April 24 (Reuters) - South Africa's Life Healthcare said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India's Max Healthcare, impairments and other investments. The private hospital operator said it expects headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. HEPS is the main profit measure used in South Africa and strips out certain one-off items.

Moleketi rails against allegations

Former deputy finance minister Jabu Moleketi and his colleagues on Tuesday rejected UDM leader Bantu Holomisa's claims that their businesses have received questionable funds from the PIC. Former deputy finance minister Jabu Moleketi has questioned UDM President Bantu Holomisa's motives for suggesting he and his colleagues may have used their influence at the PIC to access funding while working in the private sector. Moleketi, who served as PIC chairperson while he was deputy finance minister between 2004 and 2008, on Tuesday told the PIC Inquiry that Holomisa's testimony was "spurious, damaging and self-serving" and "a little devious".

EMERGING MARKETS-Emerging-market currencies hit by strong dollar; stocks fall

* U.S. economic data help the dollar * South Korean won, shares hurt by Texas Instruments outlook * Russian rouble, stocks pulled down by lower oil prices By Aaron Saldanha April 24 (Reuters) - Emerging-market currencies fell on Wednesday against a dollar strengthened by U.S. economic data.

The Rapid Growth of Digital Business in Africa: Acha Leke, Partner, McKinsey

The latest technology firm to list on the New York Stock Exchange is not from Silicon Valley but from Africa. Jumia , an e-commerce platform with over 4 million customers in 14 African countries, saw its shares jump by around 70% on its NYSE debut day on April 12th. That put the company's market capitalization at close to $2 billion, cementing its status as Africa's first technology unicorn.

Leveraging emerging tech for sustainable development

Traditional businesses are transforming into digital businesses at an exceedingly rapid pace, as a result of the wave of disruption that has swept across the industry, and that's why it's vital for us to ensure that digital solutions are at the core of sustainable development, says Rudi Matjokana, managing Eexecutive: Vodacom Business Public Enterprise. Our networked society is changing the way we live, as the impact and implications of the digital revolution become more evident with each passing hour. The 2030 Agenda for Sustainable Development recognises the great potential for global connectivity to spur human progress, and challenges us to ensure universal and affordable internet for all.

Talking Books Ep 63: Building a Successful Kasi Business - the rise of a...

It is often a challenge for aspiring township entrepreneurs to establish and run a productive, compliant and profitable business, because they don't know where to start. Isaac Mavuso joins CNBC Africa's Jill de Villliers to give pointers and to discuss his book Building a Successful Kasi Business - the rise of a township entrepreneur.....

EMERGING MARKETS-Emerging-market currencies hit by strong dollar; stocks fall

* U.S. economic data help the dollar * South Korean won, shares hurt by Texas Instruments outlook * Russian rouble, stocks pulled down by lower oil prices By Aaron Saldanha April 24 (Reuters) - Emerging-market currencies fell on Wednesday against a dollar strengthened by U.S. economic data.

Meet the finalists for the 2019 Absa Business Day Supplier Development Awards

The finalists of the second annual Absa Business Day Supplier Development Awards have been announced. The awards recognise supplier development best practice in South Africa and acknowledge those successful programmes that are making a lasting impact on the SA economy. " data-lazyauto="true"> Last year's Supplier Development Awards finalists.

National Arts Fest's main programme released

The lineup for the main programme of the National Arts Festival has been unveiled. The annual arts festival will be held in Makhanda (formerly Grahamstown) from 27 June to 7 July 2019. This year's main programme forms part of a much broader offering of uncurated, unsolicited works and multiple focus areas for discussion and experience.

South Africa's Life Healthcare warns on earnings after disposal

JOHANNESBURG, April 24 ( ) - South Africa's Life Healthcare LHCJ.J said on Wednesday half-year earnings could fall as much as 55 percent due to costs related to the disposal of its stake in India's Max Healthcare MAID.NS , impairments and other investments. The private hospital operator said it expects headline earnings per share (HEPS) for the six months ended March 31 of between 24.1 cents and 29.5 cents, down from 53.7 cents a year earlier. HEPS is the main profit measure used in South Africa and strips out certain one-off items. In September, Life Healthcare said it would sell its 49.7 percent stake in Max Healthcare to KKR-backed KKR.N Radiant Life Care Pvt Ltd for 4.3 billion rand ($300 million). = 14.3247 rand).

Business Maverick: Kraft Heinz's Problems Run Deeper Than Its CEO

Kraft Heinz announced on Monday that Bernardo Hees, 49, will step down on July 1 after a string of troubling developments in recent months. Last quarter, it took a $15.4 billion write-down, slashed its dividend and disclosed a subpoena from the U.S. Securities and Exchange Commission associated with an investigation into certain accounting policies.

Shoprite reaches deal to curb Wiese's control

By eliminating the two-tier capital structure, the retailer says its stock is likely to be more appealing to institutional investors. Shoprite has struck a deal to eliminate the deferred shares held in the group by chairman Christo Wiese, which carry significantly more voting power at the retailer than its ordinary shares. While the proposed transaction will lessen Wiese's voting power, it will also be dilutionary for shareholders.

Business Maverick: Pinterest Tops Targeted IPO Range to Raise $1.4 Billion

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Business Maverick: Cartoon Friday: Rico

Home Page JTNDZGl2JTIwaWQlM0QlMjJOZ<wbr/>WFyQnV5TGluayUyMiUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUzQ2RpdiUyMGNsYXN<wbr/>zJTNEJTIyY29udGFpbmVyJTIyJTNFJ<wbr/>TBBJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTNDZGl2JTIwc3R5bGUlM0Q<wbr/>lMjJ3aWR0aCUzQSUyMDI2MHB4JTNCJ<wbr/>TIwZGlzcGxheSUzQSUyMHRhYmxlJTN<wbr/>CJTIwdGV4dC1hbGlnbiUzQSUyMGNlb<wbr/>nRlciUzQiUyMG1hcmdpbiUzQSUyMDA<wbr/>lMjBhdXRvJTNCJTIyJTNFJTBBJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTBBJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTNDJTIxLS0lMjBOZWFyJ<wbr/>TIwQnV5JTIwTGluayUyMDElMjAtLSU<wbr/>zRSUwQSUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUwOSUzQ2RpdiUyMHN0e<wbr/>WxlJTNEJTI3ZGlzcGxheSUzQSUyMG5<wbr/>vbmUlM0IlMjclM0UlMEElMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlM0MlMjEtLSUyMHRzaHd<wbr/>pZmkuY29tJTJGaG9tZV9sb2NhbF9sa<wbr/>W5rX2xlZnQlMjAtLSUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUyMCUzQ2RpdiUyMGlkJ<wbr/>TNEJTI3ZGl2LWdwdC1hZC05NDM4MTM<wbr/>yLTEwJTI3JTIwc3R5bGUlM0QlMjdoZ<wbr/>WlnaHQlM0E4MHB4JTNCJTIwd2lkdGg<wbr/>lM0ExMDAlMjUlM0IlMjclM0UlMEElM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlM0NzY3JpcHQ<wbr/>lM0UlMEElMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjBnb<wbr/>29nbGV0YWcuY21kLnB1c2glMjhmdW5<wbr/>jdGlvbiUyOCUyOSUyMCU3QiUyMGdvb<wbr/>2dsZXRhZy5kaXNwbGF5JTI4JTI3ZGl<wbr/>2LWdwdC1hZC05NDM4MTMyLTEwJTI3J<wbr/>TI5JTNCJTIwJTdEJTI5JTNCJTBBJTI<wbr/>w

Business Maverick: Reported Fires Threaten China's Electric-Car Quest

In China, where the quality and safety of electric vehicles and their batteries have been increasingly called into question, electric cars bursting into flames have underscored longstanding issues with China s electric-vehicle push, writes Adam Minter for Bloomberg Opinion..

Kraft Heinz's new CEO looks beyond cost-cutting, big M&A

CHICAGO, April 22 (Reuters) - Kraft Heinz Co's incoming chief executive, Miguel Patricio, is indicating a change in strategy for the packaged food company that could move it away from the aggressive cost-focused culture that has been in place since the company was created in 2015. Patricio, a 52-year-old Portuguese native who will take over the helm of the world's fifth biggest food company from July 1, said he plans to focus more on efficiency, investing in brands and growing sales organically at a company that has been reeling from a $15.4 billion writedown on some of its brands. Kraft Heinz's focus on cost-cutting and interest in scoring a big acquisition have been key to the company's strategy under management installed by Brazilian private equity firm 3G Capital.

BUSINESS MAVERICK: China, South Africa and the middle-income trap

People work on machines in Foxconn factory in Guiyang, Guizhou Province, China, 28 May 2018. Guiyang Foxconn factory produced 16 million smartphones for Nokia and Huawei in 2017 and hope to reach 30 million in 2018. Foxconn Technology Group is a multinational electronics contract manufacturing company headquartered in Taiwan.

Tech start-up Snapt snags Nasa and billionaires' backing

South African founder who dropped out of high school is now a global tech player. When Nasa wanted to phone home from outer space, a company it chose to help make the call was Snapt, a start-up from Johannesburg backed by billionaires Johann Rupert and Nicky Oppenheimer that has now landed in Silicon Valley. Snapt founder Dave Blakey was just 14 when, together with his father, he started a computer company that developed hardware to manage bandwidth. Now his company Snapt does much and more of the same thing - helping manage computer traffic, balance loads among servers and accelerate web flow - but in software format. "For a website, it may be that one server is not enough for the traffic being generated and they need something that balances loads to the servers," Blakey, 34, said over sparkling water in a recent interview.

It's about ideology, rather than biology for ATM's 31-year-old leader

He is 31 years old, single, holds a business management degree from the Nelson Mandela University and is currently working towards attaining an honours degree in that subject through Unisa. One would be forgiven for thinking these sound like the credentials of a young man looking for love on an online dating site. In actual fact, they are the credentials of Vuyolwethu Zungula, the leader of the African Transformation Movement (ATM) political party and one of 48 party leaders vying to be the sixth democratically elected president of South Africa after the May 8 elections.

PRESS DIGEST- British Business - April 23

April 23 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times The property division of Royal Bank of Scotland's scandal-hit restructuring division paid out dividends of almost 450 million pounds ($584.10 million) as it sold off customers' assets.

RBS tops up small business support fund, downplays Brexit effect

By Iain Withers LONDON, April 23 (Reuters) - British state-controlled lender the Royal Bank of Scotland has doubled its funding pot to support small businesses to 6 billion pounds ($7.8 billion), but says the extra cash is no longer primarily for Brexit-proofing businesses. NatWest, the biggest trading arm of RBS, said it had topped up its so-called Growth Fund in response to high demand from firms in industries including green energy and technology. The lender previously topped up the fund from 1 billion pounds to 3 billion pounds in October. It said at the time that it was doing so after identifying nearly 2,000 businesses it lent to that were likely to suffer payment or supply problems due to Britain's exit from the European Union. Since then, Brexit has been repeatedly delayed amid deadlock in parliament and it is now unclear how Britain will leave the EU, if at all. Brexit remained a core driver behind expanding the fund, NatWest said, but stressed other factors. "It's really about demand from growth sectors in the UK economy," Mike Slevin, head of capital management at NatWest, told Reuters. "Obviously it remains fully available for companies that require extra support for Brexit-related purposes as well." Customers were unlikely to roll back facilities taken out to prepare for Brexit while uncertainty continued, Slevin said, but demand for such products has "waned somewhat" in recent weeks. Banks have been keen to promote their small business lending credentials ahead of Brexit, but groups representing small firms have expressed scepticism. Rival lender Barclays announced a 14 billion pound fund over three years to help small firms manage uncertainty including Brexit last month. However, Barclays' fund included all projected lending to small companies over a three-year period, rather than just extra cash over day-to-day funding.

Is there a political party that can take SA forward?

The long-term interventions required will, almost without exception, be unpopular among voters. Over the past few months, I've been doing what one might call an ‘observation study'. Highly unscientific, it involves counting the number of days in a working month where I drive the 10.6 kilometres from my house to Moneyweb's office in Houghton Estate, Johannesburg (and back), without observing a single person jumping a red traffic light. It doesn't happen often. In fact, I cannot remember when last I had a ‘clean' trip.

Does it matter what your fund manager looks like?

Why should we care if the asset management industry is dominated by men? Figures released this month These numbers highlight an industry question that is far from limited to the UK. Around the world, asset managers are being asked, and often asking themselves, where are the senior women? Read: Where are the women money managers? Perhaps a more subtle question, however, is why it should matter. If an asset manager is delivering value for investors in terms of performance outcomes, why should anyone worry about what the individuals making the investment decisions look like? For Jeanette Marais, CEO of Momentum Investments, there are practical economic reasons why the issue is worth addressing "Probably half the students who leave university with a degree are women, but we lose them somewhere along the line," says Marais.

Preservation funds: Which one's the best and why can't I access my money?

Asset managers have a fund for each likely objective while pension preservation and provident preservation funds have different rules for withdrawal of funds Q: Please, if you can advise, which is a better preservation fund out of the following: Sanlam, Alexander Forbes, 10X or Allan Gray — S Magagula via e-mail. A: Ian Beere CA (SA) CFP®, MD & wealth manager at Netto Invest responds: There are no wrong or right answers to this, but I hope to provide some understanding. When transferring your pension or provident credit to a preservation fund, there are three things to determine. Who am I happy with to be my administrator? The administrator is the responsible custodian of your money and is accountable to the Financial Sector Conduct Authority (FCSA) for its safety, investing it in the funds you select, sending you regular reports, attend to tax and other compliance. What is my investment objective? If you are close to retirement your objectives may be different to those of a young professional.

South Africans are downgrading their medical aids to try save money

In an average year, only 2-3% of Alexander Forbes Health medical aid members change plans - but these figures have more than doubled in the past two years. In 2018, Alexander Forbes Health saw a 5.2% of their clients making changes to their plans, almost equally up and down. In 2019, there was a 6.7% average, reflecting a 3.8% downgrade and 2.9% upgrade.

Proteas back Amla for World Cup

The uncertainty over the veteran's inclusion is over after the national selectors backed his pedigree for the tournament. Hashim Amla in action during the 5th Momentum One Day International between South Africa and Pakistan at PPC Newlands on 30 January 2019 in Cape Town, South Africa. Photo: The Citizen CRICKET NEWS - The national selectors on Thursday decided to back pedigree and experience by including veteran Hashim Amla in the Proteas' World Cup squad for the showpiece tournament in England.

Manuel vs EFF: I want to vindicate my name, as well as Sars and Treasury

Trevor Manuel says his court battle with the Economic Freedom Fighters is not only to clear his name, but also to protect the integrity of National Treasury and the South African Revenue Service (Sars). The former finance minister filed a founding affidavit at the high court in Johannesburg on April 10 against the Economic Freedom Fighters (EFF), the party's leader Julius Malema and its national spokesperson Mbuyiseni Ndlozi in response to a claim by the EFF that he is a relative of new Sars head Edward Kieswetter , and that the two had a close business relationship.  In court papers Manuel states he filed the application to "vindicate" his reputation and that of the Sars selection panel that recommended Kieswetter for the job, and protect the integrity of Treasury and the revenue collection agency.  "I am as concerned about the harm the [EFF] statement does to the Treasury and Sars. The South African public should be disabused of the idea that the Treasury conducted a less than rigourous and honest process and that Mr Kieswetter is not the best person to head up Sars," he said.

Manuel vs EFF: I want to vindicate my name, as well as Sars and Treasury

Trevor Manuel says his court battle with the Economic Freedom Fighters is not only to clear his name, but also to protect the integrity of National Treasury and the South African Revenue Service (Sars). The former finance minister filed a founding affidavit at the high court in Johannesburg on April 10 against the Economic Freedom Fighters (EFF), the party's leader Julius Malema and its national spokesperson Mbuyiseni Ndlozi in response to a claim by the EFF that he is a relative of new Sars head Edward Kieswetter , and that the two had a close business relationship.  In court papers Manuel states he filed the application to "vindicate" his reputation and that of the Sars selection panel that recommended Kieswetter for the job, and protect the integrity of Treasury and the revenue collection agency.  "I am as concerned about the harm the [EFF] statement does to the Treasury and Sars. The South African public should be disabused of the idea that the Treasury conducted a less than rigourous and honest process and that Mr Kieswetter is not the best person to head up Sars," he said.

IMPALA PLATINUM HOLDINGS LIMITED - Acquisition of securities

IMP 201904230042A Acquisition of securities IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ISIN: ZAE000083648 ADR code: IMPUY (‘Implats' or the ‘Company') ACQUISITION OF SECURITIES BY CLIENTS OF FAIRTREE ASSET MANAGEMENT (PTY) LTD In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby advised that Implats has received formal notification by Fairtree Asset Management (Pty) Ltd (‘Fairtree Asset Management'), that the clients of Fairtree Asset Management have acquired an interest in the ordinary shares of the Company, such that the total interest in the ordinary shares of the Company held by the clients of Fairtree Asset Management amounts to 5.06% of the total issued ordinary shares of the Company. Queries: Johan Theron E-mail: johan.theron@implats.co.za T: +27 (0) 11 731 9013/43 M: +27 (0) 82 809 0166 Alice Lourens E-mail: alice.lourens@implats.co.za T: +27 (0) 11 731 9033/43 M: +27 (0) 82 498 3608 23 April 2019 Johannesburg Sponsor to Implats Nedbank Corporate and Investment Banking Date: 23/04/2019 03:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

ESG concerns

Jessica Ground, Global Head of Stewardship at Schroders All company bosses want a policy on corporate social responsibility. The positive effect is hard to quantify, but the negative consequences of a disaster are enormous - Noreena Hertz, an internationally acclaimed Economist. This is the challenge that faces investors in the current day and age.

Rogue, stealth, shadow: The antiheroes of IT

In a dark, gloomy and quiet corner of the office, behind cupped hands, the hushed words are spoken for fear that anyone else should hear: "Shhh, don't say it out loud, but we've got a case of shadow IT." The relentless drip of technology that's not been approved by IT seeping into the organisation is unlikely to slow down. It all started when Michael in accounting realised that he could do things a lot easier with a publically available app he'd found in the Play Store, rather than using the cumbersome beast approved by IT. Now, from the high-level executive down to Susan in legal, everyone has a mobile device loaded with applications that make their lives easier.

Eastern Cape artist wins 2019 PPC Imaginarium Awards

emerging Eastern Cape artist Sonwabiso Ngcai was announced as overall winner of 2019 PPC Imaginarium Awards, taking home R150 000 in cash for his sculpture entitled Isigu, or The Snare. A BASA Award-winning programme, the PPC Imaginarium Awards is the country's most supportive art and design competition with over half-a-million Rand in prizes awarded across six categories - Sculpture, Industrial Design, Film, Fashion, Jewellery and Architecture - to standout entries that express innovation using PPC cement. Ngcai secured both the Sculpture Category prize and the Overall Winner ranking for a thought-provoking entry, which provides an analogy for how certain religious cults are ensnaring their congregants. According to the artist's personal views on the subject matter: "an isigu, in traditional African society, is a contraption used by young boys to hunt birds. It consists of a downward-facing bowl, with one side held open by an upright stick that has a string tied to it, with a few pieces of grain scattered underneath the bowl.

INTU PROPERTIES PLC - Notification of AGM Trading Update

ITU 201904230036A Notification of AGM Trading Update INTU PROPERTIES PLC (Registration number UK3685527) ISIN Code: GB0006834344 JSE Code: ITU LEI: 213800JSNTERD5CJZO95 Regulated Information Classification: Additional regulated information required to be disclosed under the laws of a Member State of the EU. Notification of AGM Trading Update intu properties plc announces that it intends to release an AGM trading update covering the period from 1 January 2019 to 2 May 2019 on Friday 3 May 2019. Susan Marsden Group Company Secretary 23 April 2019 JSE Sponsor: Merrill Lynch South Africa (Pty) Limited Date: 23/04/2019 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

A business delegation from Germany in Addis Ababa

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.Download logo Markus Soder, Minister-President of the German Free State of Bavaria led a delegation to Ethiopia this week.

Go well Matthew Buckland

Former Mail & Guardian online division head and founder of the collaborative news and opinion platform Thought Leader has passed away. He was 45. According to the M&G, Buckland studied journalism at Rhodes University and completed a Harvard Business School executive education course for future leaders with a focus on online business and social networking. Following his time at the M&G, Buckland went on to establish a division at Naspers' online publisher News24.com.

Rogue stealth shadow: The antiheroes of IT

In a dark gloomy and quiet corner of the office behind cupped hands the hushed words are spoken for fear that anyone else should hear: Shhh dont say it out loud but weve got a case of shadow IT.The relentless drip of technology thats not been approved by IT seeping into the organisation is unlikely to slow down. It all started when Michael in accounting realised that he could do things a lot easier with a publically available app hed found in the Play Store rather than using the cumbersome beast approved by IT. Now from the highlevel executive down to Susan in legal everyone has a mobile device loaded with applications that make their lives easier.

Medical aid plan downgrades increase as tough economy bites

Tracy Janssens, Branch Head at Alexander Forbes Health In an average year, only two to three percent of Alexander Forbes Health medical aid members change plans, either upgrading or downgrading, but these figures have more than doubled in the past two years. In 2018, Alexander Forbes Health saw a 5.2% of their clients making changes to their plans - almost equally up and down, and in 2019, there was a 6.7% average, reflecting a 3.8% downgrade and 2.9% upgrade. Health expenditure inflation in South Africa is rising faster than consumer inflation, and over the past five years, has outstripped CPI inflation by up to four percent.

Making satellite work for your business

Satellites are extremely high up in the sky. At 35,000km this is very high, and for some users this just embodies the "up in the air" and "impractical" nature of satellite technologies. In reality, though, the satellite industry is currently fast growing, very dynamic, and rapidly changing, with many innovations being launched or planned in the near future.

Gauteng: No injuries reported at two-vehicle collision on Bryanston Drive

Gauteng: At 08H10 Tuesday morning Netcare 911 responded to reports of a collision on Bryanston drive in Sandton. Reports from the scene indicate that two light motor vehicles were involved in a collision. Fortunately no injuries were reported. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911 https://t.co/VBbZlzL98h #ArriveAlive @Netcare911_sa pic.twitter.com/IHx50SYgJT — Arrive Alive (@_ArriveAlive) April 23, 2.

Newsdeck: Alphabet's Drone Delivery Business Cleared for Takeoff by FAA

An offshoot of Alphabet Inc.'s Google has become the first drone operator to receive government approval as an airline, an important step that gives it the legal authority to begin dropping products to actual customers. The subsidiary, Wing Aviation LLC, now has the same certifications that smaller airlines receive from the U.S. Federal Aviation Administration and the Department of Transportation.

intu Cale Street in joint venture to develop Derby centre

CAPE TOWN intu Properties and Cale Street Investments an investment firm backed by the Kuwait Investment Office have formed a 5050 joint venture for the intu Derby shopping centre.intus share price increased by 2.89 percent to R18.49 on the JSE after the transaction was announced compared with a flat JSE All Property Index at the time but intus share price remains far below its 52week high of R38.04. The share closed 3.06 percent higher at R18.52 on Thursday. Intu chief executive designate Matthew Roberts said the deal was in line with intus strategy considering the challenging investment market of reducing loantovalue through disposals and partdisposals.

MR Price lists on A2X

Mr Price Group has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 2 May 2019. Mr Price retains its listings on the JSE and its issued share capital will be unaffected by its secondary listing on A2X. There is no cost, risk, or additional regulatory compliance for Mr Price as a result of its secondary listing.

NEPI ROCKCASTLE PLC - Environmental social and governance (ESG) rating issued by Sustainalytics

NRP 201904230020A Environmental, social and governance (‘ESG') rating issued by Sustainalytics NEPI Rockcastle plc Incorporated and registered in the Isle of Man Registered number 014178V JSE and Euronext share code: NRP ISIN: IM00BDD7WV31 (‘NEPI Rockcastle' or ‘the Company') ENVIRONMENTAL, SOCIAL AND GOVERNANCE (‘ESG') RATING ISSUED BY SUSTAINALYTICS The Company is pleased to announce that in April 2019, Sustainalytics, a leading independent global provider of ESG and corporate governance research and ratings, rated NEPI Rockcastle's ESG Risk as Low (16.4/100). Sustainalytics concluded that the Company is at low risk of experiencing material financial impacts from ESG factors, due to its low exposure to and average management of material ESG issues. The Company is noted for its strong corporate governance performance, which is reducing its overall risk. NEPI Rockcastle sees strong corporate governance as an enabler of responsible corporate citizenship.

A year after buying Anglo mines, Seriti's Teke content with R2.7bn acquisition

- Facebook Twitter Google+ Pinterest WhatsApp Mike Teke, CEO, Seriti Resources SERITI Resources is one of five companies thought to have been short-listed by South32 in terms of its planned sale of South African Energy Coal (SAEC), the 27 million-ton year (Mt/y) coal producer. The others, according to market sources (and not confirmed by South32 or any of the alleged participants), are Phuthuma Nhleko of Phembani Group in joint venture with Robert Gumede of Gijima Technologies' fame; Sibambene, a new coal entrant which has Vuslat Bayoglu as a shareholder and is in joint venture with Mercuria; Ichor Coal, and a joint venture between Exxaro Resources and Wescoal Holdings. Mike Teke, CEO of Seriti Resources, won't comment on the potential bid for South32, but he does have an admiration for the quality of the assets (which coal producer hasn't?).

Better deal for Shoprite shareholders

DURBAN JSElisted retailer Shoprite Holdings bid to align the company with international best corporate governance practice is gaining momentum after it entered into a tripartite agreement with Thibault Square Financial Services and Titan Premier Investments which will dilute Shoprite chairperson Christo Wieses voting rights.Thibault and Titan belong to Wiese. The completion of the deal will result in Wiese having 17.8 percent voting rights of Shoprite down from 42.3 percent while his direct shareholding in Shoprite will increase to 17.8 percent up from 14.8 percent.As previously announced in February Shoprite is set to buy back the deferred shares owned by Wiese through Thibault Financial Services which carry about 32.3 percent of the voting rights of Shoprite. Shoprite capital structure consists of two share classes: Shoprite Holdings ordinary shares and Shoprite Holdings deferred shares.Last week Shoprite announced that it had entered into a tripartite agreement with Thibault Square Financial Services and Titan Premier Investments in which Titan will receive 20 million new ordinary shares from Shoprite in exchange for deferred shares.The proposed transaction will be implemented through the specific issue of 20 million new Shoprite Holdings ordinary shares to Titan in exchange for the agreement by Titan to acquire the Shoprite Holdings ordinary shares held by Thibault and causing the acquisition and cancellation of the deferred shares by Shoprite Holdings the group said.

Manuel vs EFF: I want to vindicate my name, as well as SARS and Treasury

SAHRC: Why Julius Malema's 'slaughtering' comment is not hate speech The South African Human Rights Commission (SAHRC) released its findings on the investigation into complaints of hate speech against EFF leader Julius Malema on Wednesday. Trevor Manuel Former finance minister Trevor Manuel. RELATED ARTICLES EFF: 'Bully' Trevor Manuel will not silence us with lawsuit Manuel to head to court over EFF's 'libellous' Kieswetter claims How Kieswetter trumped 82 applicants for top SARS job Manuel to EFF: Retract 'false' statement about me and Kieswetter - or else Trevor Manuel heads up search for new SARS boss Kieswetter must make SARS a 'jewel in the state crown' - Judge Davis Trevor Manuel says his court battle with the Economic Freedom Fighters is not only to clear his name, but also to protect the integrity of National Treasury and the SA Revenue Service. The former finance minister filed a founding affidavit at the high court in Johannesburg on April 10 against the EFF, the party's leader Julius Malema and its national spokesperson Mbuyiseni Ndlozi in response to a claim by the EFF that he is a relative of new SARS head Edward Kieswetter, and that the two had a close business relationship. In court papers Manuel states he filed the application to "vindicate" his reputation and that of the SARS selection panel that recommended Kieswetter for the job, and protect the integrity of Treasury and the revenue collection agency.

JSE opens flat as Naspers offsets other losses

Naspers and Sasol are helping to moderate losses for most shares on Tuesday morning, as the market digests a jump in the oil price A strong performance by Naspers and some miners helped keep the JSE flat on Tuesday morning, as a rising oil price and weaker rand put pressure on banks and retailers. Oil has risen after reports suggested the US would end waivers for countries buying from Iran, as the White House intensifies pressure on that country. Local equities were also reacting to a slight softening of the rand over the weekend, after it emerged that embattled power monopoly Eskom had received a R17bn bailout from the government. At 9.50am the all share was little changed, adding 0.07% to 59,263.9 points, while the top 40 was likewise flat. Gold miners had lost 2.89%, banks 1.22%, general retailers 1.1% and platinums 0.89%. Gold had lost 0.13% to $1,273.15/oz and platinum 0.36% to $895.75. Brent crude was 0.16% higher at $74.22 a barrel. The rand had weakened 0.32% to R14.21066/$. There are few local economic releases this week, but on Thursday, producer inflation numbers — as measured by the annual change in the producer price index (PPI) — are due. The University of Stellenbosch's Bureau of Economic Research consumer confidence index for March is due on Wednesday. Consumer confidence may have deteriorated in the first quarter in view of the extensive load-shedding in February and March, as well as fuel price increases and the announcement of a substantial electricity tariff increase for 2019, Investec economist Kamilla Kaplan said.

EMERGING MARKETS-Emerging market stocks dip, Chinese shares seen falling further

* Chinese stocks fall on sustained concerns about further stimulus * Russian rouble up; oil hits 2019 highs * Russian stocks on track for all-time closing peak * Polish retail sales for March come in below forecast By Aaron Saldanha April 23 (Reuters) - Emerging market stocks dipped on Tuesday, and Chinese shares were seen weakening further on concerns of Beijing trimming support to an economy whose recent performance has beaten expectations. Surprisingly steady growth data for the first quarter and comments from the Chinese central bank and policy makers have fuelled expectations of a reduction in monetary stimulus. Brokerage Shanxi Securities said it had seen a clear move towards marginal tightening and it was expecting more "corrections" as the stock market reacted.

Russia tightens grip over grain exports with state-led association

* New association headed by deputy CEO of state grain trader * Russia wants agriculture exports to reach $45 bln by 2024 (Writes through to add details, context) By Polina Devitt MOSCOW, April 23 (Reuters) - Major grain traders in Russia have agreed to create a new exporters' association led by a state-controlled firm, increasing the government's influence over supplies from the world's biggest wheat exporter. Russia's agriculture ministry has been meeting regularly with big exporters since September to monitor exports amid a lower 2018 crop. In February, it asked the industry to set up a new grain exporters' union, saying that would help it to better understand the needs of the market. Eduard Zernin, deputy chief executive of Russia's state grain trader the United Grain Company (UGC), will head up the new association, the founders said in a statement on Tuesday, a copy of which has been reviewed by Reuters. Membership of the new association, called the Russian Union Of Grain Exporters, is important for traders who want to keep attending the agriculture ministry's meetings with exporters, where it updates them on its view of Russian grain supplies. The ministry previously said it would start discussing with traders in April Russia's export plans for the 2019/20 marketing season, which starts on July 1. Russia's grain supplies abroad could play a key role in President Vladimir Putin plan, announced a year ago, to increase the country's exports of agricultural products to $45 billion by 2024. That is a big challenge for the agriculture ministry, which is overseeing the initiative, as agricultural exports totalled $26 billion last year, including $10 billion of grain. However, some traders have expressed concern the new association may lack independence, and could worsen the ministry's understanding of the real situation in the market. "The

GLENCORE PLC - GLN:Transactions In Own Shares-18 April 2019

Wrap Text GLN:Transactions In Own Shares-18 April 2019 Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 23 April 2019 Transactions in own shares-18 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 18 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,250,000 Lowest price paid per share (GBp): 334.3500 Highest price paid per share (GBp): 340.1000 Volume weighted average price paid per share (GBp): 337.8045 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 767,690,582 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,818,509,484. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted Trading venue

Marketing is key to a successful business

Business owners of Randfontein met at Fantasy Farmyard on 17 April for another successful Randfontein Business Information Breakfast (Randbib). The topic for this month's event was marketing. Bertus de Wet, a business coach, and Michael Grobler of Pest Control Specialists shared their success stories during the recent Randbib event.

Manuel vs EFF: I want to vindicate my name, as well as SARS and Treasury

Trevor Manuel says his court battle with the Economic Freedom Fighters is not only to clear his name, but also to protect the integrity of National Treasury and the SA Revenue Service. The former finance minister filed a founding affidavit at the high court in Johannesburg on April 10 against the EFF, the party's leader Julius Malema and its national spokesperson Mbuyiseni Ndlozi in response to a claim by the EFF that he is a relative of new SARS head Edward Kieswetter, and that the two had a close business relationship. In court papers Manuel states he filed the application to "vindicate" his reputation and that of the SARS selection panel that recommended Kieswetter for the job, and protect the integrity of Treasury and the revenue collection agency.

London Metal Exchange to ban brands not responsibly sourced by 2022

By Zandi Shabalala LONDON (Reuters) - The London Metal Exchange (LME) on Tuesday launched an initiative that could see it ban or delist brands that are not responsibly sourced by 2022 as part of efforts to root out metal tainted by child labour and corruption. The 142-year-old LME, seeking to avoid overly punishing small mining brands to the benefit of larger miners such as Glencore, said it would not single out cobalt and tin for accelerated auditing. The proposal is the largest step yet by the LME, the world's biggest market for industrial metals, to clean up the global supply chain of all its commodities. Cobalt is a key ingredient in the batteries that power electric vehicles and one flagged by human-rights groups as particularly high risk. "Global consumers rightly demand action on responsible sourcing - and our industry must listen," LME chief executive Matt Chamberlain said in a statement. The LME said its proposed rules would require all brands to undertake a "Red Flag assessment" based on guidelines set by the Organisation for Economic Co-operation and Development (OECD) by the end of 2020. The exchange would audit higher-risk brands by 2022 with a view to banning them if they do not comply. In a consultation paper in October, the LME said it wanted to ban cobalt brands that traded at a significant discount against prices gathered by trade publication Metal Bulletin after 30 days. The discount was created by concerns that some providers of cobalt to the exchange may have used child labour at operations mainly in the Democratic Republic of Congo, where several organisations have cited human-rights abuses. The proposal marks a shift from the LME's traditional role of requiring brands and companies to meet metallurgical standards to including issues of ethical responsibility. Brands would be forced to publish fully all of their s

King Price to bid up to R2bn for Alexander Forbes short term insurance

PRETORIA Insurer King Price has announced an ambitious bid thought to be up to R2 billion for Alexander Forbes shortterm insurance business saying it believes it would be the best fit for the business in the local market.If successful the bid would double King Prices existing business said chief executive Gideon Galloway. King Price which was founded seven years ago sells about 12 000 policies a month and as at the end of its 2019 financial year in June will see annual premium of R1.8bn.Galloway said the fact that King Price played only in the shortterm insurance market made it the perfect fit for the Alexander Forbes shortterm assets as the insurer would not compete with Alexander Forbes in any other market segment.The Alexander Forbes shortterm business has great people a highly desirable client set and a solid branch infrastructure. Weve got industryleading technology and an awardwinning company culture and customer experience approach that will unlock significant value for all stakeholders said Galloway.King Price entered the highlycompetitive South African insurance market in June 2012 with a worldfirst customercentric insurance model that automatically decreased comprehensive car premiums monthly in line with the cars depreciating values.

PE Business News: Is your legacy PBX putting your business at risk?

Promote your business on BuyPE and MyPR . Is your legacy PBX putting your business at risk? : Whether your company is based in the middle of the hustle and bustle of trendy Johannesburg or a 2-man satellite office at the end of windy Port Elizabeth , we are able to bring you online fast … Source: "Port Elizabeth" business - BingNews . Nelson Mandela Metro takes responsibility after baby drowns : The Nelson Mandela Bay Metro has taken full responsibility for the tragic death of a 21-month-old baby girl who drowned in a rain-filled ditch at the Vastrap informal settlement in Port Elizabeth .

Opportunities everywhere

Emerging markets are the new trendy destination when it comes to investments. No matter the company or the industry that they are investing in, they are finding significant opportunities in emerging market exposure. This was a major talking point at the recently held Glacier International Roadshow.  Look for commonality While there is an increased interest in emerging markets, Ian Beattie - Co-Chief Investment Officer at NS Partners - pointed out that it must be remembered that not all emerging markets are the same and that investors need to be very clear about what defines them and sets them apart from each other.  The best place to start is to look for the commonalities between emerging markets.

Digital pioneer Matthew Buckland dies

Digital news entrepreneur Matthew Buckland has died at age 45. Buckland was formerly the head of the Mail & Guardian's online division from 2000 to 2007 where he founded award-winning collaborative news and opinion platform, Thought Leader while establishing the M&G's digital businesses. Buckland had taken over the M&G's digital division from Irwin Manoim who launched the M&G's digital presence in 1994. It was Buckland however who would go on to convert the M&G Online as one of the continent's leading news websites.

Elections? Is your business insured against riots?

Given the increasing incidences of protest actions ahead of the national elections in May, SMEs should ensure they are adequately insured against riots, strikes or protest actions. The South African Special Risk Insurance Association (Sasria), a short-term insurer that provides special risk cover to consumers and businesses, reported that losses resulting from service delivery protests amounted close to R1 billion between April 2018 and January this year. Malesela Maupa, Head of Insurer Relationships at FNB Insurance Brokers says this provides a compelling reason for SMEs operating in South Africa to ensure that they are covered against civil commotion, public disorder, strikes, riots and various acts of terrorism through Sasria.

Ex-divs to take 7.66 points off FTSE 100 on April 25

LONDON, April 23 (Reuters) - The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-makers would take 7.66 points off the index. RIC Name Dividend Stock Impact (Pence) Alternative ANTOFAGASTA 37 (USc) 0.39 FRESNILLO 16.7 (USc) 0.09 GLENCORE 0.1 (USD) 3.45 INFORMA 14.85 0.73 LEGAL & GENERAL 11.82 2.78 SPIRAX-SARCO 71 0.21 Among FTSE 250 companies going ex-dividend are: RIC Name Dividend (Pence) BANKERS INVESTMENT 5.1 TRUST CITY OF LONDON 4.75 INVESTMENT TRUST ESSENTRA 14.4 GAMES WORKSHOP 35 GREGGS PLC 25 IWG 4.35 PETROFAC 25.3 (USc) QUILTER PLC 3.3 SABRE INSURANCE 12.8 GROUP SANNE GROUP 9.2 TI FLUID 5.94 (euro cents) WEIR GROUP 30.45 WOOD GROUP (JOHN) 23.7 (USc) WILLIAM HILL 7.74 (Reporting by Josephine Mason, Editing by Helen Reid).

From KFC to Liquid for Mike Middleton

Former KFC marketing head Mike Middleton is heading the newly formed Liquid ad agency, WPP's new bespoke agency for Distell Former KFC marketing head Mike Middleton is heading the newly formed Liquid ad agency, WPP's new bespoke agency for Distell and part of the Grey advertising setup. He'll join CEO Paul Jackson and chief creative officer Fran Luckin. Middleton told the ad trade website MarkLives: "I thought it was a great opportunity. It's not more of the same so it's not another CMO role." Part of Liquid's remit will be to introduce and establish brands into new markets with what the client describes as consistency.

What happens when the board fails the business

There isnt a shortage of guidance for governance in South Africa. Local organisations can reference the excellent King IV governance framework and the Companies Act while public sector entities should primarily follow the Public Finance Management Act and the Municipal Systems Act.Governance is also increasingly a priority for company secretaries accountants and auditors though as recent events reveal these alone dont encourage good governance practices.Current operating environments are also making it harder to keep on the straight and narrow explains Denice Manganye Managing Partner at eSEK: CEOs and boards face a fastpaced world. Prospering in todays rapidly moving business environment is more challenging than ever.

Clicks to roll out 41 new stores

Clicks Group is planning a capital investment of R700 million over the next financial year, split across the store and pharmacy network, and group infrastructure to support the increased scale of the business. The group will accelerate its store expansion programme by opening 41 new stores in the financial year, well ahead of the targeted 25 to 30 stores. " data-lazyauto="true"> This is part of its strategy to expand its store network to 900 in the long term.

Performance is everything and the numbers tell the story

This content is sponsored by 10X Investments By Steven Nathan* When 10X Investments was launched, many people within and outside of the asset management industry were sceptical about the model. They said: "It can't be that simple"; "You can't charge fees that low"; "Index funds don't work in South Africa"; "It's not about costs, but performance". After 11 years - which have included some turbulent times, including the 2008 Global Financial Crisis - the numbers tell a different story. Performance is the only thing that matters to investors - and it is best measured as their long-term investment return after all fees charged. Most 10X clients are invested in our High Equity product, as their time horizon is more than five years.

GRAPHIC-Take Five: Spring growth? World markets themes for the week ahead

(Repeats April 18 article, text unchanged) April 18 (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. 1/CENTRAL PLANNING The 100 years since the Fed's creation in 1913 is said to be the century of central banking. Well, since the 2008-2009 crisis, we've certainly lived through a decade of central banking. But with monetary policy taken to the limit to lift growth and inflation, can central banks do any more? Of late, some of the economic and business confidence data is giving rise to hopes rate-setters might just be able to hold fire on further action for now.

Battle rages for control of the lucrative lottery

JOHANNESBURG - National lottery operator Ithuba and Hosken Consolidated Investments (HCI), the owners of Tsogo Sun, are embroiled in a bitter legal battle for control of the lucrative lottery business - with HCI demanding R5million a month from Ithuba in management fees. At the heart of the dispute is the multimillion-rand loan that HCI granted to Ithuba in 2015 when it won the contract to operate the national lottery. In legal papers, HCI wants arbitrators to rule that Ithuba was not entitled to repay a portion of the loan it granted it in 2015 early.

JSE headed for slow start on Tuesday

SA's main bourse could struggle for direction in early trading on Tuesday as global markets await new catalysts. US stocks ended only marginally higher on Monday in a light trading session. Asian stocks were also treading water on Tuesday. Hong Kong's Hang Seng Index, Korea's Kospi index and Japan's Nikkei 225 were flat after the morning session. Naspers-associate Tencent was 0.2% up in Hong Kong, while BHP Group was 0.2% higher in Australia. On Tuesday, Statistics SA is due to report tourist accommodation, land transport and food and beverages numbers for February, as well as liquidations and insolvencies data for March. On the JSE, small-cap insurer Indequity Group is due to report interim financial results. Elsewhere, euro-area government debt and consumer confidence statistics are due, along with new home sales numbers from the US.

Families, business owners count cost of Amcu strike

With Amcu members returning to work for their first salaries in almost five months, family members and businesses that have felt the pinch say that it is going to take a while to recover from the effects of the strike. Click here for the full original article on EWN. --.

A2X gets a boost from Mr Price listing

The A2X exchange, which launched a platform for secondary listings in October 2017, has won over another JSE top-40 company, Mr Price Group. Mr Price said on Tuesday that its shares would be tradable on A2X from May 2. The retailer said it would retain its primary listing on the JSE and its issued share capital would be unaffected by the secondary listing on A2X. Earlier in April, Aspen Pharmacare obtained a secondary listing on A2X, which says it offers a lower-cost trading structure and the potential for companies to broaden their shareholder bases. With Mr Price and Aspen on board, A2X will have 19 listings. Other JSE top-40 companies with secondary listings on the exchange include Growthpoint Properties, Naspers and Standard Bank Group. A2X CEO Kevin Brady said in December that Naspers's secondary listing on the exchange at the time "gets us to critical mass". "To have the most liquid and second most liquid stock I think is a great endorsement for the merits of a secondary listing," Brady said.

Battle rages for control of lucrative Lotto

JOHANNESBURG National lottery operator Ithuba and Hosken Consolidated Investments (HCI) the owners of Tsogo Sun are embroiled in a bitter legal battle for control of the lucrative lottery business with HCI demanding R5 million a month from Ithuba in management fees.At the heart of the dispute is the multimillionrand loan that HCI granted to Ithuba in 2015 when it won the contract to operate the national lottery. In legal papers HCI wants arbitrators to rule that Ithuba was not entitled to repay a portion of the loan it granted it in 2015 early. HCI further wants arbitrators to rule that it is entitled to exercise oversight over Ithuba.

Outsourcing is back in business

- 10:07 5 Reasons why your business should consider outsourcing non-core services Organisations started outsourcing specific business activities in the 1990s mainly as a cost-saving measure. Functions not related to the core business, such as accounting, human resources, data processing, security and maintenance were contracted out to specialised service providers rather than handled by internal staff and resources. According to Statista.com the global market size dipped in 2016 but has picked up significantly since then climbing to 85.6 billion US dollars in 2018.

Brand Summit SA partners with PRISA, City Nation Place Ltd

The Brand Summit South Africa, successfully inaugurated in Cape Town in May 2018, and now partnered with the City of Johannesburg, its Host City until 2021, has the pleasure of announcing additional professional partnerships with the Public Relations Institute of Southern Africa (PRISA) and the London-based City Nation Place Ltd. The 2019 Brand Summit South Africa event will be hosted at The Forum, Bryanston, Gauteng, on 6 and 7 June 2019. The Summit's other professional partner, on a global level, is the World Communication Forum (http://www.wcfaglobal.com/founders-executives-vp-ambassadors), which is based in Davos, Switzerland.

WATCH LIVE: #PICInquiry continues

JOHANNESBURG  The Public Investment Corporation (PIC) Commission of Inquiry into impropriety led by retired Judge Lex Mpati continues today in Pretoria.  The PIC commission said on Twitter that evidence leader Advocate Jannie Lubbe SC indicated that Jabu Moleketi will be the first one to take the stand Mahloele will take the stand after him.  Moleketi is a former finance minister and  he is also a nonexecutive director if both Harith and Lebashe.   WATCH:  The Commission resumes and evidence leader Advocate Jannie Lubbe SC has indicated that Mr Jabu Moleketi will be the first one to take the stand Mr Mahloele will take the stand after him. #PICInquiry PIC COMMISSION (@CommissionPic) April 23 2019 Last week JSElisted AYO Technology Solutions is in a growth phase and is investing in staff and other costs for growth the Commission of Inquiry into alleged improprieties at the Public Investment Corporation heard last Wednesday.  AYOs executive of business transformation Naahied Gamieldien was testifying under subpoena to the commission led by retired Judge Lex Mpati assisted by Gill Marcus and Emmanuel Lediga where she explained the companys profits. BUSINESS REPORT ONLINE  .

The difference between medical aid and health insurance

The difference between medical aid and health insurance Medical schemes provide cover in low frequency, high-cost instances, while medical insurance covers the opposite. Nompu Siziba / 22 April 2019 19:00 No comments so far With medical needs becoming increasingly expensive and public health facilities not always in the best of shape owing to understaffing and heavy demand, consumers are looking for a wider variety of medical cover. Medical aid seems to be a luxury only affordable to the wealthy and those whose companies pay towards it. Medical aid and medical insurance are two different products, offering different benefits at different price points. To speak more on the distinction between the two and what the implications of the NHI will be for both, Butsi Tladi, the head of Alexander Forbes Health speaks to Nompu Siziba..

Manuel vs EFF: I want to vindicate my name, as well as SARS and Treasury

Trevor Manuel says his court battle with the Economic Freedom Fighters is not only to clear his name, but also to protect the integrity of National Treasury and the SA Revenue Service. The former finance minister filed a founding affidavit at the high court in Johannesburg on April 10 against the EFF, the party's leader Julius Malema and its national spokesperson Mbuyiseni Ndlozi in response to a claim by the EFF that he is a relative of new SARS head Edward Kieswetter, and that the two had a close business relationship.  In court papers Manuel states he filed the application to "vindicate" his reputation and that of the SARS selection panel that recommended Kieswetter for the job, and protect the integrity of Treasury and the revenue collection agency.  "I am as concerned about the harm the [EFF] statement does to the Treasury and SARS. The South African public should be disabused of the idea that the Treasury conducted a less than rigourous and honest process and that Mr Kieswetter is not the best person to head up SARS," he said.

GOLD FIELDS LIMITED - Resignation of a Company Secretary

GFI 201904230014A Resignation of a Company Secretary Gold Fields Limited Incorporated in the Republic of South Africa) Registration Number 1968/004880/06) JSE, NYSE, DIFX Share Code: GFI ISIN: ZAE000018123 ‘Gold Fields' or ‘the Company') RESIGNATION OF A COMPANY SECRETARY This SENS announcement is being issued in terms of Section 3.59 of the Listings Requirements of JSE Limited (‘JSE'). The Board hereby informs the shareholders of Gold Fields Limited that the Company Secretary, Ms Lucy Mokoka has tendered her resignation with effect from 18 April 2019 and her last working day is 28 June 2019. Ms Mokoka was appointed as Company Secretary on 14 September 2014. The Board would like to thank Ms Mokoka for her valued contribution and wishes her well in her future endeavors. The process to appoint a new Company Secretary is underway and an announcement in this regard will be made in due course. 23 April 2019 Sponsor JP Morgan Equities Limited Date: 23/04/2019 09:43:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Brand Summit SA partners with PRISA, City Nation Place Ltd

The Brand Summit South Africa, successfully inaugurated in Cape Town in May 2018, and now partnered with the City of Johannesburg, its Host City until 2021, has the pleasure of announcing additional professional partnerships with the Public Relations Institute of Southern Africa (PRISA) and the London-based City Nation Place Ltd. The 2019 Brand Summit South Africa event will be hosted at The Forum, Bryanston, Gauteng, on 6 and 7 June 2019. The Summit's other professional partner, on a global level, is the World Communication Forum (http://www.wcfaglobal.com/founders-executives-vp-ambassadors), which is based in Davos, Switzerland.

Anglo steps up defense to repel Agarwal's interest - Telegraph

23RD APRIL 2019 BY: BLOOMBERG SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ LONDON - Anglo American has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he is now working with adviser JP Morgan Chase & Co to help finance a bid as soon as September, the British newspaper said. ADVERTISEMENT Anglo American's defense advisers, Morgan Stanley, Goldman Sachs Group Inc. and Centerview Partners, are said to plan attacks on the quality of Vedanta's portfolio compared to Anglo's assets, while Agarwal's environmental track record is also likely to come under scrutiny, according to unidentified people cited by the Telegraph. The mining tycoon increased his stake in Anglo American to more than 20 percent in September 2017 through a mandatory convertible bond maturing in 2020. Although Agarwal's intentions are unclear, the approaching deadline is said to have put Anglo's management on high alert, the Telegraph said.

What happens when the board fails the business?

There isn't a shortage of guidance for governance in South Africa. Local organisations can reference the excellent King IV governance framework and the Companies Act, while public sector entities should primarily follow the Public Finance Management Act and the Municipal Systems Act. Governance is also increasingly a priority for company secretaries, accountants and auditors, though, as recent events reveal, these alone don't encourage good governance practices. Current operating environments are also making it harder to keep on the straight and narrow, explains Denice Manganye, Managing Partner at e-SEK: "CEOs and boards face a fast-paced world. Prospering in today's rapidly moving business environment is more challenging than ever.

Zimbabwe: Trade Fair - Zimbabwe Is Indeed Open for Business

[The Herald] Today, all roads lead to Bulawayo for the 29th edition of the Zimbabwe International Trade Fair (ZITF). Running under the theme Propagating Industrial Growth through Trade and Investment , the fair starts today and ends on Saturday..

SA start-up Snapt snags Nasa and billionaires' backing

Dave Blakey When Nasa wanted to phone home from outer space, a company it chose to help make the call was Snapt, a start-up from Johannesburg backed by billionaires Johann Rupert and Nicky Oppenheimer that has now landed in Silicon Valley. Snapt founder Dave Blakey was just 14 when, together with his father, he started a computer company that developed hardware to manage bandwidth. Now his company Snapt does much and more of the same thing — helping manage computer traffic, balance loads among servers and accelerate Web flow — but in software format.

LETTER: Anglo does not fund political parties

The article on political party funding based on a report published by My Vote Counts, refers "" (April 18). We would like to clarify Anglo American's position on this issue. Historically, Anglo American — along with many other companies— was involved in supporting numerous political parties in our efforts to strengthen SA's democratic dispensation. This, however, is no longer the case.

UPDATE 1-Russia's state grain trader to head new exporters' union

(Adds details, quotes, context) MOSCOW, April 23 (Reuters) - An executive at Russia's state grain trader, the United Grain Company (UGC), will head up the country's new grain exporters' union, its founders said on Tuesday, in a sign of tightening control by Russian officials of grain exports. Officials in the world's largest wheat exporter have been closely watching how big exporters are faring given a lower 2018 crop since September. In February, Russia's agriculture ministry announced plans to set up a new grain exporters' union to better understand the needs of the market.

SA business lobby to challenge proposed law to regulate Airbnb

A business lobby group says it is considering legal steps to challenge a new bill meant to regulate short-term home rentals, including those on online platforms such as Airbnb. Last week the government published the Tourism Amendment Bill for public comment. Should it be signed into law, short-term home rentals will be regulated under the Tourism Act.

Kraft Heinz names AB InBev's Miguel Patricio CEO

American food company Kraft Heinz has appointed Anheuser-Busch InBev's global head of marketing, Miguel Patricio, as its new chief executive officer. He is expected to revitalise brands such as Planters nuts and Oscar Mayer bacon. Before AB InBev, Patricio worked at several consumer companies including Philip Morris, Coca-Cola and Johnson & Johnson.

Anglo stalwart appointed as Pensana CEO

PERTH (miningweekly.com) - ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American's operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed diamond explorer Xceldiam, which was bought-out by Petra Diamonds in 2007. George is based in Cape Town.

We're all in the mood for a melody and Sappi got us feelin' alright

Billy Joel said it so eloquently in his song the Piano Man "Son, can you play me a memory, I'm not really sure how it goes, But it's sad and it's sweet and I knew it complete…" We all have that one tune that gets stuck in our head that transports us to places we visited and memories we treasure. With the Sappi Sunshine Piano experience, music enthusiasts are encouraged to find the beautifully decorated piano that is always on the move in town and play it. The Sappi Sunshine Piano has travelled around Nelspruit and so far visited Minute Man Press, Riverside Mall, i'langa Mall and Curro.

Mr Price becomes the first retailer to list on A2X

DURBAN Mr Price Group (Share code: MRP) has been approved for a secondary listing on A2X Markets and its shares will be available for trade on A2X from 2 May 2019. Mr Price retains its listings on the JSE and its issued share capital will be unaffected by its secondary listing on A2X.  There is no cost risk or additional regulatory compliance for Mr Price as a result of its secondary listing.The Chief Executive of Mr Price Mark Blair said "At Mr Price one of our core values is partnership and it is part of our philosophy to share the ownership and success of our company. We have a long history of delivering value to our shareholders and we see this secondary listing as an opportunity to continue that trend. Listing on A2X markets gives more choice to our current investors and opens up opportunity for us to attract potential new investors". "We are pleased to welcome Mr Price to the growing list of companies on A2X.  The first retail company listing is an important milestone for A2X as we continue to attract listed companies from across various sectors.

SA start-up Snapt snags Nasa and billionaires' backing

Dave Blakey When Nasa wanted to phone home from outer space, a company it chose to help make the call was Snapt, a start-up from Johannesburg backed by billionaires Johann Rupert and Nicky Oppenheimer that has now landed in Silicon Valley. Snapt founder Dave Blakey was just 14 when, together with his father, he started a computer company that developed hardware to manage bandwidth. Now his company Snapt does much and more of the same thing — helping manage computer traffic, balance loads among servers and accelerate Web flow — but in software format.

Is your legacy PBX putting your business at risk?

Moving from a legacy PBX to a Cloud PBX Outages and unplanned downtime; high upgrade and maintenance costs; inability to source replacement components; outdated functionality; drain on in-house resources; and compromised security are all factors to consider when changing your current communication system. The secret to a successful cloud migration is as simple as partnering the right provider. A key component of ensuring that a company's migration is indeed successful requires an understanding of the current PBX setup i.e. call flows, ring groups, voicemail to email options and the number of rings before a call is forwarded to another extension, to name a few. Whilst these seem like easy assumptions, they are key to ensuring a successful deployment and positive user experience. User education around the new system is equally important and companies would need to ensure that this is included as part of their migration plan. Most companies are looking to achieve two main objectives when reviewing moving to the cloud, namely cost savings and management of the PBX system.

Spanish venture a solid move for Vukile Property Fund

Investments in the country have brought rewards, and dividend growth of 7.5% for the year to March is expected After clever asset management, which included a foray into Spain, Vukile Property Fund has been touted as a counter that may be worth a second look. The company has evolved since it listed in 2004 with exposure to retail in Randburg's CBD. Led by CEO Laurence Rapp, it now owns property assets worth R32.3bn. Half of its exposure is in Southern Africa, with assets in SA and Namibia. Vukile owns a direct property portfolio made up of 91% retail assets, which is worth R14.8bn, as well as stakes in two listed SA companies, Fairvest and Gemgrow, worth R620m and R780m respectively. These have performed "acceptably" over the past year, Rapp says.

SHOPRITE HOLDINGS LIMITED - Dealings in securities by an associate of an executive director

SHP 201904230017A Dealings in securities by an associate of an executive director Shoprite Holdings Limited (Incorporated in the Republic of South Africa) (Registration number 1936/007721/06) ISIN no: ZAE 000012084 JSE share code: SHP NSX share code: SRH (‘Shoprite Holdings') DEALINGS IN SECURITIES BY AN ASSOCIATE OF AN EXECUTIVE DIRECTOR In compliance with rule 3.63 of the JSE Listings Requirements, the following information is disclosed: Director Pieter Christiaan Engelbrecht Office Held Director Date transaction effected 18 April 2019 Number of shares purchased 11,000 Long eCFD contracts (representing 11,000 Shoprite Holdings Limited ordinary shares) Purchase price High: 18015 cents per share Low: 17592 cents per share Average: 17783.0997 cents per share Value of the transaction R1,956,140.97 Class of shares Long eCFD Contracts Nature of transaction Purchase of Long eCFD Contracts (open market) Interest Indirect beneficial through Transfund Investments (Pty) Ltd of which Mr Engelbrecht is a Director Written clearance to deal received Yes Cape Town Date 23 April 2019 Sponsor Nedbank Corporate and Investment Banking Date: 23/04/2019 10:52:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

Is your business insured against riots?

Given the increasing incidences of protest actions ahead of the national elections in May, SMEs should ensure they are adequately insured against riots, strikes or protest actions. The South African Special Risk Insurance Association (Sasria), a short-term insurer that provides special risk cover to consumers and businesses, reported that losses resulting from service delivery protests amounted close to R1 billion between April 2018 and January this year. Malesela Maupa, Head of Insurer Relationships at FNB Insurance Brokers says this provides a compelling reason for SMEs operating in South Africa to ensure that they are covered against civil commotion, public disorder, strikes, riots and various acts of terrorism through Sasria.

DEVELOPMENT BANK OF SOUTHERN AFRICA - Tap Issue Announcement - DVF25

DVF25 201904230016A Tap Issue Announcement - DVF25 Development Bank of Southern Africa Limited Registration number : 1600157FN (‘DBSA' or the ‘Issuer') Stock Code: DVF25 ISIN Code: ZAG000158197 Tap Issue Announcement: The JSE Limited has granted a listing to DEVELOPMENT BANK OF SOUTHERN AFRICA on Interest Rate Market with effect from 23 April 2019. Authorised Programme size R80,000,000,000.00 Total Notes Outstanding R31,401,000,000.00(including the issuances noted below) INSTRUMENT TYPE: FLOATING RATE NOTE Bond Code DVF25 Nominal Issued R 200,000,000.00 Issue Price 100.49767% Coupon 8.65% (3 Month JIBAR as at 28 March 2019 of 7.150% plus 150 bps) Coupon Rate Indicator Floating Trade Type Price Final Maturity Date 2 April 2024 Books Close Date(s) 23 December, 23 March, 23 June, 23 September Interest Payment Date(s) 2 January, 2 April, 2 July, 2 October Nedbank Group Limited Internal Use Only Last Day to Register By 17:00 on 22 December, 22 March, 22 June, 22 September Issue Date 23 April 2019 Date Convention Following Interest Commencement Date 2 April 2019 First Interest Payment Date 2 July 2019 ISIN No. ZAG000158197 Additional Information Senior Unsecured Floating Rate Notes Additional terms and N/A conditions The note will be dematerialised in the Central Securities Depository (‘CSD') and settlement will take place electronically in terms of JSE Rules. For further information on the Note issue please contact: Nswana Mwangu Nedbank +27 11 2947997 Corporate Actions JSE +27 11 5207000 23 April 2019 Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Nedbank Group Limited Internal Use Only Date: 23/04/2019 10:45:00 Produced by the JSE SENS Department.

EMERGING MARKETS-Emerging market stocks dip, Chinese shares seen falling further

* Chinese stocks fall on sustained concerns about further stimulus * Russian rouble up; oil hits 2019 highs * Russian stocks on track for all-time closing peak * Polish retail sales for March come in below forecast By Aaron Saldanha April 23 (Reuters) - Emerging market stocks dipped on Tuesday, and Chinese shares were seen weakening further on concerns of Beijing trimming support to an economy whose recent performance has beaten expectations. Surprisingly steady growth data for the first quarter and comments from the Chinese central bank and policy makers have fuelled expectations of a reduction in monetary stimulus. Brokerage Shanxi Securities said it had seen a clear move towards marginal tightening and it was expecting more "corrections" as the stock market reacted.

Emerging market stocks dip, Chinese shares seen falling further

* Chinese stocks fall on sustained concerns about further stimulus * Russian rouble up; oil hits 2019 highs * Russian stocks on track for all-time closing peak * Polish retail sales for March come in below forecast By Aaron Saldanha April 23 (Reuters) - Emerging market stocks dipped on Tuesday, and Chinese shares were seen weakening further on concerns of Beijing trimming support to an economy whose recent performance has beaten expectations. Surprisingly steady growth data for the first quarter and comments from the Chinese central bank and policy makers have fuelled expectations of a reduction in monetary stimulus. Brokerage Shanxi Securities said it had seen a clear move towards marginal tightening and it was expecting more "corrections" as the stock market reacted. MSCI's index of developing world stocks drifted marginally lower, while China's Shanghai SE Composite Index slid half a percent and the mainland's blue-chip equities fell 0.2 percent. The Shanghai SE Composite has already tumbled 1.7 percent on Monday and is on course for its worst weekly performance since December 2018. A firm U.S. dollar kept gains among developing world currencies in check although a rise in oil prices to a 2019 high aided the currencies of net energy exporters such as Russia, whose rouble firmed 0.2 percent, while keeping pressure on those of net importers such as India, whose rupee weakened. Russian stocks lifted 0.4 percent, gaining for a third straight session. Energy stocks and financials propped up the benchmark and set it on track for an all-time closing high. Turkey's lira weakened marginally in local holiday-thinned trade. South Africa's rand was 0.3 percent softer while local stocks edged up 0.1 percent on gains among chemicals and energy firm Sasol Ltd and woodfiber firm Sappi Ltd. Emerging European cu

Medical aid plan downgrades increase as tough economy bites

Tracy Janssens, Branch Head at Alexander Forbes Health In an average year, only 2% to 3% of Alexander Forbes Health medical aid members change plans, either upgrading or downgrading. In 2018, Alexander Forbes Health saw 5.2% of their clients making changes to their plans - almost equally up and down. But in 2019, there was a 6.7% average, reflecting a 3.8% downgrade and 2.9% upgrade.

Mbalula talks about Juju, says they're 'tight like nobody's business'

A video was shared on social media which showed Fikile Mbalula praising Julius Malema for his straight forwardness. The former SAPS minister went on to talk about their friendship while both were in the ANC Youth League. PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! Julius Malema is a lot of things, but he is not a fake - at least that's what Fikile Mbalula was heard saying in a video on Monday.

Business Uganda gets $150 million grant from World Bank to support refugees

Uganda, being the largest refugee-hosting country in Africa, with about 1.5 million refugees, the World Bank has approved $150 million to support its refugee programmes. The grant will support refugees and the host communities through development projects that will provide basic social services such as education and health care services. The project also seeks to strengthen transparency and accountability while addressing social risk management and gender-based violence.

SABC fires Chris Maroleng as COO

The state-owned South African Broadcasting Corporation (SABC) has fired its chief operations officer Chris "Don't Touch Me on My Studio" Maroleng. Maroleng's contract was terminated with immediate effect after he was appointed to the position in January 2018. In a curt media statement released on Tuesday evening, the public broadcaster said it axed Maroleng, who had stepped into the position following the dismissal of the controversial Hlaudi Motsoeneng, following a board meeting on the day.

Freshworks integrates with the WhatsApp Business solution to empower brands to offer scalable online support to 1.5 billion

Content provided by APO Group. CNBC Africa provides content from APO Group as a service to its readers, but does not edit the articles it publishes. CNBC Africa is not responsible for the content provided by APO Group.Freshworks (www.Freshworks.com), a global leader in customer engagement software, has integrated its customer engagement suite with the WhatsApp Business solution to offer on-the-go conversational support via WhatsApp.

Gauteng: Pedestrian crushed to death by mini-bus taxi

Gauteng: At 20H11 Netcare 911 responded to reports of a collision on the corners of 24th Avenue and Nico Smith Avenue in Villeria, Pretoria. Reports from the scene indicate that and adult male pedestrian was struck down by a mini-bus taxi while crossing the road. The pedestrian was dragged under the taxi for some distance. Paramedics assessed the adult male and found that he had sustained fatal injuries and was declared deceased on the scene. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

Trapsuutjie verander van kleur oor hul Sakeleier van die Jaar

Wat is dit in Dr Iqbal Survé wat Independent Media se kompetisie so verskriklik ontstelAs redaktrise van Business Report (BR) het ek baie artikels geskryf en elke keer as ek Doc se naam noem word ek aangeval. Dan is ek sy Embongi (praise singer) of sy Queen Bee of wat ookal. Sommige gaan so ver en beweer Doc skryf my artikels en al wat ek doen is om te wag op sy instruksies.Vandag skryf ek weer * storie oor Survé.

Mr Price to list on A2X on May 2

Retail group Mr Price said on Tuesday its ordinary shares would be traded on the A2X exchange from May 2, although it would retain its primary listing on the Johannesburg Stock Exchange. "Mr Price Group's ordinary shares will be available to be traded on both the JSE and A2X from the A2X listing date," it said in a statement. A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the Financial Sector Conduct Authority in terms of the Financial Markets Act.

KwaZulu-Natal: 14-year-old girl dies in five- car pile-up on N3

KwaZulu-Natal: At 20H07 Monday night Netcare 911 responded to reports of a collision on the N3 South bound Inchanga area. Reports from the scene indicate that five vehicle were involved in a collision. Paramedics assessed the scene and found that a 14-year-old female passenger sustained fatal injuries and was declared deceased on the scene. Another nine patients sustained injuries ranging from minor to moderate. All the patients were treated on scene and once stabilised were transported by various ambulance services to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

Teck Resources beats profit estimates on energy business

Canadian miner Teck Resources, the world's second-biggest exporter of steelmaking coal, reported a better-than-expected quarterly profit on Monday, boosted by its energy business and a slight increase in commodity prices. The miner said even though commodity prices were lower than a year ago, prices rose during the first quarter and closed higher than prices at December 31, 2018. The profit beat comes as Teck Resources undertakes de-bottlenecking initiatives at Fort Hills oil sands mining, where its energy business unit operates, to increase production capacity.

HCI makes a grab for the lotto

Control of the National Lottery is at stake as JSE-listed hospitality and gambling giant Hosken Consolidated Investments (HCI) battles it out with Ithuba, the operator running the country's biggest gambling licence since 2015. HCI is fighting to exercise so-called oversight and "step-in" rights in terms of funding it gave Ithuba at the time, despite this funding having been fully repaid. Step-in rights are a far-reaching remedy meant to protect HCI's interests after it funded Ithuba, and involves it taking over the role of Ithuba's managing agent for the Lotto from the incumbent, Zamani Marketing and Management Consultants.

The world is changing, are you ready?

The world is changing, and the asset management industry is facing significant challenges. There are major themes and trends that will shape future success in asset management and companies need to be brave to cope with these changes.  These are the thoughts of Alexander Forbes as the company looks towards what it says will be a challenging year. The company points out that there are some key challenges that will ensure that the industry will change.  Shifting preferences One of the major challenges that asset managers will need to come to terms with is shifting investor preferences.

UPDATE 1-London Metal Exchange to ban brands not responsibly sourced by 2022

(Adds detail, context, quotes) By Zandi Shabalala LONDON, April 23 (Reuters) - The London Metal Exchange (LME) on Tuesday launched an initiative that could see it ban or delist brands that are not responsibly sourced by 2022 as part of efforts to root out metal tainted by child labour and corruption. The 142-year-old LME, seeking to avoid overly punishing small mining brands to the benefit of larger miners such as Glencore, said it would not single out cobalt and tin for accelerated auditing. The proposal is the largest step yet by the LME, the world's biggest market for industrial metals, to clean up the global supply chain of all its commodities.

The growing crime around ATMs/ cash withdrawals

Increased ATM usage has resulted in criminals devising various scams such as card skimming, card swapping, ATM shoulder surfing and trapping cards inside ATMs to steal the card or data. According to a police report, the following scenario has been identified: A person claiming to be working for a bank approached a client. The client was requested to reactivate the card by swiping the card through a device which is a skimming device.

How ‘balanced' a business manager are you?

Few jobs test your skills like business management, and few businesses can be tougher than farming! Nature is a harsh taskmaster, and any farm manager aspiring to make a success of farming needs a wide range of balanced skills, not to mention some rare character traits. South African farmers' production skills are generally extremely high. The success they achieve in one of the world's most water-stressed countries says it all.

Better deal for Shoprite shareholders

DURBAN - JSE-listed retailer Shoprite Holdings' bid to align the company with international best corporate governance practice is gaining momentum after it entered into a tripartite agreement with Thibault Square Financial Services and Titan Premier Investments, which will dilute Shoprite chairperson Christo Wiese's voting rights. Thibault and Titan belong to Wiese. The completion of the deal will result in Wiese having 17.8 percent voting rights of Shoprite, down from 42.3 percent, while his direct shareholding in Shoprite will increase to 17.8 percent, up from 14.8 percent.

MMI Holdings celebrates its team members at the Lesedi Awards

Clinton van Boomen, from the Eastern Cape, scooped an individual award at the 2018 MMI Lesedi Awards for his work with the Victory Kids Early Intervention Centre. He became involved with the non-profit organisation geared toward children with special social and educational needs when his young daughter was diagnosed as non-verbal. "The reality is that the waiting list is growing faster than the rate at which schools are built, or repurposed, to accommodate special needs learners.

MiPlan takes top spot in asset manager rankings

Cape Townbased boutique investment firm MiPlan Asset Management is in top place in the PlexCrown ranking of local asset managers that offer unit trust funds (as at March 31 this year) having pushed Raging Bull champions Allan Gray down to second place.In other surprise moves PSG Asset Management which has consistently been in the top three companies for a number of years has dropped to fifth place while Coronation Fund Managers have shot up through the rankings to occupy third place. Investec Asset Management is placed fourth.These results come in the wake of the firstquarter upswing in local financial markets after the shock downturn at the end of last year.The PlexCrown Fund Ratings rate actively managed retail unit trust funds on riskadjusted performance over five years. Management companies are ranked according to the PlexCrown ratings of their qualifying funds (funds score from one to five PlexCrowns with three PlexCrowns representing average performance).

PE Business News: Is your legacy PBX putting your business at risk?

PE : Is your legacy PBX putting your business at risk? : Promote your business on BuyPE and MyPR. Is your legacy PBX putting your business at risk?: Whether your company is based in the middle of the hustle and bustle of trendy Johannesburg or a 2-man satellite office at the end of windy Port Elizabeth, we are able to bring you online fast … Source: "Port […] - MyPE News Elections? Is your business insured against riots? : Given the increasing incidences of protest actions ahead of the national elections in May, SMEs should ensure they are adequately insured against riots, strikes or protest actions. The South African Special Risk Insurance Association (Sasria), a short-term insurer that provides special risk cover to consumers and businesses, reported that losses resulting from service delivery protests […] - MyPE News Submit and get free press releases here: MyPR Free Press Release .

Orion boss Smart acknowledges Prieska success could make firm a takeover target

- Facebook Twitter Google+ Pinterest WhatsApp ORION Minerals CEO, Errol Smart, acknowledged the company could become a takeover target if it made a success of its Prieska zinc-copper project. "At some point they will come out with their knives, which is the life of a junior miner, especially if we develop something that is very successful," he said when asked at a media roundtable last week whether Independence Group was a supportive shareholder. Sydney-listed Independence Group increased its stake in Orion to just over 11% from 4% a year ago after subscribing for A$5m worth of shares in the company.

Clicks to roll out 41 new stores

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Hispanic agency LatinWorks changes name to up general market appeal

LatinWorks, one of the nation's largest Hispanic ad agencies, is changing its name to Third Ear in a move to lure more English-language business. The rebranding, which follows a similar move by The Community a few years ago, signals a newly competitive landscape as general market shops and Hispanic agencies battle for the same accounts. Austin, Texas-based LatinWorks, which is 49 percent-owned by Omnicom Group, has gained more general market work in recent years.

Chris Maroleng axed as SABC COO

Chris Maroleng with President Cyril Ramaphosa in this file photo Chris Maroleng, the former MTN Group senior executive, has been fired as chief operating officer of the public broadcaster with immediate effect. He had been in the role for just over a year. In a statement on Tuesday, the SABC said that "after due consideration of the findings and recommendations of a disciplinary process, the board resolved to terminate the contract of employments of … Maroleng with immediate effect".

Manuel vs EFF: I want to vindicate my name

Former finance minister says statement casts aspersions on 'my character and integrity as well as that of Mr Kieswetter and members of the panel' Manuel vs EFF: I want to vindicate my name, as well as SARS and Treasury 23 April 2019 Trevor Manuel says his court battle with the Economic Freedom Fighters is not only to clear his name, but also to protect the integrity of National Treasury and the SA Revenue Service. The former finance minister filed a founding affidavit at the high court in Johannesburg on April 10 against the EFF, the party's leader Julius Malema and its national spokesperson Mbuyiseni Ndlozi in response to a claim by the EFF that he is a relative of new SARS head Edward Kieswetter, and that the two had a close business relationship. In court papers Manuel states he filed the application to "vindicate" his reputation and that of the SARS selection panel that recommended Kieswetter for the job, and protect the integrity of Treasury and the revenue collection agency.

Hulu's d-to-c ad business is up 85 percent

Everybody wants a piece of the direct-to-consumer advertising pie—but some streaming TV players might be better positioned to get it, according to Peter Naylor, senior VP and head of advertising sales at Hulu. The Los Angeles-based subscription service has seen the d-to-c segment of its business increase 85 percent year-over-year, Naylor said Tuesday, speaking at Ad Age's OTT-focused Next conference. "These direct-to-consumer, digitally-native brands are extraordinarily sophisticated," said Naylor.

Mr Price becomes first retailer to list on A2X

How does a secondary listing in the same country benefit companies? Mr Price Group is set to do a secondary listing on the alternative exchange, A2X from the 2nd May this year. The company's shares have fallen by 0.6% on Tuesday evening, in reaction to the news. However, the A2X is in high spirits as it welcomes yet another JSE Top 40 company, besides Naspers, Standard Bank and Aspen Pharmacare.

LISTEN: Kumba Iron Ore gives small businesses R2bn boost

Kumba Iron Ore has ramped up its efforts to grow small businesses in the communities around its mining operations. This comes in the form of a procurement target of R2 billion for the 2019 financial year - a 400% increase from two years ago.  The company seeks to grow the number of black-, women-, and youth-owned businesses. Kumba Iron Ore supply chain general manager, Vusi Maseko says the R2 billion cash injection "is to give small businesses in the six municipalities that house our operations in the Northern Cape an opportunity to do business with us.

World: Partnership Welcomes Launch of First Malaria Vaccine Pilot

Source: The Global Fund Country: World FUNDING AGENCIES HAIL IMPORTANT STEP FOR THE WORLD'S FIRST MALARIA VACCINE GENEVA, 23 April 2019 - Malaria vaccine pilots will be a crucial test for a potentially valuable new tool in the fight against the disease, the three agencies funding the vaccine pilots said following the launch of the first in Malawi. The pilots, which will also launch soon in Kenya and Ghana, will aim to vaccinate around 360,000 children per year in the three countries to evaluate the feasibility of delivering the required four doses of RTS,S in real-life settings, the vaccine's potential role in reducing childhood deaths and its safety in the context of routine use. Gavi, the Vaccine Alliance, the Global Fund to Fight AIDS, Tuberculosis and Malaria and Unitaid are together providing just under US$ 50 million to fund the first phase of the pilots.

Gauteng: One dead, two injured in N3 rollover

Gauteng: At 09H37 Monday morning Netcare 911 responded to reports of a collision on the N3 direction Johannesburg near to the R42 offramp in Heidelberg. Reports from the scene indicate that the driver of a light motor vehicle lost control resulting in a rollover. The driver, an male in his sixties sustained fatal injuries and was declared deceased on the scene.

King Price to bid up to R2 billion for Alexander Forbes short term insurance

Insurer King Price has announced an ambitious bid, thought to be up to R2 billion, for Alexander Forbes' short term insurance business, saying it believes it would be the ‘best fit' for the business in the local market. If successful, the bid would double King Price's existing business, said chief executive Gideon Galloway. King Price, which was founded seven years ago, currently sells around 12,000 policies a month and, as at the end of its 2019 financial year in June, will see annual premium of R1.8 billion.

SARS Should Be Commended for 2019 Collections in View of Historical Handicaps

SARS collected R1.28 trillion for the tax year ending 2019, falling R14.6 billion short of its target of R1.3 trillion. However, Ettiene Retief, Chairman of the National Tax and SARS Committee at the South African Institute of Professional Accountants (SAIPA), believes the tax authority should be commended. "SARS' operations have been hampered by significant handicaps due to past mismanagement, including a massive VAT refund obligation, deep systemic breakdown and flagging employee morale," says Retief.

Business Maverick: Is volatility here to stay?

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Rockwell Automation executes AC Drive migration at Mozal Aluminium

For over 20 years, Rockwell Automation 1336 Drives have delivered the drive control required across Mozal, an aluminium smelter near Maputo, Mozambique. Now the industrial automation leader is in the final phase of upgrading this plant-wide drive layer with its Allen-Bradley PowerFlex 755 AC Drives, bringing the feature-rich functionality of its flagship drive technology into Mozal's production architecture. In addition to lowering risk of system downtime in the future and improving the plant's long-term reliability, far greater process intelligence leading to massive gains in diagnostic capabilities; greater energy efficiency; and enhanced hardware and software support are among the benefits gained with this technology upgrade. With the PowerFlex 755's intuitive HMI providing on-demand error reporting and diagnostic information, plant maintenance teams will have greater intelligence allowing them to fault-find faster and more efficiently and therefore reduce maintenance downtime. "The PowerFlex 755 delivers a high level of actionable intelligence at the fingertips of maintenance teams, allowing them to diagnose and correct process issues without having to search and consult technical literature to understand the meaning of errors, where they occur, and how they should be addressed," explains Teboho Matlolane, Project Engineer, Rockwell Automation Sub-Saharan Africa. Other integrated functions, such as the drive's TorqProve feature, enhances site safety on the many different crane and hoist applications across the smelter. Used to optimise control of load handling and lifting, this feature includes a continuous brake slip monitor that detects load slippages and will automatically hold and/or safely lower the load.

Go well Matthew Buckland

Former Mail & Guardian online division head and founder of the collaborative news and opinion platform Thought Leader has passed away. He was 45. According to the M&G, Buckland studied journalism at Rhodes University and completed a Harvard Business School executive education course for future leaders with a focus on online business and social networking. Following his time at the M&G, Buckland went on to establish a division at Naspers' online publisher News24.com.

Zimbabwe's Econet plots Botswana Mascom listing by October

GABORONE, April 23 (Reuters) - Zimbabwean billionaire Strive Masiyiwa plans to list part of his Botswana telecoms operator Mascom by October this year, he said on Tuesday, in what he expects to be one of the biggest flotations on the Gaborone bourse. Masiyiwa, through his holding company Econet, is finalising a $300 million deal with South African rival MTN Group to raise his stake in Mascom from 7 percent to 60 percent. "This is what I have always wanted to do ...I have never held enough shareholding to push it through," he told reporters.

Congo Republic ships first iron ore from upgraded port

EXXARO:   16,785     -65 (-0.39%)   23/04/2019 00:00 BRAZZAVILLE, April 19 (Reuters) - Congo Republic shipped its first iron ore exports on Friday from a rehabilitated deep-water port that will be used by Congolese billionaire Paul Obambi's Sapro SA and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko project in the southwest and plans to reach output of 12 million tonnes per year by 2022. Glencore's joint venture with British Virgin Islands-incorporated Zanaga Iron Ore Co plans to ship 2 million tonnes of iron ore per year through Sapro's port and rail link over the next two years, and 30 million tonnes by 2024. Sapro, the Congolese government and British shipping company Ashley Global are spending a combined $550 million on rehabilitation to Pointe Noire's deep-water port, the Mayoko mine and an old railway track connecting the two. At a ceremony on Friday in Pointe Noire attended by the mines minister, a ship loaded with 23,000 tonnes of ore set sail for China, where it will be processed for a European buyer. "We are heading towards more than a century of production," said Obambi. Iron ore prices are near their highest in two years, spurred by growing demand from China and the collapse in January of a dam operated by Brazil's Vale, which has cut into global output. Congo's economy has been hit hard in recent years by low crude prices, which led its debt to balloon. It is currently negotiating with the International Monetary Fund to try to secure a bailout. (Reporting by Christian Elion and Roch Bouka Writing by Sofia Christensen Editing by Aaron Ross and David Evans) 2019-04-19 19.

Smoke, spies, and lies: Big Tobacco gatecrashes public health lobby meeting

South Africa's top public health experts sat down to discuss the safety of e-cigarettes. The verdict? Stay away. The woman picks up her black leather briefcase, and with her head high, marches out of the conference room of the postgraduate club house at the University of the Witwatersrand in Johannesburg.

‘More concerning than prescribed assets'

Sim Tshabalala on nationalisation, monetary policy and pension assets. Standard Bank Group chief executive Sim Tshabalala says that while so-called ‘prescribed assets' are not a good idea, the "proposal to nationalise the South African Reserve Bank (Sarb) is more concerning". Writing in the bank's integrated report released last week, Tshabalala makes the point that has been made by the Reserve Bank itself - that its private shareholders "have no influence over monetary policy nor over any aspect of the Sarb's operations". Therefore, argues Tshabalala, "nationalising the Sarb by buying out the private shareholders would cost a lot of money and serve no useful purpose". While talk of nationalisation is certainly worrying markets, Tshabalala says "proposals to change the monetary policy mandate of the Sarb" are worse. "Certainly - as is clearly recognised in the Constitution of South Africa - monetary policy can support growth," he says.

Proteas back Amla for World Cup

The uncertainty over the veteran's inclusion is over after the national selectors backed his pedigree for the tournament. Hashim Amla in action during the 5th Momentum One Day International between South Africa and Pakistan at PPC Newlands on 30 January 2019 in Cape Town, South Africa. Photo: The Citizen CRICKET NEWS - The national selectors on Thursday decided to back pedigree and experience by including veteran Hashim Amla in the Proteas' World Cup squad for the showpiece tournament in England.

Zimbabwe's Econet plots Botswana Mascom listing by October

Zimbabwean billionaire, Strive Masiyiwa is finalising a $300m deal with MTN to raise his stake in Mascom from 7% to 60%. Zimbabwean billionaire Strive Masiyiwa plans to list part of his Botswana telecoms operator Mascom by October this year, he said on Tuesday, in what he expects to be one of the biggest flotations on the Gaborone bourse. Masiyiwa, through his holding company Econet, is finalising a $300 million deal with South African rival MTN Group to raise his stake in Mascom from 7% to 60%. "This is what I have always wanted to do …I have never held enough shareholding to push it through," he told reporters. He said more details would be provided in due course but said anyone who can raise $10 should be able to buy shares in Mascom, which Econet valued at more than $600 million when it agreed to buy out MTN's 53% holding. Masiyiwa founded Mascom 21 years ago, a few months before he set up Econet in Zimbabwe.

New speakers added to Inaugural Exponential Finance Summit programme

Tanya Knowles, Speaker at SingularityU South Africa Phathizwe Malinga, Speaker at SingularityU South Africa Geci Karuri Sebina, Speaker at SingularityU South Africa Benjamin Rosman, Speaker at SingularityU South Africa Manu Sharma, Speaker at SingularityU South Africa Catherine wood, speaker at SingularityU South Africa SingularityU South Africa brings together over 20 global thought leaders  in technology, finance, and investment SingularityU South Africa today announced that more speakers have been added to the programme for the inaugural Exponential Finance Summit, which will take place at the Cape Town International Convention Centre on 29 and 30 May 2019. The new speakers include Shane Glynn, Hylton Kallner, Phathizwe Malinga, Benjamin Rosman and Magda Wierzycka. Shane Glynn is the co-founder and General Counsel of MobileCoin, a company that provides private, mobile and digital cash payment systems.

Zimbabwe's Econet plots Botswana Mascom listing by October

MTN:   10,580     +50 (+0.47%)   23/04/2019 00:00 GABORONE, April 23 (Reuters) - Zimbabwean billionaire Strive Masiyiwa plans to list part of his Botswana telecoms operator Mascom by October this year, he said on Tuesday, in what he expects to be one of the biggest flotations on the Gaborone bourse. Masiyiwa, through his holding company Econet, is finalising a $300 million deal with South African rival MTN Group to raise his stake in Mascom from 7 percent to 60 percent. "This is what I have always wanted to do ...I have never held enough shareholding to push it through," he told reporters. He said more details would be provided in due course but said he anyone who can raise $10 should be able to buy shares in Mascom, which Econet valued at more than $600 million when it agreed to buy out MTN's 53 percent holding. Masiyiwa founded Mascom 21 years ago, a few months before he set up Econet in Zimbabwe. It is Botswana's biggest mobile operator with 1.7 million customers. The remaining 40 percent of Mascom is owned by the Botswana Public Officers' Pension Fund. (Reporting by Brian Benza, editing by Louise Heavens) 2019-04-23 15.

Protests dragline incident hit SA Energy Coal production

DURBAN South32s production at South Africa Energy Coal (SAEC) fell by 9 percent to 18.3 million tons (Mt) in the nine months to the end of March as a result of community protests and a slower thanexpected rampup of activity at Klipspruit after a dragline outage.However the group said last week that production improved in the last quarter of the period as domestic sales volumes benefited from a contract to sell lowerquality stockpiled product.But the incident at Klipspruit resulted in lowerthanplanned volumes in the quarter to endMarch. The dragline incident at Klipspruit has been confirmed as an insurable event and the volume and cost impact will be subject to an insurance claim the group said. As a result South32 now expected 2019 export production of 10.7Mt compared with the previous guidance of 11.5Mt and a larger decline in lowermargin domestic production to 15.5Mt compared with the previous guidance of 17.5Mt.Chief executive Graham Kerr said the company was planning to divest from SAEC and the asset would be sold once a suitable bidder was found.

Listed property's slow recovery still outpaced by equity investments

The sector has gained in line with inflation but equity investments have outpaced it The SA listed property sector has recovered very slowly so far in 2019 and is being outdone by equity investments. According to research by Anchor Stockbrokers, the FTSE/JSE SA Listed Property Index (Sapy) had returned 4.7% in total, including capital and dividend growth up to last week Thursday. The All Property Index, which includes all real estate companies on the JSE, returned 3.5%. This was while the JSE Top 40 returned 13.3%. But general equity analyst Keith McLachlan said on Thursday that, excluding some of the JSE's largest counters — Naspers, Richemont, Anglo American and BHP Billiton — the Top 40 Index was up only 2.5% year to date. Keillen Ndlovu, head of listed property funds at Stanlib, said Sapy had been held back by a weak economy and weak investor sentiment.

Business Maverick: Musk Makes Self-Driving Technology Tesla's Costly New Calling

Tesla's chief executive officer Elon Musk said that by the middle of next year, 1 million Teslas will be on the road that are fully capable of driving themselves. During an hours-long investor day presentation focused on autonomy, Musk said customers will be able to put their cars onto a shared network of robotaxis, which will be able to get around without a human inside. Even for Musk, 47, who's never shied away from outlandish predictions, the timeline is hugely ambitious.

Business Maverick: Tuesday, April 23: Five Things You Need to Know to Start Your Day

Iran Scrambles to Contain Sanctions FalloutIran said it's holding "intensive" talks with partners in the region and beyond to contain fallout from the Trump administration decision not to renew waivers that let countries buy its oil without facing sanctions. Crude prices in London hit their highest in half a year after Trump surprised investors by announcing the end of the program. Samsung Delays Launch of Galaxy FoldSamsung Electronics Co. will delay the launch of its first foldable smartphone after reports of screen failures among some review units, a setback for the world's biggest handset maker. The company said Monday that it would postpone the retail launch of the Galaxy Fold, without giving a new debut date.

Performance is everything and the numbers tell the story

When 10X Investments was launched, many people within and outside of the asset management industry were sceptical about the model. They said: "It can't be that simple"; "You can't charge fees that low"; "Index funds don't work in South Africa"; "It's not about costs, but performance". After 11 years - which have included some turbulent times, including the 2008 Global Financial Crisis - the numbers tell a different story.

Amcu members to return to work at Sibanye gold mines after strike

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Business Maverick: S. Africa Reserve Bank Says Too Early to Claim Inflation Win

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Kraft Heinz's new CEO looks beyond cost-cutting, big M&A

By Richa Naidu CHICAGO, April 22 (Reuters) - Kraft Heinz Co's incoming chief executive, Miguel Patricio, is indicating a change in strategy for the packaged food company that could move it away from the aggressive cost-focused culture that has been in place since the company was created in 2015. Patricio, a 52-year-old Portuguese native who will take over the helm of the world's fifth biggest food company from July 1, said he plans to focus more on efficiency, investing in brands and growing sales organically at a company that has been reeling from a $15.4 billion writedown on some of its brands. Kraft Heinz's focus on cost-cutting and interest in scoring a big acquisition have been key to the company's strategy under management installed by Brazilian private equity firm 3G Capital. 3G, along with Warren Buffett's Berkshire Hathaway, forged the $49 billion merger of Kraft Foods with H.J. Heinz in 2015. "I think the obsession for efficiency has to be much bigger than the obsession for cutting costs," Patricio, 52, told Reuters on Monday. "Cost cutting should be a priority for any company.

Business Maverick: Saudis Pledge to Ensure Oil Supply if Iran Exports Collapse

The Saudis are closely monitoring oil-market developments after the U.S. announcement regarding export sanctions on Iran, Al-Falih said in a statement. "In the next few weeks, the Kingdom will be consulting closely with other producing countries and key oil consuming nations to ensure a well-balanced and stable oil market, for the benefits of producers and consumers as well as the stability of the world economy." Saudi Arabia and the United Arab Emirates will ensure an "appropriate supply" of oil along with the U.S., as President Donald Trump won't re-issue Iran oil waivers set to expire in May, Secretary of State Mike Pompeo told reporters earlier on Monday in Washington.

Business Maverick: Kraft Heinz's Problems Run Deeper Than Its CEO

Kraft Heinz announced on Monday that Bernardo Hees, 49, will step down on July 1 after a string of troubling developments in recent months. Last quarter, it took a $15.4 billion write-down, slashed its dividend and disclosed a subpoena from the U.S. Securities and Exchange Commission associated with an investigation into certain accounting policies.

'Build': An artistic collaboration by UCT Graduate School of Business with Faatimah Mohammed-Luke

Building futures through transformative learning " data-lazyauto="true"> The UCT Graduate School of Business (UCT GSB) has partnered with Cape Town based designer and tessellation artist Faatimah Mohamed-Luke to create an interactive building block creative campaign, entitled ‘Build' . "The campaign is aimed at raising awareness of UCT GSB's offering among corporate decision makers to demonstrate our approach to business education," says Darren Ravens, Marketing Manager at UCT GSB. "The interactive ‘Build' pack was created to launch our 2019 brand campaign and communicate that the UCT GSB gives you the building blocks for your future through transformative learning." " data-lazyauto="true"> "The ‘Build' pack is part of a holistic brand campaign which we will expand upon during the year with various touch points." he says.

19 firms (incl Naspers, Standard Bank, Sanlam) now listed on JSE competitor A2X

became the latest large South African company to start trading its shares on the A2X exchange. Its primary listing will remain on the Johannesburg Stock Exchange. Earlier this month Aspen Pharmacare listed on the A2X exchange. The pharmaceutical group has a market cap of R42.4 billion. There are now 19 companies listed on A2X including the likes of Naspers, the Standard Bank Group and Sanlam. Ray White (in for Bruce Whitfield on The Money Show) interviewed Gary Clarke, Head of Legal and Regulation at A2X Markets. Listen to the interview in the audio below (and scroll down for quotes from it). This [Mr Price] is our 6th Top-40 company… We got Naspers more quickly than we thought… Our market cap is about R2.4 trillion… Get the 10 most-read articles of the week from Bruce Whitfield's The Money Show, emailed to you every Friday morning.

Devastating year for households' net wealth

: Google Images"> Households : Google Images South African households experienced a devastating year in 2018. Collectively they lost about R450 billion or half-a-trillion rand of their real net wealth (the actual purchasing power of net wealth). This equates to an average loss of about R32 000 per household, which means that the net wealth per household was at the same level as in 2008.

APO AFRICA A business delegation from Germany in Addis Ababa

Download logo Markus Soder, Minister-President of the German Free State of Bavaria led a delegation to Ethiopia this week. The delegation, which arrived on Sunday (April 14), was made up of representatives from sixty companies, and the focus of its visit was economic cooperation as well as issues of climate change and migration. It met with President Sahle-Work Zewde, government officials and representatives of the Ethiopian Chamber of Commerce and Sectoral Associations. At a meeting with President Sahle-Work Zewde, the Minister-President emphasized that Bavaria was very keen to strengthen its relations with Ethiopia and open up new business avenues.

MTN GROUP LIMITED - Distribution of notice of AGM

MTN 201904230046A Distribution of notice of AGM MTN Group Limited (Incorporated in the Republic of South Africa) Registration Number 1994/009584/06 Share code: MTN ISIN: ZAE000042164 (‘MTN' or ‘the Company') DISTRIBUTION OF NOTICE OF THE 24TH ANNUAL GENERAL MEETING Annual General Meeting The 24th annual general meeting (‘AGM') of shareholders of MTN will be held on Thursday, 23 May 2019 at 14:30 (South African time), in the Auditorium, Phase II, level 0, 216 - 14th Avenue, Fairland, Gauteng, to consider and, if deemed fit to pass, with or without modification, the ordinary and special resolutions set out in the notice of the AGM and to deal with such other business as may lawfully be dealt with at the AGM. Record dates The record date by when persons must have been recorded as shareholders in the securities register of the Company to be entitled to receive the notice of AGM was Friday, 12 April 2019. The record date in order to be recorded as a shareholder in the securities register of the Company to be entitled to participate in and vote at the AGM is Friday, 17 May 2019. Therefore, the last day to trade to be recorded in the securities register of the Company as a shareholder on the aforementioned record date is Tuesday, 14 May 2019. Proxies Forms of proxy for the AGM should be lodged preferably by Tuesday, 21 May 2019 at the registered office of the Company or with the Company's South African transfer secretaries (Computershare Investor Services). Any forms of proxy not lodged by this time may be handed to the chairman of the AGM immediately prior to the commencement of the AGM on Thursday, 23 May 2019. Availability of the notice of AGM The notice convening the AGM is being posted today and is also available on the Company's website at https://www.mtn.com/investors/financial-reporting/integrated-reports/. Fairland 23 April 2019 Lead sponsor JP Morgan Equities (SA) Proprietary Limited Joint sponsor Tamela Holdings Proprietary Limited Date: 23/04/2019 04:39:00 Produced by the JSE SE

Amplats' Griffith "not losing sleep" over wage talks, thinks AMCU facing...

Chris Griffith, CEO, Anglo American Platinum NEAL Froneman, CEO of Sibanye-Stillwater, may be hoping a peace pact the Association of Mineworkers & Construction Union (AMCU) signs ahead of returning members to work at the firm's gold mines - where a five-month strike was recently ended - will be carried over (at least in spirit) when his company sits down to wage talks in the platinum group metal (PGM) sector from next month. So concerned was the company about the risks of things like platinum industry wage talks - and the possibility of strike action at its platinum mines - that it took the opportunity this month to issue shares and sell gold forward. It raised about R3.45bn in order to reduce debt, citing the risk of exogenous factors, on cash flow.

Global oil markets adequately supplied -IEA

April 23 (Reuters) - Global oil markets are adequately supplied and spare production capacity remained at comfortable levels, the International Energy Agency (IEA) said on Tuesday, while highlighting the need to avoid higher oil prices amid fragile global economic growth. The agency's comments come against the backdrop of the United States tightening its sanctions on leading oil producer Iran. "Further tightening of sanctions on Iran will have an impact on its export capacity," the Paris-based IEA said, adding Iranian shipments of crude and condensates are running around 1.1 million barrels per day (bpd), 300,000 bpd lower than March, and 1.7 million bpd lower than May 2018. The agency, which coordinates the energy policies of industrialised nations, said global spare production capacity has risen to 3.3 million bpd due to high compliance rate with the agreed supply cuts among the Organization of the Petroleum Exporting Countries and its allies. OECD oil inventories at the end-February were at 2.871 billion barrels, above the five-year average, IEA said, adding total oil supplies from the United States are expected to increase by 1.6 million bpd this year. (Reporting by Eileen Soreng in Bengaluru Editing by Marguerita Choy) 2019-04-23 21.

Yoco: Small business' saving grace

RMB Solutionist Thinking is a podcast series hosted by Bruce Whitfield which focusses on great South African minds thinking differently and going against the norm. In this episode in the second series, Whitfield interviews the co-founder and Chief Executive Officer of Yoco, Katlego Maphai. If there's a business that knows all about the long, gruelling hours that goes into shaping and moulding a small business into a profitable, income-generator, it's Yoco - a South African fintech startup that has positioned itself as a driving force behind starting the difficult process of wealth development within communities. As it appears, it was written in the stars that Katlego Maphai, an ICT consultant and four friends, would come out of the cell phone industry to solve, what was essentially, a financial services problem for South African small businesses. We sped things up and we were able to get that on-boarding process down to minutes.

Business Weekly Economic Index: Oil prices hit highest since November 2018

Broadband infrastructure company, MainOne in collaboration with social media giant, Facebook has expended $20 million to develop terrestrial fibre technology in Edo state, Nigeria. The disclosure was made by the State Governor, Godwin Obaseki, during an interview after the ninth edition of the Annual Investment Meeting (AIM) in Dubai. According to the governor, his administration decided to work with tech companies because global economic growth now comes from the digital transactions of digital economies. "Today, we have an innovation hub, and we are partnering with technology companies … We are constructing about 400 kilometres of fibre in Edo as we speak," Governor Obaseki said. He also revealed that the project will be ready for commissioning in the next couple of months. According to Nairametrics, two states in Nigeria - Edo and Ogun - will be recipients of the metro fibre infrastructure project by MainOne and Facebook.

Devastating year for households net wealth

JOHANNESBURG South African households experienced a devastating year in 2018. Collectively they lost about R450 billion or halfatrillion rand of their real net wealth (the actual purchasing power of net wealth).This equates to an average loss of about R32 000 per household which means that the net wealth per household was at the same level as in 2008. This has grave consequences for households the government companies and the performance of the South African economy.

Chris Maroleng axed as SABC COO

Chris Maroleng with President Cyril Ramaphosa in this file photo Chris Maroleng, the former MTN Group senior executive, has been fired as chief operating officer of the public broadcaster with immediate effect. He had been in the role for just over a year. In a statement on Tuesday, the SABC said that "after due consideration of the findings and recommendations of a disciplinary process, the board resolved to terminate the contract of employments of … Maroleng with immediate effect".

All about the Distell Inter Hotel Challenge

"When you get into a hotel room, you lock the door, and you know there is a secrecy, there is a luxury, there is fantasy. There is comfort. There is reassurance." These words by Belgian fashion designer Diane von Fürstenberg, who rose to fame and became Princess Diane of Fürstenberg when she married Prince Egon von Fürstenberg, are often used to describe the unique allure of hotels.

Yoco: Small business' saving grace

RMB Solutionist Thinking is a podcast series hosted by Bruce Whitfield which focusses on great South African minds thinking differently and going against the norm. In this episode in the second series, Whitfield interviews the co-founder and Chief Executive Officer of Yoco, Katlego Maphai. If there's a business that knows all about the long, gruelling hours that goes into shaping and moulding a small business into a profitable, income-generator, it's Yoco - a South African fintech startup that has positioned itself as a driving force behind starting the difficult process of wealth development within communities. As it appears, it was written in the stars that Katlego Maphai, an ICT consultant and four friends, would come out of the cell phone industry to solve, what was essentially, a financial services problem for South African small businesses. We sped things up and we were able to get that on-boarding process down to minutes.

RDI REIT PLC - Statement re Cromwell Property Group (Cromwell) withdrawal

RPL 201904230051A Statement re Cromwell Property Group (‘Cromwell') withdrawal RDI REIT P.L.C. (‘RDI' or the ‘Company') (Incorporated in the Isle of Man) (Registered number 010534V) LSE share code: RDI JSE share code: RPL ISIN: IM00BH3JLY32 LEI: 2138006NHZUMMRYQ1745 STATEMENT RE CROMWELL PROPERTY GROUP (‘CROMWELL') WITHDRAWAL THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION 23 April 2019 The Board of RDI notes the announcement by Cromwell that it does not intend to make an offer for RDI and that it is consequently bound by the restrictions under Rule 2.8 of the City Code on Takeovers and Mergers (the ‘Code'). Since the initial unsolicited approach from Cromwell, the Board has actively engaged with Cromwell in order to facilitate its due diligence requirements. However, following such engagement, the Board recently received a conditional proposal from Cromwell. The Board considered the proposal to undervalue the Company and its prospects and, as a result, the Board took the unanimous decision not to support a further period of due diligence. The Board has also received confirmation from Redefine Properties Limited, the Company's largest shareholder, that the proposal was unacceptable to it. The Board welcomes the clarification provided by the announcement from Cromwell and looks forward to updating its shareholders at its half year results on Thursday 25th April. For further information, please contact: J.P.

Tim George to head Pensana Metals exploration in Angola ahead of London listing

JOHANNESBURG Australian mining company Pensana Metals on Tuesday announced the appointment of experienced Anglo American executive and minerals engineer Tim George as its new chief executive as the rare earths miner looks set to list at the London Stock Exchange later in the year.Pesana has a globally significant neodymium and praseodymium (NdPr) deposit at the Longonjo NdPr Project in Angola close to major transport links and infrastructure which is the key to project development.The company looks to capitalize in clean energy future as the world moves towards zero emissions NdPr electric motors.There is a major NdPr supply shortfall predicted by 2021 while China controls well over 96 percent of the worlds NdPr production.George who is based in Cape Town has over 30 years of experience in the mining and engineering sectors with a broad experience in mining project development throughout SubSaharan Africa. He has previous experience working in Angola as chairman and chief executive of Xceldiam an AIMlisted diamond exploration company based in Angola which was bought out by Petra Diamonds in 2007.George said rare earths was one of the most exciting sectors to be involved in right now and that he was excited about his new role in Pensana.He said he has easy access to Angola and was looking forward to spending time on the ground with chief operations officer Dave Hammond and the team working with the local community in understanding its needs furthering the warm relationships with the government representatives and moving the project through development and into production. "There is no doubt that NdPr is at the centre of the green energy revolution and the Longonjo project is rapidly emerging as one of the front runners in the race to become the second nonChinese significant miner of this critical metal" George said."I have previously worked in Angola and on my recent site visit was astonished by the transformation of the countrys infrastructure with the U.S.$20 billion

Mpati Commission evidence lands Survé in fast-heating water

CAPE TOWN — Given sufficient billions in State pensions money , political connection, boundless ambition and iron-control of a sycophantic media empire , you can easily script a noble, socially-uplifting narrative.  Except that when the illusion begins to fray, you have to convince the world that a slew of people who, until you came along had unblemished reputations, are out to get you. When your own employees start delivering damning testimony to the Mpati Commission of alleged manipulation of company bottom lines, your self-portrait as an arms-length media owner and financial chief quickly loses lustre. Veteran journalist Ed Herbst, meticulously pulls together strands of evidence and expert observations both at the Mpati Commission and beyond, to weave a very different narrative to the one Surv é 's newspapers have stitched together through commission and omission.

19 firms (incl Naspers, Standard Bank, Sanlam) now listed on JSE competitor A2X

became the latest large South African company to start trading its shares on the A2X exchange. Its primary listing will remain on the Johannesburg Stock Exchange. Earlier this month Aspen Pharmacare listed on the A2X exchange. The pharmaceutical group has a market cap of R42.4 billion. There are now 19 companies listed on A2X including the likes of Naspers, the Standard Bank Group and Sanlam. Ray White (in for Bruce Whitfield on The Money Show) interviewed Gary Clarke, Head of Legal and Regulation at A2X Markets. Listen to the interview in the audio below (and scroll down for quotes from it). This [Mr Price] is our 6th Top-40 company… We got Naspers more quickly than we thought… Our market cap is about R2.4 trillion… Get the 10 most-read articles of the week from Bruce Whitfield's The Money Show, emailed to you every Friday morning.

KwaZulu-Natal: Woman injured after driving off bridge.

KwaZulu-Natal: At 07H59 Tuesday morning Netcare 911 responded to reports of a collision on the N3 direction Hilton in Chase Valley, Pietermaritzburg. Reports from the scene indicate that the driver of a light motor vehicle, an adult female in her thirties lost control of her vehicle which went over the N3 bridge crashing onto the embankment on Townbush Road. Paramedics assessed the woman and found that she had sustained serious injuries. The patient was treated on scene before being transported by ambulance to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911 https://t.co/yr1mq8Pk1i #ArriveAlive @Netcare911_sa pic.twitter.com/CXYzVKnTtR — Arrive Alive (@_ArriveAlive) April 23, 2.

South Africans trying to save money are downgrading their medical aid plans

pixabay.com, 2019 About 3% of medical aid members change their schemes on average in a year, according to Alexander Forbes Health. In 2018, however, 5.2% of the company's customers made changes to their plans, about equally split between upgrades and downgrades. So far this year, 6.7% of Alexander Forbes Health clients made changes to their medical aid plans. Of this 3.8% requested a downgrade while 2.9% upgraded. Ray White (in on The Money Show For more detail listen to the interview in the audio below. Get the 10 most-read articles of the week from Bruce Whitfield's The Money Show, emailed to you every Friday morning.

5 reasons why your business should consider outsourcing non-core services

Organisations started outsourcing specific business activities in the 1990s mainly as a cost-saving measure. Functions not related to the core business, such as accounting, human resources, data processing, security and maintenance were contracted out to specialised service providers rather than handled by internal staff and resources. According to Statista.com, the global market size dipped in 2016 but has picked up significantly since then, climbing to $85.6 billion in 2018.

Med crude-Urals crude firms in Baltic after Surgut tender

MOSCOW, April 23 (Reuters) - Urals differentials rose in northwest Europe on Tuesday after Surgutneftegaz sold 340,000 tonnes of the grade at firmer levels via a tender loading from ports in the Baltic and Novorossiisk on the Black Sea, traders said. * Surgutneftegaz sold two cargoes of 100,000 tonnes each loading from Primorsk on May 8-9 and from Ust-Luga on May 7-8 at dated Brent plus $0.10-0.20 a barrel when adding freight to an original FOB differential, traders said. * Both cargoes were purchased by China's Unipec, traders said.

South Africans trying to save money are downgrading their medical aid plans

About 3% of medical aid members change their schemes on average in a year, according to Alexander Forbes Health. In 2018, however, 5.2% of the company's customers made changes to their plans, about equally split between upgrades and downgrades. So far this year, 6.7% of Alexander Forbes Health clients made changes to their medical aid plans. Of this 3.8% requested a downgrade while 2.9% upgraded. Ray White (in on The Money Show For more detail listen to the interview in the audio below. Get the 10 most-read articles of the week from Bruce Whitfield's The Money Show, emailed to you every Friday morning.

JSE closes firmer as weaker rand lifts rand hedges

The JSE eked out gains on Tuesday mainly on the back of gains recorded in resources and rand hedges which were buoyed by the weaker rand. Eskom's liquidity woes as well as a stronger US dollar saw the rand retreat to a session low of R14.33/$. The rand was trading 1.2% at R14.31/$ at 17:00, with further signs of potential weakness being exhibited by the US dollar which continued to advance against a basket of major currencies.

Families, business owners count cost of Amcu strike

With Amcu members returning to work for their first salaries in almost five months, family members and businesses that have felt the pinch say that it is going to take a while to recover from the effects of the strike. | JOHANNESBURG - With members returning to work for their first salaries in almost five months, family members and businesses that have felt the pinch say that it is going to take a while to recover from the effects of the strike.About 15,000 workers at Sibanye-Stillwater's Driefontein, Kloof in Gauteng and Beatrix operations in the Free State are expected back after their union Amcu signed a wage deal that will see them earning R700 more for the next two years and R825 in the third year. Amcu had demanded no less than R1,000 for the next three years but abandoned this when Sibanye took the matter to court. Joseph Bila has been running a local spaza shop and a tavern for 13 years. He said that this strike has been the toughest yet. Meanwhile, one woman, whose sister works at the mine and is the sole breadwinner, said that she has been forced to take up sex work in order to help the family make ends meet. "I give that person my body so I can take care of the home and for my child so he can be like any other child.

Business Maverick: Kraft Heinz's Problems Run Deeper Than Its CEO

Kraft Heinz Co.'s problems stem not from a single manager but rather an ethos brought to the company by its private equity owner, 3G Capital, and championed by billionaire Warren Buffett. And so it remains to be seen whether replacing the packaged-food giant's CEO is enough to right the ship, writes Tara Lachapelle for Bloomberg Opinion --.

CPV POWER PLANT NO.1 BOND SPV (RF) LIMITED - CPV01-Noteholder's Information Session on Group Five Business Rescue and Impact

CPV01 201904230013A CPV01-Noteholder's Information Session on Group Five Business Rescue and Impact on the Notes CPV Power Plant No.1 Bond SPV RF Ltd. (Incorporated in the Republic of South Africa) (Registration number 2012/176922/06) Instrument Code: CPV01 ISIN: Z AG000104894 (‘the Issuer') Notice of Noteholders Meeting: Information Session to Inform Noteholders of Progress in Remedying Group Five's Business Rescue Impact on CPV1 Pursuant to the SENS released on 9th April 2019, noteholders are invited to an information and feedback session to discuss the impact of Group Five's business rescue proceedings on the CPV1 notes. Please take note of meeting details below and indicate your attendance by no later than 9th May 2019. Meeting Date: 15th May 10:00am - 12:00 midday Location: Webber Wentzel's offices at Heerengracht Street, Convention Tower, Cape Town City Centre, Foreshore, Cape Town and at 90 Rivonia Rd, Sandton, Joburg (i.e. both offices, linked via teleconference). 23 April 2019 Debt Sponsor The Standard Bank of South Africa Limited Date: 23/04/2019 09:28:00 Produced by the JSE SENS Department.

Rand on back foot JSE up

JOHANNESBURG The rand traded weaker on Thursday shifting back above the R14 mark with investors closing positions and taking profits in anticipation of low volume ahead of the Easter holidays.At 5pm the rand bid at R14.0646 to the dollar 9cents softer than at the same time on Wednesday falling alongside its emerging market peers as global risk demand faded.The rand eked out gains in the previous session after retail sales came in weak but better than forecasts offering hope the economy could shake off the impact of nationwide power outages over February and March.The central bank however warned late on Wednesday that should the rolling blackouts persist throughout the year it may knock 1.1percentage off gross domestic product leaving Africas most industrialised economy facing possible recession.With local markets closed on Friday and yesterday liquidity wass set to be tight with the rand likely to struggle to find momentum to drive it significantly below R14 traders said.In equities the blue chip Top40 index gained 0.59percent to 52872.78 points while the broader all share index advanced 0.53percent to 59222.47 points.Among the top blue chip gainers Clicks Group jumped 6.19percent to R195.46 Mr Price was up 3.35percent to R215.96 The Foschini Group advanced 2.84percent to R186.66 and MTN climbed 2.71percent to R105.30.The decliners were led by Sasol down 1.39percent to R467.81 Spar Group which retreated 1.38percent to R202.66 and British American Tobacco down 1percent at R561.02.Shares in miner Sibanye closed 0.69percent lower at R14.30 despite the fact that the company agreed a wage settlement with The Association of Mineworkers and Construction Union to end a fivemonth strike at its gold operations. Reuters.

Bidvest Premier Lounge and Michelangelo winning wines and spirits unite to pamper travellers' taste buds

Bidvest Premier Lounge will begin the process of procuring and phasing in Michelangelo award-winning wines and spirits into eleven Bidvest Premier Lounges around the country.  These include departure lounges  at both the domestic and international terminals at OR Tambo International and Lanseria International in Gauteng, Cape Town International, King Shaka International in Durban, Port Elizabeth International, East London Airport, George Airport and Bram Fischer Airport in Bloemfontein. An annual audience of 1 500 000 More than 1,5 million travellers annually use the premium leisure and business facilities in these lounges - a top LSM group which will in future have access to a selection of award-winning wines and spirits from the Michelangelo International Wine & Spirits Awards.

MR PRICE GROUP LIMITED - Secondary listing on A2X

MRP 201904230001A Secondary listing on A2X Mr Price Group Limited Registration number 1933/004418/06 Incorporated in the Republic of South Africa ISIN: ZAE000200457 JSE share code: MRP (‘Mr Price Group' or ‘the Company') SECONDARY LISTING ON A2X Mr Price Group is pleased to advise shareholders that its ordinary shares will be traded on the A2X exchange with effect from 2 May 2019 (the ‘A2X listing date'). Mr Price Group will retain its primary listing on the Johannesburg Stock Exchange (JSE) and its issued share capital will be unaffected by the secondary listing on A2X. Mr Price Group's ordinary shares will be available to be traded on both the JSE and A2X from the A2X listing date. A2X is a licensed stock exchange authorised to provide a secondary listing venue for companies and is regulated by the Financial Sector Conduct Authority in South Africa in terms of the Financial Markets Act 19 of 2012. Durban 23 April 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 23/04/2019 07:05:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Amcu members to return to work at Sibanye gold mines after strike

About 15,000 workers are expected to report for duty at the company's Driefontein, Kloof and Beatrix operations after a payless stay away that lasted almost five months. | CARLETONVILLE - Amcu-affiliated miners employed at Sibanye-Stillwater's gold operations are returning to work on Tuesday morning but some are going back with skepticism towards mine management and the government.About 15,000 workers are expected to report for duty at the company's Driefontein, Kloof and Beatrix operations after a payless stay away that lasted almost five months.Last week, the mining union abandoned its bid for a R1,000 increase for the next three years and settled on a hike of R700 for the next two years and R825 the following year. That's the same deal that rival unions Uasa, the NUM and Solidarity signed in November. Khumbulani Mbotshelwa is employed at Sibanye-Stillwater's Driefontein operation on Gauteng's West Rand. Before his union Amcu signed a wage agreement with the mine, he and his colleagues were prepared to stay away from work for as long as possible. "We are willing for 12 months or even 24 months. Our children have been hungry for years, even if they starve for an entire year, for them to be fed for the coming years.

Asian shares edge higher as markets open after Easter break

Hong Kong/Tokyo — Stocks in Asia rose marginally on Tuesday as many markets reopened after the Easter long weekend break, while oil jumped to its highest this year as the US tightened sanctions on Iran. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, while Japan's Nikkei was little changed. Chinese stocks extended losses on concerns that Beijing will slow the pace of further policy easing after unexpectedly strong first-quarter economic data last week. Shares in Shanghai slid 0.4% after policymakers vowed to fine-tune monetary policy, ensuring it is "neither too tight, nor too loose". Analysts believe Beijing's message signalled a more tempered approach in easing policy amid worries about debt growth, and sent local stocks to their heaviest fall in almost four weeks on Monday. But Stefan Hofer, chief investment strategist at LGT Bank Asia in Hong Kong, said a market adjustment was expected. China's blue-chip stocks have surged over 30% so far in 2019 on expectations of more stimulus and hopes that Beijing and Washington will soon reach a deal to end their bruising trade war. "We've had a fantastic run in Chinese equities year-to-date, some profit taking is completely normal.

WATCH: Stock picks — Glencore and Ethos Gold

Greg Katzenellenbogen from Sanlam Private Wealth chose Glencore as his stock pick of the day and Graeme Körner from Körner Perspective chose Ethos Gold. Katzenellenbogen said: "I'm going again for Glencore, they are in the resources and I do believe that from a supply-demand point of view that copper will be under pressure. The copper price is moving quite nicely and I think Glencore is the best place to take advantage of a strong rising copper. I believe at these levels there is still some significant upside to the stock." Körner said: "I'm going for Ethos once again; they came out with results to December a little while ago, steadily deploying the capital and now up to around 80% deployed and committed.

Families, business owners count cost of Amcu strike

JOHANNESBURG - With Association of Mineworkers and Construction Union (Amcu) members returning to work for their first salaries in almost five months, family members and businesses that have felt the pinch say that it is going to take a while to recover from the effects of the strike. About 15,000 workers at Sibanye-Stillwater's Driefontein, Kloof in Gauteng and Beatrix operations in the Free State are expected back after their union Amcu signed a wage deal that will see them earning R700 more for the next two years and R825 in the third year. Amcu had demanded no less than R1,000 for the next three years but abandoned this when Sibanye took the matter to court.

Nissan Qashqai vs X-Trail - Pick your next Nissan SUV

Buying a new car is one of the most exciting things you can do. There's nothing quite like that "new car" smell, and the excitement of driving your new wheels out of the showroom is one of life's great pleasures. If you're in the market for a crossover SUV, there's no better place to look than at McCarthy Nissan for #YourNextNissan. Nissan is well-known for producing top-class vehicles within the crossover market, and the latest Qashqai and X-Trail models are no exception. Both vehicles demand your consideration as they offer a fantastic blend of performance and aesthetic appeal. This Nissan Qashqai has been given a makeover to ensure that it exudes a premium feel.

intu and Cale Street Investments announce 50/50 joint venture

intu Properties and Cale Street Investments LP have announced the establishment of a 50/50 joint venture for the intu Derby shopping centre. Cale Street, an investment firm backed by the Kuwait Investment Office in London, will acquire for cash the 50 per cent interest for consideration which values the company's share of the property at £186.3 million, before taking account of senior debt finance and customary working capital adjustments. This structured equity transaction includes a prioritisation waterfall for distributions to the joint venture partners.

Flash Briefing: Tributes for Buzan; ZACP wants to gift SOEs; 3G ejects Kraft boss; US blocks Iranian oil

The United States yesterday ratcheted up its fight against Iran. The White House announced that it is ending waivers for countries importing oil from the Middle Eastern country as part of the Trump administration's effort to deprive Iran of export revenue. The US had previously granted eight unnamed countries, believed to include China, India and Turkey, a 180-day waiver to continue buying oil despite US sanctions, provided each took steps to reduce purchases and move toward ending Iranian imports.

GLOBAL MARKETS-Asian shares steady after Easter weekend; oil hits 2019 highs

* Oil surges on U.S. plan to tighten Iran sanctions * Dollar little changed; loonie, ruble ride oil gains * Wall Street stocks mixed; S&P 500 nears record high * Asian stock markets: tmsnrt.rs/2zpUAr4 By Tomo Uetake TOKYO, April 23 (Reuters) - Asian shares were little changed on Tuesday, hovering not far from nine-month peaks hit last week, with concerns China may slow the pace of policy easing curbing the market's enthusiasm. MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan's Nikkei average eased 0.2 percent.

Ingenuity expects five-fold rise in HEPS

The Western Cape property investor is in the process of buying back close to a third of its shares. Ingenuity Property Investments expects a strong rise in headline earnings as it prepares to repurchase close to a third of its stock from investors. In a trading statement, the Western Cape property developer said headline earnings per share for the six months to end-February would rise five-fold to 2.5c from the 0.5c reported last year.

Business Maverick: Kraft Heinz's Problems Run Deeper Than Its CEO

Kraft Heinz Co.'s problems stem not from a single manager but rather an ethos brought to the company by its private equity owner, 3G Capital, and championed by billionaire Warren Buffett. And so it remains to be seen whether replacing the packaged-food giant's CEO is enough to right the ship, writes Tara Lachapelle for Bloomberg Opinion.

PRESS DIGEST- New York Times business news - April 23

April 23 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy. - Tesla Inc CEO Elon Musk said the company was on the cusp of making cars that could drive themselves safely on any road, promising that Tesla would begin operating a fleet of driverless "robo taxis" by the end of next year.

GLENCORE PLC - GLN:Transactions In Own Shares-18 April 2019

GLN 201904230004A GLN:Transactions In Own Shares-18 April 2019 Glencore plc (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 23 April 2019 Transactions in own shares-18 April 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 18 April 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,250,000 Lowest price paid per share (GBp): 334.3500 Highest price paid per share (GBp): 340.1000 Volume weighted average price paid per share (GBp): 337.8045 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 767,690,582 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,818,509,484. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the second part of the Company's existing buy-back programme which is expected to be completed over the period from 8 August 2018 to 20 February 2019, details of which were announced by the Company on 5 July 2018 and 25 September 2018. Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 337.8406 1,268,632 BATS 338.1820 57,681 Chi-X 337.7313 923,687 Transaction details In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the individual trades made by Citigrou

UPDATE 1-Teck Resources beats profit estimates on energy business

(Adds estimates, forecast, CEO comment) April 23 (Reuters) - Canadian miner Teck Resources Ltd , the world's second-biggest exporter of steelmaking coal, reported a better-than-expected quarterly profit on Monday, boosted by its energy business and a slight increase in commodity prices. The miner said even though commodity prices were lower than a year ago, prices rose during the first quarter and closed higher than prices at Dec. 31, 2018.

Sonangol plans to downsize to focus on core business

Angola's State oil company Sonangol plans to divest 52 joint ventures, reduce staff and focus on its core business, part of an ongoing reorganisation and package of reforms designed to lure back investors, its chairman said on Friday. "We are going to sell, close or put out of our group a lot companies," Carlos Saturnino told an oil conference in Paris. "Last year, we identified 52 joint ventures in which we want to sell our equity." "Instead of investing in Australia, United States etc, Sonangol wants to become an oil company of reference in the African continent.

The Small Business Corner: Puly's Cupcakes

WE at people magazine believe in the small business enterprise as a driver of our economy. We are strong supporters of individuals who exhibit an entrepreneurial spirit and who are creating jobs. And that's why we want to give them our full support.

Amcu members to return to work at Sibanye gold mines after strike

CARLETONVILLE - Amcu-affiliated miners employed at Sibanye-Stillwater's gold operations are returning to work on Tuesday morning but some are going back with skepticism towards mine management and the government. About 15,000 workers are expected to report for duty at the company's Driefontein, Kloof and Beatrix operations after a payless stay away that lasted almost five months. Last week, the mining union abandoned its bid for a R1,000 increase for the next three years and settled on a hike of R700 for the next two years and R825 the following year.

Cannabis: Great new Business Opportunity or Hype?

Does South Africa really have the potential to create a uniquely African cannabis industry that can benefit everyone, especially marginalised rural communities, some of which are part of an existing cannabis supply chain?   With cannabis legalisation on the horizon for many countries, it has ushered in a new era of potential economic benefits. South Africa's unique cannabis constitutional rights combined with ideal growing conditions, positions our country to take full advantage of this burgeoning industry. There are however risks of small-scale cannabis farmers and entrepreneurs being dominated by large corporations as well as a stringent regulatory framework.

Don't wait for politicians. South Africans need to save themselves

Over the past few months, I've been doing what one might call an ‘observation study'. Highly unscientific, it involves counting the number of days in a working month where I drive the 10.6 kilometres from my house to Moneyweb's office in Houghton Estate, Johannesburg (and back), without observing a single person jumping a red traffic light. It doesn't happen often.

Battle rages for control of the lucrative lottery

JOHANNESBURG National lottery operator Ithuba and Hosken Consolidated Investments (HCI) the owners of Tsogo Sun are embroiled in a bitter legal battle for control of the lucrative lottery business with HCI demanding R5million a month from Ithuba in management fees.At the heart of the dispute is the multimillionrand loan that HCI granted to Ithuba in 2015 when it won the contract to operate the national lottery. In legal papers HCI wants arbitrators to rule that Ithuba was not entitled to repay a portion of the loan it granted it in 2015 early. HCI further wants arbitrators to rule that it is entitled to exercise oversight over Ithuba.

Congo-Brazzaville ships first iron ore ahead of expected production boom

BRAZZAVILLE - Congo-Brazzaville shipped its first iron-ore exports on Friday ahead of an expected boom in production from mines owned by Congolese billionaire Paul Obambi 's Sapro and Swiss commodities giant Glencore. Sapro mined the oil-dependent Central African country's first iron ore in 2017 from its Mayoko project in the southwest and plans to reach output of 12-million tonnes a year by 2022. Glencore's joint venture with British Virgin Islands-incorporated Zanaga Iron Ore plans to ship two-million tonnes of iron-ore a year over the next two years, and 30-million tonnes by 2024.

ANC, EFF pull out all the stops in Northern Cape

A total of 29 political parties have registered to contest the provincial and national elections in the Northern Cape. Having turned all its organisational structures into election teams, beefed up by government officials and about 2 000 volunteers on the ground, the ANC in the province is bracing itself for an "overwhelming victory". But it will not be business as usual, as the DA is poised to loosen the governing party's grip in what looks like a David versus Goliath election battle.

SA business lobby to challenge proposed law to regulate Airbnb

Sakeliga says the government is reinventing the wheel and, at worst, letting the air out of the tourism industry's tyres A business lobby group says it is considering legal steps to challenge a new bill meant to regulate short-term home rentals, including those on online platforms such as Airbnb. Last week the government published the Tourism Amendment Bill for public comment. Should it be signed into law, short-term home rentals will be regulated under the Tourism Act. The minister of tourism could then specify various "thresholds" in terms of Airbnb rentals in SA.

It's about ideology, rather than biology for ATM's 31-year-old leader

He is 31 years old, single, holds a business management degree from the Nelson Mandela University and is currently working towards attaining an honours degree in that subject through Unisa. One would be forgiven for thinking these sound like the credentials of a young man looking for love on an online dating site. In actual fact, they are the credentials of Vuyolwethu Zungula, the leader of the African Transformation Movement (ATM) political party and one of 48 party leaders vying to be the sixth democratically elected president of South Africa after the May 8 elections.

What Happens When A Big Business Tries To Take Over And Rename A Neighborhood

Raechel A. Portelli, Michigan State University What if Google tried to rename your neighborhood? That happened to some Californians in spring 2018, when Google Maps changed the moniker of three San Francisco neighborhoods - Rincon Hill, South Beach and South Market - to "East Cut." Given the extensive reach that Google has in the transmission [ ] The post appeared first on Moguldom..

Business The Noiler Birds Initiative is reducing rural poverty in Nigeria, one chicken at a time

In 2003, the National Demographic and Health Survey in Nigeria reported that 38 percent of children under 5 in the country had stunted growth, 29 percent were underweight and 9 percent were wasted. In the survey, many of the malnourished children were much more in rural Nigeria than urban. In the same year, an indigenous Nigerian farm, Amo Farm Sieberer Hatchery (AFSH), conducted research that would take it 11 years to complete, and change the face of rural poverty reduction in the country.

Good Business Basics: AG's office needs more bite, less bark

I have been quite critical in the past about the oversight role of the Auditor-General (AG) on the functioning of government departments and entities. My criticism stemmed mainly from the lack of consequences arising from any adverse findings, and the lack of improvement in governance structures to avoid repeated infractions by culprits. ALSO READ :  Good Business Basics: Why are goals not being achieved? It was therefore very heartening to witness the proclamation of the Public Audit Amendment Act by President Cyril Ramaphosa, which became law on April 1, 2019.

Luther Singh happy with his progress in Portugal

Luther Singh believes his game can only go from strength to strength now that the South Africa Under-23 international is earning a lot of game time in the Portuguese Primeira Liga. There were concerns‚ six months ago‚ that Singh's career had stalled as a first-team breakthrough at Sporting Braga continued to elude the 21-year-old striking prospect. Singh burst onto the scene at 18 with a hat trick for Amajita in a 3-1 win against Cameroon in the Amajita's opening game of the 2017 U-20 Africa Cup of Nations in Zambia‚ ending joint-top scorer with four goals as SA finished third and qualified for the U-20 World Cup.

UPDATE 1-Kraft Heinz names Anheuser-Busch executive as new CEO

(Adds details on Patricio, Hees, share movement) April 22 (Reuters) - Kraft Heinz Co replaced Chief Executive Officer Bernardo Hees with Anheuser-Busch InBev veteran Miguel Patricio, pointing the way to a possible change of strategy that may involve moving away from years of cost-cutting. The announcement comes just months after the company took a $15.4 billion writedown for its Kraft and Oscar Mayer brands and other assets, slashed its dividend, and said the U.S. Securities and Exchange Commission was probing its accounting practices.

UPDATE 2-Kraft Heinz banks on Anheuser-Busch exec in strategy shift

(Adds Kraft Heinz statement, background on Hees tenure; updates shares) April 22 (Reuters) - Kraft Heinz Co replaced Chief Executive Officer Bernardo Hees with Anheuser-Busch InBev veteran Miguel Patricio, changing leadership after years of cost-cutting that has hurt some of its biggest brands. The announcement follows a cut in the company's dividend payouts to investors after it wrote down the value of the Kraft and Oscar Mayer brand names and other assets by more than $15 billion in February. It also faces a U.S.

Stop trying to treat nonprofits "like a business"

"They're thinking of giving as analogous to investing, when it isn't." In the United States, 1 in 3 people don't trust nonprofits to spend their donations wisely . At the same time, both individuals and institutions  are reluctant to contribute to basic costs like overhead, which limits groups' ability to grow more sustainable and impactful. Both issues stem from the same major misperception.

Kraft Heinz names Anheuser-Busch executive as new CEO

April 22 (Reuters) - Kraft Heinz Co said on Monday it appointed Anheuser-Busch InBev executive Miguel Patricio as Chief Executive Officer, replacing Bernardo Hees. Patricio will take over from Hees on July 1. (Reporting by Uday Sampath in Bengaluru; Editing by Shailesh Kuber).

White House adviser sees oil markets weathering expected end to Iran oil waivers

WASHINGTON, April 22 (Reuters) - White House economic adviser Kevin Hassett said on Monday that he believed global oil markets would be able to handle an expected U.S. decision to force buyers of Iranian oil to either end imports or face sanctions, despite Monday's surge in oil prices. "I think that the global oil markets are poised to be able to deal with this," Kevin Hassett said in an interview with CNBC. (Reporting by Makini Brice) 2019-04-22 14.

Calls for journos to report corruption to police are a deflection

Editor's note: The opinions in this article are the author's, as published by our content partner, and do not represent the views of MSN or Microsoft. As often happens when journalists report on alleged corruption, some detractors of Pieter-Louis Myburgh's book, Gangster State: Unravelling Ace Magashule's Web of Capture, complained that Myburgh should have reported the alleged corruption to the police instead of doing his job and writing a book about it. Some have even argued that Myburgh (or at least his editor) has a legal duty to report the alleged corruption to the police.

Brothers making profits with an egg business

Mthatha brothers have taken an initial start-up loan from their mother and turned it into a thriving egg-producing business, despite both being in their early 20s. Two brothers are set on dominating the egg industry in the Eastern Cape. At the tender ages of 21 and 25 respectively, Lilitha and Khanya Bam, who own Lwando Farming Enterprise, supply between 80 and 100 trays of 60 eggs each to Spar Nicks Foods in King William's Town each week.

Luther Singh happy with his progress in Portugal

Luther Singh believes his game can only go from strength to strength now that the South Africa Under-23 international is earning a lot of game time in the Portuguese Primeira Liga. There were concerns‚ six months ago‚ that Singh's career had stalled as a first-team breakthrough at Sporting Braga continued to elude the 21-year-old striking prospect. Singh burst onto the scene at 18 with a hat trick for Amajita in a 3-1 win against Cameroon in the Amajita's opening game of the 2017 U-20 Africa Cup of Nations in Zambia‚ ending joint-top scorer with four goals as SA finished third and qualified for the U-20 World Cup.

GLOBAL MARKETS-Asia stocks firm, crude hits 5-mth high on Iran sanctions report

* Asian stock markets: tmsnrt.rs/2zpUAr4 * MSCI Asia-Pacific index flat, Nikkei dips 0.2 pct * Return of markets from Good Friday break awaited for cues * US eyes end to sanction waivers for Iran oil -Washington Post * Brent crude futures reach highest since November 2018 By Shinichi Saoshiro TOKYO, April 22 (Reuters) - Asian stocks were steady on Monday as investors awaited the return of major financial markets from the Good Friday holiday, while oil prices spiked on a report the U.S. is likely to ask all importers of Iranian oil to end their purchases or face sanctions. Brent futures rallied to a five-month high, after the Washington Post said U.S.

Mthatha brothers turn mom's loan into eggcellent business

Mthatha brothers have taken an initial start-up loan from their mother and turned it into a thriving egg-producing business, despite both being in their early 20s. Two brothers are set on dominating the egg industry in the Eastern Cape. At the tender ages of 21 and 25 respectively, Lilitha and Khanya Bam, who own Lwando Farming Enterprise, supply between 80 and 100 trays of 60 eggs each to Spar Nicks Foods in King William's Town each week.

Brothers making profits with an egg business

Mthatha brothers have taken an initial start-up loan from their mother and turned it into a thriving egg-producing business, despite both being in their early 20s. Two brothers are set on dominating the egg industry in the Eastern Cape. At the tender ages of 21 and 25 respectively, Lilitha and Khanya Bam, who own Lwando Farming Enterprise, supply between 80 and 100 trays of 60 eggs each to Spar Nicks Foods in King William's Town each week.

Anglo steps up defense to repel Agarwal's interest: Telegraph

Hires three investment banks. Anglo American Plc has hired three investment banks to fend off a potential takeover bid from the billionaire owner of Vedanta Resources Ltd, Anil Agarwal, the Telegraph reported, citing unidentified people. Agarwal has previously stated he had no intention to take over the miner, but bankers think he is now working with adviser JP Morgan Chase & Co to help finance a bid as soon as September, the British newspaper said. Anglo American's defence advisers, Morgan Stanley, Goldman Sachs Group and Centerview Partners LLC, are said to plan attacks on the quality of Vedanta's portfolio compared to Anglo's assets, while Agarwal's environmental track record is also likely to come under scrutiny, according to unidentified people cited by the Telegraph. The mining tycoon increased his stake in Anglo American to more than 20% in September 2017 through a mandatory convertible bond maturing in 2020. Although Agarwal's intentions are unclear, the approaching deadline is said to have put Anglo's management on high alert, the Telegraph said..

Emerging markets at mercy of US growth as investors weigh bets

Emerging-market investors will be looking for more evidence that the US economic turnaround is gaining traction if the lackluster end to last week hasn't already burst their balloon. Indexes of developing-nation currencies and bonds declined in the holiday-shortened week, while stocks ended on a down note as worse-than-expected data from Europe failed to sustain optimism triggered Monday by signs of a pick-up in China. The US will on Friday unveil its first estimate of gross domestic product data for the quarter ending March 31.

Kraft Heinz hires global brand expert Miguel Patricio as CEO

Bengaluru — Kraft Heinz named Miguel Patricio as its next chief executive on Monday, hoping the 30-year marketing veteran will revitalize brands such as Planters nuts and Oscar Mayer bacon at one of the world's largest packaged food companies. Patricio, a native of Portugal, will take over the top job in July after two decades at Anheuser-Busch InBev, where he rose to become the company's global head of marketing, building sales of beer brands Corona, Budweiser and others. Before AB InBev, Patricio worked at major consumer companies including Philip Morris, Coca-Cola and Johnson & Johnson. He succeeds Bernardo Hees, who was made CEO in 2015 when Kraft Foods and HJ Heinz merged. His appointment comes two months after Kraft Heinz slashed its quarterly dividend, wrote down the value its marquee Kraft and Oscar Mayer brands and other assets by more than $15bn. It also disclosed that it had been subpoenaed by the US Securities and Exchange Commission. Kraft Heinz's second-biggest shareholder, Brazilian private equity fund 3G Capital, has pushed the company to rein in expenses to tackle higher costs and sluggish growth, a strategy it has successfully implemented at holdings including Heinz and Anheuser-Busch. "Great companies are the ones that have the costs in control, that grow the top line, and grow the bottom line - it's not one or the other, Patricio said in an interview. "I have very good experience on that - on being more efficient every year, which doesn't mean cutting costs.

Kraft Heinz hires global brand expert Patricio as CEO

(Adds CEO comment, bylines) By Richa Naidu and Uday Sampath Kumar April 22 (Reuters) - Kraft Heinz Co named Miguel Patricio as its next chief executive on Monday, hoping the 30-year marketing veteran will revitalize brands such as Planters nuts and Oscar Mayer bacon at one of the world's largest packaged food companies. Patricio, a native of Portugal, will take over the top job in July after two decades at Anheuser-Busch InBev, where he rose to become the company's global head of marketing, building sales of beer brands Corona, Budweiser and others. Before AB InBev, Patricio worked at major consumer companies including Philip Morris, Coca-Cola Co and Johnson & Johnson. He succeeds Bernardo Hees, who was made CEO in 2015 when Kraft Foods and H.J. Heinz merged. His appointment comes two months after Kraft Heinz slashed its quarterly dividend, wrote down the value its marquee Kraft and Oscar Mayer brands and other assets by more than $15 billion. It also disclosed that it had been subpoenaed by the U.S.

NTVUganda has added KCCA to streamline regulation on children in markets video

KCCA to streamline regulation on children in markets A by-law is in the offing to streamline the management of both public and private markets in the city by the Kampala Capital City Authority (KCCA). The 2018 KCCA Markets Ordinance aims at creating better operations in market affairs that include mothers bringing their children to the market as they work. We visited Kizito and Bivamuntuyo Farmer's market in Kalerwe both privately owned markets within the city that are already asking mothers not to carry their children along with them as they come to the markets to vend.

Brazil's Petrobras revisits whistleblowers in wake of trading scandal

RIO DE JANEIRO, April 22 (Reuters) - Brazil's Petroleo Brasileiro SA is re-examining its treatment of whistleblower complaints after the indictment of six of the state-run oil firm's traders in December indicated that efforts to root out corruption had faltered, according to three people familiar with the matter. In recent weeks, officials at Petrobras, as the firm is known, have summoned a number of current and former employees who had flagged instances of corruption at the company, particularly in relation to its trading operations, the sources said. Company officials questioned the employees on how their complaints had been handled, said the people, who requested anonymity to discuss internal matters.

Anglo preparing to fend off Agarwal approach as 2020 deadline looms - Telegraph

Anil Agarwal, Vedanta executive chairman ANGLO American was drawing up plans to defend a possible takeover attempt by tycoon Anil Agarwal's Volcan Investments, said the Sunday Telegraph citing sources saying the UK group was mindful that the time for a bid was drawing close. In 2020, Volcan Investments either has to buy the underlying shares held in previously acquired voting rights the company owns in Anglo or roll over the loan entitling it to the voting shares. "He doesn't have the money right now," a City source told the Sunday Telegraph in its April 21 edition.

Zimbabwe: Business Not to Blame for Inflation

[Zimbabwe Standard] President Emmerson Mnangagwa s attempt at stemming economic recession and the obtaining galloping inflation by blaming and threatening business is an exercise in futility..

Understanding key investment terms

Most investment portfolios are made up of a combination of cash, bonds, property and equities, here's what it means. For many of us, investment is not something that we deal with in our everyday lives and it can therefore feel intimidating. Knowing basic terms, however, can help you: sort through some seemingly complex terminology used in the investment world feel that you know enough to understand the basics of your own investments ask some questions that could significantly increase your understanding of your investments Cash, bonds, property and equities Let's start with basic asset classes.

MIDEAST STOCKS-Top lender lifts Abu Dhabi, most Gulf markets rise

April 22 (Reuters) - Abu Dhabi's stock market rose for a fourth consecutive session on Monday, helped by heavyweight lender First Abu Dhabi Bank, while the Saudi market was pressured by losses for its petrochemical stocks, especially Saudi Kayan. The Abu Dhabi index rose 0.3 percent, with First Abu Dhabi Bank gaining 0.7 percent. The lender has been rising in the last few sessions after it obtained regulatory approval to increase its foreign ownership limit to 40 percent from 25 percent.

Zeder maintains an even keel

Amidst challenging and tough macro conditions, the JSE listed Zeder with its specific focus on the agri, food and beverage sectors, has delivered comparable recurring earnings and maintained its dividend for the financial year ended 28 February. Recurring headline earnings per share increased by 0,4% to 27,7 cents (2018: 27,6 cents) and a maintained dividend of 11,0 cents per share was declared. Headline earnings per share increased by 81,9% to 45,1 cents (2018: 24,8 cents), mainly due to an upward fair value adjustment reflecting the successful disposal of Capespan's investment in Joy Wing Mau.

12 beneficiaries graduate in food and beverage industry

Twelve Bergzicht Training beneficiaries recently graduated with Cathsseta accredited certificates in food service assistant and food and beverage service thanks to yet another generous donation by Distell. The company has sponsored many beneficiaries over the years since it first donated money for the training of individuals in the Cater Care Programme (now called the Cathsseta Food Service Assistant and Food and Beverage Service Programme) in 2007. "In the 11 years of working closely with the Bergzicht team, it is evident that integrity, passion and enthusiasm are the driving forces to their success.

Kraft Heinz replaces CEO with AB InBev marketer Miguel Patricio

Kraft Heinz Co. is bringing in Miguel Patricio, an executive with years of marketing experience in the competitive beer industry, as CEO as the packaged food maker tries to regain relevance. Bernardo Hees has been CEO of Kraft Heinz since the company was created with the 2015 merger of Kraft Foods Group and H.J.

The Big Small Business Show - 22 April 2019: Part 1

Nono Shabalala, founder & CEO of Incredible Tours & Travel, built her company systematically and throughly. The panel gives additional guidance to a lady who's actually already doing things right..

George Business Chamber meet and greet network session

The George Business Chamber , in collaboration with  Algoa FM , cordially invites you to attend a morning meet and greet network session. Xolani Luvuno, who finished the 2018 Comrades on crutches, will be the  special guest of the day. Xolani is visiting George to participate in the Blade category of the the Run2Raise Charity Road race and will be sharing his inspirational story, "From Addict to Athlete." Event Details: Date:  30 April Venue:  George Arts Theatre Time:  7.30am for 8.00am Cost:  R85 Refreshments will be served.