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Growthpoint-Investec JV secures its first two deals

Announcement imminent as it emerges as the suitor of Hyprop and Attacq's retail properties in Ghana and Zambia. Growthpoint and Investec Asset Management announced their pan-African real estate investment joint venture backed by the World Bank's International Finance Corporation investment arm more than three-and-a-half years ago. Its first deals have now been secured and are about to be revealed. The venture, dubbed Growthpoint Investec African Properties (Giap), has emerged as the suitor of AttAfrica's retail properties in Ghana and Zambia, which are jointly owned by JSE-listed real estate investment trusts (Reits) Hyprop and Attacq, together with other minority shareholders. Growthpoint Properties SA CEO Estienne de Klerk confirmed to Moneyweb on the sidelines of the South African Property Owners Association (Sapoa) Convention in Cape Town last week that the first two deals as part of Giap have been secured.

How to run your virtual business

If you're looking to start or run a lean, agile company on a tight budget, becoming a virtual business might be the right fit for you..

BUSINESS MAVERICK: To retrench or not retrench — that is the question

Regrettably, for the local industry, retrenchments may be the only solution for rescuing a cash-strapped business facing a tough economic climate. It could be the difference between a couple of job losses and the closure of the organisation as a whole, which will leave a lot more people unemployed. But this is by no means an easy decision or process for that matter, and in some cases, experts say it could even be the wrong one..

Business Maverick: South Africa Working on New Oil and Gas Policy to Enable Growth

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BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listing

Naspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE's indexes, but fund managers are concerned the effect could, in fact, be the opposite. --.

The Role of Business in Society

In this era of significant social, environmental, and political challenges, businesses have an opportunity to play a bigger role in shaping society and addressing vital issues such as economic inequality. Yet, while we expect companies to balance their sustainable goals and financial performance objectives, do companies really understand their licence to operate - or is the bottom line simply about making a profit? This thought-provoking episode of The Interchange is made possible by Absa and Tshimong .    .

BUSINESS MAVERICK OP-ED: Bold policies needed to pull poorest countries out of mire

The global economic mood is souring. At their meeting in Fukuoka, Japan, earlier in June, G20 finance ministers and central bank governors warned that economic growth remains weak, with risks still tilted to the downside. Just a few days before that gathering, the World Bank had lowered its 2019 global growth forecast to 2.6% - the lowest rate in three years - and predicted that growth would remain tepid in 2020-2021.

BUSINESS MAVERICK: To retrench or not retrench — that is the question

The World Economic Forum says about half of today's core jobs — making up the bulk of employment across industries — will remain stable in the period up to 2022. (Image sources: Icons/Flickr) Regrettably, for the local industry, retrenchments may be the only solution for rescuing a cash-strapped business facing a tough economic climate. It could be the difference between a couple of job losses and the closure of the organisation as a whole, which will leave a lot more people unemployed.

BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listing

Naspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE's indexes, but fund managers are concerned the effect could, in fact, be the opposite. --.

BUSINESS MAVERICK OP-ED: Horticulture is blooming, but there's still room for growth

Horticulture has boosted employment in the agricultural sector, which needs to be more focused on exporting to untapped markets. The expansion in most agricultural subsectors in South Africa has been export-driven, particularly in the horticultural sector. This sector is labour-intensive, and the expansion also brought jobs.

EBay and Target dig at Amazon ahead of Prime Day: Marketer's Brief

Welcome to the latest edition of Marketer's Brief, a quick take on marketing news, moves and trends from Ad Age's reporters and editors. Send tips/suggestions to eschultz@adage.com .   It might not be Christmas in July, exactly, but Amazon's Prime day has emerged as a major retail force.

The Role of Business in Society

In this era of significant social, environmental, and political challenges, businesses have an opportunity to play a bigger role in shaping society and addressing vital issues such as economic inequality. Yet, while we expect companies to balance their sustainable goals and financial performance objectives, do companies really understand their licence to operate - or is the bottom line simply about making a profit? This thought-provoking episode of The Interchange is made possible by Absa and Tshimong . Share this: Related.

BUSINESS MAVERICK INVESTIGATION: Video Surveillance and Cybersecurity (Part Two): Chinese cyber espionage is a real threat

Chinese surveillance giant Hikvision has sold thousands of security cameras in South Africa and soon Joburg's suburbs will see an unprecedented increase of Hikvision's presence. But their products, along with Huawei and ZTE, face a ban in the United States following rising fears of Chinese cyber espionage. Unlike the US, however, South Africa's State Security Agency - with its own shady past - has enjoyed a close relationship with China's security forces.

OUR BURNING PLANET: Fuel most Foul: The Purgatory Times for Sasol and other oil majors

As the ravages of climate breakdown barrel at exponential speeds across the planet, the fossil fuel conglomerates are facing unprecedented pushback. The anger is mostly coming from teenagers, who will bear the brunt of the devastation. But the protests are being supported by rising calls for fossil fuel executives to be tried for crimes against humanity, by strident shareholder activism and by revelations of the size of the subsidies that governments around the world are granting to the oil majors.

BUSINESS MAVERICK: Bullion's current tear offers scant golden opportunity for South African producers

Bullion's spot price is on the up, hitting six-year highs on the prospect of lower US interest rates and rising tensions between Washington and Tehran — a winning combination for gold bulls. South African producers of the precious metal should see rising profits as a result, but there is no golden opportunity for an industry in a serious state of decline. And the ultimate costs to the South African economy may be high, given that Donald Trump's actions are helping to propel gold's run.

Life Healthcare dumps its Indian hospital group venture

Private hospital group Life Healthcare has concluded the sale of its stake in Indian hospital group Max Healthcare for R3.7bn, marking the final nail in the coffin for the disappointing venture. According to a Business Day report, analysts said the acquisition had weighed on earnings and drained Life management's time. Life Healthcare bought a 26% stake in Max Healthcare for R820m in 2011 and later increased its share in the business to 49.7% as part of efforts by then CEO Michael Flemming to branch out of South Africa , where a weak economy and job losses had led to a slowdown in demand for private health care.

Cell C to cut capex as S&P sounds alarm over debt woes

S&P Global Ratings has downgraded Cell C's debt rating further after the troubled mobile operator amended a private, R1.4-billion "airtime facility" agreement, which the rating agency described as being "tantamount to a selective default". In response, Cell C has said it is working on a "recapitalisation and other related transactions" to improve its liquidity and long-term competitiveness. This will include improving the efficiency of its network and reducing capital expenditure.

Cell C to cut capex as S&P sounds alarm over debt woes

S&P Global Ratings has downgraded Cell C's debt rating further after the troubled mobile operator amended a private, R1.4-billion "airtime facility" agreement, which the rating agency described as being "tantamount to a selective default". In response, Cell C has said it is working on a "recapitalisation and other related transactions" to improve its liquidity and long-term competitiveness. This will include improving the efficiency of its network and reducing capital expenditure.

How to run your virtual business

If you're looking to start or run a lean, agile company on a tight budget, becoming a virtual business might be the right fit for you..

Markus Jooste must pay back R870m: Steinhoff

Steinhoff International  is claiming more than R1 billion from its former chief executive officer (CEO), Markus Jooste , as well as former chief financial officer, Ben la Grange. In an unprecedented move, the furniture retailer is claiming R870 million from Jooste and an additional R272 million from la Grange for "unjustified enrichment". A legal document directly links Jooste and la Grange to false transactions and accounting irregularities that saw R200 billion wiped off Steinhoff's share value in December 2017.

South African Bond Auctions - Varushka Singh - RMB Global Markets

Varushka Singh, RMB Fixed Income and Currency Strategist keeps an eye on the weekly South African Bond Auctions as a good gauge for foreign and local investor appetite for government bonds. Here she discusses what we can expect..

It's Time to Embrace New Business Paradigms

BY Marilyn Dutlow 4 MINUTE READ Sustained business growth is more difficult than ever. Traditional business growth formulas are lacking, barriers to entry are disappearing, new players are breaking the rules, channels are proliferating and evolving, disruptors are being disrupted, markets are reaching maturity, trust and focus are fleeting, and the war for talent and the consumer is raging. Despite these growth challenges, many businesses still cling to old paradigms and behaviours.  Challenges aside, there is growth to be found; it lies in uncomfortable places.

Amplats surges 5.5% after forecasting an 80% leap in earnings

JOHANNESBURG - Anglo American Platinum (Amplats) surged almost 6percent after forecasting an 80percent leap in earnings for the six months to June on the back of the stronger platinum group metals (PGM) price. The miner, which is valued at R220billion, closed 5.5percent higher on the JSE yesterday at R862.45 a share after attributing the significant earnings jump primarily to an increase in the rand PGM basket price. Palladium and rhodium prices have lifted significantly since last year, helping local producers shrug off years of curtailment of capital investment that led to a jobs bloodbath.

Rama spreads account

The Hardy Boys (THB), in partnership with Wunderman Thompson and TMARC , has been awarded the Rama Spreads account, following a competitive pitch. "In response to the pitch brief, we honed in on unique consumer insights, and collaborated within the Wunderman Thompson group to leverage the skills and data insights needed to bring on the relevant partners required to provide the best solutions for client," says Geoff Paton, THB chief creative officer. "This approach led to great depth in terms of the work created and revealed a clear understanding of the challenges and opportunities that exist within the target audience." Comments Rob Laggar, RCL Foods marketing director, "We are delighted to appoint The Hardy Boys as a trusted partner to work on one of our newly acquired brands and one of South Africa's heritage brands, Rama, following a rigorous pitch process involving some of the industry's best strategic and creative agencies.

SEZ could revive manufacturing capacity in Vaal Triangle

An important attribute that South Africa can take away from the success of Special Economic Zones (SEZ) at a global level is the importance of collaboration between key public and private stakeholders to attract Foreign Direct Investment (FDI), boost economic growth and industrialisation. Although growth has been subdued for several years, there is still potential to open up opportunities for both small and established businesses while stimulating economic activity and creating much-needed jobs in the country. SEZs are key in helping us to develop a global competitive economy and achieve our industrial policy objectives.

‘Platinum Valley' SEZ in three months - Patel

JOHANNESBURG (miningweekly.com) - The legal entity for the Bojanala Platinum Valley Special Economic Zone (SEZ) in North West, which already has an investment pipeline in place, will be set up in the next three months, Trade and Industry Minister Ebrahim Patel promised on Tuesday evening. Fuel cell development is listed as the main focus of the Platinum Valley SEZ, which has also been earmarked for platinum recycling and additional autocatalyst manufacture. What Silicon Valley did for solid-state development in the US, Platinum Valley is being earmarked to do for platinum-catalysed fuel cells that provide zero-emitting, carbon-free energy to a world that is fighting to mitigate climate change.

Rand firmer as dollar falls on rate cut bets

Rand : Google Images The rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by US and eurozone central banks. At 0730 GMT the rand was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600. Selling in the dollar has accelerated since the U.S.

GLOBAL-MARKETS-Stocks gain as trade talk hopes rise, rate-cut pressure ebbs

* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh* Fed's Powell, Bullard temper July rate cut expectations * European stocks gain after CNBC fuels trade talk optimism * U.S. futures point to strong open (Recasts to reflect optimism in global stocks, adds quote) By Virginia Furness LONDON, June 26 (Reuters) - European stocks and U.S. equity futures were higher on Wednesday after a report fuelled optimism about progress in U.S.-China trade talks, offsetting disappointment about the size of potential U.S.

EOH joins AWS Well-Architected Partner Programme

EOH has joined the Amazon Web Services (AWS) Well-Architected Partner Programme to gain the expertise needed to help AWS customers build solutions, implement best practices, audit workloads, and make improvements to their cloud environments at scale. The company is part of a select number of AWS Partner Network (APN) Partners in South Africa to have joined the programme. EOH has been an APN Partner since 2017, and has invested in its skills and offerings to better provide deep AWS knowledge and hands-on experience to its customers.

'Prescribed assets implementation will have serious implications for members'

The ANC in its election manifesto earlier this year said it would investigate using prescribed assets to help foster inclusive economic growth. However, Alexandra Forbes says some of its pension fund members have indicated that they would withdraw from the retirement fund or reduce their contribution if prescribed assets became official government policy. Alexander Forbes principal investment consultant Janina Slawski says if people feel that something is happening with the retirement fund that is not good for them, they will potentially withdraw their money.

MultiChoice restructuring staff as customers prefer digital over in-person

MultiChoice South Africa confirms that it is has commenced with the consultation process announced last week as part of the Video Entertainment company's realignment of its Customer Care (call centre) and Walk-in-Centres. MultiChoice announced that the two sections of the business would be realigned in response to the changing behaviour of its customers, who are increasingly moving away from traditional voice calls and visits to Walk-in Centres and adopting new self-service and digital technologies to engage with the company. The company has entered into a consultation process with 2 194 of its employees within Customer Care (call centre) and the Walk-in Centres.

Exxaro Says Eskom Woes To Hit Coal Production

South African miner Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday. It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply.

PPC appoints new CEO

JOHANNESBURG, June 26(ANA) - South Africa's largest cement maker PPC on Tuesday announced that it has appointed Roland van Wijnen as Chief Executive Officer (CEO) following a global search. ANA NEWS WIRE Disclaimer: The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality. ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video.

Trump says he would impose additional tariffs on China -Fox Business

(Adds details, background) WASHINGTON, June 26 (Reuters) - U.S. President Donald Trump said on Wednesday he would impose additional tariffs on China if he did not reach a trade deal with Chinese leader Xi Jinping. "I would do additional tariffs, very substantial additional tariffs, if that doesn't work, if we don't make a deal," Trump said in an interview with Fox Business Network. He left open the possibility that the two leaders could make a deal to avert further tariffs at the G20 summit in Japan this weekend. China and the United States have been embroiled in trade tensions marked by tit-for-tat tariffs but talks between the two countries broke down in May. Trump said in the interview China knows what the United States needs to have for a trade deal to go through. Trump said if Washington was unable to reach a trade deal with Beijing, his plan was to reduce business with China.

Nigeria/Guinea: Paul Put Has Unfinished Business With Nigeria

Photo: AFCON/Google Nigeria eye spot knockout round against Guinea. Nigeria will go into their Group B match against Guinea's Syli Nationale at Alexandria Stadium today knowing a win will guarantee them a place in the Round of 16. The Super Eagles opened their campaign with a slender 1-0 victory over Burundi, despite dominating the match and having over 10 shots on… Read more on AllAfrica.com South Africa Today Africa - West Africa Guinea News Disclaimer: The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today.

Jobs increase recorded in non-agricultural business sector

Jobs in the formal non-agricultural business sector increased by 22,000 in the first quarter of 2019, results of the Quarterly Employment Survey (QES) have revealed. Compiled by Statistics South Africa (Stats SA), the report reveals that jobs in the sector had in the quarter risen from 10,152,000 to 10,174,000. "This was largely due to increases in the following industries: community services (19,000 or 0.7%), mining and quarrying (6,000 or 1.3%), manufacturing (5,000 or 0.4%) and business services (5,000 or 0.2%).

BRIEF-Brimstone Investment Says Co's Shareholding In Oceana To Increase From 22.88% To 23.99%

June 26 (Reuters) - Brimstone Investment Corporation Ltd BRTJ.J :* NEWSHELF 1064 RF PROPRIETARY ENTERED INTO CONDITIONAL AGREEMENT TO BUY FURTHER 1.5 MILLION OCEANA SHARES FROM TIGER BRANDS * DEAL REPRESENTS ABOUT 1.11% OF TOTAL OCEANA SHARES IN ISSUE, WILL INCREASE CO'S SHAREHOLDING IN OCEANA FROM 22.88% TO 23.99% * CONSIDERATION PAYABLE FOR TRANSACTION WILL BE R104.9 MILLION * PURCHASE CONSIDERATION TO BE SETTLED BY NEWSHELF 1064 FROM AVAILABLE FACILITIES AND ADDITIONAL FUNDING TO EXTENT REQUIRED.

What are the best ways to find your business niche?

Identification of business niche is very important to attract the right set of audience on the web. It is important for a business to realize that it is not possible to please everyone. At some point in time, you will need to set up yourself as an entrepreneur who is his own boss.

Kirsh, Oppenheimer, Rupert dominate Africa's latest Rich List

THERE'S a saying that you need money to make money, but Africa's richest man bucks that trend. Aliko Dangote, of Nigeria , is a self-made billionaire, as the fifth richest African, eSwatini's Natie Kirsh . Also in the top five is cement and engineering owner Nassef Sawiris, scion of a wealthy Egyptian family.

New mall in Bulgaria part of Hyprop strategy

CAPE TOWN Hystead which is 60percent owned by JSElisted Hyprop Investments has completed the 12000m² extension to The Mall of Sofia in Bulgaria.  In line with Hyprops strategy to own shopping centres that dominate in terms of size The Mall of Sofias twolevel extension would add 40 new stores to 222 in total making it the second largest shopping centre in Bulgaria at 62000m². Hyprop chief executive Morné Wilken said yesterday that the successful opening of the mall extension in Sofia was important for Hystead as it demonstrated its ability to execute its investment strategy to focus on fewer but high quality large dominant shopping centres that deliver sustainable returns.  The upgrade was expected to create a preferred location for local and international brands. The surrounding node consists of highrise office and residential complexes with more development under way.

UPDATE 1-S.Africa's rand firmer as trade talk hopes rise, stocks edge up

* Rand rises on U.S-China trade progress * Stocks tread water (Update prices) JOHANNESBURG, June 26 (Reuters) - South Africa's rand firmed on Wednesday as risk appetite improved after comments from the U.S. Treasury Secretary suggesting progress in a trade deal with China, offsetting disappointment about the size of potential U.S. interest rate cuts.

HISTORY: How Whites Lynched Black Business Owners To Kill The Competition

Last week during the House Judiciary Committee's Subcommittee hearing about H.R. 40 and reparations, economist, author, political commentator and former president of Bennett College Julianne Malveaux reminded America of the many ways its dark history of racial violence against Black people continues to affect the group's future. "In Wilmington North Carolina, Republicans and Black people came [ ] The post appeared first on Moguldom..

Views on Eskom post SONA - Kate Rushton - RMB Global Markets

According to Kate Rushton, RMB Credit Analyst the SoNA, provided little additional clarity on the plan for Eskom. It was, however, strong on commitment. While there is no change to the R230bn total funding of over ten years announced in February, a special bill will be passed urgently to accelerate the timing of fiscal support..

Business robbers traced and arrested in the north

Two armed men were traced and arrested following a business robbery that happened in Soshanguve on Monday evening. The victim, who works at the shop, alleged that he went outside the shop at around 20:15 when he was confronted by three unknown men, police spokesperson Constable Portia Sebone said. "One of the men took out a firearm and forced him back inside the shop.

UPDATE 1-S.Africa's rand firmer as trade talk hopes rise, stocks...

* Rand rises on U.S-China trade progress * Stocks tread water (Update prices) JOHANNESBURG, June 26 (Reuters) - South Africa's rand firmed on Wednesday as risk appetite improved after comments from the U.S. Treasury Secretary suggesting progress in a trade deal with China, offsetting disappointment about the size of potential U.S. interest rate cuts. Stocks rose marginally but were held back as bullion shares came under pressure.

SA pensions seen at risk

(Bloomberg) -- A plan mooted by South Africa's ruling African National Congress to force retirement funds into investing in specific state-owned companies or government projects could leave pensioners poorer. The ANC in its election manifesto earlier this year said it would investigate using prescribed assets to help foster inclusive economic growth, fund social improvements and diversify the finance industry. A lack of detail as to how this could materialize since it was accepted at the party's policy conference in 2017 has stoked concerns that this could mean forced investments to prop up the country's cash-strapped state-owned companies.

WATCH: French National Assembly expected to declare 'climate emergency'

Gordhan says SOEs in dire straits, threatens boards and CEOs with intervention We were pressured to cancel Mumbai-Johannesburg route, former SAA CEO tells inquiry There was a breakdown in good governance under Gigaba, inquiry hears EFF: Land question must be final by year end, with all land in state's custody Steinhoff wants Markus Jooste to pay back R870m - report 10 questions that explain the battle for the Reserve Bank Solly Moeng: Put your foot down, Ramaphosa Business body on SONA: Wake up and smell the Eskom crisis, Mr President EFF loses appeal bid in Trevor Manuel defamation case Steinhoff announces loss of almost R20bn for 2018 Company Snapshot Follow Fin24 Money Clinic Do you have a question about your finances? We'll get an expert opinion. Voting Booth An SA waitress made headlines when she received a R20 000 tip and then had to return it. What's your view? Once the tip is given you shouldn't be able to claim it back You can't realistically expect to keep a R20 000 tip SA should include service charges in the bill - then there's no need for tips Once the tip is given you shouldn't be able to claim it back 39% 111 votes 39 You can't realistically expect to keep a R20 000 tip 36% 103 votes.

Stock Pick — BAT

Nesan Nair from Sasfin Securities chose British American Tobacco as his stock pick of the day and Wayne McCurrie from FNB Wealth & Investments did not have a stock pick this week..

Business News - 26 June 2019

No quick fixes says Ramaphosa, Audit outcomes for SA's municipalities continues to decline and at the eleventh hour, Denel salaries will be paid in full..

Editing Allowed - 26 June 2019

On the show this week: the dire state of our municipalities and their impact on doing business in SA; and how Steinhoff is looking to claw back millions from former CEO, Markus Jooste..

There are now more dollar millionaires in Stellenbosch and Paarl than in the whole of Pretoria

This Franschhoek smallholding is currently in the market for R42 million. A new report shows that that there are almost 3,000 dollar millionaires in Franschhoek, Paarl and Stellenbosch. Photo: Property24/Seeff Durban, Ballito and Umhlanga have seen the strongest growth in wealth over the past decade, a new report shows.  The Western Cape towns of Stellenbosch, Franschhoek and Paarl now host more than 3,000 dollar millionaires - compared to only 2,700 in Pretoria.

Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi

(Adds halt to trade secrets lawsuit) By Allison Lampert and Debroop Roy June 25 (Reuters) - Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation. Montreal-based Bombardier has been selling off its weaker-performing commercial plane programs aimed at airlines to focus on profitable business jets and passenger rail cars. The company faced a cash-crunch in 2015 while bringing a larger narrowbody jet to market. The deal, which Bombardier said was completed at 6:30 a.m. ET (1030 GMT) on Tuesday, is expected to close in the first half of next year. Under the agreement, the Japanese firm will take over $200 million in liabilities, but receive Bombardier's estimated $180 million interest in a financing structure it created to support aircraft leasing. In an interview, Bombardier Chief Executive Alain Bellemare said some proceeds would be used to reduce debt. "I'm not going to do the math, but that's clearly the game plan," he said by phone. The proceeds exceeded some analysts' expectations. "It generates a return better than we had anticipated and ends the company's exposure in a program which we believe was a drag on earnings," AltaCorp analyst Chris Murray said in a note. Bombardier has an additional $400 million liability from residual value guarantees provided to airlines on the regional jet program. Bellemare said he did not see a "problem" gaining regulatory approval. Jean-Luc Ferland, a spokesman for Canada's Innovation Minister Navdeep Bains, said details of the agreement will be reviewed "to ensure it benefits Canadians." Bombardier will continue to assemble its regional jet planes (CRJ), but will stop making the aircraft i

Meet The List

If you could change one thing about the advertising/marketing/media industry, what would it be? No, really. Three months ago, we posed this question to 31 thought leaders—all recent Ad Age Creativity , Women to Watch or 40 Under 40 honorees—from some of the most influential companies in the world.  We called the group The List and charged the members first with identifying the one industry challenge they wanted to fix and then spending the rest of 2019 coming up with a plan and concrete goals to accomplish this mission, with the power and resources of Ad Age and Facebook behind them. While many issues were top of mind for the VIPs we spoke with—from the need for diversity hiring and destigmatizing mental health problems to the urgency of climate change—one topic quickly emerged as central not just to the industry and society at large, but to many List members' personal lives: the lack of adequate family-forward leave.  The List found its mission, and went to work.

BUSINESS MAVERICK: Like the ANC, SA's biggest pension fund manager had two centres of power

The commission of inquiry into allegations of impropriety at the Public Investment Corporation is exploring how the money manager changed its executive structure to give the CEO and CFO more power to make investment decisions. Former PIC boss Dan Matjila occupied the role of both CEO and CIO, and Matshepo More held the CFO role. PIC staff called this the two centres of power.

Breedekloof Makers head to France to learn about Chenin

The Breedekloof wine region's pioneering Chenin blanc initiative, the Breedekloof Makers  is in its fourth year of bringing together like-minded winemakers committed to emphasizing the quality of wines being made in the region, as well as accentuating the diverse terroir pockets. Having grown from nine initial producers to twelve in 2018 and welcoming another three this year, really shows the region's commitment to Chenin blanc. The five female winemakers of the Breedekloof, Lieza van der Merwe (Merwida), Annamarie van Niekerk (Botha Cellar), Ivy du Toit (Jason's Hill), Mariette Stofberg-Coetzee (Le Belle Rebelle) and Elizma Visser (Olifantsberg), will be traveling to the Loire Valley in France together with two thorns among the roses, winemakers WS Visagie (UniWines) and Francois Joubert (Du Preez Estate).

GLOBAL MARKETS-Asia stocks slip after Fed tempers aggressive rate cut...

* Asian stock markets: https://tmsnrt.rs/2zpUAr4* Fed's Powell, Bullard temper July rate cut expectations * Dollar crawls up from 3-month lows on Fed officials' commentsBy Shinichi Saoshiro TOKYO, June 26 (Reuters) - Asian stocks slipped on Wednesday and the dollar pulled back from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. Fed Chair Jerome Powell on Tuesday said the central bank is "insulated from short-term political pressures," pushing back against U.S. President Donald Trump's demand for a significant rate cut. Powell, however, said Fed policymakers are wrestling with whether uncertainties around U.S.

PIC to take disciplinary action against staff over R4bn Ayo deal

The Public Investment Corporation (PIC), which manages more than R2-trillion in government employees' pension money and other government funds, is poised to take disciplinary action against 11 staff members for their part in the decision to invest more than R4bn in Ayo Technologies. The recommendation, in an internal PIC report verified by Business Day, comes as the fallout from the organisation's decision to take part in Ayo's initial public listing in December 2017 at an inflated valuation, continues to bedevil Africa's biggest fund manager. If you are already a subscriber, please click on the following link to go to the full article: PIC to act against staff over Ayo deal If you would like to subscribe to BusinessLIVE to read the full story, please click here..

Business Maverick: For First Time Ever, Renewables Surpass Coal in U.S. Power Mix

Hydropower dams, solar panels and wind turbines generated almost 68.5 million megawatt-hours of power in April, eclipsing the 60 million that coal produced that month, Energy Information Administration  data  released late Tuesday show. That's the most clean power the U.S. has ever made — and the least coal it has burned for power in years.

Applications for new positions during a retrenchment - selection criteria or a measure to avoid retrenchment?

By Aadil Patel, Director, Anli Bezuidenhout, Senior Associate and Dylan Bouchier, Candidate Attorney, Employment Law, Cliffe Dekker Hofmeyr The latest case in determining fair and objective methods of selecting employees for dismissal during a retrenchment process has struck fear in the hearts of employers who plan on embarking on retrenchment processes. In Mweli and Nakedi v MTN Group Management Services (Pty) Ltd, the respondent dismissed two applicants following a restructuring process of its Group Business Risk Management division. In an effort to improve the efficiency of this division, a new structure with more positions available was adopted. Through a scientific tool known as competence mapping, a process which indicates knowledge and skill was used to compare old positions to new positions.

Sharks shine at Under-13 Craven Week

The Sharks, Phakisa Pumas, DHL Western Province and Bidvest Waltons Golden Lions showed great intent on Day Two of the Under-13 SA Rugby Craven Week at HS Rob Ferreira in White River on Tuesday, earning impressive wins. The Sharks and DHL WP produced the most dazzling efforts, with the KwaZulu-Natal side getting nine tries in a seamless win against EP Elephants, while the Cape side scored some sensational tries in their seven-try win against Forever Resorts Limpopo Blue Bulls. The Gauteng side and the hosts also played constructive rugby, which nudged them to their second victories in as many days.

Suspended PIC CFO says involvement in Ayo deal ‘exaggerated'

Matshepo More, now suspended CFO of the PIC, has strongly distanced herself from the irregular processes that led to the approval of the Ayo Technology Solutions transaction. The inquiry heard on Tuesday how More stopped the disbursement of funds in the Ayo transaction and ensured that PIC processes were complied with before the money for the multi-billion rand transaction was released. The inquiry has heard how the Ayo transaction was in many respects a "foregone conclusion".

NORTHAM PLATINUM LIMITED - Northam approves Kukama Project at Eland mine

Wrap Text Northam approves Kukama Project at Eland mine NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) JSE share code: NHM ISIN code: ZAE000030912 Debt issuer code: NHMI Bond code: NHM002 Bond ISIN: ZAG000129024 Bond code: NHM006 Bond ISIN: ZAG000158577 Bond code: NHM007 Bond ISIN: ZAG000158593 Bond code: NHM008 Bond ISIN: ZAG000158858 Bond code: NHM009 Bond ISIN: ZAG000158866 Bond code: NHM010 Bond ISIN: ZAG000159229 Bond code: NHM011 Bond ISIN: ZAG000159237 Bond code: NHM012 Bond ISIN: ZAG000160136 ("Northam" or the "company" or the "group") NORTHAM APPROVES KUKAMA PROJECT AT ELAND MINE Northam is pleased to advise its shareholders that mining operations at the Kukama shaft situated at its Eland mine complex will recommence in the new financial year (F2020). This significant development comes after the successful conclusion of a feasibility study for the Kukama project. Background Northam purchased a 100% interest in the Eland mine from Glencore Operations South Africa Proprietary Limited in February 2017 for a cash consideration of R175 million. Eland mine was placed on care and maintenance in 2015 and Northam continued to manage it as such whilst undertaking the feasibility study for the Kukama shaft. In terms of the transaction, Northam acquired all of Eland mine's assets which included: • Eland's two mining rights with a resource currently estimated at 19.3 Moz 4E at an average in situ grade of 3.95 g/t; • surface and underground infrastructure including a concentrator with a nameplate capacity of 250 ktpm; a chrome spiral recovery plant; a tailings storage facility; two decline systems; and surface support infrastructure; • immovable property; and • a mining fleet in excess of 100 vehicles, which includes low profile mechanised mining equipment. Key conclusions from the Kukama shaft feasibility study • Steady state production of 150 Koz pa 4E, at unit costs in

PIC's Matshepo More defends AYO investment

CAPE TOWN - Matshepo More, the suspended acting chief executive and chief investment officer at the Public Investment Corporation (PIC), yesterday put up a strong defence for the asset managers' processes when considering the investment in AYO Technology Solutions. More, who was testifying at the Commission of Inquiry into alleged improprieties at the PIC, did not crack, even after a barrage of questions were fired at her by the evidence leader, Advocate Jannie Lubbe, the commissioner Judge Mpati, and the assistant commissioners Jill Marcus and Emanuel Lediga. She did, however, concede that there were some steps in the processes that were overlooked, related to the delegation of authority among others, but said these were not isolated to just a single transaction or company.

Business builds bridges between Nigeria, South Africa

Nigeria , South Africa intensify economic co-operation by MTHULISI SIBANDA JOHANNESBURG, (CAJ News) - SOUTH Africa and Nigeria - the continent's biggest economies and sometimes bitter enemies - have an opportunity to build a vital relationship to the benefit of both countries. This follows the hosting of the South Africa - Nigeria Investment Conference where business leaders from both countries met to discuss a range of issues related to trade, investment and business requirements, with a specific focus on the Nigerian market. The South Africa - Nigeria Business Chamber hosted the event as part of its mandate to build bridges between the two countries.

SE Asia Stocks-Most markets slip as Fed curbs dovish enthusiasm

* Thai central bank policy decision awaited * Indonesia up for 2nd day, Philippines top loser By Shreya Mariam Job June 26 (Reuters) - Most Southeast Asian stock markets slipped on Wednesday as comments from U.S. Federal Reserve officials curbed rate-cut enthusiasm. Fed officials on Tuesday pushed back on market expectations and presidential pressure for the central bank to deliver a significant rate cut of half a percentage point as soon as its next meeting.

CURRO HOLDINGS LIMITED - Appointment Of Acting Company Secretary

COH 201906260018A Appointment Of Acting Company Secretary Curro Holdings Limited Incorporated in the Republic of South Africa (Registration number: 1998/025801/06) JSE Share Code: COH ISIN: ZAE000156253 (‘Curro' or ‘the Company') APPOINTMENT OF ACTING COMPANY SECRETARY In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, the board of directors of the Company (‘the Board') wishes to advise that Mr Ruan Werner Botha (‘Mr Botha') has been appointed as acting Company Secretary of Curro with effect from 1 July 2019. Mr Botha has been employed by Curro for four years and holds an LLM degree in commercial law. Mr Botha will act as acting Company Secretary for a limited period until a full time Company Secretary is appointed. On 6 June 2019, an announcement was made on SENS advising that Ms Dimakatso Sylvia Kutu (‘Ms Kutu') had been appointed as Company Secretary with effect from 1 July 2019. Ms Kutu will not be taking up the appointment. Durbanville 26 June 2019 Sponsor PSG Capital Date: 26/06/2019 08:30:00 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.

South African Markets - Factors to watch on June 26

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS - No major economic events. COMPANIES - PPC PPCJ.J Full Year 2018 Earnings Release. - Sephaku Holdings SEPJ.J Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETSSouth Africa's rand firmed on Tuesday as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency, which in turn supported developing world currencies. Stocks fell as investor anxiety mounted over this week's U.S.-China trade talks at the G20 Summit. .J ZAR/ GLOBAL MARKETS Asian stocks dipped on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.

EXXARO RESOURCES LIMITED - EXX - Finance Director's Pre-close Message: Six-months ending 30 June 2019

EXX 201906260001A EXX - Finance Director's Pre-close Message: Six-months ending 30 June 2019 EXXARO RESOURCES LIMITED Incorporated in the Republic of South Africa (Registration Number: 2000/011076/06) JSE share code: EXX ISIN: ZAE000084992 ADR code: EXXAY (‘Exxaro' or the ‘Company') FINANCE DIRECTOR'S PRE-CLOSE MESSAGE Six-months ending 30 June 2019 (1H19) (‘the period') Dear stakeholder, This is an overview of the group's expected business performance for the period, encompassing strategic, operational and financial information. Unless otherwise indicated, all comparisons are against the six-month period ended 31 December 2018 (2H18). Zero Harm remains Exxaro's key business objective. In the period we maintained a year-to-date lost-time injury frequency rate (LTIFR) of 0.12 (FY18: 0.12), still above our target of 0.11. We have done better in previous years and remain confident that we will improve on this through ongoing safety initiatives. We are pleased to report zero (0) fatalities for a period of 27 consecutive months as at 31 May 2019 and zero (0) ‘High Potential Incidents' (HPI's) so far during 1H19 (1H18: 5HPI's). Towards the end of 1H19 the US-China trade tension continued to escalate and weighed on global market sentiment.

CAPITEC BANK HOLDINGS LIMITED - Quarterly Disclosure In Terms Of Regulation 43 Of The Regulations Relating To Banks

Wrap Text Quarterly Disclosure In Terms Of Regulation 43 Of The Regulations Relating To Banks Capitec Bank Holdings Limited Registration number: 1999/025903/06 Registered bank controlling company Incorporated in the Republic of South Africa JSE ordinary share code: CPI ISIN code: ZAE000035861 JSE preference share code: CPIP ISIN code: ZAE000083838 ("Capitec") QUARTERLY DISCLOSURE IN TERMS OF REGULATION 43 OF THE REGULATIONS RELATING TO BANKS Capitec and its subsidiaries ("group"), have complied with Regulation 43 of the Regulations relating to banks, which incorporates the requirements of Basel. In terms of Pillar 3 of the Basel rules, the consolidated group is required to disclose quantitative information on its capital adequacy and liquidity ratios on a quarterly basis. The group's consolidated capital and liquidity positions at the end of the first quarter for the 29 February 2020 financial year end are set out below: 1st Quarter 2020 4th Quarter 2019 31 May 2019 28 February 2019 Capital Capital Adequacy Adequacy R'000 Ratio % R'000 Ratio % Common Equity Tier 1 capital (CET1) 21 585 401 31.5 20 911 742 32.8 Additional Tier 1 capital (AT1)(1) 77 691 0.2 77 691 0.1 TIER 1 CAPITAL (T1) 21 663 092 31.7 20 989 433 32.9 Unidentified loan impairments 642 200 624 762 TIER 2 CAPITAL (T2) 642 200 0.9 624 762 1.0 TOTAL QUALIFYING REGULATORY CAPITAL 22 305 292 32.6 21 614 195 33.9 REQUIRED REGULATORY CAPITAL(2) 7 870 871 7 327 549 (1)Starting 2013, the non-loss absorbent AT1 and T2 capital is

Glencore cuts out agents and dealmakers as scrutiny grows

25TH JUNE 2019 BY: BLOOMBERG SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ LONDON - Glencore is cutting out many of its intermediaries - the agents and dealmakers once essential to cracking the toughest markets - amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading agents, according to people familiar with the situation. To continue operating, the company is setting up teams in some countries, said the people, asking not to be named as the matter is private. In other places, Glencore is still using agents who pass strict compliance tests and have a clear role. ADVERTISEMENT Glencore has long relied on intermediaries, who work on commission.

INVESTEC PROPERTY FUND LIMITED - Investec Property Fund Limited Redemption of Capital and Interest Payment Notification - IP

IPF09 201906260022A Investec Property Fund Limited Redemption of Capital and Interest Payment Notification - IPF09 Investec Property Fund Limited Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration Number 2008/011366/06) (‘Investec Property Fund' or ‘the Fund') JSE Code:IPF09 ISIN Code:ZAG000117086 Redemption of Capital and Interest Payment Notification - IPF09 Noteholders are advised that Investec Property Fund Limited confirm the payments that are to be made in respect of the Interest Period starting 01-Apr-2019 and ending 30-Jun-2019. The Payment Date shall be on 01-Jul-2019. JSE Code: IPF09 ISIN Code: ZAG000117086 Nominal Amount: R250,000,000.00 Redepmtion Amount: R250,000,000.00 Interest Payment: R5,516,095.89 Total Amount Due: R255,516,095.89 Nominal Amount Outstanding: R0.00 Dated: 26-Jun-2019 Sponsor - Investec Bank Limited (‘Investec') Date: 26/06/2019 09:06:00 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..

Business Maverick: Trump and Xi to Seal a Deal? Traders Aren't Holding Their Breath

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

SIBANYE GOLD LIMITED - Strategic acquisition agreement with Generation Mining to further its Marathon project

Wrap Text Strategic acquisition agreement with Generation Mining to further its Marathon project 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 enters into a strategic acquisition agreement with Generation Mining to further its Marathon project Johannesburg, 26 June 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) is pleased to advise that it has entered into an acquisition agreement ("the agreement") with Generation Mining Limited ("Gen Mining") to further the development of the PGM- copper Marathon project, situated in northern Ontario, Canada, adjacent to Lake Superior ("Marathon" or the "Marathon project"). The Marathon project was acquired by Sibanye-Stillwater as part of the Stillwater acquisition in May 2017. The agreement sees Sibanye-Stillwater receive upfront proceeds in the form of 3.0 million Canadian dollars (CAD$) in cash and 11,053,795 shares @ CAD$0.2714 per share in Gen Mining (an equity interest of 12.9% @ CAD$0.2714 per share) on closing of the agreement.

EXXARO RESOURCES LIMITED - EXX - Finance Director's Pre-close Message: Six-months ending 30 June 2019

Wrap Text EXX - Finance Director's Pre-close Message: Six-months ending 30 June 2019 EXXARO RESOURCES LIMITED Incorporated in the Republic of South Africa (Registration Number: 2000/011076/06) JSE share code: EXX ISIN: ZAE000084992 ADR code: EXXAY ("Exxaro" or the "Company") FINANCE DIRECTOR'S PRE-CLOSE MESSAGE Six-months ending 30 June 2019 (1H19) ("the period") Dear stakeholder, This is an overview of the group's expected business performance for the period, encompassing strategic, operational and financial information. Unless otherwise indicated, all comparisons are against the six-month period ended 31 December 2018 (2H18). Zero Harm remains Exxaro's key business objective.

NORTHAM PLATINUM LIMITED - Northam approves Kukama Project at Eland mine

NHM NHM002 NHM006 NHM007 NHM008 NHM009 NHM010 NHM011 NHM012 201906260004A Northam approves Kukama Project at Eland mine NORTHAM PLATINUM LIMITED Incorporated in the Republic of South Africa (Registration number 1977/003282/06) JSE share code: NHM ISIN code: ZAE000030912 Debt issuer code: NHMI Bond code: NHM002 Bond ISIN: ZAG000129024 Bond code: NHM006 Bond ISIN: ZAG000158577 Bond code: NHM007 Bond ISIN: ZAG000158593 Bond code: NHM008 Bond ISIN: ZAG000158858 Bond code: NHM009 Bond ISIN: ZAG000158866 Bond code: NHM010 Bond ISIN: ZAG000159229 Bond code: NHM011 Bond ISIN: ZAG000159237 Bond code: NHM012 Bond ISIN: ZAG000160136 (‘Northam' or the ‘company' or the ‘group') NORTHAM APPROVES KUKAMA PROJECT AT ELAND MINE Northam is pleased to advise its shareholders that mining operations at the Kukama shaft situated at its Eland mine complex will recommence in the new financial year (F2020). This significant development comes after the successful conclusion of a feasibility study for the Kukama project. Background Northam purchased a 100% interest in the Eland mine from Glencore Operations South Africa Proprietary Limited in February 2017 for a cash consideration of R175 million. Eland mine was placed on care and maintenance in 2015 and Northam continued to manage it as such whilst undertaking the feasibility study for the Kukama shaft. In terms of the transaction, Northam acquired all of Eland mine's assets which included: • Eland's two mining rights with a resource currently estimated at 19.3 Moz 4E at an average in situ grade of 3.95 g/t; • surface and underground infrastructure including a concentrator with a nameplate capacity of 250 ktpm; a chrome spiral recovery plant; a tailings storage facility; two decline systems; and surface support infrastructure; • immovable property; and • a mining fleet in excess of 100 vehicles, which includes low profile mechanised mining equipment. Key conclusions from the Kukama shaft feasibility study • Steady state production of 150 Koz pa 4E, a

WOOLWORTHS HOLDINGS LIMITED - WHLI - Interest Payment Notifications in respect of Listed Notes under the DMTN Programme

Wrap Text WHLI - Interest Payment Notifications in respect of Listed Notes under the DMTN Programme Woolworths Holdings Limited (Incorporated in the Republic of South Africa) Registration number: 1929/001986/06 Bond company code: WHLI ("WHL") INTEREST PAYMENT NOTIFICATIONS IN RESPECT OF LISTED NOTES UNDER THE DMTN PROGRAMME Senior Unsecured Floating Rate Noteholders, in terms of WHL's Domestic Medium Term Note Programme ("DMTN Programme") dated 17 March 2017, are advised of the following interest payments: Instrument Code: WHL02 ISIN: ZAG000154485 Interest Rate: 8.508% Interest Period: 2 April 2019 to 1 July 2019 Interest Amount Due: ZAR 11 390 696.88 Payment Date: 2 July 2019 Business Day Convention: Following Business Day Instrument Code: WHL03 ISIN: ZAG000154477 Interest Rate: 8.698% Interest Period: 2 April 2019 to 1 July 2019 Interest Amount Due: ZAR 10 040 351.62 Payment Date: 2 July 2019 Business Day Convention: Following Business Day Instrument Code: WHL01 ISIN: ZAG000147133 Interest Rate: 8.568% Interest Period: 10 April 2019 to 9 July 2019 Interest Amount Due: ZAR 16 020 986.30 Payment Date: 10 July 2019 Business Day Convention: Following Business Day 26 June 2019 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 26/06/2019 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.

Exxaro blames Medupi power station for lower coal production

Exxaro Resources says coal production volumes are expected to fall 5% in the six months to end-June mainly because of reduced demand from Eskom's Medupi power station. Eskom's dire financial position is said to be largely the result of massive cost overruns, lengthy delays and poor designs of its Medupi and Kusile power stations. "Commercially, the impact of the reduced Medupi volumes is mitigated due to the contractual agreement in place," Exxaro finance director Riaan Koppeschaar said. Exxaro expects to achieve higher export volumes in the six-month period, but "it is reasonable to assume that a weaker US dollar sales price per ton will be realised", Koppeschaar said. Coal capital expenditure for financial year 2019 is expected to be 9% lower than guided in March, mainly due to project delays. Exxaro moved back into the JSE's top-40 index this week, with a weighting of about 0.7%. hedleyn@businesslive.co.za.

South African Markets - Factors to watch on June 26

SEPHAKU:   193     0 (0.00%)   26/06/2019 00:00 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS - No major economic events. COMPANIES - PPC Full Year 2018 Earnings Release. - Sephaku Holdings Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETS South Africa's rand firmed on Tuesday as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency, which in turn supported developing world currencies. Stocks fell as investor anxiety mounted over this week's U.S.-China trade talks at the G20 Summit. GLOBAL MARKETS Asian stocks dipped on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. WALL STREET Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates. GOLD Gold prices slipped more than 1% on Wednesday, moving away from a six-year peak hit on the previous day, as U.S. Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Chief executive of new player TymeBank Shabalala quits four months in. - ANC prescribed assets plan could trigger funds exodus BUSINESS REPORT - Bank sector expands despite weak economy.

Aliwal North business burglary, two arrested

On 24 June 2019, at Midnight members attached to Aliwal North Detective Unit under the command of Lieutenant Colonel Mguqulwa conducted a successful operation focusing on a reported case of Business Robbery that have been perpetrated at a tuck shop situated at Grey street in Aliwal North. It is alleged that between 3 and 4 June 2019, the suspects broke into a shop and gained entrance through the roof whereby they stole valuable items. On 24 June 2019, upon acting on information received, two suspects aged between 19 and 28 were arrested and all the stolen property including cell phones, cell phone batteries and electrical equipment was recovered with an estimated value of R150 000,00.

PIC s Matshepo More defends AYO investment

Matshepo More concedes that there were procedural steps that were overlooked but said these were not isolated to just a single transaction or company..

SIBANYE GOLD LIMITED - Strategic acquisition agreement with Generation Mining to further its Marathon project

SGL 201906260014A Strategic acquisition agreement with Generation Mining to further its Marathon project 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 enters into a strategic acquisition agreement with Generation Mining to further its Marathon project Johannesburg, 26 June 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) is pleased to advise that it has entered into an acquisition agreement (‘the agreement') with Generation Mining Limited (‘Gen Mining') to further the development of the PGM- copper Marathon project, situated in northern Ontario, Canada, adjacent to Lake Superior (‘Marathon' or the ‘Marathon project'). The Marathon project was acquired by Sibanye-Stillwater as part of the Stillwater acquisition in May 2017. The agreement sees Sibanye-Stillwater receive upfront proceeds in the form of 3.0 million Canadian dollars (CAD$) in cash and 11,053,795 shares @ CAD$0.2714 per share in Gen Mining (an equity interest of 12.9% @ CAD$0.2714 per share) on closing of the agreement.

Business Maverick: Despite climate pledges, G20 coal subsidies rise

Despite promising a decade ago to phase out fossil fuel subsidies, the world's leading economies more than doubled subsidies to coal-fired power plants over three years, putting climate goals at risk, energy researchers said Tuesday. --.

CURRO HOLDINGS LIMITED - Appointment Of Acting Company Secretary

Wrap Text Appointment Of Acting Company Secretary Curro Holdings Limited Incorporated in the Republic of South Africa (Registration number: 1998/025801/06) JSE Share Code: COH ISIN: ZAE000156253 ("Curro" or "the Company") APPOINTMENT OF ACTING COMPANY SECRETARY In accordance with paragraph 3.59(a) of the JSE Limited Listings Requirements, the board of directors of the Company ("the Board") wishes to advise that Mr Ruan Werner Botha ("Mr Botha") has been appointed as acting Company Secretary of Curro with effect from 1 July 2019. Mr Botha has been employed by Curro for four years and holds an LLM degree in commercial law. Mr Botha will act as acting Company Secretary for a limited period until a full time Company Secretary is appointed. On 6 June 2019, an announcement was made on SENS advising that Ms Dimakatso Sylvia Kutu ("Ms Kutu") had been appointed as Company Secretary with effect from 1 July 2019. Ms Kutu will not be taking up the appointment. Durbanville 26 June 2019 Sponsor PSG Capital Date: 26/06/2019 08:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

Marcus says More equally to blame for PIC mess

Through most of Matshepo More's testimony, Gill Marcus asked her to give insight on what she knows about the running of the PIC and not to refer the commissioners to other employees. | JOHANNESBURG - Former Reserve Bank Governor and commissioner at the Public Investment Corporation (PIC) inquiry Gill Marcus has highlighted that former Chief Financial Officer Matshepo More failed to concede that she and former CEO Dan Matjila bore greater overall responsibility for what happened at the PIC because of the positions they held. More spent a second day on the stand at the PIC inquiry on Tuesday which has been looking into alleged impropriety at the corporation. She has given some explosive revelations including how Matjila signed off on the R4.3 billion payment to Ayo Technologies before consulting with the asset manager's portfolio management committee. Through most of More's testimony, Marcus asked her to give insight on what she knew about the running of the PIC and not to refer the commissioners to other employees. She said it was important for her to know where the responsibility lied. "Absolutely, there's no disagreement that everybody has a responsibility and accountability but there are some people who are more accountable than others because of the virtue of the position they hold.

TSOGO SUN HOTELS LIMITED - Directors dealings in securities

Wrap Text Directors' dealings in securities Tsogo Sun Hotels Limited (previously known as Southern Sun Hotels Proprietary Limited) Incorporated in the Republic of South Africa Registration number 2002/006356/06 Share Code: TGO ISIN:ZAE000272522 ("Tsogo Sun Hotels" or "Company") DIRECTORS' DEALINGS IN SECURITIES Shareholders are referred to the announcements released on the Stock Exchange News Service on 24 June 2019 by Tsogo Sun Holdings Limited regarding the sale of 29,581,618 Tsogo Sun Hotels shares by way of an accelerated bookbuild placing (the "Placing") to qualifying institutional investors at a price of R4.05 per ordinary share ("Placing Price"). In accordance with paragraphs 3.63 to 3.74 of the JSE Limited Listings Requirements, shareholders are advised that the following directors of the Company participated in the Placing: Director : Marcel von Aulock Title : Chief Executive Officer and Executive Director Name of Associate : Megalo Investments Pty Ltd Date of transaction : 24 June 2019 Company : Tsogo Sun Hotels Limited Total number of securities acquired : 617 300 Placing price : R4.05 Transaction value : R2 500 065 Nature of interest : Indirect beneficial Class of shares : Ordinary Nature of transaction : Acquisition through the Placing, off -market Clearance : Yes Director : John Anthony Copelyn Title : Non-executive Chairman Name of Associate : Ronaldgate Pty Ltd Date of transaction : 24 June 2019 Company : Tsogo Sun Hotels Limited Total number of securities acquired : 617 275 Placing price : R4.05 Transaction value : R2 499 963.75 Nature of interest : Indire

Northam to begin mining rhodium after concluding feasibility study for Kukama project

JOHANNESBURG Mining company Northam Platinum said on Wedneday operations at the Kukama shaft situated at its Eland mine complex would recommence in the new financial year after the successful conclusion of a feasibility study for the project.Northam purchased a 100 percent interest in the Eland mine situated in Brits in North West province from Glencore Operations South Africa in 2017 for R175 million. Eland mine situated on the southeastern limit of the western limb of the Bushveld Complex was placed on care and maintenance in 2015 and Northam continued to manage it as such whilst undertaking the feasibility study for the Kukama shaft.Eland has a 19.3 millionounce rhodiumrich resource and developed surface infrastructure.Northam forecasts investment returns comfortably in excess of its current weighted average cost of capital with positive free cash flow generated from the fourth year onwards and the creation of 2800 permanent jobs as the life of mine is in excess of 30 years.Whilst completing the feasibility study for Kukama and following positive feedback Northam commenced early work in preparation for its recommissioning which included refurbishing underground fixed and mobile equipment as well as sections of the concentrator.It also commenced processing of the tailings storage facility at the Eland mine.Northam said the next step was the conversion of the Kukama decline shaft into a footwall array that would start in the 2020 financial year along with limited early stoping. Strike development and stoping buildup is scheduled to commence in the 2021 financial year.Production is forecast to reach 100000 ounces per annum by 2025 and steady state production of 150000 per annum is forecast from 2029.Total developmental capital expenditure is estimated at R2.2 billion over a fiveyear period which includes a provision for working capital requirements during the development phase. The project will be fully funded from Northams own resources.Northam chief executive Paul Dunne said the proje

Nigerian tax case between MTN, attorney general adjourned

The case over the $2bn tax dispute has been adjourned to October 29. A Nigerian judge on Wednesday adjourned until October 29 a case to resolve a $2 billion tax dispute between South African telecoms company MTN Group and Nigeria's attorney general. The attorney general has demanded MTN pay the $2 billion in September. The company has said the tax demand is without merit and the attorney general has exceeded his powers in making the request. Lawyers for the government requested the adjournment. Nigeria is MTN's biggest market, with 58 million users in 2018 and accounting for a third of the South African firm's core profit.

Assets grow 8.7% despite weak economy

CAPE TOWN The banking sector experienced a slight decline in profitability in the year to March 31 but despite a weak economy banks grew their assets 8.7percent and remained well capitalised according to the first annual report of the Reserve Banks Prudential Authority (PA) released yesterday.The (smoothed) return on equity for the banks fell slightly by 0.57percent over the year while the return on assets fell by 2.29percent. The costtoincome ratio increased marginally to 57.75 from 57.24 in 2018. The report showed total bank assets increased to R5.65trillion from R5.2trln the previous year in spite of the sluggish economy with for instance gross domestic product growth coming in at a meagre 0.8percent last year and 3.2percent in the first three months of 2019.The South African banking sector is dominated by five large banks which collectively held 90.5percent of the total banking sector assets at March 31 2019 with local branches of international banks accounting for 5.6 percent of banking sector assets.The level of impairments remained relatively high.

Listed property looks to shared workspaces to counter office sector glut

Global giant WeWork set to disrupt the sector in SA. Suren Naidoo / 26 June 2019 00:27 No comments so far EMIRA R13.80-0.65%6/25/2019, 5:16:45 PM GROWPNT R24.10-0.54%6/25/2019, 5:16:45 PM NASPERS-N R3,370.00-1.85%6/25/2019, 5:16:45 PM REDEFINE R9.04-1.20%6/25/2019, 5:16:45 PM Global giant WeWork offers ‘more creative co-working spaces' rather than just serviced offices, as seen in this example of its space at Aviation House in London. Picture: Supplied Global giant WeWork offers ‘more creative co-working spaces' rather than just serviced offices, as seen in this example of its space at Aviation House in London. Picture: Supplied South African real estate investment trusts (Reits) are looking to the boom in flexible or shared workspaces internationally as one of the solutions to the glut in the local office property market. Mid-cap Reit Emira is the latest local property counter to enter the shared workspaces scene.

Northam Platinum expects Kukama shaft to be operational in FY 2020

JOHANNESBURG (Reuters) - South Africa's Northam Platinum said on Wednesday mining operations at the Kukama shaft at its Eland mine would recommence in the 2020 financial year after the conclusion of a feasibility study on the project. Northam bought a 100% interest in Eland from Glencore's South African unit in February 2017 for 175 million rand ($12.2 million). The mine had been placed on care and maintenance in 2015 due to a price fall and difficult operating conditions. Northam continued to manage the Eland mine, situated in North West province, on care and maintenance while undertaking the feasibility study for the Kukama shaft. The study found that the life of the mine was in excess of 30 years and estimated positive free cash flow to be generated from year four onwards. It also forecast investment returns "comfortably in excess of Northam's current weighted average cost of capital", the miner said in a statement. Annual production at Kukama is forecast to reach 100,000 ounces of the four elements making up the platinum group metals — platinum, palladium, rhodium and gold - by 2025, with steady state production of 150,000 ounces per year from 2029. "The project further diversifies the group's operations and production capacity and does so efficiently by utilising an extensive existing capital footprint," Northam chief executive Paul Dunne said.

Matshepo More stoutly defends AYO investment at #PICInquiry

CAPE TOWN Matshepo More the suspended acting chief executive and chief investment officer at the Public Investment Corporation (PIC) yesterday put up a strong defence for the asset managers processes when considering the investment in AYO Technology Solutions.More who was testifying at the Commission of Inquiry into alleged improprieties at the PIC did not crack even after a barrage of questions were fired at her by the evidence leader Advocate Jannie Lubbe the commissioner Judge Mpati and the assistant commissioners Jill Marcus and Emanuel Lediga.She did however concede that there were some steps in the processes that were overlooked related to the delegation of authority among others but said these were not isolated to just a single transaction or company.The executive gave details of the conditions imposed by the PICs portfolio management committee (PMC) on the AYO transaction prior to the asset managers investment into the technology company. MATSHEPO More said that all funds raised from AYOs prelisting would be used only for acquisitions for growth. Supplied AYO chairperson Dr Wallace Mgoqi confirmed to Business Report that the company met and continues to meet all conditions imposed by the PMC.

Review: Day Two Under-13 SA Rugby Craven Week

The Sharks, Phakisa Pumas, DHL Western Province and Bidvest Waltons Golden Lions showed great intent on Day Two of the Under-13 SA Rugby Craven Week at HS Rob Ferreira in White River on Tuesday, earning impressive wins. The Sharks and DHL WP produced the most dazzling efforts, with the KwaZulu-Natal side getting nine tries in a seamless win against EP Elephants, while the Cape side scored some sensational tries in their seven-try win against Forever Resorts Limpopo Blue Bulls. The Gauteng side and the hosts also played constructive rugby, which nudged them to their second victories in as many days.

GRIT REAL ESTATE INCOME GROUP LIMITED - Trading Update

GTR 201906260006A Trading Update GRIT REAL ESTATE INCOME GROUP LIMITED (Registered by continuation in the Republic of Mauritius) (Registration number: C128881 C1/GBL) LSE share code: GR1T SEM share code: DEL.N0000 JSE share code: GTR ISIN: MU0473N00036 (‘Grit' or the ‘Company') TRADING UPDATE The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. The board of Directors (the ‘Board') of Grit Real Estate Income Group Limited are pleased to provide the following trading update ahead of the publication of the Company's results for the year ending 30 June 2019 which are expected to be published on or around 26 September 2019. Grit is the leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets underpinned by predominantly US$ and Euro denominated long-term leases with high quality multi-national tenants. The portfolio comprises 25 investments in seven carefully selected investment grade and high growth African countries, excluding South Africa. Highlights • Current portfolio continues to deliver secure and growing income and is trading in line with the Board's expectations. • Successful leasing activity in the period includes a new five-year office lease to Exxon Mobil in Commodity house Phase 2 in Maputo, a Vale lease extension at VDE in Mozambique and a 10-year lease renewal to Anadarko in Commodity House Phase 1 in Maputo. • Significant and growing identified pipeline of attractive potential investment opportunities, diversified across sector and geography, which total circa US$600 million in value. • The Company has successfully deployed its existing equity and debt capital and is considering its options in respect of raising further capital to fund the pipeline in due course. • The Company is intending to expand its current strategy to include a limited number of development opportunities in t

Small business is the answer to president's desire for thriving SA

It's easy to find out where your favourite side ranks in the sporting world, but far less so to appreciate where South Africa's economy falls compared to other countries. There is a global competitiveness index, an innovation index, an entrepreneurship index and several others. The best known is the World Bank's Ease of Doing Business index.

JSE faces another subdued trading day on Wednesday ahead of G20 talks

SA stocks could be in for another subdued day of trading on Wednesday as caution prevails ahead of the Group of 20 (G20) summit in Japan later this week. US stocks fell overnight after Federal Reserve chair Jerome Powell warned of downside risks to the economy, but pushed back against pressure from President Donald Trump to cut interest rates in order to counter the effects of his trade war. Meanwhile, investors are wary of growing tensions between the US and Iran. They are also awaiting Trump's meeting with his Chinese counterpart, Xi Jinping, at the G20 meeting, which starts on Friday. "The US supposedly will not accept any further conditions on tariffs as part of reopening negotiations, but is said to be prepared to delay fresh tariffs for now," analysts at Singapore's OCBC Bank said on Wednesday. Asian markets "may consolidate today", the bank said, adding that investors are keeping an eye on interest rate decisions by central banks in the region. Hong Kong's Hang Seng Index was flat on Wednesday, while the Shanghai Composite lost 0.2% and Japan's Nikkei 225 fell 0.6%. Korea's Kospi was flat, as was Australia's main benchmark. Chinese internet and gaming giant Tencent, which influences the JSE via major shareholder Naspers, was flat in Hong Kong. JSE heavyweight BHP Group was also flat in Australia. Cement maker PPC is due to report annual results on Wednesday.

UPDATE 1-Nigerian court adjourns tax case between MTN and attorney general

(Adds details, context) By Libby George and Alexis Akwagyiram LAGOS, June 26 (Reuters) - A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between South African telecoms company MTN Group and Nigeria's attorney general. The attorney general has demanded MTN pay the $2 billion in September.

PICs Matshepo More defends AYO investment

CAPE TOWN Matshepo More the suspended acting chief executive and chief investment officer at the Public Investment Corporation (PIC) yesterday put up a strong defence for the asset managers processes when considering the investment in AYO Technology Solutions.More who was testifying at the Commission of Inquiry into alleged improprieties at the PIC did not crack even after a barrage of questions were fired at her by the evidence leader Advocate Jannie Lubbe the commissioner Judge Mpati and the assistant commissioners Jill Marcus and Emanuel Lediga.She did however concede that there were some steps in the processes that were overlooked related to the delegation of authority among others but said these were not isolated to just a single transaction or company.The executive gave details of the conditions imposed by the PICs portfolio management committee (PMC) on the AYO transaction prior to the asset managers investment into the technology company. MATSHEPO More said that all funds raised from AYOs prelisting would be used only for acquisitions for growth. Supplied AYO chairperson Dr Wallace Mgoqi confirmed to Business Report that the company met and continues to meet all conditions imposed by the PMC.

Nigeria renewable energy [The Morning Call]

Nigeria's renewable energy solutions provider Anergy has raised 9 million dollars in a Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for Developing Countries. The new capital will fuel commercial growth towards providing energy reliability to customers. Arnergy's distributed renewable energy systems harness the combination of solar power, superior storage solutions and proprietary remote management technologies to deliver scalable, reliable and affordable energy solutions that are tailored to tackle issues related to intermittency and grid unreliability.

Kuwaiti equities to be in main MSCI emerging markets index from 2020

(Adds market reaction, analyst note, adds dateline) DUBAI, June 26 (Reuters) - MSCI Inc said on Tuesday it would upgrade Kuwaiti equities to its main emerging markets index in 2020, a move that could trigger billions of dollars of inflows from passive funds. The index compiler will include the MSCI Kuwait index in the emerging market index in the May 2020 semi-annual index review. MSCI, the world's largest index provider, whose emerging-market group of indexes has about $1.8 trillion of assets tied to it, also said it would start a consultation on reclassifying the MSCI Iceland Index to Frontier Markets status. It said it would announce the results of this by Nov. 29. Kuwait's Market Development Project was implementing several regulatory and operational enhancements in the Kuwaiti equity market, said Sebastien Lieblich, global head of equity solutions and chairman of the MSCI Equity Index Committee. MSCI expects Kuwait to introduce more reforms before the end of 2019, such as introducing omnibus accounts that would allow foreign investors to trade while remaining anonymous, offering the same privileges that local investors now have. The Kuwaiti capital market regulator has already announced plans for such facilities to be available to the wider market by November, Arqaam Capital said in a note. "These enhancements have significantly increased the accessibility level of the Kuwaiti equity market for international institutional investors," Lieblich said. The Kuwaiti market has outperformed markets in the Middle East this year in anticipation of the MSCI move. The benchmark premier index is up about 20% so far this year. It was down 0.5% in early trade on Wednesday. "MSCI EM inclusion could represent the biggest ever liquidity event for Kuwait's stock market," said Salah Shamma, head of investment MENA at Franklin Templeton Emerging Markets Equity, addin

Northam Platinum expects Kukama shaft to be operational in FY 2020

JOHANNESBURG, June 26 (Reuters) - South Africa's Northam Platinum said on Wednesday mining operations at the Kukama shaft at its Eland mine would recommence in the 2020 financial year after the conclusion of a feasibility study on the project. Northam bought a 100% interest in Eland from Glencore's South African unit in February 2017 for 175 million rand ($12.2 million). The mine had been placed on care and maintenance in 2015 due to a price fall and difficult operating conditions.

Studying business coaching can improve the rate of start-up success for hopeful entrepreneurs

Wits Business School is developing a new generation of master coaches Dr Jabulile Msimango-Galawe is a rare kind of teacher; an entrepreneur who became a business coach to help other entrepreneurs avoid the unnecessary mistakes that she had made. She also pursued a doctorate in the field of entrepreneurship to find answers to the perplexing problem of why so many start-ups fail. "I became a business coach because my first business failed after six years of operation.

WATCH: Rand surrenders gains after dollar jumps higher

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Lucy bites the bait, Smanga's business is in trouble in ‘Generations'

While the Diales are planning to dodge Gog'Flo's new idea to do things together as a family, Stivovo threw out the bait to Lucy. Kabisi was willing to help Smanga with his failing business, but he had his own conditions. PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! Gog'Flo came up with an idea for the family to join in on her home renovations, which she believes with help bring the family closer.

SA pensions seen at risk if state forces investments

ANC is looking into introducing prescribed assets to foster inclusive economic growth. A plan mooted by South Africa's ruling African National Congress to force retirement funds into investing in specific state-owned companies or government projects could leave pensioners poorer. The ANC in its election manifesto earlier this year said it would investigate using prescribed assets to help foster inclusive economic growth, fund social improvements and diversify the finance industry. A lack of detail as to how this could materialise since it was accepted at the party's policy conference in 2017 has stoked concerns that this could mean forced investments to prop up the country's cash-strapped state-owned companies. Read: We don't need prescribed assets Introducing the model would typically result in sub-optimal returns, which means savers must increase what they set aside for old age or work longer, Janina Slawski, a principal investment consultant at Alexander Forbes Investments, told reporters in Johannesburg on Tuesday.

INVESTEC PROPERTY FUND LIMITED - Investec Property Fund Limited Redemption of Capital and Interest Payment Notification - IP

Wrap Text Investec Property Fund Limited Redemption of Capital and Interest Payment Notification - IPF09 Investec Property Fund Limited Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration Number 2008/011366/06) ("Investec Property Fund" or "the Fund") JSE Code:IPF09 ISIN Code:ZAG000117086 Redemption of Capital and Interest Payment Notification - IPF09 Noteholders are advised that Investec Property Fund Limited confirm the payments that are to be made in respect of the Interest Period starting 01-Apr-2019 and ending 30-Jun-2019. The Payment Date shall be on 01-Jul-2019. JSE Code: IPF09 ISIN Code: ZAG000117086 Nominal Amount: R250,000,000.00 Redepmtion Amount: R250,000,000.00 Interest Payment: R5,516,095.89 Total Amount Due: R255,516,095.89 Nominal Amount Outstanding: R0.00 Dated: 26-Jun-2019 Sponsor - Investec Bank Limited ("Investec") Date: 26/06/2019 09:06:00 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.

South African Markets - Factors to watch on June 26

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS - No major economic events. COMPANIES - PPC PPCJ.J Full Year 2018 Earnings Release. - Sephaku Holdings SEPJ.J Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETSSouth Africa's rand firmed on Tuesday as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency, which in turn supported developing world currencies. Stocks fell as investor anxiety mounted over this week's U.S.-China trade talks at the G20 Summit. .J ZAR/ GLOBAL MARKETS Asian stocks dipped on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.

MARKET WRAP: JSE slips as investors shy away from risk assets

MARKET WRAP: JSE slips as investors shy away from risk assets Rising tension in the Middle East and the US-China trade war continue to weigh on equities, with local banks and retailers again under pressure 25 JUNE 2019 - 18:10 KARL GERNETZKY Picture: 123RF/BACHO12345 Picture: 123RF/BACHO12345 The JSE slipped on Tuesday, in its third-consecutive session of losses, as global equity markets continued to feel the pinch from geopolitical risk. Local miners were firmer, with gold miners once again in favour, amid rising tension in the Middle East and concern over the US-China trade war. The White House levied additional sanctions on Iran on Monday evening, targeting the country's leadership, prompting Tehran to rule out any diplomatic solution to their ongoing dispute. Gold extended its gains, reaching a six-year high, benefiting local producers and the rand. Banks and retailers, however, were again under pressure. As the JSE closed the rand was 0.44% firmer at a R14.3057/$. A higher gold price tends to benefit the rand, as it is a key earner of foreign exchange for SA. The all share fell 0.7% to 58,343.2 points and the top 40 0.91%.

Cannes Lions 2019: Ogilvy recognised for four campaigns

Ogilvy SA was recognised 12 times across the Print , Direct , Design , Public Relations , Brand Activations , Radio and Activation categories. The wins garnered Ogilvy SA 10 points on the Cannes Lions ranking table. The winning entries for Doom, Omo, Castle Lager and Philips aimed to underscore the agency's ethos of making brands matter, with cultural relevance and creative innovation top of mind.

Northam to restart operations at Eland's fully funded Kukama shaft

JOHANNESBURG (miningweekly.com) - Platinum group metals (PGM) mining and marketing company Northam Platinum on Wednesday announced the company's decision to recommence operations in the new 2020 financial year at the Kukama shaft situated at the Eland mine complex in Brits. Total developmental capital expenditure is estimated at R2.2-billion over five years and the project will be fully funded from Northam's own resources. This development follows the conclusion of a feasibility study for the Kukama project.

GRIT REAL ESTATE INCOME GROUP LIMITED - Trading Update

Wrap Text Trading Update GRIT REAL ESTATE INCOME GROUP LIMITED (Registered by continuation in the Republic of Mauritius) (Registration number: C128881 C1/GBL) LSE share code: GR1T SEM share code: DEL.N0000 JSE share code: GTR ISIN: MU0473N00036 ("Grit" or the "Company") TRADING UPDATE The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. The board of Directors (the "Board") of Grit Real Estate Income Group Limited are pleased to provide the following trading update ahead of the publication of the Company's results for the year ending 30 June 2019 which are expected to be published on or around 26 September 2019. Grit is the leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets underpinned by predominantly US$ and Euro denominated long-term leases with high quality multi-national tenants. The portfolio comprises 25 investments in seven carefully selected investment grade and high growth African countries, excluding South Africa. Highlights • Current portfolio continues to deliver secure and growing income and is trading in line with the Board's expectations. • Successful leasing activity in the period includes a new five-year office lease to Exxon Mobil in Commodity house Phase 2 in Maputo, a Vale lease extension at VDE in Mozambique and a 10-year lease renewal to Anadarko in Commodity House Phase 1 in Maputo. • Significant and growing identified pipeline of attractive potential investment opportunities, diversified across sector and geography, which total circa US$600 million in value. • The Company has successfully deployed its existing equity and debt capital and is considering its options in respect of raising further capital to fund the pipeline in due course. • The Company is intending to expand its current st

South African Markets - Factors to watch on June 26

SEPHAKU:   193     0 (0.00%)   26/06/2019 00:00 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS - No major economic events. COMPANIES - PPC Full Year 2018 Earnings Release. - Sephaku Holdings Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETS South Africa's rand firmed on Tuesday as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency, which in turn supported developing world currencies. Stocks fell as investor anxiety mounted over this week's U.S.-China trade talks at the G20 Summit. GLOBAL MARKETS Asian stocks dipped on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. WALL STREET Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates. GOLD Gold prices slipped more than 1% on Wednesday, moving away from a six-year peak hit on the previous day, as U.S. Federal Reserve officials played down expectations of aggressive rate cuts, while investors locked in profits following a strong rally. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Chief executive of new player TymeBank Shabalala quits four months in. - ANC prescribed assets plan could trigger funds exodus BUSINESS REPORT - Bank sector expands despite weak economy.

Nigerian court case between MTN, attorney general over $2 bln tax dispute adjourned to Oct 29

MTN:   10,663     -39 (-0.36%)   26/06/2019 00:00 LAGOS, June 26 (Reuters) - A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between telecoms company MTN Group and the country's attorney general. The attorney general demanded South Africa's MTN pay the $2 billion in September. The company has said the tax payment demand is without merit, it does not owe the money and the attorney general exceeded his powers in making the request. (Reporting by Libby George and Alexis Akwagyiram; Writing by Paul Carsten; Editing by Toby Chopra) First Published: 2019-06-26 10:21:55 Updated 2019-06-26 10.

Sephaku will pass on carbon tax to customers as profits stall

JSE-listed Sephaku Holdings (SepHold), which owns mixed concrete maker Métier and has a large stake in Dangote Cement's business in SA, says it will pass on the cost of SA's new carbon tax to customers in the form of higher prices. The government started applying the carbon tax, based on emissions, on June 1 2019. Cement makers produce carbon emissions when they use coal to burn limestone and other raw materials. Sephaku Cement, 64% owned by Nigeria-listed Dangote, estimates it will pay carbon taxes of R35m-R40m a year, SepHold said on Wednesday. Sephaku Cement will raise prices in July by between 4% and 6% "in line with the implementation of the carbon tax and standard biannual increases". SepHold said on Wednesday revenue in the year to end-March edged up slightly to R835.8m, while profit after tax was flat at R44m.

Nigerian court adjourns tax case between MTN and attorney general

MTN:   10,663     -39 (-0.36%)   26/06/2019 00:00 (Adds details, context) By Libby George and Alexis Akwagyiram LAGOS, June 26 (Reuters) - A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between South African telecoms company MTN Group and Nigeria's attorney general. The attorney general has demanded MTN pay the $2 billion in September. The company has said the tax demand is without merit and the attorney general has exceeded his powers in making the request. Lawyers for the government requested the adjournment. Nigeria is MTN's biggest market, with 58 million users in 2018 and accounting for a third of the South African firm's core profit.

Is SA facing a succession crisis?

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. Corporate South Africa has recently been infected by a state-owned enterprise disease. The symptoms of the disease? A high turnover of CEOs in a short space of time.

Northam Platinum expects Kukama shaft to be operational in FY 2020

JOHANNESBURG, June 26 (Reuters) - South Africa's Northam Platinum NHMJ.J said on Wednesday mining operations at the Kukama shaft at its Eland mine would recommence in the 2020 financial year after the conclusion of a feasibility study on the project. Northam bought a 100% interest in Eland from Glencore's GLEN.L South African unit in February 2017 for 175 million rand ($12.2 million). The mine had been placed on care and maintenance in 2015 due to a price fall and difficult operating conditions. Northam continued to manage the Eland mine, situated in North West province, on care and maintenance while undertaking the feasibility study for the Kukama shaft. The study found that the life of the mine was in excess of 30 years and estimated positive free cash flow to be generated from year four onwards. It also forecast investment returns "comfortably in excess of Northam's current weighted average cost of capital", the miner said in a statement. Annual production at Kukama is forecast to reach 100,000 ounces of the four elements making up the platinum group metals — platinum, palladium, rhodium and gold - by 2025, with steady state production of 150,000 ounces per year from 2029. "The project further diversifies the group's operations and production capacity and does so efficiently by utilising an extensive existing capital footprint," Northam chief executive Paul Dunne said. Work done to the shaft in preparation for its recommissioning includes refurbishing underground fixed and mobile equipment, as well as certain sections of the concentrator.

Video: Young people awarded for smart ideas

finance Doctor Xhakaza. Capturing the essence of Youth Month, the Ekurhuleni metro recently held a three-day festival of ideas conference with the aim of empowering entrepreneurs in Ekurhuleni. Innovative and bankable business ideas from young entrepreneurs where pitched to a panel of industry experts, bankers and investors within the ICT, smart and advance manufacturing, business process and logistics, agriculture and business services. During the three-day information sharing, the entrepreneurs where taught about business planning, marketing and unpacking business growth. Companies such as Small Enterprise Finance Agency, Small Enterprise Development Agency, Gauteng Enterprise Propeller, Ekurhuleni West College, National Youth Development Agency, Tiger brands, Bidvest and Nedbank shared tips on how to grow their businesses and how they can access opportunities within the organisations. During the third day of the awards ceremony is Kagiso Lerutla, City of Ekurhuleni's new group chief financial officer. Website Website Website Some of the entrepreneurs who pitched the best ideas where given a cash amount for their businesses as well as mentorship programmes from top companies..

LIVESTREAM: SA Home Loans to testify at the PIC inquiry

JOHANNESBURG - An executive from SA Home Loans is expected to testify at the PIC inquiry on Wednesday. The testimony is expected to cover an outstanding bill of R 95-billion in so-called ' transaction origination fees' . On Monday and Tuesday, suspended CFO, Matshepo More, testified into impropriety at the Public Investment Corporation.

PIC to take disciplinary action against 11 staff over R4bn Ayo investment

The Public Investment Corporation (PIC), which manages more than R2-trillion in government employees' pension money and other government funds, is poised to take disciplinary action against 11 staff members for their part in the decision to invest more than R4bn in Ayo Technologies. The recommendation, in an internal PIC report verified by Business Day, comes as the fallout from the organisation's decision to take part in Ayo's initial public listing in December 2017 at an inflated valuation continues to bedevil Africa's biggest fund manager..

Northam restarts Eland mine in R2bn project

Northam Platinum is restarting the mothballed Eland mine at a cost of R2bn as part of its plans to improve operational diversification and reach 1-million ounces of platinum group metal (PGM) production a year. Contrary to the trend of closures and job cuts in the SA mining industry, Northam is investing heavily in new projects and the Eland mine will create 2,800 jobs. Northam bought the Eland mine from Glencore for R175m in February 2017, with the deal including the mine, a large 250,000-tons-per-month concentrator plant, and a fleet of 100 mining vehicles. Glencore inherited the mine when it took over Xstrata. Xstrata bought the Eland property from Loucas Pouroulis for $1bn and invested billions of rands in building the mine and processing plant. The mechanised mine was unprofitable and was stopped in 2015. Northam intends returning it to a conventional mine, using teams of miners to drill and blast, but deploying a highly mechanised approach to the development of tunnels and access to the reef, creating what is known in the industry as a hybrid mine. Northam is the first company to test a potentially industry-changing technology developed by JSE-listed Master Drilling, which has built a flexible mobile tunnel-boring machine that can dig tunnels rapidly.

PPC LIMITED - Delay in the release of the reviewed financial results for the year ended 31 March 2019

Wrap Text Delay in the release of the reviewed financial results for the year ended 31 March 2019 PPC Ltd (Incorporated in the Republic of South Africa) (PPC or company or group) Company registration number: 1892/000667/06 JSE code: PPC JSE ISIN: ZAE 000170049 ZSE code: PPC JSE code: PPC003 JSE ISIN: ZAG000117524 Delay in the release of the reviewed financial results for the year ended 31 March 2019 Shareholders are advised that the anticipated release of the Reviewed Financial Results for the year ended 31 March 2019 ("Annual Results") has been delayed to allow for the completion of the review by the company's auditors. This delay is due to considerations relating to fair value adjustments of Zimbabwean financial assets that could range between R0 - R50m. Accordingly, the annual results announcement and the presentation scheduled for today at 12.00pm has been delayed until Friday 28 June 2019. 26 June 2019 Sponsor Merrill Lynch South Africa (Pty) Limited PPC: Anashrin Pillay Head Investor Relations Tel: +27 (0) 11 386 9000 Financial Communications Advisor: Instinctif Partners Gift Dlamini Mobile: +27 11 050 7536 Date: 26/06/2019 11:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

RNM hosts business indaba

To celebrate Youth Month, the Ray Nkonyeni Youth Council hosted a one-day youth empowerment business Indaba at Margate hotel last Thursday. The session was aimed at bringing together young business owners and those in the know to provide networking opportunities. ALSO READ :  Youth Day: 6 shocking truths about South Africa's youth Individuals with different skills from exciting fields were brought in and presentations were made by various stakeholders such as the National Youth Development Agency, Kwazulu-Natal Economic Development and Tourism Environment affairs, ABSA and Vodacom.

GROWTHPOINT PROPERTIES LIMITED - New Financial Instrument Listing - GRT36

GRT36 201906260033A New Financial Instrument Listing - GRT36 GROWTHPOINT PROPERTIES LIMITED (Incorporated with limited liability in South Africa under registration number 1987/004988/06) JSE Code: GRT36 ISIN No: ZAG000160474 NEW FINANCIAL INSTRUMENT LISTING The JSE Limited has granted a listing to Growthpoint Properties Limited - GRT36 under their Domestic Medium-term Note Programme dated 26 January 2012. INSTRUMENT TYPE: FLOATING RATE NOTE Authorised Programme Size R20,000,000,000.00 Total Notes in issue R18,960,000,000.00 (excluding this issuance) Full note details are set out below: Bond Code GRT36 Nominal Value R500,000,000.00 Issue price 100% Coupon 8.483% (3 Month JIBAR as at 24 June 2019 of 7.033% plus 145 bps) Coupon Rate Indicator Floating Trade Type Price Date Issued 27 June 2019 Maturity Date 27 June 2024 Interest Commencement Date 27 June 2019 First Interest Payment Date 27 September 2019 Interest Payment Dates 27 March, 27 June, 27 September, 27 December Interest Determination Date 27 March, 27 June, 27 September, 27 December Last day to register By 17:00 on 16 March, 16 June, 16 September, 16 December Books Close 17 March, 17 June, 17 September, 17 December Date Convention Following Business Day ISIN No ZAG000160474 Additional Information Senior Unsecured Floating Rate Notes 26 June 2019 Debt sponsor Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 26/06/2019 11:45:00 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

PPC LIMITED - Delay in the release of the reviewed financial results for the year ended 31 March 2019

PPC PPC003 201906260031A Delay in the release of the reviewed financial results for the year ended 31 March 2019 PPC Ltd (Incorporated in the Republic of South Africa) (PPC or company or group) Company registration number: 1892/000667/06 JSE code: PPC JSE ISIN: ZAE 000170049 ZSE code: PPC JSE code: PPC003 JSE ISIN: ZAG000117524 Delay in the release of the reviewed financial results for the year ended 31 March 2019 Shareholders are advised that the anticipated release of the Reviewed Financial Results for the year ended 31 March 2019 (‘Annual Results') has been delayed to allow for the completion of the review by the company's auditors. This delay is due to considerations relating to fair value adjustments of Zimbabwean financial assets that could range between R0 - R50m. Accordingly, the annual results announcement and the presentation scheduled for today at 12.00pm has been delayed until Friday 28 June 2019. 26 June 2019 Sponsor Merrill Lynch South Africa (Pty) Limited PPC: Anashrin Pillay Head Investor Relations Tel: +27 (0) 11 386 9000 Financial Communications Advisor: Instinctif Partners Gift Dlamini Mobile: +27 11 050 7536 Date: 26/06/2019 11:40:00 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.

PPC delays results at the 11th hour

Just 20 minutes before it was scheduled to present its numbers to shareholders, cement maker PPC delayed the publication of its annual results from Wednesday to Friday, citing accounting considerations in Zimbabwe. The release of financial statements for the year to end-March was delayed "to allow for the completion of the review by the company's auditors", PPC said on Wednesday. "This delay is due to considerations relating to fair value adjustments of Zimbabwean financial assets" that probably range between zero and R50m. "Accordingly, the annual results announcement and the presentation scheduled for [Wednesday] at 12pm [at the JSE in Sandton] have been delayed until Friday 28 June 2019," it said at 11.40am on Wednesday. The company said last week that group earnings before interest, tax, depreciation and amortisation were expected to increase by between 0% and 7% from the R1.9bn reported in the prior year. Headline earnings per share (HEPS) would increase by between 33% and 53% and gross debt levels had been reduced. hedleyn@businesslive.co.za.

Precision farming: The benefits of utilising drones for your business

In tough economic times with increasing extreme weather events and stiff competition from overseas, South African farmers need to leverage every opportunity to maximise area use. And that's where advanced technologies like drones can make the difference. James Godden, Head of Aviation at Santam, says: "The use of drones has become increasingly widespread, especially in the agricultural industry.

GLOBAL MARKETS-Fed's Powell resists pressure for hefty rate cut, sends global...

* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh* Fed's Powell, Bullard temper July rate cut expectations * European stocks fall for fourth straight session * Gold slips more than 1% By Virginia Furness LONDON, June 26 (Reuters) - Global stocks fell while the dollar rose on Wednesday as comments from U.S. Federal Reserve dampened excitement about an aggressive rate cut as early as July from the world's most important central bank. Fed Chairman Jerome Powell and St. Louis Federal Reserve Bank President James Bullard on Tuesday pushed back on market expectations and presidential pressure for a significant U.S.

Why Facebook's libra could be huge in emerging markets

Facebook's libra cryptocurrency has taken a lot of criticism from Western government officials and media commentators — but it's not meant for them. A major target market for libra is users in developing countries . From researching cryptocurrency , blockchain and other technologies in the context of developing countries , I can see that digital payment systems are already attractive.

Two business franchises get robbed

Two local businesses were robbed in two separate days in the last week. The first robbery took place at a fast food franchise in Voortrekker Street on Thursday, June 13 at around 21:30. The security guard who was on duty, Mr Edmore Molambo alleged that two unknown men approached them when they were about to close and pointed him with a firearm.

GROWTHPOINT PROPERTIES LIMITED - New Financial Instrument Listing - GRT36

Wrap Text New Financial Instrument Listing - GRT36 GROWTHPOINT PROPERTIES LIMITED (Incorporated with limited liability in South Africa under registration number 1987/004988/06) JSE Code: GRT36 ISIN No: ZAG000160474 NEW FINANCIAL INSTRUMENT LISTING The JSE Limited has granted a listing to Growthpoint Properties Limited - GRT36 under their Domestic Medium-term Note Programme dated 26 January 2012. INSTRUMENT TYPE: FLOATING RATE NOTE Authorised Programme Size R20,000,000,000.00 Total Notes in issue R18,960,000,000.00 (excluding this issuance) Full note details are set out below: Bond Code GRT36 Nominal Value R500,000,000.00 Issue price 100% Coupon 8.483% (3 Month JIBAR as at 24 June 2019 of 7.033% plus 145 bps) Coupon Rate Indicator Floating Trade Type Price Date Issued 27 June 2019 Maturity Date 27 June 2024 Interest Commencement Date 27 June 2019 First Interest Payment Date 27 September 2019 Interest Payment Dates 27 March, 27 June, 27 September, 27 December Interest Determination Date 27 March, 27 June, 27 September, 27 December Last day to register By 17:00 on 16 March, 16 June, 16 September, 16 December Books Close 17 March, 17 June, 17 September, 17 December Date Convention Following Business Day ISIN No ZAG000160474 Additional Information Senior Unsecured Floating Rate Notes 26 June 2019 Debt sponsor Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 26/06/2019 11:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administ

EMERGING MARKETS-Currencies weakens as Fed plays down chances of rate cut

* Dollar's recovery hurts emerging currencies * Czech crown weakens ahead of central bank meeting By Sruthi Shankar June 26 (Reuters) - Emerging-market currencies fell on Wednesday after U.S. Federal Reserve officials tamped down hopes of aggressive interest-rate cuts, while uncertainty before U.S. and Chinese leaders meet drove stocks lower for a fourth straight day.

GLENCORE PLC - GLN; Transactions In own Shares-25 June 2019

GLN 201906260026A GLN; Transactions In own Shares-25 June 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 June 2019 Transactions in own shares-25 June 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 June 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 500,000 Lowest price paid per share (GBp): 275.4500 Highest price paid per share (GBp): 281.3500 Volume weighted average price paid per share (GBp): 279.0174 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 901,156,970 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 13,684,543,096. 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 Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 278.9988 326,975 BATS 0 Chi-X 279.0527 173,025 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 m

EMERGING MARKETS-Currencies weakens as Fed plays down chances of rate cut

* Dollar's recovery hurts emerging currencies * Czech crown weakens ahead of central bank meeting By Sruthi Shankar June 26 (Reuters) - Emerging-market currencies fell on Wednesday after U.S. Federal Reserve officials tamped down hopes of aggressive interest-rate cuts, while uncertainty before U.S. and Chinese leaders meet drove stocks lower for a fourth straight day. Developing-world markets have rallied this month as major central banks signalled they would loosen monetary policy to combat a global economic slowdown.

Northam Platinum expects Kukama shaft to be operational in FY 2020

A feasibility study on the project has reached conclusion. South Northam bought a 100% interest in Eland from Glencore's South Northam continued to manage the Eland mine, situated in North West province, on care and maintenance while undertaking the feasibility study for the Kukama shaft. The study found that the life of the mine was in excess of 30 years and estimated positive free cash flow to be generated from year four onwards. It also forecast investment returns "comfortably in excess of Northam's current weighted average cost of capital", the miner said in a statement. Annual production at Kukama is forecast to reach 100 000 ounces of the four elements making up the platinum group metals — platinum, palladium, rhodium and gold - by 2025, with steady state production of 150 000 ounces per year from 2029. "The project further diversifies the group's operations and production capacity and does so efficiently by utilising an extensive existing capital footprint," Northam chief executive Paul Dunne said. Work done to the shaft in preparation for its recommissioning includes refurbishing underground fixed and mobile equipment, as well as certain sections of the concentrator.

South Africa's Exxaro says Eskom woes to hit coal production

GROUP-5:   89     0 (0.00%)   26/06/2019 00:00 JOHANNESBURG, June 26 (Reuters) - South African miner Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday. It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply. The supply-demand tandem is likely to keep prices for coal used in power plants under pressure in coming months. Exxaro Finance Director Riaan Koppeschaar said in a statement a contractual agreement with Eskom would help mitigate the reduced volumes at home. "China will continue to influence the supply/demand balance in the Pacific with related potential price volatility," he added. Coal capital expenditure (capex) in 2019 is expected to be 9% lower than guided in March, primarily because of delays with the Grootegeluk 6 plant expansion project. Delays in finalising approvals for Thabametsi coal-fired power plant and lenders withdrawing their funding to old coal technology coal-fired power stations also contributed to the lower capex spend forecast. Exxaro is also feeling the impact of Group Five's cash-flow problems which resulted in the struggling construction firm being placed under "business rescue", similar to U.S. Chapter 11 bankruptcy protection in March. During the first quarter, Exxaro was forced to terminate its contract with now de-listed Group Five, who was responsible for parts of the Grootegeluk 6 expansion. Responding to South Africa's long-delayed carbon tax, which became law in May, Exxaro said it would have a low impact on its organisatio

EXCLUSIVE: Pay back the money: Steinhoff demands R874m from Markus Jooste

Exclusive: Steinhoff files court papers to claw back the salaries and bonuses of Markus Jooste and Ben la Grange Steinhoff looks set to make yet more corporate history. In an unprecedented move it is claiming R870m from former CEO Markus Jooste and an additional R272m from former CFO Ben la Grange for "unjustified enrichment". On top of those hefty bills the furniture retailer is demanding interest and legal costs from the two former executives. Steinhoff is not just going after the incentives and bonuses paid to Jooste and La Grange. In a totally unexpected move, it is also going for their base salaries. The claim against Jooste dates from 2009 to 2015 and against La Grange from 2015 to early 2018. A summons, which contains a detailed list of the financial damage allegedly wreaked by Jooste, with the help of La Grange in the final two years before the company's share price collapsed, has just been lodged with the high court in Cape Town. The 33-page summons fleshes out many of the shocking revelations contained in the 2017 and 2018 annual reports, which were recently released after 18 months of interrogation by an international team of forensic auditors. The no-nonsense legal document directly links Jooste and La Grange to the widespread fictitious transactions and accounting irregularities that led to R200bn being wiped off Steinhoff's share value in December 2017. Steinhoff ostensibly entered into transactions with the Campion/ Fulcrum group, the Talgarth group and the TG group "having little or no economic value and not at arm's-length", says the summons.

South Africa's Exxaro says Eskom woes to hit coal production

JOHANNESBURG, June 26 (Reuters) - South African miner Exxaro Resources EXXJ.J expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday. It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply. The supply-demand tandem is likely to keep prices for coal used in power plants under pressure in coming months. Exxaro Finance Director Riaan Koppeschaar said in a statement a contractual agreement with Eskom would help mitigate the reduced volumes at home. "China will continue to influence the supply/demand balance in the Pacific with related potential price volatility," he added. Coal capital expenditure (capex) in 2019 is expected to be 9% lower than guided in March, primarily because of delays with the Grootegeluk 6 plant expansion project. Delays in finalising approvals for Thabametsi coal-fired power plant and lenders withdrawing their funding to old coal technology coal-fired power stations also contributed to the lower capex spend forecast. Exxaro is also feeling the impact of Group Five's GRFJ.J cash-flow problems which resulted in the struggling construction firm being placed under "business rescue", similar to U.S. Chapter 11 bankruptcy protection in March. During the first quarter, Exxaro was forced to terminate its contract with now de-listed Group Five, who was responsible for parts of the Grootegeluk 6 expansion. Responding to South Africa's long-delayed carbon tax, which became law in May, Exxaro said it would have a low impact on its organisation as its relevant emissions were not significant..

Business class only: The 15 bizarre rules for SA ministers travelling abroad

Our ministers have often come under scrutiny for abusing the South African state when travelling abroad. Need we remind you of the trouble Malusi and Norma Gigaba found themselves in last year ? Well, to avoid any further confusion - or blatant looting, if we're being honest - the revised guide for members of the executive has been released this month. It details what cabinet ministers and their deputies are entitled to claim, and what they are strictly forbidden from sticking on the taxpayer's tab.

Amplats surges 5.5% after forecasting an 80% leap in earnings

JOHANNESBURG Anglo American Platinum (Amplats) surged almost 6percent after forecasting an 80percent leap in earnings for the six months to June on the back of the stronger platinum group metals (PGM) price.The miner which is valued at R220billion closed 5.5percent higher on the JSE yesterday at R862.45 a share after attributing the significant earnings jump primarily to an increase in the rand PGM basket price.Palladium and rhodium prices have lifted significantly since last year helping local producers shrug off years of curtailment of capital investment that led to a jobs bloodbath.Amplats an Anglo American subsidiary said headline earnings and headline earnings a share would be at least R2.69bn or 1025cents a share higher compared with the six months to the end of June 2018.Headline earnings and headline earnings a share for the comparative period were R3.363bn and 1282c respectively. The miner said it expected basic earnings and basic earnings a share to be at least 180percent higher than the comparative period as a result of a higher PGM basket price and onceoff impairments in 2018.Basic earnings and earnings per share for the comparative period were R2.179bn and 831c respectively. AMPLATS is the highestranked SA platinum producer in terms of its valuation.

Prescribed Assets- The bad, not so bad and the great

The ANC's 2019 manifesto refers to investigating prescribed assets, which are defined as the proportion of financial institutions' resources that would be assigned to socially productive assets as a key priority. Janina Slawski, principal investment consultant at Alexander Forbes Investments, explains that prescribed assets are mentioned under the two sections in the 2019 manifesto. She stresses that both mentions refer to investigation and that no detail has been provided about the form that the prescription could take.

Zimbabwe's Mnangagwa talks up currency reform but business wary

Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in November 2017, is trying to attract investment and lift growth after a litany of failed economic interventions under his predecessor. | HARARE - Zimbabwe's President Emmerson Mnangagwa said on Tuesday that a decision to ban the use of foreign currencies was an important step to repair the economy, but local businesspeople and investors were wary a day after the reform was announced.Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in November 2017, is trying to attract investment and lift growth after a litany of failed economic interventions under his predecessor.His government said on Monday the country's interim RTGS dollar would be the only legal tender, ending a decade during which multiple currencies including the US dollar had been accepted in shops. But the surprise manner in which the latest currency reform was announced, and Zimbabwe's track record of printing money to plug holes in its public finances, mean many people do not believe it will succeed. With inflation close to 100% last month and desperate levels of unemployment, Zimbabweans are impatient for progress. Unions are threatening strikes if the government does not overturn its policy. "It has always been clear that for our economy to truly take off, we need our own currency," Mnangagwa said in a statement. "While the multi-currency regime helped stabilise the economy, it did not give us control of monetary policy and left us at the mercy of US dollar pricing which has been a root cause of inflation." In the capital Harare, major grocery and fast food chains appeared to heed the directive to stop accepting foreign currencies, but some informal traders selling clothes, car parts and electronics vowed to defy the new rules. "If I stop taking US dollars, how am I going to replace my stock? I have not seen anyone who got US dollars from the bank in a long time," said a clothes seller who only wished to give his first name, Thom

Study suggests skewed #PICInquiry

Research conducted by Independent  Media into the PIC commission leading up to May 29 shows that black owned Sekunjalo Group companies  were mentioned 3.3 times more often  during the commission when compared to other companies that are also  subjects of the inquiry. AYO Technology Solutions had  1061 mentions during the commission whereas the average number of  times other companies being investigated were mentioned was only 94.1.  This equated to AYO being mentioned  11.3 times more often than others a  stunning 88.7% more often. AYO is therefore a clear outlier  according to the statistics.  Phapano Phasha the founder and  director of lobby group and NGO  the AntiPoverty Forum said her  organisation had been following the  developments at the asset manager  very closely and was considering legal  action against the PIC.

WATCH: Stock picks — ARM and Echo Polska Properties

Mark du Toit from Courtney Capital Private Wealth and Drikus Combrinck from Capicraft talk to Business Day TV Mark du Toit from Courtney Capital Private Wealth chose African Rainbow Minerals (ARM) as his stock pick of the day and Drikus Combrinck from Capicraft chose Echo Polska Properties. Du Toit said: "I chose African Rainbow Minerals as the metal prices are running and there is not a lot of supply of new mines coming online and certainly the current company is going to throw off quite a lot of cash now." Combrinck said: "Echo Polska Properties is locally listed but it's a Polish company. They're sitting at about a 9%-10% yield in euro terms but essentially as a Polish company. Now our bond 10-year bond yields are sitting at 8% but our high-quality Reits [real estate investment trusts] are trading at about a 9%.".

Marcus Says More Equally To Blame For PIC Mess

JOHANNESBURG - Former Reserve Bank Governor and commissioner at the Public Investment Corporation (PIC) inquiry Gill Marcus has highlighted that former Chief Financial Officer Matshepo More failed to concede that she and former CEO Dan Matjila bore greater overall responsibility for what happened at the PIC because of the positions they held. More spent a second day on the stand at the PIC inquiry on Tuesday which has been looking into alleged impropriety at the corporation. She has given some explosive revelations including how Matjila signed off on the R4.3 billion payment to Ayo Technologies before consulting with the asset manager's portfolio management committee. Through most of More's testimony, Marcus asked her to give insight on what she knew about the running of the PIC and not to refer the commissioners to other employees. She said it was important for her to know where the responsibility lied. "Absolutely, there's no disagreement that everybody has a responsibility and accountability but there are some people who are more accountable than others because of the virtue of the position they hold. They hold that office that carried greater responsibility and that's the part that I find missing in your testimony." Meanwhile, retired judge Lex Mpati has told More that he was worried about the running of the corporation. The commission resumes on Wednesday morning with another witness expected on the stand. However, the commissioners made it clear that Tuesday was the not the last time More would appear before them. EWN The post appeared first on iAfrica.com..

As Gold Prices Soar, 3 Miners Look Set To Shine

Gold bulls are back in control as prices of the precious metal have soared around 11% since late May to reach their highest level since September 2013. Gold Futures Daily Chart Gold fever has escalated on improved prospects for easier monetary policy from the Federal Reserve, with markets currently pricing in a 100% probability of a rate cut in July. Mounting geopolitical tensions between the U.S. and Iran and lingering uncertainties on the U.S.-China trade front have also attracted investors to the safe haven asset. As well, gold-related ETFs have soared in tandem with the yellow metal over the past month.

CLICKS GROUP LIMITED - Disclosure of acquisition of securities in Clicks Group Limited

Wrap Text Disclosure of acquisition of securities in Clicks Group Limited Clicks Group Limited (Incorporated in the Republic of South Africa) Registration number 1996/000645/06 JSE share code: CLS ISIN: ZAE000134854 CUSIP: 18682W205 ("the Company") DISCLOSURE OF ACQUISITION OF SECURITIES IN CLICKS GROUP LIMITED The Company has received notice from JPMorgan Chase & Co that it has acquired a beneficial interest in ordinary shares in the Company such that its total beneficial interest has increased to 5.12% of the ordinary shares in issue. The Company will file the required notice with the Takeover Regulation Panel, per section 122(3)(a) of the Companies Act, 2008. Cape Town 26 June 2019 Sponsor Investec Bank Limited Date: 26/06/2019 01:15:00 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.

Inquiry hears how businessman tried to make PIC, SA Home Loans pay R45m for deal

Zakheni Dlamini, who is director of business development at SA Home Loans, testified on Wednesday morning at the inquiry into alleged impropriety at the corporation. | JOHANNESBURG - The Public Investment Corporation (PIC) inquiry heard on Wednesday how businessperson Kholofelo Maponya tried to make the PIC and SA Home Loans pay him R45 million for brokering a deal between the two companies.Zakheni Dlamini, who is the director of business development at SA Home Loans, testified on Wednesday morning at the inquiry into alleged impropriety at the corporation.Dlamini told the commission of an SA Home Loans request of R10 billion from the PIC that Maponya wanted to be paid for. Maponya is also a non-executive director of SA Home Loans. Dlamini told the commission that during meetings by SA Home Loans to secure a loan from the PIC, Maponya approached SA Home Loans CEO Kevin Penwarden for his outstanding R45 million bill for facilitating the deal between the two. He said by September, SA Home Loans had still not received the money from the PIC when Maponya called him for a private meeting along with Wellington Maseksa, another non-executive director. "He said the non-payment of the R45 million was the main reason why SA Home Loans was not able to secure approval of the R10 billion funding. He said that we as SAHL needed to find a way of regulating the payment of R45 million and to include it into the new facility SAHL was applying for." Dlamini said Maponya told him that Dan Matjila indicated that if SA Home Loams could make the payments to financial services company MMI Holdings appear to be regular, he would support them..

PPC LIMITED - Leadership and Governance Update: PPC Appoints Roland van Wijnen as Chief Executive Officer

Wrap Text Leadership and Governance Update: PPC Appoints Roland van Wijnen as Chief Executive Officer PPC Ltd (Incorporated in the Republic of South Africa) (PPC or company or group) Company registration number: 1892/000667/06 JSE code: PPC JSE ISIN: ZAE 000170049 ZSE code: PPC JSE code: PPC003 JSE ISIN: ZAG000117524 LEADERSHIP AND GOVERNANCE UPDATE: PPC APPOINTS ROLAND VAN WIJNEN AS CHIEF EXECUTIVE OFFICER (CEO) Following a global search, the Board of Directors of PPC Ltd is pleased to announce the appointment of Roland van Wijnen as Chief Executive Officer (CEO). The search for a new CEO to succeed Johan Claassen began last November when he announced he was taking early retirement from his position of CEO of PPC. "Considering the specialized nature of the industry, and its challenges, as soon as Johan decided to retire, the board began a process to identify a high calibre candidate, with extensive experience in leading cement companies in cyclical downturns and challenging markets," said PPC Chairperson, Jabu Moleketi. "We are pleased to have secured Roland, a Dutch national, whose listed company experience and exposure to international global best practice will broaden the management practices of PPC. He is an ideal appointment as he already has a detailed knowledge of the cement sector. He is up-to-speed with our strategic imperatives and will advance the process without any delays." VAN WIJNEN EXPERIENCE Van Wijnen was with Holcim, now LafargeHolcim, for 17 years during which time he held various senior leadership roles across the group.

Digital marketing strategies are a highly coveted business approach

It is no secret that the modern approach to business is vastly different to the approach taken and successful in years past. Today, modern businesses make use of both traditional advertising and marketing methods, and the modern advertising and marketing strategies, to bolster their brand exposure, industry reputation, and consumer impressions. More and more companies are realising the impact that modern strategies, like the utilisation of digital marketing , could have.

Norman Mbazima to chair new Bain oversight board

Bain & Company announced on Wednesday that it has appointed Norman Mbazima to chair its new African oversight board, which the company set up to provide risk oversight in the wake of its work for the SA Revenue Service under former commissioner Tom Moyane. Mbazima is deputy chairperson of Anglo American SA. From 2012 to 2016 he served as CEO of Kumba Iron Ore.

‘Platinum Valley' SEZ in three months - Patel

JOHANNESBURG (miningweekly.com) - The legal entity for the Bojanala Platinum Valley special economic zone (SEZ) in North West, which already has an investment pipeline in place, will be set up in the next three months, Trade and Industry Minister Ebrahim Patel promised on Tuesday evening. Fuel cell development is listed as the main focus of the Platinum Valley SEZ, which has also been earmarked for platinum recycling and additional autocatalyst manufacture. What Silicon Valley did for solid-state development in the US, Platinum Valley is being earmarked to do for platinum-catalysed fuel cells that provide the zero-emitting, carbon-free energy to a world that is fighting to mitigate climate change.

Exxaro says Eskom woes to hit coal production

It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. | JOHANNESBURG - South African miner Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday.It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation.Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply. The supply-demand tandem is likely to keep prices for coal used in power plants under pressure in coming months. Exxaro Finance Director Riaan Koppeschaar said in a statement a contractual agreement with Eskom would help mitigate the reduced volumes at home. "China will continue to influence the supply/demand balance in the Pacific with related potential price volatility," he added. Coal capital expenditure (capex) in 2019 is expected to be 9% lower than guided in March, primarily because of delays with the Grootegeluk 6 plant expansion project. Delays in finalising approvals for Thabametsi coal-fired power plant and lenders withdrawing their funding to old coal technology coal-fired power stations also contributed to the lower capex spend forecast. Exxaro is also feeling the impact of Group Five's cash-flow problems which resulted in the struggling construction firm being placed under "business rescue", similar to US Chapter 11 bankruptcy protection in March. During the first quarter, Exxaro was forced to terminate its contract with now de-listed Group Five, who was responsible for parts of the Grootegeluk 6 expansion. Responding to South Africa's long-delayed carbon tax, which became law in

Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi

Bombardier Inc said it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation. Montreal-based Bombardier has been selling off its weaker-performing commercial plane programs aimed at airlines to focus on profitable business jets and passenger rail cars. The company faced a cash-crunch in 2015 while bringing a larger narrowbody jet to market.

THE RISING STAR PROGRAMME

Our very own founder of Spice4life.co.za and ChangeMakershub.org, Michelle Korevaar has been announced as one of the Rising Star Judges. "I am very excited to be supporting this amazing initiative that provides a platform to unearth and recognise those inspirational and exciting leaders of tomorrow. Rising Star acknowledges the young people shaping the future of South Africa  and I am honoured to be a small part of it" says Korevaar.

Moratorium needed to halt retrenchments - Cosatu

The Congress of South African Trade Unions (Cosatu) has suggested that a moratorium should be put in place to halt the growing number of retrenchment. This after Multichoice announced their plans to let go 2,000 employees at its call centres and walk-in services. However, the quarterly employment survey shows employment increased by 76 000 or 0,8% year-on-year between March 2018 and March 2019.

Craven, Grant Khomo Week, marks huge rugby school success

The best provincial schoolboy rugby talent at Youth Week. Scintillating action, and the best provincial schoolboy rugby talent, highlighted the opening day of the u-13 South Africa Rugby Craven Week and the u-16 SA Rugby Grant Khomo Week at High School Rob Ferreira in White River on June 24. The DHL Western Province teams showed massive intent in their performance in both tournaments, with their u-13 side winning 70-12 against ITS Valke and their u-16 team outclassing Boland by a massive margin of 78-7.

Business robbery suspect arrested

PORT ELIZABETH - Excellent team work by police members and, keeping an attentive eye out for two stolen vehicles, resulted in their speedy recovery and an arrest of a robbery suspect yesterday. It is alleged that on Tuesday, 25 June 2019 at 11:45, approximately 6 males entered the premises of a valet company in Newton Park and held the staff at gunpoint. The staff was shoved in a back office and two vehicles were taken, a Ford Ranger and a Toyota Etios.

Nigerian court adjourns tax case between MTN and attorney general

A Nigerian judge on Wednesday adjourned until October 29 a case to resolve a $2-billion tax dispute between South African telecoms company MTN Group and Nigeria's attorney general. The attorney general has demanded MTN pay the $2-billion in September. The company has said the tax demand is without merit and the attorney general has exceeded his powers in making the request.

Exxaro says Eskom woes to hit coal production

The supply-demand tandem is likely to keep prices for coal used in power plants under pressure in coming months. South It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply. The supply-demand tandem is likely to keep prices for coal used in power plants under pressure in coming months. Exxaro Finance Director Riaan Koppeschaar said in a statement a contractual agreement with Eskom would help mitigate the reduced volumes at home. "China will continue to influence the supply/demand balance in the Pacific with related potential price volatility," he added. Coal capital expenditure (capex) in 2019 is expected to be 9% lower than guided in March, primarily because of delays with the Grootegeluk 6 plant expansion project. Delays in finalising approvals for Thabametsi coal-fired power plant and lenders withdrawing their funding to old coal technology coal-fired power stations also contributed to the lower capex spend forecast. Exxaro is also feeling the impact of Group Five's cash-flow problems which resulted in the struggling construction firm being placed under "business rescue", similar to US Chapter 11 bankruptcy protection in March. During the first quarter, Exxaro was forced to terminate its contract with now de-listed Group Five, who was responsible for parts of the Grootegeluk 6 expansion. Responding to South.

PPC LIMITED - Leadership and Governance Update: PPC Appoints Roland van Wijnen as Chief Executive Officer

PPC PPC003 201906260038A Leadership and Governance Update: PPC Appoints Roland van Wijnen as Chief Executive Officer PPC Ltd (Incorporated in the Republic of South Africa) (PPC or company or group) Company registration number: 1892/000667/06 JSE code: PPC JSE ISIN: ZAE 000170049 ZSE code: PPC JSE code: PPC003 JSE ISIN: ZAG000117524 LEADERSHIP AND GOVERNANCE UPDATE: PPC APPOINTS ROLAND VAN WIJNEN AS CHIEF EXECUTIVE OFFICER (CEO) Following a global search, the Board of Directors of PPC Ltd is pleased to announce the appointment of Roland van Wijnen as Chief Executive Officer (CEO). The search for a new CEO to succeed Johan Claassen began last November when he announced he was taking early retirement from his position of CEO of PPC. ‘Considering the specialized nature of the industry, and its challenges, as soon as Johan decided to retire, the board began a process to identify a high calibre candidate, with extensive experience in leading cement companies in cyclical downturns and challenging markets,' said PPC Chairperson, Jabu Moleketi. ‘We are pleased to have secured Roland, a Dutch national, whose listed company experience and exposure to international global best practice will broaden the management practices of PPC. He is an ideal appointment as he already has a detailed knowledge of the cement sector. He is up-to-speed with our strategic imperatives and will advance the process without any delays.' VAN WIJNEN EXPERIENCE Van Wijnen was with Holcim, now LafargeHolcim, for 17 years during which time he held various senior leadership roles across the group.

'Prescribed assets implementation will have serious implications for members'

The ANC in its election manifesto earlier this year said it would investigate using prescribed assets to help foster inclusive economic growth. However, Alexandra Forbes says some of its pension fund members have indicated that they would withdraw from the retirement fund or reduce their contribution if prescribed assets became official government policy. Alexander Forbes principal investment consultant Janina Slawski says if people feel that something is happening with the retirement fund that is not good for them, they will potentially withdraw their money. Read: The biggest issue is with reduced investment returns. The concerns have been coming from the trustees because they are entrusted with looking after members' assets in the best possible way. So they've been asking questions as to how concerning is this, should we be looking for ways to start protecting members assets from these sorts of questions.

SHOPRITE HOLDINGS LIMITED - Disclosure of disposal of securities by Invesco Ltd

Wrap Text Disclosure of disposal of securities by Invesco Ltd 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") DISCLOSURE OF DISPOSAL OF SECURITIES BY INVESCO LTD In accordance with the JSE Limited Listings Requirements and Section 122(1) of the Companies Act, No 71 of 2008 ("the Act"), shareholders are advised that Invesco Ltd has formally notified Shoprite Holdings that it has disposed of ordinary shares in the Company, resulting in the total beneficial interest of Shoprite Holdings ordinary shares held by Invesco Ltd reducing to 4.895% of the total issued Shoprite Holdings ordinary shares. Shoprite Holdings has, as required by section 122(3) of the Act, filed the required notice with the Takeover Regulation Panel. Cape Town 26 June 2019 Sponsor Nedbank Corporate and Investment Banking Date: 26/06/2019 03:04:00 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.

Huawei says 5G 'business as usual' despite US sanctions

The Trump administration has been pressing other countries to ban Huawei equipment from their networks. INTERNATIONAL NEWS - Chinese telecommunications giant Huawei said Wednesday that its 5G business has not been impacted by the recent US sanctions amid a prolonged trade war between the world's two largest economies. "I can clearly tell everyone here that our current 5G technology solutions are completely unaffected by the sanctions," said Ken Hu, Huawei's deputy chairman, during a press conference at the Mobile World Congress in Shanghai.

SHOPRITE HOLDINGS LIMITED - Disclosure of disposal of securities by Invesco Ltd

SHP 201906260047A Disclosure of disposal of securities by Invesco Ltd 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') DISCLOSURE OF DISPOSAL OF SECURITIES BY INVESCO LTD In accordance with the JSE Limited Listings Requirements and Section 122(1) of the Companies Act, No 71 of 2008 (‘the Act'), shareholders are advised that Invesco Ltd has formally notified Shoprite Holdings that it has disposed of ordinary shares in the Company, resulting in the total beneficial interest of Shoprite Holdings ordinary shares held by Invesco Ltd reducing to 4.895% of the total issued Shoprite Holdings ordinary shares. Shoprite Holdings has, as required by section 122(3) of the Act, filed the required notice with the Takeover Regulation Panel. Cape Town 26 June 2019 Sponsor Nedbank Corporate and Investment Banking Date: 26/06/2019 03:04:00 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..

PPC appoints CEO with global experience

Cement producer PPC has appointed Roland van Wijnen to succeed Johan Claassen as CEO. Van Wijnen is a Dutch national, whose listed company experience and exposure to international global best practice is expected to enhance the management practices of PPC. "He is an ideal appointment as he has detailed knowledge of the cement sector.

Huawei says 5G 'business as usual' despite US sanctions

The Trump administration has been pressing other countries to ban Huawei equipment from their networks. INTERNATIONAL NEWS - Chinese telecommunications giant Huawei said Wednesday that its 5G business has not been impacted by the recent US sanctions amid a prolonged trade war between the world's two largest economies. "I can clearly tell everyone here that our current 5G technology solutions are completely unaffected by the sanctions," said Ken Hu, Huawei's deputy chairman, during a press conference at the Mobile World Congress in Shanghai.

Business Enhancement Series Part 1: The reasons why some companies are successful, even in recessionary times

To discuss this article or your business enhancement needs, contact Gordon on az.oc.dnarbtab@nodrog . The recently published RMB/BER Business Confidence Index report some 70% of South Africa's executives to currently be unsatisfied with business conditions in the country. It is worthy to note that in the years 2004 to 2007, the satisfactory figure was 80%! Since the Great Recession sword fell in late 2007/early 2008, business confidence has been trading in the red, without reprieve, for over nine years now! But, if 70% of executives find business conditions unsatisfactory, then, by deduction 30% are finding conditions to be at least satisfactory.

MAS REAL ESTATE INC - Lead independent director, issue of shares in terms of the share scheme, director update, delisting of

MSP 201906260050A Lead independent director, issue of shares in terms of the share scheme, director update, delisting of shares MAS Real Estate Inc. Registered in the British Virgin Islands Registration number 1750199 SEDOL (EMTF): B96VLJ5 SEDOL (JSE): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 LEI code: 213800T1TZPGQ7HS4Q13 (‘MAS' or ‘the Company') APPOINTMENT OF LEAD INDEPENDENT DIRECTOR, ISSUE OF NEW SHARES IN TERMS OF THE SHARE SCHEME, DIRECTOR UPDATE AND DELISTING OF SHARES Lead Independent Director Shareholders are advised that Werner Alberts, a current director of the Company, has been appointed as Lead Independent Director. This appointment is in line with best practice pursuant to the King IV Report on Corporate Governance. Issue of New Shares Werner Behrens, CEO and Paul Osbourn, CFO have been invited to participate in the MAS Share Purchase Scheme (‘the Share Scheme') to acquire scheme shares (‘the Scheme Shares'). In terms of the Share Scheme, loans to acquire Scheme Shares are offered to participants. The distributions received from the Scheme Shares will be applied to settle the interest on the loan.

MARKETS-Stocks gain as trade talk hopes rise, rate-cut pressure ebbs

* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh * Fed's Powell, Bullard temper July rate cut expectations * European stocks gain after CNBC fuels trade talk optimism * U.S. futures point to strong open (Recasts to reflect optimism in global stocks, adds quote) By Virginia Furness LONDON, June 26 (Reuters) - European stocks and U.S. equity futures were higher on Wednesday after a report fuelled optimism about progress in U.S.-China trade talks, offsetting disappointment about the size of potential U.S.

South Africa's PPC picks ex-Lafarge veteran van Wiljnen as CEO

JOHANNESBURG, June 26 (Reuters) - South African cement company PPC named ex-LafargeHolcim veteran Roland van Wiljnen as its new chief executive on Wednesday after a near seven-month search. Van Wiljen, who will start as soon as he receives a work permit, takes over at a tough time for PPC, which operates in six African countries, as a weak local economy has left it dependent on growth in the rest of the continent. PPC said the Dutchman has signed a four-year contract to replace John Classen who retired in November.

PICK N PAY STORES LIMITED - No Change Statement and Notice of Annual General Meeting

Wrap Text No Change Statement and Notice of Annual General Meeting PICK N PAY STORES LIMITED Incorporated in the Republic of South Africa Registration Number 1968/008034/06 ISIN: ZAE000005443 JSE Share Code: PIK (Pick n Pay or the Company) NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING NO CHANGE STATEMENT Shareholders are advised that the 2019 Integrated Annual Report, Corporate Governance Report and Remuneration Report are now available on our website, www.picknpayinvestor.co.za together with the audited Company and Group annual financial statements for the 53 weeks ended 03 March 2019, which were published on 10 June 2019. The annual financial statements contain no modifications to the summarised audited Group annual financial statements that were published on 26 April 2019. Ernst & Young Inc. completed their audit of the Company and Group annual financial statements on 25 April 2019.

Huawei says 5G 'business as usual' despite US sanctions

SHANGHAI - Chinese telecommunications giant Huawei said on Wednesday that its 5G business has not been impacted by the recent US sanctions amid a prolonged trade war between the world's two largest economies. "I can clearly tell everyone here that our current 5G technology solutions are completely unaffected by the sanctions," said Ken Hu, Huawei's deputy chairman, during a press conference at the Mobile World Congress in Shanghai. "For the contracts that we have signed and the ones that we are going to sign in the future, we can fully guarantee the supply to our customers." The Trump administration has been pressing other countries to ban Huawei equipment from their networks, particularly in the coming rollout of super-fast 5G networks, a global project in which Huawei had been expected to play a leading role.

South Africa's PPC picks ex-Lafarge veteran van Wiljnen as CEO

PPC:   480     +5 (+1.05%)   26/06/2019 00:00 JOHANNESBURG, June 26 (Reuters) - South African cement company PPC named ex-LafargeHolcim veteran Roland van Wiljnen as its new chief executive on Wednesday after a near seven-month search. Van Wiljen, who will start as soon as he receives a work permit, takes over at a tough time for PPC, which operates in six African countries, as a weak local economy has left it dependent on growth in the rest of the continent. PPC said the Dutchman has signed a four-year contract to replace John Classen who retired in November. Obtaining a South African work permit for van Wiljnen is a process which could take weeks or months. Van Wiljnen, a former CEO of LafargeHolcim's Philippines unit, worked in the Swiss buildings company's South African and Eastern European divisions during his 17-year career there. "He is an ideal appointment as he already has a detailed knowledge of the cement sector. He is up-to-speed with our strategic imperatives and will advance the process without any delays," PPC chair Jabu Moleketi said in a statement. PPC, which was due to report its latest results on Wednesday but has postponed their release until Friday, did not explain why it had taken so long to find a replacement for Classen, but said it had conducted a global search. At its last half-year results in November, PPC's earnings per share rose 11% on strong growth in the rest of Africa which offset a weak performance in its home market. (Reporting by Naledi Mashishi Editing by Tanisha Heiberg and Alexander Smith) 2019-06-26 16.

PPC picks ex-Lafarge veteran van Wiljnen as CEO

The appointment comes after a near seven-month search for a CEO. South African cement company PPC named ex-Lafarge Holcim veteran Roland van Wiljnen as its new chief executive on Wednesday after a near seven-month search. Van Wiljen, who will start as soon as he receives a work permit, takes over at a tough time for PPC, which operates in six African countries, as a weak local economy has left it dependent on growth in the rest of the continent. PPC said the Dutchman has signed a four-year contract to replace Johan Classen who retired in November. Obtaining a South African work permit for van Wiljnen is a process which could take weeks or months. Van Wiljnen, a former CEO of Lafarge Holcim's Philippines unit, worked in the Swiss buildings company's South African and Eastern European divisions during his 17-year career there. "He is an ideal appointment as he already has a detailed knowledge of the cement sector.

Steinhoff wants Markus Jooste to pay back R870m - Financial Mail

Steinhoff has filed papers in the Cape Town High Court in an attempt to claw back hundreds of millions of rands from its former CEO Markus Jooste and its ex-CFO Ben la Grange, according to the Financial Mail .  The business magazine reported on Wednesday that the Stellenbosch-headquartered company is claiming  R870m from Jooste and R272m from la Grange. This would include both salaries and bonuses.  Steinhoff did not immediately reply to a request for comment on Wednesday afternoon. Fin24 has not seen a copy of the summons.  Jooste and la Grange were previously named by Steinhoff as forming part of a group of eight people implicated in the findings of a 15-month forensic probe of the company's books by PwC. Steinhoff instituted the probe in December 2017, after Jooste abruptly resigned at the start of an an accounting scandal.

U.S. business spending appears to stabilize; goods trade gap widens

* Core capital goods orders rise 0.4% in May * Durable goods orders fall 1.3% * Goods trade deficit increases 5.1% in May By Lucia Mutikani WASHINGTON, June 26 (Reuters) - New orders for key U.S.-made capital goods rose more than expected in May and shipments increased solidly, suggesting some stabilizing in business spending on equipment after a drop early in the year. Other data on Wednesday showed a surge in the goods trade deficit last month, leaving intact expectations that economic growth was slowing sharply in the second quarter after getting a temporary boost from a burst in exports and inventory accumulation in the first three months of the year. Growing risks to the economy, especially related to trade tensions between the United States and China, and low inflation, prompted the Federal Reserve to last week signal interest rate cuts starting as early as July. The economy will mark 10 years of growth next month, the longest expansion in history. The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 0.4% last month amid increases in demand for machinery, and computers and electronic products. These so-called core capital goods orders dropped by an unrevised 1.0% in April. Economists polled by Reuters had forecast core capital goods orders edging up 0.1% in May. Core capital goods orders rose 2.3% on a year-on-year basis. Shipments of core capital goods increased 0.7% last month after an upwardly revised 0.4% gain in the prior month.

South Africa's PPC picks ex-Lafarge veteran van Wiljnen as CEO

JOHANNESBURG, June 26 (Reuters) - South African cement company PPC PPCJ.J named ex-LafargeHolcim LHN.S veteran Roland van Wiljnen as its new chief executive on Wednesday after a near seven-month search. Van Wiljen, who will start as soon as he receives a work permit, takes over at a tough time for PPC, which operates in six African countries, as a weak local economy has left it dependent on growth in the rest of the continent. said the Dutchman has signed a four-year contract to replace John Classen who retired in November. Obtaining a South African work permit for van Wiljnen is a process which could take weeks or months.

SUPER GROUP LIMITED - Super Group Limited - New Financial Instruments Listing SPG006 and SPG007 updated

Wrap Text Super Group Limited - New Financial Instruments Listing - SPG006 and SPG007 - updated Super Group Limited JSE Code: SPG006 and SPG007 ISIN Nos: ZAG000160227 and ZAG000160235 New Financial Instruments Listing - SPG006 and SPG007 - updated Please note that this SENS replaces the SENS issued on 14 June 2019. Super Group is pleased to announce that it has raised a total of R1 billion in terms of its Domestic Medium Term Note Programme dated 22 October 2013. In an auction held on 12 June 2019, bids of R2,88 billion were received in total for both the three and five year tranches. The JSE Limited has granted a listing to Super Group Limited - Issue SPG006 due 18 June 2022. INSTRUMENT TYPE: Floating Rate Notes Authorised Programme size R2,000,000,000.00 Total Notes in Issue (including current issue) R1,329,000,000.00 Bond Code SPG006 Issue Price 100% Nominal Issued R375,000,000.00 Coupon Rate 3 Month Jibar plus 145 bps per annum Trade Type Price Maturity Date 18 June 2022 Interest Commencement date 18 June 2019 Business Day Convention Following Business Day Interest Payment Dates 18 June 18, September, 18 December, 18 March of each year until Maturity Date Books Close 8 June to 17 June, 8 September to 17 September, 8 December to 17 December, and from 8 March to 17 March (all dates inclusive) of each year until Maturity Date Last day to register By 17h00 on 7 June, 7 September, 7 December, 7 March of each year until Maturity Date Issue Date 18 June 2019 ISIN ZAG000160227 The JSE Limited has granted a listing to

How to stay focused on the business decisions that matter most

Most people have heard about the 80/20 rule in some form. It asserts that 80% of effects come from 20% of the causes. We can see it applied in many different ways: 20% of your employees are responsible for 80% of the results; 20% of products are responsible for 80% of sales; and in some countries 80% of wealth is owned by 20% of people.

Steinhoff seeks R850m from ex-CEO after accounting crisis

Meanwhile, ex-CFO Ben la Grange is being sued for about R271m as part of the same case. Steinhoff International is seeking more than R850 million ($59 million) from former chief executive officer Markus Jooste for his role in the accounting crisis that triggered the retailer's near-collapse. The owner of Conforama in France and Mattress Firm in the US is looking to claw back base salaries, bonuses and other incentives paid to Jooste over several years from 2009, according to legal papers filed to the High Court in Cape Town. Ex-chief financial officer Ben la Grange is being sued for about R271 million as part of the same case. The lawsuit leaves little doubt that Steinhoff's current management holds Jooste chiefly responsible for the series of dubious third-party transactions and artificially inflated asset values at the South African company.

AFRICAN RAINBOW MINERALS LIMITED - African Rainbow Minerals Limited announces a change to the Board of Directors

ARI 201906260061A African Rainbow Minerals Limited announces a change to the Board of Directors African Rainbow Minerals Limited Incorporated in the Republic of South Africa) (Registration number 1933/004580/06) JSE Share code: ARI ISIN: ZAE000054045 (‘ARM' or the ‘Company') African Rainbow Minerals Limited announces a change to the Board of Directors In terms of paragraph 3.59 of the JSE Limited Listings Requirements, notification is hereby given that with effect from 30 June 2019, Mr Kobus Möller will resign as an independent non-executive director of the Company, to pursue other interests. The Executive Chairman of African Rainbow Minerals (ARM) Dr Patrice Motsepe said: I would like to thank Mr Kobus Möller for his advice and valuable contribution on the ARM Board. I have had the honour of working with Kobus for many years, particularly whilst he was the Finance Director of Sanlam. I wish him everything of the very best. For more information, please contact: Jongisa Magagula Head of Investor Relations and Corporate Development Tel: +27 11 779 1507 E-mail: jongisa.magagula@arm.co.za Johannesburg 26 June 2019 Sponsor: Investec Bank Limited Date: 26/06/2019 05:00:00 Produced by the JSE SENS Department.

SUPER GROUP LIMITED - Super Group Limited - New Financial Instruments Listing SPG006 and SPG007 updated

SPG006 SPG007 201906260057A Super Group Limited - New Financial Instruments Listing - SPG006 and SPG007 - updated Super Group Limited JSE Code: SPG006 and SPG007 ISIN Nos: ZAG000160227 and ZAG000160235 New Financial Instruments Listing - SPG006 and SPG007 - updated Please note that this SENS replaces the SENS issued on 14 June 2019. Super Group is pleased to announce that it has raised a total of R1 billion in terms of its Domestic Medium Term Note Programme dated 22 October 2013. In an auction held on 12 June 2019, bids of R2,88 billion were received in total for both the three and five year tranches. The JSE Limited has granted a listing to Super Group Limited - Issue SPG006 due 18 June 2022. INSTRUMENT TYPE: Floating Rate Notes Authorised Programme size R2,000,000,000.00 Total Notes in Issue (including current issue) R1,329,000,000.00 Bond Code SPG006 Issue Price 100% Nominal Issued R375,000,000.00 Coupon Rate 3 Month Jibar plus 145 bps per annum Trade Type Price Maturity Date 18 June 2022 Interest Commencement date 18 June 2019 Business Day Convention Following Business Day Interest Payment Dates 18 June 18, September, 18 December, 18 March of each year until Maturity Date Books Close 8 June to 17 June, 8 September to 17 September, 8 December to 17 December, and from 8 March to 17 March (all dates inclusive) of each year until Maturity Date Last day to register By 17h00 on 7 June, 7 September, 7 December, 7 March of each year until Maturity Date Issue Date 18 June 2019 ISIN ZAG000160227 The JSE Limited has granted a listing to Super Group Limited - Issue SPG007 due 18 June 2024. INSTRUMENT TYPE: Floating Rate Notes Authorised Programme size R2,000,000,000.00 Total Notes in Issue (including current issue) R1,954,000,000.00 Bond Code SPG007 Issue Price 100% Nominal Issued R625,000,000.00 Coupon Rate 3 Month Jibar plus 165 bps per annum Trade Type Price Maturity Date 18 June 2024 Interest Commencement date 18 June 2019 Business Day Convention Following Business Day Interest Payment Dates

A New Attitude: UnStereotyping Advertising

As the Women's Decade 2010-2020 of the African Union draws to a close, women the world over are standing firm in their push for gender equality - and they want men to walk and work with them, to change perceptions of how women are viewed, and implement changes right where they are. This is at the very core of the United Nations HeForShe campaign www.heforshe.org - a place where men can feel powerfully emboldened to be part of the movement and the solution. The strides governments are making are laudable, says Anne Githuku-Shongwe, Representative at the United Nations Women South Africa  Multi-Country Office.  However,  the real work of gender equality has to continually happen in our communities, in our thinking, in our advertising and our perceptions of women.

MAS REAL ESTATE INC - Lead independent director, issue of shares in terms of the share scheme, director update, delisting of

Wrap Text Lead independent director, issue of shares in terms of the share scheme, director update, delisting of shares MAS Real Estate Inc. Registered in the British Virgin Islands Registration number 1750199 SEDOL (EMTF): B96VLJ5 SEDOL (JSE): B96TSD2 JSE share code: MSP ISIN: VGG5884M1041 LEI code: 213800T1TZPGQ7HS4Q13 ("MAS" or "the Company") APPOINTMENT OF LEAD INDEPENDENT DIRECTOR, ISSUE OF NEW SHARES IN TERMS OF THE SHARE SCHEME, DIRECTOR UPDATE AND DELISTING OF SHARES Lead Independent Director Shareholders are advised that Werner Alberts, a current director of the Company, has been appointed as Lead Independent Director. This appointment is in line with best practice pursuant to the King IV Report on Corporate Governance. Issue of New Shares Werner Behrens, CEO and Paul Osbourn, CFO have been invited to participate in the MAS Share Purchase Scheme ("the Share Scheme") to acquire scheme shares ("the Scheme Shares"). In terms of the Share Scheme, loans to acquire Scheme Shares are offered to participants. The distributions received from the Scheme Shares will be applied to settle the interest on the loan.

S.Africa's rand firmer as trade talk hopes rise, stocks edge up

NASPERSN:   342,055     +5055 (+1.50%)   26/06/2019 00:00 * Rand rises on U.S-China trade progress * Stocks tread water (Update prices) JOHANNESBURG, June 26 (Reuters) - South Africa's rand firmed on Wednesday as risk appetite improved after comments from the U.S. Treasury Secretary suggesting progress in a trade deal with China, offsetting disappointment about the size of potential U.S. interest rate cuts. Stocks rose marginally but were held back as bullion shares came under pressure. At 1510 GMT, the rand traded 0.57% firmer at 14.2750 per dollar.

Astound Commerce Middle East on launching your business online

is the Managing Director of  Astound Commerce Middle East . Astound Commerce Middle East is the largest Digital Commerce Agency in the region, combining strategy, technology, creative and interactive marketing services.  Clients include leading companies and retailers Al Futtaim, The Modist, dnata,  nice.co , Infiniti and EMAAR Malls. Here he shares with us the top questions to ask oneself when considering launching a business online.  Forget tech when launching your business online.

BRIMSTONE INVESTMENT CORPORATION LIMITED - Announcement regarding the acquisition of additional Oceana shares

BRT BRN 201906260056A Announcement regarding the acquisition of additional Oceana shares Brimstone Investment Corporation Limited (Incorporated in the Republic of South Africa) Registration number 1995/010442/06 Share Code: BRT ISIN: ZAE000015277 Share Code: BRN ISIN: ZAE000015285 (‘Brimstone' or the ‘Company') ANNOUNCEMENT REGARDING THE ACQUISITION OF ADDITIONAL OCEANA SHARES 1. Introduction and details Brimstone shareholders are referred to the announcement released on SENS on 24 January 2019 regarding the acquisition by Brimstone of 8 000 000 Oceana Group Limited (‘Oceana') ordinary shares (‘Oceana Shares') from Tiger Brands Limited (‘Tiger Brands') (the ‘Initial Transaction'). Shareholders are now advised that Newshelf 1064 RF Proprietary Limited (‘Newshelf 1064'), a wholly owned subsidiary of Brimstone, has entered into a conditional but binding agreement to acquire a further 1 500 000 Oceana Shares (‘Additional Oceana Shares') from Tiger Consumer Brands Limited (‘TCB'), a wholly owned subsidiary of Tiger Brands (the ‘Transaction'). The Transaction represents approximately 1.11% of the total Oceana Shares currently in issue and will increase Brimstone's shareholding in Oceana from 22.88% to 23.99%. The effective date of the Transaction will be the first business day after the date of fulfilment of the last condition precedent as set out in paragraph 5 below, which is anticipated to be by no later than 17h00 on Thursday, 11 July 2019 (the ‘Effective Date'). The Additional Oceana Shares will be transferred to Brimstone against payment of the purchase consideration set out in paragraph 4 below. 2.

Dischem Foundation's Million Comforts campaign visits Phefeni Secondary School

The Dis-Chem Foundation launched its annual Million Comforts campaign, where they partner with shoppers and many of the major feminine hygiene brands, to donate millions of sanitary pads to girls who don't have access to them, with the objective of keeping girls in schools. The public can donate sanitary towels between June 17 and July 31 this year to make sure that no girl misses school because of her gender. Committed to changing the lives of all South Africans, the Dis-Chem Foundation has placed branded drop off bins in over 130 Dis-Chem Pharmacies countrywide.

Steinhoff wants ex-CEO Markus Jooste to pay back R850m

Steinhoff International is seeking more than R850 million ($59 million) from former chief executive officer Markus Jooste for his role in the accounting crisis that triggered the retailer's near-collapse. The owner of Conforama in France and Mattress Firm in the US is looking to claw back base salaries, bonuses and other incentives paid to Jooste over several years from 2009, according to legal papers filed to the Western Cape High Court in Cape Town. Ex-chief financial officer Ben la Grange is being sued for about R271 million as part of the same case.

PPC goes Dutch - hires Holcim's Van Wijnen as CEO

- Following a global search, the Board of Directors of PPC Ltd, South Africa's largest cement maker, announced the appointment of Roland van Wijnen as Chief Executive Officer (CEO). The search for a new CEO to succeed Johan Claassen began last November when he announced he was taking early retirement from his position of CEO of PPC. "Considering the specialised nature of the industry, and its challenges, as soon as Johan decided to retire, the board began a process to identify a high calibre candidate, with extensive experience in leading cement companies in cyclical downturns and challenging markets," said PPC Chairperson, Jabu Moleketi.

AFRICAN RAINBOW MINERALS LIMITED - African Rainbow Minerals Limited announces a change to the Board of Directors

Wrap Text African Rainbow Minerals Limited announces a change to the Board of Directors African Rainbow Minerals Limited Incorporated in the Republic of South Africa) (Registration number 1933/004580/06) JSE Share code: ARI ISIN: ZAE000054045 ("ARM" or the "Company") African Rainbow Minerals Limited announces a change to the Board of Directors In terms of paragraph 3.59 of the JSE Limited Listings Requirements, notification is hereby given that with effect from 30 June 2019, Mr Kobus Möller will resign as an independent non-executive director of the Company, to pursue other interests. The Executive Chairman of African Rainbow Minerals (ARM) Dr Patrice Motsepe said: I would like to thank Mr Kobus Möller for his advice and valuable contribution on the ARM Board. I have had the honour of working with Kobus for many years, particularly whilst he was the Finance Director of Sanlam. I wish him everything of the very best. For more information, please contact: Jongisa Magagula Head of Investor Relations and Corporate Development Tel: +27 11 779 1507 E-mail: jongisa.magagula@arm.co.za Johannesburg 26 June 2019 Sponsor: Investec Bank Limited Date: 26/06/2019 05:00:00 Produced by the JSE SENS Department.

Minister must save SA's oil reserves - OUTA

Organisation says unlawful sale of country' soil reserves has placed SA at risk OUTA calls on Minister to save SA's oil reserves 26 June 2019 A Cape High Court case set for Friday is a key move in a chess game that will decide the fate of SA's strategic crude oil reserves worth over R9.38bn billion The Organisation Undoing Tax Abuse (OUTA) is calling on Minister of Mineral Resources, Gwede Mantashe to intervene urgently in a matter set before the Cape High Court this Friday, which may have a significant impact on the fate of SA's strategic crude oil reserves amounting to a current value of R9.38bn.  Between December 2015 and January 2016, South Africa's strategic oil reserves were sold illegally to several companies without due process and with a blatant disregard for any required approval of the boards of directors of both the Central Energy Fund (CEF) and the Strategic Fuel Fund (SFF). The decision to sell off our oil reserves was also done without notifying the Minister of Finance, which is a statutory requirement.  This unlawful transaction has placed South Africa at risk as the country could find itself in a dire situation if faced with unforeseen emergencies. South Africa's strategic oil reserves allow the country the liberty of being self-reliant, and in the case of an emergency, South Africa would be able to meet its daily national petroleum products demand of 704 000 barrels per day.

A New Attitude: UnStereotyping Advertising

As the Women's Decade 2010-2020 of the African Union draws to a close, women the world over are standing firm in their push for gender equality - and they want men to walk and work with them, to change perceptions of how women are viewed, and implement changes right where they are. This is at the very core of the United Nations HeForShe campaign www.heforshe.org - a place where men can feel powerfully emboldened to be part of the movement and the solution. The strides governments are making are laudable, says Anne Githuku-Shongwe, Representative at the United Nations Women South Africa Multi-Country Office. However, the real work of gender equality has to continually happen in our communities, in our thinking, in our advertising and our perceptions of women.

JSE ekes out gains towards the close

Stocks on the JSE struggled for direction on Wednesday as they lacked a catalyst both locally and from international markets.   Stocks in Asia also traded mostly flat aiding to the local index's lack of direction. This trend persisted on major European counters as well as the Dow Jones and S&P 500 indices in the US which opened relatively flat.

SA's FinTech Startup Lulalend Raises R93M

Lulalend co-founders L ulalend has raised a R93 million ($6.5 million) Series A round co-led by IFC and Quona Capital. TechCrunch reported that the South African lender will use the round to build its tech and data team and improve its ability to reach more SMEs in South Africa. "The biggest thing is strengthening our balance sheet so we can access traditional debt funding to grow our loan book," Lulalend's CEO Trevor Gosling told TechCrunch on a call.

AYO has no involvement in PICs internal processes

CAPE TOWN AYO Technology Solutions (AYO) is not privy to the processes within the Public Investment Corporation (PIC) according to the tech companys chairperson Dr Wallace Mgoqi.Mgoqi made this statement after reports that executives at the PIC which has a R4.3 billion investment in AYO were allegedly facing disciplinary action for involvement with the AYO transaction.According to submissions made by PIC executives at the Commission of Inquiry into alleged improprieties at the asset manager the PIC went through its own processes with regard to the AYO transaction and valuation.The PICs portfolio manager of nonconsumer industrials and listed equities Sunil Varghese said the enterprise valuetoearnings before interest tax depreciation and amortisation (EVEbitda) valuation method put AYO Technology Solutions actual value as high as R47 a share at the time of the companys initial public offering.Varghese told the Mpati Commission that EVEbitda was a popular valuation multiple used in the finance industry to measure the value of a company. He said the pricetoearnings (PE) method gave the base case value of R43 a share which was derived from earnings a share of R2.68 a share multiplied by 16 x PE.Varghese also told the Mpati Commission that the PIC assistant portfolio manager Victor Seanie was very familiar with the normalised PE valuation methodology and this was his preferred approach when he valued companies.READ: AYO shares initially valued as high as R47Seanie appeared before the PIC Commission of Inquiry in January where he accused erstwhile chief executive Dr Dan Matjila and suspended chief executive and chief financial officer Matshepo More of disregarding processes with regard to the AYO transaction.This allegation was vehemently denied by More who said there was ambiguity about Seanie testimony and threw the blame back at him saying he was the one who misrepresented what should have been an approval or condonement memo as a disbursement memo.In fact (Seanie) was the compiler of the doc

EXCLUSIVE-Dirty oil crisis over for Russia, but contagion felt on high seas

(Repeats June 25 story) * China bans imports of dirty oil - sources * Most dirty oil struggling to find buyers * Demurrage costs per vessel exceed $1 million * Russia pledges to compensate buyers By Olga Yagova, Dmitry Zhdannikov and Florence Tan MOSCOW/LONDON, June 25 (Reuters) - In the opinion of Russian officials, the oil contamination crisis that disrupted flows from the world's second-largest exporter of crude this spring is long over. But a closer look at a dozen tankers containing dirty Russian oil suggests that for the buyers, the debacle has a long way to run and will cost them hundreds of millions of dollars. Two months since buyers discovered Russia was shipping oil contaminated with organic chloride, which is designed to boost output but can destroy refining equipment, less than half of the tainted crude loaded on tankers has found end-users. More than 1 million tonnes worth around $500 million remains homeless, zigzagging between Europe and Asia. In China, buyers have refused to take dirty Russian oil, forcing trader Vitol to send a cargo back to Europe. The Chinese development has not previously been reported. That means buyers are struggling to place oil even at discounts of $10-15 per barrel - or $10-15 million per regular Suezmax tanker - to the current, regular price of $65 a barrel. "I'm not willing to risk our equipment just for cheap crude," said an oil trader with a North Asian refinery. Buyers have also paid millions of dollars in demurrage charges as tankers are stuck with the dirty oil, preventing ship-owners from sending them on new voyages. Russia has promised to compensate buyers after they file claims post-sale. "The problem is that this oil is often impossible to sell. So how can I file a claim?," a Russian oil buyer said. "Sometimes you ha

The Google Maps fake business listing problem: How to safeguard yourself

We've been told not to trust everything we read on the big, bad interwebs. And yet, when we search for a company or product on Google Maps, we trust that the information we are given are accurate. However, a recent report by Wall Street Journal found that there are approximately 11m businesses falsely listed on the platform.

INGENUITY PROPERTY INVESTMENTS LIMITED - Further announcement regarding a proposed specific repurchase of Ingenuity shares

Wrap Text Further announcement regarding a proposed specific repurchase of Ingenuity shares INGENUITY PROPERTY INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/018084/06) ISIN: ZAE000127411 JSE share code: ING ("Ingenuity" or the "Company") FURTHER ANNOUNCEMENT REGARDING A PROPOSED SPECIFIC REPURCHASE OF INGENUITY SHARES Shareholders are referred to the announcement released on SENS on 17 April 2019 regarding a specific repurchase of 356 062 509 Ingenuity ordinary shares ("Shares") from The Century City Property Investment Trust ("CCPIT"), the Nafco Trust ("NAFCO Trust") and Investec Property Fund Limited ("IPF") for a total consideration of R384 547 509-72 (the "Repurchase"). In this regard, shareholders are advised that the posting of a circular setting out full details of the Repurchase (the "Circular"), incorporating an independent report as prescribed by the Companies Act, No. 71 of 2008, as amended, and a notice convening a general meeting (the "General Meeting") has been delayed and is now expected to be posted to shareholders on or about Monday, 15 July 2019. The updated salient dates and times for the Repurchase and the General Meeting are as follows: 2019 Last day to trade to be entitled to attend, participate and vote at the Monday, 5 August General Meeting Record date to be entitled to attend, participate and vote at the General Thursday, 8 August Meeting Forms of proxy recommended to be received by 09h00 on Tuesday, 13 August General Meeting to be held at 09h00 on Thursday, 15 August Results of the General Meeting to be released on SENS on Friday, 16 August Cancellation and delisting of 356 062 509 Shares on or about Monday, 9 September Notes: 1. All times indicated above are South African times. 2.

Brimstone Investment Says Co's Shareholding In Oceana To Increase From 22.88% To 23.99%

(Reuters) - Brimstone Investment Corporation Ltd : * NEWSHELF 1064 RF PROPRIETARY ENTERED INTO CONDITIONAL AGREEMENT TO BUY FURTHER 1.5 MILLION OCEANA SHARES FROM TIGER BRANDS * DEAL REPRESENTS ABOUT 1.11% OF TOTAL OCEANA SHARES IN ISSUE, WILL INCREASE CO'S SHAREHOLDING IN OCEANA FROM 22.88% TO 23.99% * CONSIDERATION PAYABLE FOR TRANSACTION WILL BE R104.9 MILLION * PURCHASE CONSIDERATION TO BE SETTLED BY NEWSHELF 1064 FROM AVAILABLE FACILITIES AND ADDITIONAL FUNDING TO EXTENT REQUIRED Source text for Eikon: Further company coverage: 2019-06-26 16.

ANC's Prescribed Assets threat worries SA pensions advisors

(Bloomberg) — A plan mooted by South Africa's ruling African National Congress to force retirement funds into investing in specific state-owned companies or government projects could leave pensioners poorer. The ANC in its election manifesto earlier this year said it would investigate using prescribed assets to help foster inclusive economic growth , fund social improvements and diversify the finance industry. A lack of detail as to how this could materialize since it was accepted at the party's policy conference in 2017 has stoked concerns that this could mean forced investments to prop up the country's cash-strapped state-owned companies .

PMA Fresh Connections: Southern Africa bringing together the entire fresh fruit and vegetable supply chain in Cape Town

The 's (PMA's) Fresh Connections: Southern Africa Conference and Trade Show is the only annual event in southern Africa connecting the entire fresh produce supply chain. This year, Fresh Connections: Southern Africa will be taking place from 30 to 31 July in Cape Town at the Century City Conference Centre. Now in its ninth year, Fresh Connections: Southern Africa has proven itself as a key connecting point for global and regional decision-makers from across the entire fresh fruit and vegetable supply chain including retailers, producers, importers/exporters, distributors, wholesalers, service and input suppliers, associations and government officials.

Buyers look to the Cape's smaller towns for a change of pace

| Market & Opinion, MyProperty News > Market & Opinion - 26 Jun 2019 An olive farm in Tulbagh, with magnificent views of the area, is listed through Pam Golding Properties for R89 million. Lazy strolls down tree-lined lanes, sun-dappled gardens, and a weekly market where the vegetables are still dusted in moist brown soil and the person flipping pancakes knows you by name, and that you prefer sugar and not cinnamon. Country living certainly has its own rhythm.

Shoprite Says Invesco Holds 4.895% Of Total Issued Ordinary Shares Of Co

(Reuters) - Shoprite Holdings Ltd: * DISCLOSURE OF DISPOSAL OF SECURITIES BY INVESCO LTD * TOTAL BENEFICIAL INTEREST OF ORDINARY SHARES HELD BY INVESCO REDUCING TO 4.895% OF TOTAL ISSUED ORDINARY SHARES OF CO Source text for Eikon: Further company coverage: 2019-06-26 15.

Better board-committee communication will mitigate risk

Audit committees are an organisation's primary resource for oversight of the financial reporting process, the audit process, the company's system of internal controls and compliance with laws and regulations. However, recent corporate failures and some of the revelations emerging from the Zondo Commission of Inquiry indicate a disconnect between audit committees and boards. My field of speciality is the audit committee space, and it has been my privilege to sit in hundreds of audit committee meetings.

BRIMSTONE INVESTMENT CORPORATION LIMITED - Announcement regarding the acquisition of additional Oceana shares

Wrap Text Announcement regarding the acquisition of additional Oceana shares Brimstone Investment Corporation Limited (Incorporated in the Republic of South Africa) Registration number 1995/010442/06 Share Code: BRT ISIN: ZAE000015277 Share Code: BRN ISIN: ZAE000015285 ("Brimstone" or the "Company") ANNOUNCEMENT REGARDING THE ACQUISITION OF ADDITIONAL OCEANA SHARES 1. Introduction and details Brimstone shareholders are referred to the announcement released on SENS on 24 January 2019 regarding the acquisition by Brimstone of 8 000 000 Oceana Group Limited ("Oceana") ordinary shares ("Oceana Shares") from Tiger Brands Limited ("Tiger Brands") (the "Initial Transaction"). Shareholders are now advised that Newshelf 1064 RF Proprietary Limited ("Newshelf 1064"), a wholly owned subsidiary of Brimstone, has entered into a conditional but binding agreement to acquire a further 1 500 000 Oceana Shares ("Additional Oceana Shares") from Tiger Consumer Brands Limited ("TCB"), a wholly owned subsidiary of Tiger Brands (the "Transaction"). The Transaction represents approximately 1.11% of the total Oceana Shares currently in issue and will increase Brimstone's shareholding in Oceana from 22.88% to 23.99%. The effective date of the Transaction will be the first business day after the date of fulfilment of the last condition precedent as set out in paragraph 5 below, which is anticipated to be by no later than 17h00 on Thursday, 11 July 2019 (the "Effective Date"). The Additional Oceana Shares will be transferred to Brimstone against payment of the purchase consideration set out in paragraph 4 below. 2.

INGENUITY PROPERTY INVESTMENTS LIMITED - Further announcement regarding a proposed specific repurchase of Ingenuity shares

ING 201906260060A Further announcement regarding a proposed specific repurchase of Ingenuity shares INGENUITY PROPERTY INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/018084/06) ISIN: ZAE000127411 JSE share code: ING (‘Ingenuity' or the ‘Company') FURTHER ANNOUNCEMENT REGARDING A PROPOSED SPECIFIC REPURCHASE OF INGENUITY SHARES Shareholders are referred to the announcement released on SENS on 17 April 2019 regarding a specific repurchase of 356 062 509 Ingenuity ordinary shares (‘Shares') from The Century City Property Investment Trust (‘CCPIT'), the Nafco Trust (‘NAFCO Trust') and Investec Property Fund Limited (‘IPF') for a total consideration of R384 547 509-72 (the ‘Repurchase'). In this regard, shareholders are advised that the posting of a circular setting out full details of the Repurchase (the ‘Circular'), incorporating an independent report as prescribed by the Companies Act, No. 71 of 2008, as amended, and a notice convening a general meeting (the ‘General Meeting') has been delayed and is now expected to be posted to shareholders on or about Monday, 15 July 2019. The updated salient dates and times for the Repurchase and the General Meeting are as follows: 2019 Last day to trade to be entitled to attend, participate and vote at the Monday, 5 August General Meeting Record date to be entitled to attend, participate and vote at the General Thursday, 8 August Meeting Forms of proxy recommended to be received by 09h00 on Tuesday, 13 August General Meeting to be held at 09h00 on Thursday, 15 August Results of the General Meeting to be released on SENS on Friday, 16 August Cancellation and delisting of 356 062 509 Shares on or about Monday, 9 September Notes: 1. All times indicated above are South African times. 2.

New mall in Bulgaria part of Hyprop strategy

Hystead, which is 60percent owned by JSE-listed Hyprop Investments, has completed the 12000m² extension to The Mall of Sofia in Bulgaria..

Daily News Brief

Richards Bay, North Coast. photo credit: travelground.com Ndlovu Youth Choir Performs on America's Got Talent Stage Ndlovu Youth Choir's rendition of ‘ My African Dream ', conducted by choir director Ralf Schmitt and composed by South African-born Alan Lazar, aired on US TV on Tuesday night. The Ndlovu Youth Choir's beautiful performance on  America's Got Talent  (AGT) got four nods from all the judges, including Simon Cowell and has thanked fans for supporting their dream.

EOH joins AWS WellArchitected Partner Programme

DURBAN  EOH joined the Amazon Web Services (AWS) WellArchitected Partner Programme to gain the expertise needed to help AWS customers build solutions implement best practices audit workloads and make improvements to their cloud environments at scale. The company is part of a select number of AWS Partner Network (APN) Partners in South Africa to have joined the programme.  EOH has been an APN Partner since 2017 and has invested in its skills and offerings to better provide deep AWS knowledge and handson experience to its customers. The AWS WellArchitected Partner Programme trains APN Partners on how to perform AWS WellArchitected workload reviews. The programme is designed to enable APN Partners to help AWS customers establish good architectural habits eliminate risk and respond faster to changes that affect designs applications and workloads."These reviews not only help identify immediate cost savings they help distinguish the best ways for companies to achieve the business outcomes they are looking for.

TOPS AT SPAR WINE SHOW IS ON IT'S WAY TO PORT ELIZABETH

The TOPS at SPAR Wine Show will be returning to Port Elizabeth from 25 to 27 July and looks set for a dazzling ‘POURformance' at Boardwalk Casino. South Africa's biggest and boldest travelling wine show is WINEding its way to seven cities around the country this year - delivering a grape escape for wine-lovers. Debbie Combrink, CEO of The Wine Show, says, "We are looking forward to sharing an amazing line-up of well-known and as-yet-undiscovered gems from the world-renowned Cape winelands for tasting and buying, entertainment at every turn, interactive edutainment in our popular wine theatres, as well as many other crowd-pleasing attractions such as the ‘Wine Label Design Awards presented by Rotolabel, a chance to win wine for a year with Stellenbosch Vineyards, experience a VIP food pairing with the SA Sommeliers Association, and more." The Boardwalk Casino will be transformed into a space for wine-lovers to indulge their WINEderlust. "With over 50 exhibitors, the show offers something for every wine-lover from novice to aficionado; it's the place to stock up on old favourites and make new discoveries, which can be shipped free of charge with our complimentary ‘Sip ‘n Ship' service," she adds. Industry players who participate in the show to deliver content and build awareness of their roles in the industry, include Core Catering, the SA Sommeliers Association; Platter's Wine Guide; Aware.org (previously ARA); the VinPro Foundation; and Goodfellas.

Rand firmer as trade talk hopes rise, stocks edge up

At 1510 GMT, the rand traded 0.57% firmer at 14.2750 per dollar. Lack of local economic data or political news kept the currency in a narrow range. | JOHANNESBURG - The rand firmed on Wednesday as risk appetite improved after comments from the US Treasury Secretary suggesting progress in a trade deal with China, offsetting disappointment about the size of potential US interest rate cuts. Stocks rose marginally but were held back as bullion shares came under pressure. At 1510 GMT, the rand traded 0.57% firmer at 14.2750 per dollar.

BUSINESS MAVERICK INVESTIGATION: Video Surveillance and Cybersecurity (Part Two): Chinese cyber espionage is a real threat

Chinese surveillance giant Hikvision has sold thousands of security cameras in South Africa and soon Joburg's suburbs will see an unprecedented increase of Hikvision's presence. But their products, along with Huawei and ZTE, face a ban in the United States following rising fears of Chinese cyber espionage. Unlike the US, however, South Africa's State Security Agency - with its own shady past - has enjoyed a close relationship with China's security forces.

BUSINESS MAVERICK OP-ED: Bold policies needed to pull poorest countries out of mire

The global economic mood is souring. At their meeting in Fukuoka, Japan, earlier in June, G20 finance ministers and central bank governors warned that economic growth remains weak, with risks still tilted to the downside. Just a few days before that gathering, the World Bank had lowered its 2019 global growth forecast to 2.6% - the lowest rate in three years - and predicted that growth would remain tepid in 2020-2.

BUSINESS MAVERICK: CEOs in South Africa are quitting their jobs, triggering a succession crisis

CEOs in South Africa are falling like flies — 11 CEOs of JSE-listed companies and business lobby groups have resigned since January 2019. (Image sources: Nastuh Abootalebi / Unsplash / Craig Whitehead / Unsplash / Helloquence / Unsplash) Corporate South Africa has recently been infected by a state-owned enterprise disease. The symptoms of the disease? A high turnover of CEOs in a short space of time.

BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listing

Naspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE's indexes, but fund managers are concerned the effect could, in fact, be the opposite..

BUSINESS MAVERICK: Bullion's current tear offers scant golden opportunity for South African producers

Bullion's spot price is on the up, hitting six-year highs on the prospect of lower US interest rates and rising tensions between Washington and Tehran — a winning combination for gold bulls. South African producers of the precious metal should see rising profits as a result, but there is no golden opportunity for an industry in a serious state of decline. And the ultimate costs to the South African economy may be high, given that Donald Trump's actions are helping to propel gold's run.

BUSINESS MAVERICK INVESTIGATION: Video Surveillance and Cybersecurity (Part Two): Chinese cyber espionage is a real threat

Chinese surveillance giant Hikvision has sold thousands of security cameras in South Africa and soon Joburg's suburbs will see an unprecedented increase of Hikvision's presence. But their products, along with Huawei and ZTE, face a ban in the United States following rising fears of Chinese cyber espionage. Unlike the US, however, South Africa's State Security Agency - with its own shady past - has enjoyed a close relationship with China's security forces.

BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listing

Worries about unintended consequences are dogging the Naspers listing on Euronext Amsterdam in the next few months. (Image: Verne Ho/Unsplash / Naspers logo) Naspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE's indexes, but fund managers are concerned the effect could, in fact, be the opposite.

BUSINESS MAVERICK: Bullion's current tear offers scant golden opportunity for South African producers

Bullion's spot price is on the up, hitting six-year highs on the prospect of lower US interest rates and rising tensions between Washington and Tehran — a winning combination for gold bulls. South African producers of the precious metal should see rising profits as a result, but there is no golden opportunity for an industry in a serious state of decline. And the ultimate costs to the South African economy may be high, given that Donald Trump's actions are helping to propel gold's run..

Listed property looks to shared workspaces to counter office sector glut

Global giant WeWork set to disrupt the sector in SA. South African real estate investment trusts (Reits) are looking to the boom in flexible or shared workspaces internationally as one of the solutions to the glut in the local office property market. Mid-cap Reit Emira is the latest local property counter to enter the shared workspaces scene. It pulled off something of a coup in the space by beating some of its much larger sector peers with the announcement on Monday that it had secured global shared workspaces giant WeWork as a client.

BUSINESS MAVERICK: Obscure company targets coal mining project on Kruger Park doorstep

A little-known company called Manzolwandle Investments wants to start coal mining operations on the doorstep of the Kruger Park's southern border, near Komatipoort. It has already submitted a scoping report, which is an initial assessment of a mining project's viability. Local residents are concerned and it is sure to get on the radar screen of conservationists.

Matjila didn't tell me about Ayo deal, More alleges

The commision of inquiry into impropriety at the Public Investment Corporation (PIC)  heard on Tuesday how the asset manager's former chief executive, Dan Matjila, did not inform suspended acting CEO, Matshepo More of the R4.3-billion transaction between the PIC and Ayo Technology Solutions More told the commission that she was left in the dark by Matjila prior to the transaction being signed. The controversial Ayo deal was concluded in 2017 when the PIC took a 29% stake in the ICT company at R43 a share. Ayo's share price had fallen to R9 at the close of markets on Tuesday. More was chief financial officer at the time of the transaction while Matjila was the CEO.

Amplats shines; Denel can't pay staff; Zimbabwe currency anger; Gold keeps running; Brexit to nail Ireland

On the JSE, mining stocks were the big movers upwards, with Angloplat, Implats and Sibanye all gaining about 5%. A rise in platinum prices has improved prospects for these companies. As Reuters reports, Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by an increased metals price and one-off impairments that weighed on results in the same period a year earlier.

Suspended PIC CFO says involvement in Ayo deal ‘exaggerated'

Matshepo More said she was in the dark about the breaches of PIC processes that led to the approval of the contentious Ayo transaction. Matshepo More, now suspended CFO of the PIC, has strongly distanced herself from the irregular processes that led to the approval of the Ayo Technology Solutions The inquiry heard on Tuesday how More stopped the disbursement of funds in the Ayo The inquiry has heard how the Ayo transaction was in many respects a "foregone conclusion". Former chief executive Dan Matjila signed the irrevocable subscription agreement to purchase R4.3 billion in Ayo shares despite the PIC's investment team raising concerns about due diligence not being done and the deal not being approved by the requisite committee meeting.

BUSINESS MAVERICK: PROGRESSIVE PROSPERITY SERIES: Rebuilding leadership is the first step to delivering on SONA commitment

President Cyril Ramaphosa's State of the Nation Address on 20 June 2019 was remarkable partly for its simplicity, its clear commitment to addressing fundamental quality-of-life challenges, and direct reference to building human and institutional capacity. The SONA was blissfully short on mind-numbing lists of to-do's. The SONA is meant to offer direction and prioritization.

GLOBAL MARKETS-Asia stocks slip after Fed tempers aggressive rate cut expectations

* Asian stock markets: tmsnrt.rs/2zpUAr4 * Fed's Powell, Bullard temper July rate cut expectations * Dollar crawls up from 3-month lows on Fed officials' comments By Shinichi Saoshiro TOKYO, June 26 (Reuters) - Asian stocks slipped on Wednesday and the dollar pulled back from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. Fed Chair Jerome Powell on Tuesday said the central bank is "insulated from short-term political pressures," pushing back against U.S. President Donald Trump's demand for a significant rate cut.

Edcon reduces Resilient's distribution

The real estate investment trust says its 2019 distribution will be at the lower end of previous guidance, partly due to its Edcon exposure. Resilient REIT says its full-year distribution is likely to come in at the lower end of previous guidance after it renegotiated rental agreements with retail group Edcon and due to rising expenses. In a pre-close update, the real estate investment trust said it was only including 59.1% of its basic rental on Edgars, Edgars Beauty and Jet stores in its distributable earnings, which would result in an R11.1 million reduction in distributable earnings for the year to end-June.

We don't need prescribed assets

We need better incentives for private sector investment. The ANC's decision to include in its election manifesto that it would investigate the reintroduction of prescribed assets has caused a great deal of consternation in the investment industry. This is because of the negative impact it would have on asset prices and therefore investor returns. "We are opposed to anything that could lead to suboptimal outcomes for investors," says Janina Slawski, principal investment consultant at Alexander Forbes Investments.

Anglo Platinum flags higher earnings

Shareholders could be in for a bumper payout after the platinum producer changes its dividend policy last year. Anglo American Platinum says it will report a strong rise in half-year earnings thanks to higher rand prices for platinum group metals (PGMs). In a trading statement, the PGMs producer said headline earnings and headline earnings per share (HEPS) for the six months to end-June would be at least 80% stronger than those reported a year ago.

Metrofile to exit non-core business following review

The documents storage business plans to sell or close three businesses and expand its digital services offering. Metrofile plans to exit three non-core businesses and grow its digital services offering following a strategic review of its operations. The documents storage business says term sheets have been signed for the disposal of CSX Customer Services, which operates mostly in the education and public sectors.

Wescoal ‘disappointed' as it reports lower earnings

The coal producer says its second-half performance was impacted by disruptions, including industrial action at its Vanggatfontein mine. Wescoal has reported a sharp drop in full-year earnings following labour disruptions at one of its collieries and a challenging year for the mining sector as a whole. The junior coal producer reported a 13% decrease in mining volumes to 5.9 million tonnes for the year to end-March after production was hampered by strikes and riots at its Vanggatfontein mine, the suspension of the underground mining section at Elandspruit and above average rainfall.

The 10 business lessons learnt through failure

By Jan Badenhorst, CEO of Skills Academy Below, I share the lessons I learned through my many failures in the hopes that other aspiring businessmen and women will feel inspired enough to take the next step towards achieving success. 1. The first step is the hardest One of the biggest lessons I learnt in my career is knowing when to walk away from anything that no longer grows or challenges you.

Business Maverick: Wednesday, June 26: Five Things You Need to Know to Start Your Day

Throwing toys President Donald Trump's announcement of sanctions on Iran's supreme leader, Ayatollah Ali Khamenei, seem to be a tactic aimed at  annoying Iranians  rather than doing any real damage to the country's already battered economy. If that was the idea, it has been a complete success, with state media saying the move has  permanently  closed the diplomatic path. Oil, which had risen strongly on tensions in the region, was  broadly unchanged this morning  as traders do not see much escalation in the latest diplomatic handbags, while looking for more details on a possible  output deal from OPEC+ .

PIC to act against staff over R4bn Ayo deal

The transaction has emerged as one of the most contentious deals being examined at the commission into the Public Investment Corporation.

Business Maverick: South Africa Working on New Oil and Gas Policy to Enable Growth

For South Africa, The finalizing of oil legislation has become more urgent since Total SA announced the first significant deep-water oil find off the coast of South Africa in February. Since the discovery, which has an estimated 1 billion barrels of crude reserves, rival Royal Dutch Shell Plc has bought a stake in exploration blocks in the same area from Anadarko Petroleum Corp. "We need to speedily work to entrench regulatory and policy certainty," Energy Minister Gwede Mantashe said in a speech to parliament in Cape Town on Tuesday.

Business Maverick: Robots May Displace 20 Million Manufacturing Jobs by 2030

Robots are on track to wipe out almost a tenth of the world's manufacturing jobs with the brunt borne by lower-income areas in developed nations, Oxford Economics says. While automation should boost the economy as a whole, it is likely to create greater inequality as employment losses are concentrated in certain industries and countries. Manufacturing could lose 20 million positions by 2030, making the sector 8.5% smaller than "if robots were not remaking the market," according to the research firm's report.

There is no green revolution without tax justice in the EU

Aggressive tax optimisation strategies that allow companies to pay no taxes despite record profits, such as Google, must end, writes Eva Joly The "green wave" recorded during the European elections on May 26 should give Europe momentum. It is now time we oppose our determination to build a social, democratic and ecological Europe, against the withdrawal desires of nationalists and eurosceptics, or the temptations of the status quo offered by conservatives and liberals. The strong mobilisation of young people regarding climate change gives me particular hope for the future. In France and Germany, the Greens were the highest-ranked party among the 18-34 demographic in this election.

African Markets - Factors to watch on June 26

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - GLOBAL MARKETS Asian stocks retreated on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing. MKTS/GLOB WORLD OIL PRICES Oil prices rose more than 1% on Wednesday to their highest in nearly a month as industry data showed U.S. crude stockpiles fell more than expected, underpinning a market already buoyed by worries over a potential U.S.-Iran conflict.

Why are ASEAN CEOs so bullish about the business outlook? | OBG Podcast

To digest and contextualise the results of the survey of over 550 C-suite executives in 6 out 10 ASEAN member states, OBG's Regional Editor for Asia, Patrick Cooke, analysed some of the key findings in a podcast with Ivan Tan, Enterprise Singapore 's Global Markets Director for Southeast Asia. Visit https://oxfordbusinessgroup.com for more details..

Pasteur cares for eyes

Pasteur Eye Hospital opened its doors as the Bloemfontein Eye Centre in 1999. At that time, the hospital was part of the Presmed group, later Afrox Healthcare and even later part of Life Healthcare. At the end of 2011, the hospital became independent and changed its name to the Horizon Eye Care Centre.

First KCC Squash Business League ends

The first season of the Kempton Country Club (KCC) Squash Business League was a resounding success. The games were played at a highly competitive standard and enjoyed by all. The Wednesday night league players decided that should the game reach two all, the deciding game would be played with old wooden rackets, putting a totally different perspective on the modern game of squash.

Young entrepreneur takes barbering to the next level

When Peter Cupido from Ida's Valley, Stellenbosch, swopped his technical assistant job to open his barber shop, he started a community whereby men gather for quality time and a close shave. "I opened my business ‘Peter's Barber Shop' in 2017, but I have been trading for eight years. My interest in barbering started in 2005 when I ran a business from my parents' backyard to earn some extra money.

WATCH: SA Home Loans testifies at the PIC inquiry

NOTE: This livestream has ended. You can watch a recording above. JOHANNESBURG - An executive from SA Home Loans is expected to testify at the PIC inquiry on Wednesday.

Prescribed assets will impact portfolio returns, says Alexander Forbes

A sovereign wealth fund would be an easier pill to swallow for investors. The ANC's 2019 manifesto proposed an investigation to direct the private sector into investing into prescribed assets, with a view of improving a development state model within the country. Fund managers are not keen on the suggestion, while there are questions around why investors would now invest in key SOEs, following the failure of most owing to lack of governance and corruption.

Concerns raised that government could turn to pensions to fund ailing state companies

South African consumers and businesses are still anxiously waiting for the government's next announcement on prescribed assets for pensions. In its election manifesto published in January 2019, the ANC announced that it planned to investigate the introduction of prescribed assets on financial institutions' funds to ‘unlock resources for investments in social and economic development'. Since then there has been a little comment from the government about the status of the plans or how they may be implemented, says South Africa's largest pension fund administrator, Alexander Forbes.

Marcus Says More Equally To Blame For PIC Mess

A screenshot of former Reserve Bank governor Gill Marcus at the PIC inquiry on 28 January 2019. JOHANNESBURG - Former Reserve Bank Governor and commissioner at the Public Investment Corporation (PIC) inquiry Gill Marcus has highlighted that former Chief Financial Officer Matshepo More failed to concede that she and former CEO Dan Matjila bore greater overall responsibility for what happened at the PIC because of the positions they held. More spent a second day on the stand at the PIC inquiry on Tuesday which has been looking into alleged impropriety at the corporation.

Who is Miguel Patricio, and what is he getting himself into?

When Miguel Patricio, former Anheuser-Busch InBev global chief marketing officer, was announced as the next CEO of Kraft Heinz earlier this year, you'd be forgiven for assuming job cuts were coming. After all, both companies are affiliated with penny-pinching Brazilian investment firm 3G Capital, which has a reputation for shuffling executives between its companies. But this time could be different.

BRIEF-Sibanye-Stillwater Announces Strategic Acquisition Agreement With Generation Mining

June 26 (Reuters) - Sibanye Gold Ltd SGLJ.J :* STRATEGIC ACQUISITION AGREEMENT WITH GENERATION MINING TO FURTHER ITS MARATHON PROJECT * GEN MINING WILL ACQUIRE 51% INTEREST IN MARATHON PROJECT AND FORM UNINCORPORATED JV WITH STILLWATER CANADA * AGREEMENT SEES CO GET UPFRONT PROCEEDS AS 3.0 MILLION CANADIAN DOLLARS IN CASH AND 11,053,795 SHARES @ C$0.2714/SHARE IN GEN MINING.

Nigerian court adjourns tax case between MTN and attorney general

A Nigerian judge on Wednesday adjourned until October 29 a case to resolve a $2 billion tax dispute between South African telecoms company MTN Group and Nigeria's attorney general. The attorney general has demanded MTN pay the $2 billion in September. The company has said the tax demand is without merit and the attorney general has exceeded his powers in making the request.

PTM to raise $1.3m for Waterberg DFS

25TH JUNE 2019 BY: MARLENY ARNOLDI CREAMER MEDIA ONLINE WRITEr TSX-listed Platinum Group Metals (PTM) on Tuesday announced its intention to raise $1.3-million in a private placement. The company will sell 1.1-million shares at a price of $1.17 apiece to Hosken Consolidated Investments, which already holds 20.05% of the company's shares. ADVERTISEMENT The proceeds will be used to complete a definitive feasibility study (DFS) for the company's Waterberg palladium/platinum project, in South Africa's Limpopo province, as well as for general corporate and working capital purposes. .

GLENCORE PLC - GLN; Transactions In own Shares-25 June 2019

Wrap Text GLN; Transactions In own Shares-25 June 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 June 2019 Transactions in own shares-25 June 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 June 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 500,000 Lowest price paid per share (GBp): 275.4500 Highest price paid per share (GBp): 281.3500 Volume weighted average price paid per share (GBp): 279.0174 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 901,156,970 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 13,684,543,096. 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 Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volu

Financial Mail editor wins big at Sanlam financial journalist awards

Financial Mail editor Rob Rose has won the Sanlam Financial Journalist of the Year award at an event in Johannesburg. It's the third time Rose has won the award, with the judges commending his ability to "see through the fog of corporate miscreants and illuminate the objective facts". At the event last week, Rose also won the Business and Companies award as well as the Financial Markets category award.

MIDEAST STOCKS-Saudi extends gains while most Gulf markets drop

June 26 (Reuters) - Saudi Arabia's stock market rose on Wednesday, lifted by Advanced Petrochemical, while political concerns continued to weigh on most other Gulf markets. Saudi's index was up 0.4% after snapping a four-day losing streak in the last session. Advanced Petrochemical rose 5.9% after its Advanced Global Investment unit won a Government project to set up petrochemical plants for an estimated cost of $1.8 billion.

Rising US-Iran Tensions Hurt Markets

South Africa The local bourse followed global markets down on Tuesday due to geopolitical risks and uncertainties. The All Share closed 0.70% in the red. United States US indices opened lower on Tuesday, brought down by growing concerns around US-Iran tensions and lagging US-Sino trade discussions.

7 things you need to know today

CAPE TOWN Good morning. This is all the latest business news that you need to know today.  1. Assets grow 8.7% despite weak economy The banking sector experienced a slight decline in profitability in the year to March 31 but despite a weak economy banks grew their assets 8.7percent and remained well capitalised according to the first annual report of the Reserve Banks Prudential Authority (PA) released yesterday.

Nigerian lawyers adjourn tax case with MTN until October

Lagos — On Wednesday, a Nigerian judge adjourned the case to resolve a $2bn tax dispute between MTN Group and Nigeria's attorney-general until October 29. The attorney-general has demanded that MTN pay the $2bn in September. The telecoms company has said the tax demand is without merit and the attorney-general has exceeded his powers in making the request. Lawyers for the government requested the adjournment. Nigeria is MTN's biggest market, with 58-million users in 2018 and accounting for a third of the firm's core profit. But the Nigerian business has faced challenges, ranging from the tax demand to a fine over unregistered SIM cards. MTN Nigeria, the company's local unit, listed in Lagos in May in a 2-trillion naira ($6.5bn) flotation and became the second-largest stock on the bourse by market value.

Five things making headlines in South Africa today

Five things making headlines in South Africa today SA retrenchments on the rise, Denel struggling to pay workers, Omnia results, Zimbabwe raises lending rate, TymeBank CEO resigns. Moneyweb / 25 June 2019 10:11 No comments so far IMPLATS R72.015.03%6/25/2019, 5:16:45 PM STANBANK R201.05-1.05%6/25/2019, 5:16:45 PM TONGAAT R13.216/25/2019, 5:16:45 PM Employees at Denel to receive only 85% of June salary as state-arms dealer faces cash flow issues. Picture: Moneyweb Employees at Denel to receive only 85% of June salary as state-arms dealer faces cash flow issues. Picture: Moneyweb Here's what caught our attention on Tuesday: 1.

Business responds to call for aid

FOLLOWING the devastation caused by the recent flooding and heavy rainfall in and around Durban, the Durban Chamber of Commerce and Industry called on all its members and the local business community at large to mobilise in support of the local communities affected by this natural disaster. The Durban Chamber has received donations and support from members and businesses around the region such as Sumitomo Rubber South Africa, Southern African Shipyards, SPAR South Africa and Lenmed eThekwini Hospital and Heart Centre. Sumitomo Rubber South Africa donated R50 000 towards the #DurbanFloods.

Marcus says More equally to blame for PIC mess

JOHANNESBURG - Former Reserve Bank Governor and commissioner at the Public Investment Corporation (PIC) inquiry Gill Marcus has highlighted that former Chief Financial Officer Matshepo More failed to concede that she and former CEO Dan Matjila bore greater overall responsibility for what happened at the PIC because of the positions they held. More spent a second day on the stand at the PIC inquiry on Tuesday which has been looking into alleged impropriety at the corporation. She has given some explosive revelations including how Matjila signed off on the R4.3 billion payment to Ayo Technologies before consulting with the asset manager's portfolio management committee.

Northam to restart operations at Eland's fully funded Kukama shaft

JOHANNESBURG (miningweekly.com) - Platinum group metals (PGM) mining and marketing company Northam Platinum on Wednesday announced the company's decision to recommence operations in the new 2020 financial year at the Kukama shaft situated at the Eland mine complex in Brits. Total developmental capital expenditure is estimated at R2.2-billion over five years and the project will be fully funded from Northam's own resources. This development follows the conclusion of a feasibility study for the Kukama project.

Markets LIVE: Stocks drop in Europe, Asia as US futures steady

Stocks fell in Europe and most of Asia while US index futures drifted as investors weighed prospects for Federal Reserve policy easing against the backdrop of threats to global growth and lingering trade tensions. The Stoxx Europe 600 index dropped a fourth day, with carmakers among the biggest losers. Futures for the S&P 500 index nudged higher a day after US stocks' largest decline this month following Fed Chairman Jerome Powell's warning that downside risks to the economy have increased.

Entrepreneurs take note: SA is ripe for opportunities in business tourism

Growth in Africa's hotel sector is expected to remain positive over the next five years despite current economic uncertainty and tempered foreign investment… Opportunities are aplenty for business tourism in developing economies with governments taking steps to promote their MICE (meetings, incentives, conferences and exhibitions) infrastructure to attract more business tourists. In addition, Airbnb is also gaining momentum as a mainstream tourist option across the African continent. These are some of the key findings from a report issued today by PwC on Africa's hotel sector. PwC's ninth edition of the Hotels Outlook: 2019-2023 includes information about hotel accommodation in South Africa, Nigeria, Mauritius, Kenya and Tanzania. Pietro Calicchio, Hospitality Industry Leader, PwC Southern Africa says: "While leisure is an important component of the tourism industry, governments are taking steps to develop more diverse initiatives, fueled by business tourism and conferencing.

BI appoints Business Development Leader for wholesale and retail sector

Leading supplier Bearings International (BI) has appointed Kathy Shepherd as Business Development Leader (BDL) - Wholesale and Retail. The latest appointment reflects Shepherd's strong upwards trajectory at BI, which started with her as Germiston Branch Manager in 2013, and East Rand Branch Manager from August 2017. She reports directly to Hudaco Industries GM Shenton Botes.

Why Facebook's libra could be huge in emerging markets

Facebook's libra cryptocurrency has taken a lot of criticism from Western government officials and media commentators — but it's not meant for them. A major target market for libra is users in developing countries. From researching cryptocurrency, blockchain and other technologies in the context of developing countries, I can see that digital payment systems are already attractive.

SA Businesses Have a Challenge Ahead of Them - Creating an Ethical Business Culture

Recently, the results of the South African Business Ethics Survey for 2019 were released by The Ethics Institute (TEI) at an event at the Stellenbosch University Business School, and it certainly didn't pull any punches Revelations indicated a sentiment that many cynics would agree with - that the slick marketing of the business world often hides organisational cultures lacking in ethics, honesty, and integrity. With the report finding that unethical behaviour (often witnessed directly by non-managerial employees) has increased to 31% from 18% in 2009, the report doesn't portray a rosy picture of the SA business sector. In this survey, in which 2,253 respondents took part from 19 private-sector organisations (including banking, finance, medical services, tourism, hospitality, mining, retail, and information/communication organisations) included non-managerial, middle management and executives.

Man gunned down outside Newtown business, JHB

A 47 year old man was shot and killed on the morning of 25 June 2019, outside a business on Quinn Street in Newtown, Johannesburg. ER24 personnel arrived on the scene shortly after 08:00 to find security members and local authorities already in attendance. On further inspection, medics found a man lying on the pavement.

Exxaro says Eskom woes to hit coal production

JOHANNESBURG - Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday. It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply.

South Africa's Exxaro says Eskom woes to hit coal production

JOHANNESBURG, June 26 (Reuters) - South African miner Exxaro Resources expects its coal production to fall by 5% by volume in the first half of 2019, mainly due to reduced demand from struggling state-owned power utility Eskom, it said on Wednesday. It added it expects domestic coal demand and pricing to remain stable for the remainder of the year, but does not see a recovery from the international price/ demand situation. Slowing economic growth in China is weighing on demand expectations for thermal coal in the world's biggest market for the fuel, while global moves towards cleaner energy are compounding problems arising from a glut in supply.

PPC delays results at the 11th hour

The release of the financial statements was delayed ‘to allow for the completion of the review by the company's auditors'.

Business robbery suspect arrested

PORT ELIZABETH - Excellent team work by police members and, keeping an attentive eye out for two stolen vehicles, resulted in their speedy recovery and an arrest of a robbery suspect yesterday, 25 June 2019. It is alleged that on Tuesday, 25 June 2019 at 11:45, approximately 6 males entered the premises of a valet company in Newton Park and held the staff at gunpoint. The staff was shoved in a back office and two vehicles were taken, a Ford Ranger and a Toyota Etios.

BRIEF-Northam Approves Kukama Project At Eland Mine

June 26 (Reuters) - Northam Platinum Ltd NHMJ.J : * JSE: NHM - NHM002 - NORTHAM APPROVES KUKAMA PROJECT AT ELAND MINE * NORTHAM PLATINUM LTD - MINING OPERATIONS AT KUKAMA SHAFT SITUATED AT ITS ELAND MINE COMPLEX WILL RECOMMENCE IN NEW FINANCIAL YEAR* NORTHAM PLATINUM LTD - CONVERSION OF KUKAMA DECLINE SHAFT INTO A FOOTWALL ARRAY WILL START IN F2020, ALONG WITH LIMITED EARLY STOPING * NORTHAM - PRODUCTION AT KUKAMA FORECAST TO REACH 100 KOZ PA 4E BY 2025 AND STEADY STATE PRODUCTION OF 150 KOZ PA 4E IS FORECAST FROM 2029 * NORTHAM - TOTAL DEVELOPMENTAL CAPITAL EXPENDITURE AT KUKAMA PROJECT ESTIMATED AT R2.2 BILLION OVER A FIVE YEAR PERIOD.

UPDATE 1-Nigerian court adjourns tax case between MTN and attorney general

(Adds details, context) By Libby George and Alexis Akwagyiram LAGOS, June 26 (Reuters) - A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between South African telecoms company MTN Group MTNJ.J and Nigeria's attorney general.The attorney general has demanded MTN pay the $2 billion in September. The company has said the tax demand is without merit and the attorney general has exceeded his powers in making the request.

Nigerian court case between MTN, attorney general over $2 bln tax dispute adjourned to Oct 29

LAGOS, June 26 (Reuters) - A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between telecoms company MTN Group MTNJ.J and the country's attorney general.The attorney general demanded South Africa's MTN pay the $2 billion in September. The company has said the tax payment demand is without merit, it does not owe the money and the attorney general exceeded his powers in making the request..

CANADA: Bombardier Sells Regional Jet Business to Mitsubish, Exits Commercial Aviation

Bombardier CRJ regional planes, Uganda Airlines (Reuters) - Bombardier Inc said it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation. Montreal-based Bombardier has been selling off its weaker-performing commercial plane programs aimed at airlines to focus on profitable business jets and passenger rail cars. The company faced a cash-crunch in 2015 while bringing a larger narrowbody jet to market.

New Look losses mount as Brexit, rain keeps shoppers away

British fashion chain New Look reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept many shoppers out of its stores.   New Look, whose largest shareholder is South African investment firm Brait, reported statutory loss before tax of 522.2 million pounds ($666.4 million) for the year ended March, compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound non-cash goodwill and brand impairment charge after a restructuring, New Look said.

Northam's Kukama shaft at Eland to restart in 2020 financial year

Northam Platinum said on Wednesday that the Kukama shaft at its rhodium-rich Eland mine would restart in the new 2020 financial year, a key development in the company's expansion plans. In a statement, the company said the Kukama feasibility study showed the shaft could crank up to steady state production of 150Koz pa 4E and do so "in the lower half of the industry cost curve." It forecast positive free cash flow from year four onwards with 2,800 permanent jobs created - a rare piece of good news on the labour front in the platinum sector, which has been shedding jobs in recent years. The mine's life is over 30 years.

Craven, Grant Khomo Week, marks huge rugby school success

The best provincial schoolboy rugby talent at Youth Week. Scintillating action, and the best provincial schoolboy rugby talent, highlighted the opening day of the u-13 South Africa Rugby Craven Week and the u-16 SA Rugby Grant Khomo Week at High School Rob Ferreira in White River on June 24. The DHL Western Province teams showed massive intent in their performance in both tournaments, with their u-13 side winning 70-12 against ITS Valke and their u-16 team outclassing Boland by a massive margin of 78-7.

Retrenchment on the cards at Cisco

The rolling mill at the Cape Town Iron and Steel Works (Cisco) factory will be closed down. The general manager of operations at Cisco, Heinrich Kriel confirmed the company has started with a restructuring process. Kriel said the rolling mill was operating at a loss and due to market conditions, the decision was made to close it down.

GLOBAL-MARKETS-Stocks gain as trade talk hopes rise, rate-cut pressure ebbs

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh * Fed's Powell, Bullard temper July rate cut expectations * European stocks gain after CNBC fuels trade talk optimism * U.S. futures point to strong open (Recasts to reflect optimism in global stocks, adds quote) By Virginia Furness LONDON, June 26 (Reuters) - European stocks and U.S. equity futures were higher on Wednesday after a report fuelled optimism about progress in U.S.-China trade talks, offsetting disappointment about the size of potential U.S.

Acronis appoints new master distributor for emerging markets

Acronis has appointed Acronis Emerging Markets (AEM) as a new master distributor to increase its focus on, and accelerate growth in, the Latin American and African markets. As part of the agreement, AEM will market and distribute the full range of Acronis cyber protection products in these regions, providing local training and support for partners and service providers. AEM is an independent company led by Garry Kondakov, an IT and cybersecurity veteran with more than 15 years of experience in growing business for various tech companies around the world.

THE EDITORIAL | Big business is letting Cyril Ramaphosa down

Much is often said about the government, the ruling party and their relationship to labour unions and left-leaning groupings, which are said to be holding the country back from meaningful economic reforms. As the debate raged on in parliament yesterday over President Cyril Ramaphosa's State of the Nation Address, one of the central messages coming, especially from the right-wing of the opposition benches, was simple: The president and his government must break with the unions whose "undue influence" means that the country is unable to implement policies that would lead to reduced unemployment and growth in wealth. There are many genuine reasons to criticise the South African labour movement.

Exxaro warns of Medupi hit on coal output and sales volumes

Eskom's troubles continue to plague Exxaro, with the diversified miner cautioning that lower coal demand from the Medupi power station will adversely impact its coal production and sales volumes for the six months to the end of June 2019. The JSE-listed company said in a trade update today that total coal production volumes are expected to decrease by 5% (excluding buy-ins), directly resulting in 4% lower coal sales volumes. However, the commercial impact of the reduced Medupi volumes is mitigated due to the contractual agreement in place, finance director Riaan Koppeschaar said ahead of the release of the company's interim results on or around 22 August 2019.

Business News: Gwede Mantashe says SA attractive to mining investors

-Mineral Resources Minister Gwede Mantashe says that South Afria is an attractive destination for mining investors - He also expressed confidence that the mining sector could be turned around - Several opposition MPs, however, were not convinced PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! Minister of Mineral Resources and Energy Gwede Mantashe says that South Africa is highly attractive to those looking to invest in the mining industry. He made the comments during a joint sitting of the National Assembly on Tuesday to debate Cyril Ramaphosa's State of the Nation Address. However, Mantashe's claim was met with laughter from several MPs.

Nigerian court adjourns case between MTN and attorney general over $2…

LAGOS (Reuters) - A Nigerian judge on Wednesday adjourned until Oct. 29 a case to resolve a $2 billion tax dispute between telecoms company MTN Group and the country's attorney general. The attorney general demanded South Africa's MTN pay the $2 billion in September.

JSE falls as financials and industrials struggle

The JSE fell on Tuesday as losses on the financials and resources indices deepened. The fall on the local bourse was triggered by the fall in Asian markets which closed significantly weaker on Tuesday. The Nikkei dropped a modest 0.43% however the Shanghai Composite Index and Hang Seng fell 1.04% and 1.15% respectively.

Business Facebook Libra: The challenges and implications of the potentially disruptive cryptocurrency

Last week, Facebook unveiled a The currency is due to be launched in the first half of next year and has as its founding partners 28 international companies including Mastercard, PayPal, Xapo Holdings Limited, Naspers, Uber Technologies, Spotify AB and Visa. Facebook is looking to secure 100 partners before the currency is launched to bolster both its credibility and reach. Libra's mission is to enable a simple global currency and financial infrastructure that empowers billions of people.

The Healthy Business Show: Stop, collaborate and listen

Having the right partners with the right resources can make all the difference to your business. What are some of the secret ingredients to solid business relationships? For this week's guests, Mike Anderson, CEO of National Small Business Chamber, and Jos Dirkx, an international consultant and entrepreneur, learning to listen is an important skill in partnerships. Fred Roed speaks to these seasoned entrepreneurs about their personal experiences and the main attributes in attracting lasting business partnerships.

Life sells its Indian business for R3.7bn

DURBAN - JSE-listed private healthcare group Life Healthcare has exited its Indian business, concluding the talks that have lasted for six months by disposing of its 49.7percent stake in India's Max Healthcare for R3.7 billion. The group said it had successfully concluded a share purchase agreement with Radiant Life Care, which was entered on December 24 last year. Radiant acquired the stake for 80 rupees a share, which equals R16.52 a share, and this equates to R3.7bn of net proceeds received after costs, hedges and taxes, which resulted in a profit on disposal of approximately R900million.

Suspended acting PIC CEO More blames Ayo deal on Matjila

JOHANNESBURG - Suspended acting CEO of the Public Investment Corporation Matshepo More said on Tuesday the approval of payment to Ayo Technology by former CEO Dan Matjila was in contravention of the delegation of authority. More was testifying for a second consecutive day at the PIC inquiry into allegations of impropriety. She gave details of the controversial R4.3 billion Ayo Technology deal that's suspected to have been secured through the flouting of procedure.

Dräger completes order for long-duration self-res…

Dräger South Africa has recently completed one of its biggest-ever orders, supplying nearly 700 of its Oxy 6000 self-rescuers to Exxaro. The Oxy 6000 is a long-duration unit designed for use in a number of industries, including mining, and features an innovative ‘Safety Eye' which ensures maximum reliability and efficiency. According to Graeme Matthews, Senior Manager: Mining and Application Driven Market for Dräger South Africa, this sizeable order was secured last year with delivery of the units being completed earlier this year.

MAILE GUNS FOR MASHABA'S WIFE

THE beef between Gauteng's Human Settlements MEC Lebogang Maile and Johannesburg Mayor Herman Mashaba sets to intensify after the MEC accused Mashaba of enriching his wife through alleged corruption. For weeks the two have had words for each other since homes were destroyed by Red Ants in Alex, which the MEC said was the city's fault. Allegations of corruption in the Alexandra Renewal Project (ARP) are the latest in the war of words between the two officials.

PIC Inquiry | Former FCO defends her credibility

It was the second day of testimony at the PIC Inquiry for suspended acting CEO and former CFO, Matshepo More. She continued to defend her credibility, especially when the R4.3 billion investment in Ayo Technology made in 2017, came up. For more news, visit: sabcnews.com.

Zimbabwe's Mnangagwa talks up currency reform but business wary

HARARE (Reuters) - Zimbabwe's President Emmerson Mnangagwa said on Tuesday that a decision to ban the use of foreign currencies was an important step to repair the economy, but local business people and investors were wary a day after the reform was announced. FILE PHOTO: Zimbabwe's President Emmerson Mnangagwa speaks during his meeting with Belarussian President Alexander Lukashenko (not pictured) in Minsk, Belarus January 17, 2019. Natalia Fedosenko/Pool via REUTERS Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in November 2017, is trying to attract investment and lift growth after a litany of failed economic interventions under his predecessor.

Life sells its Indian business for R3.7bn

JSE-listed private healthcare group Life Healthcare has exited its Indian business, concluding the talks that have lasted for six months..

Business Facebook Libra: The challenges and implications of the potentially disruptive cryptocurrency

Last week, Facebook unveiled a The currency is due to be launched in the first half of next year and has as its founding partners 28 international companies including Mastercard, PayPal, Xapo Holdings Limited, Naspers, Uber Technologies, Spotify AB and Visa. Facebook is looking to secure 100 partners before the currency is launched to bolster both its credibility and reach. Libra's mission is to enable a simple global currency and financial infrastructure that empowers billions of people.

Prescribed assets not feasible for benefit funds - Alexander Forbes

Alexander Forbes Investments says the proposed introduction of a prescription requiring investors to invest into specified assets is inefficient and will not result in efficient allocation of capital, but will rather lead to suboptimal investment outcomes. This was the key message expounded at the company's media briefing on prescribed assets, held in Johannesburg, on Tuesday. There has been concern about the potential impact of the possible introduction of prescribed investments for investors, with the African National Congress' 2019 manifesto referring to investigating prescribed assets.

New Look losses mount as Brexit, rains keep shoppers away

INTERNATIONAL - British fashion chain New Look reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept many shoppers out of its stores. New Look, whose largest shareholder is South African investment firm Brait, reported statutory loss before tax of 522.2 million pounds ($666.4 million) for the year ended March, compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound non-cash goodwill and brand impairment charge after a restructuring, New Look said.

Acquisition a major boost to Worley's mining business

The recently completed acquisition by WorleyParsons (now rebranded as Worley) of the Energy, Chemicals and Resources division of Jacobs (Jacobs ECR), represents a major boost to Worley's mining business and will also open significant opportunities for Worley's Global Centre of Excellence for mining in Johannesburg. This is the view of Robert Hull, who now heads the Worley Mining, Minerals & Metals (MM&M) division for Africa. As Hull points out, Jacobs ECR, although probably best known for its dominant presence in the petrochemical and chemical industries, was extremely strong in mining, with some major on-going prestige mining projects in its portfolio which is now inherited by Worley.

Life sells its Indian business for R3.7bn

DURBAN JSElisted private healthcare group Life Healthcare has exited its Indian business concluding the talks that have lasted for six months by disposing of its 49.7percent stake in Indias Max Healthcare for R3.7 billion.The group said it had successfully concluded a share purchase agreement with Radiant Life Care which was entered on December 24 last year. Radiant acquired the stake for 80 rupees a share which equals R16.52 a share and this equates to R3.7bn of net proceeds received after costs hedges and taxes which resulted in a profit on disposal of approximately R900million. Chief executive Dr Shrey Viranna said all conditions precedent to the agreement had been fulfilled and proceeds of the sale had been received.

GLOBAL MARKETS-Gold soars to 6-year high as trade, as Iran tensions mount

(Adds U.S. market open, byline, dateline; previous LONDON) * Wagers on more dovish Fed talk keep yields, dollar down * Gold extends gains as rates and dollar drop By Herbert Lash NEW YORK, June 25 (Reuters) - Gold soared to almost a six-year high on Tuesday on escalating U.S.-Iran tensions and U.S.-Sino trade anxiety, leading traders to pile into safe-haven government debt and to snap up the yen and Swiss franc at the expense of the dollar. Gold has gained 10% in price so far this month, climbing above $1,400 an ounce for first time since August 2013 after briefly touching the psychological barrier on Monday.

Business 9Mobile ignites social media with More Blaze

Nigerians woke up on Friday morning to behold a promotional eye-catching outdoor billboard display at the heart of which are the clichés- ‘Data Is Old School' and - ‘And You Thought Data Was Cool' with a dedicated hashtag #MoreThanJustData. This was cleverly spotted in several locations around the country from Lagos to Ibadan, Abuja, Port Harcourt and beyond. Typically, the out of home (billboard) and Social Media space are two strange bedfellows in Nigeria in that conversation on social media are rarely generated from billboards. This was not the case in this situation as hashtag brought both together.

Multinational clients to benefit from Vodacom Business Africa's strategic repositioning

Vodacom Group (‘the Group') has announced a strategic repositioning of its Vodacom Business Africa operations that will result in three separate share purchase agreements involving its enterprise businesses in Nigeria, Zambia, Angola, Ghana and Cote d'Ivoire. Subject to various regulatory and statutory body approvals, Vodacom will enter into service provider agreements with Synergy Communications in Nigeria, Zambia and Cote d'Ivoire; Internet Technologies Angola (ITA) in Angola and Vodafone Ghana in Ghana. In each of the five Vodacom Business Africa markets, the respective partners will acquire all of the operations and assets held by Vodacom.

Egypt aims to tap debt markets for up to $7 bln in new financial year

LONDON, June 25 (Reuters) - Egypt will tap debt markets for between $4 billion and $7 billion in the coming financial year starting in July and is in talks with the IMF about a non-financial deal to help entice investors, its finance minister said on Tuesday. The country was considering all options for debt instruments, including sukuk, green bonds and Asian currency bonds, Finance Minister Mohamed Maait told Reuters on the sidelines of a conference in London. "This time last year I said we would go for between $4 to $7 billion and eventually we went for $6.2 billion," he said.

PTM to raise $1.3m for Waterberg DFS

TSX-listed Platinum Group Metals (PTM) on Tuesday announced its intention to raise $1.3-million in a private placement. The company will sell 1.1-million shares at a price of $1.17 apiece to Hosken Consolidated Investments, which already holds 20.05% of the company's shares. The proceeds will be used to complete a definitive feasibility study (DFS) for the company's Waterberg palladium/platinum project, in South Africa's Limpopo province, as well as for general corporate and working capital purposes.

Alyssa Milano ends legal spat with former business managers

Actress Alyssa Milano has dropped a legal battle against her former business managers after accusing them of piling up her debt. The Charmed star and her husband David Bugliari were planning for a court showdown with Hellie, Hoffer and Company, LLP, but the case has been dismissed, according to The Blast. The actress' former managers have also tossed their counter-claims against the couple.

Congo-Kinshasa: Tanzania Targets Zimbabwe, Malawi, Zambia and DRC Markets With Dry Port At Mbeya

Dodoma — The Tanzania government, through the Tanzania Ports Authority (TPA), will build a dry port at Inyala in Mbeya, targeting traders in Zimbabwe, Malawi, Zambia and the Democratic Republic of Congo (DRC), the Parliament heard on Monday, June 24, 2019. The Deputy Minister for Works, Transport and Communications, Mr Atashasta Nditiye, told the Parliament that during the 2019-2020, TPA will conduct feasibility study on a 100-acre land where the dry port will be built. "After the feasibility… Read more on AllAfrica.com South Africa Today Africa - Southern Africa Zambia News Disclaimer: The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today.

SA's jobs market gets tight

It's becoming harder to stay employed in South Africa. Don't expect an improvement in the country's employment figures when Statistics South Africa (Stats SA) releases numbers for the first quarter of 2019 later today, with a spate of large companies having announced plans to cut staff since the beginning of the year. Although about 80 000 jobs were added in the last three months of 2018, indications are that there will not be a repeat of this growth. A sluggish economy and an increasingly cost-focused private sector have seen businesses prepare to let go of some of their staff. So far, more than a dozen companies have said that they had reduced their headcount or planned to do so by entering formal retrenchment processes or offering early retirement or voluntary retrenchment packages. Numbers are rising News this week that state-owned diamond mining company Alexkor plans to retrench 238 employees follows sugar and property development group Tongaat Hulett saying that it is looking to let go of 5 000 employees across operations.

BUSINESS MAVERICK: Like the ANC, SA's biggest pension fund manager had two centres of power

The commission of inquiry into allegations of impropriety at the Public Investment Corporation is exploring how the money manager changed its executive structure to give the CEO and CFO more power to make investment decisions. Former PIC boss Dan Matjila occupied the role of both CEO and CIO, and Matshepo More held the CFO role. PIC staff called this the two centres of power..

OUR BURNING PLANET OP-ED: Business media is complicit as we approach the Climate Crisis' tipping point

Newsrooms have failed in their role as watchdog when it comes to the climate story. Editors continue to shove climate change into the environmental and science beats,says the writer.(Imaages: Adobestock and AbsolutVision / Unsplash) The business media has failed in its watchdog role. It cheer-leads those who play by the rules of the economic game that is driving climate change, instead of challenging the rules of the game itself.

BUSINESS MAVERICK: Obscure company targets coal mining project on Kruger Park doorstep

A little-known company called Manzolwandle Investments wants to start coal mining operations on the doorstep of the Kruger Park's southern border, near Komatipoort. It has already submitted a scoping report, which is an initial assessment of a mining project's viability. Local residents are concerned and it is sure to get on the radar screen of conservationists..

Vodacom exits Africa biz services

Vodacom Group has sold Vodacom Business Africa's operations in Nigeria, Zambia and Cote d'Ivoire to Andile Ngcaba's Synergy Communications. The two entities are in the process of concluding the acquisitions, which are subject to the approval of the regulatory authorities within these markets. Vodacom says the transaction supports the Group's enterprise strategy in Africa, which has been refocused to grow and strengthen its core business. It will no longer directly service global enterprise customers in these three markets but will rather continue to operate as a pan African telecommunications networks provider through local relationships, like the one with Synergy Communications.  This acquisition represents a significant milestone in Synergy Communication's quest to be a leading provider of cloud and digitally based services in key markets across sub-Saharan Africa and provides key additional assets in its build out of a regional footprint.

BUSINESS MAVERICK: Like the ANC, SA's biggest pension fund manager had two centres of power

The commission of inquiry into allegations of impropriety at the Public Investment Corporation is exploring how the money manager changed its executive structure to give the CEO and CFO more power to make investment decisions. Former PIC boss Dan Matjila occupied the role of both CEO and CIO, and Matshepo More held the CFO role. PIC staff called this the two centres of power.

BUSINESS MAVERICK: PROGRESSIVE PROSPERITY SERIES: Rebuilding leadership is the first step to delivering on SONA commitment

President Cyril Ramaphosa delivers his State of the Nation Address in Parliament in Cape Town on 20 June 2019. (Photo: Leila Dougan) President Cyril Ramaphosa's State of the Nation Address on 20 June 2019 was remarkable partly for its simplicity, its clear commitment to addressing fundamental quality-of-life challenges, and direct reference to building human and institutional capacity. It may have been short on detail, but it offered direction and prioritisation.

BUSINESS MAVERICK: How likely is the US Fed to disappoint and what can investors do about it?

Over-optimistic and over-extended financial markets could well be disappointed by the US Fed in the months ahead unless the central bank to the world manages to achieve the delicate balance needed to keep growth and financial markets on track. Recommended investment coping strategies range from being incrementally cautious to grinding, pausing, accelerating..

Dirty oil crisis over for Russia, but contagion felt on high seas

* China bans imports of dirty oil - sources * Most dirty oil struggling to find buyers * Demurrage costs per vessel exceed $1 million * Russia pledges to compensate buyers By Olga Yagova, Dmitry Zhdannikov and Florence Tan MOSCOW/LONDON, June 25 (Reuters) - In the opinion of Russian officials, the oil contamination crisis that disrupted flows from the world's second-largest exporter of crude this spring is long over. But a closer look at a dozen tankers containing dirty Russian oil suggests that for the buyers, the debacle has a long way to run and will cost them hundreds of millions of dollars. Two months since buyers discovered Russia was shipping oil contaminated with organic chloride, which is designed to boost output but can destroy refining equipment, less than half of the tainted crude loaded on tankers has found end-users. More than 1 million tonnes worth around $500 million remains homeless, zigzagging between Europe and Asia. In China, buyers have refused to take dirty Russian oil, forcing trader Vitol to send a cargo back to Europe. The Chinese development has not previously been reported. That means buyers are struggling to place oil even at discounts of $10-15 per barrel - or $10-15 million per regular Suezmax tanker - to the current, regular price of $65 a barrel. "I'm not willing to risk our equipment just for cheap crude," said an oil trader with a North Asian refinery. Buyers have also paid millions of dollars in demurrage charges as tankers are stuck with the dirty oil, preventing ship-owners from sending them on new voyages. Russia has promised to compensate buyers after they file claims post-sale. "The problem is that this oil is often impossible to sell. So how can I file a claim?," a Russian oil buyer said. "Sometimes you have a feeling that Russia has moved on

BUSINESS MAVERICK: Like the ANC, SA's biggest pension fund manager had two centres of power

The commission of inquiry into allegations of impropriety at the Public Investment Corporation is exploring how the money manager changed its executive structure to give the CEO and CFO more power to make investment decisions. Former PIC boss Dan Matjila occupied the role of both CEO and CIO, and Matshepo More held the CFO role. PIC staff called this the two centres of power.

Business Maverick: Cotton SA could emerge as a serious contender

Today, Cotton SA is hanging by a thread as local policy failed to stand up to aggressive protectionism measures enforced by trading partners. But some state capital and corporate commitment in setting up a local sustainable cotton cluster might have turned the tide..

Brightoil awaits restructuring plan as business shifts to shipping e-commerce

* Plans to sell rest of its tankers to repay debt * To complete Zhoushan oil storage project before selling a stake * Banking on e-commerce website for shipping industry By Florence Tan SINGAPORE, June 24 (Reuters) - Brightoil Petroleum Holdings Ltd could receive a restructuring proposal from Chinese banks in the third quarter while it sells assets to pay off debt and shifts to becoming a shipping e-commerce platform, a company official said on Friday. Brightoil suspended trading in its shares in October 2017 and has since been snagged in lawsuits brought on by creditors. The company debt's were $1.9 billion, according to a statement to the Hong Kong stock exchange in January, of which $250 million is being claimed by creditors. Overinvestment and credit controls in China landed the company in deep debt, said Stephen Qi, the chief executive officer (CEO) of Brightoil Singapore. Several Chinese banks are carrying out due diligence on Brightoil and "are supporting us in our restructuring efforts," Qi said, but declined to name the banks. The company has sold four of its 15 tankers for $201.6 million and plans to sell the rest of its tankers, which could raise a similar amount, Qi said. Brightoil is unable to sell a stake in its $500 million oil storage and terminal project on an island in Zhoushan in eastern China since it is only 80% completed, he added. "We wanted to sell some shares but the project is not completed so we need additional money to continue," he said, adding that Brightoil may sell part of its stake to a national oil company when the project is finished. Brightoil wholly owns the Zhoushan storage facilities and has a 55% stake in the terminal, a joint venture with the local port company, Qi said. Brightoil is shifting its business model away from oil and gas production and trading by starting a separate e-comm

GLOBAL MARKETS-Dollar falls with yields as more Fed talk awaited

* Asian stock markets : https://tmsnrt.rs/2zpUAr4 * Shares little moved awaiting Sino-US trade talks * Wagers on dovish Fed push down yields and dollar * Gold extends gains as rates and dollar drop By Wayne Cole SYDNEY, June 25 (Reuters) - Asian stocks were left adrift on Tuesday as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while lifting gold to six-year peaks. Equity investors are waiting to see if anything will come of Sino-U.S. trade talks later this week. President Donald Trump is slated to meet one-on-one with at least eight world leaders at the G20 summit in Osaka, including China's President Xi Jinping and Russian President Vladimir Putin.

Business Maverick: Despite climate pledges, G20 coal subsidies rise

Despite promising a decade ago to phase out fossil fuel subsidies, the world s leading economies more than doubled subsidies to coal-fired power plants over three years, putting climate goals at risk, energy researchers said Tuesday..

EDITORIAL: Naspers control structure may deter more critical investors

Full-year performance should make Bob van Dijk's pitch to investors in Euronext Amsterdam easier Bob van Dijk, the Dutchman occupying the corner office at Naspers, should be happy with what the company delivered in the year to March. The company posted a 26% jump in annual earnings, riding once again on the breakneck rise of Tencent. But it is the 14% narrowing of losses at its multitude of private equity style investments in e-commerce platforms that should leave him with an even bigger smile. It is the kind of performance that should make Van Dijk's pitch to investors in Euronext Amsterdam, where the company is due to list the e-commerce ventures in September, easier. Over the past few years, the poor performance in these e-commerce entities had been one of the reasons behind the yawning discount between Naspers market value and that of its stake in Tencent. To investors who are sceptical that e-commerce platforms can sustain and deliver returns to shareholders, Van Dijk can point to at least two consecutive years of narrowing losses.

GLOBAL MARKETS-Dollar falls with yields as more Fed talk awaited

* Asian stock markets : tmsnrt.rs/2zpUAr4 * Shares little moved awaiting Sino-US trade talks * Wagers on dovish Fed push down yields and dollar * Gold extends gains as rates and dollar drop By Wayne Cole SYDNEY, June 25 (Reuters) - Asian stocks were left adrift on Tuesday as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while lifting gold to six-year peaks. Equity investors are waiting to see if anything will come of Sino-U.S. trade talks later this week.

Business Maverick: Trump and Xi to Seal a Deal? Traders Aren't Holding Their Breath

A common view among China investors: there's little chance the two leaders will suddenly reach an agreement and resolve a trade dispute that has weighed on markets over the past year. Most are keeping an emphasis on domestic-focused defensive stocks, though much potential downside is already priced in, while foreign-exchange traders expect a slight weakening in the yuan. Here are a few snippets of views on the Trump-Xi meeting: "Nobody is really expecting anything concrete" - Caroline Yu Maurer "There's a very slim chance that we'll get a solution to the trade issue" - Frank Tsui "We're waiting for things to get worse on a much larger scale before buying the dip" - Brian Chen "Our position is to take a wait and see approach" - Daniel Gerard Trump caught some people  off guard  last week when he tweeted that he was optimistic about the meeting with China's president, with traders rushing to bet on a stronger, more volatile yuan.

South African Markets - Factors to watch on June 25

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday. ECONOMIC EVENTS - No major economic releases. COMPANIES- Omnia Holdings OMNJ.J Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETSSouth Africa's rand slipped slightly on Monday after strong gains last week, as investors waited for direction from this week's Group of 20 summit. Local stocks and government bonds also weakened. .J ZAR/ GLOBAL MARKETS Asian shares were hamstrung by trade worries Tuesday as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while propelling gold prices to six-year peaks.

State capture: How a cash-in-transit business laundered money

donald.lobelo Tue, 06/25/2019 - 06:04 Teaser Media Paragraphs A company trading as a cash-in-transit business was actually a bank. Kalandra Viljoen testified at the state capture inquiry on Monday. Courtesy #DStv403 JOHANNESBURG - A company trading as a cash-in-transit business was actually a bank.

ANGLO AMERICAN PLATINUM LIMITED - Anglo American Platinum trading statement for the six months ending 30 June 2019

AMS 201906250020A Anglo American Platinum trading statement for the six months ending 30 June 2019 ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 (‘Anglo American Platinum' or ‘Company') Anglo American Platinum trading statement for the six months ending 30 June 2019 Anglo American Platinum will release results for the six months ending 30 June 2019 (‘the period') on the Johannesburg Stock Exchange News Service (‘SENS') on 22 July 2019. With reference to the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by at least 20% from those of the previous corresponding reporting period. Anglo American Platinum advises its shareholders that, primarily due to an increase in the rand PGM basket price, headline earnings and headline earnings per share (‘HEPS') for the period will be at least 80% (R2,690 million or 1025 cents per share) higher than that reported for the six months ended 30 June 2018 (the ‘comparative period'). Headline earnings and HEPS for the comparative period were R3,363 million and 1282 cents respectively. Basic earnings and basic earnings per share (‘EPS') will also be at least 180% (R3,922 million or 1,496 cents per share) higher than the comparative period as a result of a higher PGM basket price and once- off impairments in 2018. Basic earnings and EPS for the comparative period were R2,179 million and 831 cents respectively. A further trading statement will be released as soon as the Company has reasonable certainty on the expected HEPS and EPS ranges for the period as required by the Listings Requirements. The forecast financial information on which this trading statement is based has not been reviewed, or reported on, by the Company's external auditors. Johannesburg, South Africa 25 June 2019 Spons

How a cash-in-transit business laundered money #Statecaptureinquiry

A company trading as a cash-in-transit business was actually a bank. Kalandra Viljoen testified at the state capture inquiry on Monday. Her company, Asset Movement Financial Services, transferred millions in cash that may have assisted with money laundering.

Orange Business Services, Cisco in SD-LAN co-innovation

Orange Business Services and Cisco are co-innovating to help customers transform their enterprise local area network (LAN) into more flexible, powerful software defined LANs (SD-LAN). Building on its existing relationship and SD-WAN customer successes, Orange and Cisco will work with customers to develop SD-LAN solutions in its Open Labs program, tailored to address individual customers' business challenges and use cases with network automation, analytics and security. The Orange Open Labs provide a global mix of physical and virtual resources for innovation and development.

SA govt hosts business forum for UAE trade, investment delegation

The government will on Tuesday meet a United Arab Emirates delegation on a trade and investment mission to Johannesburg to garner the knowledge and contacts necessary to do business in South Africa for UAE-based companies. The business forum is a culmination of meetings that began on Sunday with a business exhibition at the Africa Trade Week. Led by the trade promotion department of the UAE ministry of economy, the mission consists of high-ranking business and government delegates from various sectors.

South African Markets - Factors to watch on June 25

ASTRAL:   15,725     0 (0.00%)   25/06/2019 00:00 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday. ECONOMIC EVENTS - No major economic releases. COMPANIES - Omnia Holdings Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETS South Africa's rand slipped slightly on Monday after strong gains last week, as investors waited for direction from this week's Group of 20 summit. Local stocks and government bonds also weakened. GLOBAL MARKETS Asian shares were hamstrung by trade worries Tuesday as expectations of more dovish talk from the Federal Reserve pushed down Treasury yields and the dollar, while propelling gold prices to six-year peaks. WALL STREET The S&P 500 edged lower on Monday as losses by healthcare companies overshadowed gains in the technology sector, while investors awaited U.S. President Donald Trump's meeting with Chinese President Xi Jinping at the G20 summit this week. GOLD Gold prices climbed more than 1% on Tuesday to their highest in six years as the dollar weakened on prospects of monetary easing by the Federal Reserve, while simmering U.S.-Iran tensions drove investors towards the safe-haven bullion. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Former President Jacob Zuma agrees to testify at corruption inquiry. - Poultry producer Astral says government services failing. BUSINESS REPORT - Exodus from Johannesburg Stock Exchange (JSE) will hit earnings.

The Small Business Corner: Face By Geraldi

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.

5 things you need to know in SA business today and the risk of travelling to every country in Africa, according to the US go

The risk of travelling to every country in Africa, according to the US government Reported by Ellen Cranley The US State Department's public travel advisories let Americans know what countries are safe to travel to and which ones they should be wary of. The State Department uses four levels of travel guidance to let Americans know what to expect in each country: Level 1 - Exercise normal precautions; Level 2 - Exercise increased caution; Level 3 - Reconsider travel; and Level 4 - Do not travel. Fourteen countries around the world are designated "do not travel," mostly because of ongoing armed conflicts.

German business confidence ebbs further in June

While German businesses worry about the future, the latest Ifo survey found that they see their current situation as having improved. BUSINESS NEWS - Confidence among German business leaders fell slightly in June, a regular survey showed Monday, continuing a months-long trend analysts blame largely on global trade uncertainty. The Munich-based Ifo institute's monthly barometer fell 0.5 points, to 97.4, in line with forecasts from analysts surveyed by Factset and its lowest level since November 2014.

Uzalo producers claim it's business as usual, despite SABC salary fears

The producers of SABC soapie Uzalo, Stained Glass Pictures, have hit back at reports that cast and crew are "shaken" by the current financial crisis at the SABC and worried that they may not be paid their salaries this month. According to Sunday Sun, the struggle to keep the lights on at the SABC has affected some of the talent at Uzalo, who are allegedly scared that this could result in them not getting paid at the end of the month. Affected staff were apparently informed that the production company was waiting for outstanding payments from the SABC at the start of the month.

It was a dramatic week for financial markets

As had been anticipated in last week's review, markets reacted strongly on various economic indicators and policy decisions last week. ipt> Globally equity markets had rallied strongly as both the European Central Bank's Mario Draghi and the Fed chairperson Jerome Powell gave strong indications that interest rates will start to move lower in a new cycle of downward rates in months to come. Bond rates in reaction had tumbled with the US 10-year bond dipping in below 2.0percent.

BRIEF-Anglo American Announces Rough Diamond Sales Value For De Beers' Fifth Sales Cycle

June 25 (Reuters) - Anglo American PLC AAL.L :* ANGLO AMERICAN PLC - ANNOUNCES VALUE OF ROUGH DIAMOND SALES FOR DE BEERS' FIFTH SALES CYCLE OF 2019, AMOUNTING TO $390 MILLION* ANGLO AMERICAN PLC - OVERALL RETAIL SENTIMENT FOR DIAMOND JEWELLERY IN US REMAINS SOLID-CEO * ANGLO AMERICAN- CHALLENGING ENVIRONMENT IN CHINA, HIGHER THAN NORMAL POLISHED DIAMOND INVENTORIES RESULTED IN A CAUTIOUS APPROACH FROM BUYERS.

Business Maverick: Daimler warns on 2019 profit outlook as diesel issues bite

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Uzalo producers claim it's business as usual, despite 'SABC salary fears'

The producers of SABC soapie Uzalo , Stained Glass Pictures , have hit back at reports that cast and crew are "shaken" by the current financial crisis at the SABC and worried that they may not be paid their salaries this month.  According to Sunday Sun , the struggle to keep the lights on at the SABC has affected some of the talent at Uzalo , who are allegedly scared that this could result in them not getting paid at the end of the month. Affected staff were apparently informed that the production company was waiting for outstanding payments from the SABC at the start of the month.  "This is frustrating. What makes us worried is that each time the SABC announces that they didn't have money, production houses always don't get paid," an insider told the tabloid.

Loeries 2019: Research proves that creativity makes good business sense

While advertising, in general, has been shown to generate sales 70% of the time (which also means that 30% of advertising does nothing at all), two studies by Donald Gunn, who founded the Gunn index of creativity, have shown that 84% of campaigns that are highly-creative and award-winning "met or exceeded their clients' objectives" in terms of business growth. Peter Field, researching the same topic in the United Kingdom, found that "creatively awarded campaigns were 11 times more efficient at generating a market share increase". In his book, The Case for Creativity , the New Zealand-based planning director James Hurman looked at whether creative excellence translates into better return on advertising spend.

OPINIONISTA: Money is the unfair advantage in the business of using law to seek justice

Last week a full Bench of the High Court dismissed former president Jacob Zuma's attempt to appeal their ruling that he was not entitled to receive state funding for his criminal defence. The court ordered Zuma to repay more than R16-million with which taxpayers have funded his attempts to avoid facing trial on corruption charges. When you have R16-million at your disposal, your lawyers can provide you with the kind of muscular legal assistance that ordinary criminal accused persons can only dream of.

BUSINESS MAVERICK: Sad end to talc mine illustrates SA's small business crisis

In his hour-long State of the Nation Address on Thursday, President Cyril Ramaphosa referred to small businesses only twice. In supporting small businesses, he said the government wants to create an enabling operating environment by reducing the cost of doing business and regulatory compliance. However, his promises fell on sceptical ears.

ANGLO AMERICAN PLATINUM LIMITED - Anglo American Platinum trading statement for the six months ending 30 June 2019

Wrap Text Anglo American Platinum trading statement for the six months ending 30 June 2019 ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 ("Anglo American Platinum" or "Company") Anglo American Platinum trading statement for the six months ending 30 June 2019 Anglo American Platinum will release results for the six months ending 30 June 2019 ("the period") on the Johannesburg Stock Exchange News Service ("SENS") on 22 July 2019. With reference to the Listings Requirements of the JSE Limited, companies are required to publish a trading statement as soon as they become reasonably certain that the financial results for the period to be reported on will differ by at least 20% from those of the previous corresponding reporting period. Anglo American Platinum advises its shareholders that, primarily due to an increase in the rand PGM basket price, headline earnings and headline earnings per share ("HEPS") for the period will be at least 80% (R2,690 million or 1025 cents per share) higher than that reported for the six months ended 30 June 2018 (the "comparative period"). Headline earnings and HEPS for the comparative period were R3,363 million and 1282 cents respectively. Basic earnings and basic earnings per share ("EPS") will also be at least 180% (R3,922 million or 1,496 cents per share) higher than the comparative period as a result of a higher PGM basket price and once- off impairments in 2018. Basic earnings and EPS for the comparative period were R2,179 million and 831 cents respectively. A further trading statement will be released as soon as the Company has reasonable certainty on the expected HEPS and EPS ranges for the period as required by the Listings Requirements. The forecast financial information on which this trading statement is based has not been reviewed, or reported on, by the Company's external auditors. Johannesburg, South Africa 25 June 2019 Sponsor Merrill Lynch Sout

The very many lawsuits facing Steinhoff

Strict action will be taken against those who are not complying with the National Minimum Wage Act (NMWA), the department of labour said on Friday. "If we conduct an inspection and find that an employer is not complying with the NMWA, an inspector will try to secure an undertaking from an employer to comply. The undertaking is for 14 days, whereafter if there is still non-compliance the Commission for Conciliation, Mediation and Arbitration will be approached to make an arbitration award to force the employer to comply," said Morgan Mokwana, the department's provincial employment specialist.

ANGLO AMERICAN PLC - Anglo American rough diamond sales value for De Beers' fifth sales cycle of 2019

AGL 201906250009A Anglo American rough diamond sales value for De Beers' fifth sales cycle of 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 25 June 2019 Anglo American rough diamond sales value for De Beers' fifth sales cycle of 2019 Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' fifth sales cycle of 2019, amounting to $390 million. Bruce Cleaver, CEO, De Beers Group, said: ‘While overall retail sentiment for diamond jewellery in the US remains solid, a more challenging environment in China and higher than normal polished diamond inventories in the midstream resulted in a cautious approach from rough diamond buyers during the fifth cycle of 2019.' Cycle 5 2019 (1) Cycle 4 2019 (2) Cycle 5 2018 (provisional) (actual) (actual) Sales value (3) $390m $416m $581m (1) Cycle 5 2019 provisional sales value represents sales as at 24 June 2019. (2) Cycle 4 2019 actual sales value is restated following the earlier publication of a provisional figure for the fourth sales cycle of 2019. (3) Sales values are quoted on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle. For further information, please contact: Media Investors UK UK James Wyatt-Tilby Paul Galloway james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718 Marcelo Esquivel Robert Greenberg marcelo.esquivel@angloamerican.com robert.greenberg@angloamerican.com Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124 South Africa Emma Waterworth Pranill Ramchander emma.waterworth@angloamerican.com pranill.ramchander@angloamerican.com Tel: +44 20 7968 8574 Tel: +27 (0)11 638 2592 Si

PSCC business day winners laughing all way to bank

There was some very good scoring in the recent business day at Port Shepstone Country Club, which was sponsored by Nedbank Private Wealth. Winners were Allan Rowley, Bruce Holmes, Thys Eckhout and a ghost on 95 points. ALSO READ :  Eddie Fann turns it on They counted out Jaco van der Wal, Piet Fourie, Deon Meyer and Johan Neethling.

BRIEF-Anglo American Platinum Sees HY Headline Earnings & HEPS To Be 2,690 Mln Rand

June 25 (Reuters) - Anglo American (LON:AAL) Platinum Ltd AMSJ.J : * JSE: AMS - ANGLO AMERICAN PLATINUM TRADING STATEMENT FOR THE SIX MONTHS ENDING 30 JUNE 2019 * ANGLO AMERICAN PLATINUM LTD - SEES HY HEADLINE EARNINGS & HEPS WILL BE AT LEAST 80% (R2,690 MILLION OR 1025 CENTS PER SHARE) HIGHER THAN LAST YEAR* ANGLO AMERICAN PLATINUM SEES HY BASIC EARNINGS AND BASIC EPS AT LEAST 180% (R3,922 MILLION OR 1,496 CENTS PER SHARE) HIGHER THAN LAST YEAR* ANGLO AMERICAN PLATINUM LTD - SEES HIGHER HY HEPS DUE TO INCREASE IN RAND PGM BASKET PRICE.

ANGLO AMERICAN PLC - Anglo American rough diamond sales value for De Beers' fifth sales cycle of 2019

Wrap Text Anglo American rough diamond sales value for De Beers' fifth sales cycle of 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 25 June 2019 Anglo American rough diamond sales value for De Beers' fifth sales cycle of 2019 Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' fifth sales cycle of 2019, amounting to $390 million. Bruce Cleaver, CEO, De Beers Group, said: "While overall retail sentiment for diamond jewellery in the US remains solid, a more challenging environment in China and higher than normal polished diamond inventories in the midstream resulted in a cautious approach from rough diamond buyers during the fifth cycle of 2019." Cycle 5 2019 (1) Cycle 4 2019 (2) Cycle 5 2018 (provisional) (actual) (actual) Sales value (3) $390m $416m $581m (1) Cycle 5 2019 provisional sales value represents sales as at 24 June 2019. (2) Cycle 4 2019 actual sales value is restated following the earlier publication of a provisional figure for the fourth sales cycle of 2019. (3) Sales values are quoted on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle. For further information, please contact: Media Investors UK UK James Wyatt-Tilby

MIDEAST STOCKS-Most Gulf markets drop after U.S. slaps new sanctions on Iran

June 25 (Reuters) - Major Middle East stock markets mostly fell on Tuesday after the United States imposed sanctions on Iran's leadership, a move Tehran said closed the door to diplomacy. U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, taking a dramatic, unprecedented step to increase pressure on Iran after Tehran downed an unmanned American drone.

Amplats expects 80% jump in half-year earnings

On the back of increased metals price and one-off impairments that weighed on results in the same period a year earlier. Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by an increased metals price and one-off impairments that weighed on results in the same period a year earlier. Amplats said headline earnings for the six months ending June 30 were expected to be R2.69 billion more than the R3.363 billion earnings reported in the same period a year ago. Amplats is expected to report its half-year results in July, 22..

TELKOM SA SOC LIMITED - Dealing in Securities by a Director

Wrap Text Dealing in Securities by a Director Telkom SA SOC Limited (Registration number 1991/005476/30) JSE share code: TKG JSE Bond code: BITEL ISIN: ZAE000044897 ("Telkom" or "the company") DEALING IN SECURITIES BY A DIRECTOR In compliance with section 3.63 to 3.65 of the Listings Requirements of the JSE Limited ("Listings Requirements"), we hereby advise shareholders of the following dealings by a director, following the vesting of options in terms of the company's share scheme. Name of director: Sipho Nkosinathi Maseko Company: Telkom SA SOC Ltd Date of transaction: 20 June 2019 Nature of transaction: Disposal following the vesting of 112 368 shares which vested on 03 June 2019 at R 93.72 per share Number of shares: 112 368 Highest price per share: R 98.24 Lowest price per share: R 95.30 Volume weighted average price per share: R 96.1175 Total value: R 10 800 531.24 Class of securities: Ordinary shares Nature and extent of director's interest: Direct beneficial The above transaction was done on market. Clearance to deal was received in terms of paragraph 3.66 of the Listings Requirements. Centurion 25 June 2019 Sponsor The Standard Bank of South Africa Limited Date: 25/06/2019 09:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

South Africa's rand firmer as dollar falls on rate cut bets

JOHANNESBURG, June 25 (Reuters) - South Africa's rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by U.S. and eurozone central banks. At 0730 GMT the rand ZAR=D3 was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600. Selling in the dollar has accelerated since the U.S. Federal Reserve last week signalled it would cut interest rates before year-end on mounting worries about the fallout from U.S.

KPMG auditor banned for State Capture; SA tourism surges; Gold soars; Zim Dollar Back

By * A KPMG auditor has been barred from accounting work for his role in the state capture scandal. KPMG senior employees were key Jacob Zuma allies, helping the former president's friends, the Gupta brothers, tap into state coffers and dodge tax. KPMG accountants attended the lavish Gupta wedding at Sun City in 2013, and they were also involved in fabricating a report to discredit corruption busters at the South African Revenue Services.

WATCH: Rand struggles against the dollar

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Multinational clients to benefit from Vodacom Business Africa's strategic repositioning

. Vodacom Group announced a strategic repositioning of its Vodacom Business Africa operations that will result in three separate share purchase agreements involving its enterprise businesses in Nigeria, Zambia, Angola, Ghana, and Cote d'Ivoire. Subject to various regulatory and statutory body approvals, Vodacom will enter into service provider agreements with Synergy Communications in Nigeria, Zambia, and Cote d'Ivoire; Internet Technologies Angola and Vodafone Ghana. In each of the five Vodacom Business Africa markets, the respective partners will acquire all of the operations and assets held by Vodacom.

Higher metal prices fire up Anglo American Platinum profit

Headline earnings for the half year will be at least 80% better Anglo American Platinum says earnings in the six months to end-June will leap by at least 80% thanks to higher platinum-group metals (PGM) prices in rand terms. In dollar terms, platinum prices have edged up 2.4% in the year to date, according to Iress data. That compares to an 11.5% gain in the gold price. But palladium prices have more than doubled over the past three years. Together with the weak rand and higher rhodium prices, this has given PGM producers a boost so far in 2019. Anglo American Platinum, which says it will publish its interim results on July 22, said on Tuesday headline earnings for the half-year period will be at least 80% higher than a year before. This was "primarily due to an increase in the rand platinum-PGM basket price". The miner reported headline earnings of R3.4bn in the prior interim period. Anglo American Platinum's shares were 3.2% up at R843.82 in early trade on Tuesday.

Pleasing Orion bankable points to fast project payback

24TH JUNE 2019 BY: MARTIN CREAMER CREAMER MEDIA EDITOR SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ JOHANNESBURG (miningweekly.com) - Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS calculates payback at 2.9 years from the start of production from the underground mine. ADVERTISEMENT "We're delighted with the results," said Orion CEO Errol Smart of the Prieska project BFS, which shows an all-in-sustaining margin of 44% over the first ten years, when 20.8-million tonnes of material will be mined and processed. Exceptional opportunities are also presenting themseles for future growth. ADVERTISEMENT Peak funding of A$378-million incorporates costs for opencast mining, which is planned at the end of the first ten foundation years. Completed mining right documents are awaiting approval and discussions with a number of South African and foreign banks are at an advanced stage. "We're at the point where we're starting to exchange draft term sheets on some of the money, which is very encouraging," Smart told Mining Weekly Online in an interview. At the moment, somewhere between 60% and 70% of the R4-billion capital required will come from debt and the balance from equity or equity equivalents. The company's new black economic empowerment (BEE) partners are providing strong support and consideration is being given to taking up the opportunity to procure brand new mills and winders at a significant discount to market. The Sydney- and Johannesburg-listed company earlier this year did a BEE transaction with a difference, when its BEE partners invested at a premium to market. This coincided with a move to strengthen the Orion board, involving the appointment of former Anglo American executive Godfrey Gomwe and former BHP Billiton exec

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Property Portfolio - STXPRO

Wrap Text Rebalancing Of The Satrix Property Portfolio - STXPRO SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX PROPERTY PORTFOLIO JSE Code: STXPRO ISIN: ZAE000240131 ("Satrix Prop" or the "ETF") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIX PROPERTY PORTFOLIO Notice is hereby given that the quarterly review of the FTSE/JSE Prop Index has resulted in a rebalancing of the Satrix Prop ETF Portfolio. There have been changes to the Satrix Prop constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight ATT Attacq Limited 3.85% 3.55% AWA Arrowhead Properties A 1.43% 1.31% Capital&Counties Prop CCO pl 5.50% 4.31% CRP Capital & Regional Plc 0.11% 0.00% DLT Delta Property Fund Ltd 0.29% 0.39% EMI Emira Property Fund Ltd 2.10% 2.20% EPP Echo Polska Prop N.V. 2.41% 2.78% EQU Equites Prop Fund Ltd 3.46% 4.07% FFA Fortress Inc Fund Ltd A 7.91% 9.00% FFB Fortress Inc Fund Ltd B 3.86% 4.26% GRT Growthpoint Prop Ltd 9.82% 10.19% HMN Hammerson plc 2.52% 2.16% HYP Hyprop Inv Ltd 6.84% 6.65% ITU INTU PROPERTIES PLC 6.24% 4.37% MSP MAS Real Estate Inc. 3.06% 3.02% NRP NEPI Rockcastle PLC 9.93% 10.13% OCT Octodec Invest Ltd 1.10% 1.06% RDF Redefine Properties Ltd 10.00% 10.11% Rebosis Property Fund REB Lt 0.33% 0.15% RES Resilient Prop Inc Fund 6.93% 7.83% Redefine International RPL P 1.55% 1.26% SAC

It's becoming harder to stay employed in South Africa

Don't expect an improvement in the country's employment figures when Statistics South Africa (Stats SA) releases numbers for the first quarter of 2019 later today, with a spate of large companies having announced plans to cut staff since the beginning of the year. Although about 80 000 jobs were added in the last three months of 2018, indications are that there will not be a repeat of this growth. A sluggish economy and an increasingly cost-focused private sector have seen businesses prepare to let go of some of their staff.

Suspended Acting CEO Matshepo More To Continue Testimony At PIC Inquiry

Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More was expected back on the stand at the inquiry into the corporation on Tuesday to reveal more details on the running at the PIC and respond the allegations against her. More started her testimony on Monday where she denied interfering in the work of the commission; the allegation that led to her suspension. She has also denied victimising any of the employees of the PIC. More said all she did was propose to the board to appoint an external legal firm to assist employees on a voluntary basis in preparing their statements for the commission. She has told the commission that a month before she was notified of her precautionary suspension, the evidence leader advised her to seek special leave. She said he told her he was giving her fatherly advice because of the complaints he had received against her. More said she decided not to act until there were direct allegations against her but she was suspended by the board without receiving any formal complaints. She would continue her testimony on Tuesday morning on the allegations of victimisation against her. She was also expected to give details on remuneration and incentives at the PIC and the role she played in the Ayo Technologies transaction. She was appointed acting CEO at the end of the last year after her controversial predecessor, Dan Matjila, was sacked. But her stint was short lived as she was suspended in March this year after allegations she interfered in an inquiry into impropriety at the fund manager, which is worth R2 trillion. More's testimony got off to a slow start on Monday morning, with commissioners questioning her on her role at the PIC, its memorandums of incorporation and the power dynamics at the corporation during her time. She listed for the commission the specific areas her testimony would cover. Chief of these were the allegations that she interfered with the work of the commission. "I categorically deny that I have done anything that interfer

Man shot-and-killed outside a business in Newton

A 47-year-old man was shot-and-killed this morning outside a business on Quinn Street in Newtown, Johannesburg. ER24 personnel arrived on the scene shortly after 08h00 to find security members and local authorities already in attendance. On further inspection, medics found a man lying on the pavement. Assessments showed that the man had sustained several gunshot wounds and showed no signs of life. Unfortunately, nothing could be done for him and he was declared dead. The details surrounding this incident are not yet known but local authorities were on the scene for further investigations.....

Facebook reveals crypto-currency plans

Facebook reveals crypto-currency plans The global crypto-currency, Libra, is part of the company's effort to expand into digital payments. Read time 5min 20sec chevron_left Facebook's Libra announcement dominated the international ICT market last week. At home, Naspers was very much in focus. Key local news Mixed year-end figures from Naspers, with revenue up 16.1% but profit down 38.7%. A full-year loss from MultiChoice Group, although revenue up 5.6%. A positive trading update from PBT Group. Naspers Foundry made a R30 million first investment in South African tech start-up SweepSouth, an online cleaning services platform that connects clients with domestic cleaners. Bolt, the ride-hailing platform formerly known as Taxify, unveiled Bolt for Business, a service that allows companies to manage and pay for corporate trips. Naspers' new company to be floated in The Netherlands is called Prosus. Key African news Internet Technologies Angola acquired Vodacom's business unit operations in Angola. Synergy Communications bought Vodacom Group's business unit operations in Nigeria, Zambia and Cote d'Ivoire. Vodafone Ghana purchased Vodacom's business unit operations in Ghana. The appointments of Sahem Azzam as VP in the MEA region for Orange Business Services; and Feras Zeidan as head of Mitel's MEA operations. Key international news Accenture acquired Deja vu Security, a privately held company that specialises in security design and testing of enterprise software platforms and IOT technologies. Amazon's Twitch bought UK-based Bebo, one of the earlier platforms to let people share their thoughts and media with their friends, for $25 million. Naspers Foundry made a R30 million first investment in South African tech start-up SweepSouth. Cognizant purchased Zenith Technologies, an Ireland-based privately held life sciences manufacturing technology services company. Iron Mountain acquired InfoZafe, a provider of document storage and information destruction to public and private

The very many lawsuits facing Steinhoff

Legal action aimed at the embattled company includes class actions lawsuits across different jurisdictions. Steinhoff, together with certain subsidiaries, is facing a proliferation of legal actions including class actions across different jurisdictions. The material uncertainty with respect to this litigation resulted in a disclaimer of audit opinion from the external auditor.

A ‘Winederland' experience

The most important dates on the Capetonian wine lover's calendar are three weeks away, when the Tops at Spar Wine Show returns to GrandWest from Thursday 11 to Saturday 13 July, delivering a three-day ensemble of wine-centred activities. Renowned for giving wine lovers the chance to sample their way through some of SA's premium wine farms (this year showcasing over 80 brands), the Tops at Spar Wine Show also offers interactive presentations on wine in all its glory, the ever exciting South African Wine Tasting Championships (the "Search for a Supertaster" in which anyone can contend), and the esteemed Wine Label Design Awards presented by Rotolabel - but that's not all! There's also the chance to win wine for a year, courtesy of Stellenbosch Vineyards. Some of the highlights of the show include the #SAwineShowcase theatre experience, featuring entertaining and informative sessions by the one and only Jon Meinking.

Most Gulf markets drop after U.S. slaps new sanctions on Iran

June 25 (Reuters) - Major Middle East stock markets mostly fell on Tuesday after the United States imposed sanctions on Iran's leadership, a move Tehran said closed the door to diplomacy. U.S. President Donald Trump targeted Iranian Supreme Leader Ayatollah Ali Khamenei and other top Iranian officials with sanctions on Monday, taking a dramatic, unprecedented step to increase pressure on Iran after Tehran downed an unmanned American drone. Iran said on Tuesday that U.S. sanctions imposed on Supreme Leader Ayatollah Ali Khamenei and other top officials in the country permanently closed the path to diplomacy between Tehran and Washington. Saudi Arabia's share index was down 0.2% in early traded, dropping for a fifth straight session.

Global Markets Nervous Ahead of US-China Trade Talks

South Africa The local market started the week slow, weighed down by banks, retailers and investor fears that the US-Sino war could escalate further before improving. Shortly after the closing bell, the All Share stood 0.31% in the red. United States US shares opened slightly higher on Monday due to a good performance by technology shares and as investors waited for the tariff meeting between the US and China to be held later this week at the G20 Summit.

WATCH: Rand struggles against the dollar

JOHANNESBURG - The South African rand struggled yesterday after having benefited from broad-based dollar weakness as traders digested last week's dovish Fed statement - which opened the door to a rate cut at next month's meeting according to NKC Research. In the near term, directional guidance on US trade policy -a source of volatile risk sentiment - will be informed by the G20 summit, which will take place later this week, as well as ongoing geopolitical concerns as the US threatened more sanctions on Iran. At the close of local trade, the rand quoted 0.4 percent weaker at R14.35/$, after trading in range of R14.24/$ - R14.40/$.

Rand firmer as dollar falls on rate cut bets

The rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by US and eurozone central banks. At 0730 GMT the rand was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600. Selling in the dollar has accelerated since the U.S.

WESCOAL HOLDINGS LIMITED - Condensed consolidated results for the year ended 31 March 2019

Wrap Text Condensed consolidated results for the year ended 31 March 2019 Wescoal Holdings Limited Incorporated in the Republic of South Africa (Registration number: 2005/006913/06) Share code: WSL ISIN: ZAE000069639 ("Wescoal" or "the company" or "the group") Condensed consolidated results for the year ended 31 March 2019 Laying the foundation to grow sustainably Salient features - Revenue increased by 12% to R3.965 billion (2018: R3.527 billion) - Cash flow generation increased by 23% to 106 cents per share (2018: 86 cents per share) - Cash flow generated from operations increased by 29% to R462.2 million (2018: R358.8 million) - EBITDA decreased by 15% to R456 million (2018: R538 million) - Secured long-term debt funding of R1.1 billion - Mining volumes decreased by 13% to 5.9 million tonnes (2018: 6.8 million tonnes) - Gross profit decreased by 18% to R461.6 million (2018: R565 million) - Total comprehensive income decreased by 56% to R88.2 million (2018: R202 million) - Net debt reduced during the year by 41% to R269 million enabling Wescoal to commit R335 million to pursuing its growth strategy - HEPS decreased by 62% to 17.5 cents per share (2018: 46.4 cents per share) - EPS decreased by 58% to 20.2 cents per share (2018: 48.1 cents per share) "It has been a tough and challenging year for Wescoal and the mining sector as a whole. The second half performance was weaker than the first half and overall, we are disappointed with the results. The Vanggatfontein mining contractor changeover announced late last year subsequently led to labour disruptions with an adverse impact on production and overall performance.

It's an issue of principals

Youth Entrepreneurship Programme celebrates top graduate - about 1 hour ago Collision leaves two critcially injured as one vehicle goes up in flames - 18 hours ago Watch: MMC Nico de Jager says there won't be any shortage of water during the planned water maintenance - 23 hours ago Three illegal firearms found at Golf Club - June 23, 2019 Robbers of victim's forex at Sandton hotel sought - June 16, 2019 JUST IN: One suspect escapes after shootout with police on William Nicol - June 12, 2019 House robber in custody after Kelvin homeowner fights back - June 11, 2019 No one was successful in voting more than once - IEC - May 10, 2019 Update: Gauteng province on a knife edge as vote counting reaches 75% - May 10, 2019 LIVE UPDATES: IEC has finalised results of 8.9 million votes so far - May 9, 2019 IEC probes serious claims of multiple voting - May 9, 2019 Anticipation builds at National Results Operation Centre in Pretoria - May 8, 2019 Redhill celebrates Youth Day with annual festival - June 22, 2019 St Stithians College hosts social cohesion conference - June 21, 2019 Brescia House learners give back to community - June 19, 2019 Bryanston Primary learners host Cup-4-Cancer to help raise money for CHOC - June 15, 2019 Saints learners host ‘mini-Comrades' to raise money for cancer research - June 15, 2019 South African artist Sho Madjozi wins BET Award - 20 hours ago SONA 2019: Highlights from President Cyril Ramaphosa's speech - June 21, 2019 Tech Thursday: The latest developments around WhatsApp and Facebook - June 20, 2019 Tomorrow is the winter solstice in the Southern Hemisphere - June 20, 2019 6 Things you need to know about SONA 2019 - June 19, 2019 United Copiers' turns office printing green - June 21, 2019 Grand opening of Engen MyCiti in Sandton - June 14, 2019 ENGEN PITCH & POLISH - OPENING DOORS FOR 10 YEARS! - June 14, 2019 SPAR WOMEN's challenge - June 11, 2019 Searching for the face of the SPAR Challenge - June 11, 2019 Governments must regulate soc

Jaws of Life used to free man from wreckage

At 05H51 Tuesday morning Netcare 911 responded to reports of a collision on the N1 North corner of William Nicol Drive. Reports from the scene indicate that the driver of a light delivery vehicle drove into the back of a heavy motor vehicle. Paramedics assessed the scene and found that the driver of the bakkie had sustained serious injuries and was entrapped in the wreckage.

South Africa's rand firmer as dollar falls on rate cut bets

ANGLOPLAT:   84,511     +2761 (+3.38%)   25/06/2019 00:00 JOHANNESBURG, June 25 (Reuters) - South Africa's rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by U.S. and eurozone central banks. At 0730 GMT the rand was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600. Selling in the dollar has accelerated since the U.S. Federal Reserve last week signalled it would cut interest rates before year-end on mounting worries about the fallout from U.S. President Donald Trump's trade disputes with China and others. In stocks, Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by rising metals prices and one-off impairments that weighed on results in the same period a year earlier. Gold prices climbed more than 1% on Tuesday to their highest in six years as U.S.-Iran tensions drove investors towards the safe-haven. The Johannesburg Stock Exchange's Top-40 Index was down 0.15% in early trade at 52,683 points. Bonds were firmer ahead of a weekly auction of long-term Treasury issues.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Quality Portfolio - STXQUA

Wrap Text Rebalancing Of The Satrix Quality Portfolio - STXQUA SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX QUALITY PORTFOLIO JSE code: STXQUA ISIN code: ZAE000247987 ("Satrix Quality") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 Previous New Code Share weight weight AFH Alexander Forbes Grp Hld 0.33% 0.00% AIP Adcock Ingram Hldgs Ltd 0.55% 0.00% AMS Anglo American Plat Ltd 0.00% 5.16% ARI African Rainbow Min Ltd 1.65% 1.88% ARL Astral Foods Ltd 1.06% 0.80% ASR Assore Ltd 1.91% 2.05% AVI AVI Ltd 4.44% 3.95% CLS Clicks Group Ltd 7.38% 7.65% CML Coronation 2.00% 2.16% CPI Capitec 9.57% 0.00% CSB Cashbuild Ltd 0.80% 0.70% GND Grindrod Ltd 0.50% 0.00% IPL Imperial Holdings Ltd 1.55% 2.11% JSE JSE Ltd 1.45% 1.44% KIO Kumba Iron Ore Ltd 3.11% 3.51% LBH Liberty 0.00% 1.51% MRP Mr Price Group Ltd 7.97% 9.25% NPN Naspers Ltd -N- 10.93% 9.85% OMU Old Mutual Limited 9.76% 9.81% PGR Peregrine Holdings Limit 0.47% 0.00% PIK Pick n Pay Stores Ltd 3.80% 0.00% RLO Reunert Ltd 1.39% 0.00% QLT Quilter Plc 0.00% 4.08% RMH RMB Holdings Ltd 5.21% 6.76% S32 South32 Limited 0.86% 0.99% SLM Sanlam 9.65% 0.00% SNT Santam 1.57% 0.00% SBK STANDARD 0.00% 10.24% TRU Truworths Int Ltd 4.23% 4.56% TBS Tiger Brands Lt

Massive display of rugby talent at Youth Weeks on Day 1

Scintillating action and the best provincial schoolboy rugby talent highlighted the opening day of the Under-13 SA Rugby Craven Week and Under-16 SA Rugby Grant Khomo Week at High School Rob Ferreira in White River on Monday. The DHL Western Province teams showed massive intent in their performance in both tournaments, with their Under-13 side winning 70-12 against ITS Valke and their Under-16 team outclassing Boland to the tune of 78-7. The Bidvest Waltons Golden Lions scored the second biggest win of the day with their 57-7 win over Border in the Under-13 SA Rugby Craven Week That dominance apart, numerous matches were fiercely competitive, with last minute scores determining the final results on numerous occasions.

South Africa's Amplats expects 80 pct jump in half-year earnings

ANGLOPLAT:   82,002     +252 (+0.31%)   25/06/2019 00:00 JOHANNESBURG, June 25 (Reuters) - Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by an increased metals price and one-off impairments that weighed on results in the same period a year earlier. Amplats said headline earnings for the six months ending June 30 were expected to be 2.69 billion rand ($188 million)more than the 3.363 billion rand earnings reported in the same period a year ago. Amplats is expected to report its half-year results in July, 22. ($1 = 14.3250 rand) (Reporting by Tanisha Heiberg Editing by Edmund Blair) 2019-06-25 09.

KAP INDUSTRIAL HOLDINGS LIMITED - Interest payment notification - KAP006

Wrap Text Interest payment notification - KAP006 KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1978/000181/06) JSE alpha code: KAP INTEREST PAYMENT NOTIFICATION Bondholders are advised of the following interest payment: Bond code: KAP006 ISIN: ZAG000137738 Coupon: 9.400% Interest period: 29 March 2019 to 30 June 2019 Interest amount due: R20 334 904.11 Payment date: 01 July 2019 Date convention: Following business day 25 June 2019 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 25/06/2019 10:00:00 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.

Multinational clients to benefit from Vodacom Business Africa's strategic repositioning

. Vodacom Group announced a strategic repositioning of its Vodacom Business Africa operations that will result in three separate share purchase agreements involving its enterprise businesses in Nigeria, Zambia, Angola, Ghana, and Cote d'Ivoire. Subject to various regulatory and statutory body approvals, Vodacom will enter into service provider agreements with Synergy Communications in Nigeria, Zambia, and Cote d'Ivoire; Internet Technologies Angola and Vodafone Ghana. In each of the five Vodacom Business Africa markets, the respective partners will acquire all of the operations and assets held by Vodacom.

The very many lawsuits facing Steinhoff

Steinhoff, together with certain subsidiaries, is facing a proliferation of legal actions including class actions across different jurisdictions. The material uncertainty with respect to this litigation resulted in a disclaimer of audit opinion from the external auditor. The inability to quantify and assess the validity of these legal claims further muddies the ultimate impact on the liquidity of the group.

WESCOAL HOLDINGS LIMITED - Condensed consolidated results for the year ended 31 March 2019

WSL 201906250003A Condensed consolidated results for the year ended 31 March 2019 Wescoal Holdings Limited Incorporated in the Republic of South Africa (Registration number: 2005/006913/06) Share code: WSL ISIN: ZAE000069639 (‘Wescoal' or ‘the company' or ‘the group') Condensed consolidated results for the year ended 31 March 2019 Laying the foundation to grow sustainably Salient features - Revenue increased by 12% to R3.965 billion (2018: R3.527 billion) - Cash flow generation increased by 23% to 106 cents per share (2018: 86 cents per share) - Cash flow generated from operations increased by 29% to R462.2 million (2018: R358.8 million) - EBITDA decreased by 15% to R456 million (2018: R538 million) - Secured long-term debt funding of R1.1 billion - Mining volumes decreased by 13% to 5.9 million tonnes (2018: 6.8 million tonnes) - Gross profit decreased by 18% to R461.6 million (2018: R565 million) - Total comprehensive income decreased by 56% to R88.2 million (2018: R202 million) - Net debt reduced during the year by 41% to R269 million enabling Wescoal to commit R335 million to pursuing its growth strategy - HEPS decreased by 62% to 17.5 cents per share (2018: 46.4 cents per share) - EPS decreased by 58% to 20.2 cents per share (2018: 48.1 cents per share) ‘It has been a tough and challenging year for Wescoal and the mining sector as a whole. The second half performance was weaker than the first half and overall, we are disappointed with the results. The Vanggatfontein mining contractor changeover announced late last year subsequently led to labour disruptions with an adverse impact on production and overall performance.

JSE could open lower on Tuesday as Omnia reports

Fertiliser and chemicals maker Omnia has come under fire for plans to sell shares soon after saying it has enough capital SA stocks could open weaker on Tuesday as investors shift their attention to geopolitical tensions in the Middle East and the much-anticipated Group of 20 (G20) summit later in the week. US President Donald Trump imposed fresh sanctions against Iran on Monday after the Middle Eastern nation shot down a US drone. Meanwhile, traders are awaiting talks between Trump and his Chinese counterpart, Xi Jinping, at the G20 summit in Japan starting on Friday. Hong Kong's Hang Seng index was 1.3% down on Tuesday, while the Shanghai Composite lost 1.8%. Japan's Nikkei 225 declined 0.67%, Korea's Kospi 0.5%, and Australia's main benchmark 0.2%. Chinese internet and gaming giant Tencent was 1.7% down in Hong Kong, suggesting a weak opening for major shareholder and Africa's biggest public company, Naspers, on the JSE. JSE heavyweight BHP Group was 0.2% lower in Australia. Fertiliser and chemicals maker Omnia, which has come under fire for announcing a planned share sale soon after saying it was adequately capitalised, is due to report financial results for the year to end-March on Tuesday.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Property Portfolio - STXPRO

STXPRO 201906250031A Rebalancing Of The Satrix Property Portfolio - STXPRO SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX PROPERTY PORTFOLIO JSE Code: STXPRO ISIN: ZAE000240131 (‘Satrix Prop' or the ‘ETF') A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIX PROPERTY PORTFOLIO Notice is hereby given that the quarterly review of the FTSE/JSE Prop Index has resulted in a rebalancing of the Satrix Prop ETF Portfolio. There have been changes to the Satrix Prop constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight ATT Attacq Limited 3.85% 3.55% AWA Arrowhead Properties A 1.43% 1.31% Capital&Counties Prop CCO pl 5.50% 4.31% CRP Capital & Regional Plc 0.11% 0.00% DLT Delta Property Fund Ltd 0.29% 0.39% EMI Emira Property Fund Ltd 2.10% 2.20% EPP Echo Polska Prop N.V. 2.41% 2.78% EQU Equites Prop Fund Ltd 3.46% 4.07% FFA Fortress Inc Fund Ltd A 7.91% 9.00% FFB Fortress Inc Fund Ltd B 3.86% 4.26% GRT Growthpoint Prop Ltd 9.82% 10.19% HMN Hammerson plc 2.52% 2.16% HYP Hyprop Inv Ltd 6.84% 6.65% ITU INTU PROPERTIES PLC 6.24% 4.37% MSP MAS Real Estate Inc. 3.06% 3.02% NRP NEPI Rockcastle PLC 9.93% 10.13% OCT Octodec Invest Ltd 1.10% 1.06% RDF Redefine Properties Ltd 10.00% 10.11% Rebosis Property Fund REB Lt 0.33% 0.15% RES Resilient Prop Inc Fund 6.93% 7.83% Redefine International RPL P 1.55% 1.26% SAC SA Corp Real Estate Ltd 3.15% 2.73% SSS Stor-Age Prop REIT Ltd 1.64% 2.04% Vukile Property Fund VKE Ltd 5.96% 6.42% 100.00% 100.00% The following constituents have been removed from the Satrix Pro: Previous New Code Share weight weight CRP Capital & Regional Plc 0.11 0.00% These changes were applied after the close of business on Friday, 21 June 2019 and are effective from Monday, 24 June 2019. Sandton 25 June 2019 Sponsor Vunani Corporate Finance Date: 25/06/2019 10:

Saica's progress on the Ntsebeza Inquiry recommendations

The South African Institute of Chartered Accountants (Saica) has issued an update on its actions so far in response to the Ntsebeza Inquiry into the conduct of members employed by KPMG, who were involved in audits of Gupta-owned companies and the South African Revenue Service (Sars) Report. Freeman Nomvalo, Saica CEO The inquiry considered the conduct of Saica members employed by KPMG between 1 January 2013 and 15 September 2017 to establish if there were transgressions of Saica's Code of Professional Conduct and other relevant laws and policies. The inquiry released its report to Saica in December 2018, which contains prima facie evidence of non-compliance with the code on the part of certain members.

BRIEF-Resilient REIT Sees FY Distribution To Be At Lower End Of Guidance

CO WILL ONLY BE INCLUDING 59,1% OF BASIC RENTAL ON EDGARS, EDGARS BEAUTY & JET STORES IN DISTRIBUTABLE EARNINGS * DISTRIBUTION NOW EXPECTED TO BE AT LOWER END OF GUIDANCE * EDGARS INTENDS CLOSING TWO STORES WHICH WILL RESULT IN AN R11,1 MILLION REDUCTION IN DISTRIBUTABLE EARNINGS FOR 2019 FINANCIAL YEAR.

GLOBAL MARKETS-Trade stress, Iran tensions hits stocks, dollar frets on Fed...

* Tensions over Iran, trade jitters weigh * Pan-European STOXX 600 index down 0.3% * Wagers on more dovish Fed talk keep yields, dollar down * Gold extends gains as rates and dollar drop * Asian stock markets : https://tmsnrt.rs/2zpUAr4 By Tom Arnold LONDON, June 25 (Reuters) - European shares were spooked by Iran tensions and trade jitters on Tuesday, while the risk of more dovish talk from the Federal Reserve inflated gold to six-year highs and stoked demand for safe-harbour currencies like the yen and Swiss franc. Taking a dramatic step to increase pressure on Iran, U.S. President Donald Trump on Monday signed an executive order imposing sanctions on Supreme Leader Ayatollah Ali Khamenei and other top officials. The move is a further worry for investors waiting anxiously to see if anything comes of Sino-U.S. trade talks later this week, with sentiment not helped after a senior U.S.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Resi Portfolio - STXRES

Wrap Text Rebalancing Of The Satrix Resi Portfolio - STXRES SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX RESI PORTFOLIO JSE code: STXRES ISIN code: ZAE000078622 ("Satrix Resi" or the "ETF") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIX RESI PORTFOLIO Notice is hereby given that the quarterly review of the FTSE/JSE Resi Index has resulted in a rebalancing of the Satrix Resi ETF Portfolio. There have been changes to the Satrix Resi constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight AGL Anglo American plc 24.02% 25.13% AMS Anglo American Plat Ltd 3.10% 3.17% ANG Anglogold Ashanti Ltd 5.28% 6.48% BHP BHP GROUP PLC 30.20% 29.80% EXX Exxaro Resources Ltd 2.65% 2.91% GFI Gold Fields Ltd 2.98% 4.04% IMP Impala Platinum Hlgs Ltd 2.85% 2.96% MND Mondi Ltd 2.64% 2.43% MNP Mondi plc 8.14% 7.59% SAP Sappi Ltd 2.57% 2.09% SOL Sasol Limited 15.57% 13.40% 100.00% 100.00% These changes were applied after the close of business on Friday, 21 June 2019 and are effective from Monday, 24 June 2019. Sandton 25 June 2019 Sponsor Vunani Corporate Finance Date: 25/06/2019 10:45:00 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.

RESILIENT REIT LIMITED - Pre-close update

RES RES40 RES36 RES34 RES35 RES41 RES38 201906250039A Pre-close update RESILIENT REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/016851/06) JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF (Approved as a REIT by the JSE) (‘Resilient' or ‘Company') PRE-CLOSE UPDATE In anticipation of Resilient's results for the year ended 30 June 2019, the following pre-close update is provided. The financial information on which this update is based has not been reviewed or reported on by the Company's external auditors. Distributable earnings - Edcon: Edgars intends closing two stores in the portfolio. There is demand from national tenants for this space at higher rentals. With effect from 1 April 2019, Resilient will only be including 59,1% of its basic rental on Edgars, Edgars Beauty and Jet stores in its distributable earnings.

It was a dramatic week for financial markets

As had been anticipated in last week's review, markets reacted strongly on various economic indicators and policy decisions last week. ipt> Globally equity markets had rallied strongly as both the European Central Bank's Mario Draghi and the Fed chairperson Jerome Powell gave strong indications that interest rates will start to move lower in a new cycle of downward rates in months to come. Bond rates in reaction had tumbled with the US 10-year bond dipping in below 2.0percent.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Swix Top 40 Portfolio - STXSWX

Wrap Text Rebalancing Of The Satrix Swix Top 40 Portfolio - STXSWX SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX SWIX TOP 40 PORTFOLIO JSE code: STXSWX ISIN code: ZAE000078580 ("Satrix Swix Top 40" or the "ETF") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 Rebalancing Of the Satrix Swix Top 40 Portfolio Notice is hereby given that the quarterly review of the FTSE/JSE Swix Top 40 Index has resulted in a rebalancing of the Satrix Swix Top 40 Portfolio. There have been changes to the Satrix Swix Top 40 constituents and the constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight AGL Anglo American plc 4.17% 4.23% AMS Anglo American Plat Ltd 1.01% 0.99% ANG Anglogold Ashanti Ltd 0.96% 1.15% APN Aspen Pharmacare Hldgs L 0.78% 0.81% ABG Barclays Africa (ABSA) 2.51% 2.65% BID BID Corporation Ltd 2.09% 2.19% BHP BHP GROUP PLC 2.33% 2.37% BTI British American Tob plc 3.16% 2.95% BVT Bidvest Ltd 1.45% 1.39% CFR Compagnie Fin Richemont 1.87% 2.07% CLS Clicks Group Ltd 0.97% 1.08% CPI Capitec 1.48% 1.41% DSY Discovery 1.05% 1.12% EXX Exxaro Resources Ltd 0.00% 0.91% FSR Firstrand 4.36% 4.52% GRT Growthpoint Prop Ltd 1.50% 1.44% INL Investec Ltd 0.58% 0.56% INP Investec plc 0.69% 0.68% LHC Life Healthc Grp Hldgs L 0.81% 0.63% MCG MultiChoice Group Ltd 1.14% 1.16% MND Mondi Ltd 0.86% 0.76% MNP Mondi plc

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Fini Portfolio - STXFIN

Wrap Text Rebalancing Of The Satrix Fini Portfolio - STXFIN SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX FINI PORTFOLIO JSE code: STXFIN ISIN code: ZAE000036356 ("Satrix Fini" or the "ETF") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIX FINI PORTFOLIO Notice is hereby given that the quarterly review of the FTSE/JSE Fini has resulted in a rebalancing of the Satrix Fini Portfolio. There have been changes to the Satrix Fini constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight ABG Barclays Africa (ABSA) 8.32% 8.77% CPI Capitec 4.91% 4.66% DSY Discovery 3.48% 3.72% FSR Firstrand 14.49% 14.99% GRT Growthpoint Prop Ltd 4.97% 4.78% INL Investec Ltd 1.94% 1.87% INP Investec plc 4.19% 4.05% NED NEDCOR 7.36% 7.01% NRP NEPI Rockcastle PLC 2.93% 3.10% OMU Old Mutual Limited 7.46% 7.13% PSG PSG Group Ltd 2.98% 2.69% RDF Redefine Properties Ltd 3.89% 3.49% RNI Reinet Inv Soc Anon 2.49% 2.29% RMH RMB Holdings Ltd 4.12% 4.35% SBK Standard Bank Group Ltd 17.37% 17.67% SLM Sanlam 9.10% 9.42% 100.00% 100.00% These changes were applied after the close of business on Friday, 21 June 2019 and are effective from Monday, 24 June 2019. Sandton 25 June 2019 Sponsor Vunani Corporate Finance Date: 25/06/2019 10:45:00 Produced by the JSE SENS Department. The SENS service is an

EMERGING MARKETS-Trade angst hits emerging stocks; dollar dip supports FX

* Chinese stocks end six-day run of gains * Moscow-listed shares fall, tracking oil prices * Forint weakens ahead of Hungary c.bank meeting By Sruthi Shankar June 25 (Reuters) - Emerging stock markets fell on Tuesday, led by Chinese shares amid uncertainty over the upcoming Trump-Xi meeting at the G20 Summit, though currencies were bolstered by a drop in the U.S. dollar. Chinese stocks .SSEC .CSI300 snapped a six-day winning streak, closing down nearly a percent after a senior U.S. official said late Monday that U.S.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Quality Portfolio - STXQUA

STXQUA 201906250030A Rebalancing Of The Satrix Quality Portfolio - STXQUA SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX QUALITY PORTFOLIO JSE code: STXQUA ISIN code: ZAE000247987 (‘Satrix Quality') A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 Previous New Code Share weight weight AFH Alexander Forbes Grp Hld 0.33% 0.00% AIP Adcock Ingram Hldgs Ltd 0.55% 0.00% AMS Anglo American Plat Ltd 0.00% 5.16% ARI African Rainbow Min Ltd 1.65% 1.88% ARL Astral Foods Ltd 1.06% 0.80% ASR Assore Ltd 1.91% 2.05% AVI AVI Ltd 4.44% 3.95% CLS Clicks Group Ltd 7.38% 7.65% CML Coronation 2.00% 2.16% CPI Capitec 9.57% 0.00% CSB Cashbuild Ltd 0.80% 0.70% GND Grindrod Ltd 0.50% 0.00% IPL Imperial Holdings Ltd 1.55% 2.11% JSE JSE Ltd 1.45% 1.44% KIO Kumba Iron Ore Ltd 3.11% 3.51% LBH Liberty 0.00% 1.51% MRP Mr Price Group Ltd 7.97% 9.25% NPN Naspers Ltd -N- 10.93% 9.85% OMU Old Mutual Limited 9.76% 9.81% PGR Peregrine Holdings Limit 0.47% 0.00% PIK Pick n Pay Stores Ltd 3.80% 0.00% RLO Reunert Ltd 1.39% 0.00% QLT Quilter Plc 0.00% 4.08% RMH RMB Holdings Ltd 5.21% 6.76% S32 South32 Limited 0.86% 0.99% SLM Sanlam 9.65% 0.00% SNT Santam 1.57% 0.00% SBK STANDARD 0.00% 10.24% TRU Truworths Int Ltd 4.23% 4.56% TBS Tiger Brands Ltd 6.76% 5.36% TRE Trencor Ltd 1.07% 0.00% WHL Woolworths Holdings Ltd 0.00% 6.18% REBALANCING OF THE SATRIX QUALITY PORTFOLIO Notice is hereby given that the bi-annual review of the S&P Quality South Africa Index has resulted in a rebalancing of the Satrix Quality ETF Portfolio. There have been changes to the Satrix Quality constituents and the constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: The following constituents have been added to the Satrix Quality: Previous New Code Share weight weight AMS Anglo American Plat Ltd 0.00% 5.16% LBH Liberty 0.00% 1.51% QLT Quilter Plc 0.00% 4.08% SBK STANDARD 0.00% 10.24% W

Capgemini deal soothes nervy European markets

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * U.S. sanctions on Khamenei mean end of diplomacy- Iran * Capgemini surges as analysts welcome takeover of Altran * Bank stocks fall as Euro zone yields test lows (Adds comment, updates prices) By Amy Caren Daniel and Medha Singh June 25 (Reuters) - The multi-billion euro merger of two of Europe's big business consultancies capped losses for its major stock markets on Tuesday as Middle East tensions and doubts about the chances of progress in U.S-China trade talks this week weighed on sentiment. The pan-European STOXX 600 index dipped 0.13% in the first hour of trading, but the technology sector was up around half a percent on the back of Capgemini's purchase of smaller rival Altran for 3.6 billion euros. After three weeks of solid gains that have reclaimed almost all of a May sell-off that generated European shares' worst monthly performance in more than two years, sentiment remained shaky. President Donald Trump targeted Supreme Leader Ayatollah Ali Khamenei and other top officials with sanctions on Monday in a move Tehran said closed the path to diplomacy between the countries. A U.S. official also said on Monday that Trump was "comfortable with any outcome" from talks with Chinese President Xi Jinping when they meet at a G20 summit this weekend, cooling hopes for a substantive breakthrough. "The U.S.

EOH rolls out anonymous whistleblowing app

EOH has announced the development and internal launch of the ExposeIT App, a whistleblowing tool that provides a secure, completely anonymous and confidential platform to employees who may be victims of, or bear witness to, wrongdoings of any kind within their organisation. The development of the app came about after Pretoria-based fraud-prevention experts XTND came across an App called Bravely, which was designed to combat bullying at schools by allowing children to anonymously report bullying incidents to authorities. XTND saw the potential and signed an agreement with Bravely's developers, ZappApp, to adapt the app for use in an organisational context as a tool to enable robust cases to be constructed on whistleblower evidence, without the anonymity of the whistleblower becoming compromised.

Two suspects nabbed for business robbery

Media Statement South African Police Service Office of the Provincial Commissioner Eastern Cape EASTERN CAPE - Last night, 24 June 2019 at Midnight members attached to Aliwal North Detective Unit under the command of Lieutenant Colonel Mguqulwa conducted a successful operation focusing on a reported case of Business Robbery that have been perpetrated at a tuck shop situated at Grey street in Aliwal North. It is alleged that between 3 and 4 June 2019, the suspects broke into a shop and gained entrance through the roof whereby they stole valuable items. On 24 June 2019, upon acting on information received, two suspects aged between 19 and 28 were arrested and all the stolen property including cell phones, cellphone batteries and electrical equipment was recovered with an estimated value of R150 000,00.

New Look losses mount as Brexit, rains keep shoppers away

June 25 (Reuters) - British fashion chain New Look reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept shoppers out of its stores. New Look, owned by South African investment firm Brait BATJ.J , reported statutory loss before tax of 522.2 million pounds ($666.4 million) for the year ended March, compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound non-cash goodwill and brand impairment charge after a restructuring, New Look said. In January New Look proposed a debt-for-equity swap to reduce its debt by 1 billion pounds, in its latest turnaround attempt. That transaction was expected to complete by June. Look staved off a potential collapse into administration last year when creditors and landlords backed a plan enabling it to close 60 UK stores.

Pumas breathe fire against Griffons

The Phakisa Pumas showed flair and skill in defeating the Thepa Trading Griffons on the first day of the u/13 Craven Week at Hoërskool Rob Ferreira yesterday. They overpowered the northern Free Staters 22-0. Flanker, Jonny Dos Santos Hilario cut through the defence to score the first try.

GLOBAL MARKETS-Trade stress, Iran tensions hits stocks, dollar frets on Fed doves

* Tensions over Iran, trade jitters weigh * Pan-European STOXX 600 index down 0.3% * Wagers on more dovish Fed talk keep yields, dollar down * Gold extends gains as rates and dollar drop * Asian stock markets : tmsnrt.rs/2zpUAr4 By Tom Arnold LONDON, June 25 (Reuters) - European shares were spooked by Iran tensions and trade jitters on Tuesday, while the risk of more dovish talk from the Federal Reserve inflated gold to six-year highs and stoked demand for safe-harbour currencies like the yen and Swiss franc. Taking a dramatic step to increase pressure on Iran, U.S. President Donald Trump on Monday signed an executive order imposing sanctions on Supreme Leader Ayatollah Ali Khamenei and other top officials.

EMERGING MARKETS-Trade angst hits emerging stocks; dollar dip supports FX

* Chinese stocks end six-day run of gains * Moscow-listed shares fall, tracking oil prices * Forint weakens ahead of Hungary c.bank meeting By Sruthi Shankar June 25 (Reuters) - Emerging stock markets fell on Tuesday, led by Chinese shares amid uncertainty over the upcoming Trump-Xi meeting at the G20 Summit, though currencies were bolstered by a drop in the U.S. dollar. Chinese stocks snapped a six-day winning streak, closing down nearly a percent after a senior U.S.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Indi Portfolio - STXIND

Wrap Text Rebalancing Of The Satrix Indi Portfolio - STXIND SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX INDI PORTFOLIO JSE code: STXIND ISIN code: ZAE000036364 ("Satrix Indi" or the "ETF") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIX INDI PORTFOLIO Notice is hereby given that the quarterly review of the FTSE/JSE Capped INDUSTRIAL 25 has resulted in a rebalancing of the Satrix Indi ETF Portfolio. There have been changes to the Satrix Indi constituents and the constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight ANH Anheuser-Busch InBev SA 0.68% 1.02% APN Aspen Pharmacare Hldgs L 1.37% 1.43% AVI AVI Ltd 1.13% 1.09% BAW Barloworld Ltd 1.00% 0.94% BID BID Corporation Ltd 3.68% 3.86% BTI British American Tob plc 5.56% 5.21% BVT Bidvest Ltd 2.55% 2.45% CFR Compagnie Fin Richemont 20.06% 21.86% CLS Clicks Group Ltd 1.70% 1.92% LHC Life Healthc Grp Hldgs L 1.42% 1.12% MCG MultiChoice Group Ltd 2.01% 2.05% MEI Mediclinic Internat Ltd 0.84% 0.73% MRP Mr Price Group Ltd 1.82% 1.86% MTN MTN Group Ltd 6.46% 7.08% NPN Naspers Ltd -N- 30.41% 29.62% NTC Netcare Limited 1.40% 0.92% PIK Pick n Pay Stores Ltd 0.88% 0.85% REM Remgro Ltd 3.86% 3.54% SHP Shoprite Holdings Ltd 2.94% 2.75% SPP The Spar Group Ltd 1.42% 1.35% TBS Tiger Brands Ltd 1.74% 1.37% TFG The Foschini Group Limit 1.50%

Resilient REIT Sees FY Distribution To Be At Lower End Of Guidance

(Reuters) - Resilient Reit Ltd: * FROM 1 APRIL, CO WILL ONLY BE INCLUDING 59,1% OF BASIC RENTAL ON EDGARS, EDGARS BEAUTY & JET STORES IN DISTRIBUTABLE EARNINGS * DISTRIBUTION NOW EXPECTED TO BE AT LOWER END OF GUIDANCE * EDGARS INTENDS CLOSING TWO STORES WHICH WILL RESULT IN AN R11,1 MILLION REDUCTION IN DISTRIBUTABLE EARNINGS FOR 2019 FINANCIAL YEAR Source text for Eikon: Further company coverage: 2019-06-25 11.

Ayanda empowers herself in 'Generations': Smanga faces business woes

Ayanda had an unexpected visitor and was surprised by his advice on how to deal with her current situation in Generations: The Legacy . Cosmo tried to warn his sister about her latest business ideas but Lucy thinks she knows what she's doing. Smanga was disappointed with bad news after more bad news.

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrix Rafi 40 Portfolio - STXRAF

Wrap Text Rebalancing Of The Satrix Rafi 40 Portfolio - STXRAF SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX RAFI PORTFOLIO JSE code: STXRAF ISIN code: ZAE000126033 ("Satrix Rafi 40" or the "ETF") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIX RAFI 40 PORTFOLIO Notice is hereby given that the quarterly review of the FTSE/JSE Rafi 40 Index has resulted in a rebalancing of the Satrix Rafi 40 Portfolio. There have been changes to the Satrix Rafi 40 constituents and constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previous New Code Share weight weight AGL Anglo American plc 7.14% 7.32% ANG Anglogold Ashanti Ltd 1.30% 1.54% APN Aspen Pharmacare Hldgs L 0.75% 0.77% BAW Barloworld Ltd 0.88% 0.86% ABG Barclays Africa (ABSA) 4.36% 4.64% BID BID Corporation Ltd 1.70% 1.83% BHP BHP GROUP PLC 10.12% 9.83% BTI British American Tob plc 3.36% 2.84% BVT Bidvest Ltd 1.18% 1.16% CFR Compagnie Fin Richemont 7.30% 8.16% FSR Firstrand 3.49% 3.71% GFI Gold Fields Ltd 1.63% 2.16% GRT Growthpoint Prop Ltd 1.41% 1.39% GLN Glencore plc 1.27% 1.07% IMP Impala Platinum Hlgs Ltd 0.98% 1.01% INL Investec Ltd 0.74% 0.73% INP Investec plc 1.81% 1.79% ITU INTU PROPERTIES PLC 1.11% 0.71% LHC Life Healthc Grp Hldgs L 0.76% 0.61% MND Mondi Ltd 0.77% 0.71% MNP Mondi plc 2.43% 2.24% MTN MTN Group Ltd 6.05% 6.80% NED NEDCOR

SATRIX COLLECTIVE INVESTMENT SCHEME - Rebalancing Of The Satrixmmt Portfolio - STXMMT

Wrap Text Rebalancing Of The Satrixmmt Portfolio - STXMMT SATRIX COLLECTIVE INVESTMENT SCHEME SATRIX MOMENTUM PORTFOLIO JSE Code: STXMMT ISIN: ZAE000264008 ("SATRIXMMT" or "STXQMMT") A portfolio in the Satrix Collective Investment Scheme, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 REBALANCING OF THE SATRIXMMT PORTFOLIO Notice is hereby given that the quarterly review of the proprietary Satrix Momentum Index has resulted in a rebalancing of the SATRIXMMT ETF Portfolio. There have been changes to the SATRIXMMT constituent weightings. The complete list of current constituents and their respective weightings have been included in the table below: Previou s Code Share weight New weight AGL Anglo American plc 0.97% 1.13% AGL Anglo American plc 0.94% 1.13% AMS Anglo American Plat Ltd 3.61% 3.77% ANG Anglogold Ashanti Ltd 0.41% 0.52% ANH Anheuser-Busch InBev SA 0.46% 0.46% ARI African Rainbow Min Ltd 3.27% 3.31% ASR Assore Ltd 0.92% 0.77% BHP BHP GROUP PLC 1.34% 1.34% BID BID Corporation Ltd 4.93% 5.02% BTI British American Tob plc 2.20% 2.21% BVT Bidvest Ltd 4.20% 3.09% CFR Compagnie Fin Richemont 4.39% 4.65% CLS Clicks Group Ltd 3.68% 3.90% CPI Capitec 4.45% 3.99% DSY Discovery 2.48% 2.12% EXX Exxaro Resources Ltd 2.79% 1.80% FSR Firstrand 6.85% 6.84% IMP Impala Platinum Hlgs Ltd 3.54% 3.64% INL Investec Ltd 1.13% 1.12% INP Investec

UPDATE 1-Capgemini deal soothes nervy European markets

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * U.S. sanctions on Khamenei mean end of diplomacy- Iran * Capgemini surges as analysts welcome takeover of Altran * Bank stocks fall as Euro zone yields test lows (Adds comment, updates prices) By Amy Caren Daniel and Medha Singh June 25 (Reuters) - The multi-billion euro merger of two of Europe's big business consultancies capped losses for its major stock markets on Tuesday as Middle East tensions and doubts about the chances of progress in U.S-China trade talks this week weighed on sentiment. The pan-European STOXX 600 index .STOXX dipped 0.13% in the first hour of trading, but the technology sector .SX8P was up around half a percent on the back of Capgemini's CAPP.PA purchase of smaller rival Altran ALTT.PA for 3.6 billion euros. three weeks of solid gains that have reclaimed almost all of a May sell-off that generated European shares' worst monthly performance in more than two years, sentiment remained shaky. President Donald Trump targeted Supreme Leader Ayatollah Ali Khamenei and other top officials with sanctions on Monday in a move Tehran said closed the path to diplomacy between the countries.

Sipho Maseko sells Telkom shares worth R10.8-million

Sipho Maseko Telkom Group CEO Sipho Maseko has sold more than 112 000 shares in the telecommunications operator, bagging R10.8-million in the process. The share options, which vested on 3 June, were sold at an average price of R96.12. The sale comes on the back of a strong performance in Telkom's share price, which has handily beaten other listed telecoms stocks on the JSE in the past year.

The nation is hungry for State Capture arrests

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. While the immediate political stakes involved in any decisions made by the NPA are immensely high, they are easily as high for the longer-term future of our criminal justice system. When the commentariat casts its eyes over the general political scenery, much of the debate tends to centre on the balance of power in the ANC.

Group Five's chair resigns amid business rescue process

Group Five, which was put into business rescue earlier in 2019 after lenders pulled the plug on the struggling construction company, says chair Nonyameko Mandindi has resigned along with three other non-executive directors. Once a stalwart of SA's construction industry, Group Five said last week that shareholders are unlikely to get anything out of its business rescue process, a legal framework aimed at rehabilitating financially distressed companies. Mandindi, former CEO Michael Upton, Edward Williams and Cora Fernandez had all resigned from the board with immediate effect, the contractor said on Tuesday. "The board wishes to thank Nonyameko, Michael, Edward and Cora for their invaluable contribution to the group since their appointments in July 2017 under challenging circumstances, and takes this opportunity to wish them well for their future," the company said. According to a presentation posted on the company's website last week, Group Five's losses have been steadily growing. It made a total loss of R1.8bn in the eight months to end-February. In the year to end-June 2018, it made a loss of R1.3bn, while in 2017, its losses amounted to about R800m. The business rescue practitioners said in the presentation "there is a reasonable prospect of achieving a successful business rescue and to provide value to creditors. "However, given that it is highly unlikely that all creditors will be made whole, it is expected that no value will flow to shareholders through the business rescue process." At the end of February, Group Five's liabilities exceeded its assets by R1.3bn. hedleyn@businesslive.co.za.

Rand firmer as dollar falls on rate cut bets

At 0730 GMT the rand was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600. | JOHANNESBURG - South Africa's rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by US and eurozone central banks.At 0730 GMT the rand was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600.Selling in the dollar has accelerated since the US Federal Reserve last week signalled it would cut interest rates before year-end on mounting worries about the fallout from US President Donald Trump's trade disputes with China and others. In stocks, Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by rising metals prices and one-off impairments that weighed on results in the same period a year earlier. Gold prices climbed more than 1% on Tuesday to their highest in six years as US-Iran tensions drove investors towards the safe-haven. The Johannesburg Stock Exchange's Top-40 Index was down 0.15% in early trade at 52,683 points. Bonds were firmer ahead of a weekly auction of long-term Treasury issues. The yield on the benchmark 2026 bond fell 3 basis points to 8.14%..

Flush With Cash, Naspers Could Be Shopping For Investment Opportunities

Naspers. Image source: livemint S outh Africa's Naspers is likely shopping around for ideal investment opportunities now that the Cape Town-based group has filled up its coffers. The internet technology investor announced on Friday that strong balance sheet with net cash of $6.3 billion (R90 billion) positions it well to pursue growth.

It's becoming harder to stay employed in South Africa

The drop in the number of employed people is a further blow to the government as it seeks to put a dent in the stubbornly high unemployment rate of around 27%. 23 mins ago Don't expect an improvement in the country's employment figures when Statistics South Africa (Stats SA) releases numbers for the first quarter of 2019 later on Tuesday, with a spate of large companies have announced plans to cut staff since the beginning of the year. Although about 80 000 jobs were added in the last three months of 2018, indications are that there will not be a repeat of this growth.

Wanted business robbery suspects nabbed - KwaDukuza

Two unlicensed firearms, 83 cellphones, and several other items were found in the possession of five wanted business robbery suspects who were caught and arrested earlier this month. The multi-disciplinary operation involving Tracker SA, together with KwaDukuza municipality Crime Prevention, Hawks Security, KwaDukuza Task Team and Umhlali K9 unit led to the arrest of five men on the N2 highway on Thursday, June 13. The arrest came after the teams received information that thieves had robbed a well-known clothing store in Eshowe.

At The Hardy Boys, the future tastes good

The Hardy Boys celebrate Rama pitch win Durban creative agency The Hardy Boys (THB), in partnership with Wunderman Thompson and TMARC, has been awarded the highly respected Rama Spreads account following a competitive pitch procedure. As Rama is a heartland brand, filled with heritage and meaning for South African consumers, the agency challenged itself to provide refreshing creative solutions that would appeal to a wide range of South African consumers. THB's Chief Creative Officer, Geoff Paton revealed, "In response to the pitch brief, we honed in on unique consumer insights, and collaborated within the Wunderman Thompson Group to leverage the skills and data insights needed to bring on the relevant partners required to provide the best solutions for client.

TROUBLE FOR PIC EVIDENCE LEADER (Part 1)

He called asset manager to private meeting THE MPATI Commission of Inquiry into alleged impropriety at the Public Investment Corporation (PIC) heard yesterday how its evidence leader, advocate Jannie Lubbe, had summoned the asset manager's suspended acting chief executive, Matshepo More, to a private meeting to give her "fatherly advice". This was after concerns were raised about the conduct of his investigation team over the sourcing of information. During her submission to the commission, More said Lubbe in February called her to a meeting to give her "fatherly advice" on how to deal with her looming suspension when engaging with Finance Minister Tito Mboweni.

Running an online business? Your data storage could be costing you customers

An 'Always On' solution is critical for the eCommerce Customer Experience (CX) says , Country Manager at INFINIDAT. When customers visit an online business, they expect instant access and 24/7 availability. However, if pages take more than a few seconds to load, or transactions cannot be completed quickly, revenue from these potential sales may be lost.

Get the best cloud video conferencing service for your business now

Video conferencing has many advantages for a business, including improved collaboration between teams and saving on travel costs for meetings. It is a powerful tool which can improve productivity and is a must-have for businesses with offices in more than one location. While there are many free video conferencing tools, poor service levels can make the experience unpleasant and unproductive. This is why Connection Telecom built its Cloud Video Conferencing solutions, which guarantees uptime, eliminates latency spikes, and ensures excellent video quality. This convenient and powerful video conferencing solution incorporates Vidyo's world-leading technology into Connection Telecom's cloud infrastructure hosted at Teraco. Vidyo technology is end-point aware and understands the impact of network speed, screen resolution, and CPU load on the service. The technology actively optimises the video stream for each device to produce the best possible experience, and it is also completely platform agnostic. This means it supports virtually any device with a camera and Internet connection. What makes Connection Telecom's cloud video conferencing particularly attractive to businesses is its cost-effective scalability. It is quick and affordable to increase or decrease capacity based on the demands of the business. A video conference can be set up in moments and accepting meeting requests can be done via email. By hosting the service in Connection Telecom's cloud the turnaround time is almost instantaneous and it eliminates the cost and time required to deploy a video conferencing solution. For more information, visit: Connection Telecom Cloud Video Conferencing This article was published in partnership with Connection Telecom..

PIC Inquiry: Matshepo More Gives Details On PIC Relationship With Ayo Technologies

Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More has told the PIC inquiry that while she signed off on the payment of the Ayo Technology Solutions deal, she did not approve or disapprove of the transaction. More has been testifying for a second day at the inquiry into alleged impropriety at the PIC. The R4.3 billion Ayo Technologies deal was in the spotlight with allegations that the company flouted procedure to secure the deal. More has told the inquiry that on 19 December 2017, she was handed a disbursement memo by her personal assistant who said she had to sign it urgently in her capacity as the company CFO. She said it had already been signed by other executives including former CEO Dan Matjila. "Each person is an advisor; so, what you could argue is that it was taken to the approver prior to my signature because I'm also one of the advisors." More said her signature did not represent approval. "I crossed out the word approval or not approval which appeared above my signature in order to make it clear that the purpose of my signature was not to approve nor disapprove. This is so because such power doesn't lie with me, hence the approval was requested from the CEO." More said when she realised that a step in the approval process had been skipped before Matjila could approve, she took it upon herself to ensure compliance and called a portfolio management committee. EWN The post appeared first on iAfrica.com..

Business News: Here's what South Africa's working-class earns

Around 1 in 3 working South Africans earn less than the national minimum wage, according to a recent survey. But there is hope for those who wish to break the mode and earn higher salaries. PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! A survey by Giraffe, an automated recruitment platform, revealed that one third of working South Africans earn less that the national minimum wage.

New Look losses mount as Brexit, rains keep shoppers away

June 25 (Reuters) - British fashion chain New Look reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept shoppers out of its stores. New Look, owned by South African investment firm Brait , reported statutory loss before tax of 522.2 million pounds ($666.4 million) for the year ended March, compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound non-cash goodwill and brand impairment charge after a restructuring, New Look said. In January New Look proposed a debt-for-equity swap to reduce its debt by 1 billion pounds, in its latest turnaround attempt. That transaction was expected to complete by June. New Look staved off a potential collapse into administration last year when creditors and landlords backed a plan enabling it to close 60 UK stores. "We expect the retail environment to remain as challenging as ever in the year ahead, with continued Brexit uncertainty and unseasonable weather impacting current trading," Executive Chairman Alistair McGeorge said in a statement. British retailers are battling a perfect storm of rising costs, uncertainty in the economy around Brexit and the structural shift online. Earlier this month, an industry survey said British shoppers cut back on their spending in May by the most in more than 20 years, raising questions about how long consumers can keep on cushioning the economy from the impact of Brexit. Debenhams and Marks & Spencer have announced store closures, while Philip Green's Topshop-to-Dorothy Perkins fashion empire narrowly avoided falling into administration, as retailers struggle with rising labour costs, business property taxes and growing online competition. ($1 = 0.7836 pounds) (Reporting by Tanishaa Nadkar and Noor Zainab Hussain in Bengaluru; editing by Gopakumar Warrier) 2019-06-25 10.

AVI LIMITED - Acceptance of Share Appreciation Rights by AVI Directors and Directors of a Major Subsidiary

Wrap Text Acceptance of Share Appreciation Rights by AVI Directors and Directors of a Major Subsidiary AVI Limited Incorporated in the Republic of South Africa Registration Number 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 ("AVI") ACCEPTANCE OF SHARE APPRECIATION RIGHTS ("SARs") BY AVI DIRECTORS AND DIRECTORS OF A MAJOR SUBSIDIARY In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of the JSE Limited, the following information is disclosed: Director : Simon Crutchley Company : AVI Date of transaction : 24 June 2019 Nature of transaction : Acceptance of SARs in the Revised AVI Executive Share Incentive Scheme Class of securities : SARs in respect of ordinary shares Number of SARs granted : 261 227 SARs allocation price : R89.27 Total value of transaction : R23 319 734.29 Vesting period : 3 years Nature and extent of Director's interest : Direct beneficial On-market or off-market : Off-market Clearance obtained : Yes Director : Michael Koursaris Company : AVI Date of transaction : 24 June 2019 Nature of transaction : Acceptance of SARs in the Revised AVI Executive Share Incentive Scheme Class of securities : SARs in respect of ordinary shares Number of SARs granted : 94 975 SARs allocation price : R89.27 Total value of transaction : R8 478 418.25 Vesting period : 3 years Nature and extent of Director's interest : Direct beneficial On-market or off-market : Off-market Clearance obtained : Yes Director : Keith Phillips Company : National Brands Limited Date of transaction : 24 June 2019 Nature of transaction : Acceptance of SARs in the Revised AVI

Group Five chairman, three directors quit amid business rescue

JOHANNESBURG, June 25 (ANA) Embattled construction engineering company, Group Five, on Tuesday announced the resignation of four directors, including board chairman Nonyameko Mandindi with immediate effect. The group said that other non-executive directors who have resigned were Michael Upton, Edward Williams (NYSE:WMB), and Cora Fernandez. Mandindi is a professional quantity surveyor and has worked with two listed construction companies in her career. Their resignations left the group's eight-member board hollowed out, with only four members left having to steer the ship under interim CEO Edward Williams' leadership. "The board wishes to thank Nonyameko, Michael, Edward and Cora for their invaluable contribution to the group since their appointments in July 2017 under challenging circumstances and takes this opportunity to wish them well for their future," Group Five said. In March, Group Five resolved to place its companies into business rescue and had applied to the Johannesburg Stock Exchange to suspend trading in its shares after a number of other direct and indirect subsidiaries experienced cash flow difficulties. The financial constraints were exacerbated by the calling of guarantees in issue of US$62.7 million last November and $43.8 million in December relating to the Kpone Gas and Oil-Fired Combined Cycle EPC power plant contract which the client terminated. In a market update last week, Group Five's business rescue practitioners said it was very unlikely that shareholders would receive any value back on their investments. ; Editing by Devereaux Morkel.

Lion spotted near Mhlatikop, Mpumalanga

Cyclists and joggers were warned to skip their daily exercise and pedestrians urged to be careful after a lion was spotted between Mhlatikop and Pestana Kruger Lodge. 25 mins ago Pedestrians, joggers and cyclists were warned to be very careful when in the vicinity of the Malelane Golf Club morning after a lion was spotted in the area on Tuesday, Corridor Gazette reports. Interestingly enough, almost a year ago on July 3, two lions were spotted in the same area by police officers.

I had no role in PIC's Ayo investment says suspended acting CEO

Matshepo More, the suspended Public Investment Corporation (PIC) acting chief executive, has denied she played a role in the approval of the R4.3-billion investment deal between the PIC and Ayo Technology Solutions . More was put on precautionary suspension in March following allegations she was been interfering with inquiry — chaired by Justice Lex Mpati — which is looking into issues of impropriety at the state asset manager. READ MORE: Suspended acting CEO denies victimising PIC staff The transaction between the company linked to controversial businessman Iqbal Survé and the state asset manager was under the spotlight of the commission on Tuesday.

This platform is connecting Tanzanian startups with business advice

Online platform Bizfundi is helping Tanzanian startups grow by linking them with business advisors and other useful information. Launched as a website in late 2017 and now also available via Android app, Bizfundi has over 3,000 registered users across Tanzania. Incubated by the USAID-funded Enabling Growth through Investment and Enterprise (ENGINE) programme, The platform helps to facilitate commercial linkages and the dissemination of useful information for the benefit of small business owners.

Vodacom places its employees at the forefront of the company's digital transformation journey

Tuesday, 25 June 2019 Johannesburg - Vodacom is transforming into a digital company and in keeping with its digital transformation strategy, Vodacom today announced its internal rollout of employee engage platform, Vodacom Engagement App aimed at enabling its employees to easily engage with the company, as well as gain access to products and services at the palm of their hands anywhere at any time. The Vodacom Employee Engage App simplifies employee engagement through a user-friendly interface, which is easy to navigate. Through the app, employees are able to login to the platform from their smartphones, where they can:   • View payslips and benefits   • Access the network operator's learning platform   • Manage and review performance   • Connect to Workplace   • Link up with global Opcos   • Keep up-to-date with the news   • Log health and safety, as well as maintenance calls   • Book boardrooms and view calendars   • Access their digital signature   • Access key Vodacom policies and procedures The rollout of the app forms part of Vodacom's phase one rollout of internal digital solutions.

The Benefits of Getting Your Business onto the Android Platform

A lot of companies may look at digitisation and establishing an internet presence as simply beginning and ending with getting a conventional website up and running, but that's becoming less and less true. Being able to reach customers on their smart devices is fast turning into a necessity for any business that wants to maximise its exposure. So - if you decide to  reach all the Android users out there , what benefits are in store for you? THE USER BASE CONTINUES TO INCREASE Due to decreasing costs of both mobile data infrastructure as well as smartphones being available for less than the average night out, the number of potential customers on Android devices is simply going to keep rising and increasing the eyes that could see any company's respective app.

15 hospitalised following a business fire in Auckland Park

15 people have been hospitalised following a fire at a business at Auckland Park, Johannesburg. ER24 personnel, along with other private services, arrived on the scene to find the City of Johannesburg Fire Services already in attendance. Numerous people were found lining the sidewalks after the building had been evacuated. Medics set up a triage area and began to tend to the patients. On assessment, medics found that 15 people had suffered from mild smoke inhalation, whilst some had sustained burn wounds. The patients were treated for their injuries and thereafter transported, by various services, to a nearby private hospital. The details surrounding this incident are not yet known but authorities were on the scene for further investigations.....

Business News: Agriculture sector happy with R3.9bn for black farmers

- Government has set aside almost R4 billion in subsidies for black commercial farmers - The move has been welcomed by many in the agricultural sector - This comes as the sector lost almost 12 000 jobs in the first quarter of the year PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! The South African agriculture industry has responded positively to government's pledge to allocate almost R4 billion to help black commercial farmers. This comes after President Ramaphosa announced during his State of the Nation Address that R3.9 billion had been set aside for the Land Bank to assist these farmers.  This is significant as the agricultural sector lost almost 12 000 jobs in the first quarter of 2019. PAY ATTENTION: Do you want to know what's trending on Briefly.co.za? Join our WhatsApp group today.

PIC Inquiry: Matshepo More Gives Details On PIC Relationship With Ayo Technologies

Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More has told the PIC inquiry that while she signed off on the payment of the Ayo Technology Solutions deal, she did not approve or disapprove of the transaction. More has been testifying for a second day at the inquiry into alleged impropriety at the PIC. The R4.3 billion Ayo Technologies deal was in the spotlight with allegations that the company flouted procedure to secure the deal.

AVI LIMITED - Acceptance of Share Appreciation Rights by AVI Directors and Directors of a Major Subsidiary

AVI 201906250046A Acceptance of Share Appreciation Rights by AVI Directors and Directors of a Major Subsidiary AVI Limited Incorporated in the Republic of South Africa Registration Number 1944/017201/06 Share Code: AVI ISIN: ZAE000049433 (‘AVI') ACCEPTANCE OF SHARE APPRECIATION RIGHTS (‘SARs') BY AVI DIRECTORS AND DIRECTORS OF A MAJOR SUBSIDIARY In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of the JSE Limited, the following information is disclosed: Director : Simon Crutchley Company : AVI Date of transaction : 24 June 2019 Nature of transaction : Acceptance of SARs in the Revised AVI Executive Share Incentive Scheme Class of securities : SARs in respect of ordinary shares Number of SARs granted : 261 227 SARs allocation price : R89.27 Total value of transaction : R23 319 734.29 Vesting period : 3 years Nature and extent of Director's interest : Direct beneficial On-market or off-market : Off-market Clearance obtained : Yes Director : Michael Koursaris Company : AVI Date of transaction : 24 June 2019 Nature of transaction : Acceptance of SARs in the Revised AVI Executive Share Incentive Scheme Class of securities : SARs in respect of ordinary shares Number of SARs granted : 94 975 SARs allocation price : R89.27 Total value of transaction : R8 478 418.25 Vesting period : 3 years Nature and extent of Director's interest : Direct beneficial On-market or off-market : Off-market Clearance obtained : Yes Director : Keith Phillips Company : National Brands Limited Date of transaction : 24 June 2019 Nature of transaction : Acceptance of SARs in the Revised AVI Executive Share Incentive Scheme Class of securities : SARs in respect of ordinary shares Number of SARs granted : 34 781 SARs allocation price : R89.27 Total value of transaction : R3 104 899.87 Vesting period : 3 years Nature and extent of Director's interest : Direct beneficial On-market or off-market : Off-market Clearance obtained : Yes Director : David Hood Company : National Brands Limited Date of transact

Euphonik offers advice to South Africans facing retrenchments

With companies retrenching employees in droves, DJ Euphonik is here to offer some advice to potential job seekers who may be out of work in the next few weeks It's made for some grim reading over the past few weeks but a number of South Africa's biggest firms have announced that they are retrenching their employees after realising they are unable to afford to keep chunks of their workforce. In fact, at the time of writing, state-owned aerospace and military tech company, Denel, has admitted that they will not be able to pay their employees for the month of June. This comes off the back of the news that other large companies such as Multichoice, Eskom, Nedbank and many others will be laying off staff this year. If you're a permanently employed professional relying on a salary to make a living, these are incredibly worrying times. IBM is retrenching Eskom is retrenching Distell is retrenching Miway is retrenching Nedbank is retrenching Multichoice is retrenching Tiso Star is retrenching Standard Bank is retrenching Continental Tyres is retrenching Murray & Roberts is retrenching Everyone is retrenching — Man's Not Barry Roux (@AdvBarryRoux) June 23, 2019 However, it is often said that even in the darkest of times, a glimmer of hope can appear if you are open to it. With the retrenchment news doing the rounds on social media for most of this month, Euphonik did his bit to offer hope to anybody who has already lost (or is at risk of losing) their job when he proposed an alternative reality With massive corporations closing their doors, Euphonik believes that entrepreneurial ventures will be the key to saving the South African economy.

Matshepo More details how PIC got in bed with Ayo Technology

The R4.3 billion Ayo Technologies deal was in the spotlight with allegations that the company flouted procedure to secure the deal. | PRETORIA - Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More has told the PIC inquiry that while she signed off on the payment of the Ayo Technology Solutions deal, she did not approve or disapprove of the transaction. More has been testifying for a second day at the inquiry into alleged impropriety at the PIC.

How libra could upend Facebook's business model

Mark Zuckerberg Facebook's plan for a new cryptocurrency has the potential to change entire industries. A more likely outcome is that the technology transforms the social media giant's own business. While Facebook makes most of its revenue from advertising, CEO Mark Zuckerberg says the future is private messaging.

GRAPHIC-Safety first: markets wary of world politics and policy and dash for bunkers

LONDON, June 25 (Reuters) - Gold, Switzerland's franc, Japan's yen, top-rated government bonds, and even bitcoin — investors have dashed for havens and alternative assets this week as anxiety grows about trade wars, U.S.-Iran tensions and negative interest rates. Although world stocks and bonds remain near record highs thanks to promises of ever more central bank largesse, the sudden dash for these financial bunkers shows all is not as calm as a cursory reading of headline indexes suggests. Fears of a global trade war have been simmering for over a year but the latest standoff between Washington and Beijing may come to a head at the G20 summit in Japan this weekend.

KIBO ENERGY PLC - Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley

KBO 201906250054A Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley Kibo Energy PLC (Incorporated in Ireland) Registration Number: 451931 Share code on the JSE Limited: KBO Share code on the AIM: KIBO ISIN: IE00B97C0C31 (‘Kibo' or ‘the Company') Dated: 25 June 2019 Kibo Energy PLC (‘Kibo' or the ‘Company') Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce an update on its 60% owned subsidiary, MAST Energy Developments Limited (‘MED'), a private UK registered company targeting the development and operation of flexible power plants to service the UK reserve power generation market. Highlights *Five-year Power Purchase Agreement (‘PPA') with Statkraft Markets GmbH for planned 5MW Bordersley Reserve Power generation project *Key commercial milestone reached as MED focuses on the commercial commissioning of Bordersley end Q1 2020 Louis Coetzee, CEO of Kibo Energy, commented, ‘Finalizing a PPA with a global player such as Statkraft is a key deliverable in terms of the overall Project Management Plan at Bordersley to deliver a technically and commercially viable project, thereby solidifying the platform for long term revenue creation as of Q1 2020. With a portfolio exceeding 12 TWh from over 400 customers, Statkraft is a natural partner for us and we are delighted to be working with its team.' Details As part of its strategy to develop a portfolio of small-scale Reserve Power generation projects, initially in the UK, MED has today concluded negotiations for a five-year Power Purchase Agreement (‘PPA') for its Bordersley project with Statkraft Markets GmbH, a leading provider of long-term PPA's and have agreed to execute the PPA finalized today, on 01 July 2019. Bordersley is MED's first shovel-ready site targeted for commercial commissioning end Q1 2020, which will comprise a 5MW gas-fue

Multinational clients to benefit from Vodacom Business Africa's strategic repositioning

Vodacom Group (‘the Group') has announced a strategic repositioning of its Vodacom Business Africa operations that will result in three separate share purchase agreements involving its enterprise businesses in Nigeria, Zambia, Angola, Ghana and Cote d'Ivoire. Subject to various regulatory and statutory body approvals, Vodacom will enter into service provider agreements with Synergy Communications in Nigeria, Zambia and Cote d'Ivoire; Internet Technologies Angola (ITA) in Angola and Vodafone Ghana in Ghana. In each of the five Vodacom Business Africa markets, the respective partners will acquire all of the operations and assets held by Vodacom.

Kap's shares fall to worst level in four years

Shares in Kap Industrial, which counted Steinhoff as a major investor until March, have fallen to their worst level in about four years after the group warned of a decline in earnings in the year to end-June. Kap, which owns industrial, chemical and logistics businesses, said last week that headline earnings per share (HEPS) for the full year would be at least 20% down from a year before. Ignoring charges of R196m relating to a BEE transaction, HEPS would fall by at least 7.9%. "Operational execution remains sound with significant progress made during the year in key areas," Kap said at the time. Its annual results are due on 20 August. However, the progress has failed to arrest a sell-off that started on January 29. Since then, Kap's shares have fallen by more than a third, from R8.78 to R5.48. On Monday, the stock touched a low of R5.40, a level last seen in June 2015, according to Iress data.

Vodacom Group's new reposition strategy in Africa gets underway

Telecommunications company, Vodacom Group has reached an agreement to sell its operations and assets in Angola to Internet Technologies Angola (ITA). This is in line with the new reposition strategy recently unveiled by the South African-based firm for its markets in Africa. Under the new strategy, Vodacom will move some of its operations between a number of countries in the continent.

Business Nigerian owned renewable energy solutions provider, Arnergy secures $9 million funding

"Arnergy inherently understands the West African market and its need for power reliability. Creating accessibility to reliable renewable energy sources is paramount to economic growth in this region." - Carmichael Roberts of Breakthrough Energy Ventures. Arnergy, a Nigerian owned distributed utility company has announced that it raised $9 Million in a Series A round of funding led by Breakthrough Energy Ventures with participation from the Norwegian Investment Fund for Developing Countries (Norfund), ElectriFI and All On.

Sipho Maseko sells Telkom shares worth R10.8-million

Sipho Maseko Telkom Group CEO Sipho Maseko has sold more than 112 000 shares in the telecommunications operator, bagging R10.8-million in the process. The share options, which vested on 3 June, were sold at an average price of R96.12. The sale comes on the back of a strong performance in Telkom's share price, which has handily beaten other listed telecoms stocks on the JSE in the past year.

Kap's shares fall to worst level in four years

The stock of Kap Industrial, which counted Steinhoff as a major investor until March, has fallen by about a fifth since the start of June alone.

Group Five chair, three directors quit amid business rescue

Embattled construction engineering company, Group Five, on Tuesday announced the resignation of four directors, including board chairperson Nonyameko Mandindi with immediate effect.  The group said that other non-executive directors who have resigned were  Michael Upton , Edward Williams and Cora Fernandez . Mandindi is a professional quantity surveyor and has worked with two listed construction companies in her career.  Their resignations left the group's eight-member board hollowed out, with only four members left having to steer the ship under interim CEO Edward Williams ' leadership.  "The board wishes to thank Nonyameko, Michael, Edward and Cora for their invaluable contribution to the group since their appointments in July 2017 under challenging circumstances and takes this opportunity to wish them well for their future," Group Five said. In March, Group Five resolved to place its companies into business rescue and had applied to the Johannesburg Stock Exchange to suspend trading in its shares after a number of other direct and indirect subsidiaries experienced cash flow difficulties.

How PIC got in bed with Ayo

PRETORIA - Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More has told the PIC inquiry that while she signed off on the payment of the Ayo Technology Solutions deal, she did not approve or disapprove of the transaction. More has been testifying for a second day at the inquiry into alleged impropriety at the PIC.  The R4.3 billion Ayo Technologies deal was in the spotlight with allegations that the company flouted procedure to secure the deal. More has told the inquiry that on 19 December 2017, she was handed a disbursement memo by her personal assistant who said she had to sign it urgently in her capacity as the company CFO.

No-deal Brexit: what it might mean for UK economy

LONDON, June 25 (Reuters) - Boris Johnson, the front-runner to be Britain's next prime minister, has raised the prospect of a shock for the world's fifth-biggest economy by pledging to leave the European Union on Oct. 31 without a transition deal if necessary. Johnson's rival, foreign minister Jeremy Hunt, says he too would be prepared to lead Britain into a no-deal Brexit, but would be more flexible about the departure date. Here is an outline of the potential economic impact for Britain of leaving the EU without the cushion of a transition. UK ECONOMY The Bank of England estimates a worst-case Brexit - involving border delays and markets losing confidence in Britain - could shock the economy into a 5 percent contraction within a year, nearly as much as during the global financial crisis. Output in a less severe but still disruptive no-deal Brexit - in which Britain and the EU avoid snarl-ups at the borders, for example - would fall by around 3 percent. Over the longer term, Britain's finance ministry says the economy could be 8 percent smaller by 2035 after a no-deal Brexit than if it stayed in the EU. The hit would be bigger if migration slowed sharply. The BoE also sees a risk in Britain's wide current account deficit which leaves Britain reliant on "the kindness of strangers," in the words of Bank Governor Mark Carney.

SYGNIA ITRIX (RF) PROPRIETARY LIMITED - Index Constituent Change (SYGSW4)

Wrap Text Index Constituent Change (SYGSW4) The Sygnia Itrix Collective Investment Scheme Sygnia Itrix SWIX 40 ETF JSE code: SYGSW4 ISIN: ZAE000251344 ("SYGSW4") A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. INDEX CONSTITUENT CHANGE In terms of section 19.28 of the JSE Limited Listings Requirements, notice is hereby given to investors of the above ETF securities that the following changes in the constituents of the underlying index are effective from 24 June 2019. The following constituents has been removed from SYGSW4: ISIN Share Previous New Weight Weight ZAE000011953 Netcare 0.53% 0.00% The following constituents has been added to SYGSW4: ISIN Share Previous New Weight Weight ZAE000084992 Exxaro Resources 0.00% 0.91% The above gave affect to changes in the index constituent weights. The portfolio composition file can be viewed at www.sygnia.co.za/etfs/etf-and-etn-fund-range. 25 June 2019 Manager Sygnia Itrix (RF) Pty Limited Sponsor Vunani Corporate Finance Date: 25/06/2019 02:56:00 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.

How Christo Wiese the rich dad of South Africa nearly became…

Billionaire Christo Wiese says he was on the verge of losing everything in the . , at the beginning of 2018, as the Steinhoff share price went into free fall. In March 2017, his net worth, according to Forbes magazine, was at $5.6 billion.

Don't hold your breath: Zim business on foreign currency ban

The decision by the Zimbabwean government to abolish the use of foreign currency for local transactions is welcome, but could have been implemented better, say analysts and various sectors of the business community.  Reacting to the new measures, which saw the Zimbabwean government outlaw the use of foreign currency for conducting local transactions, some said what government had done was not consistent with promises it had been making in recent months.  Lack of trust "The feeling is that there is lack of trust between the authorities and business," Zimbabwe National Chamber of Commerce (ZNCC) chief executive Christopher Mugaga said. "As ZNCC we had a meeting, a fortnight ago, with the Reserve Bank governor, and at no point did he ever try to hint the pending introduction of a new currency.  "So that's a dishonest engagement with business because what it means is that our proposals were ignored, so there is mistrust. The result is that business will not have confidence in the new measures," said Mugaga.  Competitiveness Another business body, the Confederation of Zimbabwe Retailers, was, however, urging its members to embrace the new measures as "these will further improve competitiveness."   "The country has got to move on and embrace its own currency and have independence in monetary policy formulation and implementation," Confederation of Zimbabwe Retailers (CZR) president Denford Mutashu said.  He added, however, that there was a need to "quickly work on confidence building measures around the new currency and also deal with the political side of the economy by putting national interests ahead of own personal aggrandisement, egos and gains/benefits. "Zimbabwe first," he said.  Restraint and prudence  "The CZR further urges the RBZ to exercise restraint and prudence with the printing machine to safeguard the value of the Zim dollar, while the ministry of finance should desist from inconsistent policy pronouncements that has dented trust and confidence in the past. 

KIBO ENERGY PLC - Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley

Wrap Text Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley Kibo Energy PLC (Incorporated in Ireland) Registration Number: 451931 Share code on the JSE Limited: KBO Share code on the AIM: KIBO ISIN: IE00B97C0C31 ("Kibo" or "the Company") Dated: 25 June 2019 Kibo Energy PLC (‘Kibo' or the ‘Company') Five-Year PPA Finalized with Statkraft Markets GmbH for UK Reserve Power Generation Project, Bordersley Kibo Energy PLC, the multi-asset, Africa focused, energy company, is pleased to announce an update on its 60% owned subsidiary, MAST Energy Developments Limited (‘MED'), a private UK registered company targeting the development and operation of flexible power plants to service the UK reserve power generation market. Highlights *Five-year Power Purchase Agreement (‘PPA') with Statkraft Markets GmbH for planned 5MW Bordersley Reserve Power generation project *Key commercial milestone reached as MED focuses on the commercial commissioning of Bordersley end Q1 2020 Louis Coetzee, CEO of Kibo Energy, commented, "Finalizing a PPA with a global player such as Statkraft is a key deliverable in terms of the overall Project Management Plan at Bordersley to deliver a technically and commercially viable project, thereby solidifying the platform for long term revenue creation as of Q1 2020. With a portfolio exceeding 12 TWh from over 400 customers, Statkraft is a natural partner for us and we are delighted to be working with its team." Details As part of its strategy to develop a portfolio of small-scale Reserve Power generation projects, initially in the UK, MED has today concluded negotiations for a five-year Power Purchase Agreement (‘PPA') for its Bordersley project with Statkraft Markets GmbH, a leading provider of long-term PPA's and have agreed to execute the PPA finalized today, on 01 July 2019. Bordersley is MED's first shovel-rea

OPINION: China a strong opportunity for investors

JOHANNESBURG Despite ongoing trade tensions with the US Chinese government policies and proactive market evolution continue to ensure strong opportunities for investment.About 60percent of global equity investments are invested in the US yet China is set to become the worlds biggest economy by 2030.In contrast Chinese equities are significantly underrepresented in global market indices. Shares listed on the Chinese mainland currently have negligible representation despite being the secondlargest stock market in the world. There were challenges with access for foreign investors in the past although they have largely diminished over recent years.

Life sells its Indian business for R3.7bn

JSE-listed private healthcare group Life Healthcare has exited its Indian business, concluding the talks that have lasted for six months..

SYGNIA ITRIX (RF) PROPRIETARY LIMITED - Index Constituent Change (SYGT40)

SYGT40 201906250059A Index Constituent Change (SYGT40) The Sygnia Itrix Collective Investment Scheme Sygnia Itrix Top 40 ETF JSE code: SYGT40 ISIN: ZAE0002251351 (‘SYGT40') A portfolio in the Sygnia Itrix Collective Investment Scheme in Securities, registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002. INDEX CONSTITUENT CHANGE In terms of section 19.28 of the JSE Limited Listings Requirements, notice is hereby given to investors of the above ETF securities that the following changes in the constituents of the underlying index are effective from 24 June 2019. The following constituents has been added to SYGT40: ISIN Share Previous New Weight Weight ZAE000084992 Exxaro Resources 0.00 0.70% The following constituents have been removed from to SYGT40: ISIN Share Previous New Weight Weight ZAE000011953 Netcare 0.41% 0.00% The above gave affect to changes in the index constituent weights. The portfolio composition file can be viewed at www.sygnia.co.za/etfs/etf-and-etn-fund-range. 25 June 2019 Manager Sygnia Itrix (RF) Pty Limited Sponsor Vunani Corporate Finance Date: 25/06/2019 03:07:00 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..

Business Airtel Africa sets share price range ahead of listing on the NSE

Ahead of the much-anticipated listing on the Nigerian Stock Exchange (NSE), Airtel Africa has fixed its share price between N363 and N454. Although the actual offer price is later determined by the demand generated in the bid closure, the price range is significantly higher than that of MTN Nigeria's debut price of N90. According to the offer prospectus, the listing will be done by way of public offering but shares will only be Consequently, only investors with After the book building, the company's shares will be dual-listed on the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE). The telecoms firm has selected Barclays Securities Nigeria and Quantum Zenith Securities Investments Limited as the brokers for the listing in Nigeria.

Safety first: markets wary of world politics and policy and dash for bunkers

By Abhinav Ramnarayan and Ritvik Carvalho LONDON, June 25 (Reuters) - Gold, Switzerland's franc, Japan's yen, top-rated government bonds, and even bitcoin -- investors have dashed for havens and alternative assets this week as anxiety grows about trade wars, U.S.-Iran tensions and negative interest rates. Although world stocks and bonds remain near record highs thanks to promises of ever more central bank largesse, the sudden dash for these financial bunkers shows all is not as calm as a cursory reading of headline indexes suggests. Fears of a global trade war have been simmering for over a year but the latest standoff between Washington and Beijing may come to a head at the G20 summit in Japan this weekend. New U.S. tariffs on Chinese imports could kick in next month if there's no progress between the two sides. Military tensions between the United States and Iran have also gone up several notches after Tehran's downing of an unmanned American drone last week and claims that U.S. retaliation was stopped at the last minute. A fresh wave sanctions on Iran's leaders and a war of words between the two sides have followed. The trade and geopolitical worries are compounding investor concern about a looming global economic downturn and whether central banks are easing policy again quickly enough to offset it.

Western Cape farmers urged to join business chambers

Agricultural leaders and farmers are urged to put their weight behind their local business chambers functioning under the AHi Western Cape, says the President of Agri Western Cape Cornie Swart. Swart says agriculture is without a doubt the backbone of the economy. "We are one of the leading employers in South Africa.

AYO investment: Suspended PIC exec Matshepo More looks to clear her name

Suspended Public Investment Corporation acting CEO and former CFO Matshepo More has sought to clear her name from allegations of governance failures linked to the controversial R4.3bn investment in AYO Technology Solutions in December 2017. More was, as CFO, the second-most senior executive at the state-owned asset manager, after former CEO Dan Matjila.  There have been allegations that AYO misrepresented its value,  Fin24 reported previously . More told the Mpati Commission of Inquiry into the PIC that she signed a disbursement memo for the investment only for the "purpose of confirming that the funds are available".

Jobs increase recorded in non-agricultural business sector

Jobs in the formal non-agricultural business sector increased by 22 000 in the first quarter of 2019, results of the Quarterly Employment Survey (QES) have revealed. Compiled by Statistics South Africa (Stats SA), the report reveals that jobs in the sector had in the quarter risen from 10 152 000 to 10 174 000. "This was largely due to increases in the following industries: community services (19 000 or 0.7%), mining and quarrying (6 000 or 1.3%), manufacturing (5 000 or 0.4%) and business services (5 000 or 0.2%).

EOH Rolls Out 100% Anonymous, Secure Whistleblowing Mobile APP

EOH, Africa's Largest Technology Service Provider, has announced the development and internal launch of the ExposeIT App, a powerful whistleblowing tool that provides a secure, completely anonymous and confidential platform to employees who may be victims of, or bear witness to, wrongdoings of any kind within their organisation. The development of the app came about after Pretoria-based fraud-prevention experts XTND came across an App called Bravely, which was designed to combat bullying at schools by allowing children to anonymously report bullying incidents to authorities. XTND saw the potential and signed an agreement with Bravely's developers, ZappApp, to adapt the app for use in an organisational context as a tool to enable robust cases to be constructed on whistleblower evidence, without the anonymity of the whistleblower becoming compromised.  Identifying information isn't stored anywhere on the system, meaning that even if the App is somehow hacked, whistleblower identities will not be compromised.

Naspers delays listing of its new consumer internet group - NewCo

Late last week, Naspers, one of the largest technology investors in the world, confirmed delays in the proposed listing of its new global consumer internet group - NewCo. According to IOL News, the NewCo was supposed to be listed on the Euronext Amsterdam Stock Exchange, but due to an error in copies of an information circular document delivered to shareholders, with them being incorrectly labelled, the listing was delayed. "The service provider concerned has advised Naspers that the error occurred in pairing the names and addresses of some shareholders for purposes of printing labels on the envelope in which the physical copies of the circular were delivered to certain shareholders, meaning some circulars were sent to the correct addresses of the affected shareholders, but the incorrect names appeared on these envelopes, the names and addresses did not match," explained the company.

Eco-entrepreneurs look to legumes to build thriving food business

Plant-based eating is all the rage these days, but two young entrepreneurs knew the potential four years ago, when they developed a legume pasta in their home kitchen. At the time, they realised they didn't have a rolling pin and reached for an empty red wine bottle. After a happy dance to celebrate their new creation, the duo plotted to grow their business.

Workspace provider WeWork opens up shop in Cape Town

Workspace technology service provider WeWork announced on Monday that it would expand its services to the city of Cape Town, where it will welcome more than 590 members. According to its website, WeWork provides office space to small businesses with technological support and other amenities included. In a statement from the company, WeWork said it will take four of the 11 floors at a property on 80 Strand on a long lease agreement.

How libra could upend Facebook's business model

Mark Zuckerberg Facebook's plan for a new cryptocurrency has the potential to change entire industries. A more likely outcome is that the technology transforms the social media giant's own business. While Facebook makes most of its revenue from advertising, CEO Mark Zuckerberg says the future is private messaging.

Outa calls on Mantashe to intervene to save crude oil reserves

The Organisation Undoing Tax Abuse (Outa) says a Cape High Court case on Friday will determine the fate of South Africa's strategic crude oil reserves that are worth more than R9.3-billion. Outa states that, between December 2015 and January 2016, South Africa's strategic oil reserves had been sold illegally to several companies without due process and with a disregard for any required approval of the boards of directors of both the Central Energy Fund (CEF) and the Strategic Fuel Fund. "The decision to sell our oil reserves was done without notifying the Minister of Finance, which is a statutory requirement." Outa adds that this unlawful transaction has placed South Africa at risk, as the country could find itself in a dire situation if faced with unforeseen emergencies.

Business Vodacom Group's new reposition strategy in Africa gets underway

Telecommunications company, Vodacom Group has reached an agreement to Under the new strategy, Vodacom will move some of its operations between a number of countries in the continent. This includes a share purchase agreement with Internet Technologies Angola, Vodafone Ghana and Synergy Communications in Nigeria, Zambia, and Ivory Coast. "Vodacom has a clear vision for strengthening our position as a leading pan-African business and will work with local service providers to grow in these markets," CEO of Vodacom Group, Shameel Joosub said.

Navigating the world of offshore investments

Potential investors must look at where they are in their life stage, their financial goals, and what their appetite for risk is. Investing offshore has a certain romance to it. It is something that is often talked about as if it is not within the reach of normal South Africans.

Daily News Brief

Soutpansberg, photo credit: Bridget Hilton-Barber FlySafair Passenger Dies While Boarding Plane A man has collapsed and died while boarding a FlySafair flight at OR Tambo International Airport. The airline said the passenger , who was en route to Cape Town on Tuesday, didn't look well and medical help was sought for him. But he died on the scene an investigation was launched.

SUPER GROUP LIMITED - Appointment of an Independent Non-Executive Director to the Audit Committee Of Super Group

Wrap Text Appointment of an Independent Non-Executive Director to the Audit Committee Of Super Group Super Group Limited (Incorporated in the Republic of South Africa) (Registration number: 1943/016107/06) Share code: SPG ISIN: ZAE000161832 ("Super Group") APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR TO THE AUDIT COMMITTEE OF SUPER GROUP Super Group is pleased to announce the appointment of Mr David Ian Cathrall B.Com, B.Acc, CA (SA) to the Audit Committee with effect from 01 July 2019. The vacancy on the committee arose following the resignation of Dr Enos Banda from the board with effect from 30th June 2019. The Board congratulates him on his appointment and wishes him every success. Sandton 25 June 2019 Sponsor Investec Bank Limited Date: 25/06/2019 04:35:00 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.

Business ECOWAS ratifies global certification standard for products in the region

Under the West Africa Quality System Programme (WAQSP), the ECOWAS Commission has developed standards for the certification of some major products to boost the level of international trade in the region. The Product Certification System, which is funded by the European Union (EU) to the tune of EUR 12 million, focuses on five priority products (water, cashew nuts, vegetable oil, cement and fish) for now. It is being implemented by the United Nations Industrial Development Organisation (UNIDO). According to the Representative of ECOWAS Commission for Industry & Private Sector Promotions, Yaya Niato, the aim of the programme is to help ECOWAS implement its regional quality policy as well as set up quality structures and institutions in West Africa.

ATM: Vuyolwethu Zungula: Address by ATM President, during the SONA debate, National Assembly ...

Honourable Speaker Honourable President People of South Africa, you deserve far better! You deserve Servant Leadership When you voted on the 8th of May, you were hoping that your own dreams would finally be realised. You were hoping that the much vaunted "New Dawn" would indeed bring to life your aspirations, as articulated in the Freedom Charter. Instead, last Thursday, you were presented with a dream of an individual.

New Look losses mount as Brexit rains keep shoppers away

INTERNATIONAL  British fashion chain New Look reported a bigger annual pretax loss hurt by a large charge while Brexit woes and rainy weather kept many shoppers out of its stores. New Look whose largest shareholder is South African investment firm Brait reported statutory loss before tax of 522.2 million pounds ($666.4 million) for the year ended March compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound noncash goodwill and brand impairment charge after a restructuring New Look said.

Eating insects will soon go mainstream as bug protein is set to explode into an R114 billion business

Roughly 2 billion people in 130 countries already regularly eat insects. Charlie Floyd Edible insects are set to become an $8 billion (roughly R114.3 billion) business by 2030, according to a new report from Barclays. Eating bugs is becoming increasingly common as the global population swells and Gen Z seeks more sustainable alternatives to traditional meat.

Naspers plan to list on Euronext Amsterdam

Our plans to list our international internet assets on Euronext Amsterdam (AEX) as a new global consumer internet group (NewCo) is designed to achieve two things.First we believe it will provide a strong platform to attract incremental investor capital presenting an appealing new opportunity for international tech investors to have access to our unique portfolio of international internet assets. This is wellaligned to our growth goals.Second as well as opening up investment to a broader category of investors the listing aims to reduce our weighting on the JSE.Naspers now constitutes almost 25% of the JSE SWIX index compared with 5% just five years ago and our outsized weighting on the JSE exceeds most South African institutional investors single stock limits.As a result many South African institutional investors have been forced to sell their shares in Naspers as we have grown to avoid over exposure to any one individual stock. The formation and listing of NewCo is in response to shareholder requests and aims to address this market dynamic which is a key driver of the holding company discount.Naspers remains committed to South Africa.

OUTA: OUTA calls on Minister to save SA's oil reserves

A Cape High Court case set for Friday is a key move in a chess game that will decide the fate of SA's strategic crude oil reserves worth over R9.38bn billion The Organisation Undoing Tax Abuse (OUTA) is calling on Minister of Mineral Resources, Gwede Mantashe to intervene urgently in a matter set before the Cape High Court this Friday, which may have a significant impact on the fate of SA's strategic crude oil reserves amounting to a current value of R9.38bn. Between December 2015 and January 2016, South Africa's strategic oil reserves were sold illegally to several companies without due process and with a blatant disregard for any required approval of the boards of directors of both the Central Energy Fund (CEF) and the Strategic Fuel Fund (SFF). The decision to sell off our oil reserves was also done without notifying the Minister of Finance, which is a statutory requirement.

Egypt aims to tap debt markets for up to $7 bln in new financial year

(Adds location of event in second paragraph) By Tom Arnold LONDON, June 25 (Reuters) - Egypt will tap debt markets for between $4 billion and $7 billion in the coming financial year starting in July and is in talks with the IMF about a non-financial deal to help entice investors, its finance minister said on Tuesday. The country was considering all options for debt instruments, including sukuk, green bonds and Asian currency bonds, Finance Minister Mohamed Maait told Reuters on the sidelines of an investment conference at Bloomberg in London. "This time last year I said we would go for between $4 to $7 billion and eventually we went for $6.2 billion," he said. "Let me repeat what I said last year: between $4-7 billion (for this coming financial year). It depends on market conditions, demand and whether we can diversify to other instruments as we are hoping for green bonds, sukuk." The Egyptian parliament on Monday approved the government's budget for the coming 2019/2020 financial year, targeting a 7.2% deficit for the year and 6% GDP growth. Now that the budget was approved, Egypt will start talks with banks in the first quarter from July to September about a potential bond issue, Maait said, adding that the period from November to February was the normal time for any issuance. Depending on financial conditions, the country could also consider tapping finance from other sources, including the World Bank, African Development Bank, European Bank for Reconstruction and Development and European governments such as France and Germany, he added. "In the Middle East, development partners find Egypt as somewhere to go for as other places have problems.

Canada, U.S. gain as India cuts dependence on Australian coking coal

* US, Canada coking coal accounts for sixth of Indian imports * Australia's share falls to 71% vs 88% three years ago * Indian steelmakers worry about Australia supply disruptions By Sudarshan Varadhan NEW DELHI, June 25 (Reuters) - Shipments of coking coal from the United States and Canada rose to a sixth of all Indian imports of the fuel during the year ended March 2019, as steelmakers in the coal guzzling country look to cut their dependence on Australia. Australia's share in India's coking coal market fell to 71%, or 36.91 million tonnes, during the year ended March 2019 from about 88% three years ago, India coal ministry data reviewed by Reuters showed. The United States and Canada had a 5.6% share of the market three years ago.

Rubicon to provide new conceptual mine plan for Phoenix

The Phoenix gold project, once one of the hottest new gold projects in Canada's Red Lake gold mining district, is set to rise again, CEO George Ogilvie said on Tuesday, announcing that a new conceptual mine plan would be ready in the third quarter. The company previously planned to publish a new preliminary economic assessment (PEA) for Phoenix in the second half of this year, but has now narrowed it down to before the end of September. "The new PEA will benefit from real, operational data collected during our recent test trial mining and bulk sampling programme, where we implemented actual mining techniques that could be utilised under a potential commercial production scenario while using our own processing facility," said Ogilvie in a media statement, noting that the new PEA had the potential to show "strong economics".

Fusing IT and business to dish up a digital transformation treat

It is unlikely to have escaped your attention that the culinary world is witnessing an explosion of fusion cuisine, with chefs mixing various cooking styles and cultures to create previously unimaginable gastronomical delights, writes Tamer Farouk, Regional Senior Director - East and West Africa Applications Sales Leader at Oracle. Challenged to increase the productivity and profitability of their restaurants, these experimental pioneers are embracing innovation to stay ahead of the competition and ensure the long-term viability of the businesses they serve. The pressure currently mounting on the modern CIO is not too dissimilar, with CEOs increasingly demanding that they align their IT processes with the overarching strategic objectives of the organisation and prove the long-term business value of their investments.

SUPER GROUP LIMITED - Appointment of an Independent Non-Executive Director to the Audit Committee Of Super Group

SPG 201906250062A Appointment of an Independent Non-Executive Director to the Audit Committee Of Super Group Super Group Limited (Incorporated in the Republic of South Africa) (Registration number: 1943/016107/06) Share code: SPG ISIN: ZAE000161832 (‘Super Group') APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR TO THE AUDIT COMMITTEE OF SUPER GROUP Super Group is pleased to announce the appointment of Mr David Ian Cathrall B.Com, B.Acc, CA (SA) to the Audit Committee with effect from 01 July 2019. The vacancy on the committee arose following the resignation of Dr Enos Banda from the board with effect from 30th June 2019. The Board congratulates him on his appointment and wishes him every success. Sandton 25 June 2019 Sponsor Investec Bank Limited Date: 25/06/2019 04:35:00 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 founded on R100

Is it possible to start your business with R100? Well it was for Zak Calisto, Founder vehicle tracking and fleet management company Car Track. The company now turns millions in profits, thanks to a similar amount of subscribers all over the world. He sat down with CNBC Africa's Fifi Peters to share his entrepreneurship journey..

The Healthy Business Show: Stop, collaborate and listen

Having the right partners with the right resources can make all the difference to your business. What are some of the secret ingredients to solid business relationships? For this week's guests, Mike Anderson, CEO of National Small Business Chamber, and Jos Dirkx, an international consultant and entrepreneur, learning to listen is an important skill in partnerships. Fred Roed speaks to these seasoned entrepreneurs about their personal experiences and the main attributes in attracting lasting business partnerships.

Have an online business? Your data storage could cost you customers

When customers visit an online business they expect instant access and 24/7 availability. However, if pages take more than a few seconds to load, or transactions cannot be completed quickly, revenue from these potential sales may be lost. In addition, if the website cannot handle large volumes of traffic on sale days, the losses can be catastrophic.

UPDATE 2-Zimbabwe's Mnangagwa talks up currency reform but business wary

* Zimbabwe ends dollarisation after decade * Interim RTGS unit now sole legal tender * Mnangagwa says move part of recovery plan * Business wary after Mugabe's interventions* Union grouping threatens mass action (Writes through after Mnangagwa comments) By Nelson Banya HARARE, June 25 (Reuters) - Zimbabwe's President Emmerson Mnangagwa said on Tuesday that a decision to ban the use of foreign currencies was an important step to repair the economy, but local businesspeople and investors were wary a day after the reform was announced. Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in November 2017, is trying to attract investment and lift growth after a litany of failed economic interventions under his predecessor. His government said on Monday the country's interim RTGS dollar would be the only legal tender, ending a decade during which multiple currencies including the U.S. dollar had been accepted in shops. the surprise manner in which the latest currency reform was announced, and Zimbabwe's track record of printing money to plug holes in its public finances, mean many people do not believe it will succeed. With inflation close to 100% last month and desperate levels of unemployment, Zimbabweans are impatient for progress.

Behind Resilient's grim dividend forecast

Mall owner says power cuts and Edcon struggles have contributed to 6.3% cut Resilient, which was involved in a property scandal that saw it lose more than 60% of its market value in 2018 after traders flogged its shares, has warned that power disruptions and national retailer Edcon's struggles will reduce its dividend growth in its upcoming financial results. The group, which owns malls in small towns such as Tzaneen, Polokwane and Brits, and also has stakes in European retail landlords Nepi Rockcastle and Lighthouse Capital, said problems beyond its control had led to rising costs. It said in a pre-close statement on the JSE's news service that it now expects to pay a dividend close to 530c a share for the year to June, at the lower end of its guidance. The upper end was 550c.

Zimbabwe's Mnangagwa talks up currency reform but business wary

* Zimbabwe ends dollarisation after decade * Interim RTGS unit now sole legal tender * Mnangagwa says move part of recovery plan * Business wary after Mugabe's interventions * Union grouping threatens mass action (Writes through after Mnangagwa comments) By Nelson Banya HARARE, June 25 (Reuters) - Zimbabwe's President Emmerson Mnangagwa said on Tuesday that a decision to ban the use of foreign currencies was an important step to repair the economy, but local businesspeople and investors were wary a day after the reform was announced. Mnangagwa, who replaced longtime leader Robert Mugabe after an army coup in November 2017, is trying to attract investment and lift growth after a litany of failed economic interventions under his predecessor. His government said on Monday the country's interim RTGS dollar would be the only legal tender, ending a decade during which multiple currencies including the U.S. dollar had been accepted in shops. But the surprise manner in which the latest currency reform was announced, and Zimbabwe's track record of printing money to plug holes in its public finances, mean many people do not believe it will succeed. With inflation close to 100% last month and desperate levels of unemployment, Zimbabweans are impatient for progress. Unions are threatening strikes if the government does not overturn its policy. "It has always been clear that for our economy to truly take off, we need our own currency," Mnangagwa said in a statement. "While the multi-currency regime helped stabilise the economy, it did not give us control of monetary policy and left us at the mercy of U.S.

BUSINESS MAVERICK: How likely is the US Fed to disappoint and what can investors do about it?

Over-optimistic and over-extended financial markets could well be disappointed by the US Fed in the months ahead unless the central bank to the world manages to achieve the delicate balance needed to keep growth and financial markets on track. Recommended investment coping strategies range from being incrementally cautious to grinding, pausing, accelerating. --.

Day Two Under-13 SA Rugby Craven Week

The Sharks, Pumas, DHL Western Province and Golden Lions showed great intent on Day Two of the Under-13 SA Rugby Craven Week at HS Rob Ferreira in White River on Tuesday, earning impressive wins. The Sharks and WP produced the most dazzling efforts, with the KwaZulu-Natal side getting nine tries in a seamless win against EP Elephants, while the Cape side scored some sensational tries in their seven-try win against Limpopo Blue Bulls. The Gauteng side and the hosts also played constructive rugby, which nudged them to their second victories in as many days.

Life sells its Indian business for R3.7bn

JSE-listed private healthcare group Life Healthcare has exited its Indian business, concluding the talks that have lasted for six months..

Canada, U.S. gain as India cuts dependence on Australian coking coal

* US, Canada coking coal accounts for sixth of Indian imports * Australia's share falls to 71% vs 88% three years ago * Indian steelmakers worry about Australia supply disruptions By Sudarshan Varadhan NEW DELHI, June 25 (Reuters) - Shipments of coking coal from the United States and Canada rose to a sixth of all Indian imports of the fuel during the year ended March 2019, as steelmakers in the coal guzzling country look to cut their dependence on Australia. Australia's share in India's coking coal market fell to 71%, or 36.91 million tonnes, during the year ended March 2019 from about 88% three years ago, India coal ministry data reviewed by Reuters showed. The United States and Canada had a 5.6% share of the market three years ago. Regular interruptions in India's main supplier over the last few years, including a flood in a major coal producing region in February and a cyclone which tore into Queensland in 2017, have caused worries about major supply disruptions in India. Overall Indian coking coal imports rose 10.3% to 51.84 milion tonnes, while imports of thermal coal - mostly used by utilities - rose 13.72% during 2018-19. Higher Indian coal imports are a boon for international miners such as Indonesia's Adaro Energy, Australia's Whitehaven Coal, U.S. coal miner Peabody Energy Corp and global commodity merchants such as Glencore . India expects its coking coal demand to more than double in 10 years as the country plans to increase its crude steel production to 300 million tonnes by 2030 from current annual production of 132 million tonnes. Indian steelmakers import the bulk of their coking coal needs due to scarce domestic production. The country imported 4.29 million tonnes of coking coal from Canada during 2018/19, accounting for 8.27% of overall India-bound shipments of 51.84 million tonnes. Coking coal imports from

UPDATE 2-Zimbabwe's Mnangagwa talks up currency reform but business wary

(Adds detail, context) HARARE, June 25 (Reuters) - Zimbabwe's largest labour body on Tuesday threatened protests over the government's decision to ban the use of foreign currencies and make the interim currency the sole legal tender. President Emmerson Mnangagwa's government said the move on Monday to abandon a multi-currency system was an important step towards removing economic imbalances. But many Zimbabweans are distrustful after a long succession of failed economic interventions.

BRIEF-Generation Mining Signs Definitive Acquisition Agreement With Sibanye-Stillwater

June 25 (Reuters) - Generation Mining Ltd GENM.CD :* GENERATION MINING SIGNS DEFINITIVE ACQUISITION AGREEMENT WITH SIBANYE-STILLWATER* GENERATION MINING - SIGNED ACQUISITION AGREEMENT WITH SIBANYE GOLD ON CLOSING OF WHICH CO WILL EARN INITIAL 51% INTEREST IN SIBANYE MARATHON PGM DEPOSIT* GENERATION MINING - SIGNED ACQUISITION AGREEMENT WITH SIBANYE GOLD ON CLOSING OF WHICH CO WILL FORM AN UNINCORPORATED JV WITH STILLWATER CANADA* GENERATION MINING - TO ACQUIRE 51% INTEREST IN SIBANYE MARATHON PGM DEPOSIT, CO MUST PAY AN ADDITIONAL $2.9 MILLION IN CASH.

Amplats earnings surge on higher metal prices

A hugely improved forecast is largely thanks to better palladium and rhodium values, with a dash of enhanced cost control Anglo American Platinum expects to report an 80% jump in half-year earnings, bolstered by high metal prices, a weak rand and bold restructuring. In a trading statement on Tuesday, ahead of the publication of its interim results in July, Amplats said headline earnings for the half-year period will be at least 80% higher than a year before, "primarily due to an increase in the rand PGM [platinum group metals] basket price". Basic earnings will also be up at least 180% thanks to the higher prices but also following on from once-off impairments in 2018, the company noted. The platinum price remains depressed and has languished between lows of $800/oz-$900/oz for more than a year.

EMERGING MARKETS-Brazilian real falls on economy worries, dollar lifts other Latam forex

(Corrects in paragraph 10 strategist affiliation to TD Securities from TD Ameritrade) June 25 (Reuters) - The Brazilian real dipped on Tuesday on worries about the country's economy and pension reform plans, while other Latin American currencies rose against a weaker dollar. The Brazilian real edged lower for a second day, while the Mexican peso hovered near two-week lows even as the greenback touch new lows against a basket of major currencies. Minutes from the Brazilian central bank's June policy meeting showed the economy is stagnating and uncertainty surrounding economic and fiscal reforms is clouding the growth and inflation outlook.

CFO says protocols were not ‘established practice' at the PIC

Delegation of authority was not applied, says Matshepo More The Public Investment Corporation's (PIC's) suspended CFO on Tuesday conceded she did not follow the necessary protocols in Iqbal Survé's Ayo Technology Solutions deal in December 2017, saying it was "not established practice" in the organisation. "The delegation of authority (DOA) was not applied at the Public Investment Corporation," said Matshepo More, who was responding to questions from the commission's evidence leader, Advocate Jannie Lubbe, as to why the PIC's delegation of authority process had been ignored. She painted a worrying picture of a CEO who pushed decisions down his subordinates' throats. The DOA is a board-sanctioned requirement that requires the CEO and CFO to jointly authorise investments of the size made in Ayo (R4.3bn). This did not sit well with the commissioners. Gill Marcus asked More repeatedly why she, as one of two executive directors at the PIC (former PIC CEO Dan Matjila was the other), did not request that the board change the process to reflect the practice. The process was only changed in April 2019. The outcome of this attitude was that More could sign a disbursement memo — effectively authorising payment for the R4.3bn investment without having to approve the investment herself.

Suspended acting PIC CEO More blames Ayo deal on Matjila

She gave details of the controversial R4.3 billion Ayo Technologies deal that's suspected to have been secured through the flouting of procedure. | JOHANNESBURG - Suspended acting CEO of the Public Investment Corporation Matshepo More said on Tuesday the approval of payment to Ayo Technology by former CEO Dan Matjila was in contravention of the delegation of authority. More was testifying for a second consecutive day at the PIC inquiry into allegations of impropriety. She gave details of the controversial R4.3 billion Ayo Technology deal that's suspected to have been secured through the flouting of procedure. More was suspended in March after allegations that she interfered in an inquiry into impropriety at the fund manager, which was worth R2 trillion.

Maile ropes in Mashaba's wife into ‘Alex renewal project' fracas

A dispute between Gauteng's Human Settlements MEC Lebogang Maile and Johannesburg Mayor Herman Mashaba continues after it was sparked by allegations of corruption in the Alexandra Renewal Project (ARP). Maile, whose name has been earmarked for alleged corruption regarding the R1.3 billion renewal project, has vehemently denied any corruption, adding that every cent could be accounted for. This after Mashaba pointed to Maile, among others, as a factor that may have contributed to the lack of service delivery in Alexandra.

Business News - 25 June 2019

Employment grew in the first quarter, Omnia plans to sell some of its shares and Denel is unable to pay salaries in full this month..

Risk-off day on markets a boon for gold, bonds

Global markets are treading lightly as US, Iran tensions increase. Tuesday marked a risk-off mode for global markets, with investors jumping into safe-haven assets. The Alsi was down 0.7%, while the gold price was trading around $1,430/oz.

Bombardier exits commercial aviation with sale of regional jet business to Mitsubishi

(Adds comment) By Allison Lampert and Debroop Roy June 25 (Reuters) - Bombardier Inc said on Tuesday it will sell its money-losing regional jet business to Japan's Mitsubishi Heavy Industries Ltd (MHI) for $550 million in cash, in a deal marking the Canadian plane and train maker's exit from commercial aviation. Montreal-based Bombardier has been selling off its weaker-performing commercial plane programs aimed at airlines to focus on profitable business jets and passenger rail cars. The company faced a cash-crunch in 2015 while bringing a larger narrowbody to market. As part of the deal with Mitsubishi, which is expected to close in the first half of next year, the Japanese firm will also take over a $200 million debt. In an interview, Bombardier Chief Executive Alain Bellemare said some proceeds from the deal would go toward paying down debt, although he would not offer specifics. "I'm not going to do the math, but that's clearly the game plan," he said by phone. Bombardier has an additional $400 million liability from residual value guarantees provided to airlines on the regional jet program. Bombardier will continue to assemble its regional jet planes (CRJ), but will stop making the aircraft in the second half of 2020, after it finishes delivering its remaining backlog of 42 orders. CRJ's profitable aftermarket sales, engineering expertise and heavy maintenance centers in the United States, would be useful for Mitsubishi, which is trying to develop and certify its delayed regional jet program, the MRJ. "It's an important step for us as a whole," said Dan Lochmann, a spokesman for MHI. Bellemare said about 400 workers who produce the CRJ in the Montreal-area would likely find other jobs, such as with Europe's Airbus SE which acquired Bombardier's former flagship commercial plane last year. The plane is now called the A220.

Motorcyclist crashes into back of car in Springfield Park, Durban

KwaZulu-Natal: At 10H36 Tuesday morning Netcare 911 responded to reports of a collision on Umgeni Road in Springfield Park Durban. Reports from the scene indicate that a motorcyclist drove into the back of a car. The patient, a male in his late twenties was assessed and found to have sustained moderate injuries. He was treated on scene and once stabilised was transported by another ambulance to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911 https://t.co/S0KU2p6mVh #ArriveAlive @Netcare911_sa @motocyclesafety pic.twitter.com/S2QeMdEXy0 — Arrive Alive (@_ArriveAlive) June 25, 2.

BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listing

Naspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE's indexes, but fund managers are concerned the effect could, in fact, be the opposite..

BUSINESS MAVERICK: Bullion's current tear offers scant golden opportunity for South African producers

Bullion's spot price is on the up, hitting six-year highs on the prospect of lower US interest rates and rising tensions between Washington and Tehran — a winning combination for gold bulls. South African producers of the precious metal should see rising profits as a result, but there is no golden opportunity for an industry in a serious state of decline. And the ultimate costs to the South African economy may be high, given that Donald Trump's actions are helping to propel gold's run.

US STOCKS-Wall St sinks as hopes fade for rate cuts, trade progress

* Fed's Powell and Bullard dampen rate cut optimism * Tech leads all three major U.S. indexes lower * Allergan (NYSE:AGN) jumps on AbbVie's $63 bln purchase announcement * Indexes down: Dow 0.67%, S&P 500 0.95%, Nasdaq 1.51% (Updates to market close) By Stephen Culp NEW YORK, June 25 (Reuters) - Wall Street stock indexes fell on Tuesday, led by a sharp selloff in technology shares, as simmering trade concerns and disappointing economic data sent buyers to the sidelines, while the Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates. All three major U.S. stock indexes ended the session in the red after Powell said the Fed was grappling with whether trade uncertainties and other issues warrant rate cuts. Speaking at the Council on Foreign relations, Powell also reiterated the Fed's independence, a day after Trump tweeted the Fed "doesn't know what it's doing." St.

BUSINESS MAVERICK: CEOs in South Africa are quitting their jobs, triggering a succession crisis

CEOs in South Africa are falling like flies — 11 CEOs of JSE-listed companies and business lobby groups have resigned since January 2019. (Image sources: Nastuh Abootalebi / Unsplash / Craig Whitehead / Unsplash / Helloquence / Unsplash) Corporate South Africa has recently been infected by a state-owned enterprise disease. The symptoms of the disease? A high turnover of CEOs in a short space of time.

SA mining stocks, led by gold, surge to highest level since 2008

There might be conflict in the workplace, but on the financial markets South African mining stocks haven't done this well since the peak of the last great resources bull run. The surge in prices has been driven by a potent cocktail of a weaker domestic currency and the steady rise in costs translating into high leverage to rising global commodity prices. And as the graphs below illustrate, it's not just gold shares that are rewarding shareholders.

BUSINESS MAVERICK: Fund managers concerned about unintended consequences of Naspers Amsterdam listing

Worries about unintended consequences are dogging the Naspers listing on Euronext Amsterdam in the next few months. (Image: Verne Ho/Unsplash / Naspers logo) Naspers is planning to list its international businesses on Euronext Amsterdam in the next few months, but the listing could have a perverse effect on local and foreign fund indexes. One of the claimed advantages is that the unbundling will decrease the way the tech company dominates the JSE's indexes, but fund managers are concerned the effect could, in fact, be the opposite.

Win one of 5 copies of the cookbook Meals by Christine Capendale

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BUSINESS MAVERICK: Obscure company targets coal mining project on Kruger Park doorstep

A little-known company called Manzolwandle Investments wants to start coal mining operations on the doorstep of the Kruger Park's southern border, near Komatipoort. It has already submitted a scoping report, which is an initial assessment of a mining project's viability. Local residents are concerned and it is sure to get on the radar screen of conservationists.

Cautionary tale of tax incentives for cigarette makers from Zambia

Tobacco growing has . Tobacco companies are zeroing in on one of the last global markets still ripe for exploitation: the African continent. Much of the tobacco leaf and some of the manufactured cigarettes produced on the continent are exported. These exports earn the foreign currency that is attractive to the finance ministries of tobacco-producing countries.

Business Maverick: Cotton SA could emerge as a serious contender

Today, Cotton SA is hanging by a thread as local policy failed to stand up to aggressive protectionism measures enforced by trading partners. But some state capital and corporate commitment in setting up a local sustainable cotton cluster might have turned the tide. The local Sustainable Cotton Cluster (SCC) is dreaming big.

SA savers getting great value in global arena. Thanks to Naspers.

One of the first things to strike any South African working in the First World is the country's relative insignificance in a global context. Particularly in the financial world. A friend who was always one of the first ports for any potential deals while in SA, told me by the time opportunities get offered to him got to him in London, they'd first been presented to a couple dozen others.

PE Business News: Bluewater Reservations

Promote your business on BuyPE and MyPR. Bluewater Reservations: Located in Port Elizabeth, Bluewater Reservations is within a 15-minute … Eligible Qantas hotels excludes Classic Hotel Rewards. A business must be a Qantas Business Rewards Member to earn Qantas … Source: "Port Elizabeth" business - BingNews.

The Week Ahead of 24 June 2019

Geopolitical tensions in the middle east escalated significantly last week with the shooting down of an unmanned US drone by Iran. US President Donald Trump's initial response was to consider bombing Iran in retaliation but he backed off and subsequently decided to apply more sanctions against the Islamic republic. The oil price spiked higher briefly but has settled down again.

Equites lined up for July listing on A2X

The property fund sees a secondary listing on A2X as an opportunity to attract new investors and deliver more value for shareholders. Equites Property Fund will become the third property group to list on A2X Market when its shares start trading next Monday. The real estate investment trust said listing on the exchange was an opportunity to attract potential new investors and deliver more value to shareholders by providing investors with the choice of a low-cost venue on which to transact its shares.

Business Maverick: Despite climate pledges, G20 coal subsidies rise

Between 2014 and 2017, G20 governments more than halved direct support for coal mining, from $22 billion to about $10 billion on average each year, according to a report by the London-based Overseas Development Institute (ODI), a think tank. But over the same period they boosted backing for coal-fired power plants - particularly supporting construction of the plants in other, often poorer nations - from $17 billion to $47 billion a year, the report noted. China and Japan - which will host a G20 summit later this week in Osaka - were the biggest providers of public finance for coal-fired power, followed by South Korea and India, it said.

ANALYSIS: The nation is hungry for State Capture arrests

While the immediate political stakes involved in any decisions made by the NPA are immensely high, they are easily as high for the longer-term future of our criminal justice system. When the commentariat casts its eyes over the general political scenery, much of the debate tends to centre on the balance of power in the ANC. This precarious balance could be tipped at any time.

PRESS DIGEST- British Business - June 25

June 25 (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 Britain-based hedge fund Seneca Investment Managers is understood to have approached other institutional shareholders to force changes to the five-person board at Woodford Patient Capital Plc.

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

Sanctioned Again Donald Trump imposed additional sanctions on Iran, including against  supreme leader  Ayatollah Ali Khamenei, in retaliation for last week's downing of a U.S. drone. The restrictions would deny Khamenei access to financial resources, as he's "the one who ultimately is responsible for the hostile conduct of the regime," the president said.

Business Maverick: Zimbabwe Dollar Returns, a Decade After It Became Worthless

The central bank said that effective immediately, currencies including the U.S. dollar and the South African rand, in use since 2009, will no longer be accepted as legal tender. A local quasi currency known as bond notes, which was introduced in 2016 but can't trade outside the country, and their electronic equivalent, the RTGS dollar, will now be known as the Zimbabwe dollar.

State capture: How a cash-in-transit business laundered money

JOHANNESBURG - A company trading as a cash-in-transit business was actually a bank. Kalandra Viljoen testified at the state capture inquiry on Monday. Her company, Asset Movement Financial Services, transferred millions in cash that may have assisted with money laundering.

State capture: How a cash-in-transit business laundered money

JOHANNESBURG - A company trading as a cash-in-transit business was actually a bank. Kalandra Viljoen testified at the state capture inquiry on Monday. Her company, Asset Movement Financial Services, transferred millions in cash that may have assisted with money laundering.

German business confidence ebbs further in June

While German businesses worry about the future, the latest Ifo survey found that they see their current situation as having improved. BUSINESS NEWS - Confidence among German business leaders fell slightly in June, a regular survey showed Monday, continuing a months-long trend analysts blame largely on global trade uncertainty. The Munich-based Ifo institute's monthly barometer fell 0.5 points, to 97.4, in line with forecasts from analysts surveyed by Factset and its lowest level since November 2014.

Atomic Access slashes business fibre pricing

Atomic Access, a Cape Town-based fibre-only service provider, has announced new FTTB packages on the Octotel fibre network, with pricing reduced by as much as 40%. This follows a major pricing decrease from Octotel, which will take effect at the end of July 2019. "These are some of the best value business fibre solutions available in South Africa today, with low latency, low set up cost, and quick installation times," says Nicholas Soper, MD of Atomic.

Our Planet: Our Business, and our conversations

A commentary by Richard Oldfield inspired by Our Planet: Our Business — a new film that sends out a call to action for private enterprise to play a leading role in the innovation, recovery, and restoration needed to avoid environmental collapse. Whether or not you believe that human activity is responsible for climate change, the reality of environmental crisis is inescapable. Because of their technological and managerial acumen, and their capacity for innovation, businesspeople are being called upon to take the lead in finding solutions..

SA govt hosts business forum for UAE trade, investment delegation

JOHANNESBURG, June 25 (ANA) - The government will on Tuesday meet a United Arab Emirates delegation on a trade and investment mission to Johannesburg to garner the knowledge and contacts necessary to do business in South Africa for UAE-based companies..

Suspended Acting CEO Matshepo More To Continue Testimony At PIC Inquiry

Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More was expected back on the stand at the inquiry into the corporation on Tuesday to reveal more details on the running at the PIC and respond the allegations against her. More started her testimony on Monday where she denied interfering in the work of the commission; the allegation that led to her suspension. She has also denied victimising any of the employees of the PIC.

Rich programme of talks and workshops at 2019 NAF

Much of the action at the National Arts Festival, which runs from 27 June to 7 July in Makhanda (formerly Grahamstown), takes place on the stages but there's a lot going on off-stage too, with an exciting programme of thought-provoking talks and workshops to enrich and complement every Festival-goer's experience. Interactive audience experiences are spread across ‘artist walkabouts', where the artist, curator or an art expert leads a discussion around an exhibition; visual art workshops; post-show discussions; and dozens of talks and discussions in the Critical Consciousness, Creativate Digital Arts Festival and Wordfest programmes. Critical Consciousness Critical Consciousness is an open platform for debate and considered opinion and features talks on subjects that vary from intellectual property for the creative industry to politics and activism to music listening sessions.

GLENCORE PLC - GLN: Transactions In Own Share-24 June 2019

GLN 201906250028A GLN: Transactions In Own Share-24 June 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 June 2019 Transactions in own shares-24 June 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 June 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 1,000,000 Lowest price paid per share (GBp): 277.5500 Highest price paid per share (GBp): 281.5500 Volume weighted average price paid per share (GBp): 279.2883 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 901,156,970 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 13,685,043,096. 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 Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 279.2926 639,807 BATS 279.5359 9,321 Chi-X 279.2739 350,872 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 indiv

South Africa's Amplats expects 80 pct jump in half-year earnings

JOHANNESBURG, June 25 (Reuters) - Anglo American Platinum (Amplats) said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by an increased metals price and one-off impairments that weighed on results in the same period a year earlier. Amplats said headline earnings for the six months ending June 30 were expected to be 2.69 billion rand ($188 million)more than the 3.363 billion rand earnings reported in the same period a year ago. Amplats is expected to report its half-year results in July, 22.

Zimbabwe: Art Corporation Export Sales Up 30%, Joins Rush for Foreign Markets

[New Zimbabwe] ZIMBABWE Stock Exchange (ZSE) listed company, Amalgamated Regional Trading (ART) Corporation has recorded a 30% surge in regional export sales as the firm remains geared to penetrate regional firms in a similar pattern being pursued by many companies in the country..

JSE could open lower on Tuesday as Omnia reports

JSE could open lower on Tuesday as Omnia reports Fertiliser and chemicals maker Omnia has come under fire for plans to sell shares soon after saying it has enough capital 25 JUNE 2019 - 07:20 NICK HEDLEY Chinese President Xi Jinping and US President Donald Trump at Mar-a-Lago estate in Palm Beach, Florida on April 6 2017. Picture: REUTERS Chinese President Xi Jinping and US President Donald Trump at Mar-a-Lago estate in Palm Beach, Florida on April 6 2017. Picture: REUTERS SA stocks could open weaker on Tuesday as investors shift their attention to geopolitical tensions in the Middle East and the much-anticipated Group of 20 (G20) summit later in the week. US President Donald Trump imposed fresh sanctions against Iran on Monday after the Middle Eastern nation shot down a US drone.

South Africa's rand firmer as dollar falls on rate cut bets

JOHANNESBURG, June 25 (Reuters) - South Africa's rand firmed early on Tuesday, boosted by a dollar slide to multi-month lows against other major currencies as investors looked to emerging markets in the wake of dovish turn by U.S. and eurozone central banks. At 0730 GMT the rand was 0.37% firmer at 14.3100 per dollar from an overnight close of 14.3600.

Gut ramps up leadership with another top David vet

Global independent agency Gut is bolstering its leadership with the addition of former David Miami exec Paulo Fogaca, who joins as chief operating officer and partner.  The appointment marks a reunion between Fogaca and agency founders and Anselmo Ramos and Gaston Bigio, who opened Gut in April last year in Miami and Buenos Aires, Argentina. The shop recently expanded with a third office in São Paulo, Brazil, and now boasts about 41 staffers. Its client list globally includes Tim Hortons, Domino's, Netflix, Mercado Libre and Nestle.  Fogaca has been David Miami's managing director and global chief operating officer.

Suspended CEO Matshepo More to continue testimony at PIC inquiry

Matshepo More started her testimony on Monday where she denied interfering in the work of the commission the allegation that led to her suspension. | JOHANNESBURG - Suspended acting CEO of the Public Investment Corporation (PIC) Matshepo More was expected back on the stand at the inquiry into the corporation on Tuesday to reveal more details on the running at the PIC and respond the allegations against her. More started her testimony on Monday where she denied interfering in the work of the commission; the allegation that led to her suspension.She has also denied victimising any of the employees of the PIC. More said all she did was propose to the board to appoint an external legal firm to assist employees on a voluntary basis in preparing their statements for the commission.

WATCH: Stock picks — Richemont and Anglo American

Nick Kunze from Sanlam Private Wealth and Joseph Busha from JM Busha Investments talk to Business Day TV Nick Kunze from Sanlam Private Wealth chose Richemont as his stock pick of the day and Joseph Busha from JM Busha Investments chose Anglo American. Kunze said: "Richemont have been trading at the upper end of the range and I have a couple reasons for choosing them." Busha said: "I choose Anglo American as I think there's a little bit of positivity that is coming through.".

Phase 2A of Mokolo-Crocodile Water Augmentation project in South Africa begins

Phase 2A of Mokolo-Crocodile Water Augmentation project in South Africa has commenced. Trans-Caledon Tunnel Authority (TCTA) announced the reports. The project which is is strongly associated with minerals and energy projects in the Limpopo province, has an estimated capital cost of US $858m and scheduled for completion in May 2026.

GLENCORE PLC - GLN: Transactions In Own Share-24 June 2019

Wrap Text GLN: Transactions In Own Share-24 June 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 June 2019 Transactions in own shares-24 June 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 June 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 1,000,000 Lowest price paid per share (GBp): 277.5500 Highest price paid per share (GBp): 281.5500 Volume weighted average price paid per share (GBp): 279.2883 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 901,156,970 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 13,685,043,096. 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 Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volum

SA govt hosts business forum for UAE trade, investment delegation

JOHANNESBURG - The government will on Tuesday meet a United Arab Emirates delegation on a trade and investment mission to Johannesburg to garner the knowledge and contacts necessary to do business in South Africa for UAE-based companies. The business forum is a culmination of meetings that began on Sunday with a business exhibition at the Africa Trade Week. Led by the trade promotion department of the UAE ministry of economy, the mission consists of high-ranking business and government delegates from various sectors.

It's becoming harder to stay employed in South Africa

Bloemfontein Courant - News you can use Don't expect an improvement in the country's employment figures when Statistics South Africa (Stats SA) releases numbers for the first quarter of 2019 later today, with a spate of large companies having announced plans to cut staff since the beginning of the year. Although about 80 000 jobs were added in the last three months of 2018, indications are that there will not be a repeat of this growth. A sluggish economy and an increasingly cost-focused private sector have seen businesses prepare to let go of some of their staff.

South Africa's Amplats expects 80 pct jump in half-year earnings

JOHANNESBURG, June 25 (Reuters) - Anglo American (LON:AAL) Platinum (Amplats) AMSJ.J said on Tuesday it expected its half-year earnings to rise by at least 80%, helped by an increased metals price and one-off impairments that weighed on results in the same period a year earlier. Amplats said headline earnings for the six months ending June 30 were expected to be 2.69 billion rand ($188 million)more than the 3.363 billion rand earnings reported in the same period a year ago. Amplats is expected to report its half-year results in July, 22. ($1 = 14.3250 rand).

A business founded on R100

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Higher rand PGM basket price contributes to 80% jump in Amplats' interim headline earnings

Platinum-group metals (PGMs) miner Anglo American Platinum (Amplats) expects its headline earnings for the six months ended June 30 to be 80%, or R2.69-billion, higher year-on-year, mainly as a result of an increase in the rand PGM basket price. The company had reported headline earnings of R3.36-billion for the six months ended June 30, 2018. In a trading update published on Tuesday, Amplats said its basic earning a share for the six months to June 30 were likely to be 180%, or R3.92-billion, higher than the earnings of R2.18-billion reported in the prior comparable period.

Retrenchment tracker: South Africa's big corporate job losses in 2019 - so far

Several South African companies are retrenching staff in a very tough economy.  Standard Bank, Absa and other large corporates are among those that plan job cuts.  Business Insider SA compiled a list of retrenchments announced since the start of 2019. For more stories  go to www.businessinsider.co.za . The alarming state of the South African economy is taking a heavy toll on companies, and many have announced retrenchments.  These are some of the biggest job losses since the start of the year: February Grand Parade Investments closed Dunkin Donuts and Baskin Robbins in South Africa to improve the group's cash reserves.

Amplats expects 80 percent jump in interim earnings

JOHANNESBURG, June 25 (ANA) - Mining company Anglo American Platinum said on Tuesday it expected headline earnings per share for the six months ending June 30 to be at least 80 percent higher compared with the same period in 2018. ANA NEWS WIRE Disclaimer: The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality. ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video.

Pitch to win R80 000 in cash for your business at the ENGEN Pitch and Polish workshop

Polish your pitch to perfection and grow your business at the annual entrepreneurial pitching competition, ENGEN Pitch & Polish, held in Durban on Saturday July 20. The free entrepreneurial training workshop and competition will be hosted at the Olive Convention Centre. Celebrating its tenth anniversary this year, ENGEN Pitch & Polish is a national entrepreneurial workshop and competition programme that, so far, has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.

New Look losses mount as Brexit, rains keep shoppers away

June 25 (Reuters) - British fashion chain New Look reported a bigger annual pretax loss, hurt by a large charge, while Brexit woes and rainy weather kept shoppers out of its stores. New Look, owned by South African investment firm Brait , reported statutory loss before tax of 522.2 million pounds ($666.4 million) for the year ended March, compared with a loss of 190.2 million pounds a year earlier. The loss was mainly driven by a 423.3 million pound non-cash goodwill and brand impairment charge after a restructuring, New Look said.

Why Naspers is backing Facebook's cryptocurrency project

Naspers CEO Bob van Dijk believes cryptocurrencies could have a huge and positive impact on societies by allowing for frictionless and costless transfer of value between people, something that doesn't exist in the world of fiat currencies. Speaking to TechCentral following the publication of Naspers's annual results on Friday, Van Dijk said the group, through its subsidiary PayU, is "excited" about working with Facebook and other partners in developing the libra cryptocurrency. PayU is one of about 30 firms that has joined the Libra Association, a group of companies that will have an equal say in how the cryptocurrency is managed.

How to set your business' EE targets in line with the Envisaged Amendments to the Employment Equity Act

by John Botha: COO of Global Business Solutions It is envisaged that the amendments to the Employment Equity Act (EEA) will be promulgated in early 2020. These amendments are currently being debated by the National Economic Development and Labour Council (NEDLAC). The EEA draft amendments give the Minister the right to implement these targets and to preclude designated employers who are unable to achieve these from accessing public sector tenders.

RESILIENT REIT LIMITED - Pre-close update

Wrap Text Pre-close update RESILIENT REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/016851/06) JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF (Approved as a REIT by the JSE) ("Resilient" or "Company") PRE-CLOSE UPDATE In anticipation of Resilient's results for the year ended 30 June 2019, the following pre-close update is provided. The financial information on which this update is based has not been reviewed or reported on by the Company's external auditors. Distributable earnings - Edcon: Edgars intends closing two stores in the portfolio. There is demand from national tenants for this space at higher rentals. With effect from 1 April 2019, Resilient will only be including 59,1% of its basic rental on Edgars, Edgars Beauty and Jet stores in its distributable earnings.

International investors dispose of Tsogo Sun stock

JOHANNESBURG Tsogo Sun Holdings shares fell by 8.4percent yesterday morning after international investors sold more than 29 million shares through an accelerated book build. The shares closed 1.88percent down at R16.19 on the JSE yesterday.The leisure and gaming group said 29581618 Tsogo Sun Hotels ordinary shares were placed with qualifying institutional investors at a price of R4.05 an ordinary share at the closing of the book. It said the placing price represented a 4.5percent discount of the closing price of Tsogo Sun Hotels ordinary shares on Friday June 21.The book build comes weeks after the groups separation of the hotel interests culminated in the unbundling and listing of Tsogo Hotels Limited (THL).Asief Mohamed the chief investment officer of Aeon Asset Management said the sale via the book build was a separate decision by the international investors to sell Tsogo Sun hence the drop in price after the news came out that international investors wanted to sell.

The very many lawsuits facing Steinhoff

Steinhoff, together with certain subsidiaries, is facing a proliferation of legal actions including class actions across different jurisdictions. The material uncertainty with respect to this litigation resulted in a disclaimer of audit opinion from the external auditor. The inability to quantify and assess the validity of these legal claims further muddies the ultimate impact on the liquidity of the group.

De Beers diamond sales plunge again

De Beers's diamond sales plunged again at the company's latest offering, underlining a slump in demand from the miner's customers who are struggling to make a profit at current prices. Sales by the Anglo American unit plunged 33% from a year ago to just $390m and were down 6% from an offering last month. While this is often a quieter time of the year following the key holiday period, total sales for 2019 are still much weaker than in previous years.

Look past trade war and emerging markets seem surprisingly good

Economists estimate that emerging markets may suffer less than developed ones from the trade war. Rocked by trade disputes, the possibility of a US recession and the ever-present threat of political conflagration, the backdrop for emerging and frontier markets has rarely seemed less settled. Dare to look past the turmoil, though, and opportunities abound. Higher bond yields are attractive at a time when the world's richest nations house about $13 trillion in negative-yielding debt.

U/16 Pumas show their class in spirited win

The Phakisa Pumas had to fight hard against a very physical Limpopo Blue Bulls to win their opening game of the 2019 Grant Khomo Week at Hoërskool Rob Ferreira yesterday. The host union's team won 29-10. The Limpopo team held much of the territorial advantage and had more possession in the first half.

Labournet Port Elizabeth recognised a Top 50 business in Nelson Mandela Bay

Port Elizabeth - On Friday, at an event hosted by the Nelson Mandela Bay Municipality, sponsored by the Eastern Cape Development Corporation, Mayor Mongameli Bobani, recognised LabourNet as one of the TOP 50 businesses in the Nelson Mandela Metropole. LabourNet Eastern Cape was established in January 2005 and has cemented itself as the market leader in the local Human Resources industry with a wide range of services which encompass the entire life-cycle of an employee, including Industrial Relations, Occupational Health and Safety, Transformation (BBBEE, Employment equity and Skills Development), Learnings & Development, and Payroll and Human Capital Management services. Managing Director, Robert Niemand, would like to, on behalf of his awesome team, thank all their clients for their loyalty over the past 15 years.

Quick! Don't miss the business-boosting benefits of putting your customers first

There's no denying that the 'content is king' model has taken a more retail-related slate of late, in that the customer - particularly the customer experience - is fast becoming a top business priority. Read on for key insight's shared at Kantar's recent 'innovation for growth' workshop... The speakers at Kantar's Innovating for Growth workshop: Mark Molenaar, Ansie Lombaard, Adhil Patel, Bernd Grosserohde and Philip Collier.

Finance business raided by armed robbers

Gunmen stormed Discount Finance this morning, holding 2 employees at gunpoint. According to sources, the 3 gunmen demanded the employees open a safe. Approximately R15 000 was taken from within the safe and the gunmen fled the scene.

SA business urged to invest in business interests that also uplift poorer communities (Thuli Madonsela)

South Africans must tackle the triple challenge of socio-economic inclusiveness, economic growth and sustainability for the country to have any hope for a peaceful and prosperous future. This is according to Prof. Thuli Madonsela - chief patron of the Thuli Madonsela Foundation and the nation's favourite ex Public Protector (PP) - who also appealed to business, government and society to form a strong compact to build a functioning South Africa.

Life sells its Indian business for R3.7bn

DURBAN - JSE-listed private healthcare group Life Healthcare has exited its Indian business, concluding the talks that have lasted for six months by disposing of its 49.7percent stake in India's Max Healthcare for R3.7 billion. The group said it had successfully concluded a share purchase agreement with Radiant Life Care, which was entered on December 24 last year. Radiant acquired the stake for 80 rupees a share, which equals R16.52 a share, and this equates to R3.7bn of net proceeds received after costs, hedges and taxes, which resulted in a profit on disposal of approximately R900million.

Glencore cuts out agents and dealmakers as scrutiny grows

LONDON - Glencore is cutting out many of its intermediaries - the agents and dealmakers once essential to cracking the toughest markets - amid growing scrutiny of its operations around the world. Under pressure from its compliance division, Glencore is dismantling much of its global network of trading agents, according to people familiar with the situation. To continue operating, the company is setting up teams in some countries, said the people, asking not to be named as the matter is private.

Life sells its Indian business for R3.7bn

JSE-listed private healthcare group Life Healthcare has exited its Indian business, concluding the talks that have lasted for six months..

EdTech business gets boost from Raizcorp partnership

Partner Elite, a division of business incubator Raizcorp, recently entered into a partnership with Advantage Learn, a high-growth educational technology business. Advantage Learn provides quality content and educational support through a combination of blended and online learning with a special focus on mathematics, science and NBTs (National Benchmarking Tests). The partnership between Advantage Learn and Partner Elite not only supports the current national discourse on the critical importance of STEM subjects at the school level in South Africa, but also has the potential to expand its offering to include high-quality bespoke tertiary education support as well as to grow into an export model..

Aveng finalises water business sale

JSE-listed construction company Aveng on Tuesday received R85-million from Infinity Partners as payment for the sale of the Aveng Water business. Aveng announced the sale to the 100% black-owned company in January, with an original selling price of R95-million, which was subsequently reduced during the due diligence process. Aveng said the finalisation of the sale underpinned the company's commitment to refocusing Aveng to become an international infrastructure, mining and resources group.

UPDATE 1-South African rand slips after strong gains last week

(Updates throughout) JOHANNESBURG, June 24 (Reuters) - South Africa's rand slipped slightly on Monday after strong gains last week, as investors waited for direction from this week's Group of 20 summit. Local stocks and government bonds also weakened. At 1820 GMT the rand was around 0.4% weaker than its previous close at 14.3725 per U.S.

Business discussions over breakfast bear fruit

Tourism and investment opportunities on the South Coast were placed firmly on the table during discussions at a business breakfast hosted by the KwaZulu-Natal Department of Trade and Investment (DTI) together with Ugu District municipality at Umdlalo Lodge recently. ALSO READ :  PICS: Ziphakamise in the spotlight at SCCC business breakfast Speaking at the event, KZN DTI spokesman Ayanda Zuma said the breakfast aimed to highlight the variety of investment and tourism opportunities on the South Coast and in KwaZulu-Natal. "By having these discussions we want to contribute to economic growth and job creation by facilitating access to essential economic information in all parts of the province and to share the provincial planned enterprise development and marketing initiatives available," she explained.

The very many lawsuits facing Steinhoff

Steinhoff, together with certain subsidiaries, is facing a proliferation of legal actions including class actions across different jurisdictions. The material uncertainty with respect to this litigation resulted in a disclaimer of audit opinion from the external auditor. The inability to quantify and assess the validity of these legal claims further muddies the ultimate impact on the liquidity of the group.

Business robbery in Holfontein

Approximately 30 suspects stormed into a Holfontein business on Sunday evening and got away with goods valued at R130 000. Three armed suspects initially entered the business and tied up the three security guards that were on duty with shoelaces. Thereafter, between 20 to 30 suspects, with one Mercedes Sprinter kombi, Toyota Quantum and a four ton truck, entered the premises.

Business must lead SA's rehabilitation

If only in its own self-interest. As a country, South Africa is still coming to terms with the scale of the damage inflicted during Jacob Zuma's presidency. The incompetence and corruption that characterised that administration have had far-reaching consequences. Speaking at the CoreShares ‘Think Index Investing' Convention in Johannesburg last week, the CEO of Business Leadership South Africa, Bonang Mohale, delivered a blunt assessment of how much had gone wrong. "We were lucky to emerge from those nine wasted years," said Mohale, "because if our democracy was not robust, if our institutions did not hold, there is no country in the world that could have survived the type of systemic and systematic state capture that we were subjected to.

Steinhoff: Proliferation of legal actions pose threat

Group will seek to recover losses and damages suffered. Steinhoff, together with certain subsidiaries, is facing a proliferation of legal actions including class actions across different jurisdictions. The material uncertainty with respect to this litigation resulted in a disclaimer of audit opinion from the external auditor.

Australia's GrainCorp to appoint Graham Bradley as malt business chair

June 24 (Reuters) - Australia's biggest listed bulk grain handler, GrainCorp Ltd, said on Monday it would appoint Chair Graham Bradley as chairman of the malt business, if the planned spinoff of its global malting unit proceeds. Peter Richards has been appointed deputy chairman of GrainCorp effective immediately and will take over as GrainCorp chairman if the demerger is carried out, the company said in a statement. In April, the Australian takeover target said it planned to split in two, spinning off and listing its malt unit and restructuring its grain business, whose earnings have been hit by drought.

BUSINESS MAVERICK: Naspers approaches its existential crisis

Naspers faces a pivotal moment; can it graduate from being a wild, somewhat haphazard, occasionally inspired tech investor to being a focused operator? For such a huge company, Naspers has a peculiar problem similar to someone who just arrived at a new school from out to town. Who are they? Are they important? Who are their friends going to be? Should we just ignore them? Could they make the first team? You could call it a self-recognition problem on steroids. Naspers is now SA's largest company and not just by a little bit.

Africa: U.S. - Africa Business Summit Successful

Maputo — Some top notch executives and leading captains of the business world who attended the just-ended 12th US - Africa Business Summit in Maputo, Mozambique have lauded Botswana for making great strides in its quest to find its footing within the global business space. The summit, hosted by Corporate Council on Africa (CCA) and the government of Mozambique, brought together more than 1 000 US and African private sector executives. Attendants also included international investors as well as… Read more on AllAfrica.com South Africa Today Africa - Southern Africa Botswana News Disclaimer: The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today.

Business Bank of Kigali enters into $20m SME funding deal with French Development Agency

A great number of Rwanda's 72, 000 SMEs are about to literally smile to the bank with the Bank of Kigali Group's $20m funding agreement with French Development Agency (AFD). That is if these SMEs are working in agro-business, ICT, and renewable energy, as the loans are targeted at supporting SDG-specific businesses. Inking the deal in Kigali city, AFD Group CEO Remy Rioux said he had chosen to appear personally at the signing, rather than send a rep. Reaffirming Rwanda's position as a leading economy on the continent, Remy said: "there is no better place to do this than Kigali." This deal is the latest outbound spending in a three-year special investment plan pledged by French president Emmanuel Macron called "Choose Africa," a project that will reportedly have ploughed €2.5 billion into businesses and governments across the continent by 2022. Bank of Kigali has been hitting the mark with these large investment deals.

Life Healthcare bids adieu to India

SA private health group sells its 49.7% stake in Max Healthcare after a disappointing five years in which it made no profit Private hospital group Life Healthcare has concluded the sale of its stake in Indian hospital group Max Healthcare for R3.7bn, marking the final nail in the coffin for the disappointing venture. Analysts on Monday said the acquisition had weighed on earnings and drained Life management's time. Life Healthcare bought a 26% stake in Max Healthcare for R820m in 2011 and later increased its share in the business to 49.7% as part of efforts by then CEO Michael Flemming to branch out of SA, where a weak economy and job losses had led to a slowdown in demand for private health care. The group had hoped to generate a quarter of its revenue from India over a five-year period. But the Indian business proved slow to get off the ground and consistently dragged on profits, said Sasfin equity analyst Alec Abraham. "They bought hospitals that were ready to open, but somehow it never worked out, and the ramp-up took a lot longer than it would have in SA.

Business "NAFDAC's new policy may affect morbidity and mortality" - PSN Chairperson

The Pharmaceutical Society of Nigeria (PSN) has warned Nigerians of a hike in drug price which might take effect in a few weeks. Speaking on the matter, the Chairperson of PSN, Bolanle Adeniran said, "While the industry was grappling with challenges of delays, NAFDAC made the most damaging move in the last couple of weeks by increasing drug and product registration levy by a whopping 350 per cent." Going by the policy, it now costs N1.05 million from N350,000 to register a prescription only medicine. Other regular over-the-counter drugs have moved from N1 million to N4 million in Nigeria.

Man critical after petrol container bursts into flames

At 10H03 Monday morning Netcare 911 responded to reports of burns near a secondary school off the P57 in Izingolweni on the KZN South Coast. Reports from the scene indicate that a 37-year-old male sustained first and second degree burns to large portions of his body when a container of petrol caught alight. The patient required Advanced Life Support intervention to stabilise him.

Business Weekly Economic Index: Oil prices recover slightly amidst USA-Iran tensions

Nearly a month after reports surfaced that Nigeria may be ready to sign the African Continental Free Trade Agreement (AfCFTA), President Muhammadu Buhari has blown the lid off, stating reasons for the country's reluctance to commit to the trade pact. The president, who demanded an impact assessment on the deal and approved the report in May, cited Nigeria's lack of capacity to prevent other African countries from dumping goods into the country. According to him, this would impede the growth of emerging local industries, thus posing a challenge in the continental trade accord. "I don't think Nigeria has the capacity to effectively supervise and to ensure that our colleagues in AU (African Union) don't allow their countries to be used to dump goods on us to the detriment of our young industries and our capacity to utilise foreign exchange for imported goods," President Buhari said, in a (MAN) in Abuja. The African leader's claim is in line with that of the President MAN, Engineer Mansur Ahmed, who had urged the Federal Government not to sign the trade pact to save Nigeria from being used as a dumping ground for foreign goods. "The position of the association is that the government should not sign the framework agreement until wide-reaching sensitization and proper assessment is conducted on its impact on the economy and the manufacturing sector," Ahmed said in January.

Business Air Tanzania to resume flights to South Africa

Air Tanzania will be resuming flights to South Africa on Friday, June 28 in a bid to attract South African tourists and business travellers. The revived passenger schedule will connect four major airports in Tanzania with OR Tambo International Airport in Johannesburg and will operate four direct flights per week on Mondays, Wednesdays, Fridays and Sundays. Starting from July 16, Read more at.

U.S. business borrowing for equipment rises 18% in May - ELFA

June 24 (Reuters) - U.S. companies' borrowing to spend on capital investments rose 18% in May from a year earlier, the Equipment Leasing and Finance Association (ELFA) said. Companies signed up for $9.1 billion in new loans, leases and lines of credit last month, up from $7.7 billion a year earlier. Borrowings rose 3% from the previous month. "The continued low interest rate environment, coupled with solid fundamentals in the U.S.

Jaws of Life used to free men trapped in crumbled car

At 19H34 Monday night Netcare 911 responded to reports of a collision on the P100, Ndwedwe, Durban. Reports from the scene indicate that the driver of a light motor vehicle lost control resulting in a rollover, coming to rest on its side. Paramedics assessed the scene and found that the driver and his passenger, both adult males sustained serious injuries.

The Big Small Business Show - 24 June 2019: Part 1

Brian Carl Brown is 52 and wants to start his own business. The panel offers a mini masterclass on what to keep in mind when you want to make the jump to entrepreneurship..

Funny-man John Vlismas gets dead serious about money

South African comedian John Vlismas. Picture: Vumani Mkhize/EWN I grew up in a home of incredibly hardworking entrepreneurs… We had no money… They built businesses… — John Vlismas I trained as an actor… there was no work… I had to do comedy to survive… It was a commercial decision… — John Vlismas I believe you should have something in property, stocks and art… I only collect local artists… There are only a few fans… they're wealthy and irrational… Art is very volatile, but so is Steinhoff! — John Vlismas Every week The Money Show's Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his weekly " Make Money Mondays, Personal Edition " feature. This week Whitfield interviewed comedian John Vlismas.

CFO shares the Naspers playbook: Another Tencent on the horizon?

In this interview with Naspers CFO Basil Sgourdos, the group has followed a similar playbook for decades: travel widely, expose yourself to global trends and take disciplined bets in promising areas. This article is exclusive to Biznews Premium. Members please login  here.

Funny-man John Vlismas gets dead serious about money

I grew up in a home of incredibly hardworking entrepreneurs… We had no money… They built businesses… I trained as an actor… there was no work… I had to do comedy to survive… It was a commercial decision… I believe you should have something in property, stocks and art… I only collect local artists… There are only a few fans… they're wealthy and irrational… Art is very volatile, but so is Steinhoff! Every week The Money Show's Bruce Whitfield interviews a famous person about her or his attitude to money (hopes and fears, successes and failures, etc.) as part of his weekly "Make Money Mondays, Personal Edition" feature. This week Whitfield interviewed comedian John Vlismas. Vlismas is a former South African Comedy Award winner and was a finalist in the Yuk Yuk's Great Canadian Laugh Off. Listen to the interview in the audio below (and/or scroll down for more quotes from it). I'm taking it to South Africans [in Australia] I'm not fond of… those fugitives from democracy! It all started when I met Pieter-Dirk Uys… Without danger, comedy is rubbish! I like comedians with death threats from Steve Hofmeyr… It's the enemy of stupid… Life is hilarious… the guy carrying the drinks backstage was that guy [bully at school]… I don't remember money being a big topic… He [father] had a fruit juice factory in Durban… he put me to work… When I told them [his parents] what I wanted to do, they didn't bat and eyelid… I think I became an adult when I realised it's not going to go on forever… Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield's The Money Show every Friday morning in your inbox..

UPDATE 1-South African rand slips after strong gains last week

(Updates throughout) JOHANNESBURG, June 24 (Reuters) - South Africa's rand slipped slightly on Monday after strong gains last week, as investors waited for direction from this week's Group of 20 summit. Local stocks and government bonds also weakened. At 1820 GMT the rand ZAR=D3 was around 0.4% weaker than its previous close at 14.3725 per U.S. dollar after gaining more than 3% last week. U.S.-China trade tensions have market participants eyeing the leaders of the world's two largest economies and their expected meeting at the upcoming G20 summit in Japan on Friday. the absence of market-moving data releases, the rand tends to take its cue from global market developments. China is South Africa's largest trading partner, so any impact on its economy from the trade tensions affects sentiment towards local assets. The Johannesburg Stock Exchange's benchmark Top-40 Index .JTOPI dipped 0.27% to 52,761 points, while the broader All-Share Index .JALSH closed 0.31% lower at 58,756 points. Among the biggest fallers on the blue-chip index, Sappi SAPJ.J fell 4.55% to 55.56 rand and Aspen Pharmacare APNJ.J fell 3.32% to 101.00 rand. Curbing further losses were bullion stocks, which gained on the back of a higher spot gold price, with AngloGold Ashanti ANGJ.J up 3.54% to 250.55 rand and Gold Fields GFIJ.J 2.30% higher at 78.86 rand.

Pompeo discusses ensuring stability of energy markets with Saudi king and crown prince

RIYADH, June 24 (Reuters) - U.S. Secretary of State Mike Pompeo held discussions on Monday with Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman on ensuring stability in energy markets and freedom of navigation, Saudi Arabia's ambassador designate to Washington said. "Productive discussions ...

South African rand slips after strong gains last week

GFIELDS:   7,886     +177 (+2.30%)   24/06/2019 00:00 (Updates throughout) JOHANNESBURG, June 24 (Reuters) - South Africa's rand slipped slightly on Monday after strong gains last week, as investors waited for direction from this week's Group of 20 summit. Local stocks and government bonds also weakened. At 1820 GMT the rand was around 0.4% weaker than its previous close at 14.3725 per U.S. dollar after gaining more than 3% last week. U.S.-China trade tensions have market participants eyeing the leaders of the world's two largest economies and their expected meeting at the upcoming G20 summit in Japan on Friday. In the absence of market-moving data releases, the rand tends to take its cue from global market developments. China is South Africa's largest trading partner, so any impact on its economy from the trade tensions affects sentiment towards local assets. The Johannesburg Stock Exchange's benchmark Top-40 Index dipped 0.27% to 52,761 points, while the broader All-Share Index closed 0.31% lower at 58,756 points. Among the biggest fallers on the blue-chip index, Sappi fell 4.55% to 55.56 rand and Aspen Pharmacare fell 3.32% to 101.00 rand. Curbing further losses were bullion stocks, which gained on the back of a higher spot gold price, with AngloGold Ashanti up 3.54% to 250.55 rand and Gold Fields 2.30% higher at 78.86 rand. The yield on the benchmark government bond due in 2026 rose 5 basis points to 8.17%, reflecting weaker prices. (Reporting by Tanisha Heiberg and Alexander Winning; Editing by Alison Williams) 2019-06-24 20.

55 most remunerative business ideas for women

Over the years, women have shown very great potential in entrepreneurship. They have established and taken their positions in the business world. Every single day is an opportunity for them to come up with something new and unique.

Equatorial Guinea and Major Oil and Gas Companies Sign Definitive Agreements for Monetization of Gas from the Alen Unit

Establishes the First Gas Hub of the Envisioned EG Gas Mega Hub; Sonagas increases stake at EGLNG Plant The Ministry of Mines and Hydrocarbons on behalf of the Government of the Republic of Equatorial Guinea executed the Definitive Agreements with the Alen Unit and respective Punta Europa Plant owners to monetize gas from the Alen Unit, located in Blocks O and I offshore Equatorial Guinea (EG) and operated by Noble Energy EG Ltd. The definitive agreements commit for tolling Alen Unit gas through Alba Plant LLC's liquefied petroleum gas (LPG) processing plant and EG LNG's liquefied natural gas (LNG) production facility, both located in Punta Europa.  Marathon Oil is the majority shareholder in both Alba Plant LLC and EG LNG. This agreement will see Sonagas GE, the National Gas Company of Equatorial Guinea stake increased from 25% to 30% Existing production and processing facilities are already in place at the Alen Platform and in Punta Europa.  The Alen offshore platform will undergo minor modifications to export gas while primary condensate will continue to be produced and lifted offshore via the Aseng FPSO.  The Alen Unit joint venture will install and operate a 70-kilometer pipeline to transport gas from the Alen Platform to Punta Europa, where it will be processed and transported for sales on the global market.  The pipeline will be capable of transporting approximately 950 MMscfd of gas.  First gas is expected in 1Q 2021.  The Alen Unit gas monetization project will leverage the capacity of the world class Punta Europa facilities.  Modifications are already underway at Alba Plant in order to receive Alen Unit gas. No process modifications are expected at EG LNG in order to process Alen Unit gas.

Two suspects nabbed for business burglary

Media Statement                     South African Police Service                         Office of the Provisional Commissioner Gauteng Police arrested two male suspects aged 19-years-old both for Possession of Unlicensed firearm, Possession of Unlicensed ammunition and Burglary Business at Mendez Farm north of Heidelberg town early hours yesterday. Police received information of the business burglary and theft of cash and a firearm. Quick response by an off-duty Police and his wife (Police Reservist) placed themselves on duty, with assistance of other officers' lead to the arrested of the two suspects in Ratanda Location.

Life Healthcare bids adieu to India

SA private health group sells its 49.7% stake in Max Healthcare after a disappointing five years in which it made no profit.

NTVUganda has added Tax policy forcing us out of business - Entrepreneurs cry out video

Tax policy forcing us out of business - Entrepreneurs cry out The deepening of tax administration as a measure to collect more taxes is leaving some tax payers bruised some out of businesses. This is what emerged from a tax forum between the tax man and the tax payers with the tax payers calling for sensitivity and regard while the tax administration bites harder. #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.

Stock Picks — Richemont and Anglo American

Nick Kunze from Sanlam Private Wealth chose Richemont as his stock pick of the day and Joseph Busha from JM Busha Investments chose Anglo American.

Bet9ja complements government effort towards job creation

In line with the federal government's goal to engage Nigeria's burgeoning youth population and alleviate poverty through generation of employment, Bet9ja, Nigeria's preferred sports betting firm, is complementing the government's efforts in creating jobs for young people through its operations across the country. Speaking to newsmen recently, Ayo Ojuroye, the Managing Director and Co-Founder, Bet9ja, revealed that with its foothold across Nigeria, the firm currently employs over 40,000 Nigerians directly and indirectly. According to Ojuroye, " Bet9ja is MORE THAN A BET.

EOH encourages whistleblowers with new app

The IT group continues its push to clean its image after governance issues and alleged tender irregularities Embattled technology provider EOH has launched a whistleblowing platform called EXPOSEit App as it continues its push to clean its image. The app provides a "secure, completely anonymous and confidential platform to employees who may be victims of, or bear witness to, wrongdoings of any kind within their organisation", the company said. Once the best-performing JSE-listed technology group, EOH has come under fire recently over governance issues and alleged tender irregularities. Company CEO Stephen van Coller has led a probe into its past contracts with the state since he took over in September 2018.

Financials weigh on JSE

The JSE opened the week on the backfoot on Monday as it closed weaker mainly on the back of losses recorded in the financials index. Counters on the financials index retreated mainly on the back of a milder rand, while weaker sentiment from Asia and other global markets also failed to lift the other segments on the local bourse. Stocks in Asia closed marginally firmer with gains of 0.19% being recorded for the Shanghai Composite Index while the Hang Seng added 0.14%.

REDEFINE PROPERTIES LIMITED - Interest rate reset: RDFB19

Wrap Text Interest rate reset: RDFB19 REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration no: 1999/018591/06) Company code: BIRDF ISIN : ZAG000157967 (Approved as a REIT by the JSE) INTEREST RATE RESET: RDFB19 Notice is hereby given that the 3 month JIBAR rate as at 24 June 2019 is 7.033% p.a. ("JIBAR"). Accordingly, the next interest payment, payable on 23 September 2019 (*Following), for the period 24 June 2019 to 22 September 2019, will be calculated based on a rate of 8.343% p.a. (131 bps over JIBAR). * 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. Next reset date: 23 September 2019. 24 June 2019 Debt sponsor Java Capital Date: 24/06/2019 05:08:00 Produced by the JSE SENS Department.

Cautionary tale of tax incentives for cigarette makers from Zambia

Tobacco companies are zeroing in on one of the last global markets still ripe for exploitation: the African continent . Much of the tobacco leaf and some of the manufactured cigarettes produced on the continent are exported. These exports earn the foreign currency that's attractive to the finance ministries of tobacco producing countries .

NEWFUNDS COLLECTIVE INVEST SCHEME - Change To Index Constituents Effective 24 June 2019 (NEWFSA)

Wrap Text Change To Index Constituents Effective 24 June 2019 (NEWFSA) NEWFUNDS (RF) NEWSA EXCHANGE TRADED FUND PORTFOLIO Share code: NEWFSA ISIN: ZAE000104055 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) CHANGE TO INDEX CONSTITUENTS EFFECTIVE 24 JUNE 2019 In terms of section 19.28 of the JSE Limited Listings Requirements (JSE LRs), notice is hereby given to investors of the above ETF securities that the ETF portfolio was rebalanced on 21 June 2019 and that the following changes in the constituents of the underlying index/ices in the table below were effective on 24 June 2019. Constituent(s) added to index Constituent(s) removed from index NEWFSA - EXXARO RESOURCES LIMITED (EXX) - NETCARE LIMITED (NTC) - OCEANA GROUP LIMITED (OCE) - TRUWORTHS INTERNATIONAL LIMITED (TRU) Investors are advised that the above index is rebalanced on a quarterly basis and the composition of each of the portfolios may be viewed via the Absa Capital ETF website (http://etfcib.absa.co.za). 24 June 2019 Sponsor Vumani Corporate Finance Date: 24/06/2019 05:20:00 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.

BRIEF-Resilient REIT Says All Resolutions Passed At General Meeting

June 24 (Reuters) - Resilient REIT Ltd RESJ.J :* RESULTS OF GENERAL MEETING AND IMPLEMENTATION OF SHARE SALE * ALL RESOLUTIONS TABLED WERE PASSED BY REQUISITE MAJORITY OF SHAREHOLDERS * ALL CONDITIONS PRECEDENT TO SHARE SALE HAVE NOW BEEN FULFILLED AND RESILIENT IS IN PROCESS OF IMPLEMENTING SHARE SALE.

5 Tips to keep your business going during off-peak season

Gugu Mjadu, Marketing Executive at Business Partners Limited Share this with your network Many business-to-consumer enterprises routinely experience a seasonal slowdown, which can cripple the business when this is not factored in planning for the business' cash flows. It is critical for these businesses to prepare for depressed sales numbers as a result of seasonal shifts, weather and other economic factors - like ice cream stores in winter or inner-city restaurants during holiday season when consumers tend to make for more exotic destinations. Yet, anticipating a slowdown and actually experiencing one are two wholly different things.

RESILIENT REIT LIMITED - Results of general meeting and implementation of share sale

RES RES40 RES36 RES34 RES35 RES41 RES38 201906240049A Results of general meeting and implementation of share sale RESILIENT REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/016851/06) JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF (Approved as a REIT by the JSE) (‘Resilient') RESULTS OF GENERAL MEETING AND IMPLEMENTATION OF SHARE SALE Shareholders are referred to the announcements released on SENS (the last of which was on 20 May 2019) regarding the proposed specific repurchase by Resilient, in part directly and in part via its subsidiary, Resilient Properties Proprietary Limited (‘Resilient Properties'), of 52 182 504 Resilient shares and the purchase of 7 474 707 Fortress B shares (collectively, the ‘Share Sale') held by The Resilient Empowerment Trust in full settlement of the loans advanced by the Resilient group to The Resilient Empowerment Trust. Shareholders are advised that at the general meeting of shareholders held on 24 June 2019 (in terms of the notice of general meeting dispatched to shareholders on 20 May 2019) (the ‘general meeting'), all the resolutions tabled thereat were passed by the requisite majority of shareholders. All conditions precedent to the Share Sale have now been fulfilled and Resilient is in the process of implementing the Share Sale. Details of voting Details of the results of voting at the general meeting are as follows: - total number of Resilient shares in issue as at the date of the general meeting: 415 244 010 (excluding 9 709 990 treasury shares) - total number of Resilient shares held by The Resilient Empowerment Trust not eligible to vote: 52 182 504 - total number of Resilient shares that were present/represented at the general meeting: 297 140 556, being 81.8430% of the total number of Resilient shares that could have been voted at the general meeting. Special Resolution Number 1: Approval of the Share Sale in terms of the JSE Listings Requirements Shares voted* For Against Abstention

PIC's inquiry raising questions about "super-helpers" getting "super-fees"

There is much embarrassing material emerging from the Commission of Inquiry into the PIC , not least opening the eyes of South Africans to sky-high fees paid to financial intermediaries. Whether their fees relate well to the value added is has long been a matter of great debate - indeed a few years back Warren Buffett dedicated a couple of pages in his annual shareholder letter castigating the role of these "super helpers". Veteran investment analyst Ryk de Klerk has spent some fruitful hours examining testimony given to the PIC Inquiry .

Germany's business confidence hits five-year low

Ifo economist says the trade conflict between the US and China is the main source of uncertainty for German businesses Berlin — German business morale fell to its lowest level since November 2014 in June, a survey showed on Monday, adding weight to expectations that Europe's largest economy contracted in the second quarter. The Ifo institute said its business climate index deteriorated for the third month in a row, to 97.4 in June from 97.9 in May. That was slightly above a consensus forecast for 97.2. "The German economy is heading for the doldrums," Ifo president Clemens Fuest said, adding that the business climate in the manufacturing and services sectors had worsened. After nine successive years of growth, the German economy is struggling as trade disputes and a cooling world economy hurt its export-dependent manufacturers and as Britain's delayed exit from the EU creates uncertainties. The Bundesbank said earlier in June it expects the economy to contract slightly in the second quarter after an expansion of 0.4% between January and March. The government has halved its 2019 growth forecast to 0.5% after an expansion of 1.5% in 2018, the weakest rate in five years. US-China trade conflict Ifo economist Klaus Wohlrabe said the trade conflict between the US and China — the world's two largest economies — was the main source of uncertainty for German businesses. He said he did not expect a recession, a view also held by analysts. "All told, we expect the German economy to slow to little more than a crawl in the second quarter," Christina Iacovides of Capital Economics wrote in a note. An index measuring managers' assessment of their current situation rose slightly while another gauging expectation fell to its lowest level since February. That suggested the slump in the headline reading to levels not seen since the eurozone debt crisis was driven by concerns that trade conflicts between the US and both China and the EU could worsen and further dampen exports. "Fear of losing.

NEWFUNDS COLLECTIVE INVEST SCHEME - Change To Index Constituents Effective 24 June 2019 (NFSH40)

NFSH40 201906240058A Change To Index Constituents Effective 24 June 2019 (NFSH40) NEWFUNDS (RF) SHARIAH EXCHANGE TRADED FUND PORTFOLIO Share code: NFSH40 ISIN: ZAE000130431 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) CHANGE TO INDEX CONSTITUENTS EFFECTIVE 24 JUNE 2019 In terms of section 19.28 of the JSE Limited Listings Requirements (JSE LRs), notice is hereby given to investors of the above ETF securities that the ETF portfolio was rebalanced on 21 June 2019 and that the following changes in the constituents of the underlying index in the table below will be effective on 24 June 2019. Constituent(s) added to index Constituent(s) removed from index NFSH40 - EXXARO RESOURCES LIMITED (EXX) - NETCARE LIMITED (NTC) - TIGER BRANDS LIMITED (TBS) Investors are advised that the above index is rebalanced on a quarterly basis and the composition of each of the portfolios may be viewed via the Absa Capital ETF website (http://etfcib.absa.co.za). 24 June 2019 Sponsor Vunani Corporate Services Date: 24/06/2019 05:24:00 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..

WP Rugby's money woes set to cripple the union

Cape Town - WP Rugby is seemingly in major financial strife, with the union reportedly only able to pay its employees one more month's salary . Afrikaans newspaper Rapport reported on Sunday that an internal power struggle between the amateur and professional arms and a lack of funds threaten to bring the union to its knees. The Cape union expects to make a loss of R30 million for the current financial year and still needs to pay back a loan of R43 million from Remgro who bailed them out a couple of years ago.

Dog school for underprivileged gets helpful donation to feed learning dogs

Funda Nenja, a dog training school in the township of Mpophomeni, just got the best donation to help them feed all the happy dogs.   Mpophomeni, KwaZulu-Natal - Funda Nenja runs in the township of Mpophomeni, near Howick, in the KZN Midlands of South Africa. On average, 100 children and their dogs attend weekly dog training sessions which happen on Friday afternoons at Zamethule Primary School in the township.

Saica deregisters former Gupta KPMG auditor

Jacques Wessels can reapply for Saica membership in five years at the discretion of the board The accounting profession watchdog has deregistered the former KPMG auditor responsible for accounts linked to the controversial Gupta family, leaving him with limited prospects of reviving his career. Jacques Wessels, who was responsible for auditing the financial statements of Gupta-owned Linkway Trading, has been barred from using the CA (SA) designation after the cancellation of his membership, the SA Institute of Chartered Accountants (Saica) said on Monday. Wessels previously admitted to being negligent during the audit, passing off costs for the family's lavish Sun City wedding as a business expense. Being stripped of his Saica membership means Wessels, who previously said he would consider starting his own accounting practice if he was barred from practising as an auditor, now has limited chances to succeed at this as well. In April, he was struck off the Independent Regulatory Board for Auditors (Irba) register, dashing his prospects of returning to work as an auditor after his suspension from KPMG in 2017. Wessels can reapply for Saica membership in five years at the discretion of the Saica board.

"John Hulett: Tongaat's deception of my family began decades ago" - BizNews

And four other of the top stories on Alec Hogg's business news website, 24 June 2019 JOHANNESBURG - The five best-read stories on Alec Hogg's BizNews.com Monday 24 June 2019 1.  John Hulett: Tongaat's deception of my family began decades ago 2.  Zimbabwe's economy spirals on downward - Cathy Buckle 3.  Mandy Collins: On the cusp of turning 50, I'm celebrating the silver linings of a whole new age of possibility 4.  Naspers delays Euronext listing after postage blunder   5.  Zim wants (another) new currency, get back into IMF's good books BizNews.com is one of South Africa's leading business news websites. Founded by internet publishing pioneer and broadcaster Alec Hogg, it specialises in providing news and expert opinion on money and investments. BizNews.com is a remote company and all employees can be found on email, it's their first name @biznews.com eg.

NEWFUNDS COLLECTIVE INVEST SCHEME - Change To Index Constituents Effective 24 June 2019 (NEWFSA)

NEWFSA 201906240057A Change To Index Constituents Effective 24 June 2019 (NEWFSA) NEWFUNDS (RF) NEWSA EXCHANGE TRADED FUND PORTFOLIO Share code: NEWFSA ISIN: ZAE000104055 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) CHANGE TO INDEX CONSTITUENTS EFFECTIVE 24 JUNE 2019 In terms of section 19.28 of the JSE Limited Listings Requirements (JSE LRs), notice is hereby given to investors of the above ETF securities that the ETF portfolio was rebalanced on 21 June 2019 and that the following changes in the constituents of the underlying index/ices in the table below were effective on 24 June 2019. Constituent(s) added to index Constituent(s) removed from index NEWFSA - EXXARO RESOURCES LIMITED (EXX) - NETCARE LIMITED (NTC) - OCEANA GROUP LIMITED (OCE) - TRUWORTHS INTERNATIONAL LIMITED (TRU) Investors are advised that the above index is rebalanced on a quarterly basis and the composition of each of the portfolios may be viewed via the Absa Capital ETF website (http://etfcib.absa.co.za). 24 June 2019 Sponsor Vumani Corporate Finance Date: 24/06/2019 05:20:00 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..

RESILIENT REIT LIMITED - Results of general meeting and implementation of share sale

Wrap Text Results of general meeting and implementation of share sale RESILIENT REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/016851/06) JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF (Approved as a REIT by the JSE) ("Resilient") RESULTS OF GENERAL MEETING AND IMPLEMENTATION OF SHARE SALE Shareholders are referred to the announcements released on SENS (the last of which was on 20 May 2019) regarding the proposed specific repurchase by Resilient, in part directly and in part via its subsidiary, Resilient Properties Proprietary Limited ("Resilient Properties"), of 52 182 504 Resilient shares and the purchase of 7 474 707 Fortress B shares (collectively, the "Share Sale") held by The Resilient Empowerment Trust in full settlement of the loans advanced by the Resilient group to The Resilient Empowerment Trust. Shareholders are advised that at the general meeting of shareholders held on 24 June 2019 (in terms of the notice of general meeting dispatched to shareholders on 20 May 2019) (the "general meeting"), all the resolutions tabled thereat were passed by the requisite majority of shareholders. All conditions precedent to the Share Sale have now been fulfilled and Resilient is in the process of implementing the Share Sale. Details of voting Details of the results of voting at the general meeting are as follows: - total number of Resilient shares in issue as at the date of the general meeting: 415 244 010 (excluding 9 709 990 treasury shares) - total number of Resilient shares held by The Resilient Empowerment Trust not eligible to vote: 52 182 504 - total number of Resilient shares that were present/represented at the general meeting: 297 140 556, being 81.8430% of the total number of Resilient shares that could have been voted at the general meeting. Special Resolution Number 1: Approval of the Share Sale in terms of the JSE Listings Requirements Shares voted* For A

GLOBAL MARKETS-Stocks mostly flat ahead of G20; dollar slips

(Adds U.S. market open, byline, dateline; previous LONDON) * Europe stocks slip on weak German business sentiment * Dollar index slips to three-month low * Gold flirts with Fridays' six-year highBy Herbert Lash NEW YORK, June 24 (Reuters) - Global equity markets traded mostly flat on Monday as investors awaited U.S.-China trade talks this week at the G20 summit, and the dollar fell to three-month lows on bets the Federal Reserve may cut interest rates more than once this year. European stocks stumbled on fears of an escalation in Iran tensions, which also kept gold prices near a six-year high. Shares in China edged higher on hopes of a thaw in the Sino-U.S.

C&P Invicta shuts dividend taps after huge tax settlement

The industrial holding company's debt-to-equity ratio has spiralled after a R750m tax settlement A R750m tax settlement has prompted Invicta, the industrial holding company chaired by Christo Wiese, to put dividends on hold until cash flows improve. The suspension is yet another blow for Wiese, who is also a shareholder in Invicta and is seriously out of pocket. His biggest investment was wiped off with the implosion of Steinhoff while his investment house, Brait, is struggling to make money out of its UK clothing business, New Look.

General SENS Submitter Company - Informative Notice 20190624 Naspers Capitalisation Issue Update

Wrap Text Informative Notice - 20190624 Naspers Capitalisation Issue Update Naspers (South Africa): Capitalisation Issue Informative Notice - Update (FTSE/JSE Africa Index Series) 24 June 2019 Further to the FTSE/JSE notice released on 13 June 2019, FTSE/JSE notes that the indicative dates associated with the transaction have been extended, noting that the indicative effective date and listing date of the NewCo (now expected to be named "Prosus") is now expected to occur in September 2019. FTSE/JSE will continue to monitor for an updated timetable and subsequently publish an updated notice soon thereafter. For further information please contact FTSE Russell Client Services at info@ftserussell.com or call: Australia +1800 653 680 Hong Kong +852 2164 3333 Japan +81 3 4563 6346 London +44 (0) 20 7866 1810 New York +1866 551 0617 JSE Limited +27 11 520 7000 Alternatively please visit our website at www.ftserussell.com Terms of Use | Copyright © 2019 FTSE Russell Date: 24/06/2019 05:40:00 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.

Cautionary tale of tax incentives for cigarette makers from Zambia

Zambia's daliance with cigarette manufacturing is a cautionary tale for other African countries ShutterstockTobacco companies are zeroing in on one of the last global markets still ripe for exploitation: the African continent. Much of the tobacco leaf and some of the manufactured cigarettes produced on the continent are exported. These exports earn the foreign currency that's attractive to the finance ministries of tobacco producing countries. But increasing amounts of the continent's tobacco outputs remain in Africa, with tobacco companies taking advantage of countries with weak tobacco control measures and comparatively low consumption rates that they consider ripe for expansion. While tobacco production is decreasing (slightly) in most of the rest of the world, it is increasing in Africa.

TSOGO SUN HOLDINGS LIMITED - Results of General Meeting

TSH 201906240045A Results of General Meeting Tsogo Sun Holdings Limited (Incorporated in South Africa) Registration number: 1989/002108/06 Share code: TSH ISIN: ZAE000156238 (‘Tsogo Sun' or ‘the Company') Results of General Meeting Reference is made to the circular distributed to shareholders of Tsogo Sun (‘Shareholders') on 23 May 2019 (‘the Circular') and the Company's notice to convene the General Meeting held today, Monday, 24 June 2019 (‘the General Meeting') at which Shareholders were requested to consider and if deemed fit, pass the ordinary and special resolutions set out in the notice of the General Meeting. Capitalised terms used in this announcement bear the same meaning as the capitalised and defined terms used in the Circular. The total number of shares voted in person or by proxy at the General Meeting including abstentions was 963 301 920, representing 90.80% of Tsogo Sun's issued share capital as at Friday, 17 May 2019, being the Voting Record Date. The voting results were as follows: SHARES TOTAL SHARES VOTED ABSTAINED FOR AGAINST NUMBER %* %* RESOLUTION (%) (%) Special resolution 1 Approval of the name change to ‘Tsogo Sun 100.00% 0.00% 963,284,396 90.80% 0.00% Gaming Limited' Special resolution 2 Approval of the changes to the MOI 99.84% 0.16% 963,284,396 90.80% 0.00% consequent upon the name change Special resolution 3 Approval of certain non-material corrections 99.30% 0.70% 963,284,310 90.80% 0.00% and amendments to the MOI Ordinary resolution Directors' and Secretaries' authority to take all 100.00% 0.00% 963,284,310 90.80% 0.00% such actions necessary to implement the resolutions *Expressed as a percentage of 1 060 895 712 Tsogo Sun ordinary shares in issue as at the Voting Record Date The remaining salient dates and times in relation to the amendments to the MOI and the Change of Name are as follows: 2019 Change of Name special resolution lodged with CIPC for registration, on Wednesday, 26 June Expected date of CIPC registration of Change of Name specia

GLOBAL MARKETS-Stocks mostly flat ahead of G20; dollar slips

(Adds U.S. market open, byline, dateline; previous LONDON) * Europe stocks slip on weak German business sentiment * Dollar index slips to three-month low * Gold flirts with Fridays' six-year high By Herbert Lash NEW YORK, June 24 (Reuters) - Global equity markets traded mostly flat on Monday as investors awaited U.S.-China trade talks this week at the G20 summit, and the dollar fell to three-month lows on bets the Federal Reserve may cut interest rates more than once this year. European stocks stumbled on fears of an escalation in Iran tensions, which also kept gold prices near a six-year high.

Ballito Pro Family Food Festival

An unmissable feast of fun planned for this year's This year The Ballito Pro presented by O'Neill will be adding some serious flavour to the festival programme with the delicious Ballito Pro Family Food Festival on Monday, 1 and Tuesday, 2 July from 3 pm to 9 pm. This two-day escapade of food, adventure and entertainment, presented by Ballito Junction Regional Mall, forms part of the expansive festival programme - all free of charge - running alongside the global surfing contest, taking place at KwaDukuza from 27 June to 7 July. "We have put together a really incredibly delicious foodie event that will include celebrity cook-offs, crafts, entertainment and pop-up restaurants - all with a strong focus on family fun and environmental sustainability," said Lewaine Von Allemann, organiser of the Ballito Pro Family Food Festival.

NEWFUNDS COLLECTIVE INVEST SCHEME - Change To Index Constituents Effective 24 June 2019 (NFSH40)

Wrap Text Change To Index Constituents Effective 24 June 2019 (NFSH40) NEWFUNDS (RF) SHARIAH EXCHANGE TRADED FUND PORTFOLIO Share code: NFSH40 ISIN: ZAE000130431 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) CHANGE TO INDEX CONSTITUENTS EFFECTIVE 24 JUNE 2019 In terms of section 19.28 of the JSE Limited Listings Requirements (JSE LRs), notice is hereby given to investors of the above ETF securities that the ETF portfolio was rebalanced on 21 June 2019 and that the following changes in the constituents of the underlying index in the table below will be effective on 24 June 2019. Constituent(s) added to index Constituent(s) removed from index NFSH40 - EXXARO RESOURCES LIMITED (EXX) - NETCARE LIMITED (NTC) - TIGER BRANDS LIMITED (TBS) Investors are advised that the above index is rebalanced on a quarterly basis and the composition of each of the portfolios may be viewed via the Absa Capital ETF website (http://etfcib.absa.co.za). 24 June 2019 Sponsor Vunani Corporate Services Date: 24/06/2019 05:24:00 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.

Pleasing Orion bankable points to fast project payback

JOHANNESBURG (miningweekly.com) - Zinc and copper exploration and development company Orion Minerals pleasantly surprised the market on Monday when it announced a bankable feasibility study (BFS) that paves the way for financing, concentrate offtake and mine construction of the Prieska project in the Northern Cape. The BFS calculates payback at 2.9 years from the start of production from the underground mine.   "We're delighted with the results," said Orion CEO Errol Smart of the Prieska project BFS, which shows an all-in-sustaining margin of 44% over the first ten years, as well as exceptional opportunities for future growth.

Naspers says delay in listing Prosus 'unfortunate'

Naspers has described the delay in the planned listing of its international internet assets on the Euronext Amsterdam stock exchange as "unfortunate", after an external provider sent out envelopes to shareholders with incorrect information. Naspers had scheduled the Prosus listing for July 17. It now plans to list in September, following a shareholders meeting in mid-August.

REDEFINE PROPERTIES LIMITED - Interest rate reset: RDFB20

RDFB20 201906240053A Interest rate reset: RDFB20 REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration no: 1999/018591/06) Company code: BIRDF ISIN : ZAG000157975 (Approved as a REIT by the JSE) INTEREST RATE RESET: RDFB20 Notice is hereby given that the 3 month JIBAR rate as at 24 June 2019 is 7.033% p.a. (‘JIBAR'). Accordingly, the next interest payment, payable on 23 September 2019 (*Following), for the period 24 June 2019 to 22 September 2019, will be calculated based on a rate of 8.583% p.a. (155 bps over JIBAR). * 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. Next reset date: 23 September 2019. 24 June 2019 Debt sponsor Java Capital Date: 24/06/2019 05:08:00 Produced by the JSE SENS Department.

WeWork opens second South African location in Cape Town

Global space, community and services company WeWork has established an office in Cape Town, the second city in South Africa where it is launching a presence. WeWork will take up four floors in the city's eleven-floor 80 Strand street property, which is co-owned by Emira Property Fund and Swish Property Group. "Since announcing our expansion to South Africa, we have seen great interest from companies of all sizes, including JSE-listed Naspers, [which] will be moving into our first location in Johannesburg later this year," said WeWork Europe, Middle East and Africa real estate head Patrick Nelson .

Rianke Partners With Bobcat, SANY to Service Anglo in Mpumalanga

A successful partnership with Bobcat Equipment South Africa and Goscor Earth Moving (GEM) has seen Rianke t/a Botshabelo secure a maintenance contract with Anglo American for its Bobcat and SANY fleet at its various mining operations in the Mpumalanga Coal Belt. Established in 2009 in eMalahleni, and starting out in corporate gifts and personal protective equipment before branching out into maintenance work, founders Jarryd Abdinor and Bisco Mohlala saw an opportunity to secure the Anglo American contract due to its experience with the Bobcat and SANY brands to date. In addition, Rianke has just moved into brand-new premises in eMalahleni itself, including workshop and maintenance facilities.

Business Insurance essential to protect medical practitioners' business operations

Christiaan Steyn, Head of Business Insurance at MiWay Insurance With winter upon us, there is an ever-increasing possibility that the electricity grid will come under more pressure that might lead to another round of power cuts. We are all aware of the inconvenience this causes, but for medical practitioners, this can often be far more damaging than simply not having lights in the reception area. Any disruption to a business's operations will hurt its sustainability.

General SENS Submitter Company - Informative Notice 20190624 Naspers Capitalisation Issue Update

GSSC 201906240060A Informative Notice - 20190624 Naspers Capitalisation Issue Update Naspers (South Africa): Capitalisation Issue Informative Notice - Update (FTSE/JSE Africa Index Series) 24 June 2019 Further to the FTSE/JSE notice released on 13 June 2019, FTSE/JSE notes that the indicative dates associated with the transaction have been extended, noting that the indicative effective date and listing date of the NewCo (now expected to be named ‘Prosus') is now expected to occur in September 2019. FTSE/JSE will continue to monitor for an updated timetable and subsequently publish an updated notice soon thereafter. For further information please contact FTSE Russell Client Services at info@ftserussell.com or call: Australia +1800 653 680 Hong Kong +852 2164 3333 Japan +81 3 4563 6346 London +44 (0) 20 7866 1810 New York +1866 551 0617 JSE Limited +27 11 520 7000 Alternatively please visit our website at www.ftserussell.com Terms of Use | Copyright © 2019 FTSE Russell Date: 24/06/2019 05:40:00 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..

RCL FOODS LIMITED - Appointment of alternate director

RCL 201906240048A Appointment of alternate director RCL FOODS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1966/004972/06) ISIN: ZAE000179438 Share Code: RCL (‘the Company') APPOINTMENT OF ALTERNATE DIRECTOR In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised that Mr Paul Johannes Neethling has been appointed as an alternate director to Mr Jan Jonathan Durand, a non-executive director, with effect from 21 June 2019. The appointment as an alternate director is in respect of both Mr Durand's position as a non-executive member of the board, and Mr Durand's position as a member of the Remuneration and Nominations Committee. Mr Neethling is an Investment Executive in the Corporate Finance Division at Remgro Management Services, a wholly-owned subsidiary of Remgro Limited. He holds a BCom (Hons) degree in Financial and Investment Management from the University of Stellenbosch, and has acquired extensive business experience through a number of other directorships. The board welcomes Mr Neethling, and looks forward to his contribution to the Company. Durban 24 June 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/06/2019 04:30:00 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.

APO AFRICA African Development Bank hosts masterclass on women's skills in business development

Download logo The fourth Affirmative Finance Action for Women in Africa (AFAWA)/Entreprenarium masterclass began Monday in Pretoria, South Africa, aimed at improving women's skills in business development and financial management. 40 business women, who came through an online application process, will attend the two-day masterclass, which will cover financial planning, lean start-up methodology and business model canvassing. A mentoring and coaching session will help participants to broaden their skills. The masterclasses are jointly conducted by the African Development Bank Group (www.AfDB.org) and Entreprenarium, a pan-African foundation that invests philanthropic capital in the training and financing of women and young entrepreneurs. Speaking at the opening, African Development Bank Regional Director General, Kapil Kapoor, queried development agendas that discriminate 50% of the population on regulation, skills development, access to information.

Business Egypt and Siemens agree on Smart Economic Zones deal

The Egyptian government will partner with Siemens, Europe's largest industrial manufacturing company, continuing its aggressive drive to make local industries competitive. As part of the deal, Siemens will set up specialized industrial zones matching the available resources in that location. The project will also connect these industrial establishments with local job markets, use best-practice technologies to improve problem-solving as well as reduce dependence on human intervention. Noting the project's urgent necessity, Hisham Kamal, chairman of the Industrial Organization of New Cairo said, "The situation of Egyptian industry has become complicated because of the deterioration of services in industrial zones, which runs counter to investment trends in infrastructure.

NEDBANK GROUP LIMITED - Interest payment notifications - NEDI

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RCL FOODS LIMITED - Appointment of alternate director

Wrap Text Appointment of alternate director RCL FOODS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1966/004972/06) ISIN: ZAE000179438 Share Code: RCL ("the Company") APPOINTMENT OF ALTERNATE DIRECTOR In compliance with paragraph 3.59 of the JSE Limited Listings Requirements, shareholders are advised that Mr Paul Johannes Neethling has been appointed as an alternate director to Mr Jan Jonathan Durand, a non-executive director, with effect from 21 June 2019. The appointment as an alternate director is in respect of both Mr Durand's position as a non-executive member of the board, and Mr Durand's position as a member of the Remuneration and Nominations Committee. Mr Neethling is an Investment Executive in the Corporate Finance Division at Remgro Management Services, a wholly-owned subsidiary of Remgro Limited. He holds a BCom (Hons) degree in Financial and Investment Management from the University of Stellenbosch, and has acquired extensive business experience through a number of other directorships. The board welcomes Mr Neethling, and looks forward to his contribution to the Company. Durban 24 June 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/06/2019 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

WeWork doubles up in SA - also launching in Cape Town

WeWork, the global space, community and services company with over 466,000 members, is today announcing its expansion to Cape Town - the second city for WeWork to open in South Africa ; where it will welcome over 590 members. In Cape Town, WeWork will be take four floors of the eleven floors at 80 Strand on a long lease agreement that includes the option to take up more space in future. It is set to open in Q4 this year.

BRIEF-Tsogo Sun Holdings Announces Results Of Accelerated Bookbuild

June 24 (Reuters) - Tsogo Sun Holdings Ltd TSHJ.J : * RESULTS OF ACCELERATED BOOKBUILD * PLACING PRICED ON 24 JUNE, 29.6 MILLION TSOGO SUN HOTELS ORDINARY SHARES WERE PLACED WITH INSTITUTIONAL INVESTORS AT PRICE OF R4.05 PER SHARE * PLACING PRICE REPRESENTS A DISCOUNT OF 4.5% TO CLOSING PRICE OF TSOGO SUN HOTELS ORDINARY SHARES ON 21 JUNE.

OCEANA GROUP LIMITED - Dealings in securities

Wrap Text Dealings in securities Oceana Group Limited Incorporated in the Republic of South Africa (Registration number 1939/001730/06) JSE Share: OCE NSX Share Code: OCG ISIN Number: ZAE000025284 ("Oceana") OCEANA GROUP LIMITED 2013 SHARE PLAN: DEALING IN SECURITIES In accordance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE Limited ("the JSE"), shareholders are advised that the following director has been awarded and accepted Performance Vesting Share Appreciation Rights ("SARs"), Performance Vesting Shares ("PVS") and Restricted Shares ("RS") in terms of the Oceana Group Limited (the Company) 2013 Share Plan. SARs are allocated at an allocation price equal to the volume weighted average price of an Oceana Group share on the JSE over the 30 trading days immediately prior to the Offer Date ("the Allocation Price"). Provided that the performance criteria are met, one-third of the SARs allocation will vest on each of the third, fourth and fifth anniversary dates of the Offer Date (in terms of the performance criteria, the number of SARs vesting in relation to the full number allocated is progressively reduced if company financial performance targets are not met. The Participant may elect to delay exercise of the SARs to some future date not exceeding the seventh anniversary of the Offer Date. The value of the SARs which a Participant may exercise will be calculated with reference to the difference between the volume weighted average price of an Oceana Group share on the JSE over the 30 trading days immediately prior to the date on which a Participant exercises his SARs and the Allocation Price.

Tsogo Sun Holdings Announces Results Of Accelerated Bookbuild

(Reuters) - Tsogo Sun Holdings Ltd: * RESULTS OF ACCELERATED BOOKBUILD * PLACING PRICED ON 24 JUNE, 29.6 MILLION TSOGO SUN HOTELS ORDINARY SHARES WERE PLACED WITH INSTITUTIONAL INVESTORS AT PRICE OF R4.05 PER SHARE * PLACING PRICE REPRESENTS A DISCOUNT OF 4.5% TO CLOSING PRICE OF TSOGO SUN HOTELS ORDINARY SHARES ON 21 JUNE Source text for Eikon: Further company coverage: 2019-06-24 16.

Ballito Pro presented by O'Neill

Rocking festival line-up announced for this year's South Africa's musical legends will be amplifying the ‘rock' in Salt Rock Main Beach this winter when the Ballito Pro 2019 FREE Music Concerts Powered by 5FM kicks off on Thursday, 4 and Friday, 5 July from 4 pm. This unmissable concert forms part of the ongoing beachside Ballito Pro presented by O'Neill festival programme that is running at KwaDukuza from 27 June to 7 July. "As one of the annual festival highlights, we're excited to announce another incredible musical line-up for this year's two-night concert," said Collette Bundy, festival organiser.

One injured in truck vs bakkie crash

At 13H50 Monday afternoon Netcare 911 responded to reports of a collision on the N2 near the Umdloti offramp. Reports from the scene indicate that a light delivery vehicle and a Heavy motor vehicle were involved in a collision. The patient was assessed on scene by an Advanced life support paramedic and found to have sustained moderate injuries.

Van Dijk defends Naspers's dual shareholding structure

‘It's not something we made up.' TechCentral editor spoke to Naspers CEO Bob van Dijk about the group's acquisition, through Naspers Foundry, of a stake in SweepSouth, the Competition Commission's attempt to block its acquisition of WeBuyCars, the controversy over the group's dual shareholding structure, and its imminent listing of its new international Internet group Prosus on Euronext Amsterdam. Read: DUNCAN MCLEOD: Naspers Foundry has announced its first investment in South Africa, a R30 million investment in internet-based domestic cleaning service SweepSouth, and said more deals are coming soon. Can you give us some colour on what sort of businesses you're looking at currently and the size of the deals you are looking to make? BOB VAN DIJK: What is important for us with Foundry is we are looking at things that can address a significant societal need and that can scale, definitely to a big size in South Africa or even beyond South Africa.

Special Economic Zone to benefit North West young business

MOGWASE, June 24 (ANA) - Leema Industries, a company based in Mogwase outside Rustenburg stands to benefit from the Bojanala Special Economic Zone (SEZ) in the area. ANA NEWS WIRE Disclaimer: The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality. ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video.

"Standard Bank's new agencies • SA's Cannes Lions • #AgencyFocus: SearchKings • New Avatar CDO" - MarkLives

And other top advertising, media and marketing news, analysis and opinion on MarkLives for this week and last week, including… On the Radar: -  Fundudzi Media buys Sunday World -  New Ogilvy PR head -   RCL Foods awards digital biz -   Stiebel Eltron appoints SA marketing agency Cannes Lions: -  #CannesLions: South Africa wins Gold in Radio & Audio -  #CannesLions: South Africa wins Silver in Film -   #CannesLions: South Africa wins in Entertainment Features: Standard Bank taps M&C Saatchi Abel for TTL, Ogilvy SA for brand by MarkLives.   After ending a relationship spanning 26 years with TBWA\Hunt Lascaris, Standard Bank has appointed its four new agencies for through-the-line, brand, consumer public relations and corporate reputation management. Standard Bank win a boon for M&C Saatchi Abel by Carey Finn.

WeWork expanding local operations with Cape Town offices on the way

Earlier this year WeWork announced that it would opened their first South African location in Johannesburg, where Naspers will be one of their tenants. Now the creative office specialists have announced that they are expanding their operations to a second location - Cape Town. According to WeWork, they will be taking four floors of a building co-owned by Emira Property Fund and Swish Property Group in Cape Town in the fourth quarter of this year.

OCEANA GROUP LIMITED - Dealings in securities

OCE 201906240043A Dealings in securities Oceana Group Limited Incorporated in the Republic of South Africa (Registration number 1939/001730/06) JSE Share: OCE NSX Share Code: OCG ISIN Number: ZAE000025284 (‘Oceana') OCEANA GROUP LIMITED 2013 SHARE PLAN: DEALING IN SECURITIES In accordance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE Limited (‘the JSE'), shareholders are advised that the following director has been awarded and accepted Performance Vesting Share Appreciation Rights (‘SARs'), Performance Vesting Shares (‘PVS') and Restricted Shares (‘RS') in terms of the Oceana Group Limited (the Company) 2013 Share Plan. SARs are allocated at an allocation price equal to the volume weighted average price of an Oceana Group share on the JSE over the 30 trading days immediately prior to the Offer Date (‘the Allocation Price'). Provided that the performance criteria are met, one-third of the SARs allocation will vest on each of the third, fourth and fifth anniversary dates of the Offer Date (in terms of the performance criteria, the number of SARs vesting in relation to the full number allocated is progressively reduced if company financial performance targets are not met. The Participant may elect to delay exercise of the SARs to some future date not exceeding the seventh anniversary of the Offer Date. The value of the SARs which a Participant may exercise will be calculated with reference to the difference between the volume weighted average price of an Oceana Group share on the JSE over the 30 trading days immediately prior to the date on which a Participant exercises his SARs and the Allocation Price.

TSOGO SUN HOLDINGS LIMITED - Results of General Meeting

Wrap Text Results of General Meeting Tsogo Sun Holdings Limited (Incorporated in South Africa) Registration number: 1989/002108/06 Share code: TSH ISIN: ZAE000156238 ("Tsogo Sun" or "the Company") Results of General Meeting Reference is made to the circular distributed to shareholders of Tsogo Sun ("Shareholders") on 23 May 2019 ("the Circular") and the Company's notice to convene the General Meeting held today, Monday, 24 June 2019 ("the General Meeting") at which Shareholders were requested to consider and if deemed fit, pass the ordinary and special resolutions set out in the notice of the General Meeting. Capitalised terms used in this announcement bear the same meaning as the capitalised and defined terms used in the Circular. The total number of shares voted in person or by proxy at the General Meeting including abstentions was 963 301 920, representing 90.80% of Tsogo Sun's issued share capital as at Friday, 17 May 2019, being the Voting Record Date. The voting results were as follows: SHARES TOTAL SHARES VOTED ABSTAINED FOR AGAINST NUMBER %* %* RESOLUTION (%) (%) Special resolution 1 Approval of the name change to ‘Tsogo Sun 100.00% 0.00% 963,284,396 90.80% 0.00% Gaming Limited' Special resolution 2 Approval of the changes to the MOI 99.84% 0.16% 963,284,396 90.80% 0.00% consequent upon the name change Special resolution 3 Approval of certain non-material corrections 99.30% 0.70% 963,284,310 90.80% 0.00% and amendm

DINNER PARTY INTEL: Harare's ivory payday

Zimbabwe wants to trade in ivory, a move it says will help balance its ecosystem, which it says is overburdened by a thriving elephant population 1. Mark, it's an AIR sign Facebook will launch a cryptocurrency called Libra in 2020. But unlike currencies such as bitcoin, Libra will have a reserve of assets — every unit of Libra currency will be backed by something of intrinsic value. Facebook wants to create a form of payment that is as stable as the US dollar, can be used to buy anything, and can support financial products such as banking and loans.

Insuring your practice against business interruptions

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What colour should you choose for a job interview?

By Theresa Michau During a job interview you have only seven seconds to make that first impression count. Your outfit and the colours you wear already reveal a lot about you to your potential employer. Over and above ensuring that your outfit is appropriate, you also have to pay attention to the colour thereof.

These South African companies are retrenching staff in 2019

Multichoice has joined the bandwagon of South African companies that are cutting jobs to stay afloat in these difficult times. Why are these South African companies retrenching staff? The satellite network stated that, although billions of rand in returns were reported for the 2018/2019 financial year, consumer behaviour and data on their digital self-service shows that there is less of a need for that many call centre and walk-in centre agents on their roster. This is yet another blow for South Africa's economy, whose GDP retracted by more than 3% in the first half of the year.

TSOGO SUN HOLDINGS LIMITED - Results of Accelerated Bookbuild

Wrap Text Results of Accelerated Bookbuild Tsogo Sun Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 1989/002108/06) JSE Share code: TSH ISIN: ZAE000156238 ("Tsogo Sun Holdings") NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, EUROPEAN ECONOMIC AREA, CANADA, AUSTRALIA, JAPAN, OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE SECURITIES REFERRED TO HEREIN, IN OR INTO ANY JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT. RESULTS OF THE ACCELERATED BOOKBUILD Further to the announcement released by Tsogo Sun Holdings on the Stock Exchange News Services of the JSE Limited on 24 June, 2019 regarding the launch of an accelerated bookbuild placing ("the Placing") of ordinary shares in Tsogo Sun Hotels Limited ("Tsogo Sun Hotels"), Tsogo Sun Holdings is pleased to announce that the Placing successfully priced on 24 June, 2019 and 29,581,618 Tsogo Sun Hotels ordinary shares were placed with qualifying institutional investors at a price of ZAR4.05 per ordinary share ("Placing Price"). The Placing Price represents a discount of 4.5% to the closing price of Tsogo Sun Hotels ordinary shares on 21 June, 2019. Tsogo Sun Holdings would like to thank all investors that submitted bids and participated in the Placing. Johannesburg 24 June, 2019 Sole Bookrunner and Transaction Sponsor The Standard Bank of South Africa Limited IMPORTANT NOTICE This announcement is restricted and is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States, European Economic Area, Australia, Canada, Japan or any

Tips to improve your business pitch

CEO of Raizcorp, Allon Raiz Photo: https://www.speakersinc.co.za/allon-raiz-business-speaker/ Local entrepreneurs will have the opportunity to take their businesses to the next level at ENGEN Pitch & Polish by learning the art of pitching. This will be an exciting way for any entrepreneur with a money-making idea or a business to lift off the ground, but it can be an intimidating experience as well. ENGEN Pitch & Polish project creator and CEO of Raizcorp, Allon Raiz, gives five tips to polish your pitch so that you can reach your goals.

KwaZulu-Natal: One injured in PMB crash

KwaZulu-Natal: At 09H45 Monday morning Netcare 911 responded to reports of a collision on the corners of Doctor Chota Motala Road and Willowton Road in Willowton Industrial Pietermaritzburg. Reports from the scene indicate that a car and a bakkie were involved in a collision. The driver of the car, an adult male in his twenties sustained moderate injuries. He was treated on scene and once stabilised was transported by ambulance to hospital for further treatment. The driver of the bakkie escaped injury. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

Scopa chair hits ground running

Johannesburg The collapse of Steinhoff which saw the Public Investment Corporation (PIC) losing around R16billion endless bailouts for Eskom and the crisis plaguing the SABC are some of the issues new Scopa chairperson Mkhuleko Hlengwa wants to tackle urgently.Scopa (the standing committee on public accounts) acts as Parliaments watchdog on how taxpayer money is spent. Every year the auditorgeneral tables reports on the accounts and financial management of the various government departments and state institutions. Heads of government departments and institutions are regularly called by this committee to report and account for expenditure.Hlengwa said that while most of the committees intensive work would begin in September when the auditorgeneral submitted audit reports there were issues that could not wait.Among the issues Hlengwa said would receive urgent attention were Eskom and its endless bailouts the cash crisis at the SABC the failing Passenger Rail Agency of SA (Prasa) and governance problems at Transnet.There are issues that dont have to wait for that process chief among them is the issue around stateowned enterprises particularly the SABC (and) the bailout that is going to be given to Eskom.

OPINIONISTA: Money is the unfair advantage in the business of using law to seek justice

Last week a full Bench of the High Court dismissed former president Jacob Zuma's attempt to appeal their ruling that he was not entitled to receive state funding for his criminal defence. The court ordered Zuma to repay more than R16-million with which taxpayers have funded his attempts to avoid facing trial on corruption charges. When you have R16-million at your disposal, your lawyers can provide you with the kind of muscular legal assistance that ordinary criminal accused persons can only dream of.

Business Why President Buhari is still reluctant to sign the AfCFTA

Nearly a month after reports surfaced that Nigeria may be ready to sign the African Continental Free Trade Agreement (AfCFTA), President Muhammadu Buhari has blown the lid off, stating reasons for the country's reluctance to commit to the trade pact. The president, who demanded an impact assessment on the deal and "I don't think Nigeria has the capacity to effectively supervise and to ensure that our colleagues in AU (African Union) don't allow their countries to be used to dump goods on us to the detriment of our young industries and our capacity to utilise foreign exchange for imported goods," President Buhari said, in a The African leader's claim is in line with that of the President MAN, Engineer Mansur Ahmed, who had "The position of the association is that the government should not sign the framework agreement until wide-reaching sensitization and proper assessment is conducted on its impact on the economy and the manufacturing sector," Ahmed said in January. The association's stand is based on a sector-specific study conducted on AfCFTA. Following the visit by MAN which is reportedly connected to an agitation against the signing of AfCFTA, the President promised to look into the presentation by the association highlighting issues of concern to the manufacturing sector but it seems highly unlikely Nigeria is going to implement the free trade area anytime soon even if it is signed immediately.

Q&A: Van Dijk defends Naspers's dual shareholding structure

Naspers CEO Bob van Dijk TechCentral editor Duncan McLeod spoke to Naspers CEO Bob van Dijk about the group's acquisition, through Naspers Foundry, of a stake in SweepSouth, the Competition Commission's attempt to block its acquisition of WeBuyCars, the controversy over the group's dual shareholding structure, and its imminent listing of its new international Internet group Prosus on Euronext Amsterdam. Duncan McLeod: Naspers Foundry has announced its first investment in South Africa, a R30-million investment in Internet-based domestic cleaning service SweepSouth, and said more deals are coming soon. Can you give us some colour on what sort of businesses you're looking at currently and the size of the deals you are looking to make? Bob van Dijk: What is important for us with Foundry is we are looking at things that can address a significant societal need and that can scale, definitely to a big size in South Africa or even beyond South Africa.

The best cloud video conferencing service for your business

Video conferencing has many advantages for a business, including improved collaboration between teams and saving on travel costs for meetings. It is a powerful tool which can improve productivity and is a must-have for businesses with offices in more than one location. While there are many free video conferencing tools, poor service levels can make the experience unpleasant and unproductive.

10 ways to reinvent your business in the digital age

Business leaders share observations, lessons and insights at a Business Day Dialogue Earlier this month, business leaders explored the future of work at a Business Day Dialogue in partnership with IBM. The breakfast kicked off the 2019 Think Summit - IBM South Africa's flagship conference. IBM SA country general manager Hamilton Ratshefola called on John Granger, senior vice president of Cloud Application Innovation at IBM Global Business Services, to speak on IBM's transformation journey.

OPINIONISTA: Money is the unfair advantage in the business of using law to seek justice

Last week a full Bench of the High Court dismissed former president Jacob Zuma's attempt to appeal their ruling that he was not entitled to receive state funding for his criminal defence. The court ordered Zuma to repay more than R16-million with which taxpayers have funded his attempts to avoid facing trial on corruption charges. When you have R16-million at your disposal, your lawyers can provide you with the kind of muscular legal assistance that ordinary criminal accused persons can only dream of.

Administrative error sees NewCo listing on Euronext delayed

JOHANNESBURG Global consumer internet group Naspers has delayed the proposed listing of its new global consumer internet group (NewCo) on the Euronext Amsterdam Stock Exchange after it found an administrative error by an external service provider.  Naspers said on Friday that the error had resulted in certain of the copies of the circular delivered to shareholders being incorrectly labelled.  The service provider concerned has advised Naspers that the error occurred in pairing the names and addresses of some shareholders for purposes of printing labels on the envelopes in which the physical copies of the circular were delivered to certain shareholders. This meant that some circulars were sent to the correct addresses of the affected shareholders but that incorrect names appeared on these envelopes the name and address did not match. This could in some cases lead to confusion the group said.

German business sentiment lowest since November 2014 -Ifo

* Lowest reading since November 2014 * Executives fear trade wars could escalate * Analysts don't expect a recession (Adds government spending plans) By Joseph Nasr BERLIN, June 24 (Reuters) - German business morale fell to its lowest level since November 2014 in June, a survey showed on Monday, adding weight to expectations that Europe's largest economy contracted in the second quarter. The Ifo institute said its business climate index deteriorated for the third month in a row, to 97.4 in June from 97.9 in May. That was slightly above a consensus forecast for 97.2. "The German economy is heading for the doldrums," Ifo President Clemens Fuest said, adding that the business climate in both the manufacturing and services sectors had worsened. After nine successive years of growth, the German economy is struggling as trade disputes and a cooling world economy hurt its export-dependent manufacturers and as Britain's delayed exit from the European Union creates uncertainties. The Bundesbank said this month it expects the economy to contract slightly in the second quarter after an expansion of 0.4% between January and March. The government has halved its 2019 growth forecast to 0.5% after an expansion of 1.5% in 2018, the weakest rate in five years. Ifo economist Klaus Wohlrabe said the trade conflict between the United States and China -- the world's two largest economies -- was the main source of uncertainty for German businesses. He said he did not expect a recession, a view also held by analysts. "All told, we expect the German economy to slow to little more than a crawl in the second quarter," Christina Iacovides of Capital Economics wrote in a note. 'FEAR OF LOSING' An index measuring managers' assessment of their current situation rose slightly while another gauging expectations fell to its lowest level since

Business News: Eskom bailout causes investors to balk at debt

- During SONA, President Ramaphosa announced a bill to provide Eskom with R230 billion in funds - However, some worry that this bailout has spooked investors - This comes as uncertainty around the power utility remains a major obstacle to investor confidence PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! Cyril Ramaphosa's pledge to allocate R230 billion for Eskom over the next 10 years is good news for the power utility, but has reportedly been received negatively by many investors. The president announced during his State of the Nation Address that he would table a motion to allocate more funds to Eskom. However, Treasury has reportedly not budgeted for this extra expenditure.

BRIEF-KAP Industrial Says Old Mutual Now Holds 10.03% Stake

June 24 (Reuters) - KAP Industrial Holdings Ltd KAPJ.J : * DISCLOSURE OF ACQUISITION OF SECURITIES IN THE COMPANY * TOTAL BENEFICIAL INTEREST IN ORDINARY SHARES OF COMPANY HELD BY OLD MUTUAL AMOUNTS TO 10,03% OF TOTAL ISSUED ORDINARY SHARES OF CO.

OPINIONISTA: Money is the unfair advantage in the business of using law to seek justice

Last week a full Bench of the High Court dismissed former president Jacob Zuma's attempt to appeal their ruling that he was not entitled to receive state funding for his criminal defence. The court ordered Zuma to repay more than R16-million with which taxpayers have funded his attempts to avoid facing trial on corruption charges. When you have R16-million at your disposal, your lawyers can provide you with the kind of muscular legal assistance that ordinary criminal accused persons can only dream of.

KAP INDUSTRIAL HOLDINGS LIMITED - Disclosure Of Acquisition Of Securities In The Company

Wrap Text Disclosure Of Acquisition Of Securities In The Company KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1978/000181/06) Share code: KAP ISIN: ZAE000171963 ("the Company") DISCLOSURE OF ACQUISITION OF SECURITIES IN THE COMPANY In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008, as amended, and in accordance with paragraph 3.83(b) of the JSE Limited Listings Requirements, shareholders are hereby advised that the Company has received formal notification in the prescribed form from Old Mutual Limited ("Old Mutual"), declaring that Old Mutual has, in aggregate, acquired a beneficial interest in the ordinary shares of the Company, such that the total beneficial interest in the ordinary shares of the Company held by Old Mutual amounts to 10,03% of the total issued ordinary shares of the Company. By order of the Board KAP Secretarial Services Proprietary Limited Stellenbosch 24 June 2019 Sponsor PSG Capital Date: 24/06/2019 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

Business Leadership SA boss to leave

JOHANNESBURG -  Business Leadership SA (BLSA) CEO Bonang Mohale has chosen not to renew his contract at the organisation.  The organisation's current Chief Operating Officer (COO) Busisiwe Mavuso will take up the reigns, according to Fin24.   My last week as BLSA CEO, they have decided to throw me a farewell party later today. I'm grateful for the opportunity having led this prestigious organization over the past two years. I leave the organization in capable hands of a highly competent team.

NASPERS LIMITED - No Change Statement

NPN 201906240031A No Change Statement Naspers Limited (Incorporated in the Republic of South Africa) (Registration number 1925/001431/06) JSE share code: NPN ISIN: ZAE000015889 LSE ADS code: NPSN ISIN: US 6315121003 (‘Naspers' or ‘the company') NO CHANGE STATEMENT Shareholders are advised that the audited Company and Group annual financial statements for the year ended 31 March 2019 are now available on our website www.naspers.com. The annual financial statements contain no modifications to the summarised audited Group financial statements that were published on 21 June 2019. PricewaterhouseCoopers Inc. completed their audit of the Company and Group annual financial statements on 21 June 2019.

Amazon's phenomenal brand value growth

With little sign of a growth slowdown, Amazon has become the world's most valuable brand, according to the 2019 BrandZ Top 100 Most Valuable Global Brands ranking.   The ranking combines market data from Bloomberg with extensive consumer insights from over 3.7-million consumers worldwide, covering 166,000 brands in more than 50 markets. Amazon's acquisitions, which have brought new revenue streams, excellent customer service and the ability to stay ahead of competitors by offering diverse products and services, have allowed it to accelerate its brand value growth.

Insuring your practice against business interruptions

Any disruption to a business's operations will hurt its sustainability. For medical professionals, this risk is even more acute because a shutdown of operations could, in extreme cases, be a matter of life and death. Image source: Getty/Gallo Apart from medical equipment not operating as it should, the lack of power could endanger the careful conditions under which medicines or life-saving drugs need to be stored.

MEDICLINIC INTERNATIONAL PLC - Transactions by persons discharging managerial responsibilities and persons closely associate

Wrap Text Transactions by persons discharging managerial responsibilities and persons closely associated with them Mediclinic International plc (Incorporated in England and Wales) Company Number: 08338604 LSE Share Code: MDC JSE Share Code: MEI NSX Share Code: MEP ISIN: GB00B8HX8Z88 LEI: 2138002S5BSBIZTD5I60 South African income tax number: 9432434182 ("Mediclinic", the "Company", or the "Group") 24 June 2019 NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM This notification sets out the details of awards over ordinary shares in Mediclinic ("Shares") granted to Directors and other persons discharging managerial responsibilities ("PDMRs") on 19 June 2019 under the Company's Short-Term Incentive Scheme (the "STI") and Long-Term Incentive Plan (the "LTIP"), together with details regarding the vesting and settlement of awards granted in 2017 under the Company's STI. Awards granted under the Company's Short-Term Incentive Scheme and Long-Term Incentive Plan On 19 June 2019, awards over Shares were granted to the following Directors and other PDMRs under the Company's STI and LTIP, approved by shareholders in July 2017. Name Director/ Number of Number of Shares PDMR Shares awarded under awarded the LTIP under the STI Dr Carel Aron van der Merwe Director 21 962 373 437 Petrus Jurgens Myburgh Director 14 417 206 456 Daniel Petrus Meintjes Director 7 679 n/a David John Hadley PDMR n/a 137 370 Gert Cornelis Hattingh PDMR n/a 81 466 Dr Rene Toua PDMR

Q&A: Van Dijk defends Naspers's dual shareholding structure

Naspers CEO Bob van Dijk TechCentral editor spoke to Naspers CEO Bob van Dijk about the group's acquisition, through Naspers Foundry, of a stake in SweepSouth, the Competition Commission's attempt to block its acquisition of WeBuyCars, the controversy over the group's dual shareholding structure, and its imminent listing of its new international Internet group Prosus on Euronext Amsterdam. Duncan McLeod: Naspers Foundry has announced its first investment in South Africa, a R30-million investment in Internet-based domestic cleaning service SweepSouth, and said more deals are coming soon. Can you give us some colour on what sort of businesses you're looking at currently and the size of the deals you are looking to make? Bob van Dijk: What is important for us with Foundry is we are looking at things that can address a significant societal need and that can scale, definitely to a big size in South Africa or even beyond South Africa.

GLOBAL MARKETS: Shoppers play ball

US retail sales increased in May and sales for April were revised higher, suggesting a pick-up in consumer spending US retail sales increased in May and sales for April were revised higher, suggesting a pick-up in consumer spending that could ease fears the economy was slowing down sharply in the second quarter. The fairly upbeat report follows a raft of weak data, including a step-down in hiring in May and tame inflation readings, that has led economists to believe the Federal Reserve will cut rates. Reuters Gimme stimulus A key metric for the European Central Bank (ECB) of where investors expect inflation to be in future — so-called five-year inflation swaps — has fallen to just under 1.2%, the lowest level since records began in 2003. Analysts say the latest drop could force the hand of the ECB to launch more monetary stimulus, a course of action the central bank is already considering. Last week, ECB president Mario Draghi said he was watching inflation expectations closely.

One injured in PMB crash

At 09H45 Monday morning Netcare 911 responded to reports of a collision on the corners of Doctor Chota Motala Road and Willowton Road in Willowton Industrial Pietermaritzburg. Reports from the scene indicate that a car and a bakkie were involved in a collision . The driver of the car, an adult male in his twenties sustained moderate injuries.

Good Business Basics: Family planning must be a priority

At a recent event I attended, a young academic from UKZN presented us with some comparative economic statistics for the Ugu District. One of the figures he provided was the birth rate in the district, which was significantly higher than the provincial average. Prudent He went on to point out that in stressful economic times, such as the ones we are currently experiencing, it was prudent to encourage people to delay having children until their personal economic situation could sustain a new life.

EOH has 3 new independent directors on its board

DURBAN JSElisted information technology group EOH Holdings appointed three independent nonexecutive directors to its board in an effort to strengthen its corporate governance.The new appointments follow that of Dr Xolani Mkhwanazi as the new chairperson at the beginning of the month. EOH said on Friday that it has appointed Dr Anushka Bogdanov Andrew Mthembu and Michael Bosman as independent nonexecutive directors with immediate effect.Mkhwanazi hailed the new board members and said he was looking forward to their contribution to the group. These appointments are another important milestone for the EOH Group as the skill and experience brought by our incoming directors will go a long way towards enhancing and complementing our leadership capability and governance oversight.

German economy heads for doldrums as business morale dips again- Ifo

(Adds analyst, background) BERLIN, June 24 (Reuters) - German business morale deteriorated for the third month in a row in June, a survey showed on Monday, adding weight to expectations that Europe's largest economy contracted in the second quarter. The Ifo institute said its business climate index fell to 97.4 from 97.9 in May. The June reading compared with a consensus forecast for 97.2. "The German economy is heading for the doldrums," Ifo President Clemens Fuest said, adding that the business climate in both the manufacturing and services sectors had worsened. The services sector has been providing impetus as manufacturing shrinks. The Bundesbank said this month it expects the economy to contract slightly in the second quarter after an expansion of 0.4% between January and March. After nine successive years of growth, Germany is struggling as its export-dependent manufacturers battle headwinds from trade disputes, Brexit uncertainties and a cooling world economy. The economy has been relying on private consumption for growth, a cycle supported by a robust labour market, low interest rates and rising wages. (Reporting by Joseph Nasr Editing by Michelle Martin and John Stonestreet) First Published: 2019-06-24 10:07:27 Updated 2019-06-24 10.

JSE flat as market eyes US-Iranian tension

Risk-appetite is expected to be limited at the start of this week, as investors eye Middle-Eastern developments, and wait for a US-China meeting The JSE was little changed on Monday morning, with losses by banks offsetting gains by miners, amid risk-off trade on global markets. Tension between the US and Iran was serving to keep trade cautious, with the US indicating it was seeking an international response to Iran's destruction of a US drone last week. US President Donald Trump has indicated that he will implement new sanctions on Iran, seeking to reduce that country's exports of oil to zero. Besides the Iranian tensions, the upcoming Group of 20 (G20) meeting brings the trade war between the US and China back on the table, said London Capital Group senior market analyst Ipek Ozkardeskaya in a note. While Trump and Chinese President Xi Jinping are expected to meet at this week's summit in Osaka, the chances of a trade deal between the two countries remain slim, he said. At 9.40am the rand was flat at R14.3325/$. The all share was down 0.08% to 58,896 points and the top 40 0.13%. Banks had fallen 1.31% and general retailers 1.15%.

EMERGING MARKETS-Turkey's lira jumps on opposition win in Istanbul vote, emerging FX steady

* Lira firms after opposition wins Istanbul election * Oil gains help Russia's rouble * All eyes of G20 meeting later this week By Sruthi Shankar June 24 (Reuters) - Turkish assets rallied on Monday after the main opposition beat President Tayyip Erdogan's ruling AK Party in Istanbul's re-run mayoral election, while most emerging currencies held steady as investors cautiously awaited the G20 summit this week. The lira firmed, touching 5.697 to the dollar, its highest in more than two weeks, after the opposition Republican People's Party won Sunday's repeat mayoral vote, dealing a major blow to the AKP. Dollar-denominated bonds issued by Turkey's government rose across the curve, while the main stocks benchmark jumped 1.6%, helped by a rally in banking shares.

FNB Business Innovation Awards for disruptive thinkers, innovators and creators

If you own a business that is doing things differently, then the FNB Business Innovation Awards is a great opportunity to make your mark, says SME Banking head at FNB Business Jesse Weinberg. The FNB Business Innovation Awards aim to celebrate and recognise innovative and scalable business with the potential to grow exponentially and are focused on assisting businesses in unleashing their potential to scale nationally or even globally. There are so many examples of South African businesses that go beyond just doing business but take it a step further and build organisations that have long-lasting and far-reaching impact in the communities they service and beyond. FNB Business wants to recognise and celebrate It's these outstanding businesses that FNB Business wants to recognise and celebrate, says Weinberg. If you are a disruptive thinker, a job creator, enter the FNB Business Innovation Awards, and you could be the next FNB Business Innovator of the Year. This article first appeared on 7.

Millennials Disrupt Traditional Business Aspirations

By 2025, millennials will make up 75% of the global workforce and their growing influence on business is rapidly redefining our notion of success. Unlike Baby Boomers, whose aspirations centred around working their way up the corporate ladder, millennials gravitate towards entrepreneurship and the flexibility, innovation, creativity and purpose associated with start-up businesses. This is why they're the most entrepreneurial generation yet, with 66% aspiring to one day start a business of their own, according to a study by Bentley University. "As products of the digital age, millennials have grown up with a culture of connectedness, where news travels fast and normal people have a platform from which to address potentially large audiences.

Business centre enlarges footprint

The West Coast Business Development Centre's (WCBDC) satellite office in St Helena Bay is proving to be an asset to the communities it serves. Weslander reported in February that the WCBDC opened the centre to serve aspirant and existing business owners in the West Coast towns of Laingville, Steenberg's Cove, Stompneusbaai, Velddrif and Lamberts Bay. This was made possible by Lucky Star, which forms part of the Oceana Group.

WeWork to open office in Cape Town

WeWork has announced that it will open its first office in Cape Town, as well as a second Johannesburg office in Sandton. The Cape Town office will comprise four floors in the 80 Strand Street office block, which is situated in the Cape Town CBD. It will be capable of housing over 590 members, and is set to open in the fourth quarter of this year. "We're pleased to announce our expansion to Cape Town," said Patrick Nelson, head of WeWork's real estate department in EMEA. "Not only is it a flourishing city in terms of culture and opportunity, but for business, it's a central point for entrepreneurs and large companies to be based." The second Johannesburg office will be situated in West Street, and is also set to open in Q4 2019. It will be capable of hosting over 1,800 members. Nelson added that WeWork has seen great uptake since opening in South Africa. "Since announcing our expansion to South Africa, we've seen great interest from companies of all sizes, including Naspers, who will be moving into our first location in Johannesburg later this year," he said..

Brightoil awaits restructuring plan as business shifts to shipping e-commerce

* Plans to sell rest of its tankers to repay debt * To complete Zhoushan oil storage project before selling a stake * Banking on e-commerce website for shipping industry By Florence Tan SINGAPORE, June 24 (Reuters) - Brightoil Petroleum Holdings Ltd could receive a restructuring proposal from Chinese banks in the third quarter while it sells assets to pay off debt and shifts to becoming a shipping e-commerce platform, a company official said on Friday. Brightoil suspended trading in its shares in October 2017 and has since been snagged in lawsuits brought on by creditors. The company debt's were $1.9 billion, according to a statement to the Hong Kong stock exchange in January, of which $250 million is being claimed by creditors.

It was a dramatic week for financial markets

JOHANNESBURG - As had been anticipated in last week's review, markets reacted strongly on various economic indicators and policy decisions last week.  Globally equity markets had rallied strongly as both the European Central Bank's Mario Draghi and the Fed chairperson Jerome Powell gave strong indications that interest rates will start to move lower in a new cycle of downward rates in months to come. Bond rates in reaction had tumbled with the US 10-year bond dipping in below 2.0percent. Yields on 10-year German government bonds fell to a fresh all-time low of -0.315percent, as investors digested the prospect of fresh bond purchases by the ECB.

Three arrested for targeting business

a mere two days after they had targeted a business in Bekkersdal. They were found to be in possession of many stolen items. According to the police, the perpetrators, who are between the ages of 24 and 40, were arrested after police responded to tip-off about the business burglary.

Vodacom ties up with Angola's ITA

Vodacom Group has entered into an agreement with Internet Technologies Angola (ITA), the largest independent enterprise telecommunications provider in Angola. In terms of the agreement, ITA will acquire Vodacom Business Africa's Angolan operations and assets. The two entities are in the process of concluding the required agreements, which are subject to the approvals of the regulatory authorities within these markets.

Sudan: Sudan Needs to Be Open for Business and Investment

[Radio Dabanga] London -Former banker and civil society activist Hafiz Ismail is a leading member of the Sudanese panel of experts, many of whom have been living in exile since 1989. Radio Dabanga caught-up with him in London this month to ask him about his vision on the future of Sudan in the context of the current climate of change, following the overthrow of the Al Bashir regime..

NASPERS LIMITED - No Change Statement

Wrap Text No Change Statement Naspers Limited (Incorporated in the Republic of South Africa) (Registration number 1925/001431/06) JSE share code: NPN ISIN: ZAE000015889 LSE ADS code: NPSN ISIN: US 6315121003 ("Naspers" or "the company") NO CHANGE STATEMENT Shareholders are advised that the audited Company and Group annual financial statements for the year ended 31 March 2019 are now available on our website www.naspers.com. The annual financial statements contain no modifications to the summarised audited Group financial statements that were published on 21 June 2019. PricewaterhouseCoopers Inc. completed their audit of the Company and Group annual financial statements on 21 June 2019.

First Girl Geek Summit to get more disadvantaged girls into STEM

Local non-profit organisation, , is launching a new flagship event to inspire 100 high school girls from disadvantaged communities to pursue careers in science, technology, engineering and mathematics (STEM). The summit is sponsored by financial services company MMI Holdings (home to Momentum and Metropolitan) and virtual reality development agency Apodytes. The inaugural Girl Geek Summit will take place from Friday 28 to Saturday 29 June 2019 at their head office in Centurion.

BRITISH AMERICAN TOBACCO PLC - Notification and public disclosure of transactions by persons discharging managerial responsi

Wrap Text Notification and public disclosure of transactions by persons discharging managerial responsibilities 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. (the "Company") Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Tadeu Marroco 2 Reason for the notification a) Position/status Director, Group Transformation and Deputy Finance Director b) Initial notification Initial notification /Amendment 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name British American Tobacco p.l.c. b) LEI 213800FKA5MF17RJKT63 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted Transaction 1 a) Description of the financial instrument, type of instrument Ordinary shares of 25p each Identification code GB0002875804 b) Nature of the transaction Exercise of options under the British American Tobacco Long-Term Incentive Plan (2016 Award) c) Price(s) and volume(s) Price(s) Volume(s) £nil 15,154 d) Aggregated information - Aggregated volume 15,154 - Price

Richmond house fire claims 38-year-old woman's life

At 22H47 Sunday Netcare 911 responded to reports of a house fire on Russel Street in Richmond. Reports from the scene indicate that a 38-year-old female had sustained smoke inhalation and minor burns when a fire broke out in the house. The patient was transported to a nearby clinic in a serious condition prior to the ambulance arriving on scene where the crew were informed and re routed to the clinic.

Experts at the ready: view the full line-up of The Directors Event 2019

SA's biggest board meeting takes place on June 28 The final line-up of speakers at the fifth edition of The Directors Event, presented in association with the annual Sunday Times Top 100 Companies Awards and the Institute of Directors Southern Africa and in partnership with BCX, has been announced. The Chairman's Report will be delivered by Phuti Mahanyele-Dabengwa, the executive chairperson of Sigma Capital, while Chief Justice Mogoeng Mogoeng will deliver the keynote speech. The Directors Event attracts an audience of senior management and C-level executives and is aptly referred to as "SA's biggest board meeting", where industry leaders debate major issues affecting the country's economy via three moderated panel discussions: Youth employment and entrepreneurship: securing SA's future Moderated by Thabiso Tema According to a mid-2018 report by Stats SA, more than half of SA's population is female (about 29.4m) and more than a third of our total population of 57.7m citizens are between 15 and 34 years of age.

Africa: U.S. - Africa Business Summit Successful

[Botswana Daily News] Maputo -Some top notch executives and leading captains of the business world who attended the just-ended 12th US - Africa Business Summit in Maputo, Mozambique have lauded Botswana for making great strides in its quest to find its footing within the global business space..

RCL Foods partners with Conversation LAB

The company manufactures a range of branded and private label food products, such as Nola, Yum Yum and Rainbow Chicken, which is distributed through its own route-to-market supply chain specialist, Vector. Conversation LAB has been one of RCL FOODS' partners in publishing interim and annual results. Further to this, Conversation LAB has complemented this with other services, including account management of RCL FOODS' Corporate website, an online brand reputation audit project and supporting the group with other technology services.

FNB Business Innovation Awards for disruptive thinkers, innovators and creators

If you own a business that is doing things differently, then the FNB Business Innovation Awards is a great opportunity to make your mark, says SME Banking head at FNB Business Jesse Weinberg. The FNB Business Innovation Awards aim to celebrate and recognise innovative and scalable business with the potential to grow exponentially and are focused on assisting businesses in unleashing their potential to scale nationally or even globally. There are so many examples of South African businesses that go beyond just doing business but take it a step further and build organisations that have long-lasting and far-reaching impact in the communities they service and beyond.

Reality bites for the JSE

The JSE says it expects a big drop in earnings for the six months ending June 2019, citing the state of the current economy in South Africa. The country's largest trading bourse advised that it expects headline earnings per share (HEPS) to be between 490.95 cents and 425.49 cents - 25% and 35% lower than the 654.6 cents reported in 2018. Earnings per share (EPS) is expected to be between 491.03 cents and 425.56 cents.

Business centre enlarges footprint

The West Coast Business Development Centre's (WCBDC) satellite office in St Helena Bay is proving to be an asset to the communities it serves. Weslander reported in February that the WCBDC opened the centre to serve aspirant and existing business owners in the West Coast towns of Laingville, Steenberg's Cove, Stompneusbaai, Velddrif and Lamberts Bay. This was made possible by Lucky Star, which forms part of the Oceana Group.

WATCH: Moon landing good for business 50 years later

, after humans first visited the moon, businesses are still trying to make a buck. Hundreds of millions of people were riveted when Apollo 11 astronauts landed on the moon. Naturally, marketers jumped at the chance to sell products..

Gas Exporting Countries and Qatari Energy Leaders meet with Equatorial Guinea Petroleum Minister on First-Ever Gas Heads of

The Minister of Mines and Hydrocarbons of Equatorial Guinea,  H.E. Gabriel Mbaga Obiang Lima is on a visit to Doha this week where he notably met Dr. Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF), in anticipation of Equatorial Guinea hosting next November the GECF's 5 th Gas Summit and 2 nd International Gas Seminar.

WeWork to open Cape Town office in late 2019

New York-based provider of shared-office space recently announced its entry into the SA market via a shared workspace in Rosebank, Johannesburg WeWork, the New York-based provider of shared-office space that is preparing to go public, plans to enter the Cape Town market in late 2019. The group, which is backed by Japan's Softbank and is said to be worth $47bn (R671bn), recently announced its entry into the SA market via a shared workspace in Rosebank, Johannesburg. In Cape Town, WeWork will take up four floors at the 80 Strand Street building, which is co-owned by JSE-listed Emira Property Fund and Swish Property Group. The workspace is expected to open in the fourth quarter of 2019, WeWork said on Monday. "Since announcing our expansion to SA, we've seen great interest from companies of all sizes, including Naspers, who will be moving into our first location in Johannesburg later this year," said Patrick Nelson, head of WeWork's real estate operations in Europe, the Middle East and Africa. Emira Property Fund CEO Geoff Jennett said the recent upgrade of the 80 Strand building "has created an ideal home for WeWork and its members in the city, and will no doubt become a bustling hub for growing businesses in Cape Town". hedleyn@businesslive.co.za.

EMERGING MARKETS-Turkey's lira jumps on opposition win in Istanbul vote,...

* Lira firms after opposition wins Istanbul election * Oil gains help Russia's rouble* All eyes of G20 meeting later this week By Sruthi Shankar June 24 (Reuters) - Turkish assets rallied on Monday after the main opposition beat President Tayyip Erdogan's ruling AK Party in Istanbul's re-run mayoral election, while most emerging currencies held steady as investors cautiously awaited the G20 summit this week. The lira TRY= firmed, touching 5.697 to the dollar, its highest in more than two weeks, after the opposition Republican People's Party won Sunday's repeat mayoral vote, dealing a major blow to the AKP. bonds issued by Turkey's government rose across the curve, while the main stocks benchmark .XU100 jumped 1.6%, helped by a rally in banking shares. is undoubtedly good news for the lira and rates.

Experts at the ready: view the full line-up of The Directors Event 2019

SA's biggest board meeting takes place on June 28 The final line-up of speakers at the fifth edition of The Directors Event, presented in association with the annual Sunday Times Top 100 Companies Awards and the Institute of Directors Southern Africa and in partnership with BCX, has been announced. The Chairman's Report will be delivered by Phuti Mahanyele-Dabengwa, the executive chairperson of Sigma Capital, while Chief Justice Mogoeng Mogoeng will deliver the keynote speech. The Directors Event attracts an audience of senior management and C-level executives and is aptly referred to as "SA's biggest board meeting", where industry leaders debate major issues affecting the country's economy via three moderated panel discussions: Youth employment and entrepreneurship: securing SA's future Moderated by Thabiso Tema According to a mid-2018 report by Stats SA, more than half of SA's population is female (about 29.4m) and more than a third of our total population of 57.7m citizens are between 15 and 34 years of age. Young people are the most affected by SA's high unemployment rate as they struggle with access to education, finding jobs and insufficient training, among other challenges.

Gauteng: Motorcyclist injured after landing in ditch

Gauteng: Sunday afternoon Netcare 911 responded to reports of a collision on Aureole Avenue in North Riding Randburg. Reports from the scene indicate that a male teenager offroad motorcyclist landed in a ditch behind a ramp at a motorcross track. The patient was assessed on scene by medics and found to have sustained moderate injuries. He was treated on scene and once stabilised by an advanced life support paramedic was transported by Netcare 911 ambulance to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Conclusion of the disposal of interest in Max Healthcare Institute Limited

Wrap Text Conclusion of the disposal of interest in Max Healthcare Institute Limited 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 Company") CONCLUSION OF THE DISPOSAL OF INTEREST IN MAX HEALTHCARE INSTITUTE LIMITED Further to the announcements released on the Stock Exchange News Service on 20 September 2018 and 7 January 2019, shareholders are advised that Life Healthcare International Proprietary Limited (a wholly owned subsidiary of the Company) and Radiant Life Care Private Limited ("Radiant"), have concluded the share purchase agreement ("Agreement") entered into on 24 December 2018, with the fulfilment of all conditions precedent to the Agreement and receipt of the sale proceeds. Through the successful conclusion of this transaction, Radiant has acquired the 49.7% stake held by Life Healthcare International Proprietary Limited in Max Healthcare Institute Limited, with effect from 21 June 2019. In terms of the Agreement, Radiant acquired the 49.7% stake for 80 Rupees per share, which equates to approximately R3.7 billion of net proceeds received after costs, hedges and taxes. This has resulted in a profit on disposal of approximately R900 million. As communicated previously to shareholders, the Company will utilise the funds received to settle debt. Illovo 24 June 2019 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/06/2019 07:05:00 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-21 June2019

GLN 201906240021A GLN: Transactions In own Shares-21 June2019 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 June 2019 Transactions in own shares-21 June 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: 21 June 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,500,000 owest price paid per share (GBp): 278.0000 Highest price paid per share (GBp): 282.7000 Volume weighted average price paid per share (GBp): 281.0364 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 900,156,970 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 13,686,043,096. 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 Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 281.0400 1,547,428 BATS 281.0168 28,492 Chi-X 281.0310 924,080 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 ind

Safe haven appeal drives gold shares rise

JOHANNESBURG Gold mining company share prices received a hefty boost from the rising gold price last week after the yellow metaldollar spot price hit a six year high on Thursday due to expectations of interest rates cuts in the US weakening global growth and rising trade tensions.These factors helped drive the safe haven appeal of the metal. But the gold price which steadied at around $1388.60 (R19851) per ounce on Friday has been ticking up for some time and gold bugs who invested wisely will have benefited handsomely. Gold mining companies would have also gained from the weaker rand on Friday following President Cyril Ramaphosas State of the Nation address on Thursday night.Just to focus on one gold share: consider that AngloGold Ashanti traded at R246.83 early on Friday morning which was more than 47percent higher than the price over a month.

Gauteng: Man injured after swerving to avoid a gas bottle on freeway

Gauteng: At 22H49 Sunday night Netcare 911 responded to reports of a collision on the M2 in Germiston. Reports from the scene indicate that the driver of a light motor vehicle lost control when he tried to avoid a gas bottle in his lane. In the process the vehicle the crashed into the barrier and rolled. The driver, a 73-year-old male sustained minor injuries and was treated on scene. Once stabilised the patient was transported by Netcare 911 ambulance to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911 https://t.co/SfPi9oCHME #ArriveAlive @Netcare911_sa pic.twitter.com/jeJhNj4nnX — Arrive Alive (@_ArriveAlive) June 24, 2.

Man injured after swerving to avoid a gas bottle on freeway

At 22H49 Sunday night Netcare 911 responded to reports of a collision on the M2 in Germiston. Reports from the scene indicate that the driver of a light motor vehicle lost control when he tried to avoid a gas bottle in his lane. In the process the vehicle crashed into the barrier and rolled.

Safe haven appeal drives gold shares rise

JOHANNESBURG - Gold mining company share prices received a hefty boost from the rising gold price last week, after the yellow metal/dollar spot price hit a six year high on Thursday, due to expectations of interest rates cuts in the US, weakening global growth, and rising trade tensions. These factors helped drive the safe haven appeal of the metal. But the gold price, which steadied at around $1388.60 (R19851) per ounce on Friday, has been ticking up for some time and gold bugs who invested wisely will have benefited handsomely.

Namibia: Geingob Calls for Funding of New Business Ideas

[Namibian] PRESIDENT Hage Geingob has called on financial institutions in the private sector, including banks, to stop demanding excessive collateral from entrepreneurs and share risks by funding new businesses..

Rand Strengthened to Best Level in Over a Year on Friday

South Africa The JSE ended the week in negative territory on Friday following a sluggish performance by Naspers (JO:NPNJn) and as retailers and banks succumbed to structural pressures. Shortly after the closing bell, the All Share lost 0.05%. United States US markets retreated on Friday as escalating tensions between the US and Iran spooked investors. At 17h15, the Dow was trading 0.13% in the red.

CORESHARES INDEX TRACKER MANAGERS (RF) PROPRIETARY LIMITED - Index Rebalance Announcement

Wrap Text Index Rebalance Announcement CoreShares Index Tracker Managers (RF) Proprietary Limited CoreShares Global Dividend Aristocrats Share code: GLODIV ISIN: ZAE000254249 A portfolio in the CoreShares Index Tracker Collective Investment Scheme registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002, managed by CoreShares Index Tracker Managers (RF) Proprietary Limited INDEX REBALANCE ANNOUNCEMENT In terms of section 19.28 of the JSE Limited Listings Requirements, notice is hereby given to investors of the above ETF securities that the following changes in the constituents of the underlying index in the table below. Effective Date: 24 June 2019 Index: S&P Global Dividend Aristocrats Blend Index (Custom) Additions Deletions ISIN Share New ISIN Share Previous Weight Weight GB0004065016 Hammerson 0.39% The portfolio composition file can be viewed at www.coreshares.co.za Date of announcement: 24 June 2019 Sponsor Grindrod Bank Limited Date: 24/06/2019 10:25:00 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.

Millennials Disrupt Traditional Business Aspirations

By 2025, millennials will make up 75% of the global workforce and their growing influence on business is rapidly redefining our notion of success. Unlike Baby Boomers, whose aspirations centred around working their way up the corporate ladder, millennials gravitate towards entrepreneurship and the flexibility, innovation, creativity and purpose associated with start-up businesses. This is why they're the most entrepreneurial generation yet, with 66% aspiring to one day start a business of their own, according to a study by Bentley University.

OPINION: PICLancasterSteinhoff: Forego security at your peril

JOHANNESBURG Having cut my professional teeth in the South African derivatives market the Public Investment Corporations facilitation of Lancasters investments in Steinhoff and Pepkor intrigues me. The more and more I go through the transcripts of evidence led on the subject before the Commission of Enquiry of the PIC the more baffled and curious I become.In phase 1 or Project Sierra the PIC provided a loan of R9.35billion to Lancaster SPV a specialpurpose vehicle which was later registered as Lancaster 101 for the acquisition of 2.75percent equity stake in Steinhoff including transactionrelated costs. The loan was secured by shares and insurance through derivative instruments against a share price drop below a certain level.

GLENCORE PLC - GLN: Transactions In own Shares-21 June2019

Wrap Text GLN: Transactions In own Shares-21 June2019 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 June 2019 Transactions in own shares-21 June 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: 21 June 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,500,000 owest price paid per share (GBp): 278.0000 Highest price paid per share (GBp): 282.7000 Volume weighted average price paid per share (GBp): 281.0364 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 900,156,970 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 13,686,043,096. 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 Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volum

As cigarette use slows, potential IP battles for big tobacco grow

As cigarette use slows, potential IP battles for big tobacco grow BY CORINNE GRETLER - 23 June 2019 This picture taken on June 19, 2019 shows a cook smoking a cigarette in Osaka, Japan. Picture: AFP/CHARLY TRIBALLEAU This picture taken on June 19, 2019 shows a cook smoking a cigarette in Osaka, Japan. Picture: AFP/CHARLY TRIBALLEAU Philip Morris International (PMI) is girding itself to fend off rivals that may try to piggyback on the success of its market-leading alternative to smoking. As PMI's IQOS has grown, competitors such as Imperial Brands have started offering sticks that can fit in the electronic devices that heat rather than burn tobacco, even though the packs say they're designed only for the UK company's Pulze system.

JSE set for a cautious start on Monday

Asian markets are mixed as caution prevails ahead of US President Donald Trump and Chinese President Xi Jinping's meeting at the G-20 summit SA stocks are set for a slow start on Monday as caution prevails ahead of highly anticipated trade talks between US President Donald Trump and Chinese President Xi Jinping later in the week. Their meetings, at the upcoming Group of 20 (G-20) summit in Osaka, come amid simmering tensions in the Middle East after Iran shot down a US drone. Trump responded by approving military action against Iran, but shortly after backed down on that plan. "At this juncture, we do not anticipate a meaningful US-China trade deal, but any deal potentially involving a stay on fresh tariffs would be interpreted positively by market players," analysts at Singapore's OCBC Bank said on Monday. "Note that Trump is facing external challenges of China, Iran and North Korea ahead of his 2020 election race, so the pressure may be on to keep all three from boiling over in the interim," the bank said. Asian markets were mixed on Monday, with Hong Kong's Hang Seng index adding 0.2% and the Shanghai Composite edging marginally lower.

Up and Down Rates & Facebook's new Cryptocurrency

The US Fed has left rates unchanged, but signalled that they are prepared to cut rates. On Wednesday the European Central Bank (ECB) surprised the market by signalling an increased likelihood of rate cuts (although rates are already at record lows) and stimulus measure. South Africa's May 2019 CPI inflation rate came out at 4.5% y/y (April 4.4% y/y).

Russia urges closer business ties with Africa

Africa and Russia should harness their immense resources to foster a greater economic future for their people. This is the word from Dimitri Medvedev, chairman of the government of the Russian Federation, speaking at the annual general meeting of shareholders of the African Export-Import Bank (Afreximbank). He notes that Africa and Russia account for half the world's resources.

Why Naspers is backing Facebook's cryptocurrency project

Naspers subsidiary, PayU has joined the Libra Association, which will have an equal say in how the cryptocurrency is managed. Naspers CEO Bob van Dijk believes cryptocurrencies could have a huge and positive impact on societies by allowing for frictionless and costless transfer of value between people, something that doesn't exist in the world of fiat currencies. Speaking to TechCentral following the publication of Naspers's annual results on Friday, Van Dijk said the group, through its subsidiary PayU, is "excited" about working with Facebook and other partners in developing the libra cryptocurrency. Read: PayU is one of about 30 firms that has joined the Libra Association, a group of companies that will have an equal say in how the cryptocurrency is managed.

Does ENSafrica report expose rampant corruption in EOH's goverment contracts?

ENSafrica has concluded its report into troubled technology firm EOH. Photo: Supplied CAPE TOWN - ENSafrica has concluded its report into troubled technology firm EOH, and speculation is rife among insiders that the law firm has made damning findings against the company. The report, which has made findings into governance irregularities in the technology giant, investigated instances of corruption in the company involving various government departments such as eThekwini Municipality, Department of Defence, Water and Sanitation, South African Police Services, among others. A source, who spoke to Independent Media weeks before the finalisation of the ENSafrica report was finalised, alleged there was widespread corruption by EOH officials in eThekwini. Independent Media was reliably informed that the company and its subsidiaries had obtained several lucrative contracts, spanning several years, in the municipality through illicit means. When questions were sent to the company around May 23, the group said it had engaged ENSafrica to conduct an independent investigation into all legacy public sector contracts.

GLOBAL MARKETS-Asian stocks tick up, oil rises amid U.S.-Iran tensions

* Asian stocks up slightly on hopes of Sino-U.S. trade talks * Investors not sure if meaningful deal can be reached * Oil edges up on tensions in the Persian Gulf * Gold near 6-year high on weak dollar, safe-haven bids * Asian stock markets: tmsnrt.rs/2zpUAr4 By Hideyuki Sano and Tomo Uetake TOKYO, June 24 (Reuters) - Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran.

Business Is Bitcoin a security, currency or asset?

How do we define and label cryptocurrencies like Bitcoin? Labels are important in the financial world because they help regulators know how to fit something into the existing framework? - or if they should create a new category. Sensible regulation has the potential to strengthen entire industries, offering greater clarity for law enforcement and protection for investors. It's essential for governments to put adequate controls in place for any disruptive new technology, so it's not used for crime.

Nostrum Oil & Gas reviews business, mulls sale of company

(Adds details on operations, options) June 24 (Reuters) - Nostrum Oil & Gas Plc said on Monday it started a review of its business, which could include a potential sale of the Kazakhstan-focussed oil firm. Nostrum, which produces, develops and explores oil and gas in the pre-Caspian Basin, said in a statement it had not yet received any bids for the company. Other options for the business could include throughput agreements with third party gas suppliers, bolt-on acquisitions in existing and adjacent fields, farming down stakes in some assets to expedite their development, and a corporate deal, Nostrum added. The company, which has a market value of 105.9 million pounds ($135.16 million), reported full-year revenue of $389.9 million and core earnings of $231.2 million in 2018, both marginally lower than the previous year. Last year, Nostrum had to work to stabilise production from two of its wells and complete a gas treatment plant in Kazakhstan while working to improve its balance sheet and tightening cost control as it targeted a ramp-up in production. The company's principal producing asset is the Chinarevskoye field and it is also the operator of the Rostoshinskoye, Darinskoye and Yuzhno-Gremyachenskoye oil and gas fields, located in the pre-Caspian basin to the north-west of Uralsk. Nostrum also said on Monday it would buy 50% of Positive Invest LLP, the owner of the Stepnoy Leopard licences, securing additional undeveloped, material gas condensate resource. ($1 = 0.7835 pounds) (Reporting by Samantha Machado and Noor Zainab Hussain in Bengaluru; Editing by Rashmi Aich) First Published: 2019-06-24 08:22:17 Updated 2019-06-24 08.

‘If You're Not Selling, You Aren't in Business' - Strategies to Get Over Your Fear of Rejection

One of the most common factors that can limit the growth of a business is an entrepreneur's reluctance to sell, says Kevan Wright, a business coach, mentor and workshop facilitator at Fetola Business Development Professionals .  Based on his experience working with entrepreneurs enrolled in the  SAB Foundation's Tholoana Enterprise Programme , a skills development programme; Wright says the two activities avoided most often by business owners are sales and asking for money, even though without these essential activities a business cannot survive - let alone thrive. This is regardless of  how passionate the entrepreneur may be or how much they may believe in their business and its offering, he adds. Wright offers the following insights into why your fear of selling may be holding you back: - What causes the fear of failure - How fear can affect your confidence and impact your business - Possible solutions to help you overcome your anxiety What's behind the fear Although comfortable with the usual rigors associated with entrepreneurship, the prospect of asking somebody to part with their money in exchange for their product or service seems to strike fear into one's core.

South African Markets - Factors to watch on June 24

EOH:   2,006     0 (0.00%)   24/06/2019 00:00 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday. ECONOMIC EVENTS - No major economic data. COMPANIES - Safari Investments Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETS South Africa's rand firmed up slightly on Friday, clawing back some of its losses following President Cyril Ramaphosa's state of the nation address, which some analysts said lacked detail on how he plans to fix the flagging economy. On the bourse, stocks fell, dragged lower by the Ramaphosa disappointment and after the U.S military threatened a strike against Iran, chilling investors already worried by trade tensions between Washington and Beijing. GLOBAL MARKETS Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran. WALL STREET Wall Street edged lower on Friday, as U.S. Vice President Mike Pence's decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, while tensions between the United States and Iran undercut sentiment. GOLD Gold prices advanced on Monday, hovering near a six-year high touched in the previous session, as dovish signals from major central banks and heightened tensions between the United States and Iran boosted demand for the safe-haven metal. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Public Protector probing money laundering linked to President Ramaphosa's campaign funds. - Technology group EOH appoints new board members. BUSINESS REPORT - South Africa, China 93 agreements worth 27 billion rand ($1.89 billion). ($1 = 14.2997 rand) 2019-0

Business Maverick: Blunders - Episode 144: Vestact

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PnP joins metal packaging recycling organisation

PnP joins metal packaging recycling organisation 21ST JUNE 2019 BY: MARLENY ARNOLDI CREAMER MEDIA ONLINE WRITER SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ Supermarket group Pick n Pay (PnP) has signed up as a member of MetPac-SA, a producer responsibility organisation representing the metal packaging recycling industry in South Africa. MetPac-SA CEO Kishan Singh this week applauded PnP's decision to support the local metal packaging industry's efforts to increase the collection and recovery rates of aluminium cold drink cans, canned food packaging made from aluminium and stainless steel, as well as aluminium foil products, aerosol cannisters, metal caps and closures. ADVERTISEMENT "As a leading retailer, we are committed to reducing our impact on the environment and encourage our suppliers and customers to join us on the journey. "We believe it is important to support organisations such as MetPac-SA, who are focused on establishing a circular economy by treating waste as a valuable resource that can be used to address economic, social and environmental challenges," PnP sustainability GM Andre Nel noted. ADVERTISEMENT South Africa's metals packaging collection rate is an estimated 75.8%, but the industry has set itself the task of increasing this figure to 79% by 2021 and 81% by 2023. MetPac-SA also recently welcomed Woolworths as a member, joining other members such as AB InBev, Coca-Cola, Distell, Heineken, Hulamin, Nampak, Nestle, Pack Solve, Dürsots and Wyda SA. .

Motorcyclist injured after landing in ditch

Sunday afternoon Netcare 911 responded to reports of a collision on Aureole Avenue in North Riding Randburg. Reports from the scene indicate that a male teenager offroad motorcyclist landed in a ditch behind a ramp at a motorcross track. The patient was assessed on scene by medics and found to have sustained moderate injuries.

WeWork to open in Cape Town

WeWork, a shared workspace company with over 466,000 members, is opening in Cape Town - its second city in South Africa. In Cape Town, WeWork will be take four floors of the eleven floors at 80 Strand on a long lease agreement that includes the option to take up more space in future. It is set to open in Q4 this year.

South African Markets - Factors to watch on June 24

EOH:   2,006     0 (0.00%)   24/06/2019 00:00 The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday. ECONOMIC EVENTS - No major economic data. COMPANIES - Safari Investments Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETS South Africa's rand firmed up slightly on Friday, clawing back some of its losses following President Cyril Ramaphosa's state of the nation address, which some analysts said lacked detail on how he plans to fix the flagging economy. On the bourse, stocks fell, dragged lower by the Ramaphosa disappointment and after the U.S military threatened a strike against Iran, chilling investors already worried by trade tensions between Washington and Beijing. GLOBAL MARKETS Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran. WALL STREET Wall Street edged lower on Friday, as U.S. Vice President Mike Pence's decision to defer a speech on China policy increased optimism on upcoming trade talks between Washington and Beijing, while tensions between the United States and Iran undercut sentiment. GOLD Gold prices advanced on Monday, hovering near a six-year high touched in the previous session, as dovish signals from major central banks and heightened tensions between the United States and Iran boosted demand for the safe-haven metal. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Public Protector probing money laundering linked to President Ramaphosa's campaign funds. - Technology group EOH appoints new board members. BUSINESS REPORT - South Africa, China 93 agreements worth 27 billion rand ($1.89 billion). ($1 = 14.2997 rand) 2019-0

CORESHARES INDEX TRACKER MANAGERS (RF) PROPRIETARY LIMITED - Index Rebalance Announcement

Wrap Text Index Rebalance Announcement CoreShares Index Tracker Managers (RF) Proprietary Limited CoreShares Equal Weight Top 40 Share code: CSEW40 ISIN: ZAE000217139 A portfolio in the CoreShares Index Tracker Collective Investment Scheme registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002, managed by CoreShares Index Tracker Managers (RF) Proprietary Limited INDEX REBALANCE ANNOUNCEMENT In terms of section 19.28 of the JSE Limited Listings Requirements, notice is hereby given to investors of the above ETF securities that the following changes in the constituents of the underlying index in the table below. Effective Date: 24 June 2019 Index: FTSE/JSE Equally Weighted Top 40 Additions Deletions ISIN Share New ISIN Share Previous Weight Weight ZAE0000084992 Exxaro Resources 2.50% ZAE000004875 Netcare Ltd 1.69% The portfolio composition file can be viewed at www.coreshares.co.za Date of announcement: 24 June 2019 Sponsor Grindrod Bank Limited Date: 24/06/2019 10:20:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

Vodacom Group to sell its Angolan operations and assets

Vodacom Group announced that it has entered into an agreement with Internet Technologies Angola (ITA), one of the largest independent network providers in Angola. The deal set out requires ITA to purchase Vodacom Business Africa's Angolan operations and assets. The two entities are in the process of concluding the agreements, which are subject to the approvals of the regulatory authorities within these markets.

SA Rugby Youth Weeks kick-off today in White River

Rob Ferreira High School in White River will play host to two of the most anticipated Youth Weeks on the SA Rugby calendar for the next week when 38 teams will take to the field in the U13 SA Rugby Craven Week and U16 SA Rugby Grant Khomo Week. The 14 provincial unions will each have a team in the U13 Craven Week, with Limpopo Blue Bulls and Border Country Districts added in addition to the national teams from Namibia and Zimbabwe to make up an 18-team playing schedule. Teams will play matches on Monday, Tuesday, Thursday and Friday.

South African Markets - Factors to watch on June 24

© Reuters. South T The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday. ECONOMIC EVENTS - No major economic data. COMPANIES - Safari Investments SARJ.J Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETSSouth Africa's rand firmed up slightly on Friday, clawing back some of its losses following President Cyril Ramaphosa's state of the nation address, which some analysts said lacked detail on how he plans to fix the flagging economy. On the bourse, stocks fell, dragged lower by the Ramaphosa disappointment and after the U.S military threatened a strike against Iran, chilling investors already worried by trade tensions between Washington and Beijing. .J ZAR/ GLOBAL MARKETS Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S.

5 things you need to know in SA business today and why Boris Johnson's extraordinary leap to power could soon come crashing

1. Ahead of his State of Nation address being debated in parliament this week, president Cyril Ramaphosa's presidential campaign finances may be under investigation, the  Sunday Times reported yesterday. The public protector Busisiwe Mkhwebane is apparently investigating Ramaphosa for alleged money-laundering related to donations of more than R400m to his ANC presidential campaign.

The Mpumalanga Show is here

The much-anticipated Mpumalanga Show starts this week and the city is primed to bring you an even bigger and more diverse event this year. Organisers have invited the Wildlife College, EcoTraining, universities and other training providers, South African National Parks, Mpumalanga Parks Board, as well as game farmers, game farms and game lodges, to be part of this auspicious event and proven communication platform. Mining and energy will also be introduced this year, adding to the excitement and opportunities that will unfold with the new partnerships that will be created.

BRIEF-Tsogo Sun Holdings Announces Placing Of Ordinary Shares

June 24 (Reuters) - Tsogo Sun Holdings Ltd TSHJ.J : * PLACEMENT OF TSOGO SUN HOTELS ORDINARY SHARES * IN TERMS OF PLACING, UP TO 29.6 MILLION SHARES WILL BECOME AVAILABLE FOR SALE TO QUALIFYING INSTITUTIONAL INVESTORS * BOOKS OF PLACING WILL OPEN WITH IMMEDIATE EFFECT.

PPC forecasts rock-solid results

The cement producer says debt is down and headline earnings will be at least a third higher. PPC's shares jumped as much as 9.7% on Friday after it told shareholders that its full-year profit would rise by at least a third. In a trading statement, the cement producer said earnings before interest, tax, depreciation and amortisation (EBITDA) for the year to end-March would be flat to 7% higher than the R1.88 billion it reported last year.

Naspers delays Euronext listing after postage blunde

The group now expects to list its international internet assets on Euronext Amsterdam in September. Naspers has delayed the listing of its international internet assets on the Euronext Amsterdam stock exchange after an external service provider labelled a circular to shareholders incorrectly. The circular included a notice to shareholders convening a general meeting next Friday to approve the listing.

GLOBAL MARKETS-Asian stocks subdued, oil rises on U.S.-Iran tensions

* Asian stocks up slightly on hopes of Sino-U.S. trade talks * Investors not sure if meaningful deal can be reached * Oil edges up on tensions in the Persian Gulf * Gold at 6-year high on weak dollar, safe-haven bids * Asian stock markets: tmsnrt.rs/2zpUAr4 By Hideyuki Sano TOKYO, June 24 (Reuters) - Asian shares were off to a cautious start on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations while oil prices firmed on worries over heightened tensions between the United States and Iran.

Life Healthcare raises R3.7bn through Indian divestment

Private hospital group sells 49.7% stake in Max Healthcare Institute to Radiant Life Care Private hospital group Life Healthcare says it raised about R3.7bn by selling its investment in India. The group's sale of its 49.7% stake in Max Healthcare Institute, to Radiant Life Care, became effective on Friday, it said in a statement on Monday. Radiant paid 80 rupees ($1.15) per share, which equates to about R3.7bn of net proceeds after costs, hedges and taxes, Life Healthcare said. Profit on disposal amounted to about R900m. "The company will utilise the funds received to settle debt," it said. Life Healthcare said in May it was also reviewing its Polish operations, which have been hurt by steep tariff cuts from that country's government. In Poland, Life Healthcare owns the Scanmed hospital group and provides diagnostic services through Alliance Medical. "It [Scanmed] has had quite an unfortunate time of late," Life Healthcare CEO Shrey Viranna said at the time. The Polish business reported a 30% fall in normalised earnings before interest, tax, depreciation and amortisation (ebitda) in the six months to end-March. Life Healthcare's half-year group revenue rose 9.5% to R12.4bn, although interim profit after tax fell 46.9% to R498m.

OPINION: PIC/Lancaster/Steinhoff: Forego security at your peril

JOHANNESBURG - Having cut my professional teeth in the South African derivatives market, the Public Investment Corporation's facilitation of Lancaster's investments in Steinhoff and Pepkor intrigues me. The more and more I go through the transcripts of evidence led on the subject before the Commission of Enquiry of the PIC the more baffled and curious I become. In phase 1 or Project Sierra the PIC provided a loan of R9.35billion to Lancaster SPV, a special-purpose vehicle, which was later registered as Lancaster 101 for the acquisition of 2.75percent equity stake in Steinhoff, including transaction-related costs.

South African Markets - Factors to watch on June 24

© Reuters. South T The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Monday. ECONOMIC EVENTS - No major economic data. COMPANIES - Safari Investments SARJ.J Full Year 2019 Earnings Release. SOUTH AFRICAN MARKETSSouth Africa's rand firmed up slightly on Friday, clawing back some of its losses following President Cyril Ramaphosa's state of the nation address, which some analysts said lacked detail on how he plans to fix the flagging economy. On the bourse, stocks fell, dragged lower by the Ramaphosa disappointment and after the U.S military threatened a strike against Iran, chilling investors already worried by trade tensions between Washington and Beijing. .J ZAR/ GLOBAL MARKETS Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S.

LIFE HEALTHCARE GROUP HOLDINGS LIMITED - Conclusion of the disposal of interest in Max Healthcare Institute Limited

LHC 201906240002A Conclusion of the disposal of interest in Max Healthcare Institute Limited 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 Company') CONCLUSION OF THE DISPOSAL OF INTEREST IN MAX HEALTHCARE INSTITUTE LIMITED Further to the announcements released on the Stock Exchange News Service on 20 September 2018 and 7 January 2019, shareholders are advised that Life Healthcare International Proprietary Limited (a wholly owned subsidiary of the Company) and Radiant Life Care Private Limited (‘Radiant'), have concluded the share purchase agreement (‘Agreement') entered into on 24 December 2018, with the fulfilment of all conditions precedent to the Agreement and receipt of the sale proceeds. Through the successful conclusion of this transaction, Radiant has acquired the 49.7% stake held by Life Healthcare International Proprietary Limited in Max Healthcare Institute Limited, with effect from 21 June 2019. In terms of the Agreement, Radiant acquired the 49.7% stake for 80 Rupees per share, which equates to approximately R3.7 billion of net proceeds received after costs, hedges and taxes. This has resulted in a profit on disposal of approximately R900 million. As communicated previously to shareholders, the Company will utilise the funds received to settle debt. Illovo 24 June 2019 Sponsor: RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 24/06/2019 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.

Life Healthcare subsidiary concludes share purchase deal with Radiant

JOHANNESBURG, June 24 (ANA) - The second largest private hospital operator in South Africa, Life Healthcare, said on Monday its subsidiary Life Healthcare International and Radiant Life Care had concluded a share purchase agreement with the fulfilment of all conditions and receipt of the sale proceeds..

UPDATE 1-Nostrum Oil & Gas reviews business, mulls sale of company

(Adds details on operations, options) June 24 (Reuters) - Nostrum Oil & Gas Plc said on Monday it started a review of its business, which could include a potential sale of the Kazakhstan-focussed oil firm. Nostrum, which produces, develops and explores oil and gas in the pre-Caspian Basin, said in a statement it had not yet received any bids for the company. Other options for the business could include throughput agreements with third party gas suppliers, bolt-on acquisitions in existing and adjacent fields, farming down stakes in some assets to expedite their development, and a corporate deal, Nostrum added.

Business Maverick: Monday, July 24: Five Things You Need to Know to Start Your Day

Sanctions on Iran, a blow to Turkey's Erdogan, and a mixed start seen for markets. Here are some of the things people in markets are talking about today. Iran Plan The U.S. will impose major new  sanctionson Iran  Monday, days after President Donald Trump abruptly called off airstrikes against the Islamic Republic.

Business Maverick: Eskom's Gain Is South Africa's Pain as Investors Balk at Debt

South African President Cyril Ramaphosa told lawmakers last week South Africa would  bring forward  part of the 230 billion rand ($16 billion) earmarked for Eskom over the next 10 years. The Treasury hasn't budgeted for additional support over and above the 23 billion rand allocated in February for this and each of the next two years. "Additional front-loaded support will mean an increase in bond issuance as revenue and cost-cutting measures are currently insufficient to fund Eskom's support," said Mike van der Westhuizen, a portfolio manager at Citadel Holdings Ltd.

PE Business News: Greenacres Lodge

PE : Greenacres Lodge : Promote your business on BuyPE and MyPR. Greenacres Lodge: With a stay at Greenacres Lodge in Port Elizabeth, you'll be within a 15-minute walk of … Eligible Qantas hotels excludes Classic Hotel Rewards. A business must be a Qantas Business Rewards Member … Source: "Port Elizabeth" business - BingNews.

Wits Business School: Developing a new generation of master coaches

Dr Jabulile Msimango-Galawe is a rare kind of teacher: an entrepreneur who decided to become a business coach to help other entrepreneurs avoid the unnecessary mistakes that she had made. Not only that, but she pursued a doctorate in the field of entrepreneurship in her quest to find answers to the perplexing problem of why so many start-ups fail. "I became a business coach because my first business failed after six years of operation. The failure left me with scars and made me go search for answers, which led me to do my PhD.

African Markets - Factors to watch on June 24

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - EVENTS: *Rwanda receives five black rhinos from European parks GLOBAL MARKETS Asian shares edged up on Monday as investors pinned their hopes on any signs of a thaw in Sino-U.S. trade negotiations, while oil prices firmed on heightened tensions between the United States and Iran. MKTS/GLOB WORLD OIL PRICES Oil prices climbed on Monday as tensions remain high between Iran and the United States, with U.S.

Anglo's seen the future of mining, and it looks a lot like farming

The sector has to clean up its act while still making a profit - and it's a race the group intends to win. We previously looked at the history of Anglo American, but what of its future? Read: Anglo American through the ages Addressing analysts in London recently, Anglo technical director Tony O'Neill outlined a vision of the future where mines will be similar to farms. Virtually all mining activity, including the extraction of minerals, leaching and processing will take place below ground. Rock cutting will be done without vibration and only material of value will be brought to the surface.

Naspers delays going Dutch

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Cross-border financial planning

A multitude of aspects needs to be considered - preferably well ahead of time. For many South Africans, their wealth is no longer a purely local matter. Whether they are investing offshore, working out of the country, or looking to emigrate, their finances are crossing borders. "South Africans are becoming quite global," says Mike Abbott, director of Sable Wealth.

?Fat pitches offer a way to big riches - ask Allan Gray

In researching my " How To Invest Like Warren Buffett " book, I was introduced to what the Oracle of Omaha describes as the fat pitch. Using an analogy from baseball, Buffett says a few times in every investor's life, an opportunity will arise to proverbially hit the ball out the park. Fat pitches arrive unexpectedly.