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Reuters

Treasury turmoil sends rand to one-year low

13th November 2017 South Africa's rand tumbled more than 1% and the risk premium on government bonds soared on Monday over news of a top Treasury official resignation, financial woes at the sole power utility and political jostling in the ruling party. A report by a presidential commission that government raise... 

Japan aluminium industry may consider crafting quality assurance guidelines after Kobe Steel scandal

13th November 2017 Japan's aluminium industry may consider crafting sector-wide quality assurance guidelines if it gets requests from member companies to do so in the wake of the data fabrication scandal that has engulfed Japan's Kobe Steel, the head of Japan's aluminium industry association said on Monday. Mitsuru... 

Eskom not insolvent but facing cashflow trouble

13th November 2017 South Africa's scandal-plagued power utility Eskom said on Monday it was not insolvent but was facing serious liquidity issues and would be in "trouble" if the situation persisted. "We are not insolvent but we are projecting that if we continue along this trajectory we might be in trouble," Eskom... 

Zuma to release report on higher education at midday – presidency

13th November 2017 President Jacob Zuma will release a report into the feasibility of fee-free higher education at midday (1000 GMT) today, the presidency said in a statement on Monday. Reports that Zuma was planning to announce free tertiary education have hurt the rand currency in recent days, as higher education... 

Harmony Gold's Kusasalethu mine hit by wildcat strike

13th November 2017 Harmony Gold's Kusasalethu mine west of Johannesburg has been hit by a wildcat strike triggered by the sacking of six leaders of the AMCU union for their role in a violent stoppage earlier this year, a spokesperson said on Monday. Spokesperson Marian van der Walt said the strike began on Friday... 

Tullow Oil raises FY production guidance on Ghana fields

13th November 2017 Tullow Oil raised its production guidance on Wednesday, aided by higher output from its TEN and Jubilee fields in Ghana. The company now expects full-year West Africa net oil production, including production-equivalent insurance payments, to come in at 85 000 bbl/d to 89 000 bbl/d, compared with... 

Fortescue Metals ends power supply agreement with TransAlta Corp

13th November 2017 Iron-ore miner Fortescue Metals Group Ltd said on Monday it has terminated a power supply agreement with TransAlta Corp for its Port Hedland operations in Western Australia. The miner said in a statement it was not satisfied that TransAlta's obligations under the South Hedland Power Purchase... 

Peugeot launches joint venture to build cars in Algeria

13th November 2017 Peugeot maker PSA Group signed a joint venture with three Algerian partners to launch a manufacturing unit building cars for the Algerian market, it said on Sunday. The French carmaker said it would hold 49% of the joint venture's capital, representing a total investment of around €100-million... 

Botswana coal miner Minergy plans UK listing for 2018

13th November 2017 Botswana coal producer Minergy plans to list in London next year to give it access to a pool of capital that it could tap at a later date to fund its expansion, it said on Friday. CEO Andre Boje told Reuters the company, which is already listed in Botswana, could look to raise around £700 000... 

Zuma says has no plans to announce free education programme yet

13th November 2017 South Africa's President Jacob Zuma has no plans to announce a programme for free higher education until he reviews the report of a commission studying the feasibility of such a programme, his office said in a statement on Sunday. The rand slipped to a one-year low on Friday amid reports Zuma was... 

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