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Reuters

Gigaba calls for criminal probe into KPMG

22nd September 2017 South African law enforcement agencies should investigate KPMG after the global auditor sacked its top management over work done for business friends of President Jacob Zuma, Finance Minister Malusi Gigaba said on Friday. KPMG dismissed its South African division's top management last week... 

Opec says winning battle to curb oil glut

22nd September 2017 Output cuts by Opec and other oil producers are clearing a supply glut that has weighed on crude prices for three years, ministers said at a meeting on Friday to review the pact that expires in March 2018. The Organization of the Petroleum Exporting Countries, Russia and several other producers... 

Nigeria unlikely to cut fuel sulphur level anytime soon – Rainoil

22nd September 2017 Nigeria's efforts to cut sulphur levels in its fuel imports are unlikely to succeed this year, the head of a major Nigerian downstream company told the Platts refining conference in Brussels. The government has delayed its target to slash allowed sulphur on imports to 50 parts per million (ppm)... 

Gold Fields says KPMG still external auditors

22nd September 2017 South African gold mining company Gold Fields said on Friday that KPMG remains its external auditor but it will continue to monitor future developments. "The Gold Fields board of directors has considered the matter and will be closely following future developments in this area. KPMG remain the... 

Kenya Airways asks State to help it with growing competition

22nd September 2017 Kenya Airways has started talks with the government, seeking its help in coping with competition from foreign carriers operating flights to its Nairobi hub, its chairman said on Thursday. The airline, part-owned by the state and Air France-KLM, is restructuring its finances to cut huge debts and... 

Fire disrupts Vale Fertilizantes plant in Brazil

22nd September 2017 A fire disrupted operations at a Vale Fertilizantes plant in Brazil's southeastern state of Minas Gerais on Thursday, the company said. The fire occurred at a water cooling tower for a plant producing sulphuric acid in its Uberaba facility around noon and was under control within an hour, a... 

Brazil miner Votorantim Metais files for New York, Toronto IPO

21st September 2017 Brazil-based mining company Votorantim Metais Holding filed on Thursday for an initial public offering in New York and Toronto, according to a securities filing, which did not signal the pricing or total fundraising expected. Proceeds from the offering would go entirely to the controlling... 

SARB keeps key rate at 6.75%, against expectations

21st September 2017 The South African Reserve Bank (SARB) kept its benchmark repo rate at 6.75% on Thursday, defying market expectations that had predicted a loosening of policy due to easing inflation pressures. Seventeen of 26 economists polled by Reuters had predicted a 25 basis point cut. One had forecast a 50... 

ICE delays takeover of London's silver benchmark to October 2

21st September 2017 ICE Benchmark Administration, a unit of Intercontinental Exchange (ICE), will take over as operator of London's silver benchmark on October 2, a week later than planned, the exchange said on Thursday. Two current participants in the benchmark, Swiss bank UBS and China Construction Bank (CCB), are... 

Zambia State power firm to end emergency power imports next year

21st September 2017 Zambian State power company Zesco expects to end emergency power imports from Mozambique in the first quarter of next year, a senior executive said on Thursday. Zambia's power generation had improved and it will largely manage to meet its electricity requirements, Zesco Director of Transmission... 

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