News
U.S. sub sinks Iranian warship, Hegseth says; Bessent vows to protect Gulf oil trade
34+ min ago (1811+ words) The U.S. will provide measures to stabilize oil shipments in the Gulf, Treasury Secretary Scott Bessent said on Wednesday. Speaking on CNBC's Squawk Box, Bessent said the administration will make a series of announcements on energy transport in the region. Israel…...
South African markets recover some ground after selloff
1+ hour, 25+ min ago (191+ words) JOHANNESBURG, March 4 (Reuters)South Africa's stocks, government bonds and rand recovered some ground on Wednesday after the previous day's steep selloff triggered by the conflict in the Middle East. At 1232 GMT, the rand traded at 16.3975 against the dollar, up about…...
South African financiers develop $122 million water conservation bond
1+ hour, 38+ min ago (173+ words) CAPE TOWN, March 4 (Reuters)South African financiers are preparing a 2 billion rand ($122 million) bond to fund water conservation projects dedicated to restoring strategic water catchments. Backed by Rand Merchant Bank (RMB) and the Development Bank of Southern Africa (DBSA), the…...
S. Africa first-quarter business confidence climbs but risk from Middle East conflict looms
2+ hour, 34+ min ago (206+ words) March 4 (Reuters)South African business confidence climbed 3 points in the first quarter, helped by a stable government, supportive interest rate environment and foreign exchange rate tailwinds, a survey published on Wednesday showed, while warning that the Middle East conflict could…...
IMF Kenya visit not expected to yield lending deal, finance minister says
2+ hour, 39+ min ago (194+ words) NAIROBI, March 4 (Reuters)Kenya does not expect an ongoing International Monetary Fund staff visit to yield a lending programme at this stage, its finance minister said on Wednesday, with talks currently focused on more technical details. The team from the…...
Middle East tensions: Pangea Risk flags Africa's $90bn debt overhang
7+ hour, 55+ min ago (379+ words) Middle East tensions: Pangea Risk flags Africa's $90bn debt overhang'CNBC Africa Middle East tensions: Pangea Risk flags Africa's $90bn debt overhang - Africa faces $90 billion in debt maturities and servicing costs by 2026. - Middle East tensions could affect oil prices, inflation, and delay supply…...
China's Chery to launch iCAUR brand in May in South Africa
8+ hour, 40+ min ago (151+ words) JOHANNESBURG, March 4 (Reuters)Cherywill launch its iCAUR V23 electric sports utility vehicle brand in South Africa in May, it said late Tuesday, as China's largest car exporter pursues sales growth in new markets. The company's push into South Africa with a…...
South Africa's Woolworths earnings rise on festive season sales
8+ hour, 42+ min ago (190+ words) Headline earnings per share rose to 167.4 cents in the 26 weeks ended December 28 from 152.8 cents in the prior period.Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose 3.2% to 4.6 billion rand ($277.27 million). "The group's interim results reflect the ongoing progress…...
Middle East tensions: Why Nigeria's industrial policy matters now
9+ hour, 33+ min ago (149+ words) Tensions in the Middle East is taking a new twist as President Donald Trump says the US will provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz, intending…...
SA's R40bn hemp industrialisation opportunity
10+ hour, 43+ min ago (429+ words) SA's R40bn hemp industrialisation opportunity'CNBC Africa SA's R40bn hemp industrialisation opportunity - More than 1,700 hemp cultivation permits have been issued in South Africa since 2022. - The global demand for hemp is projected to surge from $10 billion in 2023 to $37 billion by 2032. - The industry is hampered…...