Economy

Gold Fields denies rumours of merger with AngloGold

South Africa’s Gold Fields said on Tuesday that rumours it was looking to merge with rival bullion firm AngloGold Ashanti were “absolutely false” after shares of both companies firmed on speculation of a merger.

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Firm linked to former Steinhoff partner claims it is owed $330 mln

South African retailer International Holdings N.V. said on Tuesday a former partner firm of its European operations claims it is owed about 291 million Euros ($331 million) by the company.

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Uganda deports French, Rwandan MTN executives

Uganda has deported a French and a Rwandan executive from telecoms group MTN, accusing them of planning to compromise national security, police said on Tuesday.

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Australia's competition regulator delays TPG-Vodafone merger decision

Australia's competition watchdog has delayed its decision on whether to approve the $10.68 billion merger of TPG Telecom Ltd and the local arm of Britain's Vodafone Group PLC after raising concerns in December.

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Team SA to brief the media on improving investments at WEF

The South African Delegation at the World Economic Forum (WEF) in Davos, Switzerland, is expected to brief the media later on Tuesday.

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Somalis turn a profit by transforming their scrap plastic

As the rubbish built up on the rubble of Mogadishu’s wrecked streets, Ahmed Abdullahi saw a business opportunity.

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SA economy to grow to in 2019: World Bank

The World bank forecast higher South African economic growth this year compared with the previous year, but warned of risks such as global trade tensions and poor balance sheets of state-owned companies.

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SA’s luxury Oceans Mall to commence construction

Construction of the Oceans Mall, part of the $325 million International Award Winning Oceans Umhlanga Mixed-Use development in Umhlanga, is due to start in February 2019, according to Oceans Umhlanga chairperson, Vivian Reddy.

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Barrick explores options for Zambian copper mine under pressure from taxes

Barrick Gold Corp said on Monday that it was considering all options for Lumwana copper mine in Zambia as the country's proposed new mining taxes would make it challenging to generate adequate returns for all its stakeholders.

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“Wealth of the poor declines by 11%”

A new report released says billionaire fortunes increased by 12% last year or $2.5 billion a day, while the 3.8 billion people who make up the poorest half of humanity saw their wealth decline by 11%.

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