Economy

SA’S PPC full-year profit doubles on Zimbabwe and Rwanda operations

South African cement producer PPC on Monday reported a more than two-fold jump in annual earnings, boosted by strong performances in its African operations, particularly in Zimbabwe and Rwanda.

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Somalia, Ethiopia to invest in four ports

Somalia and Ethiopia will jointly invest in four seaports to attract foreign investment to their two countries.

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Audi CEO arrested: VW

Audi Chief Executive, Rupert Stadler ,was arrested on Monday, a spokesperson for parent company, Volkswagen, said.

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Virgin Money joins forces to take on Britain's biggest banks

Mid-sized bank, CYBG, has agreed a 1.7 billion pound ($2.3 billion) all-share deal to acquire Virgin Money, which it said will create Britain’s sixth-largest bank by assets and a stronger challenger to the country’s top four lenders.

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PPC SA full-year profit doubles

South African cement producer, PPC, on Monday reported a more than two-fold jump in annual earnings, boosted by strong performances in its African operations, particularly in Zimbabwe and Rwanda.

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SA traders urged to focus on neighbours

South Africa has lost more than half of its capital-goods share of the market over the last decade, losing out to aggressive competition in markets such as the mining-rich Copperbelt region.

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Clashes at Libya oil sites cause 'catastrophic losses'

Libya's National Oil Company (NOC) said on Monday that it suffered "catastrophic losses" when two storage tanks were destroyed during fierce clashes in the country's northeastern oil crescent.

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Capitec, Nedbank, PIC on shortlist to buy Mercantile Bank

Mercantile Bank Holdings Ltd said on Monday that South Africa's Capitec Bank, Nedbank Group and a consortium including the State pension fund had been shortlisted among its potential buyers.

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Rand firmer, focus on CPI, current account data

South Africa’s Rand firmed slightly early on Monday, pulling away from a six-month low hit in the previous session, with investor focus on consumer price inflation and current account data due later in the week.

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SA public, stakeholders urged to submit suggestions in Mining Charter

South Africa's Mineral Resources Minister, Gwede Mantashe, says following the release of the newly-drafted Mining Charter on Friday, members of the public and other stakeholders have until the end of July to submit suggestions and inputs.

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