Economy

Rand retreats ahead of lending rates decision

South Africa's Rand opened weaker on Thursday, stepping back from a recent rally as traders cleared positions ahead of a lending rates decision by the central bank later in the session.

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SA power utility tables wage increase options to unions

The National Union of Metalworkers of South Africa (Numsa) says power utility, Eskom, gave them two wage agreement options which they will take to their members for final decision.

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Unilever sales, profits slump as London move looms

Anglo-Dutch consumer giant, Unilever, on Thursday revealed a drop in both sales and profits in the first half of 2018, saying markets remained "challenging" as it makes moves to leave its London base.

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Universal Music Group to open Nigeria division

The music entertainment group said on Tuesday its new strategic division, Universal Music Nigeria, will operate from Nigeria’s commercial capital Lagos.

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Nigeria opens light rail line to passengers

Nigeria has opened a new Chinese-built light railway network in the capital Abuja after 11 years of construction, a rare transport project in a nation where economic growth has been stymied for generations by a lack of infrastructure development.

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Alphabet to deploy balloon Internet in Kenya with Telkom in 2019

Alphabet Inc's Loon said on Thursday it would deploy its system of balloons to beam high-speed Internet access with Telkom Kenya from next year to cover rural and suburban populations, marking its first commercial deal in Africa.

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Tokyo stocks snap four-day winning streak

Tokyo stocks edged down on Thursday, snapping a four-day winning streak, as investors locked in profits.

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Inflation rises to 4.6% in SA

SA consumer inflation increases in June

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Ghana's economy seen up after data overhaul

Ghana’s economy will be up to 40% bigger than previously calculated when the West African country completes an overhaul of its economic output data in September, two senior government officials told Reuters on Wednesday.

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Libya state oil company shuts terminal after attack

Libya's state oil company said on Tuesday that it has halted crude exports at its Zawiya terminal due to falling production after an attack in which four workers were kidnapped.

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