Economy

VTB in talks to prolong Angola's loan

Russia's VTB is in talks with Angola on changing the terms of, and extending, a $1.5 billion loan, the bank's Chief Executive Andrey Kostin told Reuters in an interview.

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Steinhoff to place shares in PSG Group

South African retailer, Steinhoff, plans to sell about $620 million of shares in investment firm PSG Group as it scrambles to plug a liquidity gap after it disclosed "accounting irregularities".

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Asia markets muted as traders take stock from latest rally

Asian equities mostly fell Monday after last week's rallies, while the dollar suffered fresh losses and the euro was boosted by hopes Chancellor Angela Merkel will be able to form a new German government.

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Nigeria's central bank won't hold interest rate meeting

Nigeria's Central Bank said on Monday a key interest rate setting meeting intended for January 22-23 will not be held due to an inability to form a quorum, adding that the benchmark rate will be maintained at 14%.

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France to host 140 world CEOs for pre-Davos summit

Nearly 140 chief executives from companies around the world will gather at the Versailles Palace outside Paris on Monday, as the French government steps up its efforts to attract more foreign investors.

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Lonmin reports 65% fall in 2017 profit

Platinum miner Lonmin reported a 65% drop in 2017 profit on Monday as the company took a $1.1 billion impairment charge after a business review.

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Oil rises on Saudi comments

Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that co-operation between oil producers who are currently withholding supplies would continue beyond 2018.

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Global stocks sag after US government shutdown

United States stock futures, Asian equities and the Dollar pulled back slightly on Monday after the US government was forced to shut down amid a dispute between President Donald Trump and Democrats over immigration.

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SA serious about growing economy: Minister

South Africa's Finance Minister, Malusi Gigaba, says government’s decisive action at Eskom is aimed at showing investors that South Africa is serious about growing its economy.

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Drought, pests threaten Malawi’s maize crop

A dry spell and worsening pest infestation are threatening Malawi's staple maize crop, prompting President Peter Mutharika on Friday to call on government officials to lead prayers for rain.

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