Economy

SA appoints investment team

South African President Cyril Ramaphosa appointed a team of business and finance experts on Monday to hunt the globe for R100 billion ($8 billion) in investment to boost the ailing economy.

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Mozambique must share debt responsibility: President

Mozambique will assume responsibility for debt incurred by previous administrations, but there needs to be a shared responsibility by those providing the loans, the country’s President Filipe Nyusi said on Tuesday.

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Tokyo stocks end flat as traders await US-Japan summit

Tokyo stocks closed flat Tuesday in sluggish trading as investors retreated to the sidelines to await the outcome of a United States-Japan summit expected to be dominated by trade tensions and North Korea.

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US bans companies from doing business with ZTE

The United States Department of Commerce has banned American companies from selling components to Chinese telecom equipment maker, ZTE Corp, for seven years after breaking an agreement.

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Libya investigating ways to recover loans to Africa

Libya's Presidency Council’s Ministry of Finance and the Libyan Foreign Bank (LFB) are considering various ways the North African country can recover ‘‘faltering’’ loans to African countries.

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Eskom facing coal shortages at 7 power plants

South African power utility Eskom, which is battling to recover from a financial and leadership crisis, said on Tuesday that it was facing coal shortages at seven power stations.

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Zimbabwe in tight timeline to repay arrears

Zimbabwe stuck on its plan to clear its debt arrears by September with the aim to tap international capital markets by the end of the year, though that timeline would be “very fast-tracked.”

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Lamberti resigns from Business Leadership SA board

Embattled business executive, Mark Lamberti, on Monday resigned from the Board of Business Leadership South Africa (BLSA).

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SA President appoints Economic Advisor

South African President, Cyril Ramaphosa, on Monday named Trudi Makhaya as his economic advisor.

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Eskom seeks for recover costs through higher tarrifs

South African state utility Eskom is seeking to recover R66.6 billion ($5.5 billion) of costs incurred over the past three years through higher tariffs, saying it sold less electricity than forecast because of an economic downturn.

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