Economy

Zambia's tax collection jumps, easing debt pressure

Zambia collected 26% more tax in the first half of this year compared with the same period a year ago, easing some pressure on the financially-strained copper producer, the revenue collection agency said on Thursday.

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Tunisia tourism revenues jump as tourists return

Tunisia’s tourism revenues grew by 40% in the first half of 2018 compared to the same period last year, the government said Thursday, driven by a strong return of European tourists three years after they were targeted in militant attacks.

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SA mining production down

South Africa's mining production declined by 2.6 % year-on-year in May, Statistics South Africa said on Thursday.

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Stanbic first bank in Zambia to receive insurance brokers' license

Stanbic has become the first bank in Zambia to receive an insurance brokers’ license from the Pensions and Insurance Authority (PIA).

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UK publishes Brexit plan that sparked rebellion

The British government published its long-awaited Brexit blueprint Thursday that it hopes will restart talks with the EU, but its launch was mired in farce after a protest by MPs briefly suspended a sitting of the House of Commons.

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SA manufacturing output tempers recession fears

South Africa’s manufacturing output rose again in May after a disappointing first quarter as production of motor vehicles and durable consumer goods increased, offering hope the economy will avoid slipping into recession.

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Old Mutual appoints Deloitte as joint auditor

South African insurer, Old Mutual, has appointed Deloitte as joint auditor alongside scandal-hit KPMG, it said on Thursday, an unusual move reflecting what it said were unresolved challenges related to its sole auditor for nearly two decades.

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SA cane growers hit hard by sugar tax

The sugar industry’s annual sales have declined by 27 % as a result of the Health Promotion Levy (HPL), commonly called the sugar tax and imported sugar.

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Dubai warns of action against China on Djibouti trade zone

Dubai threatened on Thursday to take legal action against China for building an international free trade zone in Djibouti on a terminal disputed with the strategic Horn of Africa nation.

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Rand firmer ahead of mining, manufacturing data

South Africa’s Rand gained on Thursday, reversing the previous session’s slide, as some traders picked up the currency at the current level, assuming the trade conflict between the United States and China would lead to another spell of risk avers

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