Economy

Argentina, IMF agree on $50 billion loan

The International Monetary Fund (IMF) agreed with Argentina to a standby loan of $50 billion over a three-year period, Finance Minister Nicolas Dujovne said Thursday.

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Exxon seeks to sell out of Tanzanian gas field

Exxon Mobil is seeking buyers for its stake in a large undeveloped gas field off Tanzania, according to three banking and industry sources, as the company focuses on the development of an even bigger project in neighbouring Mozambique.

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SAA may get lift from a private partner

The South African government on Thursday moved a step closer to opening SAA to partial private ownership saying it had established an oversight committee to look into the possible involvement of a private partner in the national carrier's affairs.

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Mercedes-Benz starts car-subscription service

Daimler AG’s Mercedes-Benz is starting a car-subscription pilot in two United States cities, joining brands from Jeep to Porsche in testing alternatives to traditional vehicle ownership.

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Stats SA notes slight improvement in manufacturing output

Statistic South Africa‘s latest data shows a slight improvement in manufacturing output. Production increased by 1.1% in April 2018 compared with the same period in 2017.

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Sanlam eyeing Egypt, Ethiopia

Sanlam has set its sights on Ethiopia and Egypt as part of an expansion strategy that will see the financial services group expand its footprint to 44 countries in Africa, India, Malaysia, the United Kingdom and Australia.

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Rand slips to five-month lows

The South African Rand’s woes continued on Thursday with the domestic currency trading within a R12.68-R12.99 range to the Dollar, its weakest in five months, still reeling from the detrimental economic data released earlier this week.

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Trade spat looms as Trump heads for hostile G7

Europe and hosts Canada warned United States (US) President, Donald Trump, on Thursday that they will not be intimidated at the G7 summit, despite fears that a trade war will weaken the Western alliance.

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Zimbabwe opposition vows new currency pegged to SA Rand

Zimbabwe's main opposition leader, Nelson Chamisa, vowed on Thursday to revive the country's moribund economy and to introduce a new currency pegged to the South African Rand if he gets elected next month.

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Trump trade clash dooms prospects of G7 consensus

Summits of the Group of Seven powers are often marred by anti-globalist demonstrations in the streets of the host city.

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