Old Mutual Mulls Over $12.8 Billion Breakup Into New Firms: Report
The Anglo-South African financial-services company reportedly is working on a plan to divide itself into stand-alone firms based on its stake in the lender Nedbank Group Ltd. and other attractive assets.
China's Bank of Communications In $8.9B Share Offering
Bank of Communications Co., Ltd. (BoCom) will raise $8.9 billion in a share sale to current shareholders like HSBC and the Chinese Ministry of Finance. The bank's shares were suspended on Thursday in advance of the announcement.
S.Africa's rand firms, bonds weak on rates outlook
South Africa's government bonds were weaker on Friday as the market priced out the chance of a rate cut after a hawkish monetary policy statement while the rand jumped against the dollar as global sentiment turned pro-risk.
SAfrica cbank holds rates, targets inflation
South Africa's Reserve Bank held interest rates on Thursday, choosing to focus on rising inflationary pressures in preference to propping up a sluggish domestic economy as uncertainties clouded the country's future rate path.
S.Africa's rand turns softer, bonds also weaker
South Africa's rand turned weaker against the dollar in late Johannesburg trade, giving back earlier slight gains as fears of trade wars between China and the United States rattled investors already jumpy over European debt woes.
S.Africa's rand slides vs dollar, bonds fall
South Africa's rand fell as much as 2 percent against the dollar on Tuesday, breaching 8.0 in thin volumes that exaggerated its moves, before clawing back ground as some players found themselves oversold on the currency.
S.Africa taps investment banker as bank regulator
South Africa has tapped the head of risk management at a local investment bank as its next banking regulator, the central bank said in a statement on Thursday.
FirstRand profit up 22 pct, pays special dividend
FirstRand, South Africa's second-biggest bank, posted a 22 percent rise in full-year earnings, buoyed by a sharp drop in bad debts, and said it would pay a special dividend.
Intelsat New Dawn Satellite Launch Rescheduled for April 22 (FULL TEXT)
Intelsat S.A., the world’s leading provider of fixed satellite services, announced today that the launch of Intelsat New Dawn has been rescheduled to Friday, April 22 at 5:37 p.m. (EDT). The satellite, loaded on an Ariane 5 rocket, will be launched from the Spaceport in Kourou, French Guiana.
S.Africa yield spread at record high, stocks gain
South Africa's government bond curve steepened again on Monday with the yield spread between shorter and longer-dated debt hitting a record high as dealers positioned ahead of a debt auction on Tuesday.
Long-term S.Africa bonds rise after week of losses
Long-term South African bonds rose on Friday after a four-day sell-off fuelled by the government's disappointing budget deficit forecast for next fiscal year.
S.Africa Q4 GDP beats forecasts on mines, agriculture
South Africa's economic growth came in higher than expected in the fourth quarter, boosted by stronger growth in the mining and agricultural sectors, according to data released on Tuesday.
S.Africa's rand steady against dollar, stocks gain
South Africa's rand was little changed from last week's closing levels against the dollar on Monday, with central bank intervention helping stem gains in the currency despite support from stronger commodity prices.
Kenya wind power plan gets government's support letters
Plans for a delayed 300 MW wind farm in Kenya can now proceed after lenders agreed to rely on the government's assurance that it backed the plan, instead of proper guarantees, the chairman of the project said.
AFD Loans $50.1M to S. African Bank for Housing
The French Development Agency (AFD) signed a subsidized loan agreement on Wednesday with top South African bank, Nedbank, for $50.1 million (â‚¬40 million) to provide housing loans for low-income households.
Old Mutual profit climbs on Skandia
South Africa's largest insurer, Old Mutual, met forecasts with a 36 percent increase in first half profit