Diversified miner African Rainbow Minerals yesterday reported an 80% fall in first-half headline earnings, hit by lower commodity prices and a strong rand against the US dollar. ARM, which has interests in nickel, coal, iron ore, platinum, chrome and manganese, said headline earnings per share for the six months to end-December fell to 214 cents […]
Market hails talk of Old Mutual US sale
Speculation that SA’s leading life assurer, Old Mutual , was considering the sale of its US life operations pushed its share price up more than 3,9% to R13,29 yesterday. London-based Old Mutual had hired JPMorgan Chase to consider a sale of the US life business and several possible buyers had been found, the Financial Times […]
Economic recovery gaining traction
SA’s leadin indicator for the business cycle surged in December while the pace of company failures slowed last month, adding to evidence the economic recovery is gathering momentum. The leading indicator compiled by the Reserve Bank climbed 13,9% compared with December, up from 11,8% in November, its data showed yesterday. That suggested official figures today […]
1 March 2010 in Reggio Calabria: video
1st of March: photos of conference in Rosarno
Bertinotti with director of Rosarno’s school, Mrs Russo Fausto Bertinotti, former head of Italian Camera dei Deputati, drinks a rosarnese orange juice Auditorium of “Piria” school in Rosarno “Mamma Africa” with African boys and mom Cristiana from Rosarno Pap Khouma, writer from Senegal Giuseppe Scandinaro, president of Arci association in Rosarno Tito Boeri, economist Pap […]
AfReports Nigeria Leadership Prospect
This video show some points of view about what Nigeria needs from its leaders to grow and prosper
S. Africa: manufacturing and financials grow GDP
The economy grew faster than expected in the fourth quarter of 2009, boosted by a continued bounce in manufacturing and a return to growth in the financial sector. Statistics SA said GDP grew by 3.2% in the fourth quarter of last year on a seasonally adjusted and annualised basis, compared with an expansion of 0.9% […]
Banks in Africa seek 1bn from ADB’s trade initiative
The African Development Bank (ADB) has received applications from regional financial institutions for about 1bn of trade finance since launching its new facility a year ago to stimulate African trade flows after the global financial crisis. “By providing liquidity and sharing risk with African financial institutions, the trade finance initiative will facilitate Africa’s exports and […]
S.Africa: political risk ranks as top concern for banks
Political risk has replaced financial risk as the number one fear facing the global banking industry, according to the annual global Banking Banana Skins survey. Credit risk was the second- biggest concern among respondents and the biggest issue in emerging market economies. The survey, which also polled six bankers in SA, is based on the […]
South Africa retains its position on IPRI
According to the 2010 International Property Rights Index (IPRI) released today, South Africa has retained its position at number 24 out of 125 countries measured. The index is prepared annually from a study conducted by a Hernando de Soto, Fellow at the Washington-based Property Rights Alliance. It is supported by 62 partner organisations worldwide, including […]