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Logistics company invests in facilities

Logistics company Bidvest Panalpina Logistics (BPL) has implemented several large-scale infrastructure development plans at its KwaZulu-Natal-based operations. This includes building a new state-of-the-art chemicals and general cargo warehouse in Mobeni, Durban, and taking over premises in Pinetown for their road freight operations, as well as operating from the new regional facilities at Frosterley Park, in Umhlanga Ridge. "We've been witnessing steady growth in various areas of our business for several years, which required us to readdress capacity issues and ensure that we continue to uphold a solid emphasis on compliance.

GLOBAL MARKETS-Asia stocks gain, dollar sags as Fed reinforces rate cut expectations

* MSCI Asia-Pacific index up 0.3%, Nikkei gains 1% * Dovish views from Fed's Williams (NYSE:WMB) cement rate cut expectations * US yields fall, gold hits 6-year high on US rate cut prospect * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Shinichi Saoshiro TOKYO, July 19 (Reuters) - Asian stocks gained and the dollar sagged on Friday after a top Federal Reserve official all but cemented expectations of a U.S. interest rate cut later this month. New York Fed President John Williams said on Thursday that policymakers need to add stimulus early to deal with too-low inflation when interest rates are near zero and cannot wait for economic disaster to unfold, in a speech read as a strong argument in favour of quick action. comments by Williams made it a virtual certainty the Fed would opt to cut interest rates by 25 basis points (bps) at its July 30-31 policy meeting and also fuelled expectations of an even deeper 50 bp reduction. Financial markets quickly reacted, with futures FF#: at one point pricing in almost 70 percent chance of a 50-basis-point cut at the month-end meeting.

Amplats output from own managed mines down 4% in second quarter

JOHANNESBURG - Anglo American Platinum said on Thursday output from its own managed mines decreased by four percent to 633,600 ounces in the second quarter of 2019, due to lower production from Mogalakwena and Mototolo. Joint venture platinum group metal (PGM) production, excluding Mototolo, decreased by four percent to 228,200 ounces, Amplats said, citing lower volume from Modikwa despite a strong performance from Kroondal. Production guidance for 2019 however remained unchanged at 4.2-4.5 million PGM ounces, the company said.

UPDATE 1-South Africa's rand, bonds rally after central bank cuts rates

(Adds stocks, details, analyst quote) JOHANNESBURG, July 18 (Reuters) - South Africa's rand rallied against the dollar on Thursday and bond yields fell after the central bank cut its main lending rate by 25 basis points in a widely expected move to counter floundering economic growth. At 1600 GMT, the rand was 0.93% higher at 13.8825 per dollar after closing at 14.0125 in previous session. The South African Reserve Bank (SARB) cut rates by 25 basis points to 6.5% in a unanimous decision, its first easing since March 2018, although it struck a cautious tone suggesting future reductions to borrowing costs were not a foregone conclusion despite benign inflation.

Global trade worries weigh down FTSE 100; pub chain Ei surges on deal

* FTSE 100 down 0.5%, FTSE 250 down 0.4% * Pub chain Ei Group up after buyout offer * Investors wary as global trade war risks resurface * ASOS sinks after latest profit alert * Tobacco stocks up after Philip Morris results (Adds company news items, updates share moves) By Shashwat Awasthi and Muvija M July 18 (Reuters) - Britain's FTSE 100 followed other major stock markets lower on Thursday as initial batches of corporate earnings jangled nerves over global growth, while losses for London's mid-cap index were capped by a buyout of pub operator Ei Group. All but two of the blue-chip index's sectors ended in the red as it shed 0.5% - its biggest intraday fall in nearly two weeks, while the mid-cap FTSE 250 lost 0.4%. Among major drags on the main index were oil heavyweights Shell and BP, which tracked a slump in crude prices amid expectation that output would rise in the Gulf of Mexico following last week's hurricane, as well as miners . Bright spots on the index were tobacco giants British American Tobacco and Imperial Brands after U.S. peer Philip Morris reported its sixth consecutive quarter of profit beat. BAT surged 6.1% on its best day in over a decade while Imperial Brands added 2.2%. Slug and Lettuce owner Stonegate Pub Company agreed to buy Ei Group for 285 pence a share, a 38% premium to Wednesday's close, which sent the mid-cap pub chain's stock to its highest in more than a decade. The stock surged nearly 39% and helped fellow mid-cap pub operators Mitchells & Butlers, Greene King, J D Wetherspoon and Marston's rise between 1.3% and 4.2%. TRADE WAR IMPACT Meanwhile, the effects of a protracted China-U.S.

Archive documents reveal the US and UK's role in the dying days of apartheid

Sue Onslow , School of Advanced Study and Martin Plaut , School of Advanced Study It is a quarter of a century since the end of apartheid in South Africa. But it's easy to forget how complex, difficult and violent the birth of full democracy really was. This was particularly true in KwaZulu-Natal, where battles between the African National Congress (ANC) and the mainly Zulu Inkatha Freedom Party (IFP) claimed the lives of as many as 20,000 in the decade between 1984 and 1994.

Malema demands that Zuma gives answers at Zondo commission

Johannesburg EFF leader Julius Malema said everyone should be treated the same when they appeared before the Zondo Commission of Inquiry into state capture.Speaking to journalists in Parliament Malema said everyone implicated in wrongdoing should go testify to the commission."Go there and share information. People must be treated the same" he said adding that he did not care whether it was former president Jacob Zuma or not.He said no matter how much Zuma was hated and people wanted him to go to jail he should be treated the same"No matter we hate and want him in jail he has rights."But Malema had advice for Zuma on how he should conduct himself at the commission."Zuma must answer questions and stop coughing. What he does is to cough and from that he says I dont know.

Muted session for the JSE as central bank cuts rates

The JSE had a relatively muted session on Thursday as it struggled to find direction ahead of the South African Reserve Bank's interest rate decision. Locally, investors had their focus on the interest rate decision from the SARB which was widely expected to follow the footsteps of some of the world's biggest central banks which are now officially in a monetary easing cycle. The SARB's Monetary Policy Committee unanimously decided to reduce the repurchase rate by 25 basis points to 6.5%.

SAB gets go ahead for SA rights to Smirnoff's ready-to-drink brands

The Competition Commission has given a conditional greenlight for SAB to sell its flavoured alcohol brands The Competition Commission has given the conditional go-ahead for SAB, the local subsidiary of AB InBev, the largest beer group in the world, to acquire the SA rights to Smirnoff's ready-to-drink (RTD) brands from Diageo. Diageo, the world's largest producer of spirits, is behind brands such as Johnnie Walker, J&B, Captain Morgan and Smirnoff. It also owns Guinness stout. The deal, which has to be approved by the Competition Tribunal, will see SAB manufacture, market, distribute and sell Smirnoff Storm, Guarana, Spin Cooler, Pine Twist and Berry Twist. The deal does not include Smirnoff vodka.

Rand, bonds rally after central bank cuts rates

The rand rallied against the dollar on Thursday and bond yields fell after the central bank cut its main lending rate by 25 basis points in a widely expected move to counter floundering economic growth. | JOHANNESBURG - The rand rallied against the dollar on Thursday and bond yields fell after the central bank cut its main lending rate by 25 basis points in a widely expected move to counter floundering economic growth.At 1600 GMT, the rand was 0.93% higher at R13.8825 per dollar after closing at R14.0125 in a previous session. The South African Reserve Bank (SARB) cut rates by 25 basis points to 6.5% in a unanimous decision, its first easing since March 2018, although it struck a cautious tone suggesting future reductions to borrowing costs were not a foregone conclusion despite benign inflation. "Current domestic conditions unequivocally favoured the SARB cutting rates, especially with the global macro climate of monetary policy easing meaning any rate cut will likely have a muted impact on South African assets," said market analyst at Monex Simon Harvey. The reaction in the rand was tame by historical standards, he added. Growth in Africa's most industrialised economy contracted by a surprise 3.2% in the first quarter, swelling calls for the bank to do more to support consumer spending and corporate activity. But in a media briefing on Thursday, the bank poured cold water on the long-term impact of lower lending rates, saying the weak economy was linked more to fiscal policies and a rate cut could only have a short term effect. The US Federal Reserve is set to lower rates at its own policy meeting next week, a move likely to spur demand for higher-yielding emerging market assets, although South Africa's now lower lending rate may limit interest. Traders said the rand in the meantime would likely see some increased volatility as investors looked for quick gains. Bonds also crossed a crucial psychological mark, with the yield on benchmark 2026 government bonds dipping below 8% to 7.975%, 5

UPDATE 1-South Africa's rand, bonds rally after central bank cuts...

(Adds stocks, details, analyst quote) JOHANNESBURG, July 18 (Reuters) - South Africa's rand rallied against the dollar on Thursday and bond yields fell after the central bank cut its main lending rate by 25 basis points in a widely expected move to counter floundering economic growth. At 1600 GMT, the rand ZAR=D3 was 0.93% higher at 13.8825 per dollar after closing at 14.0125 in previous session. The South African Reserve Bank (SARB) cut rates by 25 basis points to 6.5% in a unanimous decision, its first easing since March 2018, although it struck a cautious tone suggesting future reductions to borrowing costs were not a foregone conclusion despite benign inflation. domestic conditions unequivocally favoured the SARB cutting rates, especially with the global macro climate of monetary policy easing meaning any rate cut will likely have a muted impact on South African assets," said market analyst at Monex Simon Harvey. The reaction in the rand was tame by historical standards, he added.Growth in Africa's most industrialised economy contracted by a surprise 3.2% in the first quarter, swelling calls for the bank to do more to support consumer spending and corporate activity. But in a media briefing on Thursday the bank poured cold water on the long-term impact of lower lending rates, saying the weak economy was linked more to fiscal policies and a rate cut could only have a short term effect. The U.S. Federal Reserve is set to lower rates at its own policy meeting next week, a move likely to spur demand for higher-yielding emerging market assets, although South Africa's now lower lending rate may limit interest. Traders said the rand in the meantime would likely see some increased volatility as investors looked for quick gains. Bonds also crossed a crucial psychological mark, with the yield on benchmark 2026 government bonds ZAR186= dipping below 8% to 7.975%, 5 basis points lower on the day. Stocks closed higher, with miners, retailers and financial firms, all of which benefit from the intere

South Africa's rand, bonds rally after central bank cuts rates

EXXARO:   17,162     +435 (+2.60%)   18/07/2019 00:00 (Adds stocks, details, analyst quote) JOHANNESBURG, July 18 (Reuters) - South Africa's rand rallied against the dollar on Thursday and bond yields fell after the central bank cut its main lending rate by 25 basis points in a widely expected move to counter floundering economic growth. At 1600 GMT, the rand was 0.93% higher at 13.8825 per dollar after closing at 14.0125 in previous session. The South African Reserve Bank (SARB) cut rates by 25 basis points to 6.5% in a unanimous decision, its first easing since March 2018, although it struck a cautious tone suggesting future reductions to borrowing costs were not a foregone conclusion despite benign inflation. "Current domestic conditions unequivocally favoured the SARB cutting rates, especially with the global macro climate of monetary policy easing meaning any rate cut will likely have a muted impact on South African assets," said market analyst at Monex Simon Harvey. The reaction in the rand was tame by historical standards, he added. Growth in Africa's most industrialised economy contracted by a surprise 3.2% in the first quarter, swelling calls for the bank to do more to support consumer spending and corporate activity. But in a media briefing on Thursday the bank poured cold water on the long-term impact of lower lending rates, saying the weak economy was linked more to fiscal policies and a rate cut could only have a short term effect. The U.S. Federal Reserve is set to lower rates at its own policy meeting next week, a move likely to spur demand for higher-yielding emerging market assets, although South Africa's now lower lending rate may limit interest. Traders said the rand in the meantime would likely see some increased volatility as investors looked for quick gains. Bonds also crossed a crucial psychological mark, with the yield on benchmark 2026 government bonds dipping below 8% to 7.975%, 5 basis points lower on the day. St

Business News - 18 July 2019

As expected, the Sarb cut interest rates by 25 basis points, Asia growth gives Richemont a welcomed boost and Anglo American is on course to meet its full-year targets..

Healing Hennops River for Mandela Day

Many spent Mandela Day cleaning up the polluted Hennops River. Hundreds of volunteers from various departments and companies met at the Royal Elephant Hotel to clean up the river banks of the Hennops River recently. Exxaro resources along with partners for the day included Fresh (NGO), Hennops Blue Horizon, BluSwirl Recycling, Department of Environmental Affairs, KleenHealth South Africa, Department of Water Affairs, Billy the Bin, #GoodGreenDeeds campaign and Mine RP. The Mandela Day clean-up project started off with a prayer followed by various speakers of the different partners involved in the project. The volunteers were spoiled with breakfast coffee and cupcakes; they were equipped with Mandela-day T-shirts, green caps, safety vests, steel bottles, gloves and plastic bags to clean up the polluted river banks. Before the volunteers went off on their cleaning spree, safety tips where shared to ensure everyone was safe while cleaning along the river banks. Katherine Fillmore from Hennops Blue Horizon said there are two polystyrene islands in the river, which is formed by litter and sewage which are washed downstream.

U.K. shares lower at close of trade; Investing.com United Kingdom 100 down 0.60%

Investing.com - U.K. equities were lower at the close on Thursday, as losses in the Chemicals, Oil Equipment Services & Distribution and Electronic & Electrical Equipment sectors propelled shares lower. At the close in London, the Investing.com United Kingdom 100 lost 0.60%. The biggest gainers of the session on the Investing.com United Kingdom 100 were British American Tobacco PLC (LON:BATS), which rose 6.14% or 179.50 points to trade at 3104.50 at the close. EasyJet PLC (LON:EZJ) added 4.01% or 41.50 points to end at 1076.00 and Imperial Brands PLC (LON:IMB) was up 2.19% or 46.00 points to 2142.50 in late trade. Biggest losers included Fresnillo PLC (LON:FRES), which lost 9.12% or 81.60 points to trade at 813.40 in late trade.

WATCH: Eikenhof school gets good news amid Mandela Day celebrations

While many people took 67 minutes yesterday to celebrate the life of Nelson Mandela through community service, the Adopt-A-School Foundation announced it would formulate a sustainable plan to contribute to Olifantsvlei Primary School in Eikenhof for more than just a day. Adopt-A-School Foundation, which is a partner of the Cyril Ramaphosa Foundation, held a Mandela Day event yesterday at the primary school where it announced plans to refurbish the Grade R facility. Adopt-A-School Foundation's executive director Steven Lebere said the foundation had been involved with the school for more than 10 years.

Business Maverick: Women continue to bump their heads against the glass ceiling

Progress on improving gender diversity in senior roles at large firms across the globe has been mediocre at best. At this rate, the business world won't significantly address the inequality any time soon, if the many research reports are to believed. And when it comes to the most powerful position in a company‚ women remain conspicuously absent.

Eiendom: Gereed vir 'n opswaai of steeds moeilik om te verkoop?

Die eiendomsmark, vroeër 'n gunsteling van sowel die aandelemark as huiskopers was, ervaar tans tamaai druk. Beleidsonsekerheid oor grondhervorming, asook kommer oor elektrisiteitsvoorsiening knel die land steeds. Verbruiker- en beleggersentiment is flou en dit help nie die sektor nie.

Amplats output from own managed mines down 4% in second quarter

JOHANNESBURG Anglo American Platinum said on Thursday output from its own managed mines decreased by four percent to 633600 ounces in the second quarter of 2019 due to lower production from Mogalakwena and Mototolo.Joint venture platinum group metal (PGM) production excluding Mototolo decreased by four percent to 228200 ounces Amplats said citing lower volume from Modikwa despite a strong performance from Kroondal.Production guidance for 2019 however remained unchanged at 4.24.5 million PGM ounces the company said. Total PGM production increased by one percent to 1118700 ounces with platinum output up three percent to 520300 ounces while palladium dipped one percent to 347100 ounces.This excluded SibanyeStillwater Rustenburg 4E material which transitioned to a tolling arrangement from January 1."Despite the increase in production the quarter was impacted by unprotected industrial action at Mototolo maintenance at Mogalakwena north concentrator and production challenges at Modikwa and Mototolo" Amplats said.PGM sales volumes of 1275100 ounces were in line with refined production but were down by eight percent yearonyear due to 154400 4E ounces returned through toll arrangements and not sold by Amplats.Platinum sales volumes decreased by six percent to 595200 ounces while palladium sales volumes were up 17 percent to 475900 ounces due to the change in the concentrate mix processed in each period.Amplats reiterated that the PGM production outlook of 4.24.5 million ounces for 2019 was down on 2018 due to the transition of SibanyeStillwater Rustenburg mine 4E material to a tolling arrangement. African News Agency (ANA).

Amplats sees production uptick in Q2

The balance sheet is also enjoying higher basket prices for platinum group metals. Kumba Iron Ore and Anglo American Platinum (Amplats) - both part of the Anglo American stable - have come out with their productions numbers for the six months ended June 2019. Amplats reported total platinum group metals (PGM) production up 1% at just over 1.1 million ounces.

ECB report eases earnings pain for European stocks

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * SAP slides after Q2 operating profit plummets 21% * Tech stocks down, Netflix also weighs on sentiment * Italy's banks jump on prospect of snap elections (Updates to close) By Sruthi Shankar and Amy Caren Daniel July 18 (Reuters) - European stocks ended lower on Thursday, as earnings worries ran high after poor results from software firm SAP sank technology shares, although hopes of looser monetary policy from the European Central Bank helped indexes bounce off early lows. After falling as much as 0.7% during the session, the pan-European STOXX 600 index closed down 0.2%, drawing support from a Bloomberg report that ECB staff were studying a potential change to the bank's inflation goal of near 2%. "The ECB changing its targets with regards to inflation could potentially enable it to be more accommodative for longer," said Craig Erlam, senior market analyst at OANDA in London. Global stock markets have been recovering strongly from a sharp correction in May, helped by expectations that central banks will funnel more cash into the economy to counter a global slowdown driven by the U.S.-China trade war. But a combination of earnings worries, and some slightly stronger economic numbers which may prevent policymakers from acting, have weakened sentiment globally in the past week. Shares in Europe's most valuable tech company fell 5.6% after it said investors would have to wait till next year for a major improvement in margins as the business software group reported a 21% fall in quarterly operating profit. That drove Germany's DAX to a one-month low, while technology stocks dropped 1.5%. "We are not seeing the positive surprises (from earnings) that you would expect to see with the bar lowered, although it's a bit early to say that," said Erlam.

‘Dr Dan' put under pressure

Embattled former Public Investment Corporation (PIC) chief executive Daniel "Dr Dan" Matjila has for the past two weeks been in the hot seat at the inquiry probing alleged impropriety and the failures of governance at the corporation. More than 70 witnesses have appeared before the commission, giving evidence on how the state asset manager, which manages R2-trillion in funds, mostly from the Government Employees Pension Fund (GEPF) and the Unemployment Insurance Fund (UIF) became involved in controversial transactions with companies including VBS Mutual Bank, Total SA and three companies linked to businessman Iqbal Survé — Ayo Technology Solutions, Independent Media and Sagarmatha. Matjila, who stepped down in December 2018, has been presented as an authoritarian figure.

Richemont posts strong rise in sales

The luxury goods group says Japanese and Chinese sales were particularly strong, while protests in Hong Kong affected its business there. Richemont has posted a big increase in first-quarter sales thanks to strong demand from customers in China and Japan and its Online Distributors segment. However, recent street protests in Hong Kong and the relative strength of the Hong Kong dollar impacted sales there.

Business Maverick: Microsoft shares hit record highs, powered by growing cloud sales

Since Chief Executive Satya Nadella took over in 2014, Microsoft has been shifting away from its Windows operating system software and toward cloud services, in which customers move their computing work to data centers managed by Microsoft. Revenue growth in Azure was 64% in the fiscal fourth quarter ended June 30, compared with 89% a year earlier and 73% in the prior quarter. Microsoft does not provide an absolute revenue figure for Azure, blending it into its "intelligent cloud unit," which had revenue of $11.4 billion compared with analyst expectations of $11.0 billion, according to Refinitiv data.

Company mitigates challenges at Mozambique project

An ambitious project timeline for the construction of beverage company Cervejas de Moçambique's (CDM's) new brewery, compounded by a late start to the project, owing to external constraints, saw geotechnical specialist Franki Africa make an effort to ensure partial handovers of the foundations and lateral support to allow the main contractor to continue with the works. The project owner, CDM, which already owns three breweries in the country, is a subsidiary of the largest global beer brewer AB InBev. Having broken ground on the construction of a more than two-million-hectolitre-a-year brewery to be built at a total cost of $180-million in Mozambique's Marracuene district, about 30 km north of Maputo, CDM went on to lay the first stone for the construction of the new brewery in early December last year.

Business Maverick: South Korea, Indonesia Central Banks Cut Rut Rates, Follow Peers

South Africa, Indonesia and South Korea, initially slow to follow peers in lowering borrowing costs, all announced a quarter-point cut in interest rates. In Latin America, Chile kept its key rate unchanged after last month's shock half-point reduction. The move by two of Asia's biggest emerging markets and Africa's most-industrialized economy demonstrates that even those reluctant to cut are now being forced to respond as global risks worsen.

GLOBAL MARKETS-Asia stocks gain, dollar sags as Fed reinforces rate cut expectations

* MSCI Asia-Pacific index up 0.3%, Nikkei gains 1% * Dovish views from Fed's Williams cement rate cut expectations * US yields fall, gold hits 6-year high on US rate cut prospect * Asian stock markets: tmsnrt.rs/2zpUAr4 By Shinichi Saoshiro TOKYO, July 19 (Reuters) - Asian stocks gained and the dollar sagged on Friday after a top Federal Reserve official all but cemented expectations of a U.S. interest rate cut later this month. New York Fed President John Williams said on Thursday that policymakers need to add stimulus early to deal with too-low inflation when interest rates are near zero and cannot wait for economic disaster to unfold, in a speech read as a strong argument in favour of quick action.

PRESS DIGEST- British Business - July 19

July 19 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - Jonathan Thompson, chief executive of HM Revenue & Customs, will leave the tax office in the autumn to take on the role of chief executive of the Financial Reporting Council.

VBS's fuel scheme lost PIC millions

The Public Investment Corporation (PIC) lost almost half a billion rand in a scheme aimed at empowering black fuel suppliers — courtesy of VBS Mutual Bank. The scheme involved the creation of a revolving R350-million loan facility for businesses in the fuel supply sector to access working capital after being awarded supply contracts by the state. VBS, in turn, using the supply contracts as security, would draw money from the PIC facility and provide the loans at a rate understood to be between three cents and five cents a litre, and then receive payment as soon as the fuel was delivered and payment made.

Business Maverick: Friday 19 July: Five Things You Need to Know to Start Your Day

Iranian Drone Destroyed Donald Trump said the U.S.  shot down  and "immediately destroyed" an Iranian drone that approached the USS Boxer near the Strait of Hormuz. The drone "was threatening the safety of the ship and the ship's crew," the president said, adding that he's calling "on other nations to protect their ships as they go through the Strait." Asian Stocks Pointing Higher Asian futures were pointing to a positive open after U.S. stocks rebounded from early losses.

Six trends investors should watch

Changes in the world that could have major impacts on returns. Investors in South Africa probably feel that they already have plenty to worry about. Low market returns, a struggling economy and ongoing political uncertainty make this a tricky environment. However, taking a long-term view on investing means having a perspective on much more than just what is apparent right now.

Federation committed to small business growth

The Steel and Engineering Industries Federation of Southern Africa (Seifsa) Small Business Hub (SBH) was created specifically to address the needs of small, medium-sized and microenterprises (SMMEs) in Southern Africa to contribute to economic growth and job creation. Seifsa marketing manager Mark Lotter says the SBH, launched in 2015, was in response to unfair criticism that Seifsa looks after the interests of only its bigger member companies. "Small businesses comprise 60% of Seifsa's membership and we want to ensure that there is an increase in entrepreneurship in our industry." The Seifsa SBH makes it possible for small business to access sound business information, advice and support services at a low cost, have an effective and reliable network of business support service providers who can assist, access business opportunities by connecting through the Seifsa member company network, facilitate financing, develop appropriate skills and competencies, access appropriate manufacturing and key trading sites, as well as facilitate enterprise development.

Minas-Rio lifts Anglo's production

The diversified miner says it's on track to meet this year's production target as Minas-Rio ramps up production ahead of schedule. Anglo American has reported a small rise in second-quarter production after Minas-Rio continued to rebuild production following last year's pipeline leaks at the Brazilian iron ore mine. The diversified mining group also reported a strong performance from its metallurgical coal business, offsetting weaker production at Kumba Iron Ore and De Beers.

Liberty benefits from market recovery

The life assurer expects a strong rise in first-half earnings due to stronger equity markets and a continued turnaround of its business. Liberty Holdings has primed investors for a big rise in first-half earnings due to higher market returns and an improved operating performance. In a trading statement, the life assurer and asset manager said it expected to report a rise of between 45% and 55% in normalised headline earnings per share (EPS) for the six months to end-June.

The big business of traffic fines

The issuing of fines for speeding and other traffic violations has grown into a multi-billion rand industry in SA..

Corruption-tainted EOH Mthombo to be shuttered

Under-fire IT services provider EOH is looking to "ring-fence" problematic contracts into a single entity. This after law firm ENSAfrica this week found evidence of a number of governance failings and wrongdoing at the JSE-listed company. Click Here EOH asked ENSAfrica to conduct a proactive comprehensive investigation into the IT services company's contracts to identify any wrongdoing or criminal conduct in the acquisition, award or execution of contracts. The company says from the probe, suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica. EOH's problems surfaced after software giant Microsoft in February terminated its contract with the IT services company after an anonymous whistle-blower reportedly filed a complaint with the United States Securities and Exchange Commission about alleged malfeasance to do with a contract with the SA Department of Defence. The company, this week, held a media briefing where it outlined how the corruption unfolded at the entity as well as the remedial actions it is taking. In the press briefing, EOH CEO Stephen van Coller blamed eight people for the corruption. He pointed out that corrupt payments were largely related to contracts entered into between 2014 and 2017. Following these developments, an EOH spokesperson told ITWeb it is anticipated EOH Mthombo, the subsidiary that was largely implicated in the suspicious payments, will be closed within two years. According to the spokesperson, EOH Mthombo client contracts will be ceded to another appropriate legal entity within the group "to ensure continuity and continued service delivery for our clients, subject to the required regulatory approvals and client consent. "This forms part of EOH's reorganisation process for enhanced governance, which includes the ring-fencing of problematic contracts from the past into a single entity to provide focused management and resolution of the issues." With respect to the suspicious payments from EOH Mthombo,

LETTER: Blood diamonds fund abuses

Thabo Lerotholi is right when he says "there is still no way to know for sure whether one is buying a blood diamond" (How many miners would you kill to slip that diamond ring onto a finger? July 12). However, blood diamonds aren't just a problem in the mining sector, as the article implies. Revenue from the diamond industry further along the supply chain funds gross human rights violations, including suspected war crimes and crimes against humanity, by Israeli forces. In 2014, Israel killed more than 2,500 people including over 500 children in Gaza. Last year, more than 200 civilians were killed by Israeli snipers and more than 6,100 maimed and injured.

Business Maverick: Pain From Hong Kong Protests Spreads as Luxury Names Get Hit

The impact from the Hong Kong protests is spreading to global luxury retailers, with jewelry and cosmetics getting hurt as shoppers and big-spending travelers stay away. Swiss luxury-goods maker Richemont became the latest casualty, saying Thursday the street demonstrators dealt a blow to local sales. The owner of Cartier and Van Cleef & Arpels echoed Swatch Group AG in saying that the unrest in Hong Kong, the top export market for Swiss watches, weighed on sales due to store closures and lower tourist arrivals.

GLOBAL MARKETS-Asia stocks firm as Fed props up rate cut...

* MSCI Asia-Pacific index up 1%, Nikkei gains 1.65% * Dovish views from Fed's Williams (NYSE:WMB) cement rate cut expectations * U.S. yields fall, gold hits 6-year high on Fed rate cut prospect * Crude bounces after U.S. Navy destroys Iranian drone * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Shinichi Saoshiro TOKYO, July 19 (Reuters) - Asian stocks advanced on Friday after a top Federal Reserve official cemented expectations of a U.S.

EDITORIAL: Big cleanup under way at EOH

EOH CEO Stephen van Coller appears to be quickly going through his long, daunting to-do list at the company, a once high-flying tech outfit that sells computer software to everyone from blue-chip companies to government departments. But it will probably take much longer for investors to erase painful memories of the past few months when the bulk of their equity was wiped out following allegations of governance flaws. In addition, Van Coller, who is shutting down a business unit that brings in substantial sales to the group, should probably strike a fine balance between his cleanup drive and taking commercially logical steps. Van Coller, a former deals banker at lender Absa, was drafted in September 2018 after allegations of underhand dealings involving EOH and its client, the government, sent its share price tumbling, and tarnished the company's credentials as one of the must-haves in fund managers' portfolios. Under van Coller, EOH has largely cleared its long-standing leadership structure, with the departure of several executives that include founder and chairman Asher Bohbot. Most recently, directors Zunaid Mayet, Rob Godlonton and Pumeza Bam quit abruptly this week. Van Coller this week released a forensic report into the five-month investigation he initiated.

PepsiCo makes offer to acquire Pioneer Foods

As the US company looks to target African growth. PepsiCo, which is listed on the Nasdaq in the US, has announced on Friday that it has entered into an agreement to acquire all outstanding shares of Pioneer Food Group for R110 per share in cash. Pioneer Foods, which is listed locally on the Johannesburg Stock Exchange, noted the "firm intention" to purchase by PepsiCo in a Sens statement and that the transaction is one of PepsiCo's largest outside of the US. The group says in its statement that this is a demonstration of PepsiCo's belief in "South Africa's potential and its long-term commitment to the country". Read Pioneer's full Sens statement here..

AB InBev agrees to sell Australian business to pay down debt

JOHANNESBURG, July 19 (ANA) - The world's largest brewer Anheuser-Busch InBev said on Friday it had agreed to divest its Australian subsidiary Carlton & United Breweries (CUB) to Asahi Group Holdings for AU$16 billion (approximately US$11.3 billion)..

Debt-heavy AB InBev agrees Australian unit sale to Asahi

BRUSSELS, July 19 (Reuters) - Anheuser-Busch InBev, the world's largest brewer, said on Friday it had agreed to sell its Australian operations to Japan's Asahi and was still interested in reviving the stalled flotation of its Asian business. The Belgium-based brewer, weighed down by debt after its 2016 acquisition of nearest rival SABMiller, said it had agreed to divest its Australian subsidiary, Carlton & United Breweries, for A$16.0 billion ($11.3 billion) in enterprise value. ($1 = 1.4150 Australian dollars) (Reporting by Philip Blenkinsop).

UPDATE 1 - Pioneer Foods receives acquisition offer from PepsiCo subsidiary

JOHANNESBURG, July 19 (ANA) - A wholly-owned subsidiary of US multinational food, snack and beverage corporation PepsiCo has given notice of its firm intention to make an offer to acquire the issued ordinary shares of South African packaged goods company Pioneer Foods, the two said on Friday..

PepsiCo puts in $1.7bn bid to acquire Africa's Pioneer Foods

JOHANNESBURG ( ) - U.S.-based beverage and snack maker PepsiCo is planning to acquire South Africa's Pioneer Food Group for around $1.7 billion, the two companies said on Friday, as it targets expansion in Africa. PepsiCo offered a cash consideration of 110 rand ($7.94) per Pioneer Foods ordinary share, a 56.5% premium as of July 12. "This acquisition will help PepsiCo gain a solid beachhead for expansion into sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, enabling scale and distribution," PepsiCo said in a statement.

Cloud is now Microsoft's biggest business

Microsoft CEO Satya Nadella Microsoft topped quarterly sales and profit projections, fuelled by steady demand for cloud computing services and a surprisingly strong Windows business. The company's forecast promised robust growth will continue into next year. The software maker pledged "double-digit" percentage gains in sales and operating income for the year that started on 1 July.

The lucrative business of traffic fines

The issuing of fines for speeding and other traffic violations has grown into a multi-billion rand industry in South Africa, where road safety is not always the primary goal. NATIONAL NEWS - Most people would agree that strict rules and stern policing are necessary to improve road safety, especially against the backdrop of an increasing number of cars on the road and ongoing technological advancements that are making cars faster year after year. At the same time, motorists could feel persecuted by traffic officials carrying thick books with lists of potential offences - every one with a hefty price tag.

The lucrative business of traffic fines

The issuing of fines for speeding and other traffic violations has grown into a multi-billion rand industry in South Africa, where road safety is not always the primary goal. NATIONAL NEWS - Most people would agree that strict rules and stern policing are necessary to improve road safety, especially against the backdrop of an increasing number of cars on the road and ongoing technological advancements that are making cars faster year after year. At the same time, motorists could feel persecuted by traffic officials carrying thick books with lists of potential offences - every one with a hefty price tag.

PepsiCo offers $1.7 bln to buy South Africa's Pioneer Foods

PNR-FOODS:   9,968     +2208 (+28.45%)   19/07/2019 00:00 (Adds CEO comments, details, adds shares) JOHANNESBURG, July 19 (Reuters) - PepsiCo has made a $1.7 billion offer to buy South Africa's Pioneer Food Group the companies said on Friday, boosting the target's shares by nearly 30%. The U.S. drinks and snack group said Pioneer Food's product portfolio was complementary and would help PepsiCo to expand in sub-Saharan Africa by boosting its manufacturing and distribution capabilities. PepsiCo offered 110 rand ($7.94) per Pioneer Foods ordinary share, the companies said, with the news lifting the South African company's shares by 28.8% to almost 100 rand. "Pioneer Foods forms an important part of our strategy to not only expand in South Africa, but further into sub-Saharan Africa as well," PepsiCo Chairman and CEO Ramon Laguarta said in a statement. Pioneer Foods, which has brands ranging from drinks to grain products such as Weet-Bix and Liqui-Fruit, exports to more than 80 countries. ($1 = 13.8613 rand) (Reporting by Tanisha Heiberg Editing by David Goodman) 2019-07-19 09.

US food giant PepsiCo moves to acquire Sasko and Bokomo owner Pioneer Foods

US multinational food, snack, and beverage corporation PepsiCo has put in an offer to acquire all the outstanding shares of South African packaged goods company Pioneer Foods at a R110 per share premium. PepsiCo owns brands such as Pepsi, Lays and Doritos, while Pioneer owns local favourites like Liqui-Fruit, Sasko and Bokomo. In a post published to the JSE's SENS, Pioneer laid out the ‘firm intention' from PepsiCo to acquire the stake, which is valued at approximately $1.7 billion (R23.5 billion).

BRIEF-PepsiCo Plans To Acquire South Africa's Pioneer Foods

July 19 (Reuters) - Pioneer Food Group Ltd PFGJ.J : * JSE: PFG - FIRM INTENTION ANNOUNCEMENT * PIONEER FOOD - PEPSICO OFFER WILL BE MADE AT A CASH CONSIDERATION OF ZAR110 PER PIONEER FOODS ORDINARY SHARE * PIONEER FOOD GROUP LTD - FIRM INTENTION OF A WHOLLY-OWNED SUBSIDIARY OF PEPSICO TO MAKE AN OFFER TO ACQUIRE ORDINARY SHARES IN PIONEER FOODS* PIONEER FOOD GROUP LTD - INDEPENDENT BOARD UNANIMOUSLY RECOMMENDS PEPSICO OFFER TO PIONEER FOODS ORDINARY SHAREHOLDERS * PIONEER FOOD - INDEPENDENT BOARD BELIEVES THAT IT IS IN INTERESTS OF CO AND ITS SHAREHOLDERS THAT THEY BE GIVEN OPPORTUNITY TO CONSIDER PEPSICO OFFER * PIONEER FOOD - PER SHARE SCHEME CONSIDERATION WILL BE FUNDED BY PEPSICO FROM A COMBINATION OF DEBT AND CASH * PIONEER FOOD -PEPSICO FURNISHED TRP WITH IRREVOCABLE UNCONDITIONAL GUARANTEE ISSUED BY JPMORGAN CHASE, JPM TO PAY UPTO MAXIMUM GUARANTEED OF R25.4 BLN.

PepsiCo plans to acquire South Africa's Pioneer Foods

JOHANNESBURG, July 19 (Reuters) - U.S.-based beverage and snack maker PepsiCo PEP.O is planning to acquire South Africa's Pioneer Food Group PFGJ.J for around $1.7 billion, the two companies said on Friday, as it targets expansion in Africa. PepsiCo offered a cash consideration of 110 rand ($7.94) per Pioneer Foods ordinary share, a 56.5% premium as of July 12. "This acquisition will help PepsiCo gain a solid beachhead for expansion into sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, enabling scale and distribution," PepsiCo said in a statement. ($1 = 13.8613 rand).

PPC LIMITED - Short Form - Abridged Audited Financial Results for the year ended 31 March 2019

PPC PPC003 201907190015A Short Form - Abridged Audited Financial Results for the year ended 31 March 2019 PPC Ltd (Incorporated in the Republic of South Africa) Company registration number: 1892/000667/06 JSE / ZSE code: PPC JSE ISIN: ZAE 000170049 JSE code: PPC003 JSE ISIN: ZAG000117524 (‘PPC' or ‘Company') Short Form - Abridged Audited Financial Results for the year ended 31 March 2019 Shareholders of the Company (‘Shareholders') are referred to the reviewed condensed consolidated financial statements announcement released on SENS on 27 June 2019 (‘Reviewed Results') and are advised that the Company has completed the audit of its financial statements for the year-ended 31 March 2019 (‘Audited Financial Statements'). The Audited Financial Statements contain changes to the Reviewed Results. Summary of changes Herewith a summary of changes from the consolidated reviewed results to the consolidated audited annual financial statements: Consolidated Statement of Financial position - Deferred taxation assets (refer to note 10.3) - Deferred taxation liabilities (refer to note 10.3) There are no changes to the consolidated statement of comprehensive income, the consolidated statement of cash flows as well as the consolidated statement of changes in equity. Notes to the audited consolidated financial statements - Going concern (refer to note 1.4) - Property plant and equipment (refer to note 3) - Commitments ( refer to note 4) - Taxation (refer to note 10.1) - Deferred tax (refer to note 10.3) - Trade and other payables (refer to 15) - Trade and other receivables (refer to note 16) - Non - current assets held for sale (refer to note 24) - Financial risk management (refer to note 26) - Events after reporting date (refer to note 32) Given the changes to the Reviewed Results, PPC is publishing abridged audited financial statements and the financial highlights thereof are outlined below. The Audited Financial Statements were audited by Deloitte & Touche, who expressed an unmodified audit opi

EMERGING MARKETS-EM assets up on Fed boost; PepsiCo-Pioneer deal lifts S.Africa shares

* EM currencies scale four-month high * PepsiCo bid to acquire Pioneer boosts JTOPIS * Africa bond yields fall after South African rate cut By Agamoni Ghosh July 19 (Reuters) - Emerging market shares rose on Friday and currencies touched a four-month high after comments from a top Federal Reserve official reinforced expectations of a U.S. interest rate cut this month, stoking demand for riskier assets. New York Federal Reserve President John Williams said on Thursday that policymakers could not wait for economic disaster to hit before adding stimulus.

Markets LIVE: Global stock futures rise on Fed-cut bets

Rate cut good news, but don't get too excited - economists The SA Reserve Bank's decision to cut the repo rate by 0.25% has been met with cautious optimism by analysts, who - while welcoming the move - have warned that relief is more likely to be short-term, and that room for further easing is limited.   FNB chief executive Jacques Celliers said the rate cut - which would mean a reduction in the prime lending rate from 10.25% to 10% - would assist cash-strapped consumers in coming months, but cautioned the public not to rush into borrowing. "Following a contraction in GDP during the first quarter, we look forward to improved conditions later in the year based on expectations of a good rebound and this, coupled with lower interest rates, may aid the anticipated recovery..

ANHEUSER-BUSCH INBEV SA/NV - Anheuser-Busch InBev Agrees to Sell Carlton & United Breweries to Asahi Group Holdings, Ltd.

Anheuser-Busch InBev Agrees to Sell Carlton & United Breweries to Asahi Group Holdings, Ltd. Anheuser-Busch InBev SA/NV (Incorporated in the Kingdom of Belgium) Register of Companies Number: 0417.497.106 Euronext Brussels Share Code: ABI Mexican Stock Exchange Share Code: ANB NYSE ADS Code: BUD JSE Share Code: ANH ISIN: BE0974293251 ("AB InBev" or the "Company") Anheuser-Busch InBev Agrees to Sell Carlton & United Breweries to Asahi Group Holdings, Ltd. and Continues to Evaluate a Potential IPO of Budweiser APAC The enclosed information constitutes inside information as defined in Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market. 19 July 2019 - Anheuser-Busch InBev (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings, Ltd. for 16.0 billion AUD, equivalent to approximately 11.3 billion USD, in enterprise value.

The lucrative business of traffic fines

Most people would agree that strict rules and stern policing are necessary to improve road safety, especially against the backdrop of an increasing number of cars on the road and ongoing technological advancements that are making cars faster year after year. At the same time, motorists could feel persecuted by traffic officials carrying thick books with lists of potential offences - every one with a hefty price tag. A recent case in the Gauteng Division of the High Court between the Johannesburg Metropolitan Municipality and one of its private contractors tasked to operate speed cameras shows to what extent law enforcement has evolved into a big and very lucrative industry.

South32 reports strong end to FY2019

18TH JULY 2019 BY: ESMARIE IANNUCCI CREAMER MEDIA SENIOR DEPUTY EDITOR: AUSTRALASIA PERTH (miningweekly.com) - Diversified miner South32 has reported a strong finish to the 2019 financial year, with revenue equivalent production growing by 10% in the June quarter and by 3% in the full year, while record production was achieved at the Hillside aluminium operation, and metallurgical coal production from the Illawarra operation increased by 57%. South32 CEO Graham Kerr on Thursday reported that alumina production for the full year had reached 5.05-million tonnes in the full year, down slightly from the 5.06-million tonnes reported at the end of the 2018 financial year. ADVERTISEMENT Alumina production from the Brazil alumina operations declined by 4% during the year, to 1.2-million tonnes, as boiler performances and power outages impacted production. Meanwhile, aluminium production remained stagnant at 982 000 t. ADVERTISEMENT However, South32 reported that production from the Hillside aluminium operation reached a record 715 000 t in the full year, up from the 712 000 t in the previous financial year as the smelter continued to test its maximum technical capacity, and despite an increase in the frequency of load-shedding events. Energy coal production for the full year was down by 7%, to 26.2-million tonnes, compared with the 28.3-million tonnes delivered in the 2018 financial year, as production from the South African energy coal division decreased on the back of extended outages of the Klipspruit dragline following an incident in August of last year. The incident has been confirmed as an insurable event, and initial progress payment for the volume and cost impact of the outage was awarded during June, South32 told shareholders. During the quarter ended June, South32 also received bids for its South African energy coal operation, with the miner saying that it was currently engaging with bidders to finalise these offers. Once an acceptable agreement has been reached, a determi

African Markets - Factors to watch on July 19

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - GLOBAL MARKETS Asian stocks advanced on Friday after a top Federal Reserve official cemented expectations of a U.S. interest rate cut later this month, fuelling appetite for riskier assets and keeping a cap on the dollar. MKTS/GLOB WORLD OIL PRICES Oil prices climbed around 2% on Friday after the U.S.

Top Emerging Markets Join Policy Easing Tide to Spur Growth

(Bloomberg) -- Central banks across key emerging markets finally joined the the tide of monetary policy easing Thursday as the world economy slows. South Africa, Indonesia and South Korea, initially slow to follow peers in lowering borrowing costs, all announced a quarter-point cut in interest rates. In Latin America, Chile kept its key rate unchanged after last month's shock half-point reduction. The move by two of Asia's biggest emerging markets and Africa's most-industrialized economy demonstrates that even those reluctant to cut are now being forced to respond as global risks worsen. They had held off on easing too quickly: South Korea had worries about financial stability due to high levels of household debt, Indonesia needs higher yields to attract foreign investors to fund a current-account deficit and South Africa wants inflation expectations at the midpoint of its target range. Their decision to cut is an indication of pronounced fears of a deepening downturn and demonstrates the policy space that's opened up since the Federal Reserve's dovish tilt.

PepsiCo offers R23.5bn to buy South Africa's Pioneer Foods

The US drinks and snack group said Pioneer Food's product portfolio was complementary and would help PepsiCo to expand in sub-Saharan Africa by boosting its manufacturing and distribution capabilities. | JOHANNESBURG - PepsiCo has made a $1.7 billion (R23.5 billion) offer to buy South Africa's Pioneer Food Group the companies said on Friday, boosting the target's shares by nearly 30%.The US drinks and snack group said Pioneer Food's product portfolio was complementary and would help PepsiCo to expand in sub-Saharan Africa by boosting its manufacturing and distribution capabilities.PepsiCo offered R110 ($7.94) per Pioneer Foods ordinary share, the companies said, with the news lifting the South African company's shares by 28.8% to almost R100. "Pioneer Foods forms an important part of our strategy to not only expand in South Africa but further into sub-Saharan Africa as well," PepsiCo Chairman and CEO Ramon Laguarta said in a statement. Pioneer Foods, which has brands ranging from drinks to grain products such as Weet-Bix and Liqui-Fruit, exports to more than 80 countries..

BRIEF-Pepsico Targets African Growth With Offer To Acquire Pioneer Foods For About US$1.7 Bln

July 19 (Reuters) - Pepsico Inc PEP.O :* PEPSICO TARGETS AFRICAN GROWTH WITH OFFER TO ACQUIRE PIONEER FOODS * HAS ENTERED INTO AN AGREEMENT TO ACQUIRE ALL OUTSTANDING SHARES OF PIONEER FOODS GROUP LTD * PEPSICO -ACQUISITION WILL BE FUNDED THROUGH A COMBINATION OF DEBT AND CASH, AND HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF DIRECTORS OF BOTH COMPANIES * SAYS AGREEMENT TO ACQUIRE ALL OUTSTANDING SHARES OF PIONEER FOODS GROUP LTD FOR R110.00 PER SHARE IN CASH * COMPANY WILL CREATE A NEW OPERATING SECTOR FOR SUB-SAHARAN AFRICA ("SSA"), PEPSICO SSA WILL BE LED BY EUGENE WILLEMSEN * ACQUISITION, VALUED AT APPROXIMATELY US $1.7 BILLION * PEPSICO -NEW STRUCTURE WILL NOT IMPACT CO'S REPORTING STRUCTURE, PEPSICO SSA WILL REMAIN PART OF EUROPE SUB-SAHARAN AFRICA FROM FINANCIAL REPORTING PERSPECTIVE.

WATCH: Stock Pick — Mr Price Group

Steven Schultz from Momentum talks to about his stock pick of the day Steven Schultz from Momentum chose Mr Price Group Ltd as his stock pick of the day. "So I think sometimes it does pay to swim with the current, and by that measure, I'm looking at Mr Price. This retailer has also been hard hit over the past year, it is no secret that the consumer is under pressure and as a result they have had negative performance so far this year, so year to date they are down around 9%." Or listen to the full a.

PepsiCo plans to acquire South Africa's Pioneer Foods

JOHANNESBURG, July 19 (Reuters) - U.S.-based beverage and snack maker PepsiCo is planning to acquire South Africa's Pioneer Food Group for around $1.7 billion, the two companies said on Friday, as it targets expansion in Africa. PepsiCo offered a cash consideration of 110 rand ($7.94) per Pioneer Foods ordinary share, a 56.5% premium as of July 12. "This acquisition will help PepsiCo gain a solid beachhead for expansion into sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, enabling scale and distribution," PepsiCo said in a statement.

BREAKING NEWS: Food and beverages giant PepsiCo wants to buy Pioneer Foods

US food and beverages company says deal, worth at least R25.4bn, will boost the SA economy In a vote of confidence about SA's long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth at least R25.4bn. In a joint statement, PepsiCo said the deal made sense as Africa "is a key market for future growth". "Acquiring Pioneer Foods will increase PepsiCo's presence in a country and region of high growth potential ... Pioneer Foods forms an important part of PepsiCo's strategy to expand not only in SA but in sub-Saharan Africa as well." The deal "will contribute meaningfully to the growth of the South African economy under its newly elected leadership" and could spur more foreign direct investment, PepsiCo said. Pioneer said it will gain access "to leading research and development and brand expertise, along with global scale and distribution". PepsiCo will offer Pioneer's owners, including Zeder Investments, at least R110 a share, Pioneer said on Friday.

AB InBev offloads Australian unit for $11.3bn

Global brewer to sell Carlton & United Breweries to Japan's Asahi Group Anheuser-Busch InBev (AB InBev), which last week shelved plans to list its Asia Pacific business in Hong Kong, said on Friday it will sell Australian subsidiary Carlton & United Breweries (CUB) to Japan's Asahi Group for about $11.3bn (R157bn). AB InBev, which cemented its position as the world's largest brewer with its 2016 takeover of Johannesburg-born SABMiller, also said it will continue to evaluate a potential listing of Budweiser Brewing Company Asia Pacific. SABMiller bought Foster's Group in 2011 in a deal that included CUB. AB InBev said that as part of the deal with Asahi, it will give the Japanese brewer rights to commercialise its portfolio of international brands in Australia. "The divestiture of CUB, once completed, will help AB InBev to accelerate its expansion into other fast-growing markets in the Asia Pacific region and globally," the group said. "It will also allow the company to create additional shareholder value by optimising its business at an attractive price while further deleveraging its balance sheet and strengthening its position for growth opportunities." AB InBev CEO Carlos Brito said the group saw "great potential" for its business in the Asia Pacific, which "remains a growth engine within our company". AB InBev will use the proceeds of the sale to pay down debt, it said. The transaction is expected to close by the first quarter of 2020.

South African Markets - Factors to watch on July 19

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Friday. SOUTH AFRICAN MARKETSSouth Africa's rand rallied against the dollar on Thursday and bond yields fell after the central bank cut its main lending rate by 25 basis points in a widely expected move to counter floundering economic growth. .J ZAR/ GLOBAL MARKETS Asian stocks advanced on Friday after a top Federal Reserve official cemented expectations of a U.S. interest rate cut later this month, fuelling appetite for riskier assets and keeping a cap on the dollar.

EMERGING MARKETS-EM assets up on Fed boost; PepsiCo-Pioneer deal...

* EM currencies scale four-month high * PepsiCo bid to acquire Pioneer boosts JTOPIS * Africa bond yields fall after South African rate cut By Agamoni Ghosh July 19 (Reuters) - Emerging market shares rose on Friday and currencies touched a four-month high after comments from a top Federal Reserve official reinforced expectations of a U.S. interest rate cut this month, stoking demand for riskier assets. New York Federal Reserve President John Williams (NYSE:WMB) said on Thursday that policymakers could not wait for economic disaster to hit before adding stimulus. index for emerging market shares .MSCIEF rose 0.8%, on track to end the week higher with China .SSEC .CSI300 , Hong Kong .HSI and South Korean stocks .KS11 leading gains. Shares in Johannesburg .JTOPI climbed 1% to a two-week high as Pioneer Food Group PFGJ.J jumped nearly 30% after U.S.-based beverage and snack maker PepsiCo PEP.O said it planned to acquire the South African company for around $1.7 billion.

5 things you need to know in SA business today and 7 easy ways to stop being socially awkward

1. The repo rate was lowered by 25 basis points yesterday, but there's little indication that it's the start of a long rate cut party. The Reserve Bank governor Lesetja Kganyago warned: "The impact of upside risks to the inflation outlook could be significant." He warned about global risks, rising electricity prices and the cost of bailing out Eskom and other state-owned entities.

Study challenges old beliefs about business growth

ng for growth in 2020 and beyond should question long-standing beliefs about business growth in favour of fresh new beliefs and behaviours. This is the outcome of the most comprehensive global study ever done, spanning 73 countries, interviews with 500 senior executives, 1,500 online survey contributions, and artificial intelligence analysis of over 3,500 pieces of literature Growth is a perennial objective for marketers, who seek to create sustained, demand-led impact for their brands. But the days of assumed growth are over, and delivering it is more difficult than ever before.

Food and beverages giant PepsiCo to buy Pioneer Foods

In a vote of confidence about SA's long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth at least R25.4bn.  In a joint statement, PepsiCo said the deal made sense as Africa "is a key market for future growth". "Acquiring Pioneer Foods will increase PepsiCo's presence in a country and region of high growth potential ... Pioneer Foods forms an important part of PepsiCo's strategy to expand not only in SA but in sub-Saharan Africa as well." The deal "will contribute meaningfully to the growth of the South African economy under its newly elected leadership" and could spur more foreign direct investment, PepsiCo said.

Pioneer Foods receives acquisition offer from PepsiCo subsidiary

JOHANNESBURG, July 19 (ANA) - Packaged goods company Pioneer Foods said on Friday a subsidiary of PepsiCo had given notice of its firm intention to make an offer to acquire its issued ordinary shares. ANA NEWS WIRE Disclaimer: The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality. ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video.

ANHEUSER-BUSCH INBEV SA/NV - Anheuser-Busch InBev Agrees to Sell Carlton & United Breweries to Asahi Group Holdings, Ltd.

ANH 201907190010A Anheuser-Busch InBev Agrees to Sell Carlton & United Breweries to Asahi Group Holdings, Ltd. Anheuser-Busch InBev SA/NV (Incorporated in the Kingdom of Belgium) Register of Companies Number: 0417.497.106 Euronext Brussels Share Code: ABI Mexican Stock Exchange Share Code: ANB NYSE ADS Code: BUD JSE Share Code: ANH ISIN: BE0974293251 (‘AB InBev' or the ‘Company') Anheuser-Busch InBev Agrees to Sell Carlton & United Breweries to Asahi Group Holdings, Ltd. and Continues to Evaluate a Potential IPO of Budweiser APAC The enclosed information constitutes inside information as defined in Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse and regulated information as defined in the Belgian Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market. 19 July 2019 - Anheuser-Busch InBev (Euronext: ABI) (NYSE: BUD) (MEXBOL: ANB) (JSE: ANH) has agreed to divest Carlton & United Breweries (CUB), its Australian subsidiary, to Asahi Group Holdings, Ltd.

Debt-laden AB InBev agrees sale of Australian unit to Asahi

* Agrees deal at enterprise value of $11.3 bln * Looking to reduce $100 bln debt pile * Shelved IPO of Asian operations last week (Adds detail) By Philip Blenkinsop BRUSSELS, July 19 (Reuters) - Anheuser-Busch InBev, the world's largest brewer, has agreed to sell its Australian operations to Japan's Asahi and is interested in reviving the stalled flotation of its Asian business. The Belgium-based brewer, weighed down by debt after its 2016 acquisition of closest rival SABMiller, said on Friday it had agreed to divest Australian subsidiary Carlton & United Breweries for A$16 billion ($11.3 billion) in enterprise value. AB InBev said the bulk of the proceeds from the deal, expected to close in the first quarter of 2020, would be used to reduce debt. The sale comes only a week after AB InBev shelved an initial public offering (IPO) of its Asian operations, including Australia. The company said factors, including market conditions, had stalled its plans to sell off 15% of its Asian business. What could have been the largest flotation globally this year, raising up to $9.8 billion for the brewer, ended up being the third-largest ever to be withdrawn. Sources close to the deal said investors had baulked at the price. AB InBev said it still believes in the rationale of a potential offering of a minority stake of Asian business Budweiser APAC, excluding Australia, provided it could be completed at "the right valuation". The company had billed the IPO as a means to drive regional consolidation.

PPC LIMITED - Short Form - Abridged Audited Financial Results for the year ended 31 March 2019

Short Form - Abridged Audited Financial Results for the year ended 31 March 2019 PPC Ltd (Incorporated in the Republic of South Africa) Company registration number: 1892/000667/06 JSE / ZSE code: PPC JSE ISIN: ZAE 000170049 JSE code: PPC003 JSE ISIN: ZAG000117524 ("PPC" or "Company") Short Form - Abridged Audited Financial Results for the year ended 31 March 2019 Shareholders of the Company ("Shareholders") are referred to the reviewed condensed consolidated financial statements announcement released on SENS on 27 June 2019 ("Reviewed Results") and are advised that the Company has completed the audit of its financial statements for the year-ended 31 March 2019 ("Audited Financial Statements"). The Audited Financial Statements contain changes to the Reviewed Results. Summary of changes Herewith a summary of changes from the consolidated reviewed results to the consolidated audited annual financial statements: Consolidated Statement of Financial position - Deferred taxation assets (refer to note 10.3) - Deferred taxation liabilities (refer to note 10.3) There are no changes to the consolidated statement of comprehensive income, the consolidated statement of cash flows as well as the consolidated statement of changes in equity. Notes to the audited consolidated financial statements - Going concern (refer to note 1.4) - Property plant and equipment (refer to note 3) - Commitments ( refer to note 4) - Taxation (refer to note 10.1) - Deferred tax (refer to note 10.3) - Trade and other payables (refer to 15) - Trade and other receivables (refer to note 16) - Non - current assets held for sale (refer to note 24) - Financial risk management (refer to note 26) - Events after reporting date (refer to note 32) Given the changes to the Reviewed Results, PPC is publishing abridged audited financial statements and the financial highlights thereof are outlined below. The Audited Financial Statements were audited by Deloitte & Touche, who expresse

UPDATE 1-Fed signals buoy European shares, AB InBev jumps

(Adds comment, details) July 19 (Reuters) - Shares in Europe rose across the board on Friday as comments from a Federal Reserve official cemented the case for a U.S. interest rate cut this month, with brewer Anheuser-Busch InBev leading blue chip gains after moves to reduce its debt burden. New York Fed President John Williams (NYSE:WMB) said on Thursday policymakers could not wait for economic disaster to hit before adding stimulus, reviving expectations of a deeper rate cut in July and sparking a rally in shares worldwide have fully priced in a 25 basis point cut by the Fed this month, but a batch of strong U.S. data recently had dimmed hopes of an aggressive cut and weakened the positive global mood that has driven stock markets higher since May. The pan-European stocks benchmark .STOXX , which hit a 3-week low on Thursday, rose 0.7% by 0819 GMT. "The question is not that will a rate cut happen, but will the size of the cut itself will be 0.50 bps instead of 0.25 bps, because there is uncertainty over the size of what the interest rate cut will be at the upcoming Fed meeting," Spreadex analyst Connor Campbell said."Markets haven't had a great week so any sign of extra dovishness will be taken as a positive." Poor earnings over the last two sessions had threatened to take the index lower on the week, but if Friday's gains hold, the STOXX will end the week higher for the sixth time in seven weeks. Much of the rally, from what were the sharpest monthly declines in more than two years in May, has been spurred by signals from major central banks that they would take a more accommodative stance to offset the impact of a prolonged and bruising trade war between the United States and China. Belgium-based Budweiser owner Anheuser-Busch InBev ABI.BR jumped 5.2% after the debt-heavy brewer said it had agreed to sell its Australian operations to Japan's Asahi 2502.T and was still interested in reviving the stalled flotation of its Asian business.

PepsiCo plans to acquire South Africa's Pioneer Foods

US-based beverage and snack maker PepsiCo is planning to acquire South Africa's Pioneer Food Group for around $1.7 billion, the two companies said on Friday, as it targets expansion in Africa. PepsiCo offered a cash consideration of R110 per Pioneer Foods ordinary share, a 56.5% premium as of July 12. "This acquisition will help PepsiCo gain a solid beachhead for expansion into sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, enabling scale and distribution," PepsiCo said in a statement..

Cloud is now Microsoft's biggest business

Microsoft CEO Satya Nadella Microsoft topped quarterly sales and profit projections, fuelled by steady demand for cloud computing services and a surprisingly strong Windows business. The company's forecast promised robust growth will continue into next year. The software maker pledged "double-digit" percentage gains in sales and operating income for the year that started on 1 July.

PepsiCo plans to acquire South Africa's Pioneer Foods

PNR-FOODS:   9,967     +2207 (+28.44%)   19/07/2019 00:00 JOHANNESBURG, July 19 (Reuters) - U.S.-based beverage and snack maker PepsiCo is planning to acquire South Africa's Pioneer Food Group for around $1.7 billion, the two companies said on Friday, as it targets expansion in Africa. PepsiCo offered a cash consideration of 110 rand ($7.94) per Pioneer Foods ordinary share, a 56.5% premium as of July 12. "This acquisition will help PepsiCo gain a solid beachhead for expansion into sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, enabling scale and distribution," PepsiCo said in a statement. ($1 = 13.8613 rand) (Reporting by Tanisha Heiberg; Editing by Jan Harvey) 2019-07-19 08.

GLENCORE PLC - GLN: Transactions In own Shares

GLN: Transactions In own Shares GLENCORE PLC (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 19 July 2019 Transactions in own shares-18 July 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 18 July 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,298,023 Lowest price paid per share (GBp): 268.0500 Highest price paid per share (GBp): 270.6500 Volume weighted average price paid per share (GBp): 269.6433 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 943,959,469 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,642,240,597. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue

AB InBev agrees to sell Australian business to pay down debt

JOHANNESBURG, July 19 (ANA) - The world's largest brewer Anheuser-Busch InBev said on Friday it had agreed to divest its Australian subsidiary Carlton & United Breweries (CUB) to Asahi Group Holdings for AU$16 billion (approximately US$11.3 billion)..

The lucrative business of traffic fines

The issuing of fines for speeding and other traffic violations has grown into a multi-billion rand industry in South Africa, where road safety is not always the primary goal. 10 mins ago Durban North Police during roadblock Most people would agree that strict rules and stern policing are necessary to improve road safety, especially against the backdrop of an increasing number of cars on the road and ongoing technological advancements that are making cars faster year after year. At the same time, motorists could feel persecuted by traffic officials carrying thick books with lists of potential offences - everyone with a hefty price tag.

'I would take Prosus and Naspers shares'

Naspers - Africa's largest company - will list its e-commerce businesses - now called Prosus - on Amsterdam's Euronext stock exchange in September. How will the listing affect Naspers shareholders? Accepting Prosus shares will make you liable for capital gains tax (CGT). Choosing Naspers shares instead avoids triggering that tax event.

AB InBev offloads Australian unit for $11.3bn

Anheuser-Busch InBev (AB InBev), which shelved plans to list its Asia Pacific business in Hong Kong, said it will sell Australian subsidiary Carlton & United Breweries (CUB) to Japan's Asahi Group for about $11.3bn (R157bn).  AB InBev, which cemented its position as the world's largest brewer with its 2016 takeover of Johannesburg-born SABMiller, also said it will continue to evaluate a potential listing of Budweiser Brewing Company Asia Pacific. SABMiller bought Foster's Group in 2011 in a deal that included CUB. AB InBev said that as part of the deal with Asahi, it will give the Japanese brewer rights to commercialise its portfolio of international brands in Australia.

South32 delivers strong production finish as nears end of $1bn capital return programme

By David McKay - July 18, 2019 SOUTH32 delivered higher-than-revised manganese production from its South African assets, completing a strong finish to its 2019 financial year with similar performances at its aluminium, metallurgical and silver and lead operations. The group also said it was edging towards finalising the sale of its South African thermal coal mines - with an update due by the calendar year-end - and has set about "portfolio adjustment" of its upstream manganese facilities, also in South Africa. Graham Kerr, South32 CEO, described the quarter as "a strong finish" for a year in which the group all but completed its $1bn capital return programme. Some $986m had been returned in share buy-backs and cash payments as of the quarter-end raising the question as to the group's approach to returns for the 2020 financial year. "We had a strong finish to the year, with revenue equivalent production growing 10% in the quarter and three percent for the year," said Kerr in commentary to the fourth quarter production update. "We achieved record annual production at Hillside Aluminium, increased production at Illawarra Metallurgical Coal by 57% and delivered 5.5 million tonnes (Mt) of manganese ore into a favourable market," he added. Shares in South32 were about 1.6% weaker on the Sydney Stock Exchange. The share has been under pressure losing about a third of its value since mid-year.

Fed signals buoy European shares, AB InBev jumps

(Adds comment, details) July 19 (Reuters) - Shares in Europe rose across the board on Friday as comments from a Federal Reserve official cemented the case for a U.S. interest rate cut this month, with brewer Anheuser-Busch InBev leading blue chip gains after moves to reduce its debt burden. New York Fed President John Williams said on Thursday policymakers could not wait for economic disaster to hit before adding stimulus, reviving expectations of a deeper rate cut in July and sparking a rally in shares worldwide Markets have fully priced in a 25 basis point cut by the Fed this month, but a batch of strong U.S. data recently had dimmed hopes of an aggressive cut and weakened the positive global mood that has driven stock markets higher since May. The pan-European stocks benchmark, which hit a 3-week low on Thursday, rose 0.7% by 0819 GMT. "The question is not that will a rate cut happen, but will the size of the cut itself will be 0.50 bps instead of 0.25 bps, because there is uncertainty over the size of what the interest rate cut will be at the upcoming Fed meeting," Spreadex analyst Connor Campbell said. "Markets haven't had a great week so any sign of extra dovishness will be taken as a positive." Poor earnings over the last two sessions had threatened to take the index lower on the week, but if Friday's gains hold, the STOXX will end the week higher for the sixth time in seven weeks. Much of the rally, from what were the sharpest monthly declines in more than two years in May, has been spurred by signals from major central banks that they would take a more accommodative stance to offset the impact of a prolonged and bruising trade war between the United States and China. Belgium-based Budweiser owner Anheuser-Busch InBev jumped 5.2% after the debt-heavy brewer said it had agreed to sell its Australian operations to Japan's Asahi and was still interested in revi

GLOBAL MARKETS-Asia stocks firm as Fed props up rate cut expectations

* MSCI Asia-Pacific index up 1%, Nikkei gains 1.65% * Dovish views from Fed's Williams cement rate cut expectations * U.S. yields fall, gold hits 6-year high on Fed rate cut prospect * Crude bounces after U.S. Navy destroys Iranian drone * Asian stock markets: tmsnrt.rs/2zpUAr4 By Shinichi Saoshiro TOKYO, July 19 (Reuters) - Asian stocks advanced on Friday after a top Federal Reserve official cemented expectations of a U.S.

The big business of traffic fines

The issuing of fines for speeding and other traffic violations has grown into a multi-billion rand industry in SA. Most people would agree that strict rules and stern policing are necessary to improve road safety, especially against the backdrop of an increasing number of cars on the road and ongoing technological advancements that are making cars faster year after year. At the same time, motorists could feel persecuted by traffic officials carrying thick books with lists of potential offences - every one with a hefty price tag.

Jo'burg grants dodgy fleet tender

This is the second part of a series investigating how the City of Johannesburg has been using loopholes in its procurement processes to award lucrative contracts amounting to more than R3.9-billion. The M&G Data Desk delves into how Avis Fleet scored a multimillion-rand contract A self-created emergency at the City of Johannesburg's (CoJ) supply chain management division has resulted in a R300-million largesse for Avis Fleet (AF).The city awarded a multimillion-rand contract to provide waste management equipment to Zeda Car Leasing, which trades as Avis Fleet, through an emergency deviation from normal tender processes after delays of almost two years in finalising specifications for the tender. The contract tasks Avis Fleet with the provision of waste management services, ad hoc rentals and maintenance of vehicles for Pikitup on a month-to-month basis for one year at a cost of R372-million.

Mid Cap Darlings - Spar

The SPAR Group is wholesale and retail distributor of food, drink, building and pharmaceutical products founded in 1963, now home to 350 000 employees serving clients through 2138 stores in nine countries including South Africa, Namibia, Botswana, Mozambique, Swaziland, Zambia, Switzerland and Ireland. SPAR Group South Africa is now reported to be the second largest retailer locally measured by turnover. Business Model: The Group works both as a wholesaler as well as a distributor of some of your favourite consumption goods, and liquor and beverages through SPAR TOPS as well as DIY and building material through the Build It franchise.

SA's state-owned companies: a complex history seldom told

The problems of South Africa's state owned enterprises are in the headlines every day. Yet many have existed for over 80 years. Why were they established in the first place and how have they survived this long? Their histories provide clues for their successes and failures.

Here's what the Sarb rate cut means for the economy, financial assets

The SA Reserve Bank's monetary policy committee settled on a rate cut of 25 basis points for the first time since March 2018. They met the expectations of a strained economy of South Africans. Annabel Bishop, Chief Economist, Investec and Isaah Mhlanga, Executive Chief Economist, Alexander Forbes Investments join CNBC Africa for more..

Rand firms while global markets jittery on trade talks

British American Tobacco up almost 6%. Equity markets in Europe were subdued towards the end of the trading day, with much of the same in the US market with the Dow, Nasdaq and S&P 500 in negative territory. However, the local market bucked the trend, with the Alsi trading up 0.37%. The Reserve Bank announced a 25 basis point rate cut and the rand firmed against major currencies.

Business Maverick: Pain From Hong Kong Protests Spreads as Luxury Names Get Hit

The impact from the Hong Kong protests is spreading to global luxury retailers, with jewelry and cosmetics getting hurt as shoppers and big-spending travelers stay away. Swiss luxury-goods maker Richemont became the latest casualty, saying Thursday the street demonstrators dealt a blow to local sales. The owner of Cartier and Van Cleef & Arpels echoed Swatch Group AG in saying that the unrest in Hong Kong, the top export market for Swiss watches, weighed on sales due to store closures and lower tourist arrivals.

Business Maverick: Women continue to bump their heads against the glass ceiling

Progress on improving gender diversity in senior roles at large firms across the globe has been mediocre at best. At this rate, the business world won't significantly address the inequality any time soon, if the many research reports are to believed. And when it comes to the most powerful position in a company‚ women remain conspicuously absent..

Cartrack shareholders dismiss offer

A mandatory offer was triggered after CEO Zak Calisto's investment company took a 68% stake in the group. Minority shareholders in Cartrack have declined an offer to buy them out. The offer was made at a 30% discount to its closing share price on Wednesday.

Women in Business Celebration Event at Seven Sisters Vineyards

Stellenbosch Magazine offers thought-provoking publications aimed at inspiring, informing, and uplifting both communities and top-level decision makers in their respective fields. Our publications and events are geared to achieve measurable results for our clients. Over the years the company has provided a balance between the interests of the private and public entities that drive the African economic Agenda.

Repo rate cut; rand rallies; Richemont rides online wave; property market optimism; Eskom Bigwig wanted

The South African Reserve Bank has cut its benchmark interest rate for the first time since March 2018 as it almost halved its economic growth forecast for the year. It was a unanimous decision by the Monetary Policy Committee to lower the repurchase or repo rate by 25 basis points to 6.5% per annum. The bank lowered its growth forecast for the year to 0.6% from 1% in May.

African princess back in business

Bay afro-soul singer Camagwini makes a return to music after a five-year hiatus to "live a normal life" following the birth of her first child in 2.

PICS: Daily News teams up with Bidvest Panalpina Logistics at needy crèche for #MandelaDay2019

Durban - Mandela Day came early for the children at Qalakahle Early Childhood Development in Durban on Wednesday when The Daily News and Bidvest Panalpina Logistics visited, bearing food donations and toys. The Daily News Milk and Welfare Fund has been going for 82 years. It collects cash donations from the public, companies and Independent Newspapers' staff, which is used to buy and distribute milk and milk powder to schools and crèches in KwaZulu-Natal.

Archive documents reveal the US and UK's role in the dying days of apartheid

It is a quarter of a century since the end of apartheid in South Africa. But it's easy to forget how complex, difficult and violent the birth of full democracy really was. This was particularly true in KwaZulu-Natal, where battles between the African National Congress (ANC) and the mainly Zulu Inkatha Freedom Party (IFP) claimed the lives of as many as 20,000 in the decade between 1984 and 1994.

Time To Invest In Exchange Traded Funds?

Managing your own portfolio has possibly never been harder with the JSE experiencing its fair share of companies with skeletons from Pembury, to Ayo to Tongaat. Is it time to invest in exchange trade funds and if so how do you separate the wheat from the chaff? To find out CNBC Africa's Fifi Peters is joined by Chris Rule, Head of Products and Client Solutions at Coreshares and Mike Brown, Managing Director, etfSA.co.za. The post appeared first on iAfrica.com ..

Amplats maintains full-year guidance

Anglo American Platinum (Amplats) still expects to achieve its full-year metal-in-concentrate production guidance of 4.2-million to 4.5-million platinum group metal (PGM) ounces. For the second quarter, its PGM output increased by 1% to 1.12-million ounces. Its own-managed mines' PGM production decreased by 4% to 633 600 oz, owing to lower production from Mogalakwena and Mototolo.

MTN appoints former Vodacom CEO

Yolanda Cuba has been appointed the new Group Chief Digital and Fintech Officer of MTN. On Thursday, 18 July 2019, MTN Group announced the appointment of Yolanda Cuba as new Group Chief Digital and Fintech Officer. She joins MTN Group from Vodacom, where she served as Chief Officer of Strategy and M&A.

Many online portals just don't understand monetisation

Print Email There are still an enormous number of online portals, particularly in the media industry, that have been battling along for years trying desperately to make money, but only managing to break even at best. These are the online ventures that still cling to the belief that the way to make money is to provide quality content and then flog ads, just like newspapers and magazines, or sponsorships of sections, just like radio and TV, along with banners, bubbles and all sorts of other goodies they dragged across into the online environment from the ark. I know of some online portals that have up to half a million subscribers and still they battle to make ends meet.

I'm not corrupt, says Matjila

JOHANNESBURG - Former PIC CEO Dan Matjila won't take the fall for the asset manager's involvement in the VBS Mutual Bank saga . Matjila was on the stand for the seventh day at the PIC Inquiry. Matjila said  Paul Magula leaked information about Lancaster and Ayo to the media.

Tekkie Town premises in CBD almost ready

The top floor of the OK building in Meade Street is the future head office of Tekkie Town. Photo: Alida de Beer GEORGE NEWS - The construction work on the upper floor of the OK Bazaar building in Meade Street to accommodate 190 staff members of the Tekkie Town head office is nearing completion. According to Tekkie Town CEO Riaan van Rooyen, the finishing touches will be completed soon and then they are on track to move in at the end of October.

Moyo victimised by Old Mutual over whistle-blowing, Dali Mpofu tells court

Peter Moyo's lawyer, advocate Dali Mpofu, says the axed Old Mutual CEO is a victim of the insurer's inability to protect whistle-blowers. "What we are really [dealing] with here is a case of victimisation," said Mpofu on Thursday during an urgent high court hearing between the two parties. "The so-called breakdown in relationship is actually manufactured, it's not real so the employer cannot benefit from it."  Advocate Tembeka Ngcukaitobi, also representing Moyo, said the only reason Moyo was fired was because of his conflict with Old Mutual chair Trevor Manuel and because of interviews he had with the media on the day of his suspension in May.

CFA Society South Africa Announces Conference Agenda and Speakers for Flagship Event

CFA Society South Africa, part of the worldwide network of CFA Institute member societies, today announces the agenda and speaker line-up for its annual investment conference to take place on 25 July 2019 at the Maslow Hotel, Johannesburg. Gary Baker, CFA, Managing Director for CFA Institute in EMEA will deliver the opening remarks, and will address the importance of Africa and South Africa to the future of the investment industry and growth of the global capital markets. Headlining speakers include Dr Ronald Kahn, Managing Director, Global Head of Scientific Equity Research at Blackrock.

Legal Advisor urgently needed: APPLY HERE

Legal Advisor urgently needed: APPLY HERE Sandton, Gauteng RTF Template Legal Advisor (#27477) at Guardrisk MMI Holdings Limited (MMI) is a South African based financial services group listed on the South African stock exchange, the JSE. The group operates in the market through several client-facing brands including Metropolitan and Momentum, South Africa's number one cell captive insurer Guardrisk and wellness & rewards programme Multiply. MMI operates on the African continent, United Kingdom, and India through a direct presence, strategic partnerships and joint ventures. MMI's purpose is to improve the lifetime Financial Wellness of people, their communities and their businesses.

S.Africa's Liberty sees H1 earnings to rise

JOHANNESBURG, July 18 (Reuters) - South African insurer Liberty Holdings Ltd said on Thursday half-year earnings are expected to jump at least 45% as the firm proceeds with its turnaround plan. Normalised headline earnings per share, a key profit measure that excludes certain one-off items, is expected to be between 698.9 cents and 747.1 cents per share for the six months ended June 30, up from 482 cents a year earlier. "Progress is being made towards rebuilding a competitive and sustainable business, resulting in improved operating earnings whilst the focus on new business volumes continues," the firm said in a statement.

UPDATE 1-Voyager Air shelves $200 mln London IPO

(Adds company comment, details on recent IPOs, market conditions) July 18 (Reuters) - Voyager Air Limited ( IPO-VOY.L ) on Thursday put off its plans for an initial public offering on the London Stock Exchange, citing "unfavourable market conditions". The company had said last month that it planned to raise up to $200 million through a listing on the London Stock Exchange to support its new aircraft leasing business. "The company is grateful for the support it has received from institutions in recent weeks and intends to reactivate the IPO at a later date," it said.

Watch sales stall at Richemont as Hong Kong protests bite

Strong demand in mainland China helped Cartier-owner Richemont offset a weaker performance elsewhere in its first quarter, as protests in Hong Kong hit sales, revenues fell in Europe and its watch business faltered. Photo: Jaeger-LeCoultre - Instagram The group relies on jewelry for the bulk of sales, with brands that also include Van Cleef & Arpels, and strong momentum in this sector has persuaded rivals, including Kering's Gucci, to branch into high-end gems. But Geneva-based Richemont is also a major player in the tougher watch industry, which is under pressure more broadly as consumers tastes shift, and has now been hit by political protests in recent weeks in Hong Kong.

PODCAST | Business Day Spotlight: SA needs an interest-rate reprieve

Is the Reserve Bank on the right track? And just what constitutes the ‘right track'? In this edition of Business Day Spotlight, the focus is on SA's monetary policy as the SA Reserve Bank is set to make an interest-rate decision on Thursday July 18 2019. Our host Mudiwa Gavaza is joined on the line by Tumisho Grater, economic strategist at Novare. In this discussion, Gavaza and Grater explore news and developments around the Bank.

Coca-Cola HBC to open Costa Coffee outlets in several markets in 2020

July 18 (Reuters) - Soft drink bottler Coca-Cola HBC AG said on Thursday it will open Costa Coffee outlets in several markets next year, months after Coca-Cola Co bought the cafe chain from Whitbread in a $5.1 billion deal. The company, which sells Coca-Cola drinks in 28 countries mostly in Europe, plans to launch Costa Coffee in at least 10 of those markets, including Bulgaria, Greece, Hungary, Poland, Romania, Russia and Switzerland. ($1 = 0.8015 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Bernard Orr).

A philosopher accused of sexual harassment started a company to advise on business ethics

A newly created consultancy firm is planning to give corporations a strategic edge, not with legal or technological advice, but philosophical insights. Philosophical Applications , launched just three weeks ago, offers services to companies in need of "ethical awareness" guidance and "catastrophe anticipation and avoidance." The company is leaning on several of the most famous living philosophers to draw clients, with an eminent list of academic advisors. But while it has a robust philosophical grounding, its practical ethics are shakier: The company is headed by Colin McGinn, a prominent philosopher who left his tenured position at the University of Miami following accusations of sexual harassment in 2013.

CEE MARKETS-Stocks track global peers lower on trade fears

(Corrects final paragraph to read 1.4620 not 11.4620) By Alan Charlish WARSAW, July 18 (Reuters) - Central European stocks fell on Thursday, tracking losses overnight in Asia and the United States as fears over global trade continued to worry investors. U.S. President Donald Trump spooked world markets on Tuesday by saying the United States still has a long way to go to conclude a trade deal with China but could impose tariffs on an additional $325 billion worth of Chinese goods if it needed to do so.

Liberty sees H1 earnings to rise

Interims to be released on August 1. Liberty Holdings said on Thursday half-year earnings are expected to jump at least 45% as the firm proceeds with its turnaround plan. Normalised headline earnings per share, a key profit measure that excludes certain one-off items, is expected to be between 698.9 cents and 747.1 cents per share for the six months ended June 30, up from 482 cents a year earlier. "Progress is being made towards rebuilding a competitive and sustainable business, resulting in improved operating earnings whilst the focus on new business volumes continues," the firm said in a statement. Liberty Holdings' interim results will be released on August 1..

Besieged Deloitte fights back

The audit firm, already under scrutiny with Steinhoff and Tongaat, isn't rolling over and playing dead.

Yolanda Cuba to join MTN as Group Chief Digital and Fintech Officer

MTN Group has announced the appointment of Yolanda Cuba as Group Chief Digital and Fintech Officer. Yolanda will join the MTN Group Executive Committee reporting to the Group CEO Rob Shuter. In this role Yolanda will lead the Group's strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator.

#MandelaDay: AfriBiz Invest builds three homes for elderly

Johannesburg - Three destitute Gauteng families moved into brand new furnished brick and mortar houses on Mandela Day, which were donated to them by AfriBiz Invest and the Collen Mashawana Foundation. The three families have similar stories. They are families where the destitute elderly support their grandchildren, with the parents estranged from the families.

Mandela Day charity events in Gauteng

Make a difference this Mandela Day by getting involved in these projects happening in and around Gauteng. It's Mandela Day - a day when we get to help others in honour of the late Nelson Mandela.  If you are looking for activities in and around Gauteng that will impact the lives of others, we have you covered.  We have put together a list of Mandela Day events that are happening in the province. Mandela Day Mosaic HyProp, in collaboration with Rhodes Quality, will be donating 27,000 tins of canned food for the Mandela Day Mosaic.  The public is encouraged to participate by helping put together one of the largest food can mosaics ever constructed in South Africa.

S.Africa's Liberty sees H1 earnings to rise

JOHANNESBURG, July 18 (Reuters) - South African insurer Liberty Holdings Ltd LBHJ.J said on Thursday half-year earnings are expected to jump at least 45% as the firm proceeds with its turnaround plan. Normalised headline earnings per share, a key profit measure that excludes certain one-off items, is expected to be between 698.9 cents and 747.1 cents per share for the six months ended June 30, up from 482 cents a year earlier. "Progress is being made towards rebuilding a competitive and sustainable business, resulting in improved operating earnings whilst the focus on new business volumes continues," the firm said in a statement. Liberty Holdings' interim results will be released on August 1..

#MandelaDay: AfriBiz Invest builds three homes for the elderly

Johannesburg Three destitute Gauteng families moved into brand new furnished brick and mortar houses on Mandela Day which were donated to them by AfriBiz Invest and the Collen Mashawana Foundation. The three families have similar stories. They are families where the destitute elderly support their grandchildren with the parents estranged from the families. They have been living in shacks for over two decades. The Collen Mashawana Foundation donated the houses to the three families the Baleke and Nyatikazi families in Soshanguve Pretoria and the Mohebedo family in Nigel Ekurhuleni. Gauteng Premier David Makhura swapped his Nigerian inspired attires for an overall and a hard hat on Thursday morning as he and some volunteers were seen painting the houses during a hand over on Mandela Day. These families have had no houses for over 20 years said philantrophist and businessman Collen Mashawana who is also the executive chairperson of AfriBiz Invest a company with interests in the construction water and sanitation development infrastructure and property development sectors.  Mohebedo familys old shack in Nigel will be demolished today in exchange for a new brick house.

MIDEAST STOCKS-Abu Dhabi outperforms thanks to banks, other Gulf markets mixed

* FAB highest in nearly three months * Nine of 11 Saudi banks decline * Saudi snaps eight-day winning streak By Ateeq Shariff July 18 (Reuters) - Stocks in the United Arab Emirates surged on Thursday, outperforming most major Gulf markets, boosted by strong earnings at top lenders. In Abu Dhabi, the index closed 2.7% higher, buoyed by First Abu Dhabi Bank (FAB), which rose 4% to its highest level since May after posting a 5% rise in second-quarter net profit. The bank recorded a net profit of 3.2 billion dirhams ($871 million) in the quarter ending June 30, versus 3.06 billion dirhams a year earlier. Similarly, the Dubai index climbed 1.7%, driven by a 2.7% rise in Emirates NBD after the bank announced an 80% jump in second-quarter earnings. The bank made a net profit of 4.74 billion dirhams ($1.29 billion) in the three months to June 30, helped by an asset sale and foreign exchange gains. EFG Hermes had expected a net profit of 4.06 billion dirhams. The results reinforced signs that top banks in the UAE are managing to withstand strains from a sluggish economy and a property downturn in Dubai. Emirates NBD said on Wednesday it had received permission to open 20 more branches in Saudi Arabia. Egypt's blue-chip index advanced 0.2%, with Cairo Investment and Real Estate Development jumping 6.8%. Saudi Arabia's main index fell 0.5%, ending eight straight days of gains triggered by EFG Hermes forecasting that profits for the kingdom's financial sector would grow 7.6% in the second quarter. Nine of 11 Saudi banks fell. Al Rajhi Bank lost 0.7%, while National Commercial Bank was down 0.9%. Qatar's index dropped over 1% with 17 of 20 stocks declining.

BACKSTORY: 27four MD Fatima Vawda

We question Fatima Vawda, managing director of 27four What's your one top tip for doing a deal? It's all about people as they represent the culture of an organisation. Price can always be negotiated but culture cannot. What was your first job? Lecturer in the department of computational & applied mathematics at Wits University. What's the one movie you could watch over and over again? The Great Escape, a classic American war film starring Steve McQueen backed by the anthem-like Prussianesque march soundtrack composed by Elmer Bernstein. What was the one thing you wish somebody had told you when you were starting out? Beware of the unconscious biases that exist in corporate SA. What are you reading at the moment? I'm still working my way through Thomas Piketty's Capital in the Twenty-First Century. The book focuses on the sources of global wealth and income inequality and the interventionist policy mechanisms that could be used to arrest the threat of worldwide social and economic instability. Nominate your eighth wonder of the world. Walking the streets of the medina in Fez in Morocco. What is your biggest regret? Not learning how to code. What's the most interesting thing about you that people don't know? I consider myself an expert baker. How much was your first pay cheque, and how did you spend it? R3,500.

Nationalisation, privatisation, land: What Mandela told business in 1990 still resonates today

Just under three decades ago, Nelson Mandela addressed 300 business executives at a conference convened by the Consultative Business Forum in Johannesburg on the theme: 'Options for Building an Economic Future'. He touched on issues that South Africa still grapples with, including nationalisation, privitisation, land reform, inequality, public finances, unions and capital flight. A transcript of the address, still timely and relevant, is published on SA History Online .

Archive Documents Reveal The US And UK's Role In The Dying Days Of Apartheid

It is a quarter of a century since the end of apartheid in South Africa. But it's easy to forget how complex, difficult and violent the birth of full democracy really was. This was particularly true in KwaZulu-Natal, where battles between the African National Congress (ANC) and the mainly Zulu Inkatha Freedom Party (IFP)  claimed the lives of as many as 20,000  in the decade between 1984 and 1994.

Business Maverick: Rescue, Rehabilitate, Release - the story of a rhino orphaned by poaching

Hoedspruit Endangered Species Centre (HESC) has for the first time, successfully released two rhino orphaned from poaching. As the gates opened, and the tentative pair crossed the threshold into the reserve, the magnitude of the moment became apparent. Tears and laughter were shared as Gertjie and Matimba were given a second chance at life, and procreation.

#MandelaDay2019: AfriBiz Invest builds three homes for the elderly

Johannesburg Three destitute Gauteng families moved into brand new furnished brick and mortar houses on Mandela Day which were donated to them by AfriBiz Invest and the Collen Mashawana Foundation. The three families have similar stories. They are families where the destitute elderly support their grandchildren with the parents estranged from the families. They have been living in shacks for over two decades. The Collen Mashawana Foundation donated the houses to the three families the Baleke and Nyatikazi families in Soshanguve Pretoria and the Mohebedo family in Nigel Ekurhuleni. Gauteng Premier David Makhura swapped his Nigerian inspired attires for an overall and a hard hat on Thursday morning as he and some volunteers were seen painting the houses during a hand over on Mandela Day. These families have had no houses for over 20 years said philantrophist and businessman Collen Mashawana who is also the executive chairperson of AfriBiz Invest a company with interests in the construction water and sanitation development infrastructure and property development sectors.  Mohebedo familys old shack in Nigel will be demolished today in exchange for a new brick house. Picture: Supplied One of the houses built by the Collen Mashawana Foundation in Soshanguve for the families. Picture: Supplied Mashawana said they received hundreds of requests to build houses for the poor and this year alone they had built 14 already he said. His company also bids for government contracts and is involved in a massive housing project in Pretoria where they are building more than 17 000 lowcost houses he said. We get hundreds of requests we assess all requests and see what we can do for families headed by disabled people and old people he explained.

Archive documents reveal the US and UK's role in the dying days of apartheid

Newly elected South African president Nelson Mandela and deputy president Frederik De Klerk in May 1994 at Tuynhuis in Cape Town. EPA/Nic BothmaIt is a quarter of a century since the end of apartheid in South Africa. But it's easy to forget how complex, difficult and violent the birth of full democracy really was.

MR PRICE GROUP LIMITED - Dealings in securities by associate of director

Dealings in securities by associate of director Mr Price Group Limited (Registration number 1933/004418/06) Incorporated in the Republic of South Africa ISIN: ZAE000200457 JSE and A2X share code: MRP DEALINGS IN SECURITIES BY ASSOCIATE OF DIRECTOR In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Director: Stewart Cohen Company: Mr Price Group Limited Associate: The Catregav Investment Trust Relationship to associate: Trustee and beneficiary Nature of transaction: On-market disposal of securities by associate of director Date of transaction: 12 July 2019 Number of securities: 100,000 Class of securities: Ordinary shares Volume weighted average selling price: R198.5805 per ordinary share Total value of transaction: R19,858,050.00 Highest price: R198.81 per ordinary share Lowest price: R197.61 per ordinary share Nature of interest: Dealing by an associate of a director, direct beneficial Clearance obtained: Yes Durban 18 July 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 18/07/2019 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Pain From Hong Kong Protests Spreads as Luxury Brands Get Hit

(Bloomberg) -- The impact from the Hong Kong protests is spreading to global luxury retailers, with jewelry and cosmetics getting hurt as shoppers and big-spending travelers stay away. Swiss luxury-goods maker Richemont became the latest casualty, saying Thursday the street demonstrators dealt a blow to local sales. The owner of Cartier and Van Cleef & Arpels echoed Swatch Group (SIX:UHR) AG in saying that the unrest in Hong Kong, the top export market for Swiss watches, weighed on sales due to store closures and lower tourist arrivals. With restaurants and consumer brands already affected, retailers now face a widening disruption as shops from the city center to Hong Kong's suburbs have been forced into early closures due to a lack of customers. A peaceful gathering of tens of thousands of protesters last Sunday turned into a fight with the police at a mall in Sha Tin on the city's outskirts.

3 steps towards "glass boxing" your company with a Biz Press...

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Can EOH erase the stain?

As suspicious or corrupt deals worth R1.2bn are revealed, investors will need to be convinced this is the last of it.

PICS: Daily News teams up with Bidvest Panalpina Logistics at needy crche for #MandelaDay2019

Durban MANDELA Day came early for the children at Qalakahle Early Childhood Development in Durban when the Daily News and Bidvest Panalpina Logistics visited bearing food donations and toys.The Daily News Milk and Welfare Fund has been going for 82 years. It collects cash donations from the public companies and Independent Newspapers staff which is used to buy and distribute milk and milk powder to schools and crèches in KwaZuluNatal. Thanks to these donations the Daily News team took with them milk and baby formula plastic bowls and spoons for the centre.

Field of dreams entices young farmer

Durban Thabiso Sithole was just 23 and still studying for a commerce degree at the University of KwaZuluNatal when he decided to become a farmer.Now just under five years since quitting his first postdegree job a threemonth stint as a data capturer at Unilever he is running a successful small cattle and forestry farm in Mooi River.Sithole coowner and director of Red NS Holdings won the smallscale category Forestry Excellence Award in the Department of Agriculture Forestry and Fisheries (DAFF) recently.Sithole started the business in 2015 after securing the portion of a farm from the Department of Rural Development and Land Reform which had bought the land from a farmer who had decided to quit owing to climate change. I had to weigh up my options and I saw that a lot graduates were sitting at home. One of the areas I had studied was the supply chain and I saw that there was waste and where there is waste there is profit to be made.

Affinity Shipping arranges first LNG freight derivatives trade

LONDON, July 18 (Reuters) - * Liquefied natural gas (LNG) brokerage Affinity Shipping said it had arranged the first LNG freight derivatives trade, settled against Baltic Exchange spot price assessments. * The trade was between Total Gas & Power and Glencore and was arranged over-the-counter by Affinity Financial Products. * Tight vessel availability last winter quadrupled charter rates which are a key component of spot LNG trade, dictating the way the super-cooled gas is transported.

Corruptiontainted EOH Mthombo to be shuttered

Underfire IT services provider EOH is looking to ringfence problematic contracts into a single entity.This after law firm ENSAfrica this week found evidence of a number of governance failings and wrongdoing at the JSElisted company.EOH asked ENSAfrica to conduct a proactive comprehensive investigation into the IT services companys contracts to identify any wrongdoing or criminal conduct in the acquisition award or execution of contracts.The company says from the probe suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica.EOHs problems surfaced after software giant Microsoft in February terminated its contract with the IT services company after an anonymous whistleblower reportedly filed a complaint with the United States Securities and Exchange Commission about alleged malfeasance to do with a contract with the SA Department of Defence.The company this week held a media briefing where it outlined how the corruption unfolded at the entity as well as the remedial actions it is taking.In the press briefing EOH CEO Stephen van Coller blamed eight people for the corruption. He pointed out that corrupt payments were largely related to contracts entered into between 2014 and 2017.Following these developments an EOH spokesperson told ITWeb it is anticipated EOH Mthombo the subsidiary that was largely implicated in the suspicious payments will be closed within two years.According to the spokesperson EOH Mthombo client contracts will be ceded to another appropriate legal entity within the group to ensure continuity and continued service delivery for our clients subject to the required regulatory approvals and client consent.This forms part of EOHs reorganisation process for enhanced governance which includes the ringfencing of problematic contracts from the past into a single entity to provide focused management and resolution of the issues.With respect to the suspicious payments from EOH Mthombo the spokesperson reiterated the wrongdoing took place be

Rand retreats, bonds flat

JOHANNESBURG - The rand edged lower yesterday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. At 5pm, the rand bid at R13.9712 to the dollar, 6 cents softer than at the same time on Tuesday, inching closer to the R14 mark that has in recent times determined the momentum of the currency either direction. The SA Reserve Bank meets today.

SA's most valuable brands

could be a source of growth and job creation for the economy, says the head of Brand Finance, which has just released its latest report on the strongest and best performing local brands If ever there was a case for companies to pay more attention to brand development, the latest Brand Finance list of top SA brands makes the point. Those that feature are defying a struggling SA economy and recording healthy brand value growth, outpacing the country's GDP, with a combined 16.1% brand value growth rate year on year. And the top 10 have recorded impressive 19.8% growth. Telecoms companies remain the giants in the brand room, claiming first and second position.

Anglo lowers diamond output in difficult market

The miner offsets reduced iron ore from SA with increased production from Minas-Rio in Brazil as it keeps full-year group forecast steady Anglo American, one of the world's major diversified resources companies, lowered full-year production targets at two key subsidiaries in diamonds and iron ore, but kept its group forecast "broadly" intact. Anglo, which is listed in London and Johannesburg, noted, however, that its output, when measured as a copper equivalent, rose by 2% in the quarter to end-June, with its historically difficult Minas-Rio iron ore mine in Brazil ramping up production ahead of target. Anglo said the group production increase was based on normalised figures to account for the closure of the Voorspoed diamond mine in SA and the move to a toll-treatment agreement with Sibanye-Stillwater at its Anglo American Platinum subsidiary from a purchase-of-concentrate arrangement. The two stand-out updates in the production data were the reductions in diamond output at De Beers and iron ore from Kumba Iron Ore. "We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore," said Anglo CEO Mark Cutifani. De Beers, which is 85% owned by Anglo and is the world's largest source of diamonds by value, would reduce output to the bottom end of its 31-million- to 33-million-carat target to match weak market conditions, particularly for smaller, lower-value diamonds. De Beers noted a 14% drop in second-quarter production to 7.7-million carats, which brought interim output to 15.6-million carats, an 11% decline year on year. Total sales volumes for the interim period fell 12% to 16.5-million carats, with average prices dropping to $151/carat from $162/carat in the same period a year earlier. "De Beers, in view of prevailing market conditions, will continue to produce to demand for the year," said Cutifani. Kumba, which is SA's and Africa's largest iron ore producer, reported out

JSE could open lower ahead of interest rate decision

SA stocks could follow global markets lower on Thursday, ahead of the SA Reserve Bank's expected interest rate announcement later in the day. The Wall Street Journal reported overnight that US-China trade talks were effectively deadlocked over restrictions on technology group Huawei. The S&P 500 Index closed 0.7% lower overnight. "Risk assets dipped as trade uncertainty continued to weigh and earnings reports sent mixed signals on the state of the US economy," ANZ Banking Group said in a note. Asian stocks followed suit on Thursday. The Shanghai Composite was down 0.8%, Hong Kong's Hang Seng Index lost 0.5%, Japan's Nikkei 225 fell 1.8%, Korea's Kospi 0.3% and Australia's main benchmark 0.5%. WeChat owner Tencent declined 1.3% in Hong Kong, suggesting a weak opening for major shareholder and Africa's biggest public company, Naspers. JSE heavyweight BHP Group slumped 1.9% in Australia as commodities traded softer amid renewed trade concerns. Locally, sales updates are expected from miners Anglo American Platinum, Kumba Iron Ore, Anglo American and South32, while luxury goods group Richemont is expected to provide a quarterly trading update. "Bloomberg is cautious that Richemont's sales in Asia during the first quarter could come under pressure following protests in Hong Kong," analysts at FNB Securities said in a note. "The integration of lower-margin e-commerce deals, investment in e-commerce and marketing, and clean-out of watch inventories in wholesale could place pressure on the operating margin in the second half." Stats SA is due to publish data for May on civil debt cases, wholesale trade sales, motor trade sales and private-sector building activity. Meanwhile, the Reserve Bank is expected to announce a 25-basis-point interest rate cut on Thursday afternoon. Investec economists said in a note there was "an outside chance" of another cut in 2019. Consumer price inflation is expected to remain moderate for the foreseeable future, they said. Ahead of Thursday's rate call, the rand moved

Amplats says output down four percent in second quarter

Anglo American Platinum said on Thursday output from its own managed mines decreased by four percent to 633,600 ounces in the second quarter of 2019, due to lower production from its Mogalakwena and Mototolo operations. Joint venture platinum group metal (PGM) production, excluding Mototolo, decreased by four percent to 228,200 ounces, Amplats said, citing lower volume from Modikwa despite a strong performance from Kroondal. Production guidance for 2019 however remained unchanged at 4.2-4.5 million PGM ounces, the company said.

MTN Taps Yolanda Cuba as Group Chief Digital and Fintech Officer

Yolanda Cuba. Image source: Wiki Mzansi M TN Group today announced the appointment of Yolanda Cuba as Group Chief Digital and Fintech Officer. Cuba will join the MTN Group Executive Committee reporting to the Group CEO Rob Shuter.

South African Markets - Factors to watch on July 18

JOHANNESBURG, July 18 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday. ECONOMIC EVENTS - South Africa-Central Bank Rates-Repo Rate. 1300 GMT COMPANIES - Q1 2020 Vodacom Group VODJ.J Trading Statement Release. SOUTH AFRICAN MARKETSSouth Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. On the bourse, stocks fell alongside emerging market assets amid resurfacing worries over the U.S-China trade conflict. .J ZAR/ GLOBAL MARKETS The dollar slipped on Thursday as risk aversion in the broader markets pushed benchmark U.S.

Kumba's first-half sales increase reflective of improved rail performance

JSE-listed Kumba Iron Ore's sales for the six months ended June 30, increased by 1% to 21.3-million tonnes, while export sales increased by 2% to 19.9-million tonnes, ultimately reflecting an improvement in rail performance which allowed the miner to meet sustained demand. During the second quarter of the year, however, shipments had been hampered by severe weather disruptions and repairs to a stacker reclaimer at the Saldanha port, resulting in export sales decreasing by 4% to 9.8-million tonnes, relative to the 10.1-million tonnes of sales in the prior quarter. Operationally, production decreased by 11% year-on-year to 20.1-million tonnes for the six-months to June 30, but good progress had been achieved in the second quarter with production having increased by 11% quarter-on-quarter to 10.54-million tonnes.

Anglo American cuts diamond production goal as buyers balk

Demand for diamonds remains weak. Diversified miner Anglo American lowered its forecast for diamond production as demand from its customers slumped in the first half of the year. Anglo said its De Beers unit will now mine about 31 million carats this year compared with an earlier target of 31 million to 33 million carats. The company said it's producing to match demand after "weaker trading conditions" this year. Key insights Diamond miners are facing a mini crisis as demand remains weak, while supply, especially for smaller and cheaper stones, is abundant.

Old Mutual is victimising Moyo, says his legal team

In the high court, Peter Moyo says he was fired due to conflict with Old Mutual chair Trevor Manuel, who is ‘gunning for him' Peter Moyo's lawyer, Advocate Dali Mpofu, says the axed Old Mutual CEO is a victim of the insurer's inability to protect whistle-blowers. "What we are really doing with here is a case of victimisation," said Mpofu on Thursday during an urgent high court hearing between the two parties. "The so-called breakdown in relationship is actually manufactured, it's not real so the employer cannot benefit from it." Advocate Tembeka Ngcukaitobi, also representing Moyo, said the only reason he was fired was because of his conflict with Old Mutual chair Trevor Manuel and because of interviews he had with the media on the day of his suspension in May. Ngcukaitobi said Old Mutual has expanded its case to the court, including things that were not cited as reasons for Moyo's suspension. Moyo has accused Manuel of "gunning for him" because he had raised concerns that the former finance minister was conflicted in the handling of the split of its domestic business from the UK-based Old Mutual Plc.

Platinum a winner for unit trusts

Funds that bet on Implats, Amplats or a few other resource shares soared in the first six months of the year There have been contrasting returns among local unit trusts so far this year. Even funds which carry the "value" label have had different returns, with John Biccard's Investec Value giving 11.1%, and Nedgroup Investments Value less than 1%. The best performer overall, with a 13.9% return, was Sanlam Investment Management (SIM) Top Choice, a focused equity portfolio modelled on the Coronation Top 20 Fund, which in turn has given clients a respectable 9.2%. Fund manager Patrice Rassou says the team at SIM has created an investment process which fine-tunes the risk-return trade-off, to deliver optimal risk-adjusted returns. "We have been truly contrarian in our approach, buying beaten-down SA Inc stocks after the huge sell-off in 2008." One such contrarian bet paid off handsomely.

Aspen hosts more than 120 #MandelaDay projects in 40 countries

JOHANNESBURG JSE Limited listed Aspen Pharmacare Holdings Limited (APN) a global multinational specialty pharmaceutical company is again reaching out to less fortunate citizens through its Mandela Day projects being hosted on 6 continents.  Stephen Saad Aspen Group Chief Executive said This is the ninth year that we will participate in Mandela Day and in 2019 well do so through more than 120 projects in 40 countries. Our Groupwide effort is indicative of our international commitment to socioeconomic development and our actions remain closely aligned to our corporate tagline Healthcare. We Care.

Two killed in car vs bike accident

At 16H45 Wednesday afternoon Netcare 911 responded to reports of a collision on the R82 Vereeniging in the direction of De Deur. Reports from the scene indicate that a motorcycle and a light motor vehicle were involved in a collision. Paramedics assessed the scene and found that the driver of the car, a 52-year-old female sustained critical injuries.

Renault's Senard expects Nissan's new board to embrace alliance

(Adds Renault chairman comments, details, background) PARIS, July 18 (Reuters) - Renault is confident that alliance partner Nissan's new board will work to reinforce their partnership as it struggles to turn the page on the Carlos Ghosn scandal, Renault Chairman Jean-Dominique Senard said on Thursday. Nissan shareholders last month approved the appointment of a new board at the Japanese carmaker with a more international profile as well as Senard and his Renault Chief Executive Thierry Bollore. "There is a change," Senard told reporters in a briefing at Renault headquarters. "We have a new board that is conscious of its fiduciary duty. Let that board work." Speaking to the Anglo-American Press Association of Paris, Senard expressed confidence that Nissan directors would see alliance cooperation as essential in the face of challenges facing the auto industry.

Four reasons you should not cash in your retirement savings

Your actions now will have a very real effect on how you fare financially during retirement. Tempting as it may be to access your retirement savings in times of need by cashing in your retirement fund savings, it will make a significant dent in your retirement savings plan, if not crash it altogether. Changing jobs or being retrenched should never be viewed as an opportunity to access extra money in the form of your retirement savings, says Gary Fisher, Head: Member Education Services at Alexander Forbes.

Quantitative trading explained for people without a mathematics PhD - PART I

Thu, 18 Jul, 2019 - 11:28 Part I: "Mean Reversion"   The world of quantitative and algorithmic trading is a complex one - sometimes unnecessarily so. Generally speaking, it's an inaccessible one too: it requires some understanding of mathematics, programming proficiency, and the capital and tools to implement the strategies. The field is further complicated by terms understood only by those in the know such as  mean reversion  and  statistical arbitrage .   Is this a grand conspiracy to make the average Joe/Jane believe they are incapable of understanding quantitative trading? Perhaps; perhaps not. Regardless, the computer-driven techniques employed by hedge funds could assist you in your human-driven trading strategies too.  Many are under the impression that quantitative trading is one-part maths and two-parts black magic. In fact, any quantitative analyst (or simply "quant") worth their salt employs the scientific method in the same way as any physicists, astronomer or statistician would (it's no surprise that many quants originate from these fields).  Any algorithm begins as an observation of some phenomenon in the market - usually based on some intrinsic economic or fundamental principle and it's usually simpler than one would expect. For example, Anglo American Platinum (AMS) and Northam Platinum (NHM) are both in the exact same business. As they are affected by the same factors (platinum price, exchange rate, policies), it's reasonable to assume their share prices will move in tandem. There is an underlying relationship between the shares that quants seek to exploit. Every so often, one of the shares will become overvalued and the other will become undervalued - causing the relationship to be off balance. For the relationship to revert to normal, the overvalued share should theoretically drop and the overvalued should rise. By selling the overvalued share and buying the undervalued share, a neat profit can be ma

Zoleka Lisa a new SAB VP

AB InBev's SAB has appointed Zoleka Lisa as vice-president, corporate affairs, for SA AB InBev's SAB has appointed Zoleka Lisa as vice-president, corporate affairs, for SA. As part of her new role, Lisa will lead the organisation's public policy, transformation, entrepreneurship and sustainability strategy. She will also represent the company on the following boards: the SAB Foundation, AWARE.org and the Beer Association of SA. Lisa joined SAB in 2014 as regional strategic programmes manager for Africa and has worked across the business over the past five years. Before joining SAB, she spent nine years as a senior manager at Accenture.

Life Esidimeni saga: ‘It's a continuing nightmare'

The DA said the Life Esidimeni nightmare continues as relatives are now dissatisfied about their payouts. In a statement released this week, Jack Bloom, MPL and DA Gauteng Shadow Health MEC, said relatives of Life Esidimeni patients who survived the botched transfer to NGOs are dissatisfied that not all compensation claims have been paid and those that have been paid have only received 50 per cent of the stipulated amount of R1 180 000. In 2017, the Herald reported that over 140 psychiatric patients transferred from Life Healthcare Esidimeni died while in the care of various NGOs.

Miner Anglo American posts 2% rise in second-quarter output

July 18 (Reuters) - Miner Anglo American said on Thursday its overall output rose 2% in the second quarter, benefiting from a ramp up in iron ore production at its Minas-Rio mine in Brazil and increased metallurgical coal output. "We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore," Chief Executive Officer Mark Cutifani said in a statement. The global miner said Minas-Rio iron ore production for the quarter ended June 30 was 5.9 million tonnes and metallurgical coal output rose 11% to 5.8 million tonnes following the completion of maintenance in the prior quarter. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur) 2019-07-18 08.

De Beers lowers full-year output expectations on weaker demand

Diamond miner De Beers has revised its full-year production guidance downward to about 31-million carats, leaning towards the lower end of the previous range of between 31-million and 33-million carats, in response to weaker trading conditions experienced during the second quarter. De Beers is currently producing to demand and, in a statement issued on Thursday, the miner reported that the revision to its output guidance was as a result of rough diamond production having decreased by 14% to 7.7-million carats, mainly driven by reductions in Debswana, in Botswana, and De Beers Consolidated Mines (DBCM), in South Africa. Debswana's production decreased by 9% to 5.7-million carats, which was driven by a decrease at Orapa of 23%, to 2.5-million carats, following a planned plant shutdown brought forward from the second half of the  financial year.

Implats plans to embark on $250m debttoequity swop

JOHANNESBURG Cashflush Impala Platinum (Implats) yesterday announced plans to embark on a $250million (R3.48billion) debttoequity swop to bolster its balance sheet while making the most of the reprieve of surging metal prices and the weak exchange rate.Chief executive Nico Muller said the group was looking to redeem its convertible bond due in 2022 and ultimately introduce a dividend that was last paid in 2014.The optimisation of Implats balance sheet through a reduction and restructuring of existing debt is a key pillar of Implats strategy to reposition it as a profitable sustainable and competitive business with clear capital allocation priorities and ultimately a return to a dividend paying position Muller said. The group said the move was expected to provide reduced market volatility resulting in a saving of R114m a year if all bondholders take up the offer.Implats has been the bestperforming share on the JSE jumping 104percent in the year to date on the back of record rhodium and palladium prices.The increase in the rand platinum group metals basket price has been a welcome tailwind to Implats profitability and free cash flow generation Muller said. Rhodium and palladium prices have shot up in dollar terms while the rand has weakened against the US dollar helping platinum producers post profits for the first time in years.Implats cut its net debt from R4.4bn to R976m in the six months between June and December 2018 thanks to strong metal prices.

SABC hosted a Successful Radio Connect

The SABC's radio management held the first ever Radio Connect on the 9 th to the 10 th of July 2019, which took place at Mount Grace in Magaliesburg. The two day conference was a platform for big scale to medium advertisers to meet with 19 SABC Radio brands, discuss the developments in the radio advertising space, and showcase SABC Radio's vision and purpose for Connect. Its other objectives were to build on customer centricity, collaboration and trust.

#MandelaDay: Collen Mashawana builds three homes for elderly

Johannesburg Three destitute Gauteng families moved into brand new furnished brick and mortar houses on Mandela Day which were donated to them by the Collen Mashawana Foundation. The three families have similar stories. They are families where the destitute elderly support their grandchildren with the parents estranged from the families. They have been living in shacks for over two decades. The Collen Mashawana Foundation donated the houses to the three families the Baleke and Nyatikazi families in Soshanguve Pretoria and the Mohebedo family in Nigel Ekurhuleni. Gauteng Premier David Makhura swapped his Nigerian inspired attires for an overall and a hard hat on Thursday morning as he and some volunteers were seen painting the houses during a hand over on Mandela Day. These families have had no houses for over 20 years said philantrophist and businessman Collen Mashawana who is also the executive chairperson of AfriBiz Invest a company with interests in the construction water and sanitation development infrastructure and property development sectors.  Mohebedo familys old shack in Nigel will be demolished today in exchange for a new brick house.

South African Markets - Factors to watch on July 18

KUMBAIO:   47,483     0 (0.00%)   18/07/2019 00:00 JOHANNESBURG, July 18 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday. ECONOMIC EVENTS - South Africa-Central Bank Rates-Repo Rate. 1300 GMT COMPANIES - Q1 2020 Vodacom Group Trading Statement Release. SOUTH AFRICAN MARKETS South Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. On the bourse, stocks fell alongside emerging market assets amid resurfacing worries over the U.S-China trade conflict. GLOBAL MARKETS The dollar slipped on Thursday as risk aversion in the broader markets pushed benchmark U.S. yields to a nine-day low. The dollar index .DXY versus a basket of six major currencies was down 0.2% at 97.081. WALL STREET U.S.

How Capisol Software's cloud-native platform can put your business's cash flow a ‘click above the rest'

Since its inception, thinking outside the box in order to solve the cash flow challenges faced daily by accountants, FDs and CFOs has been at the very core of Capisol Software's innovative business model. This is according to Christopher de Zeeuw, founding partner and Managing Director of Capisol Software, the leading and trusted local provider of an integrated, cloud-native, document management platform for businesses in a wide range of industries. "In fact, the very existence of Capisol Software stemmed from my own frustration with the shortfalls of traditional Enterprise Resource Planning (ERP) systems," de Zeeuw explains.

Archive documents reveal the US and UK's role in the dying days of apartheid

It is a quarter of a century since the end of apartheid in South Africa. But it's easy to forget how complex, difficult and violent the birth of full democracy really was. This was particularly true in KwaZulu-Natal, where battles between the African National Congress (ANC) and the mainly Zulu Inkatha Freedom Party (IFP) claimed the lives of as many as 20 000 in the decade between 1984 and 1994.

Kumba's interim profit trebles on higher iron ore prices

The miner held its full-year export sales target steady despite a tough start to 2019 Kumba Iron Ore will report a trebling of interim profit because of higher prices for the steel ingredient. Kumba, which is SA and Africa's largest iron ore miner and a 70%-owned subsidiary of Anglo American, said its basic earnings for the six months to end-June would be in the range of R9.7bn to R10.2bn, compared to R2.9bn in the same period a year earlier. It attributed the increase to higher export iron ore prices as well as a weaker rand. Its results will be released on July 23. Kumba's difficult operational performance during the first half of the year meant the company lowered its full-year production forecast by 1-million tonnes to between 42-million and 43-million tonnes. It kept its sales forecast intact at up to 44-million tonnes, with plans to draw down on 4.5-million tonnes of stockpiled ore. Kumba noted first-half sales were up by 1% to 21.3-million tonnes year-on-year, with an improved service provided by railway operator Transnet linking the Sishen and Kolomela mines in the Northern Cape to the port of Saldanha on SA's west coast. Of those sales, 19.89-million tonnes were in the export market and 1.46-million tonnes were sold on the domestic market. However, the interim period was one of two halves, with the second quarter's export sales falling by 4% to 9.8-million tonnes because of poor weather that disrupted shipping and repairs to the stacker reclaimer — a machine that stacks iron ore and moves it to ships. In the interim period, Kumba realised $108/tonne for its exported ore, a 57% increase on the same period a year earlier, when it achieved an average $69/tonne. Operationally, Kumba had a difficult start to the year, with unplanned plant maintenance at its flagship Sishen mine and longer-than-expected maintenance at its dense media separation plant at Kolomela.

MR PRICE GROUP LIMITED - Dealings in securities by associate of director

MRP 201907180029A Dealings in securities by associate of director Mr Price Group Limited (Registration number 1933/004418/06) Incorporated in the Republic of South Africa ISIN: ZAE000200457 JSE and A2X share code: MRP DEALINGS IN SECURITIES BY ASSOCIATE OF DIRECTOR In compliance with the JSE Limited Listings Requirements, the following information is disclosed: Director: Stewart Cohen Company: Mr Price Group Limited Associate: The Catregav Investment Trust Relationship to associate: Trustee and beneficiary Nature of transaction: On-market disposal of securities by associate of director Date of transaction: 12 July 2019 Number of securities: 100,000 Class of securities: Ordinary shares Volume weighted average selling price: R198.5805 per ordinary share Total value of transaction: R19,858,050.00 Highest price: R198.81 per ordinary share Lowest price: R197.61 per ordinary share Nature of interest: Dealing by an associate of a director, direct beneficial Clearance obtained: Yes Durban 18 July 2019 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 18/07/2019 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

ANGLO AMERICAN PLC - Production Report for the second quarter ended 30 June 2019

Anglo American plc (the "Company") Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 18 July 2019 Anglo American plc Production Report for the second quarter ended 30 June 2019 Mark Cutifani, Chief Executive of Anglo American, said: "Production is up 2%(1) for the quarter, due to the successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal following the longwall moves and plant upgrade work in Q1. Kumba Iron Ore continues to improve following Q1 production challenges. De Beers, in view of prevailing market conditions, will continue to produce to demand for the year. We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore." Highlights - De Beers' diamond production decreased by 14% to 7.7 million carats in the quarter, as we continue to produce to market demand and as Venetia transitions from open pit to underground. - Copper production increased by 1% to 159,100 tonnes due to strong performance at Los Bronces and Collahuasi. - Platinum production increased by 3%(2) to 520,300 ounces and palladium decreased by 1%(2) to 347,200 ounces, due to a change in mix of production from each operation. - Kumba's iron ore production decreased by 9% to 10.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production was 5.9 million tonnes as its strong ramp-up continues ahead of schedule. - Metallurgical coal production increased by 11% to 5.8 million tonnes due to generally stronger performance and the completion of Q1 longwall moves. - Thermal coal production decreased by 8% to 6.6 million tonnes primarily due to local drought conditions at Cerrejon. Production Summary

Old Mutual is victimising Moyo, says his legal team

Peter Moyo's lawyer, Advocate Dali Mpofu, says the axed Old Mutual CEO is a victim of the insurer's inability to protect whistle-blowers. "What we are really doing with here is a case of victimisation," said Mpofu on Thursday during an urgent high court hearing between the two parties. "The so-called breakdown in relationship is actually manufactured, it's not real so the employer cannot benefit from it."  Advocate Tembeka Ngcukaitobi, also representing Moyo, said the only reason he was fired was because of his conflict with Old Mutual chair Trevor Manuel and because of interviews he had with the media on the day of his suspension in May.

UK Stocks-Factors to watch on July 18

July 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 25 points lower at 7,510 on Thursday, according to financial bookmakers.* BP: BP Plc BP.L plans to shut the small gasoline-producing unit at its 430,000 barrel-per-day (bpd) Whiting, Indiana, refinery for a planned overhaul by mid-August, said sources familiar with plant operations. OIL: Oil prices steadied on Thursday after falling in the previous session when official data showed U.S. stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.

Platinum giants eye Sibanye's gold mining deal as wage yardstick

Sibanye Gold's agreement, to increase worker pay by 5.5%, is viewed as a good proxy for possibilities in the platinum industry. South African platinum producers could use Sibanye Gold's pay settlement with gold miners earlier this year as a benchmark in wage talks with labour unions, according to a person familiar with the matter. Following a five-month strike that was eventually declared illegal, Sibanye agreed to increase the pay of workers at its three gold mines by 5.5%. Sibanye's agreement is viewed as a good proxy for what's possible in the platinum industry as the cost structures are similar to deep-level gold mining, said the person, asking not to be identified because the matter is private. Anglo American Platinum, Impala Platinum and Sibanye last week began the first round of wage negotiations with the sector's biggest labour union, which is demanding an increase of as much as 48%.

Anglo America's production rises 2% in second quarter

Diversified miner Anglo American's copper-equivalent production for the second quarter ended June 30, increased by 2% year-on-year, on the back of the successful ramp-up at the Minas-Rio iron-ore mine, in Brazil, and a strong performance at its metallurgical coal operations following the longwall moves and plant upgrade work in the first quarter. Anglo American CEO Mark Cutifani on Thursday said Kumba Iron Ore's production had improved following production challenges in the first quarter. "De Beers, in view of prevailing market conditions, will continue to produce to demand for the year.

JSE flat ahead of interest rate announcement

Global trade is risk-off on Thursday morning, while all eyes locally are on the Reserve Bank, which is expected to cut the repo rate 25 basis points The JSE was flat on Thursday morning, with gains by most indices offset by a weaker Naspers, as SA waited for an update on its monetary policy outlook. The consensus among 22 analysts polled by Bloomberg is for a 25-basis-point cut to the repo rate on Thursday afternoon, while the market is also partially pricing in a second cut for 2019, possibly in September. The cut will be welcomed amid tepid local economic growth, and the prospect of lower interest rates globally is offering room for looser monetary policy domestically. Analysts have warned, however, that risks to SA persist, and a 25-basis-point rate cut will do little to improve long-term sentiment, as SA continues to grapple with structural economic problems such as a widening fiscal deficit. Historical easing rate cycles have been positive for the SA retail sector, said IG senior market analyst Shaun Murison in a note, adding that lower rates assume less pressure on the consumer and an improved debt appetite. "Recent results from major retailers highlight a weak economy and pressured consumer, with little suggestion of a turnaround in the near term for these counters," Mursion said. A rate cut should provide a short-term boost for local retailers, he said. At 9.32am the all share was flat at 57,613.6 points, while the top 40 had fallen 0.11%.

Nationalisation, privatisation, land: What Mandela told business in 1990 still resonates today

Just under three decades ago, Nelson Mandela addressed 300 business executives at a conference convened by the Consultative Business Forum in Johannesburg on the theme: 'Options for Building an Economic Future'. He touched on issues that South Africa still grapples with, including nationalisation, privitisation, land reform, inequality, public finances, unions and capital flight. A transcript of the address, still timely and relevant, is published on SA History Online .

Voyager Air shelves $200 mln London IPO

(Adds company comment, details on recent IPOs, market conditions) July 18 (Reuters) - Voyager Air Limited on Thursday put off its plans for an initial public offering on the London Stock Exchange, citing "unfavourable market conditions". The company had said last month that it planned to raise up to $200 million through a listing on the London Stock Exchange to support its new aircraft leasing business. "The company is grateful for the support it has received from institutions in recent weeks and intends to reactivate the IPO at a later date," it said. Political uncertainty around Britain's departure from the European Union and a slowdown in the euro zone economy have spurred more turbulence in stock markets in recent months and discouraged investment flows. European share listings hit their lowest in seven years in the first half of the year, with just $10.1 billion raised, a 57% slide compared from a year earlier. Last week, Reinsurance group Swiss Re suspended plans for a $4.1 billion initial public offering of British life insurer ReAssure in London, citing weak demand from institutional investors. A spate of recently listed companies including payments and foreign exchange company Finablr, Watches of Switzerland and telecoms operator Airtel Africa still trade below their flotation price. Fears that the U.S.-China trade war could escalate have also unnerved investors. Most notably, Anheuser-Busch InBev pulled a planned listing in Hong Kong of its Asia Pacific unit, Budweiser Brewing Company APAC Ltd last week, in what would have been the world's biggest IPO of 2019 at $9.8 billion. (Reporting by Shashwat Awasthi in Bengaluru and Clara Denina in London; Editing by Arun Koyyur) First Published: 2019-07-18 10:53:59 Updated 2019-07-18 11.

Liberty says earnings surged in the first half as equities recovered

Financial services group Liberty Holdings, which provides insurance and investment services, says half-year earnings rose by up to 55% as equities rallied in the first six months of 2019. The JSE all-share index followed global markets higher in the first half, rising 10.4% partly on optimism about the prospect of lower interest rates and a resolution to trade disputes. "The Shareholder Investment Portfolio benefited significantly from improved investment market returns, particularly in respect of equities, in the first half of 2019," Liberty said. Normalised headline earnings per ordinary share — a metric that accounts for one-offs linked to the group's property interests and a black empowerment scheme — are expected to have risen by between 45% and 55% in the six months to end-June, Liberty said. Headline earnings per ordinary share grew by between 25% and 35%. "The current risk profile of the Shareholder Investment Portfolio is similar to a conservative balanced portfolio and is managed with a long-term through-the-cycle investment horizon. "Progress is being made towards rebuilding a competitive and sustainable business, resulting in improved operating earnings whilst the focus on new business volumes continues," the group said. hedleyn@businesslive.co.za.

#MandelaDay: AfriBiz Invest builds three homes for elderly

Johannesburg Three destitute Gauteng families moved into brand new furnished brick and mortar houses on Mandela Day which were donated to them by AfriBiz Invest and the Collen Mashawana Foundation. The three families have similar stories. They are families where the destitute elderly support their grandchildren with the parents estranged from the families. They have been living in shacks for over two decades. The Collen Mashawana Foundation donated the houses to the three families the Baleke and Nyatikazi families in Soshanguve Pretoria and the Mohebedo family in Nigel Ekurhuleni. Gauteng Premier David Makhura swapped his Nigerian inspired attires for an overall and a hard hat on Thursday morning as he and some volunteers were seen painting the houses during a hand over on Mandela Day. These families have had no houses for over 20 years said philantrophist and businessman Collen Mashawana who is also the executive chairperson of AfriBiz Invest a company with interests in the construction water and sanitation development infrastructure and property development sectors.  Mohebedo familys old shack in Nigel will be demolished today in exchange for a new brick house.

'Matjila flatly denies receiving R5m bribe, says it was hearsay'

Former Public Investment Corporation (PIC) CEO Dan Matjila has denied allegations that he accepted R5m as a bribe to further fund VBS Mutual Bank. Matjila has been giving testimony at the commission of inquiry into the PIC, chaired by retired judge Judge Lex Mpati. RELATED: Dan Matjila takes responsibility for PIC's Steinhoff losses The commission is investigating several questionable deals involving the PIC.

Simplifying pension headaches

New rules are meant to help pensioners figure out what to do when they retire. But it's still no simple process Life should get easier for people who find choosing the right pension confusing, thanks to new default regulations. Since March 1, all pension funds have to have a "default investment plan", which automatically puts members into a portfolio chosen by the trustees. The new rules also force people, when they resign from their job but don't opt to take the cash or move their savings to another pension fund, to preserve their capital inside the fund.

Anglo American Cuts Diamond Production Goal as Buyers Balk

(Bloomberg) -- Diversified miner Anglo American (LON:AAL) Plc lowered its forecast for diamond production as demand from its customers slumped in the first half of the year. Anglo said its De Beers unit will now mine about 31 million carats this year compared with an earlier target of 31 million to 33 million carats. The company said it's producing to match demand after "weaker trading conditions" this year. Key Insights Diamond miners are facing a mini crisis as demand remains weak, while supply, especially for smaller and cheaper stones, is abundant. That's put pressure on polished prices, crimping the margins for De Beers's customers who cut, polish and trade the stones.

#MandelaDay: Collen Mashawana builds three homes for elderly

Johannesburg - Three destitute Gauteng families moved into brand new furnished brick and mortar houses on Mandela Day, which were donated to them by the Collen Mashawana Foundation.  The three families have similar stories. They are families where the destitute elderly support their grandchildren, with the parents estranged from the families. They have been living in shacks for over two decades.  The Collen Mashawana Foundation donated the houses to the three families, the Baleke and Nyatikazi families in Soshanguve, Pretoria, and the Mohebedo family in Nigel, Ekurhuleni.  Gauteng Premier David Makhura swapped his Nigerian inspired attires for an overall and a hard hat on Thursday morning, as he and some volunteers, were seen painting the houses during a hand over on Mandela Day.  "These families have had no houses for over 20 years," said philantrophist and businessman Collen Mashawana, who is also the executive chairperson of AfriBiz Invest, a company with interests in the construction, water and sanitation development, infrastructure and property development sectors.  Mashawana said they received hundreds of requests to build houses for the poor, and this year alone, they had built 14 already, he said.  His company also bids for government contracts and is involved in a massive housing project in Pretoria, where they are building more than 17 000 low-cost houses, he said.  "We get hundreds of requests, we assess all requests and see what we can do for families headed by disabled people and old people," he explained.

New rules should make pension choices simpler

Life should get easier for people who find choosing the right pension confusing, thanks to new default regulations. Since March 1, all pension funds must have a default investment plan, which automatically puts members into a portfolio chosen by trustees. The new rules also force people, when they resign from their job but do not take the cash or move their savings to another fund, to preserve their capital inside the fund.

I m not corrupt, says Matjila

Janine Wed, 07/17/2019 - 20:47 Teaser Media Paragraphs Former PIC CEO Dan Matjila says he s not corrupt, nor has he ever accepted a bribe from VBS Mutual Bank. In fact, he s blaming two former PIC officials for the VBS debacle. JOHANNESBURG - Former PIC CEO Dan Matjila won t take the fall for the asset manager s involvement in the VBS Mutual Bank saga.

Strong Asia growth boosts Richemont's first-quarter sales

The luxury-goods company reports a 9% year-on-year increase at constant exchange rates.  The Rupert family-controlled Richemont, which owns the Cartier and Van Cleef & Arpels brands, grew sales by 12% in the three months to end-June thanks to strong growth in Asia and rising online sales. The group, whose R629bn market value makes it the fourth-biggest constituent of the JSE's top-40 index, said first-quarter sales rose 12% year on year at actual exchange rates, or 9% at constant exchange rates. Excluding online distributors — the recently acquired Yoox Net-a-Porter (YNAP) and pre-owned watch platform Watchfinder — sales rose 6% at actual exchange rates or 3% at constant exchange rates.

S.Africa's Liberty sees H1 earnings to rise

LIB-HOLD:   10,879     0 (0.00%)   18/07/2019 00:00 JOHANNESBURG, July 18 (Reuters) - South African insurer Liberty Holdings Ltd said on Thursday half-year earnings are expected to jump at least 45% as the firm proceeds with its turnaround plan. Normalised headline earnings per share, a key profit measure that excludes certain one-off items, is expected to be between 698.9 cents and 747.1 cents per share for the six months ended June 30, up from 482 cents a year earlier. "Progress is being made towards rebuilding a competitive and sustainable business, resulting in improved operating earnings whilst the focus on new business volumes continues," the firm said in a statement. Liberty Holdings? interim results will be released on August 1. (Reporting by Tanisha Heiberg; editing by Jason Neely) 2019-07-18 08.

Amplats says output down four percent in second quarter

JOHANNESBURG, July 18 (ANA) - Anglo American Platinum said on Thursday output from its own managed mines decreased by four percent to 633,600 ounces in the second quarter of 2019, due to lower production from its Mogalakwena and Mototolo operations. ANA NEWS WIRE Disclaimer: The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality. ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video.

Inspiring industry talk for Newcastle entrepreneurs

Newcastle-born business man and entrepreneur, Mark Lamberti gave an inspiring talk on July 12 at Blackrock Casino. On the night, Newcastle Sakekamer hosted a gala dinner of entrepreneurship, with many business owners, representatives and entrepreneurs eager to acquire knowledge from the highly distinguished speaker. Lamberti's primary focus throughout his 37-year career, was rooted in entrepreneurial development, turnaround and public listing of multinational companies headquartered in South Africa.

MTN names Vodacom exec chief digital, fintech officer

MTN Group has appointed Vodacom's chief officer of strategy and M&A, Yolanda Cuba, as group chief digital and fintech officer. In a statement, the mobile operator says Cuba will join the MTN Group executive committee reporting to the Group CEO, Rob Shuter. In this role, she will lead the group's strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator, says the company.

Time To Invest In Exchange Traded Funds?

Managing your own portfolio has possibly never been harder with the JSE experiencing its fair share of companies with skeletons from Pembury, to Ayo to Tongaat. Is it time to invest in exchange trade funds and if so how do you separate the wheat from the chaff? To find out CNBC Africa's Fifi Peters is joined by Chris Rule, Head of Products and Client Solutions at Coreshares and Mike Brown, Managing Director, etfSA.co.za. The post appeared first on iAfrica.com..

ANGLO AMERICAN PLC - Production Report for the second quarter ended 30 June 2019

AGL 201907180006A Production Report for the second quarter ended 30 June 2019 Anglo American plc (the ‘Company') Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 18 July 2019 Anglo American plc Production Report for the second quarter ended 30 June 2019 Mark Cutifani, Chief Executive of Anglo American, said: ‘Production is up 2%(1) for the quarter, due to the successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal following the longwall moves and plant upgrade work in Q1. Kumba Iron Ore continues to improve following Q1 production challenges. De Beers, in view of prevailing market conditions, will continue to produce to demand for the year. We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore.' Highlights - De Beers' diamond production decreased by 14% to 7.7 million carats in the quarter, as we continue to produce to market demand and as Venetia transitions from open pit to underground. - Copper production increased by 1% to 159,100 tonnes due to strong performance at Los Bronces and Collahuasi. - Platinum production increased by 3%(2) to 520,300 ounces and palladium decreased by 1%(2) to 347,200 ounces, due to a change in mix of production from each operation. - Kumba's iron ore production decreased by 9% to 10.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production was 5.9 million tonnes as its strong ramp-up continues ahead of schedule. - Metallurgical coal production increased by 11% to 5.8 million tonnes due to generally stronger performance and the completion of Q1 longwall moves. - Thermal coal production decreased by 8% to 6.6 million tonnes primarily due to local drought conditions at Cerrejon. Production Summary % vs.

UPDATE 1-UK Stocks-Factors to watch on July 18

(Adds company news items, futures) July 18 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 25 points lower at 7,510 on Thursday, according to financial bookmakers, with futures FFIc1 down 0.40% ahead of the cash market open.* OFWAT: Britain's water regulator called for the country's utilities to invest the equivalent of 6 million pounds every day for the next five years in plans to reduce pollution and leakages in increasingly stressed UK infrastructure. ANGLO AMERICAN: Miner Anglo American AAL.L said its overall output rose 2% in the second quarter, benefiting from a ramp up in iron ore production at its Minas-Rio mine in Brazil and increased metallurgical coal output. SSE: Power company SSE Plc SSE.L reported a 1.2% dip in customer accounts and stuck to its full-year targets despite seeing a dip in the volume of renewable energy delivered in its first quarter compared to previous expectations.

Centamin says business outlook continues to improve

Dual London- and Toronto Stock Exchange-listed gold miner Centamin, whose current main asset is the Sukari gold mine in Egypt, announced on Thursday that the amount of gold produced by the mine during the second quarter of this year (2Q19) was slightly (1%) higher than the production during the first quarter (1Q19), but was 27% higher that during the second quarter of last year (2Q18). In quantitative terms, 2Q19 production was 117 913 oz, as against 116 183 oz in 1Q19 and 92 803 oz in 2Q18. Production for the first half of this year (1H19) was 8% up on that for the same period last year (1H18).

KUMBA IRON ORE LIMITED - Kumba Production and Sales Report, and Trading Statement for the six months ended 30 June 2019

Kumba Production and Sales Report, and Trading Statement for the six months ended 30 June 2019 Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) (Registration number 2005/015852/06) Share code: KIO ISIN: ZAE000085346 ("Kumba" or "the company") Kumba Production and Sales Report, and Trading Statement for the six months ended 30 June 2019 Production and Sales Report for the six months ended 30 June 2019 Kumba's first priority is the safety of its employees and we are now fatality-free for more than three years. In the six months ended 30 June 2019 ("the period"), Kumba has focused on safe, responsible production, while achieving optimal value for our high quality products. Throughout this report, production and sales volumes referred to are 100% of Sishen Iron Ore Company Proprietary Limited ("SIOC") and are attributable to shareholders of Kumba as well as the non- controlling interests in SIOC. Overview: - Kumba marked three years of fatality free operations, demonstrating our commitment to safety. - Export sales increased by 2% to 19.9 Mt, reflecting improved rail performance, partly offset by poor weather conditions and repairs to a stacker reclaimer in Q2 2019 which resulted in a 4.0% decrease relative to Q1 2019. - Total production decreased by 11.0% to 20.1 Mt due to plant maintenance, however, demonstrating an increase in Q2 2019 relative to Q1 2019 by 11% to 10.5 Mt as plant performance improved. Sales summary Quarter % Quarter % 1H % ended change ended change ended change Q2 Q2 vs Q2 Q1 vs Q1 June June vs 1H ' 000 tonnes 2019 2018 2018 2019 2019 2019 2018 2019 Total 10,472 1

LIBERTY HOLDINGS LIMITED - Trading Statement in respect of the six months ended 30 June 2019

LBH 201907180002A Trading Statement in respect of the six months ended 30 June 2019 Liberty Holdings Limited Registration number 1968/002095/06 Incorporated in the Republic of South Africa Share code: LBH ISIN code: ZAE0000127148 (‘Liberty Holdings' or ‘the Group') TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 30 JUNE 2019 Shareholders are advised that Liberty Holdings is currently in the process of compiling its results for the six months ended 30 June 2019. This trading statement provides an indication of a range for normalised headline earnings per ordinary share, headline earnings per ordinary share and basic earnings per ordinary share pending finalisation of the consolidation of the half year results. Liberty Holdings' interim results will be released on the Stock Exchange News Service of the JSE Limited on 1 August 2019. Shareholders are advised that normalised headline earnings(1) per ordinary share, the Group's primary earnings measure, is expected to be between 45% to 55% (between 698,9 cents and 747,1 cents per ordinary share) higher than the six months ended 30 June 2018 (‘the comparative period'). The Shareholder Investment Portfolio (‘SIP') benefitted significantly from improved investment market returns, particularly in respect of equities, in the first half of 2019.

Business loses R2 300 during business robbery

Police were caught in a shootout when they attempted to stop suspects from getting away after a business robbery on Ermelo Road last Thursday evening, says Springs Police spokesperson Capt Johannes Ramphora. The shopkeeper and a friend were sleeping in the back of the store when they heard someone tampering with the outside door and phoned the owner of the store. According to the shopkeeper, at the the next moment, two suspects opened a window and pointed a gun at them through the window, when the victims turned away from the gun, they saw another two suspects standing behind them.

UPDATE 1-Anglo American's Q2 output rises 2%, Minas Rio ramps up

LONDON, July 18 (Reuters) - Anglo American on Thursday said the ramp-up of iron ore at Minas Rio in Brazil and higher volumes of coking coal had offset reduced diamond production, raising second-quarter output by 2% and keeping the company on track to meet its 2019 targets. Prices of iron ore, used with coking coal to make steel, have outperformed other base metals, reaching five-year highs, after a Vale dam disaster in Brazil led to production shut-ins. CEO Mark Cutifani said Anglo American's production had been boosted following the ramp-up of Minas Rio and a strong performance from coking coal after plant upgrade work in the first quarter.

GLOBAL MARKETS-Stocks wobble on trade, earnings unease; US Treasury yields fall

* All Wall St indexes down; CSX tumbles on trade-related weakness * Treasury yields slump; 10yr, 30yr shed over 7 bps each overnight * Bank of Korea surprises with earlier-than-expected rate cut * Precious metals in demand; gold at 2wk high, silver at 5mth high * Asian stock markets: tmsnrt.rs/2zpUAr4 By Tomo Uetake TOKYO, July 18 (Reuters) - Asian shares edged lower on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries. MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2%, while Japan's benchmark Nikkei shed 1.7% and Australian shares fell 0.3%.

COMPAGNIE FINANCIERE RICHEMONT SA - Trading update for the first quarter ended 30 June 2019

CFR 201907180001A Trading update for the first quarter ended 30 June 2019 Compagnie Financiere Richemont SA Depositary Receipts issued by Richemont Securities SA (‘Richemont Securities' or ‘Richemont') (Incorporated in Switzerland) Share code: CFR ISIN: CH0045159024 Depositary Receipt Code: CFR RICHEMONT COMPANY ANNOUNCEMENT 18 JULY 2019 TRADING UPDATE FOR THE FIRST QUARTER ENDED 30 JUNE 2019 Financial highlights · Sales for the quarter increased by 12% at actual exchange rates and by 9% at constant exchange rates compared to the prior year period · Excluding Online Distributors, sales rose by 6% at actual exchange rates and by 3% at constant exchange rates; at actual exchange rates, o Double digit growth in Japan and Asia Pacific, notably in mainland China, and high single digit growth in the Americas more than compensated for decreases in Europe and the Middle East and Africa o Good retail sales growth against strong comparatives, whilst wholesale sales remained subdued; strong online retail sales' performance o Double digit growth at the Jewellery Maisons, slight growth at the Specialist Watchmakers, and Other business area in line with the prior year period +————-+———-+———-+————-+————-+ | |April-June|April-June| Change at| Change at| | | 2019 EURm|2018* EURm| constant| actual| | | | |exchange rates|exchange rates| | | | | versus prior| versus prior| | | | | period (%)| period (%)| +————-+———-+———-+————-+————-+ |Sales by | | | | | |region | | | | | +————-+———-+———-+————-+————-+ |Europe | 1 072| 958| +12%| +12%| +————-+———-+———-+————-+————-+ |Asia Pacific | 1 423| 1 268| +10%| +12%| +————-+———-+———-+————-+————-+ |Americas | 698| 600| +10%| +16%| +————-+———-+———-+————-+————-+ |Japan | 298| 263| +8%| +13%| +————-+———-+———-+————-+————-+

Why business should cut food waste

Being green isn't the only reason for companies to get on board with cutting food waste. Retailers, restaurants, and others that find ways to minimize food surpluses will reap financial rewards, too..

Technology, cyber risk dominate SA insurers' business risks - report

JOHANNESBURG - Technology and cyber crime are among the biggest concerns for insurers across the globe, professional services company PwC said on Wednesday, citing an annual survey which included 28 responses from South African firms. The report by independent think tank Centre for the Study of Financial Innovation in association with PwC polled over 900 insurance practitioners and industry observers in 53 countries, to find out where they saw the greatest risks over the next two to three years. South African respondents said weak economic growth, low disposable income and persistent high unemployment levels were significant contributing factors, said Victor Muguto, long-term insurance leader for PwC Africa. "Given our very difficult economic environment, it is not surprising that macroeconomic risk was ranked the number one concern in South Africa, compared to a global ranking of 9th," Muguto said. Socio-economic and political uncertainty had also slowed down the pace of economic and insurance sector growth across the rest of Africa, he added..

KAP INDUSTRIAL HOLDINGS LIMITED - Interest payment notification - KAP11

Interest payment notification - KAP11 KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1978/000181/06) JSE alpha code: KAP INTEREST PAYMENT NOTIFICATION Bondholders are advised of the following interest payment: Bond code: KAP011 ISIN: ZAG000147703 Coupon: 9.158% Interest period: 24 April 2019 to 23 July 2019 Interest amount due: R10 228 858.74 Payment date: 24 July 2019 Date convention: Following business day 18 July 2019 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 18/07/2019 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

South32 mulls bids for SA coal assets

The miner expects to provide a further update to the market in the December 2019 half-year Australia-based miner South32 says it is considering bids for its coal assets in SA's Mpumalanga province. The group's SA Energy Coal business, which South32 has been looking to offload, includes four coal-mining operations and three processing plants that produce energy coal for the domestic and export market. The cut-off time for submission of bids was the end of June. "We are currently engaging with the bidders regarding finalisation of their offers that will form part of the group's usual biannual assessment of carrying values for our operations," the miner said in a quarterly report for the three months ended June. "We expect to provide a further update to the market in the December 2019 half-year," the company said. Coal production at SA Energy Coal declined 8% in the 2019 financial year as export sales volumes were hurt by an extended outage of the Klipspruit dragline following an incident in August 2018. Though domestic sales were largely unchanged for the year, they were 16% lower in the June 2019 quarter following reduced sales of lower-quality stockpiled product.

ANGLO AMERICAN PLATINUM LIMITED - PGM Production Report for the Second Quarter ending 30 June 2019

ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 ("The Company" or "Anglo American Platinum") ANGLO AMERICAN PLATINUM LIMITED PGM PRODUCTION REPORT FOR THE SECOND QUARTER ENDING 30 JUNE 2019 OVERVIEW - Commitment to elimination of fatalities - zero fatalities at own managed operations in Q2 2019 - Total PGM production (expressed as 5E+Au metal in concentrate) increased by 1% to 1,118,700 ounces, (excluding Sibanye-Stillwater Rustenburg mine 4E material) - Own managed mines PGM production decreased by 4% to 633,600 ounces due to lower production from Mogalakwena and Mototolo - Joint venture PGM production (mined and purchase of concentrate, excluding Mototolo) decreased by 4% to 228,200 ounces due to lower volume from Modikwa, despite a strong performance from Kroondal - Purchase of PGM concentrate from third parties increased by 22% to 256,900 ounces due to higher volumes received from BRPM and Siyanda (excluding Sibanye-Stillwater Rustenburg mine 4E material that transitioned to a tolling arrangement) - Refined PGM production including tolling increased by 23% to 1,426,900 ounces due to improved processing operational performance and stability at processing assets - PGM sales volumes of 1,275,100 ounces were in line with refined production, but down by 8% year-on-year due to 154,400 4E ounces returned through toll arrangements - 2019 Production guidance (metal in concentrate) remains unchanged at 4.2 - 4.5 million PGM ounces Anglo American Platinum Q2 2019 Q2 2019 H1 2019 PGM Production Report - Q2 2019 Q2 Q1 Q4 Q3 Q2 vs vs H1 H1 vs Period 1 April 2019 - 30 June 2019 2019 2019

ANGLO AMERICAN PLC - Production Report for the second quarter ended 30 June 2019

AGL 201907180006A Production Report for the second quarter ended 30 June 2019 Anglo American plc (the ‘Company') Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 18 July 2019 Anglo American plc Production Report for the second quarter ended 30 June 2019 Mark Cutifani, Chief Executive of Anglo American, said: ‘Production is up 2%(1) for the quarter, due to the successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal following the longwall moves and plant upgrade work in Q1. Kumba Iron Ore continues to improve following Q1 production challenges. De Beers, in view of prevailing market conditions, will continue to produce to demand for the year. We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore.' Highlights - De Beers' diamond production decreased by 14% to 7.7 million carats in the quarter, as we continue to produce to market demand and as Venetia transitions from open pit to underground. - Copper production increased by 1% to 159,100 tonnes due to strong performance at Los Bronces and Collahuasi. - Platinum production increased by 3%(2) to 520,300 ounces and palladium decreased by 1%(2) to 347,200 ounces, due to a change in mix of production from each operation. - Kumba's iron ore production decreased by 9% to 10.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production was 5.9 million tonnes as its strong ramp-up continues ahead of schedule. - Metallurgical coal production increased by 11% to 5.8 million tonnes due to generally stronger performance and the completion of Q1 longwall moves. - Thermal coal production decreased by 8% to 6.6 million tonnes primarily due to local drought conditions at Cerrejon. Production Summary % vs.

Implats strengthening balance sheet through early conversion of bonds

17TH JULY 2019 BY: CREAMER MEDIA REPORTER SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ Platinum group metals (PGMs) producer Impala Platinum (Implats) is inviting holders of its $250-million 3.25% convertible bonds due in 2022 (USD bonds) to exercise their conversion rights. Bondholders will receive a cash payment and shares in Implats in accordance with the terms of the USD bonds. ADVERTISEMENT The optimisation of Implats' balance sheet through a reduction and restructuring of its existing debt is a key pillar of its strategy to reposition as a profitable, sustainable and competitive business with clear capital allocation priorities and, ultimately, a return to a dividend paying position. To this end, the USD bonds have been identified as a priority given their higher relative risk profile and costs when combined with the Cross Currency Interest Rate Swap. ADVERTISEMENT "Rising rand PGM pricing and the reported improvement in operational delivery at Implats has had the dual benefit of both improving free cash flow generation and substantial share-price appreciation. This has allowed us to contemplate taking bold steps to accelerate our capital allocation priorities by taking advantage of market conditions to reduce a material debt obligation at the group," Implats CEO Nico Muller says.

China growth helps Richemont offset sales weakness in Europe

(Adds details on watch business, Hong Kong, Swatch) PARIS, July 18 (Reuters) - Strong demand in mainland China helped Cartier-owner Richemont offset a weaker performance elsewhere in its first quarter, as protests in Hong Kong hit sales, revenues fell in Europe and it kept a tight leash on watch inventory. The Geneva-based group relies on jewellery for the bulk of sales, with brands like Cartier and Van Cleef & Arpels, but is also a major player in the tougher watch industry, which is under pressure as consumer tastes shift. After buying back large amounts of excess watch stocks in recent years, Richemont, known for high-end IWC and Jaeger-LeCoultre luxury timepieces, has been reducing wholesale distribution and carefully controlling inventory. It said a shake-up of its retail network had contributed to a 2% fall in watch sales in the three months to end-June, while more product launches were due later in the year. In addition, Hong Kong, the world's biggest export market for watches and long a jumping off point for Chinese shoppers looking to buy high-end goods overseas, has been gripped by political protests for weeks. "Sales in Hong Kong retreated, additionally impacted by the relative strength of the Hong Kong dollar and the recent street protests," Richemont said. Omega maker Swatch said on Wednesday that it too had been buying back watches sold outside its approved channels, hitting sales in the first half of its financial year. Richemont said that mainland China had proved a bright spot, mirroring trends across the broader luxury goods industry. Some more fashion-orientated groups like Louis Vuitton owner LVMH have benefited as Chinese shoppers spend more at home, encouraged by Beijing's bid to boost domestic consumption with import tariff cuts that have fed through to prices. But in Europe, Richemont's revenue fell 1% in the April to June perio

KAP INDUSTRIAL HOLDINGS LIMITED - New Financial Instrument Listing KAP014

KAP014 201907180016A New Financial Instrument Listing - KAP014 KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1978/000181/06) (‘KAP' or the ‘Company') Stock Code: KAP014 ISIN Code: ZAG000160888 New Financial Instrument Listing - KAP014 The JSE Limited has granted a listing to KAP (‘KAP014') under its Domestic Medium Term Note programme dated 5 June 2014. The notes are jointly and severally and unconditionally and irrevocably guaranteed by KAP Automotive Proprietary Limited; KAP Bedding Proprietary Limited; KAP Diversified Industrial Proprietary Limited; Safripol Proprietary Limited; Unitrans Passenger Proprietary Limited; and Unitrans Supply Chain Solutions Proprietary Limited. Authorised programme size: R10 000 000 000.00 Total notes outstanding including this issuance: R5 338 000 000.00 Instrument type: Floating rate note Bond Code: KAP014 Nominal issued: R500 000 000.00 Issue price: 100% Coupon: 3 Month JIBAR as at 16 July 2019 plus 160 bps Coupon Indicator: Floating Trade type: Price Final maturity date: 19 July 2024 Books close: 9 January, 9 April, 9 July, 9 October Interest payment date(s): 19 January, 19 April, 19 July, 19 October Last day to register: By 17:00 on 8 January, 8 April, 8 July, 8 October Issue date: 19 July 2019 Date convention: Following Interest commencement date: 19 July 2019 First interest payment date: 19 October 2019 ISIN: ZAG000160888 Additional information: Senior Unsecured Floating Notes Additional terms and N/A conditions: The Applicable Pricing Supplement will be available on KAP's website, www.kap.co.za. The note relating to the new financial instrument (‘Note') will be dematerialised in the Central Securities Depository (‘CSD') and settlement will take place electronically in terms of JSE Rules. For further information on the Note issue please contact: Allister Lamont-Smith Nedbank CIB (010) 234 8705 18 July 2019 Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date

BRIEF-Kumba Iron Ore Says 2019 Production Guidance Revised To 42-43 MT From 43-44 MT

July 18 (Reuters) - Kumba Iron Ore Ltd KIOJ.J : * JSE: KIO - KUMBA PRODUCTION AND SALES REPORT, AND TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 JUNE 2019 * KUMBA IRON ORE LTD - KUMBA'S TOTAL SALES FOR FIRST HALF INCREASED BY 1.0% TO 21.3 MT (H1 2018: 21.2MT) * KUMBA IRON ORE - HY TOTAL PRODUCTION DECREASED BY 11.0% TO 20.1 MT (Q2 2018: 22.4 MT) * KUMBA IRON ORE LTD - PRODUCTION GUIDANCE FOR 2019 IS REVISED TO 42-43 MT, FROM 43-44 MT.* KUMBA IRON ORE LTD - FULL YEAR SALES GUIDANCE IS UNCHANGED AT 43-44 MT * KUMBA IRON ORE - SEES HY BASIC EARNINGS TO BE BETWEEN R9,743 MILLION AND R10,246 MILLION * KUMBA IRON ORE LTD - SEES HY BASIC EPS TO BE BETWEEN R30.41 AND R31.98, AN INCREASE OF BETWEEN 230% AND 247% * KUMBA IRON ORE - SEES HY HEADLINE EARNINGS LIKELY TO BE BETWEEN R9,779 MILLION AND R10,284 MILLION* KUMBA IRON ORE - SEES HY HEPS ARE LIKELY TO BE BETWEEN R30.52 AND R32.10, AN INCREASE OF BETWEEN 228% AND 245%..

KUMBA IRON ORE LIMITED - Kumba Production and Sales Report, and Trading Statement for the six months ended 30 June 2019

KIO 201907180010A Kumba Production and Sales Report, and Trading Statement for the six months ended 30 June 2019 Kumba Iron Ore Limited A member of the Anglo American plc group (Incorporated in the Republic of South Africa) (Registration number 2005/015852/06) Share code: KIO ISIN: ZAE000085346 (‘Kumba' or ‘the company') Kumba Production and Sales Report, and Trading Statement for the six months ended 30 June 2019 Production and Sales Report for the six months ended 30 June 2019 Kumba's first priority is the safety of its employees and we are now fatality-free for more than three years. In the six months ended 30 June 2019 (‘the period'), Kumba has focused on safe, responsible production, while achieving optimal value for our high quality products. Throughout this report, production and sales volumes referred to are 100% of Sishen Iron Ore Company Proprietary Limited (‘SIOC') and are attributable to shareholders of Kumba as well as the non- controlling interests in SIOC. Overview: - Kumba marked three years of fatality free operations, demonstrating our commitment to safety. - Export sales increased by 2% to 19.9 Mt, reflecting improved rail performance, partly offset by poor weather conditions and repairs to a stacker reclaimer in Q2 2019 which resulted in a 4.0% decrease relative to Q1 2019. - Total production decreased by 11.0% to 20.1 Mt due to plant maintenance, however, demonstrating an increase in Q2 2019 relative to Q1 2019 by 11% to 10.5 Mt as plant performance improved. Sales summary Quarter % Quarter % 1H % ended change ended change ended change Q2 Q2 vs Q2 Q1 vs Q1 June June vs 1H ‘ 000 tonnes 2019 2018 2018 2019 2019 2019 2018 2019 Total 10,472 10,342 1 10,879 (4) 21,350 21,173 1 - Export sales 9,756 9,560 2 10,131 (4) 19,886 19,506 2 - Domestic sales 716 782 (8) 748 (4) 1,464 1,667 (12) Production summary Quarter % Quarter % 1H % ended change ended change ended change Q2 Q2 vs Q2 Q1 vs Q1 June June vs 1H ‘ 000 tonnes 2019 2018 2018 2019 2019 2019 2018 2019 Total 1

Anglo American Cuts Diamond Production Goal as Buyers Balk

(Bloomberg) -- Diversified miner Anglo American (LON:AAL) Plc lowered its forecast for diamond production as demand from its customers slumped in the first half of the year. Anglo said its De Beers unit will now mine about 31 million carats this year compared with an earlier target of 31 million to 33 million carats. The company said it's producing to match demand after "weaker trading conditions" this year. Key Insights Diamond miners are facing a mini crisis as demand remains weak, while supply, especially for smaller and cheaper stones, is abundant. That's put pressure on polished prices, crimping the margins for De Beers's customers who cut, polish and trade the stones.

GLENCORE PLC - GLN: Transactions In Own Shares-18 July 2019

GLENCORE PLC (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 18 July 2019 Transactions in own shares-17 July 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 17 July 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,354,382 Lowest price paid per share (GBp): 269.2500 Highest price paid per share (GBp): 272.2000 Volume weighted average price paid per share (GBp): 270.8892 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 941,661,446 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,644,538,620. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue

SOUTH32 LIMITED - Quarterly Report June 2019

Quarterly Report June 2019 South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX, LSE, JSE Share Code: S32 ADR: SOUHY ISIN: AU000000S320 Quarterly Report June 2019 • Achieved record production at Hillside Aluminium and strong "We had a strong finish to the year, with performance at Mozal Aluminium, despite an increase in revenue equivalent production growing 10 load-shedding events in FY19. per cent in the quarter and 3 per cent for the year. • Increased production at Worsley Alumina by 12% in the June quarter due to an uplift in calciner availability as we deliver initiatives to sustainably increase to nameplate capacity "We achieved record annual production at from FY20. Hillside Aluminium, increased production at Illawarra Metallurgical Coal by 57 per cent • Maintained higher manganese ore production, delivering 5.5Mt into and delivered 5.5 million tonnes of a strong market during the year, exceeding revised production manganese ore into a favourable market. guidance at South Africa Manganese and operating the Australia Manganese Premium Concentrate Ore (PC02) circuit above design capacity.

Impala Platinum: Gathering strength for Amcu's muscle

Impala Platinum shareholders (https://www.sharenet.co.za/v3/quickshare.php?scode=IMP) would understandably feel pangs of angst about pending wage talks with the Association of Mineworkers and Construction Union (Amcu) just as their company is showing signs of financial life after years of hardship. The past five or six years of annual results show just how difficult a time it has been, with a total dividend of 95c last paid in 2013 - just as SA's platinum sector was taken into a damaging five-month strike in the first half of 2014 that wrought havoc on Implats's balance sheet. Net debt soared.

South African Markets - Factors to watch on July 18

JOHANNESBURG, July 18 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday. ECONOMIC EVENTS - South Africa-Central Bank Rates-Repo Rate. 1300 GMT COMPANIES - Q1 2020 Vodacom Group VODJ.J Trading Statement Release. SOUTH AFRICAN MARKETSSouth Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. On the bourse, stocks fell alongside emerging market assets amid resurfacing worries over the U.S-China trade conflict. .J ZAR/ GLOBAL MARKETS The dollar slipped on Thursday as risk aversion in the broader markets pushed benchmark U.S.

Strong Asia growth boosts Richemont's first-quarter sales

The luxury-goods company reports a 9% year-on-year increase at constant exchange rates The Rupert family-controlled Richemont, which owns the Cartier and Van Cleef & Arpels brands, grew sales by 12% in the three months to end-June thanks to strong growth in Asia and rising online sales. The group, whose R629bn market value makes it the fourth-biggest constituent of the JSE's top-40 index, said first-quarter sales rose 12% year on year at actual exchange rates, or 9% at constant exchange rates. Excluding online distributors — the recently acquired Yoox Net-a-Porter (YNAP) and pre-owned watch platform Watchfinder — sales rose 6% at actual exchange rates, or 3% at constant exchange rates. The group said it registered double-digit growth in Japan and the Asia Pacific, "notably in mainland China". Together with high single-digit growth in the Americas, this "more than compensated for decreases in Europe and the Middle East and Africa". In Europe, sales fell 1% despite "good momentum" in Cartier and Van Cleef & Arpels. While revenue grew in Asia, Richemont said sales in Hong Kong fell partly because of large-scale protests over a controversial extradition bill and amid calls that leader Carrie Lam resign. Meanwhile, "unfavourable currency movements and the severance of selected wholesale relationships" meant sales in the Middle East and Africa fell 12%. The group said it had net cash at the end of June of €2.4bn, versus €2.2bn a year ago. Analysts at FNB Securities said in a note last week Richemont's operating margins could come under pressure in the second half because of the integration of lower-margin e-commerce assets, investments in e-commerce and marketing, and the "clean-out of watch inventories in wholesale". hedleyn@businesslive.co.za.

KAP INDUSTRIAL HOLDINGS LIMITED - Interest payment notification - KAP11

KAP11 201907180017A Interest payment notification - KAP11 KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1978/000181/06) JSE alpha code: KAP INTEREST PAYMENT NOTIFICATION Bondholders are advised of the following interest payment: Bond code: KAP011 ISIN: ZAG000147703 Coupon: 9.158% Interest period: 24 April 2019 to 23 July 2019 Interest amount due: R10 228 858.74 Payment date: 24 July 2019 Date convention: Following business day 18 July 2019 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 18/07/2019 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

TELKOM SA SOC LIMITED - Interest payment notifications - TL27 TL29

Interest payment notifications - TL27 TL29 Telkom SA SOC Limited (Incorporated in the Republic of South Africa) (Registration number 1991/005476/30) JSE Bond Code: BITEL INTEREST PAYMENT NOTIFICATIONS Bondholders are advised of the following interest payments: Bond code: TL27 ISIN: ZAG000150889 Coupon rate: 8,708% Interest period: 24 April 2019 to 23 July 2019 Interest amount due: R 10 855 178,08 Payment date: 24 July 2019 Date convention: Following business day Bond code: TL29 ISIN: ZAG000150954 Coupon rate: 8,998% Interest period: 24 April 2019 to 23 July 2019 Interest amount due: R 11 216 684,93 Payment date: 24 July 2019 Date convention: Following business day 18 July 2019 Debt Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 18/07/2019 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

ANGLO AMERICAN PLATINUM LIMITED - PGM Production Report for the Second Quarter ending 30 June 2019

AMS 201907180003A PGM Production Report for the Second Quarter ending 30 June 2019 ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 (‘The Company' or ‘Anglo American Platinum') ANGLO AMERICAN PLATINUM LIMITED PGM PRODUCTION REPORT FOR THE SECOND QUARTER ENDING 30 JUNE 2019 OVERVIEW - Commitment to elimination of fatalities - zero fatalities at own managed operations in Q2 2019 - Total PGM production (expressed as 5E+Au metal in concentrate) increased by 1% to 1,118,700 ounces, (excluding Sibanye-Stillwater Rustenburg mine 4E material) - Own managed mines PGM production decreased by 4% to 633,600 ounces due to lower production from Mogalakwena and Mototolo - Joint venture PGM production (mined and purchase of concentrate, excluding Mototolo) decreased by 4% to 228,200 ounces due to lower volume from Modikwa, despite a strong performance from Kroondal - Purchase of PGM concentrate from third parties increased by 22% to 256,900 ounces due to higher volumes received from BRPM and Siyanda (excluding Sibanye-Stillwater Rustenburg mine 4E material that transitioned to a tolling arrangement) - Refined PGM production including tolling increased by 23% to 1,426,900 ounces due to improved processing operational performance and stability at processing assets - PGM sales volumes of 1,275,100 ounces were in line with refined production, but down by 8% year-on-year due to 154,400 4E ounces returned through toll arrangements - 2019 Production guidance (metal in concentrate) remains unchanged at 4.2 - 4.5 million PGM ounces Anglo American Platinum Q2 2019 Q2 2019 H1 2019 PGM Production Report - Q2 2019 Q2 Q1 Q4 Q3 Q2 vs vs H1 H1 vs Period 1 April 2019 - 30 June 2019 2019 2019 2018 2018 2018 Q2 2018 Q1 2019 2019 2018 H1 2018 Total M&C Production (mined and purchase of concentrate) Total PGM Production (5E + Au)(1) 000 oz 1,118.7 1,028.2 1,061.9 1,146.0 1,106.7 1% 9% 2,146.9 2,201.6 (2)% (2) Total PGM P

GLOBAL MARKETS-Stocks slide as U.S.-China trade war takes toll on earnings

* MSCI world equity index slips 0.2% to nine-day low * European shares down 0.5% at three-week low * U.S.-China trade war takes toll on earnings * Bond yields fall as investors seek safety * Graphic: U.S. versus European earnings https://tmsnrt.rs/2k0q0j0 * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh By Tom Wilson LONDON, July 18 (Reuters) - Global shares slipped on Thursday on growing signs that a trade dispute between the United States and China was taking a toll on corporate earnings, with nerves spreading from Wall Street through Asia to European markets. MSCI world equity index .MIWD00000PUS , which tracks shares in 47 countries, fell 0.2% to their lowest in nine days, while the Euro STOXX 600 .STOXX slipped 0.5% to its lowest in almost three weeks. The earnings season, kicking off this week, brought bad signs as rail freight giant CSX Corp CSX.O , cut its revenue forecast as it warned of the impact of the U.S.-China trade war, pushing down Wall Street indexes on Wednesday. Europe, too, earnings were top of the agenda.

Probe into missing R8m meant to benefit local business on West Rand

A mill plant which was supposed to start working in 2017 in Randfontein to help grow the agricultural and retail sector on the West Rand is still not functioning. The Gauteng portfolio committee on economic development, environment, agriculture and rural development made the shocking discovery last week. Chairperson of the committee Lindiwe Lasindwa said Isigayo Mill  was supposed to be completed in the 2015/2016 financial year and open in 2017.  Lasindwa said she was shocked and disappointed that the project meant to benefit the people by empowering local SMEs and retailers was still not functional.

Platinum-linked fuel cell business accelerating at rapid rate, say experts

CAPE TOWN (miningweekly.com) - South Africa is continuing to gather top-tier insight into fuel cell technology as it navigates the electric vehicle market's growing links to this country's globally unparalleled platinum group metals (PGMs) industry. Expert after expert at this week's Nedbank CIB's Market Research conference outlined the significant domestic and foreign steps that are being taken to unlock the innovative sector far sooner than expected. The notion of fuel cell technology being a 2040/2050 global strategy is fast giving way to the growing global sale of fuel cell cars, trucks, buses and trains, with ships offering new openings.

Row over 400ha land development excluding poor working class

Cape Town Concerns have been raised as to how the biggest development in the history of Stellenbosch would be at the exclusion of the poor and working class in the area.The development of the Adam Tas Corridor (ATC) was supported by the Western Cape government National Treasury the Stellenbosch municipality Stellenbosch University Stellenbosch Institute for Advanced Study and local business.The ATC is a 400ha area stretching along the R310 and R44 in Stellenbosch which includes parts of Kayamandi Cloetesville and Central Stellenbosch and is said to be five times bigger than the V&A Waterfront.Boland Black Business Chamber chairperson Monwa Luxande said: I had to learn about these plans myself and the documentation was lengthy and difficult for me to follow so how about the average person What is also apparent is that this serves only the old money in Stellenbosch and does not address the towns spatial apartheid legacy. People in Kayamandi are living on top of each other there is not even space for churches. The corridor stretches past Kayamandi and I can assure you no development will happen for us without us.

De Beers subdued, a Kumba blip, but Anglo steady on strongly priced metal sales

UNSCHEDULED maintenance hit output at Kumba Iron Ore in South Africa and subdued trading conditions for De Beers partly informed a significant reduction in diamond sales, but Anglo American kept sales steady, especially in the higher priced commodities. "We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore," said Mark Cutifani, CEO of Anglo, in comments to the firm's interim production report. There were full-year production adjustments at both De Beers and Kumba.

Rand retreats bonds flat

JOHANNESBURG The rand edged lower yesterday in cautious trade ahead of an interest rate decision that is set to test the currencys recent rally and its ability to draw yieldseeking investors.At 5pm the rand bid at R13.9712 to the dollar 6 cents softer than at the same time on Tuesday inching closer to the R14 mark that has in recent times determined the momentum of the currency either direction.The SA Reserve Bank meets today. According to a Reuters poll last week it is set to cut interest rates by 25 basis points while forward rate markets yesterday showed investors pricing in a close to 40percent probability of a cut by that margin.While a cut might reduce the rands carrytrade advantage the impact on the currency could be limited by expectations the US Federal Reserve will also cut rates on July31.Government bonds were flat with the yield on the benchmark 2026 instrument was at 8.025percent.On the bourse stocks fell alongside emerging market assets amid resurfacing worries over the USChina trade conflict.The benchmark JSE Top40 index was down 0.76percent at 51565.16 points while the broader all share index dropped 0.72percent to 57636.01 points.Aspen Pharmacare and Sappi were the worst performers on the blue chip index falling by 3.73percent to R100 and 3.08percent to R50.65 respectively.  REUTERS .

Mandela Day charity events in Gauteng

It's Mandela Day - a day when we get to help others in honour of the late Nelson Mandela.  If you are looking for activities in and around Gauteng that will impact the lives of others, we have you covered.  We have put together a list of Mandela Day events that are happening in the province. Mandela Day Mosaic HyProp, in collaboration with Rhodes Quality, will be donating 27,000 tins of canned food for the Mandela Day Mosaic.  The public is encouraged to participate by helping put together one of the largest food can mosaics ever constructed in South Africa. This event will be held at Clearwater Mall Piazza from 12:00 to 15:00.  All the food cans used in building the mosaic will be donated to LEAP Maths and Science Schools.  Miss SA and Blue Bulls Mandela Day event The Miss SA top 16 finalists - together with the Blue Bulls, will be celebrating their Mandela Day by hosting a children's charity fun day.

Child critical after being ejected from car

At 15H51 Wednesday afternoon Netcare 911 responded to reports of a collision on Duiker Road, Rispark AH Johannesburg. Reports from the scene indicate that the driver of an SUV lost control resulting in the vehicle rolling several times. Paramedics assessed the scene and found that a 47-year-old male and a 12-year-old female had sustained moderate injuries .

Prospect of SA rate cut stirs hope for retail stocks

Sarb expected to reduce its key interest rate on Thursday. It's been a tough year for South African retail stocks, battered by gloomy economic news. But hope is on the way. The South African Reserve Bank is expected to reduce its key interest rate Thursday for the first time since March 2018, starting a series of cuts that economists forecast could total as much as 75 basis points over six months.

JSE weaker amid trade jitters

The JSE fell on Wednesday, with platinum miners faring worst, as risk appetite abated amid another sign the US-China trade war is far from over. US President Donald Trump threatened new import tariffs on Chinese goods on Tuesday, saying the country had failed to live up to a pledge to increase purchases of US farm products. US retail sales numbers for June also weighed on emerging markets, with the consensus-beating data slightly reducing market expectations of a 50basis-point cut by the US Federal Reserve later in July.

EMERGING MARKETS-Stocks fall on trade worries, weak economic data

* Mainland China shares lead equity declines * Bank of Korea and Indonesia cut interest rates By Agamoni Ghosh July 18 (Reuters) - Emerging-market shares fell on Thursday amid weak economic data from Japan and disappointing corporate results in the United States, the latest signs the U.S.-China trade conflict was unlikely to be resolved anytime soon.MSCI's index for emerging-market shares .MSCIEF slid 0.2%, led by declines for mainland China shares .SSEC .CSI300 led declines, and Hong Kong's Hang Seng .HSI dropped 0.6%. Outside Asia, Moscow stocks .IMOEX fell 0.3%. Johannesburg .JTOPI trading was mostly flat. Most developing-world currencies .MIEM00000CUS gained against a tepid dollar. Growth worries have pushed central banks around the world to adopt a more dovish stance, following the U.S. Federal Reserve's lead, with the Bank of Korea going a step ahead and surprising with a rate cut on Thursday.South Korea's won KRW= rose 0.2% after the Bank of Korea unexpectedly cut interest rates on Thursday.

Richemont's watch sales decline as Hong Kong protests sting

Richemont reported a surprise drop in revenue from its watch business, with protests in Hong Kong cutting sales in a key luxury market for the owner of Cartier. The watch unit's sales slid 2% excluding currency shifts in the three months through June, the Geneva-based company said Thursday. The stock fell as much as 3.9%, trimming its gain this year to 33%.

Australia's South32 posts 69% rise in annual coking coal production

* Starts review of options for manganese alloy smelters * Receives bids for South Africa Energy Coal assets in June qtr (Adds details of manganese smelter review, S. Africa coal bids) July 18 (Reuters) - Australia's South32 Ltd on Thursday reported a 69% jump in full-year coking coal production, beating analyst estimates, as the diversified miner ramped up production at its Illawarra project. The company, spun off from mining giant BHP Group in 2015, also said it had received bids for its South Africa Energy Coal assets in the June quarter and was currently in talks with interested parties. Four sources familiar with the matter told Reuters last month that Seriti Resources and a consortium backed by global energy trader Mercuria were among up to six groups to have submitted final bids for the assets. Coking coal output from Illawarra rose to 5.4 million tonnes from 3.2 million tonnes for the year. UBS had estimated annual output of 5.3 million tonnes. South32's Illawarra operations at New South Wales in Australia accounts for nearly all of the company's coking coal output. The Perth-based miner has struggled to keep down unit costs at its Appin and Dendrobium collieries after moving to longwall mining, a method used to extract long panels of coal in a single slice. South32, the world's No.1 producer of manganese ore, also said it commenced a review of options for manganese alloy smelters "as changes in market dynamics have reduced the attractiveness of our exposure." (Reporting by Devika Syamnath in Bengaluru; Editing by Anil D'Silva) First Published: 2019-07-18 00:37:52 Updated 2019-07-18 01.

Man miraculously turns life around and starts his own business

Loyiso Basso fell victim to a life of crime and drugs, and so nearly became another statistic as poverty and negative influences in his township sucked him in. Somehow, Basso reached a turning point after growing tired of making his mother suffer and allowing his life to waste away. Inspired by his passion for cooking, Basso started his own restaurant two years ago.

UPDATE 1-Australia's South32 posts 69% rise in annual coking coal production

* Starts review of options for manganese alloy smelters * Receives bids for South Africa Energy Coal assets in June qtr (Adds details of manganese smelter review, S. Africa coal bids) July 18 (Reuters) - Australia's South32 Ltd S32.AX on Thursday reported a 69% jump in full-year coking coal production, beating analyst estimates, as the diversified miner ramped up production at its Illawarra project. The company, spun off from mining giant BHP Group BHP.AX in 2015, also said it had received bids for its South Africa Energy Coal assets in the June quarter and was currently in talks with interested parties. Four sources familiar with the matter told Reuters last month that Seriti Resources and a consortium backed by global energy trader Mercuria were among up to six groups to have submitted final bids for the assets. coal output from Illawarra rose to 5.4 million tonnes from 3.2 million tonnes for the year.

Business Maverick: US to Withhold F-35 Fighters From Turkey

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Business Maverick: A R1.2bn pot of toxic soup at EOH

Eight people. That's all. Eight people out of EOH's staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017.

Business Maverick: Limited Liability of Big Tech Under the Microscope

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Zuma testimony halted; Matjila - no bribes; retail sales grow; rate cut expected; Ford jobs; Musk's brainwave

The Zondo commission of inquiry into state capture has been adjourned until tomorrow after Zuma's lawyers objected to the panel's line of questioning and threatened to walk out. It came after Zuma objected to being cross-examined and said he was concerned about being asked about governance details and had an issue with having to go through "all those details." This is after he was asked questions about former Public Enterprises minister Barbara Hogan who said she faced immense pressure on the appointment of Transnet CEO, Siyabonga Gama.  This is another allegation that Zuma has denied. The Democratic Alliance has asked the Zondo commission in a letter to investigate the role of the ANC's cadre deployment committee in facilitating state capture by appointing people to key positions in government and state-owned enterprises.

PRESS DIGEST- British Business - July 18

July 18 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - UK's Chartered Institute of Credit Management has suspended 18 large businesses including British American Tobacco Plc and Prudential Plc from the Prompt Payment Code for failing to pay supplier invoices within 60 days.

GLOBAL MARKETS-Stocks wobble, bond yields fall on earnings woes, trade worries

* All Wall St indexes down: Dow 0.4%, S&P500 0.7%, Nasdaq 0.5% * CSX tumbles on weak results, Netflix sinks in after-hour trading * Treasury yields slump; 10yr, 30yr shed over 7 bps each overnight * Precious metals in demand: gold gains over 1%, silver up 2.5% * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Tomo Uetake TOKYO, July 18 (Reuters) - Asian shares wobbled in early Thursday trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, helping to underpin solid demand for safe-haven U.S. Treasuries.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down a touch, while Japan's benchmark Nikkei .N225 fell 1.3% and Australian shares .AXJO dropped 0.4%.South Korea's market .KS11 was off 0.4%. Moments earlier, the Bank of Korea unexpectedly cut its policy interest rate for the first time in three years, as uncertainties from a trade dispute with Japan added to anxiety about the economy's outlook.

GLOBAL MARKETS-Stocks wobble, bond yields fall on earnings woes, trade worries

* All Wall St indexes down: Dow 0.4%, S&P500 0.7%, Nasdaq 0.5% * CSX tumbles on weak results, Netflix sinks in after-hour trading * Treasury yields slump; 10yr, 30yr shed over 7 bps each overnight * Precious metals in demand: gold gains over 1%, silver up 2.5% * Asian stock markets: tmsnrt.rs/2zpUAr4 By Tomo Uetake TOKYO, July 18 (Reuters) - Asian shares wobbled in early Thursday trading as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, helping to underpin solid demand for safe-haven U.S. Treasuries. MSCI's broadest index of Asia-Pacific shares outside Japan was down a touch, while Japan's benchmark Nikkei fell 1.3% and Australian shares dropped 0.4%.

Business Maverick: G7 finance chiefs pour cold water on Facebook's digital coin plans

Group of Seven finance chiefs cast a cloud over prospects for Facebook's Libra digital coin on Wednesday, insisting tough regulatory problems would have to be worked out first. The massive social media company's plan to launch a digital coin has met with a chorus from regulators, central bankers and governments saying it must respect anti-money-laundering rules and ensure the security of transactions and user data. But there are also deeper concerns that the powers of big tech companies increasingly encroach on areas belonging to governments, like issuing currency. "The sovereignty of nations cannot be jeopardised," French Finance Minister Bruno Le Maire told journalists after chairing the first day of the two-day meeting. "The overall mood around the table was clearly one of important concerns about the recent Libra announcements, and a shared view that action is needed urgently," he added. German Finance Minister Olaf Scholz said Facebook's plans do not "seem to be fully thought through", adding that there were also data security questions. "I am convinced that we must act quickly and that (Libra) cannot go ahead without all legal and regulatory questions being resolved," Scholz told journalists. France, which chairs the Group of Seven advanced economies this year, has asked European Central Bank executive board member Benoit Coeure to set up a G7 task force to look into crypto-currencies and digital coins like the Libra. Coeure presented a preliminary report to ministers and central bankers at the meeting, in the quaint chateau town of Chantilly, north of Paris. Central bankers say that if Facebook wants to take deposits, it needs a banking licence, which would subject it to the strict regulation that goes with operating in that industry. Some central bankers also say that allowing people to transact anonymously is a non-starter given financial sector regulations that require payments firms to hold basic information about their customers. JAPAN: GLOBAL CONSENSUS NEEDED Bank

Business Maverick: Netflix Stock Plunges as Customers Fall on Price Hike

Netflix shares plunged as much as 13% to $314 in late trading after Netflix reported the loss of 130,000 customers in the U.S. — the result of higher prices and a weak slate of TV shows. It  signed up  2.8 million subscribers internationally in the period, roughly half what the company predicted.

PE Business News: Ramaphosa orders cabinet intervention in go-slow SA ports

PE : Ramaphosa orders cabinet intervention in go-slow SA ports : Promote your business on BuyPE and MyPR. Ramaphosa orders cabinet intervention in go-slow SA ports: CAPE TOWN - President Cyril Ramaphosa on Wednesday announced that he has instructed two of his ministers to intervene in a go-slow at South African ports, as tensions rising almost brought operations … Source: "Port Elizabeth" business - BingNews. Ford […] - MyPE News Submit and get free press releases here: MyPR Free Press Release .

South32 reports strong end to FY2019

PERTH (miningweekly.com) - Diversified miner South32 has reported a strong finish to the 2019 financial year, with revenue equivalent production growing by 10% in the June quarter and by 3% in the full year, while record production was achieved at the Hillside aluminium operation, and metallurgical coal production from the Illawarra operation increased by 57%. South32 CEO Graham Kerr on Thursday reported that alumina production for the full year had reached 5.05-million tonnes in the full year, down slightly from the 5.06-million tonnes reported at the end of the 2018 financial year. Alumina production from the Brazil alumina operations declined by 4% during the year, to 1.2-million tonnes, as boiler performances and power outages impacted production.

SA Inc acts in bad faith when it blames the economy for its failures

Thriving companies are proof that good management can avert losses even in tough times The state of the local economy, rising social unrest and uncertainty around policy make it very easy to understand the lack of faith that investors have in the local equity market. Investor sentiment is further dampened by the blows to corporate SA following the numerous corporate scandals that have erupted in recent times. Right now, it is difficult to see the light at the end of the tunnel, and this is only exacerbated if one reads a newspaper, watches the news or listens to the radio. It will likely result in the conviction that SA is the next Venezuela or Zimbabwe, the rand is on a one-way trajectory, foreigners are unwilling to invest in SA, the consumer is overburdened, corruption is rife, or something along those lines.

Rally: New spectator friendly drifting stage

RALLY cars are heading towards Nelson Mandela Bay for participation in round four of the South African National Rally Championship, which this weekend will start and finish at Baywest Mall. The event formerly known as the Volkswagen Algoa National Rally, dates back to 1983, where none other than Sarel van der Merwe took the inaugural win in his Audi Quattro. The past winners list of the event includes multiple South African Champions.

EOH: The suspicious transactions inside the company

EOH holdings tumbled on the JSE yesterday after an investigation by ENSafrica revealed the rot that involved a series of suspicious transactions by a group of individuals which the information and technology group said had been reported to the Hawks. The stock fell nearly 13 percent in early trade before closing at R20.70 after it reported that the irregular tenders amounted to nearly R1.2 billion. Chief executive Stephen van Coller said eight individuals were implicated in the report, but their actions affected all 11 000 employees in the group.

South African Markets - Factors to watch on July 18

KUMBAIO:   47,483     0 (0.00%)   18/07/2019 00:00 JOHANNESBURG, July 18 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Thursday. ECONOMIC EVENTS - South Africa-Central Bank Rates-Repo Rate. 1300 GMT COMPANIES - Q1 2020 Vodacom Group Trading Statement Release. SOUTH AFRICAN MARKETS South Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. On the bourse, stocks fell alongside emerging market assets amid resurfacing worries over the U.S-China trade conflict. GLOBAL MARKETS The dollar slipped on Thursday as risk aversion in the broader markets pushed benchmark U.S. yields to a nine-day low. The dollar index .DXY versus a basket of six major currencies was down 0.2% at 97.081. WALL STREET U.S.

WATCH: Stock picks — Naspers and Ferrari

Wayne McCurrie from FNB Wealth & Investments and David Shapiro from Sasfin Securities talk to Business Day TV Wayne McCurrie from FNB Wealth & Investments chose Naspers as his stock pick of the day and David Shapiro from Sasfin Securities chose Ferrari. McCurrie said: "I've seen valuations for Naspers from R4,500-R6,000 a share over time, but they are going for this listing there's bound to be some hype around that and the one part of Naspers has now gone positive cash flows and profits." Shapiro said: "I'm going Ferrari, I'm big into luxury at the moment, I think just having done a field trip in the US, it's massive and [French billionaire] Bernard Arnault is now the second richest man in the world." Or listen to the full a.

EMERGING MARKETS-Stocks fall on trade worries, weak economic data

* Mainland China shares lead equity declines * Bank of Korea and Indonesia cut interest rates By Agamoni Ghosh July 18 (Reuters) - Emerging-market shares fell on Thursday amid weak economic data from Japan and disappointing corporate results in the United States, the latest signs the U.S.-China trade conflict was unlikely to be resolved anytime soon. MSCI's index for emerging-market shares slid 0.2%, led by declines for mainland China shares led declines, and Hong Kong's Hang Seng dropped 0.6%. Outside Asia, Moscow stocks fell 0.3%.

LIBERTY HOLDINGS LIMITED - Trading Statement in respect of the six months ended 30 June 2019

Liberty Holdings Limited Registration number 1968/002095/06 Incorporated in the Republic of South Africa Share code: LBH ISIN code: ZAE0000127148 ("Liberty Holdings" or "the Group") TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 30 JUNE 2019 Shareholders are advised that Liberty Holdings is currently in the process of compiling its results for the six months ended 30 June 2019. This trading statement provides an indication of a range for normalised headline earnings per ordinary share, headline earnings per ordinary share and basic earnings per ordinary share pending finalisation of the consolidation of the half year results. Liberty Holdings' interim results will be released on the Stock Exchange News Service of the JSE Limited on 1 August 2019. Shareholders are advised that normalised headline earnings(1) per ordinary share, the Group's primary earnings measure, is expected to be between 45% to 55% (between 698,9 cents and 747,1 cents per ordinary share) higher than the six months ended 30 June 2018 ("the comparative period"). The Shareholder Investment Portfolio ("SIP") benefitted significantly from improved investment market returns, particularly in respect of equities, in the first half of 2019.

UPDATE 1-Anglo American's Q2 output rises 2%, Minas Rio ramps up

LONDON, July 18 (Reuters) - Anglo American AAL.L on Thursday said the ramp-up of iron ore at Minas Rio in Brazil and higher volumes of coking coal had offset reduced diamond production, raising second-quarter output by 2% and keeping the company on track to meet its 2019 targets. Prices of iron ore, used with coking coal to make steel, have outperformed other base metals, reaching five-year highs, after a Vale VALE3.SA dam disaster in Brazil led to production shut-ins. CEO Mark Cutifani said Anglo American's production had been boosted following the ramp-up of Minas Rio and a strong performance from coking coal after plant upgrade work in the first quarter. "We remain broadly on track overall to deliver this full year's production targets," he said in a statement.De Beers' diamond production fell by 14% year on year as work goes on at Venetia in South Africa to move to underground mining from open pit and against a backdrop of weaker demand. Citing "prevailing market conditions," Cutifani said De Beers will continue to produce in response to demand for the year. Copper production increased by 1% and platinum rose 3% year on year.Minas Rio's iron ore production climbed to 5.9 million tonnes. Anglo American restarted operations there in December after receiving regulatory approval to step up production following a prolonged outage because of a leak. or coking, coal production increased by 11% following site improvements, while thermal coal, used for power, fell by 8% because of a lack of water..

Anglo American cuts diamond production goal as buyers balk

Demand for diamonds remains weak. Diversified miner Anglo American lowered its forecast for diamond production as demand from its customers slumped in the first half of the year. Anglo said its De Beers unit will now mine about 31 million carats this year compared with an earlier target of 31 million to 33 million carats. The company said it's producing to match demand after "weaker trading conditions" this year. Key insights Diamond miners are facing a mini crisis as demand remains weak, while supply, especially for smaller and cheaper stones, is abundant.

GLENCORE PLC - GLN: Transactions In Own Shares-18 July 2019

GLN 201907180014A GLN: Transactions In Own Shares-18 July 2019 GLENCORE PLC (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 18 July 2019 Transactions in own shares-17 July 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 17 July 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,354,382 Lowest price paid per share (GBp): 269.2500 Highest price paid per share (GBp): 272.2000 Volume weighted average price paid per share (GBp): 270.8892 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 941,661,446 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,644,538,620. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 270.8806 1,319,531 BATS 271.2129 35,884 Chi-X 270.8890 998,967 Transaction details In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the i

COMPAGNIE FINANCIERE RICHEMONT SA - Trading update for the first quarter ended 30 June 2019

Code(s): CFR PDF: Wrap Text Trading update for the first quarter ended 30 June 2019 Compagnie Financiere Richemont SA Depositary Receipts issued by Richemont Securities SA ("Richemont Securities" or "Richemont") (Incorporated in Switzerland) Share code: CFR ISIN: CH0045159024 Depositary Receipt Code: CFR RICHEMONT COMPANY ANNOUNCEMENT 18 JULY 2019 TRADING UPDATE FOR THE FIRST QUARTER ENDED 30 JUNE 2019 Financial highlights · Sales for the quarter increased by 12% at actual exchange rates and by 9% at constant exchange rates compared to the prior year period · Excluding Online Distributors, sales rose by 6% at actual exchange rates and by 3% at constant exchange rates; at actual exchange rates, o Double digit growth in Japan and Asia Pacific, notably in mainland China, and high single digit growth in the Americas more than compensated for decreases in Europe and the Middle East and Africa o Good retail sales growth against strong comparatives, whilst wholesale sales remained subdued; strong online retail sales' performance o Double digit growth at the Jewellery Maisons, slight growth at the Specialist Watchmakers, and Other business area in line with the prior year period +-------------+----------+----------+--------------+--------------+ | |April-June|April-June| Change at| Change at| | | 2019 EURm|2018* EURm| constant| actual| | | | |exchange rates|exchange rates| | | | | versus prior| versus prior| | | | | period (%)| period (%)| +-------------+----------+----------+--------------+--------------+ |Sales by | | | | | |region | | | | | +-------------+----------+----------+--------------+--------------+ |Europe | 1 072| 958| +12%| +12%| +-------------+----------+----------+--------------+--------------+ |Asia Pacific | 1 423| 1 268| +10%| +12%| +-------------+----------+----------+--------------+--------------+ |Americas | 698| 600| +10%| +16%| +-------------+----------+----------+--------------+--------------+ |Japan | 298| 263| +8%| +13%| +-------------+----------+----------+---------

Miner Anglo American posts 2% rise in second-quarter output

July 18 (Reuters) - Miner Anglo American said on Thursday its overall output rose 2% in the second quarter, benefiting from a ramp up in iron ore production at its Minas-Rio mine in Brazil and increased metallurgical coal output. "We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore," Chief Executive Officer Mark Cutifani said in a statement. The global miner said Minas-Rio iron ore production for the quarter ended June 30 was 5.9 million tonnes and metallurgical coal output rose 11% to 5.8 million tonnes following the completion of maintenance in the prior quarter. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Arun Koyyur) 2019-07-18 08.

Watch sales stall at Richemont as Hong Kong protests bite

* Hong Kong sales fall at Richemont after protests * Adds to watch difficulties, amid distribution changes * Mainland China, jewellery brands bright spots in Q1 * Shares fall over 2% (Updates with shares, Swiss watch export data) By Sarah White PARIS, July 18 (Reuters) - Strong demand in mainland China helped Cartier-owner Richemont offset a weaker performance elsewhere in its first quarter, as protests in Hong Kong hit sales, revenues fell in Europe and its watch business faltered. The group relies on jewellery for the bulk of sales, with brands that also include Van Cleef & Arpels, and strong momentum in this sector has persuaded rivals, including Kering's Gucci, to branch into high-end gems. But Geneva-based Richemont is also a major player in the tougher watch industry, which is under pressure more broadly as consumers tastes shift, and has now been hit by political protests in recent weeks in Hong Kong. In June, the United States overtook the Chinese-ruled city as the world's biggest export market for Swiss watches, export data from Switzerland showed on Thursday, as sales into Hong Kong slumped. "Sales in Hong Kong retreated, additionally impacted by the relative strength of the Hong Kong dollar and the recent street protests," Richemont said of its overall business there. Its shares were down 2.35% at 0730GMT, while those in rival Swatch, which shone on the stock market on Wednesday after it gave a rosy outlook for the second half of the year, were down 0.7%. After buying back large amounts of excess watch stocks in recent years, Richemont, known for high-end IWC and Jaeger-LeCoultre luxury timepieces, has also been reducing wholesale distribution and keeping a tight leash on new inventory. That shake-up of its retail network had contributed to the 2% fall in watch sales at constant currencies in the three months to e

ANGLO AMERICAN PLC - Production Report for the second quarter ended 30 June 2019

Anglo American plc (the "Company") Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM NEWS RELEASE 18 July 2019 Anglo American plc Production Report for the second quarter ended 30 June 2019 Mark Cutifani, Chief Executive of Anglo American, said: "Production is up 2%(1) for the quarter, due to the successful ramp-up at Minas-Rio and strong performance at Metallurgical Coal following the longwall moves and plant upgrade work in Q1. Kumba Iron Ore continues to improve following Q1 production challenges. De Beers, in view of prevailing market conditions, will continue to produce to demand for the year. We remain broadly on track overall to deliver this full year's production targets, with an increase to Minas-Rio guidance offsetting two reductions at De Beers and Kumba Iron Ore." Highlights - De Beers' diamond production decreased by 14% to 7.7 million carats in the quarter, as we continue to produce to market demand and as Venetia transitions from open pit to underground. - Copper production increased by 1% to 159,100 tonnes due to strong performance at Los Bronces and Collahuasi. - Platinum production increased by 3%(2) to 520,300 ounces and palladium decreased by 1%(2) to 347,200 ounces, due to a change in mix of production from each operation. - Kumba's iron ore production decreased by 9% to 10.5 million tonnes due to plant maintenance. - Minas-Rio's iron ore production was 5.9 million tonnes as its strong ramp-up continues ahead of schedule. - Metallurgical coal production increased by 11% to 5.8 million tonnes due to generally stronger performance and the completion of Q1 longwall moves. - Thermal coal production decreased by 8% to 6.6 million tonnes primarily due to local drought conditions at Cerrejon. Production Summary

South32 reports strong end to FY2019

18TH JULY 2019 BY: ESMARIE IANNUCCI CREAMER MEDIA SENIOR DEPUTY EDITOR: AUSTRALASIA SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ PERTH (miningweekly.com) - Diversified miner South32 has reported a strong finish to the 2019 financial year, with revenue equivalent production growing by 10% in the June quarter and by 3% in the full year, while record production was achieved at the Hillside aluminium operation, and metallurgical coal production from the Illawarra operation increased by 57%. South32 CEO Graham Kerr on Thursday reported that alumina production for the full year had reached 5.05-million tonnes in the full year, down slightly from the 5.06-million tonnes reported at the end of the 2018 financial year. ADVERTISEMENT Alumina production from the Brazil alumina operations declined by 4% during the year, to 1.2-million tonnes, as boiler performances and power outages impacted production. Meanwhile, aluminium production remained stagnant at 982 000 t. ADVERTISEMENT However, South32 reported that production from the Hillside aluminium operation reached a record 715 000 t in the full year, up from the 712 000 t in the previous financial year as the smelter continued to test its maximum technical capacity, and despite an increase in the frequency of load-shedding events. Energy coal production for the full year was down by 7%, to 26.2-million tonnes, compared with the 28.3-million tonnes delivered in the 2018 financial year, as production from the South African energy coal division on the back of extended outages of the Klipspruit dragline following an incident in August of last year. The incident has been confirmed as an insurable event, and initial progress payment for the volume and cost impact of the outage was awarded during June, South32 told shareholders. During the quarter ended June, South32 also received bids for its South African energy coal operation, with the miner saying that it was currently engaging with bidders to finalise these offers. Once an

SOUTH32 LIMITED - Quarterly Report June 2019

S32 201907180009A Quarterly Report June 2019 South32 Limited (Incorporated in Australia under the Corporations Act 2001 (Cth)) (ACN 093 732 597) ASX, LSE, JSE Share Code: S32 ADR: SOUHY ISIN: AU000000S320 Quarterly Report June 2019 • Achieved record production at Hillside Aluminium and strong ‘We had a strong finish to the year, with performance at Mozal Aluminium, despite an increase in revenue equivalent production growing 10 load-shedding events in FY19. per cent in the quarter and 3 per cent for the year. • Increased production at Worsley Alumina by 12% in the June quarter due to an uplift in calciner availability as we deliver initiatives to sustainably increase to nameplate capacity ‘We achieved record annual production at from FY20. Hillside Aluminium, increased production at Illawarra Metallurgical Coal by 57 per cent • Maintained higher manganese ore production, delivering 5.5Mt into and delivered 5.5 million tonnes of a strong market during the year, exceeding revised production manganese ore into a favourable market. guidance at South Africa Manganese and operating the Australia Manganese Premium Concentrate Ore (PC02) circuit above design capacity.

Adjusted revenue from Bank of America's global market business, which includes bond and equities trading, fell 5.7% to $4.18

Bank of America Corp lowered its annual net interest income guidance on Wednesday to reflect a weakened interest rate environment as the second-largest US lender reported higher-than expected earnings fuelled by strong consumer trends. Rate trends have prompted the bank to scale back its expected full-year net interest margin, a key measure of profitability, to 2% from 3%, executives said on a conference call with analysts. Net interest income, the difference between interest earned from lending and how much the bank pays for deposits, rose 6% last year.

TELKOM SA SOC LIMITED - Interest payment notifications - TL27 TL29

TL27 TL29 201907180015A Interest payment notifications - TL27 TL29 Telkom SA SOC Limited (Incorporated in the Republic of South Africa) (Registration number 1991/005476/30) JSE Bond Code: BITEL INTEREST PAYMENT NOTIFICATIONS Bondholders are advised of the following interest payments: Bond code: TL27 ISIN: ZAG000150889 Coupon rate: 8,708% Interest period: 24 April 2019 to 23 July 2019 Interest amount due: R 10 855 178,08 Payment date: 24 July 2019 Date convention: Following business day Bond code: TL29 ISIN: ZAG000150954 Coupon rate: 8,998% Interest period: 24 April 2019 to 23 July 2019 Interest amount due: R 11 216 684,93 Payment date: 24 July 2019 Date convention: Following business day 18 July 2019 Debt Sponsor Nedbank Corporate and Investment Banking, a division of Nedbank Limited Date: 18/07/2019 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

KAP INDUSTRIAL HOLDINGS LIMITED - New Financial Instrument Listing KAP014

Release Date: 18/07/2019 10:00 Code(s): KAP014 PDF: Wrap Text New Financial Instrument Listing - KAP014 KAP INDUSTRIAL HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1978/000181/06) ("KAP" or the "Company") Stock Code: KAP014 ISIN Code: ZAG000160888 New Financial Instrument Listing - KAP014 The JSE Limited has granted a listing to KAP ("KAP014") under its Domestic Medium Term Note programme dated 5 June 2014. The notes are jointly and severally and unconditionally and irrevocably guaranteed by KAP Automotive Proprietary Limited; KAP Bedding Proprietary Limited; KAP Diversified Industrial Proprietary Limited; Safripol Proprietary Limited; Unitrans Passenger Proprietary Limited; and Unitrans Supply Chain Solutions Proprietary Limited. Authorised programme size: R10 000 000 000.00 Total notes outstanding including this issuance: R5 338 000 000.00 Instrument type: Floating rate note Bond Code: KAP014 Nominal issued: R500 000 000.00 Issue price: 100% Coupon: 3 Month JIBAR as at 16 July 2019 plus 160 bps Coupon Indicator: Floating Trade type: Price Final maturity date: 19 July 2024 Books close: 9 January, 9 April, 9 July, 9 October Interest payment date(s): 19 January, 19 April, 19 July, 19 October Last day to register: By 17:00 on 8 January, 8 April, 8 July, 8 October Issue date: 19 July 2019 Date convention: Following Interest commencement date: 19 July 2019 First interest payment date: 19 October 2019 ISIN: ZAG000160888 Additional information: Senior Unsecured Floating Notes Additional terms and N/A conditions: The Applicable Pricing Supplement will be available on KAP's website, www.kap.co.za.

BRIEF-Anglo American Says Q2 Production Up 2%

July 18 (Reuters) - Anglo American PLC AAL.L :* ANGLO AMERICAN PLC - ANGLO AMERICAN Q2 2019 PRODUCTION REPORT* ANGLO AMERICAN PLC - DE BEERS' DIAMOND PRODUCTION DECREASED BY 14% TO 7.7 MILLION CARATS IN QUARTER* ANGLO AMERICAN PLC - QTRLY COPPER PRODUCTION INCREASED BY 1% TO 159,100 TONNES* ANGLO AMERICAN PLC - PRODUCTION IS UP 2%.

ASHBURTON MANAGEMENT COMPANY (RF) PROPRIETARY LIMITED - Distribution announcement -ASHT40

Distribution announcement -ASHT40 Ashburton Management Company RF Proprietary Limited Ashburton Top 40 ETF A portfolio in the Ashburton Collective Investment Scheme ("the portfolio") registered in terms of the Collective Investment Schemes Control Act, 45 of 2002 (Incorporated in the Republic of South Africa) (Date of incorporation: 15 October 2008) Share Code: ASHT40 ISIN: ZAE000215364 ("ASHTOP40") DISTRIBUTION ANNOUNCEMENT The manager and trustees (namely Ashburton Management Company RF Proprietary Limited and Standard Chartered Bank) have resolved to make a quarterly distribution to holders of Ashburton Top 40 securities for the quarter ended 30 June 2019. The aggregate distribution will amount to 39.82685 cents per Ashburton Top 40 security and is constituted as follows: Alpha Dividend/Interest Foreign/ Gross Subject to *Withholding Net code Local Distribution Withholding Tax (%) Distribution (Cents per tax (Cents per unit) Yes/ No unit) ASHT40 Interest Local 0.41199 No 0.41199 Dividend Local 31.63693 Yes 20 25.30954 Dividend REITs 4.10317 Yes 20 3.28254 Dividend Foreign 3.26396 Yes 20 2.61117 Other income Local 0.41080 No 0.41080 39.82685 32.02604 1. Taxable Foreign Dividends Breakdown by Source: Name

TIGER BRANDS LIMITED - Disposal of securities by Janus Henderson Group Plc

Disposal of securities by Janus Henderson Group Plc TIGER BRANDS LIMITED "Tiger Brands" or "the Company" (Incorporated in the Republic of South Africa) (Registration number 1994/017881/06) Share code: TBS ISIN: ZAE000071080 DISPOSAL OF SECURITIES BY JANUS HENDERSON GROUP PLC In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Tiger Brands has received formal notification that Janus Henderson Group PLC has disposed of a beneficial interest in the ordinary shares of the Company, such that the total interest held by Janus Henderson Group PLC now amounts to 4.81% of the total issued ordinary shares of the Company. Bryanston 18 July 2019 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 18/07/2019 04:35:00 Produced by the JSE SENS Department.

NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVAL

Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVAL NEWFUNDS EQUITY VALUE EXCHANGE TRADED FUND PORTFOLIO Share code: NFEVAL ISIN: ZAE000252466 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) ("NewFunds") DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2019 NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 as follows: Alpha code Dividend/Interest Foreign/ Local Gross Subject to *Withholding Net Distribution Withholding tax Tax (%) Distribution (Cents per unit) Yes/ No (Cents per unit) NFEVAL Interest Local 0.07126 No 0.07126 Dividend Local 3.74595 Yes 20 2.99676 Dividend 1 1.34456 Yes 20 1.07565 Foreign Dividend REITs** 1.02846 Yes 20 0.82277 Dividend Foreign (HMN)***S64N 0.27801 No 0.

UPDATE 2-Global trade worries weigh down FTSE 100; pub chain Ei...

* FTSE 100 down 0.5%, FTSE 250 down 0.4% * Pub chain Ei Group up after buyout offer * Investors wary as global trade war risks resurface * ASOS sinks after latest profit alert * Tobacco stocks up after Philip Morris (NYSE:PM) results (Adds company news items, updates share moves) By Shashwat Awasthi and Muvija M July 18 (Reuters) - Britain's FTSE 100 followed other major stock markets lower on Thursday as initial batches of corporate earnings jangled nerves over global growth, while losses for London's mid-cap index were capped by a buyout of pub operator Ei Group. All but two of the blue-chip index's .FTSE sectors ended in the red as it shed 0.5% - its biggest intraday fall in nearly two weeks, while the mid-cap FTSE 250 .FTMC lost 0.4%. Among major drags on the main index were oil heavyweights Shell RDSa.L and BP BP.L , which tracked a slump in crude prices amid expectation that output would rise in the Gulf of Mexico following last week's hurricane, as well as miners .FTNMX1770 . O/R Bright spots on the index were tobacco giants British American Tobacco (JO:SNHJ) and Imperial Brands (LON:IMB) after U.S. peer Philip Morris PM.N reported its sixth consecutive quarter of profit beat.

Africa Poised to Break Out as Distributors Mine Prestige TV Projects for Global Markets

Distribution When South African writer-director Gareth Crocker was developing "Shadow," a series about an ex-cop with superpowers who fights crime in Johannesburg's underworld, he took the unusual and risky approach of bypassing local broadcasters to get the project made. The show's executive producers wanted to keep the rights to a series they thought had global potential. "We simply produced and financed the show ourselves before taking it to the market," Crocker says, adding that the eight-part series was made on an "extremely modest budget" in a country where an hour-long episode costs around $100,000.

BUSINESS MAVERICK: SARB cuts repo by 25 basis points while repeating pleas for structural reform

Governor of the South African Reserve Bank, Lesetja Kganyago, Cape Town, 20 February 2019. Photo: Leila Dougan The South African Reserve Bank stuck to the script on Thursday, July 18 when its Monetary Policy Committee cut the key lending, or repo rate, by 25 basis points. The tone of the announcement was on the hawkish side and the bank must be tiring of its plea for wider structural reforms to complement monetary policy in order to get economic growth fired up.

Stock Pick — Mr Price Group

Steven Schultz from Momentum chose Mr Price Group Ltd as his stock pick of the day.

BUSINESS MAVERICK: SARB cuts repo by 25 basis points while repeating pleas for structural reform

The South African Reserve Bank stuck to the script on Thursday, July 18 when its Monetary Policy Committee cut the key lending, or repo rate, by 25 basis points. The tone of the announcement was on the hawkish side and the bank must be tiring of its plea for wider structural reforms to complement monetary policy in order to get economic growth fired up..

AB InBev explores asset sale after dropping Asia IPO plan -WSJ

July 18 (Reuters) - Anheuser-Busch InBev is considering selling off business units in South Korea, Australia and Central America to cut its massive debt, after cancelling a planned listing of its Asia-Pacific unit, the Wall Street Journal reported on Thursday. The world's largest brewer hopes to raise at least $10 billion from asset sales, the WSJ reported on.wsj.com/32yuIpr , citing people familiar with the matter. Last week, AB InBev, which was aiming to sell as much as $9.8 billion in Budweiser stock to seek relief from its heavy debt burden, called off its listing of its Asia Pacific unit in Hong Kong citing "several factors, including prevailing market conditions." The company hopes to get its debt down to about $80 billion.

Business News - 18 July 2019

As expected, the Sarb cut interest rates by 25 basis points, Asia growth gives Richemont a welcomed boost and Anglo American is on course to meet its full-year targets..

Rand firms while global markets jittery on trade talks

British American Tobacco up almost 6%. Equity markets in Europe were subdued towards the end of the trading day, with much of the same in the US market with the Dow, Nasdaq and S&P 500 in negative territory. However, the local market bucked the trend, with the Alsi trading up 0.37%. The Reserve Bank announced a 25 basis point rate cut and the rand firmed against major currencies.

Morgan Stanley traders, investment bankers falter despite overall winning quarter

When Morgan Stanley Chief Executive James Gorman warned in mid-June that the trading environment during the second quarter was "challenging," he may have been underselling the bank's predicament. Morgan Stanley equities and fixed income traders suffered through the worst quarter among the five big U.S. investment banks , at least when it comes to year-on-year performances.

Black business welcomes repo rate cut

JOHANNESBURG - The Black Business Council (BBC) has welcomed the decision by the South African Reserve Bank (SARB) to cut the repurchase rate (repo rate) by 25 basis points. SARB Governor Lesetja Kganyago announced on Thursday that the monetary policy committee (MPC) unanimously decided to reduce the repo rate by 25 basis points to 6.5 percent per annum, with effect from Friday. The repo rate has remained unchanged since November of 2018 when the MPC introduced a 25-basis point hike, which raised the repo rate to 6.75 percent.

NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution Announcement for the Quarter Ended 31 March 2019 - GIVISA

- GIVISA NEWFUNDS S&P GIVI SA TOP 50 INDEX ETF PORTFOLIO Share code: GIVISA ISIN: ZAE000205225 Portfolios in the NewFunds (RF) Proprietary Limited Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds Proprietary Limited. (Registration Number 2005/034899/07) DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 31 MARCH 2019 NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 as follows: Alpha code Dividend/ Foreign/ Gross Subject to Withholding *Withholding Net Interest Local Distribution tax Tax (%) Distribution (Cents per unit) Yes/ No (Cents per unit) GIVISA Interest Local 0.57674 No 0.57674 Dividend Local 8.45277 Yes 20 6.76222 Dividend 1 11.95176 Yes 20 9.56141 Foreign Dividend REITs** 5.34143 Yes 20 4.27314 Dividend Foreign (ITU)*** (S64N) 0.46639 No

NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVOL

Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVOL NEWFUNDS LOW VOLATILITY EXCHANGE TRADED FUND PORTFOLIO Share code: NFEVOL ISIN: ZAE000252458 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) ("NewFunds") DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2019 NewFunds has today finalised a distribution to holders of ETF securities ("investors") recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 as follows: Alpha code Dividend/Interest Foreign/ Local Gross Subject to *Withholding Net Distribution Withholding tax Tax (%) Distribution (Cents per unit) Yes/ No (Cents per unit) NFEVOL Interest Local 0.05315 No 0.05315 Dividend Local 3.22014 Yes 20 2.57611 Dividend Foreign1 0.96638 Yes 20 0.77310 Dividend Foreign (ANH)***S64N 0.19255 No 0.19255 Dividend REITs** 1.17313 Yes 20 0.93850 5.60534 4.53341

Business Maverick: Blunders - Episode 148

In other news... July 18 marks Nelson Mandela day. All over the country, South African citizens devote 67 minutes to charitable causes in memory of Madiba.

GLOBAL MARKETS-Stocks fall on trade, earnings caution; oil drops

* MSCI world equity falls for third straight day * European shares bounce on ECB inflation revamp report * U.S.-China trade war takes toll on earnings (Updates with open of U.S. markets, changes dateline; previous LONDON) By Chuck Mikolajczak NEW YORK, July 18 (Reuters) - A gauge of global shares declined for a third straight session on Thursday on worries over how the trade war between the United States and China could dent corporate earnings, while oil prices dropped on expectations of rising output. On Wall Street, shares of Netflix NFLX.O plunged 11.40% in the wake of its quarterly results as it missed targets for new subscribers overseas. HON.N , up 1.99%, helped curb losses as its results topped expectations and it raised its full-year outlook.

South Africa's state owned companies: a complex history that's seldom told

Eskom and Iscor were formed to feed the railway network's need for cheap electricity and steel ShutterstockThe problems of South Africa's state owned enterprises are in the headlines every day. Yet many have existed for over 80 years. Why were they established in the first place and how have they survived this long? Their histories provide clues for their successes and failures. State owned enterprises in South Africa date back to the 19th century when Paul Kruger's Zuid Afrikaansche Republiek tried to promote local industries to stave off British control.

Hong Kong protests dampen Richemont watch sales

(Bloomberg) -  Richemont reported a surprise drop in revenue from its watch business, with protests in Hong Kong cutting sales in a key luxury market for the owner of Cartier. The watch unit's sales slid 2% excluding currency shifts in the three months through June, the Geneva-based company said Thursday. The stock fell as much as 3.9%, trimming its gain this year to 33%.

ASHBURTON MANAGEMENT COMPANY (RF) PROPRIETARY LIMITED - Distribution announcement -ASHT40

ASHT40 201907180046A Distribution announcement -ASHT40 Ashburton Management Company RF Proprietary Limited Ashburton Top 40 ETF A portfolio in the Ashburton Collective Investment Scheme (‘the portfolio') registered in terms of the Collective Investment Schemes Control Act, 45 of 2002 (Incorporated in the Republic of South Africa) (Date of incorporation: 15 October 2008) Share Code: ASHT40 ISIN: ZAE000215364 (‘ASHTOP40') DISTRIBUTION ANNOUNCEMENT The manager and trustees (namely Ashburton Management Company RF Proprietary Limited and Standard Chartered Bank) have resolved to make a quarterly distribution to holders of Ashburton Top 40 securities for the quarter ended 30 June 2019. The aggregate distribution will amount to 39.82685 cents per Ashburton Top 40 security and is constituted as follows: Alpha Dividend/Interest Foreign/ Gross Subject to *Withholding Net code Local Distribution Withholding Tax (%) Distribution (Cents per tax (Cents per unit) Yes/ No unit) ASHT40 Interest Local 0.41199 No 0.41199 Dividend Local 31.63693 Yes 20 25.30954 Dividend REITs 4.10317 Yes 20 3.28254 Dividend Foreign 3.26396 Yes 20 2.61117 Other income Local 0.41080 No 0.41080 39.82685 32.02604 1. Taxable Foreign Dividends Breakdown by Source: Name Source Tax withheld at SA Withholding Tax (%) Source (%) BRITISH AMERIAN TOBACCO United Kingdom 0 20 MONDI PLC United Kingdom 0 20 NEPI ROCKCASTLE PLC Isle of Man 0 20 2. Distributions by Real Estate Investment Trusts (REITs) are subject to income tax for South African tax residents, and subject to 20% withholding tax for non-residents. Notice is hereby given that the following dates are of importance regarding the distribution for the quarter ended 30 June 2019 by the ETF to holders of Ashburton Top 40 ETF securities: Last day to trade ‘cum' distribution: Tuesday, 23 July 2019 Securities trade ‘ex' distribution: Wednesday, 24 July 2019 Record date: Friday, 26 July 2019 Payment date: Monday, 29 July 2019 Creations or redemptions from the fund will not be allo

NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution Announcement for the Quarter Ended 31 March 2019 - GIVFIN

GIVFIN 201907180055A Distribution Announcement for the Quarter Ended 31 March 2019 - GIVFIN NEWFUNDS S&P GIVI SA FINANCIALS INDEX ETF PORTFOLIO Share code: GIVFIN ISIN: ZAE000205258 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) (‘NewFunds') DISTRIBUTION ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2019 NewFunds has today finalised a distribution to holders of ETF securities (‘investors') recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 as follows: Alpha code Dividend/ Foreign/ Gross Subject to Withholding *Withholding Net Interest Local Distribution tax Tax (%) Distribution (Cents per unit) Yes/ No (Cents per unit) GIVFIN Interest Local 0.51663 No 0.51663 Dividend REITs** 28.98053 Yes 20 23.18442 Dividend 1 12.45786 Yes 20 9.96629 Foreign Dividend Foreign (ITU)*** (S64N) 1.29837 No 1.29837 Dividend Foreign (RPL)*** (S64N)0.03001 No 0.03001 43.2834 34.99572 Further details are listed below: 1 Source of monetary funds subject to foreign dividend tax: United Kingdom 28.47% Netherlands 71.53% ***Source of foreign dividends not subject to dividend tax: United Kingdom 100.00% Notice is hereby given that the following dates are of importance in regard to the distribution by the above ETF for the quarter ended 30 June 2019: Declaration/ Finalisation date Thursday, 18 July 2019 Last day to trade Tuesday, 23 July 2019 Ex distribution Wednesday, 24 July 2019 Record date Friday, 26 July 2019 Payment date Monday, 29 July 2019 The distribution will be paid on Monday, 29 July 2019 to all securities holders recorded on the register on Friday, 26 July 2019. NET FOREIGN DIVIDEND NOT TAXED (S64N ITU RPL Gross Dividend rebate) 1.73582 0.04012 Foreign Dividends Withholding Tax (0.34716) (0.00802) 1.38866 0.03210 Less Porfolio costs (0.09029) (0.00209) Distributable divi

Presidency Policy Unit to be Reconstituted

The Presidency 18 July 2019 The Policy Unit in the Presidency is being reconstituted to act as the nerve centre of policy coordination. President Ramaphosa announced this during the Presidency's 2019 Budget Vote Speech in parliament. He acknowledged that policy coordination has weakened.

South Africa's state owned companies: a complex history that's seldom told

The problems of South Africa's state owned enterprises are in the headlines every day. Yet many have existed for over 80 years. Why were they established in the first place and how have they survived this long? Their histories provide clues for their successes and failures.

UPDATE 2-Global trade worries weigh down FTSE 100; pub chain Ei surges on deal

* FTSE 100 down 0.5%, FTSE 250 down 0.4% * Pub chain Ei Group up after buyout offer * Investors wary as global trade war risks resurface * ASOS sinks after latest profit alert * Tobacco stocks up after Philip Morris results (Adds company news items, updates share moves) By Shashwat Awasthi and Muvija M July 18 (Reuters) - Britain's FTSE 100 followed other major stock markets lower on Thursday as initial batches of corporate earnings jangled nerves over global growth, while losses for London's mid-cap index were capped by a buyout of pub operator Ei Group. All but two of the blue-chip index's sectors ended in the red as it shed 0.5% - its biggest intraday fall in nearly two weeks, while the mid-cap FTSE 250 lost 0.4%. Among major drags on the main index were oil heavyweights Shell and BP, which tracked a slump in crude prices amid expectation that output would rise in the Gulf of Mexico following last week's hurricane, as well as miners .

3 steps towards 'glass boxing' your company with a Biz Press Office

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'I would take the Prosus shares (25%) as well as Naspers (75%) shares'

Naspers - Africa's largest company - will list its e-commerce businesses - now called Prosus - on Amsterdam's Euronext stock exchange in September. How will the listing affect Naspers shareholders? Accepting Prosus shares will make you liable for capital gains tax (CGT). Choosing Naspers shares instead avoids triggering that tax event. What should you do? The Money Show's Bruce Whitfield interviewed Galileo Capital personal finance expert Warren Ingram. It's all quite complicated, but Ingram explains it well. Listen to the interview in the audio below (and scroll down for quotes from it). This is one heck of a move that will immediately unlock significant value. There's just a cashflow implication… For people who really believe in this… don't say the tax is an issue… just sell a couple of shares! If you elect not to do this; it requires some work from you… then you can get additional Naspers shares and there is no tax consequence… I would take the Prosus shares (25%) as well as Naspers (75%) shares… Get the 10 most-read articles of the week from Bruce Whitfield's The Money Show, emailed to you every Friday morning.

'I would take the Prosus shares (25%) as well as Naspers (75%) shares'

Naspers - Africa's largest company - will list its e-commerce businesses - now called Prosus - on Amsterdam's Euronext stock exchange in September. How will the listing affect Naspers shareholders? Accepting Prosus shares will make you liable for capital gains tax (CGT). Choosing Naspers shares instead avoids triggering that tax event.

Black business welcomes repo rate cut

SARB Governor Lesetja Kganyago announced on Thursday that the monetary policy committee (MPC) unanimously decided to reduce the repo rate..

Black business welcomes repo rate cut

The Black Business Council (BBC) has welcomed the decision by the South African Reserve Bank (Sarb) to cut the repurchase rate (repo rate) by 25 basis points. Sarb Governor Lesetja Kganyago announced on Thursday that the monetary policy committee (MPC) unanimously decided to reduce the repo rate by 25 basis points to 6.5 percent per annum, with effect from Friday. The repo rate has remained unchanged since November of 2018 when the MPC introduced a 25-basis point hike, which raised the repo rate to 6.75 percent.

GLOBAL MARKETS-Stocks fall on trade, earnings caution; oil drops

* MSCI world equity falls for third straight day * European shares bounce on ECB inflation revamp report * U.S.-China trade war takes toll on earnings (Updates with open of U.S. markets, changes dateline; previous LONDON) By Chuck Mikolajczak NEW YORK, July 18 (Reuters) - A gauge of global shares declined for a third straight session on Thursday on worries over how the trade war between the United States and China could dent corporate earnings, while oil prices dropped on expectations of rising output. On Wall Street, shares of Netflix plunged 11.40% in the wake of its quarterly results as it missed targets for new subscribers overseas.

South Africa's state owned companies: a complex history that's seldom told

Eskom and Iscor were formed to feed the railway network's need for cheap electricity and steel Shutterstock The problems of South Africa's state owned enterprises are in the headlines every day. Yet many have existed for over 80 years. Why were they established in the first place and how have they survived this long? Their histories provide clues for their successes and failures.

NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVOL

NFEVOL 201907180041A Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVOL NEWFUNDS LOW VOLATILITY EXCHANGE TRADED FUND PORTFOLIO Share code: NFEVOL ISIN: ZAE000252458 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) (‘NewFunds') DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2019 NewFunds has today finalised a distribution to holders of ETF securities (‘investors') recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 as follows: Alpha code Dividend/Interest Foreign/ Local Gross Subject to *Withholding Net Distribution Withholding tax Tax (%) Distribution (Cents per unit) Yes/ No (Cents per unit) NFEVOL Interest Local 0.05315 No 0.05315 Dividend Local 3.22014 Yes 20 2.57611 Dividend Foreign1 0.96638 Yes 20 0.77310 Dividend Foreign (ANH)***S64N 0.19255 No 0.19255 Dividend REITs** 1.17313 Yes 20 0.93850 5.60534 4.53341 Further details are listed below: 1 Source of monetary funds subject to foreign dividend tax: United Kingdom 100.00% Notice is hereby given that the following dates are of importance in regard to the distribution by the above ETF for the quarter ended 30 June 2019: Declaration/ Finalisation date Thursday, 18 July 2019 Last day to trade Tuesday, 23 July 2019 Ex distribution Wednesday, 24 July 2019 Record date Friday, 26 July 2019 Payment date Monday, 29 July 2019 The distribution will be paid on Monday, 29 July 2019 to all securities holders recorded on the register on Friday, 26 July 2019. The net distribution amount (after the deduction of Dividend Withholding Tax ("DWT") at a current rate of 20%) will be re-invested in the ETF on behalf of investors through the purchase of additional Constituent Securities (as defined in the relevant Portfolio Supplement) in the appropriate weigh

Platinum-linked fuel cell business accelerating at rapid rate, say experts

CAPE TOWN (miningweekly.com) - South Africa is continuing to gather top-tier insight into fuel cell technology as it navigates the electric vehicle market's growing links to this country's globally unparalleled platinum group metals (PGMs) industry. Expert after expert at this week's Nedbank CIB's Market Research conference outlined the significant domestic and foreign steps that are being taken to unlock the innovative sector far sooner than expected. The notion of fuel cell technology being a 2040/2050 global strategy is fast giving way to the growing global sale of fuel cell cars, trucks, buses and trains, with ships offering new openings.

CompComSA: The SAB-Diageo SA Transaction conditionally approved

The Commission has recommended that the Competition Tribunal approve with conditions the transaction between South African Breweries (Pty) Ltd (SAB) and Diageo South Africa (Pty) Ltd (Diageo SA) Ltd in which SAB will acquire the rights to a range of products and related assets.   The Diageo SA brands are collectively referred to as the Licensed Brands and comprise the licences to manufacture, market, distribute and sell the following brands in South Africa and other territories:   (i)      Smirnoff ready-to-drink (RTD) products, including all RTDs related to the Smirnoff brand (including Smirnoff Storm, Guarana, Spin, Pine Twist and Berry Twist) (Smirnoff Brands) and, for the avoidance of doubt, excluding the Smirnoff Vodka brand; and (ii)      Guinness products, but excluding Guinness Foreign Extra Stout and Guinness Malta brands (Guinness Brands).   Diageo SA also owns 11 000 coolers that are to be acquired as a result of the proposed transaction.

How Capisol Software's cloud-native platform can put your business's cash flow a ‘click above the rest'

Since its inception, thinking outside the box in order to solve the cash flow challenges faced daily by accountants, FDs and CFOs has been at the very core of Capisol Software's innovative business model. This is according to Christopher de Zeeuw, founding partner and Managing Director of Capisol Software, the leading and trusted local provider of an integrated, cloud-native, document management platform for businesses in a wide range of industries. "In fact, the very existence of Capisol Software stemmed from my own frustration with the shortfalls of traditional Enterprise Resource Planning (ERP) systems," de Zeeuw explains.

Amplats and PGM to Develop Next-gen Battery Technology

By Nicole Rashotte Anglo American Platinum (Amplats) (LSE:AAL,OTC Pink:AGPPF) and Platinum Group Metals (TSX:PTM,NYSEAMERICAN:PLG) have joined forces to launch a joint venture geared at developing next-generation battery technology that uses platinum and palladium. The plan is for Lion Battery Technologies, the newly formed joint venture, to begin a research program together with Florida International University (FIU). Researchers at FIU will look at the potential of using platinum-group metals (PGMs) as a catalyst to raise the discharge capacity and cyclability of lithium-air and lithium-sulfur battery chemistries. Under the agreement with FIU, Lion will retain exclusive rights to any and all intellectual property that is developed. The company will also be responsible for all efforts to commercialize the new technology. Lion is looking at other opportunities that will complement progress made with the university as well. According to Amplats and Platinum Group Metals, lithium-air and lithium-sulfur batteries outperform most top of the line lithium-ion batteries because their energy density is considerably higher. By incorporating PGMs into the design of these batteries, the companies believe they can create a new generation of batteries that is both powerful and lightweight. They see these new batteries benefiting from growing electric vehicle demand, and anticipate that they could stoke demand for PGMs. "This exciting early-stage technology aligns with our broader strategy to bring new technologies to market that will help us secure future demand for the platinum group metals we mine and pave the way to a more sustainable energy future," said Benny Oeyen, Amplats' executive head of market development.

NEWFUNDS COLLECTIVE INVEST SCHEME - Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVAL

NFEVAL 201907180042A Distribution and Re-Investment Announcement for the Quarter Ended 30 June 2019 - NFEVAL NEWFUNDS EQUITY VALUE EXCHANGE TRADED FUND PORTFOLIO Share code: NFEVAL ISIN: ZAE000252466 Portfolios in the NewFunds Collective Investment Scheme in Securities registered as such in terms of the Collective Investment Schemes Control Act, 45 of 2002 and managed by NewFunds (RF) Proprietary Limited (Registration Number 2005/034899/07) (‘NewFunds') DISTRIBUTION AND RE-INVESTMENT ANNOUNCEMENT FOR THE QUARTER ENDED 30 JUNE 2019 NewFunds has today finalised a distribution to holders of ETF securities (‘investors') recorded as such in the register on Friday, 26 July 2019, for the quarter ended 30 June 2019 as follows: Alpha code Dividend/Interest Foreign/ Local Gross Subject to *Withholding Net Distribution Withholding tax Tax (%) Distribution (Cents per unit) Yes/ No (Cents per unit) NFEVAL Interest Local 0.07126 No 0.07126 Dividend Local 3.74595 Yes 20 2.99676 Dividend 1 1.34456 Yes 20 1.07565 Foreign Dividend REITs** 1.02846 Yes 20 0.82277 Dividend Foreign (HMN)***S64N 0.27801 No 0.27801 6.46824 5.24445 Further details are listed below: 1 Source of monetary funds subject to foreign dividend tax: United Kingdom 76.37% Australia 23.63% ***Source of foreign dividends not subject to dividend tax: United Kingdom 100.00% Notice is hereby given that the following dates are of importance in regard to the distribution by the above ETF for the quarter ended 30 June 2019: Declaration/ Finalisation date Thursday, 18 July 2019 Last day to trade Tuesday, 23 July 2019 Ex distribution Wednesday, 24 July 2019 Record date Friday, 26 July 2019 Payment date Monday, 29 July 2019 The distribution will be paid on Monday, 29 July 2019 to all securities holders recorded on the register on Friday, 26 July 2019. The net distribution amount (after the deduction of Dividend Withholding Tax ("DWT") at a current rate of 20%) will be re-invested in the ETF on behalf of investors through the purchase of additional

Liberty unveils B2B platform and campaign for expanding Fabrics business

London's Liberty had big news on Thursday with the launch of a new B2B platform for its important Fabrics division and a new campaign supporting that part of its business. Liberty's fabrics continue to be created under a process with strong bespoke elements While remaining a multi brand luxury department store, London's Liberty has been investing heavily in its own brands for both retail and wholesale in recent years and following the unveiling last month of its new fashion collection, this new support for Fabrics is a further step in that strategy. The company, which also unveiled own-brand nightwear and swimwear earlier this year, said it has launched the online B2B platform at libertyfabrics.com  in order to "meet the demands of international growth." And next month it will also launch the Liberty Fabrics brand on Instagram (@libertyfabrics) with a platform "devoted to the expansive Fabrics community with plans to engage consumer and trade audiences." The Liberty Fabrics business currently has wholesale representatives across 32 countries and the printed materials are frequently used by designer labels for special collections with recent link-ups coming from Loewe and Paul Smith.

TIGER BRANDS LIMITED - Disposal of securities by Janus Henderson Group Plc

TBS 201907180051A Disposal of securities by Janus Henderson Group Plc TIGER BRANDS LIMITED ‘Tiger Brands' or ‘the Company' (Incorporated in the Republic of South Africa) (Registration number 1994/017881/06) Share code: TBS ISIN: ZAE000071080 DISPOSAL OF SECURITIES BY JANUS HENDERSON GROUP PLC In accordance with section 122(3)(b) of the Companies Act, No. 71 of 2008 and section 3.83(b) of the JSE Limited Listings Requirements, shareholders are advised that Tiger Brands has received formal notification that Janus Henderson Group PLC has disposed of a beneficial interest in the ordinary shares of the Company, such that the total interest held by Janus Henderson Group PLC now amounts to 4.81% of the total issued ordinary shares of the Company. Bryanston 18 July 2019 Sponsor: J.P. Morgan Equities South Africa Proprietary Limited Date: 18/07/2019 04:35:00 Produced by the JSE SENS Department.

DWS: DWS and partners celebrate Mandela Day by giving Hennops new lease on life

The Gauteng Provincial Office of the Department of Water and Sanitation (DWS), and various stakeholders today, 18 July 2019, celebrated the birth of former President Nelson Mandela by working to restore the quality of the Hennops River in Centurion to its pristine state. The clean-up, known as the Clear Rivers Campaign, is the brainchild of the Department which aims to involve all like-minded communities, businesses, civil society organisations and individuals to clean-up rivers, streams and wetlands to pay tribute to former President Nelson Mandela. Some of the participants gave their 67 minutes to clean-up the river are the Department of Environmental Affairs, Exxaro, Strategic Water Partners Network, Hennops Blue Horizon, Plastic SA, Fresh NGO, Aquaevida, Ricoffy and the South African Young Water Professionals DWS's Gauteng Provincial, Mr Sibusiso Mthembu, said the importance of the Clear Rivers Campaign is the spread awareness around taking care of rivers by ensuring that the water quality of the rivers is good and that communities that live along the rivers take care of the these resources.

BUSINESS MAVERICK INTERVIEW: Taste Holdings CEO lays out leaner, meaner Starbucks expansion

JSE-listed Taste Holdings, which owns the South African licence for Starbucks and Domino's Pizza, has gone back to the drawing board when it comes to the iconic coffee brand. The bottom line, according to CEO Dylan Pienaar, is to avoid the mistakes of the initial roll-out. Expect smaller stores in the future and franchise openings in Cape Town with an eye to Bloemfontein and Port Elizabeth.

Platinum-linked fuel cell business accelerating at rapid rate, say experts

CAPE TOWN (miningweekly.com) - South Africa is continuing to gather top-tier insight into fuel cell technology as it navigates the electric vehicle market's growing links to this country's globally unparalleled platinum group metals (PGMs) industry. Expert after expert at this week's Nedbank CIB's Market Research conference outlined the significant domestic and foreign steps that are being taken to unlock the innovative sector far sooner than expected. The notion of fuel cell technology being a 2040/2050 global strategy is fast giving way to the growing global sale of fuel cell cars, trucks, buses and trains, with ships offering new openings.

Platinum-linked fuel cell business accelerating at rapid rate, say experts

CAPE TOWN (miningweekly.com) - South Africa is continuing to gather top-tier insight into fuel cell technology as it navigates the electric vehicle market's growing links to this country's globally unparalleled platinum group metals (PGMs) industry. Expert after expert at this week's Nedbank CIB's Market Research conference outlined the significant domestic and foreign steps that are being taken to unlock the innovative sector far sooner than expected. The notion of fuel cell technology being a 2040/2050 global strategy is fast giving way to the growing global sale of fuel cell cars, trucks, buses and trains, with ships offering new openings.

Black business welcomes repo rate cut

SARB Governor Lesetja Kganyago announced on Thursday that the monetary policy committee (MPC) unanimously decided to reduce the repo rate..

South32 reviews future of smelter amid higher power prices

Though no final decision has been made, the review could result in South32's divestment from its manganese alloys smelter or even its closure Diversified miner South32, which was unbundled from BHP in 2015, is reviewing its manganese alloy smelter, which employs 300 people, as analysts warn that SA's soaring power prices are making the sector uncompetitive. "We continue to review options for our manganese alloy smelters as changes in market dynamics have reduced the attractiveness of our exposure," the Australia-based miner said in a report for the three months ended June. The Metalloys smelter in Meyerton is one of the largest in the world and has the capacity to process up to 1-million tons of product a year.

BUSINESS MAVERICK: Small caps pose a significant buying opportunity

Image: AdobeStock The underperformance of the JSE has mid- and small-caps trading at dirt-cheap levels. This offers some hope in an economy and financial market drowning in doom and gloom. While countries like the US and China have seen strong economic growth over the past decade, allowing corporations to thrive, South Africa stands in stark contrast.

BUSINESS MAVERICK INTERVIEW: Taste Holdings CEO lays out leaner, meaner Starbucks expansion

JSE-listed Taste Holdings, which owns the South African licence for Starbucks and Domino's Pizza, has gone back to the drawing board when it comes to the iconic coffee brand. The bottom line, according to CEO Dylan Pienaar, is to avoid the mistakes of the initial roll-out. Expect smaller stores in the future and franchise openings in Cape Town with an eye to Bloemfontein and Port Elizabeth.

BUSINESS MAVERICK - INVESTING: The global hot spots for property investment

London skyline. Photo: Pedro de Cruz/Flickr / Downtown Los Angeles Photo: Eric Norris/Flickr Savvy investors monitor the world's most investible cities, and put their money in the top 30. Two trends are worth watching - Chinese cities could come to dominate the index, and the insatiable demand for data is affecting property values.

Implats - offer to convert outstanding bonds

Implats announces that it invites the holders ("Bondholders") of its USD250 000 000 3.25 per cent. convertible bonds due 2022 (ISIN: XS1623614572) (the "Bonds") to offer to exercise their Conversion Rights as defined in, and in accordance with, the terms and conditions of the Bonds (the "Conditions") in respect of any or all of their Bonds ("Invitation"). Pursuant to the Invitation, Bondholders who offer to convert their Bonds will, if such offer is accepted by Implats, receive by way of consideration a cash incentive payment as described below.

BUSINESS MAVERICK INTERVIEW: Taste Holdings CEO lays out leaner, meaner Starbucks expansion

JSE-listed Taste Holdings, which owns the South African licence for Starbucks and Domino's Pizza, has gone back to the drawing board when it comes to the iconic coffee brand. The bottom line, according to CEO Dylan Pienaar, is to avoid the mistakes of the initial roll-out. Expect smaller stores in the future and franchise openings in Cape Town with an eye to Bloemfontein and Port Elizabeth..

Australia's South32 quarterly coking coal output up 17.4%

July 18 (Reuters) - Diversified miner South32 Ltd reported a 17.4% rise in coking coal output in the fourth quarter on Thursday, helped by strong production at its Illawarra project. Production of the steel-making ingredient, known as metallurgical or coking coal, came in at 1.3 million tonnes in the June quarter, compared with 1.1 million tonnes a year earlier. (https://reut.rs/2xPuM64) The output beat a UBS estimate of 1.2 million tonnes. (Reporting by Devika Syamnath in Bengaluru; Editing by Anil D'Silva) 2019-07-18 00.

Implats plans to settle pricey bonds

The platinum producer wants to use the tailwind of higher rand PGM prices to reduce debt and optimise its balance sheet. Impala Platinum plans to use the opportunity provided by a rise in the rand price it fetches for its platinum group metals (PGMs) to restructure its debt, optimise its balance sheet and reduce its annual interest payments. The platinum producer has invited holders of its $250 million convertible bonds to exercise their conversion rights now instead of in 2022 when the bonds mature.

The pros and cons of a business bank account

If you are self employed and working as a freelancer in the services industry, you may be debating whether you should work as a sole proprietor or register as a business. There are pros and cons for each, and the answer is not clear cut. I ran my business as a sole proprietor for 12 years.

BHP rebounds after Tropical Cyclone Veronica

The world's biggest mining company reported a strong fourth quarter after a cyclone disrupted its Australian iron ore operations in March. BHP Group has reported a strong end to its 2019 financial year, with higher fourth-quarter production making up for production lost earlier in the year due to grade and natural field declines, weather-related interruptions and several unplanned outages. In an operational review, BHP, formerly known as BHP Billiton, said copper equivalent production increased by 11% in the three months to end-June, leaving full-year production just 2% lower.

BUSINESS MAVERICK: Small caps pose a significant buying opportunity

Image: AdobeStock The underperformance of the JSE has mid- and small-caps trading at dirt-cheap levels. This offers some hope in an economy and financial market drowning in doom and gloom. While countries like the US and China have seen strong economic growth over the past decade, allowing corporations to thrive, South Africa stands in stark contrast.

"Meet the whistleblower who could cost Unilever hundreds of millions of Rand" - BizNews

And four other of the top stories on Alec Hogg's business news website, 17 July 2019 JOHANNESBURG - The five best read stories on Alec Hogg's BizNews.com, Wednesday, 17 July 2019: 1. Meet the whistleblower who could cost Unilever hundreds of millions of Rand 2. EOH hit by state contract fraud; uncovers R1.2bn in suspicious transactions 3.

Australia's South32 quarterly coking coal output up 17.4%

July 18 (Reuters) - Diversified miner South32 Ltd reported a 17.4% rise in coking coal output in the fourth quarter on Thursday, helped by strong production at its Illawarra project. Production of the steel-making ingredient, known as metallurgical or coking coal, came in at 1.3 million tonnes in the June quarter, compared with 1.1 million tonnes a year earlier. ( reut.rs/2xPuM64 ) The output beat a UBS estimate of 1.2 million tonnes.

OPINIONISTA: Destruction of value lies at the feet of the non-executives

CEOs should bear the major responsibility for underperformance. But does that mean the board should get off with a slap on the wrist? It's right that a CEO should be held accountable for a company's performance. And the departure of CEOs from companies that have posted poor results has had the business community nodding approval.

UPDATE 1-Australia's South32 posts 69% rise in annual coking coal production

* Starts review of options for manganese alloy smelters * Receives bids for South Africa Energy Coal assets in June qtr (Adds details of manganese smelter review, S. Africa coal bids) July 18 (Reuters) - Australia's South32 Ltd on Thursday reported a 69% jump in full-year coking coal production, beating analyst estimates, as the diversified miner ramped up production at its Illawarra project. The company, spun off from mining giant BHP Group in 2015, also said it had received bids for its South Africa Energy Coal assets in the June quarter and was currently in talks with interested parties.

Amplats finalises transfer of BRPM to RBPlat

The Department of Mineral Resources has granted its unconditional consent for the transfer of the mining rights to RBPlat. Anglo American Platinum has been given final approval to transfer its 33% stake in the Bafokeng Rasimone Platinum Mine (BRPM) joint venture to Royal Bafokeng Platinum (RBPlat), a year after the deal was announced. The two platinum producers said yesterday that the transfer had been granted Section 11 approval by the Department of Mineral Resources.

Business Maverick: A R1.2bn pot of toxic soup at EOH

Eight people. That's all. Eight people out of EOH's staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017.

PARLIAMENT: Budget debate homes in on the EFF's behaviour, a shortage of cash and much unfinished business

Parliament has a long to-do list, and not very much money as its Budget came in some R340-million short of the requested R3- billion. That's the upshot of Tuesday's meandering Budget vote debate, which at its best moments had both sides of the House pledge the national legislature would fulfil its constitutional responsibility of oversight and holding accountable the executive and organs of state. --.

Unique sea-side MTB and trail running experience at Scottburgh this weekend

The final touches have been made for the 2019 Sappi Scottburgh MTB and Trail Weekend. With its fine winter weather, Scottburgh and the KZN coastline is an ideal venue for outdoor events at this time of the year, and runners and riders have the opportunity to take in the mid-South Coast hospitality at the 2019 event this weekend. The addition of the two Funky Pants trail runs to the weekend last year has increased the appeal of the overall event and created a full weekend of sporting attractions and Saturday's runs will be popular with runners of all abilities.

Business Maverick: Investors Gorge on African Bonds, But They're Dodging Its Stocks

The AFMI Bloomberg African Bond Index, which groups the local-currency debt of eight nations including South Africa, Nigeria, Egypt and Ghana, has gained 6.3% in dollar terms since the start of May, around the time a dovish tilt by major central banks caused a surge in the amount of negative-yielding securities. It's bettered the 4% advance of developing-nation local bonds overall. Carry traders have been particularly attracted to Africa.

PRESS DIGEST- British Business - July 18

July 18 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - UK's Chartered Institute of Credit Management has suspended 18 large businesses including British American Tobacco Plc and Prudential Plc from the Prompt Payment Code for failing to pay supplier invoices within 60 days.

IAN MANN REVIEWS: What nobody will tell you about starting a business

The Messy Middle: Finding Your Way Through the Hardest and Most Crucial Part of Any Bold Venture, by Scott Belsky This is the story of author Belsky's company: Behance. "We bootstrapped the business for five years before one of our products, the Behance Network, eventually started to gain traction. This allowed us to raise some funding from a top-tier venture capital firm, which gave us the chance to build a dream team that turned our product into a ubiquitous global creative platform.

Ferial Haffajee: Sticking it to Peter Moyo won't make the questions go away

In the staid business circles of corporate South Africa, the public battle between ousted Old Mutual CEO Peter Moyo and chairperson Trevor Manuel is a spectacle. Old Mutual - listed, big and rich - is swinging at Moyo with all its might and all its lawyers. The case against him is unprecedented in its level of insult - it has presented him as cocky and self-important.

RON DERBY: Reliance on markets helps and hinders

SA's saving grace is also its achilles heel. Our exposure to jittery foreign investment inflows and outflows has disciplined our politics and, at the same time, left the country vulnerable to the ebbs and flows of global markets. When the tide went out against emerging-market economies in mid-2013, one of the world's leading banks, Morgan Stanley, tagged a new grouping of nations the "Fragile Five", and we were certainly part of it.

African Markets - Factors to watch on July 18

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: *World Bank launches its Tanzania economic update GLOBAL MARKETS Asian shares edged lower on Thursday as Wall Street stocks dropped on early signs that the U.S.-China trade war could hurt corporate earnings, which helped underpin solid demand for safe-haven U.S. Treasuries. MKTS/GLOB WORLD OIL PRICES Oil prices steadied on Thursday after falling in the previous session when official data showed U.S.

South32 delivers strong production finish as nears end of $1bn capital return programme

SOUTH32 delivered higher-than-revised manganese production from its South African assets, completing a strong finish to its 2019 financial year with similar performances at its aluminium, metallurgical and silver and lead operations. The group also said it was edging towards finalising the sale of its South African thermal coal mines - with an update due by the calendar year-end - and has set about "portfolio adjustment" of its upstream manganese facilities, also in South Africa. Graham Kerr, South32 CEO, described the quarter as "a strong finish" for a year in which the group all but completed its $1bn capital return programme.

Steinhoff: PIC got its seat on the board, but at terrible cost

It did smack a little of ex-post rationalisation and it did seem like an enormous fee for access to the board. But former PIC CEO Dan Matjila was on the right track when he told the Mpati commission of inquiry about the importance of having director representation on a board. This, Matjila told the commission, was the main motivation behind the decision to invest an additional eye-watering R9.35bn into Steinhoff via a loan to a vehicle set up by former trade unionist Jayendra Naidoo.

Transforming workspaces to enable business growth

- 2 Facebook Twitter Google+ Pinterest WhatsApp Jonathan Turner | Managing Director | Advisory & Transaction Services Africa | CBRE Excellerate | mail me | Around the world, workspace requirements are changing dramatically. Fuelled by an increasingly tech-driven business ecosystem, office spaces have to evolve in order to meet new workplace demands. This evolution is having a profound impact on occupiers and landlords - who have to adjust their portfolio strategies in a myriad of ways.

Kenya: Comesa Source 21 Business Summit Kicks Off in Nairobi

[Capital FM] The Source21 Common Market for Eastern and Southern Africa (COMESA) International Trade Fair and High - Level Business Summit has kicked off at Kenyatta International Convention Centre (KICC)..

BRIEF-Anglo American Platinum Qtrly PGM Production Up By 1% To 1.1 Mln Ounces

July 18 (Reuters) - Anglo American (LON:AAL) Platinum Ltd AMSJ.J : * ANGLO AMERICAN PLATINUM - QTRLY TOTAL PGM PRODUCTION INCREASED BY 1% TO 1,118,700 OUNCES* ANGLO AMERICAN PLATINUM - QTRLY PGM SALES VOLUMES OF 1,275,100 OUNCES WERE IN LINE WITH REFINED PRODUCTION, BUT DOWN BY 8% YEAR-ON-YEAR* ANGLO AMERICAN PLATINUM LTD - 2019 PRODUCTION GUIDANCE (METAL IN CONCENTRATE) REMAINS UNCHANGED AT 4.2 - 4.5 MILLION PGM OUNCES* ANGLO AMERICAN PLATINUM - QTRLY OWN MANAGED MINES PGM PRODUCTION DECREASED BY 4% TO 633,600 OUNCES DUE TO LOWER PRODUCTION FROM MOGALAKWENA, MOTOTOLO.

BRIEF-Liberty Holdings Sees HY HEPS Between 704,4 Cents And 760,7 Cents

July 18 (Reuters) - Liberty Holdings Ltd LBHJ.J : * JSE: LBH - TRADING STATEMENT IN RESPECT OF THE SIX MONTHS ENDED 30 JUNE 2019 * LIBERTY HOLDINGS LTD - LIBERTY HOLDINGS IS CURRENTLY IN PROCESS OF COMPILING ITS RESULTS FOR SIX MONTHS ENDED 30 JUNE 2019 * LIBERTY HOLDINGS - SEES HY NORMALISED HEADLINE EARNINGS TO BE BETWEEN 698,9 CENTS AND 747,1 CENTS PER ORDINARY SHARE* LIBERTY HOLDINGS - SEES HY HEADLINE EARNINGS TO BE BETWEEN 704,4 CENTS AND 760,7 CENTS PER ORDINARY SHARE* LIBERTY HOLDINGS - SEES HY BASIC EARNINGS PER ORDINARY SHARE TO BE BETWEEN 664,9 CENTS AND 721,3 CENTS PER ORDINARY SHARE.

Signa Retail creates business hub in Zurich, appoints head of new business

KaDeWe owner Signa Retail has appointed Carmen Spielmann as head of new business, tasking her with setting up a business hub at its head office in Zurich. Carmen Spielmann has joined Signa Retail as head of new business - Signa In her new role, she will also be responsible for identifying and developing new future-oriented business models, Signa said on Tuesday. Spielmann is described as an expert with a "digital DNA".

Stock Picks — Naspers and Ferrari

Wayne McCurrie from FNB Wealth & Investments chose Naspers as his stock pick of the day and David Shapiro from Sasfin Securities chose Ferrari.

Spark Foundry retains Mattel's U.S. media business after review

Mattel has retained Publicis Media's Spark Foundry as its media agency of record in the U.S. following a global review that began in the first quarter of 2019, people close to the business told Ad Age. Those people said Mattel also sent its media planning and buying duties in Canada to Spark Foundry, which competed against Interpublic's UM in the global pitch. Carat was the incumbent in several of Mattel's markets including Canada, but it is unclear if the Dentsu Aegis Network media agency competed to defend; it did not return a request for comment.

Business News - 17 July 2019

Zondo questions Zuma on Transnet appointments, Retail sales growth could stave off a technical recession and Ford plans to add jobs to the South African economy..

Yolanda Cuba joins MTN Group

Former Vodacom Group Chief Officer of Strategy and M&A and Vodacom Ghana CEO, Yolanda Cuba, has been appointed by MTN Group as its Group Chief Digital and Fintech Officer. According to MTN, Cuba will lead the telecommunications companies' strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator. As part of her appointment, Cuba will join the MTN Group Executive Committee and will report directly to the Group CEO Rob Shuter.

Send in the troops: Congo raises the stakes on illegal mining

INTERNATIONAL A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later the soldiers moved in. They didnt say anything to anyone said Fabien Ilunga an official in Kafwaya which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources.

Need a loan to grow your small business? There's a pot of money waiting

We provide loans [to small businesses]. We do not invest in them… Our average loan size is about R4 million… — Kumaran Padayachee, CEO - Spartan SME Finance We don't fund ideas. We fund a business that is already doing something viable, and they need capital to grow… There is more money than there are viable deals… People are not presenting themselves well… — Kumaran Padayachee, CEO - Spartan SME Finance Spartan SME Finance provides finance for small businesses.

Anglo American Zimele a bold approach to community business development

Anglo American's Zimele head discusses her career and how the company is reaching its goals. In this week's executive or business leader special, Nompu Siziba speaks with Larisha Naidoo, who is heading up Anglo's Zimele division. The division assists the mining company in empowering community members in the areas it has operations in.

Stock markets weaker, pound under pressure

Global stock markets turned weaker on Wednesday after recent record gains in the US while growing concerns about a no-deal Brexit kept the pound under pressure. By the close in Europe, London's FTSE 100 index was down 0.55%, Paris shed 0.76% and Frankfurt dropped 0.72%. All three had been little changed earlier in the day.   The pound dropped to $1.2382, its lowest since April 2017, but recovered some lost ground by late afternoon in London to trade at $1.2433.

GLOBAL MARKETS-Trade concerns dent stocks; U.S. Treasury yields fall

(Corrects to show U.S. Treasury yields fell, not rose, in headline and first paragraph) * U.S. housing starts sluggish for second straight month * World shares on track for second straight decline * S&P 500 dips back below 3,000 mark By Chuck Mikolajczak NEW YORK, July 17 (Reuters) - A gauge of global stocks declined for a second straight session and U.S.

Hyprop aims to sell older assets but retain crown jewels

Hyprop Investments, the company that is considering hiving off its older assets as it tries to turn its operations around in a difficult environment, plans to keep its crown jewels. Hyprop has long been considered one of the JSE's real estate darlings, having built up a portfolio of some of SA's best blue-chip malls — including The Mall of Rosebank, Clearwater, Cape Gate, Somerset Mall and Canal Walk — since it listed in 1988. But the share price of the company, which has a market capitalisation of R18.55bn, has plunged 46.95% on a three-year-basis as it has had to operate in a weak local environment where it has given some national tenants rental reductions while weak consumer spending growth persists. It also participated in the bailout of Edcon by taking a stake in the retailer and decreasing its rent.

Dan Matjila will continue giving testimony next week.

Former Public Investment Corporation (PIC) CEO, Dr Dan Matjila has denied receiving R5 million cash from VBS in return for facilitating funding for the now defunct mutual bank. The claim was made in the Great Bank Heist report compiled on the looting that led to the collapse of the bank. Advocate Terry Motau was the main author of the investigation, commissioned by the Prudential Authority of the Reserve Bank .

MTN taps Vodacom for new digital, fintech chief

MTN Group has hired another top executive from Vodacom Group, saying on Wednesday that is has appointed Yolanda Cuba as its new chief digital and fintech officer. Cuba, who was most recently chief officer for strategy and mergers & acquisitions at Vodacom, will lead MTN's expansion of its financial services and digital solutions efforts and its "transformation into a digital operator". She will report to group CEO Rob Shuter.

Yolanda Cuba joins MTN Group

Former Vodacom Group Chief Officer of Strategy and M&A and Vodacom Ghana CEO, Yolanda Cuba, has been appointed by MTN Group as its Group Chief Digital and Fintech Officer. According to MTN, Cuba will lead the telecommunications companies' strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator. As part of her appointment, Cuba will join the MTN Group Executive Committee and will report directly to the Group CEO Rob Shuter.

Yolanda Cuba joins MTN as Group Chief Digital and Fintech Officer

PORT ELIZABETH, July 17 (ANA) - MTN Group on Wednesday has announced the appointment of Yolanda Cuba as group chief digital and fintech officer, joining its group executive committee and reporting to the group CEO Rob Shuter.  ANA NEWS WIRE Disclaimer: The African News Agency (ANA) is a news wire service and therefore subscribes to the highest standards of journalism as it relates to accuracy, fairness and impartiality. ANA strives to provide accurate, well sourced and reliable information across Text, Images and Video. Where errors do appear, ANA will seek to correct these timeously and transparently.

Need a loan to grow your small business? There's a pot of money waiting

We provide loans [to small businesses]. We do not invest in them… Our average loan size is about R4 million… — Kumaran Padayachee, CEO - Spartan SME Finance We don't fund ideas. We fund a business that is already doing something viable, and they need capital to grow… There is more money than there are viable deals… People are not presenting themselves well… — Kumaran Padayachee, CEO - Spartan SME Finance Spartan SME Finance provides finance for small businesses.

Ferial Haffajee: 5 lessons for business from Zuma's Zondo testimony

Former President Jacob Zuma's testimony before the Zondo commission of inquiry into state capture offers many lessons for business. Here are the top 5. Politically exposed person laws begin to bite While it was previously fashionable for business to court political contacts by having connected people in senior positions or on boards, this does not always work.

Growthpoint shines in financial reporting and communication

Growthpoint - IAS Award - Lungile Malinga and Francois Schindehütte Growthpoint Properties won the Best Reporting and Communication Awards - Property Sector at the Analysts Society of South Africa (IAS) Excellence in Financial Reporting and Communications Awards 2018. Each year, the IAS honours companies that demonstrate excellence in transparency, financial disclosure and communication with the investment community and its members. Winners of the IAS awards winners for the 2018 financial year were announced last month at the JSE in Sandton Central.

Libertas Appoints Lizelle Gerber As Nederburg's New Cellar-master

Seasoned, award-winning winemaker Lizelle Gerber is joining Nederburg Wines in Paarl as its new cellar-master, from 1 August. Nederburg, one of South Africa's most pedigreed names in wine, is part of the newly-formed Libertas Vineyards and Estates, Distell's independent premium and fine wine company. "We are proud and excited to welcome Lizelle to the team," says Niël Groenewald, managing director of Nederburg.

MTN taps Vodacom for new digital, fintech chief

MTN Group has hired another top executive from Vodacom Group, saying on Wednesday that is has appointed Yolanda Cuba as its new chief digital and fintech officer. Cuba, who was most recently chief officer for strategy and mergers & acquisitions at Vodacom, will lead MTN's expansion of its financial services and digital solutions efforts and its "transformation into a digital operator". She will report to group CEO Rob Shuter.

Apex Announces 2019 Award Winners

in Johannesburg, where the Association for Communication and Advertising (ACA) hosted the NeXt Level of Thinking Masterclass in the morning followed by the APEX Awards Ceremony in the evening. Marketing moguls and brand barons gathered at The Venue at The Houghton to attend a historical day as the ACA announced that this, the 24th edition of the APEX awards, would be the last. To great fanfare, Mathe Okaba, CEO of the ACA, announced that with effect from 2020 the ACA would be hosting the very first African edition of the Effie Awards - Effie South Africa.

UPDATE 1-South Africa's rand softer ahead of rate decision, stocks slide

(Adds latest prices, analyst quote) JOHANNESBURG, July 17 - South Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. At 1500 GMT the rand was 0.14% weaker at 13.9800 per dollar, inching closer to the 14.00 mark that has in recent times determined the momentum of the currency either direction. South Africa's central bank meets on Thursday.

JSE weaker ahead of SARB rate decision

The local bourse retreated on Wednesday mainly on the back of broad-based weakness across most major global indices. Although modest, most of the major Asian indices recorded declines on Wednesday. In Japan the Nikkei dropped 0.31%, in Hong Kong the Hang Seng closed 0.09% lower while in China the Shanghai Composite Index lost 0.06%.

String of new initiatives announced by the minister of small business development CAN grow the ...

This content is not written by Creamer Media, but is a supplied media statement. A string of new initiatives, as announced by the Minister of Small Business Development, Khumbudzo Ntshavheni, during her budget speech this week, will go a long way in growing the SMMEs sector in the country. Initiatives, such as, blended finance (mix of grants and loans) to be introduced and offered by the Small Enterprise Finance Agency (SEFA), will go a long way in assisting Small, Medium and Micro-sized Enterprises (SMMEs) with own contribution, otherwise known as skin in the game, as this constitutes one of the biggest impediment for black entrepreneurs.

Business Maverick: Rescue, Rehabilitate, Release - the story of a rhino orphaned by poaching

Hoedspruit Endangered Species Centre (HESC) has for the first time, successfully released two rhino orphaned from poaching. As the gates opened, and the tentative pair crossed the threshold into the reserve, the magnitude of the moment became apparent. Tears and laughter were shared as Gertjie and Matimba were given a second chance at life, and procreation.

PE Business News: No military will be deployed in EC as yet to fight gangsterism

PE : No military will be deployed in EC as yet to fight gangsterism : Promote your business on BuyPE and MyPR. No military will be deployed in EC as yet to fight gangsterism: Crime affects our daily lives, development and even business, "Mabuyane said. Studio Tel (Port Elizabeth): 0860 940 940 (VAS rates apply) Studio Tel (East London): 0860 950 950 (VAS rates apply) … Source: "Port Elizabeth" business […] - MyPE News New Mantis website launched : Port Elizbeth, South Africa: The Mantis group has launched its new website; and for the first time, client's book and earn loyalty points at their hotels and eco-escapes on a single platform.

TRAINSPOTTER: Jacob Gedleyihlekisa Zuma, Suicide-Bomber-in-Chief

‘How come I am a participant in this huge enterprise known as Reality?' wondered the Danish philosopher Soren Kierkegaard, back in 1843. ‘Why should I be a participant? Is there no choice in the matter? And if there is no choice, then where is the manager — there's something I want to say to him. Is there no manager? Then to whom shall I address my complaint?' If Kierkegaard were a denizen of the fraying South African Reality, circa 2019, he'd do well to address his complaints to Jacob Gedleyihlekisa Zuma.

Cloud makes business magic

A cloud summit conference last week illustrated the dramatic way the cloud can transform an organisation's capacity. What do the movies have in common with banks? Aside from the billions of rands and dollars that flow through both industries, they seem worlds apart. Yet, in the world of cloud computing, they are suddenly close neighbours.

Business Maverick: A R1.2bn pot of toxic soup at EOH

Eight people. That's all. Eight people out of EOH's staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017.

PIC increased its exposure in Steinhoff to ‘influence better governance'

Why did the state asset manager not pull out instead? The Public Investment Corporation (PIC) had concerns about governance at , which is why the state asset manager increased its investment in the entity that imploded in December 2017. This was revealed on Tuesday at the Mpati commission of inquiry into allegations of impropriety at the PIC. In 2016 the PIC extended a R9.35 billion loan to a special purpose vehicle Lancaster 101 to buy a 2.75% empowerment stake in the then mighty global retailer. The deal was brought to the PIC by former unionist Jayendra Naidoo whose consortium owns 25% of Lancaster, while the PIC holds 50% and the remaining 25% is meant to be allocated to a broad-based black economic empowerment (B-BBEE) group.

NEPI progresses with Romanian office sale

AFI Europe has exclusivity for eight weeks to conduct a due diligence exercise on the €309 million office portfolio. NEPI Rockcastle may have found a buyer for its Romanian office properties as it focuses on its growing portfolio of shopping centres in Central and Eastern Europe. The property investor says it's signed a non-binding letter of intent with AFI Europe for the four office buildings in the portfolio.

BUSINESS MAVERICK: Economic (in)flexibility: There's just no fiscal space

Most countries have one thing in common: Heavily indebted governments. So it would be unrealistic to expect fiscal policy to come to the rescue in the event of a global recession - unless they build up a buffer during the years ahead by engaging in fiscal consolidation. --.

Business Maverick: Lawyer Who Took on Brexit May Sue Over Suspending Parliament

A case would add to the legal pressure over suspending Parliament after anti-Brexit campaigner Gina Miller said she's already begun a challenge on the issue. Miller has written to Johnson warning him that proroguing or suspending Parliament to bypass the will of lawmakers would be illegal, she told Bloomberg TV on Tuesday. Maugham's case, if he brings it, would be separate from hers.

EOH lifts lid on R1bn scandal; Tongaat seeks debt lifeline; Amplats dazzles; GEPF looks offshore; Thiel targets Google

Johannesburg listed ICT group EOH has been rocked by allegations of bribery, corruption and theft, with its CEO Stephen van Coller saying on Tuesday that an internal probe has revealed that "about eight" people had been involved in a "suspicious transaction" totalling R1.2bn between 2014 and 2017. The once-great Tongaat Hulett is fighting for survival. The KwaZulu-Natal corporate giant wants an interest repayment holiday on R11bn worth of debt, and is cutting costs and restructuring.

Is a downgrade really priced in?

Keeping an eye on South Africa's bond markets. It has been more than two years since Fitch Ratings downgraded South Africa's foreign and local currency bonds to sub-investment grade in April 2017. Just days earlier, S&P Global had done the same for South Africa's foreign currency credit rating. The third of the big agencies, Moody's, also downgraded the country's rating by one notch around the same time, although it kept it above investment grade.

Business Maverick: Reserve Bank is likely to cut rates, but how low can it go?

The consensus among economists polled by Reuters is for a 25-basis point rate cut to 6.5% when the SARB's Monetary Policy Committee makes its announcement on Thursday 18 July. (Photo: Adobe Stock) The SA Reserve Bank is widely expected to cut rates this week, with most economists expecting a 25 basis point cut. With a stagnant economy, there should be a lot more room for monetary loosening, but there probably isn't, given the economy's structural challenges.

GLOBAL MARKETS-Asia shares slip, dollar gains as sterling slides

* Asian stock markets : tmsnrt.rs/2zpUAr4 * Nikkei off 0.3% early, Asia markets modestly lower * U.S. retail sales strong, but market still set on Fed cut * Dollar gains as sterling stricken by hard-Brexit fears * Oil prices slide on supply data, mixed messages on Iran By Wayne Cole SYDNEY, July 17 (Reuters) - Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street, while the dollar got a lift from robust U.S. retail data and a Brexit-driven dive in the pound.

ABSA GROUP RECOGNISED AS ‘AFRICA'S BEST TRANSFORMATION' AT EUROMONEY AWARDS FOR EXCELLENCE 2019

Absa Group has been named ‘Africa's Best Transformation' at the Euromoney Awards for Excellence 2019 held in London last night. The award recognises a bank in each region that has made the most positive changes over the last 12 months and fundamentally transformed its business model or offering to clients in the period under review. Absa CEO René van Wyk said of the win: "Today marks exactly a year since we launched our new brand to the market. This award recognizes the work we have done and continue to do, to completely re-engineer the business, making it more agile and digital in order to respond to dynamic customer needs.

Dan Matjila reveals Lancaster loan gave PIC a seat on Steinhoff board

Backing for former union leader Jayendra Naidoo's firm cost asset manager R12bn, says Matjila The Public Investment Corporation's (PIC's) loan to former trade union leader and businessman Jayendra Naidoo to buy shares in Steinhoff, which ultimately led to the asset manager losing nearly R12bn, was conceived to influence governance at the global furniture manufacturer and retailer. This is according to the PIC's former CEO, Dan Matjila. Steinhoff's shares crashed in 2017 after the retailer revealed a multibillion-rand account fraud that wiped out more than R200bn of shareholder equity and left it scrambling for working capital.

We were all ‘duped' by Steinhoff, says former PIC CEO Dan Matjila

The state asset manager increased its investment in the entity that imploded in December 2017, rather than pulling out. The Public Investment Corporation (PIC) had concerns about governance at Steinhoff International, which is why the state asset manager increased its investment in the entity that imploded in December 2017. This was revealed on Tuesday at the Mpati commission of inquiry into allegations of impropriety at the PIC.

Identity and access management has business on high alert

Identity and access management (IAM) is now a must in commerce and the need to protect digital assets (most notably data) is driving the development of solutions and widespread adoption, irrespective of the size of the business. Paul Chari, principal consultant EDC Solutions at dormakaba South Africa, believes the market has grown in maturity in terms of its understanding of the dynamics of IAM and the solutions that characterise this space. He maintains that the level of information about IAM and the latest trends, international best practices is now available, and that empowers service providers.

Small quake hits Mexico City, no damage reported

MEXICO CITY (Reuters) - A small earthquake struck central Mexico City on Tuesday night, jolting office towers and apartment buildings in the sprawling metropolis, but there were no immediate reports of injuries or damage. A quake of magnitude 2.9 was registered in the central Mexico City neighbourhood of Alvaro Obregon at 10:59 p.m., the National Seismological Service said on social network Twitter. David Leon, Mexico's head of emergency services, said there were no immediate reports of damage.

Five things making headlines in South Africa today

Zuma ready for day two, EOH execs resign, GEPF mulling offshore investments, axed Peter Moyo to appear in court. Moneyweb / 16 July 2019 10:12 No comments so far AMPLATS R805.951.24%7/16/2019, 5:16:45 PM ANGLO R380.850.12%7/16/2019, 5:16:45 PM EOH R20.70-0.77%7/16/2019, 5:16:45 PM OMUTUAL R22.001.57%7/16/2019, 5:16:45 PM Two CEOs of EOH subsidiaries and a non-executive director resign. Picture: Moneyweb Two CEOs of EOH subsidiaries and a non-executive director resign. Picture: Moneyweb Here's what caught our attention on Tuesday: 1.

When is Moody's going to put us out of our misery and downgrade us?

It has been more than two years since Fitch Ratings downgraded South Africa's foreign and local currency bonds to sub-investment grade in April 2017. Just days earlier, S&P Global had done the same for South Africa's foreign currency credit rating. The third of the big agencies, Moody's, also downgraded the country's rating by one notch around the same time, although it kept it above investment grade.

Libertas appoints new cellar-master at Nederburg

Seasoned, award-winning winemaker Lizelle Gerber is joining Nederburg Wines in Paarl as its new cellar-master, from 1 August.   Nederburg, one of South Africa's most pedigreed names in wine, is part of the newly-formed Libertas Vineyards and Estates, Distell's independent premium and fine wine company. "We are proud and excited to welcome Lizelle to the team," says Niël Groenewald, managing director of Nederburg.

Senior Business Intelligence Developer wanted: APPLY HERE

Vacancy Details Employer: Unique Personnel •Candidate must have 5 years solid experience in the Business Intelligence environment. •Candidate must show an understanding of business needs through collaboration with other stakeholders to deliver on business requirements. •Candidate must have experience working with reporting tools such as QlikView/Sense.

BHP GROUP PLC - Operational Review for the Year Ended 30 June 2019

Code(s): BHP PDF: Wrap Text Operational Review for the Year Ended 30 June 2019 BHP Group Plc Registration number 3196209 Registered in England and Wales Share code: BHP ISIN: GB00BH0P3Z91 NEWS RELEASE LOGO Release Time IMMEDIATE Date 17 July 2019 Release Number 14/19 BHP OPERATIONAL REVIEW FOR THE YEAR ENDED 30 JUNE 2019 . Exceeded full year production guidance for petroleum and met revised guidance for copper and iron ore. Metallurgical coal and energy coal production marginally below guidance predominantly as a result of lower than expected wash plant yields and adverse weather impacts during the June 2019 quarter.

We were all ‘duped' by Steinhoff, says former PIC CEO Dan Matjila

The state asset manager increased its investment in the entity that imploded in December 2017, rather than pulling out. The Public Investment Corporation (PIC) had concerns about governance at Steinhoff International, which is why the state asset manager increased its investment in the entity that imploded in December 2017. This was revealed on Tuesday at the Mpati commission of inquiry into allegations of impropriety at the PIC.

Swatch shares jump as it points to uptick in main markets

Swatch Group shares surged 5% after mid-year results on Wednesday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales. The maker of Longines, Omega and Tissot watches said it expected to reverse a first-half sales fall to post positive sales growth for the year. The news was a tonic for shareholders who have been gloomy about the prospects for the watchmaker amid concern the U.S.-China trade war could hurt demand for luxury products.

#PICInquiry: Where were Steinhoff auditors?

Former Public Investment Corporation (PIC) chief executive Dan Matjila yesterday questioned the role played by Steinhoff International's auditors..

Dan Matjila on Steinhoff investment: "It was all for BEE"

Former Chief Executive of the Public Investment Corporation (PIC), Dan Matjila had quite a lot of explaining to do regarding the asset manager's shoddy investment into the derailed Steinhoff. The hype around the epic failure of the giant furniture retailer may have died down but the commission of inquiry into allegations of impropriety at the PIC sought to understand the thinking behind throwing all those billions into a sinking ship. Why PIC invested billions into Steinhoff Granted, the PIC's investment in Steinhoff was secured in August 2016, a little over a year before it was discovered that the furniture manufacturer's accounting books were cooked.

Sports as a business and a brand in Africa

At the Africa Cup of Nations (AFCON) in Egypt, the visual imagery of almost empty stadiums is a powerful narrative. But not the kind that African sports, African football, or corporate sponsors deserve. The empty seat syndrome suggests that football fans are voting with their feet, or better still with their backsides.

Cape Wine Masters Embark on New Era

Top image: De Bruyn Steenkamp, chairman of the Institute of Cape Wine Masters. The Institute of Cape Wine Masters is set to extend its association with the South African wine industry through greater involvement with industry bodies, producers and the hospitality industry. According to De Bruyn Steenkamp, the new chairperson of the Institute of Cape Wine Masters, the 102 individuals that today bear the title of Cape Wine Master represent some of the keenest wine industry minds spread over various fields of expertise that are in a position to add value and to contribute to the South African wine industry.

GLOBAL MARKETS-Trade war, Brexit stoke debt and dollar, hit stocks and sterling

* U.S. retail sales strong, but market still set on Fed cut * Dollar gains, sterling stricken by hard-Brexit fears * World shares just off 10-day highs, Europe flat (Updates, adds charts) By Sujata Rao LONDON, July 17 (Reuters) - Resurgent trade tensions, concern over the outlook for corporate America and the growing risk of a chaotic Brexit in the United Kingdom curtailed appetite for equities on Wednesday and stoked demand for "safe" government bonds. U.S.

DR Congo raises the stakes on illegal mining

A Congolese army officer arrived in Kafwaya village in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya, home to thousands of miners eking out a living illegally exploiting nearby mineral resources.

Amplats completes disposal of 33% stake in Bafokeng Rasimone mine

JOHANNESBURG  - Anglo American Platinum (Amplats) said on Wednesday it had completed the disposal of its 33 percent holding in the  Bafokeng Rasimone Platinum Mine (BRPM) joint-venture after the department of mineral resources granted approval. The disposal is the culmination of a deal entered into in December by Amplats' wholly-owned subsidiary, Rustenburg Platinum Mines (RPM) and Royal Bafokeng Platinum's Royal Bafokeng Resources. The agreement stipulated that Royal Bafokeng Resources would, in a two-phased transaction, acquire the balance of the 33 percent interest in the BRPM joint venture from RPM, including full title in respect of all assets owned by RPM.

Technology, cyber concerns dominate SA insurers' business risks - report

JOHANNESBURG, July 17 (ANA) - Technology and cyber crime are among the biggest concerns for insurers across the globe, professional services company PwC said on Wednesday, citing an annual survey which included 28 responses from South African firms..

GLOBAL MARKETS-Trade war, Brexit stoke debt and dollar, hit...

* U.S. retail sales strong, but market still set on Fed cut * Dollar gains, sterling stricken by hard-Brexit fears * World shares just off 10-day highs, Europe flat (Updates, adds charts) By Sujata Rao LONDON, July 17 (Reuters) - Resurgent trade tensions, concern over the outlook for corporate America and the growing risk of a chaotic Brexit in the United Kingdom curtailed appetite for equities on Wednesday and stoked demand for "safe" government bonds. U.S. President Donald Trump renewed his threat to tax another $325 billion of Chinese goods, amid nervousness over when the two sides will resume trade talks.

Send in the troops: Congo raises the stakes on illegal mining

Deploying soldiers to clear tens of thousands of illegal informal miners from mining concessions is a new approach by the authorities in the Democratic Republic of Congo. | DAKAR - A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya, which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources.

In Good Company Experience Returns with a Riveting Business Festival Curated x Women

Following the successful inaugural #InGoodCompanyExperience in 2018, this year ladies in business are in for a treat with the business festival confirmed for 24 August 2019 at Steyn City. According to In Good Company's founder and CEO, Jabulile Gwala there has been a growth of women empowerment events over the years which is imperative, because it is incumbent on women to claim this space to tackle the Gender Diversity & Inclusivity global crisis hands on. "We have come to master the art of real talk & inspiring each other.

We were all ‘duped' by Steinhoff, says former PIC CEO Dan Matjila

The state asset manager increased its investment in the entity that imploded in December 2017, rather than pulling out. The Public Investment Corporation (PIC) had concerns about governance at Steinhoff International, which is why the state asset manager increased its investment in the entity that imploded in December 2017. This was revealed on Tuesday at the Mpati commission of inquiry into allegations of impropriety at the PIC.

Dan Matjila takes responsibility for PIC's Steinhoff losses

Former Public Investment Corporation chief executive DrDan Matjila has told the PIC commission of inquiry that he takes full responsibility for the corporation's losses in retail company Steinhoff. Eyewitness News senior reporter Barry Bateman says Matjila says almost all investors were duped by the company. RELATED: Matjila admits to meeting with ministers to discuss PIC related matters Dan Matjila says he takes full responsibility as the former chief executive of the PIC for the losses that were incurred there but he was questioned on exactly what were those loses, he could not tell the commission.

Is Your Business a Painted Lizard or an Adaptable Chameleon?

By //  by  Alan MyPR : : Directors, Veronica Wantenaar and Merlinda Abrahams. The modern business landscape is shifting faster than ever before - from how companies are structured, to how they deal with their clients, to the markets they operate in. ‘Flexibility' and ‘Adaptability' are the keywords for successful 21st century business practise - and there are few creatures more flexible or adaptable than a chameleon.

New parental leave law and what it means for your business

Jul 17th, 2019 It is common knowledge that South African businesses have had to endure uncertainty over new legislation governing leave, particularly when it comes to planning for its impact on the Unemployment Insurance Fund (UIF) system. The Labour Laws Amendment Bill was signed into law in November 2018. It lays the foundation for parental leave, adoption leave and commissioning parental leave for specific employees.

Is your business up for IoT in enterprise?

By 2025, there will be an estimated 75 billion Internet of Things (IoT) connected devices worldwide. With the push towards smart cities driving much of this, organisations need to partner with specialists who understand the infrastructure requirements of this new, digitally connected landscape. Grant Bennett, Country Manager: South African & Sub-Saharan Africa at SUSE, says: "IoT consists of user devices; data centres, and software working together to capture and analyse data.

Takealot is launching a South African answer to Amazon's ‘Prime Day'

In line with international trends and following on the success of Black Friday, Takealot is launching a first-of-its-kind shopping event in South Africa. The ‘Ultimate Checkout Sale' is the Takealot Group's beginnings of creating a South African version of an annual shopping event akin to those already established in the USA, China and India. "The year on year growth of Black Friday is an excellent indication of the appetite for big shopping events in South Africa," said Kim Reid, Takealot Group CEO.

UPDATE 2-Lowest offer at Egypt's GASC wheat tender for Ukrainian wheat -traders

(Adds cost and freight offers) DUBAI, July 17 (Reuters) - The lowest offer presented at an Egyptian state tender for wheat was at $198.50 a tonne free-on-board (FOB) for Ukrainian wheat, traders said on Wednesday. The offer was presented by Hakan. Results for the tender are expected later on Wednesday.

Senegal - Mauritius relations [Business]

17 years of economic relations between Senegal and Mauritius is under threat following a termination of a tax treaty by the former. Local media reports quote President Macky Sall as saying that the West African nation has lost nearly 150 billion CFA franc or $256 million in its 17 years of tax treaty with Port Louis. Our Jean David-Mihamle engages Pointe-Noire based tax expert, Paul Koffi to unravel what exactly the problem is and how to resolve it.

Dear Jacob Zuma, here's why everyone is out to get you

OPINION Bruce Whitfield Former President Jacob Zuma's children are apparently having a hard time because of their association with their father.  Public figures who betray the public's trust face a special set of penalties.  South African businesspeople also need to be reminded that, like in politics, reputation is everything. In short: don't be an idiot. For more stories, go to Business Insider SA .

Google Introduces Initiative To Help Small Business Owners Grow

According to Kim Spalding, Global Product Director of Small Business Ads at Google, small businesses make a big impact on our communities - creating jobs, treating customers like family, and often defining what makes a town unique. Over the years, they've built a range of tools to help these businesses use the web to grow and thrive. These tools make it easier for small business owners to find and connect with customers and run their businesses. ‘I've had the opportunity to get to know many small business owners and the challenges they face.

Jacob Gedleyihlekisa Zuma, Suicide-Bomber-in-Chief

Editor's note: The opinions in this article are the author's, as published by our content partner, and do not represent the views of MSN or Microsoft. ‘How come I am a participant in this huge enterprise known as Reality?' wondered the Danish philosopher Soren Kierkegaard, back in 1843. ‘Why should I be a participant? Is there no choice in the matter? And if there is no choice, then where is the manager — there's something I want to say to him.

Business Maverick: Lawyer Who Took on Brexit May Sue Over Suspending Parliament

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Tencent-backed live-streaming firm DouYu prices U.S. IPO at low end of range

(Adds company pricing, deal details, background) By Joshua Franklin and Julie Zhu NEW YORK/HONG KONG, July 16 (Reuters) - DouYu International Holdings Ltd, China's largest live-streaming platform, on Tuesday said it sold $775 million in stock at a $3.73 billion valuation after pricing its U.S. initial public offering (IPO) at the bottom of an indicative range. DouYu, which is backed by Chinese social media and gaming giant Tencent Holdings Ltd, sold American depositary shares (ADS) at $11.5 each, compared with a previously stated target of $11.50 to $14.00, the firm said in a statement. Every 10 ADSs represent one ordinary share. That makes the deal the largest Chinese IPO in the United States so far in 2019, eclipsing that of Luckin Coffee Inc which raised $645 million, according Refinitiv data. However the weak pricing opens questions about the necessity of DouYu's decision in May to put its IPO on hold amid a global markets sell-off stemming from U.S.-China trade tensions. The IPO was also a test of U.S.

Distell Inter Hotel Challenge - Orientations

The ‘Wine Steward of the Year' will win an enviable travel experience with Distell, exploring the world of wines and spirits embarking on a brilliant ten-day trip to London, guest of Red Carnation, The Montague on the Gardens while working closely with the 67 Pall Mall sommelier team - the most exclusive wine club in the heart of St James then on to Scotland with visits to top Distell distilleries including Deanston and Bunnahabhain, to France; Cognac and Bordeaux. Guest Speaker Harold "Harry" Melck is an eighth-generation descendant of the well-known Cape family and a chartered accountant by profession. He has spent 20 years specialising in providing strategic, leadership and business transformation advice to organisations as a consultant or as a permanent member of their management teams.  Harry is the latest Cape Wine Master graduate and joins CWA with a wealth of experience in the education sector.

EOH to shut unit linked to ‘suspicious payments'

EOH, which uncovered R1.2bn in suspicious payments, plans to shut down the business unit most closely associated with serious governance failings and wrongdoing. The beleaguered technology group, which provides a variety of technology software and hardware services, is trying to reinvent itself following allegations of corruption in its past dealings with the government. The unit in question, EOH Mthombo, which is a technology provider for telecommunication, manufacturing, mining and retail customers in SA and the UK, would be closed within two years, said EOH group CEO Stephen van Coller, who joined the company 10 months ago. "There are still some contracts there and we'll run those down and when those contracts are finished in the next 18 months to two years, we'll close it down," Van Coller told Business Day in an interview. EOH is one of several high-profile SA companies, including Steinhoff and Tongaat Hulett, in the spotlight for alleged corporate governance failures. A year ago, EOH hired law firm ENSafrica to review all its large, historical technology contracts with the state. ‘Suspicious transactions' The group said the law firm uncovered "suspicious transactions" worth R1.2bn. "The exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or bribery and corruption payments." Among other things, ENSafrica found tender irregularities and "other unethical business practices", including bribery and theft, mainly within the public sector business operated by EOH Mthombo. In a presentation to shareholders, Van Coller said eight perpetrators were responsible for most of the irregularities, which happened between 2014 and 2017. EOH had issued reports to regulators and would press criminal charges as well as civil claims to recover funds. ENSafrica would provide the company with bi-monthly updates, which would be used for further investigations and remedial work. EOH would continue to assess the financial effect of the find

Business Maverick: Sub-Zero Bonds Start to Appear in Emerging Markets

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Business Maverick: Sub-Zero Bonds Start to Appear in Emerging Markets

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Today is not a great day, says EOH CEO

EOH Group CEO Stephen van Coller has blamed eight people in the company for the corruption scandal that hit the JSE-listed IT services company. This morning, Van Coller held a press briefing announcing the results of an ENSAfrica probe into the company's shady dealings. Click here EOH asked ENSAfrica to conduct a proactive comprehensive investigation into EOH contracts to identify any wrongdoing or criminal conduct in the acquisition, award or execution of contracts. The IT services company says from the probe, suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica. "Today is not a great day. It's fairly devastating when you join a business and then you have to go through the process that we have just gone through over the last five months. I would never wish it on my worst enemies," Van Coller said. Van Coller's press conference came a day after the resignations of top executives Pumeza Bam; executive director and CEO of EOH subsidiary Nextec, Zunaid Mayet; and executive director and CEO of EOH's ICT business, Rob Godlonton. From the resignations, some believed the three were going to be implicated in the ENS report today. However, Van Coller lauded the trio for "amazing leadership" qualities. "I would like to deal with the announcement that went out last night for Zunaid, Rob and Pumeza.

Learn to pitch your business idea like a pro

Running your own business or want to run your own business? Engen Pitch & Polish is the platform you need to launch yourself on to the path of success. The Cape Town leg of the annual entrepreneurial pitching competition will take place in Brackenfell on Saturday 3 August at the CAB Conference Centre at 19 Jeanette Street. Engen Pitch & Polish is a national entrepreneurial workshop and competition programme that, so far, has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.

Departing EOH executives were not implicated in corruption - Van Coller

EOH CEO, Stephen van Coller puts on record that the top-level resignations were not related to corruption. Picture: Moneyweb Zunaid Mayet, Rob Godlonton and Pumeza Bam were not implicated in corruption and were not dismissed, EOH Holdings CEO Stephen van Coller said on Tuesday. The JSE-listed technology group said on Monday evening that Mayet, a former group CEO and most recently CEO of subsidiary Nextec, and Rob Godlonton, the CEO of EOH's ICT business, resigned last Friday. Read: EOH rocked by top-level resignations Non-executive director Pumeza Bam also resigned from the board. Bam had served as an executive director of EOH for seven years and as non-executive director for the past two years. "The directors are not implicated in corruption," Van Coller said in a text message to TechCentral on Tuesday morning.

Cycling 4 Mobility to continue to benefit from Scottburgh MTB and Trail Run Weekend

The 2019 Sappi Scottburgh MTB and Trail Run Weekend on 20 and 21 July will channel its energy into the Cycling 4 Mobility charity that has done a huge amount in donating wheel chairs to needy recipients in rural areas of KwaZulu-Natal since its inception in 2012. The idea arose seven years ago when a group of riders decided that they were wanted to ride the joBerg2c for charity and they settled on riding to raise money for those that need wheelchairs and in their first joBerg2c they donated two wheel chairs to recipients identified at each of the ten overnight stops. From there they have often purchased all-purpose chairs and distributed those to people in need, but in recent times they have decided that they need to purchase chairs for people with specific needs.

Rusks: Why you need to double-check the box before you buy

Rusks may be sold in same-sized boxes, but you may find far less content in some than in others. Product weights differ by up to 100g depending on the variety of rusks you choose. SA's advertising regulator recently considered a complaint about the new packaging of Bokomo rusks, which highlighted the confusing situation.

Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH

An investigation by law firm ENSafrica has found evidence of up to R1.2bn in "suspicious transactions" at JSE-listed ICT group EOH. ENSafrica recently completed a forensic probe into the firm. "To date the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited number of EOH employees," EOH said in an update to shareholders on Tuesday..

Learn to pitch your business idea like a pro

Running your own business or want to run your own business? Engen Pitch & Polish is the platform you need to launch yourself on to the path of success. The Cape Town leg of the annual entrepreneurial pitching competition will take place in Brackenfell on Saturday 3 August at the CAB Conference Centre at 19 Jeanette Street. Engen Pitch & Polish is a national entrepreneurial workshop and competition programme that, so far, has helped over 10 000 entrepreneurs improve the way they pitch their businesses to potential investors.

Pure Gold bolsters financing with AngloGold raising

16TH JULY 2019 BY: CREAMER MEDIA REPORTER SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ TSX-V-listed Pure Gold Mining has enlarged its capital raising to $45.5-million, following additional nonbrokered financing of about $13.04-million from South Africa-headquartered gold major AngloGold Ashanti and an institutional investor. The issue of 23.7-million units at $0.55 each to AngloGold Ashanti and the institutional investor will be concurrent with the $32.5-million bought-deal private placement, led by Sprott Capital Partners, that Pure Gold announced last month. ADVERTISEMENT The net proceeds of the transaction would be used for the company's exploration and development activities, as well as for general corporate purposes, Pure Gold, which also trades on the LSE, said in a statement on Tuesday. Pure Gold owns the Madsen Red Lake gold project, in Red Lake, Ontario, .

5 things you need to know in SA business today and 15 ways you can use your phone to improve your productivity

1. Former president Jacob Zuma's testimony yesterday , in a nutshell: "I know nothing about it." He started the day at the state capture inquiry with an announcement that he was issued a death threat following Monday's testimony, and the proceeded to deny all allegations - including that a Gupta family member allegedly offered former ANC MP Vytjie Mentor the position of minister of public enterprises. 2.

Business Intelligence Analyst / Developer wanted: APPLY NOW

Vacancy Details Employer: Moyo Talent Solutions Our client is looking to employ a passionate Business Intelligence (BI) Developer/Analyst to turn data into information, information into insight and insight into business decisions. Responsibilities include conducting full solution lifecycle activities such as client engagements to understand business problems and requirements, data analysis, solution design, database, data integration and reporting design and development. Previous exposure and/or a good understanding of data warehouse design principles, development approaches and methodologies and data visualization and reporting is key to fulfil an end to end role within the BI space.

IMPALA PLATINUM HOLDINGS LIMITED - Invitation to holders to offer to convert outstanding U.S.$250,000,000 3.25 per cent. con

IMP IMCB22 201907170004A Invitation to holders to offer to convert outstanding U.S.$250,000,000 3.25 per cent. convertible bonds due 2022 IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ISIN: ZAE000083648 ADR code: IMPUY JSE 2022 Convertible Bond ISIN: ZAE000247458 JSE 2022 Convertible Bond Code: IMCB22 FSE 2022 Convertible Bond ISIN: XS1623614572 FSE 2022 Convertible Bond Code: 162361457 (‘Implats') NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR IN ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW INVITATION TO HOLDERS TO OFFER TO CONVERT OUTSTANDING U.S.$250,000,000 3.25 PER CENT. CONVERTIBLE BONDS DUE 2022 Introduction Implats announces that it invites the holders (‘Bondholders') of its U.S.$250,000,000 3.25 per cent.

Markets LIVE: Rand slightly weaker in early trade

Rand slightly weaker in early trade  The rand was trading softer against the dollar in early trade on Wednesday,  The currency opened at R13.94 and was changing hands at R13.98 at 08:20, down 0.23%. "Strong retail sales data in the US saw the rand retreat against the dollar after reaching highs of R13.85/$ during trade on Tuesday" said Bianca Botes of Peregrine Treasury Solutions in a note to clients. "Strong carry trade, supported by the anticipated Fed interest rate cut, continues to support the rand.   Local retail sales are due for release today, with markets expecting an increase of 1.6% year-on-year, while the UK and EU will both release CPI. The US will release housing starts this afternoon." According to a majority of economists in a Bloomberg poll, meanwhile, the SA Reserve Bank will cut interest rates on Thursday. .

EOH finds suspicious past deals of R1.2bn

EOH, which announced on Monday that three long-serving executives had resigned, says a probe into its past government dealings uncovered suspicious transactions worth R1.2bn....

We were all ‘duped' by Steinhoff, says former PIC CEO Dan Matjila

The Public Investment Corporation (PIC) had concerns about governance at Steinhoff International, which is why the state asset manager increased its investment in the entity that imploded in December 2017. This was revealed on Tuesday at the Mpati commission of inquiry into allegations of impropriety at the PIC. In 2016 the PIC extended a R9.35 billion loan to a special purpose vehicle Lancaster 101 to buy a 2.75% empowerment stake in the then mighty global retailer.

EOH: The suspicious transactions inside the company

EOH holdings tumbled on the JSE yesterday after an investigation by ENSafrica revealed the rot that involved a series of suspicious transactions by a group of individuals which the information and technology group said had been reported to the Hawks.  The stock fell nearly 13 percent in early trade before closing at R20.70 after it reported that the irregular tenders amounted to nearly R1.2 billion.  Chief executive Stephen van Coller said eight individuals were implicated in the report, but their actions affected all 11 000 employees in the group.  Van Coller said those implicated excluded the three directors who resigned from the group on Monday. "Clearly, today is not a great day. It is fairly devastating when you join a business and then you have to go through the process we have gone through over the last five months.

South Korea says Japan dispute to hit global companies, U.S. business

SEOUL (Reuters) - Export curbs Japan imposed in its dispute with South Korea will adversely effect global technology companies and hurt the operations of tech giant Samsung in the Texas state capital of Austin, a South Korean government source said on Wednesday. Japan's steps are inconsistent with World Trade Organization principles, but South Korea wants to resolve the dispute through dialogue, the source told reporters in Seoul, speaking on the condition of anonymity in order to discuss negotiations. If Japan goes so far as to drop South Korea from its "white list" of countries with minimum trade restrictions, it would cause a "tremendous amount of problems," the source added.

BUSINESS MAVERICK: Another one bites the dust as André Pillay resigns as Eskom group treasurer

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Mastering entrepreneurship at Wits Business School

For someone wanting to take a ‘deep dive' into the world of entrepreneurship, the Master of Management in Entrepreneurship and New Venture Creation (MM-ENVC) at Wits Business School is a compelling option. This exciting, intensive, one-year programme gives students a firm grasp on how entrepreneurship works and is an excellent basis for understanding how individual business activities such as finance, strategy, marketing and operations fit all together in any enterprise. "The aim of the MM-ENVC is to foster a strong culture of creativity, innovation and technological advancement in the knowledge economy. Worldwide entrepreneurial activity is a key driver of the modern economy and is linked with economic growth and development, job creation, and offers solutions for structural inequality," says Professor Boris Urban, Director of the MM-ENVC at WBS. "The ability to challenge existing business practices contributes to economic development and the MM-ENVC is uniquely positioned to respond to the profound challenges of our times and to take advantage of the opportunities in our local and broader African and global contexts." WBS falls under the Faculty of Commerce, Law and Management (CLM) at Wits University, one of the highest rated research universities in the world. The strong focus on research in the MM-ENVC programme is what differentiates it from similar offerings.

Secrets for starting and growing a business

As the founder of the GirlTalk Network, I know that one of the best ways to grow personally and financially is to seek inspiration and knowledge from those who are already walking the walk in their own authentic way. Starting a business isn't easy, and growing it into an empire can seem like a pipe dream. But it can be a reality.

African Markets - Factors to watch on July 17

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - EVENTS: *Kenyan Court to hear challenge over government's crackdown on betting GLOBAL MARKETS Asian shares drifted off on Wednesday as anxious investors awaited more earnings reports from corporate America, while the dollar held firm in the wake of robust U.S. retail data and a Brexit-driven dive in the pound. MKTS/GLOB WORLD OIL PRICES Oil prices rose on Wednesday after steep falls in the previous session, although U.S.

WATCH: What the EOH investigation uncovered

EOH CEO Stephen van Coller talks to about said the ENS Africa investigation into the company An ENS Africa investigation has uncovered R1.2bn in suspicious payments and evidence of governance failings at EOH. CEO Stephen van Coller said that eight perpetrators are largely responsible for the irregularities. He joined Business Day TV on the line to discuss the findings and the chances of a complete turnaround for the company..

GLENCORE PLC - GLN: Transactions In Own Shares-16 July 2019

GLENCORE PLC (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 17 July 2019 Transactions in own shares-16 July 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 16 July 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,314,684 Lowest price paid per share (GBp): 267.0000 Highest price paid per share (GBp): 274.7000 Volume weighted average price paid per share (GBp): 271.8335 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 939,307,064 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,646,893,002. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue

IMPALA PLATINUM HOLDINGS LIMITED - Invitation to holders to offer to convert outstanding U.S.$250,000,000 3.25 per cent. con

Invitation to holders to offer to convert outstanding U.S.$250,000,000 3.25 per cent. convertible bonds due 2022 IMPALA PLATINUM HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1957/001979/06) JSE Share code: IMP ISIN: ZAE000083648 ADR code: IMPUY JSE 2022 Convertible Bond ISIN: ZAE000247458 JSE 2022 Convertible Bond Code: IMCB22 FSE 2022 Convertible Bond ISIN: XS1623614572 FSE 2022 Convertible Bond Code: 162361457 ("Implats") NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR IN ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW INVITATION TO HOLDERS TO OFFER TO CONVERT OUTSTANDING U.S.$250,000,000 3.25 PER CENT. CONVERTIBLE BONDS DUE 2022 Introduction Implats announces that it invites the holders ("Bondholders") of its U.S.$250,000,000 3.25 per cent.

When is Moody's going to put us out of our misery and downgrade us?

15 mins ago A sign for Moody's rating agency stands in front of the company headquarters in New York, September 18, 2012 It has been more than two years since Fitch Ratings downgraded South Africa's foreign and local currency bonds to sub-investment grade in April 2017. Just days earlier, S&P Global had done the same for South Africa's foreign currency credit rating. The third of the big agencies, Moody's, also downgraded the country's rating by one notch around the same time, although it kept it above investment grade.

#PICInquiry: Steinhoff deal was significant and regrettable says Matjila

The former head of the Public Investment Corporation (PIC) Dr Dan Matjila has lamented the PICs investment with global retail company Steinhoff saying the losses incurred in the deal were "significant and regrettable" adding he took full responsibility for them. According to Matjila during his tenure at the PIC the stateowned asset manager was provided with an opportunity to buy 3.5% of shares in Steinhoff that carried special voting rights. This deal ensured that the PIC would also secure a seat on the Steinhoff board.  Matjila said at the time the transaction appeared to be a good idea for the PIC as Steinhoff ranked 5th with the largest stock on the JSE All Share Index before its big collapse in 2017 following revelations of corruption.Matjila said while the PIC was heavily criticised over its business dealings with Steinhoff the question posed to the asset manager shouldnt have been "Why was the PIC duped by Steinhoff" but rather "Who wasnt duped by Steinhoff""Moreover the depth and breadth of the carefully orchestrated malfeasance at Steinhoff committed over several years is only now beginning to be exposed. There was no way any prudent investor either here in South Africa or abroad would have been able to detect any irregularities" he said.He added that he wanted to ask the question every asset manager who invested Steinhoff was asking and that is "where were the auditors when this malfeasance was being carried out"He said like any other investor the PIC was and will always be dependent on audited reports to make prudent investment decisions.Meanwhile Matjila who continued to testify at the Commission of Inquiry into alleged impropriety at the PIC denied allegations that the organisation had funded a business in which Siyabonga Nene the son of former Finance Minister Nhlanhla Nene had a vested interest in and that his father had influenced the deal.

Matjila taken to task over PIC investment in Steinhoff

PRETORIA - Former Public Investment Corporation (PIC) chief executive Dr Dan Matjila said he took full responsibility for the corporation's losses in retail company Steinhoff but said almost all investors were duped by the company. Matjila was addressing details surrounding the PIC's questionable investments on Tuesday at the commission of inquiry which was chaired by retired Judge Lex Mpati.  In 2016, the PIC loaned a company called Lancaster Investment nearly R10 billion to buy additional shares in Steinhoff, the company later collapsed as allegations of accounting fraud emerged. Matjila said purchasing shares in Steinhoff through Lancaster was to advance the BEE status of the company, but commissioner Gill Marcus questioned this.

Banks, financials nudge JSE higher

The JSE closed marginally higher on Tuesday, with banks and financials leading the gains. Investors were closely watching US retail sales data, released earlier in the day, as markets look for any catalysts that will encourage the US Federal Reserve to cut interest rates more sharply than expected at its next meeting. The JSE all share rose 0.9% to 58,052.70 points and the top 40 0.99%.

10 Ways To Reward Yourself As A Business Owner

. As an entrepreneur you you need all the motivation you can need. Business does not always do good, but when it does, please pamper yourself. This will help rejuvenate and motivate you.

JSE set for another cautious start on Wednesday

Local bourse could take cue from Asian markets amid better-than-expected retail sales data from the US and ongoing trade tensions SA stocks could open mixed again on Wednesday, taking their cue from Asian markets, following better-than-expected retail sales data from the US and amid simmering trade tensions. The US dollar rose overnight thanks to healthy US retail sales data, which slightly reduced the need for an interest rate cut in the world's biggest economy. However, "the strong retail sales print had little impact on market pricing for a July rate cut, with most Fed officials still lining up behind a cut", National Australia Bank analyst Tapas Strickland said in a note. At the same time, "trade rhetoric remains on the strong side", with no signs that tensions will abate any time soon, Strickland said. Chinese officials indicated that the country is preparing for a protracted trade spat and is in no hurry to reach a deal, while US President Donald Trump said in a tweet he could put further tariffs in place against China. "Stocks remain resilient to the trade tensions, supported by aggressive Fed easing," Strickland said. The S&P 500 index fell 0.3% overnight as technology stocks declined amid concerns about greater scrutiny from Trump's administration. "Tech stocks have been one of the biggest drivers of the rally, so regulatory headwinds should be a focus for stocks as well as the current earnings season," Strickland said. Hong Kong's Hang Seng index was 0.3% down on Wednesday morning, while mainland Chinese markets were mixed. Japan's Nikkei 225 lost 0.3% and Korea's Kospi 1.1%. Australia's main benchmark added 0.4% after board minutes from the country's central bank indicated it was positioned to provide further support to the economy "if needed". WeChat-owner Tencent, which influences the JSE via major shareholder Naspers, rose 0.2% in Hong Kong. JSE-heavyweight BHP Group was 1.2% higher in Australia. The miner, which will publish an operational review for the year to end-June on

A Sandton office building that once housed SAB is about to become (relatively) cheap apartments: here's how it will transfor

The BlackBrick project has started to turn an old office building, once home to beer giant SAB AB InBev, into apartments selling for as little as R950,000 - which is pretty cheap for the heart of Sandton. That comes with a concierge and room service, plus a "meditation garden". This is what the building looked like before, and what it is turning into.

Pics: Old SAB building in Sandton is about to upgraded to hot apartments!

A revolution in service led urban living, BlackBrick has launched an entirely new residential concept in the centre of Sandton, Africa's economic capital. Sandton, South Africa - Conversion of the building at 25 Fredman Drive, formerly home to the offices of SAB / ABInBev, is already underway and will soon be home to 208 apartments including a hotel component in an environment anchored by hospitality and community, with a world-first residential club membership offering. Buyers into BlackBrick automatically become club members - as will the tenants who rent the apartments.

South Africa: A R1.2 Billion Pot of Toxic Soup At EOH

[Daily Maverick] Eight people. That s all. Eight people out of EOH s staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017.

South African Markets - Factors to watch on July 17

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS Statistics South Africa will publish retail sales data for May at 1100 GMT. SOUTH AFRICAN MARKETSSouth Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the U.S. central bank next week before making any big calls. .J ZAR/ GLOBAL MARKETS Asian shares drifted off on Wednesday as anxious investors awaited more earnings reports from corporate America, while the dollar held firm in the wake of robust U.S. retail data and a Brexit-driven dive in the pound. MKTS/GLOB WALL STREET U.S.

Business blitz: Kevali Chemicals

It took five fresh minds to kick-start the innovative Kevali Chemicals. The business focuses on a number of facets including brewer, wineries and even dairy amongst others. To better understand the work that goes into running such a diverse business, we spoke to co-founder Funeka Khumalo about what it takes being part of Kevali Chemicals.

ENSafrica report Shows Tender Irregularities at EOH

EOH CEO A n ENSafrica report has revealed evidence of a number of governance failings and wrongdoing at EOH. Following submission of a forensic report and its recommendations to the board of directors of EOH, the company said its board has assessed the findings of the ENSafrica report and has prepared an interim update on the forensic investigation The report by the law firm unearthed wrongdoings including unsubstantiated payments, tender irregularities and other unethical business practices. The wrongdoings are primarily limited to the public sector business centralised in EOH Mthombo and to a limited number of EOH employees, the company said.

Telcos need to diversify to transform their business

Communications service providers (CSPs) have seen the expectation of their customers evolve rapidly over the past 10 to 15 years, and simply being able to provide users with a fixed or mobile voice service and basic messaging is no longer enough in a modern, digital age that has seen a growing demand for varied and personalised offerings. This is according to Ahmad Sayed, regional head and vice-president: sales, Middle East and Africa at Nexign, Joint Stock Company, who adds that the change started with the advent of the internet, and the additional functionality that it enabled on end user devices - right from web browsing, and email, to more interactive forms of instant messaging. "We have now seen a revolution in the financial services industry, with CSPs starting to deliver many similar services in Africa. In addition, the people who stand to benefit from e-banking are often from rural areas that are not served by the traditional providers," Sayed says. This is just one industry that service providers are looking to, in order to uncover new opportunities for growth. In making the transition to becoming digital service providers, they will be able to play a vital role in the development and deployment of Smart Cities, Smart Industries, Smart Utilities, Smart Transportation, Smart Healthcare, and more - with each of these requiring good communications networks in order to function. Sayed explains however that CSPs first need to digitally transform their business in order to take advantage of these many opportunities, and put in place the right solutions and technologies, such as fully digital business support system (BSS). "In the case of financial services, CSPs need to be able to support real-time account balance management for interactions with payment systems, e-commerce, banks, and processing by using customer balances for third-party transactions.

Matjila taken to task over PIC investment in Steinhoff

In 2016, the PIC loaned a company called Lancaster Investment nearly R10 billion to buy additional shares in Steinhoff, the company later collapsed. | PRETORIA - Former Public Investment Corporation (PIC) chief executive Dr Dan Matjila said he took full responsibility for the corporation's losses in retail company Steinhoff but said almost all investors were duped by the company. Matjila was addressing details surrounding the PIC's questionable investments on Tuesday at the commission of inquiry which was chaired by retired Judge Lex Mpati.

GLENCORE PLC - GLN: Transactions In Own Shares-16 July 2019

GLN 201907170008A GLN: Transactions In Own Shares-16 July 2019 GLENCORE PLC (Incorporated in Jersey under the Companies (Jersey) Law 1991) (Registration number 107710) JSE Share Code: GLN LSE Share Code: GLEN HKSE Share Code: 805HK ISIN: JE00B4T3BW64 Baar, Switzerland 17 July 2019 Transactions in own shares-16 July 2019 Glencore plc (the Company) announces today it has purchased the following number of its ordinary shares of USD 0.01 each on the London Stock Exchange from Citigroup Global Markets Limited. Date of purchase: 16 July 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 2,314,684 Lowest price paid per share (GBp): 267.0000 Highest price paid per share (GBp): 274.7000 Volume weighted average price paid per share (GBp): 271.8335 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 939,307,064 of its ordinary shares in treasury and has 14,586,200,066 ordinary shares in issue (including treasury shares). Therefore the total voting rights in Glencore plc will be 13,646,893,002. This figure for the total number of voting rights may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules. These share purchases form part of the Company's buy-back programme that started on 22 February 2019 and will run until the end of the year, as announced by the Company in its Preliminary Results on 20 February 2019. For more information visit: www.glencore.com/investors/shareholder-centre/Share-buy-backs Aggregated information Volume weighted Trading venue Aggregated volume average price London Stock Exchange 271.8408 1,351,851 BATS 271.7486 29,995 Chi-X 271.8257 932,838 Transaction details In accordance with Article 5(1)(b) of Regulation (EU) No 596/2014 (the Market Abuse Regulation), the table below contains detailed information of the i

We were all ‘duped' by Steinhoff, says former PIC CEO Dan Matjila

The Public Investment Corporation (PIC) had concerns about governance at Steinhoff International, which is why the state asset manager increased its investment in the entity that imploded in December 2017. This was revealed on Tuesday at the Mpati commission of inquiry into allegations of impropriety at the PIC. In 2016 the PIC extended a R9.35 billion loan to a special purpose vehicle Lancaster 101 to buy a 2.75% empowerment stake in the then mighty global retailer.

Rand weaker as the JSE gains strength

The rand edged weaker in subdued trade yesterday with market participants awaiting a local lending rates decision and one by the US central bank next week before making any big calls.At 5pm the rand bid at R13.9088 to the dollar 1 cent softer than at the same time on Monday and hardly budging from the overnight close of R13.9025.Early trade saw the rand touch a session best of R13.8350 before strong growth in US retail sales reenergised the greenback and dampened expectations of a deep rate cut by the US Federal Reserve next week.Locally retail sales data due today will likely be overshadowed by the policy decision by the SA Reserve Bank (SARB) tomorrow.Twentyfour of 30 economists in a survey by Reuters said the SARB would cut rates by 25 basis points to 6.5 percent tomorrow. Two expected a cut of 50 basis points. The other four said rates would be left unchanged.Bonds were slightly firmer with the yield on the benchmark 2026 paper down 1.5 basis points to 8.025 percent.On the bourse stocks rose with other emerging market assets.

BRIEF-Anglo American Platinum Gets Section 11 Approval Regarding BRPM JV

July 17 (Reuters) - Anglo American (LON:AAL) Platinum Ltd AMSJ.J : * SECTION 11 APPROVAL IN RESPECT OF THE DISPOSAL OF 33% INTEREST IN THE BRPM JOINT VENTURE * APPROVAL GRANTED BY DEPARTMENT OF MINERAL RESOURCES FOR TRANSFER OF RPM'S 33% UNDIVIDED INTEREST IN MINING RIGHTS ON BRPM JV * ALL CONDITIONS REGARDING TRANSFER OF MINING RIGHTS HAVE NOW BEEN MET.

JSE inches lower after Trump's tariff threats

US president threatens to levy new tariffs on China, a reminder that the prolonged trade war remains unresolved The JSE weakened on Wednesday, amid cautious trade on global markets, after US President Donald Trump issued fresh tariff threats against China. Trump has threatened the tariffs in response to China's alleged failure to live up to a pledge to increase purchases of US farm products. US markets fell on Tuesday, coming off recent record highs, while Asian markets were also lower on Wednesday morning. At 9.05am the all share was down 0.18% to 57,950.5 points and the top 40 0.18%. Banks were down 0.79%, platinums 2.69% and gold miners 0.74%. Gold was flat at $1,405.98/oz while platinum was up 0.26% to $840.35. Brent crude was up 0.5% to $64.60 a barrel. Naspers was down 0.58% to R3,473.87. Standard Bank fell 0.77% to R190.66. Diversified miner Anglo American added 0.41% to R382.41 and BHP 0.63% to R352.59. Aspen Pharmacare was down 1.42% to R102.39. Local focus on Wednesday is on retail sales data for May, due to 1pm local time.

#PICInquiry: Where were Steinhoff auditors?

Former Public Investment Corporation (PIC) chief executive Dan Matjila yesterday questioned the role played by Steinhoff International's auditors..

Careers in business analysis

Before outlining what sort of different positions exist in the world of systems analysis, it's important that we define what business and business systems analysis is. We should also look at the general salary expectations one can have when entering business analysis. What is business analysis? Business analysis is the process of analysing and evaluating the systems within a business, and ensuring that they are performing as well as they can.

BHP GROUP PLC - Operational Review for the Year Ended 30 June 2019

BHP 201907170002A Operational Review for the Year Ended 30 June 2019 BHP Group Plc Registration number 3196209 Registered in England and Wales Share code: BHP ISIN: GB00BH0P3Z91 NEWS RELEASE LOGO Release Time IMMEDIATE Date 17 July 2019 Release Number 14/19 BHP OPERATIONAL REVIEW FOR THE YEAR ENDED 30 JUNE 2019 . Exceeded full year production guidance for petroleum and met revised guidance for copper and iron ore. Metallurgical coal and energy coal production marginally below guidance predominantly as a result of lower than expected wash plant yields and adverse weather impacts during the June 2019 quarter. .

ROYAL BAFOKENG PLATINUM LIMITED - Section 11 approval in respect of the acquisition of the RPM Participation Interest

RBP RBPCB 201907170013A Section 11 approval in respect of the acquisition of the RPM Participation Interest ROYAL BAFOKENG PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2008/015696/06) JSE share code: RBP ISIN: ZAE000149936 Company code: RBPD Bond code: RBPCB ISIN: ZAE000243853 (‘RBPlat' or ‘the Company') SECTION 11 APPROVAL IN RESPECT OF THE ACQUISITION OF THE RPM PARTICIPATION INTEREST Security holders are referred to the various announcements released by the Company on SENS, the last of which was dated 12 December 2018, in terms of which the Company advised security holders that its wholly-owned subsidiary, Royal Bafokeng Resources Proprietary Limited (‘RBR'), had entered into an agreement with Rustenburg Platinum Mines Limited (‘RPM'), a wholly-owned subsidiary of Anglo American Platinum Limited, in terms of which RBR would, in a two-phased transaction, acquire the balance of the 33% interest in the Bafokeng Rasimone Platinum Mine Joint Venture (‘BRPM JV') (‘RPM Participation Interest') from RPM (the ‘Transaction'). On 12 December 2018, security holders were advised that all conditions precedent to phase I of the Transaction had been fulfilled and that, with effect from 11 December 2018, the risks and rewards of ownership had passed to RBR in respect of the RPM Participation Interest, including full title in respect of all assets owned by RPM, other than RPM's 33% undivided interest in the mining rights attributable to the BRPM JV. The board of directors of RBPlat is pleased to advise security holders that the Department of Mineral Resources has now granted its unconditional consent in terms of section 11(1) of the Mineral and Petroleum Resources and Development Act, 2002, to the transfer of RPM's undivided interest in the mining rights. Accordingly, in terms of phase II of the Transaction, RBR will proceed to register full title in respect of RPM's 33% undivided interest in the mining rights attributable to the BRPM JV (which entai

ANC Unity Threatened By Zuma State Capture Revelations

Former Public Investment Corporation (PIC) CEO Dan Matjila appearing at the commission of inquiry into the PIC. Picture: Kayleen Morgan/EWN PRETORIA - Former Public Investment Corporation (PIC) chief executive Dr Dan Matjila said he took full responsibility for the corporation's losses in retail company Steinhoff but said almost all investors were duped by the company. Matjila was addressing details surrounding the PIC's questionable investments on Tuesday at the commission of inquiry which was chaired by retired Judge Lex Mpati.

Implats strengthening balance sheet through early conversion of bonds

Platinum group metals (PGMs) producer Impala Platinum (Implats) is inviting holders of its $250-million 3.25% convertible bonds due in 2022 (USD bonds) to exercise their conversion rights. Bondholders will receive a cash payment and shares in Implats in accordance with the terms of the USD bonds. The optimisation of Implats' balance sheet through a reduction and restructuring of its existing debt is a key pillar of its strategy to reposition as a profitable, sustainable and competitive business with clear capital allocation priorities and, ultimately, a return to a dividend paying position.  To this end, the USD bonds have been identified as a priority given their higher relative risk profile and costs when combined with the Cross Currency Interest Rate Swap.

Steinhoff: You cannot fool the market at least not all the time!

JOHANNESBURG   On 24 October 2017 Steinhoff repurchased 78.4 million Steinhoff shares at R61.40 per share or 3.73 euros per share at the prevailing exchange rates.  It surely smacks of a put option (the right to sell shares at a given price) that was exercised against Steinhoff or one of its special purpose entities. Was it an option that was part of the PICbacked Lancaster 101s purchase of Steinhoff shares from Steinhoff itself What we know is that Paul Magula previous Executive Head: Risk and Compliance at the PIC said in his statement before the PIC Commission: Yes (it took) just five months from investment decision to impair up to R5 billions of credit investment. We also know that in the process the PIC partially passed on its security put in place to Citibank by subordinating security at no cost.

5 things you need to know in SA business today and 15 ways you can use your phone to improve your productivity

1. Former president Jacob Zuma's testimony yesterday , in a nutshell: "I know nothing about it." He started the day at the state capture inquiry with an announcement that he was issued a death threat following Monday's testimony, and the proceeded to deny all allegations - including that a Gupta family member allegedly offered former ANC MP Vytjie Mentor the position of minister of public enterprises. 2.

Send in the troops: Congo raises the stakes on illegal mining

* Tens of thousands of miners trespass on concessions * Congo's cobalt essential to electric vehicle revolution * Congo says army deployment to prevent deadly accidents * GRAPHIC-Cobalt mined production 2018: https://tmsnrt.rs/2NQJmFg By Aaron Ross DAKAR, July 17 (Reuters) - A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya, which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources. "The army started to burn down the tarpaulin houses." Deploying soldiers to clear tens of thousands of illegal informal miners from mining concessions is a new approach by the authorities in Democratic Republic of Congo, who have wrestled with the problem for decades. Years of negotiations, alternative employment programmes and sporadic interventions by the police have all failed to resolve the issue, which has long been a concern for mining companies sitting on some of the world's richest mineral deposits. But using soldiers to keep illegal miners out of vast concessions is likely to be a protracted and potentially violent battle, analysts say.

Dan Matjila on Steinhoff investment: "It was all for BEE"

Former Chief Executive of the Public Investment Corporation (PIC), Dan Matjila had quite a lot of explaining to do regarding the asset manager's shoddy investment into the derailed Steinhoff. The hype around the epic failure of the giant furniture retailer may have died down but the commission of inquiry into allegations of impropriety at the PIC sought to understand the thinking behind throwing all those billions into a sinking ship. Why PIC invested billions into Steinhoff Granted, the PIC's investment in Steinhoff was secured in August 2016, a little over a year before it was discovered that the furniture manufacturer's accounting books were cooked.

WATCH: PIC Inquiry

On Tuesday former PIC CEO Dan Matjila has told the inquiry in Pretoria that the PIC's Investment in Steinhoff was significant and deeply regrettable - and he will take full responsibility as the former head of the corporation. Matjila was testifying on challenges the PIC had with the global retailer. In 2016 Matjila says Steinhoff was the fifth largest stock on the JSE before it collapsed - and this was a very "sound Investment".

Budweiser APAC's IPO failure hurt retail investors, say newspaper adverts urging reform

HONG KONG, July 17 (Reuters) - The dramatic failure of brewer Budweiser APAC's $9.8 billion Hong Kong listing left "mom and pop" investors badly out of pocket, a local broker has said in an unusual series of full-page advertisements in newspapers across the city on Wednesday. Bright Smart Securities & Commodities Group Ltd urged bourse operator Hong Kong Exchanges and Clearing Ltd (HKEX) and regulator Securities and Futures Commission (SFC) to reform the listing process. Retail investors accounted for 23% of trading in Hong Kong last year, far higher than in other major markets such as New York or London.

#PICInquiry: Where were Steinhoff auditors?

JOHANNESBURG - Former Public Investment Corporation (PIC) chief executive Dan Matjila yesterday questioned the role played by Steinhoff International's auditors in the multi-year fraud that saw the once top 40 company on the Johannesburg Stock Exchange plunge more than 90percent since the scandal broke in late 2017. Matjila told the Lex Mpati Commission appointed by President Ramaphosa to look into the affairs of the PIC that all asset managers including the PIC were "duped" by Steinhoff and that the group's auditors should shoulder the blame for not picking up the financial irregularities. "As a retail group with a global presence, Steinhoff was considered a sound investment and a darling of the JSE as well as other various stock exchanges around the world.

INSIGHT-Send in the troops: Congo raises the stakes on illegal mining

* Tens of thousands of miners trespass on concessions * Congo's cobalt essential to electric vehicle revolution * Congo says army deployment to prevent deadly accidents * GRAPHIC-Cobalt mined production 2018: tmsnrt.rs/2NQJmFg By Aaron Ross DAKAR, July 17 (Reuters) - A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya, which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources.

3 things that food brands should know before jumping into the delivery business

News flash: we're lazy. Many of us often don't want to cook, nor do we want to be bothered to go out and get prepared food ourselves. Restaurants deliver meals through their own staff or through third-party services such as Caviar, DoorDash, Grubhub, Postmates or Uber Eats, to name just a few.

ROYAL BAFOKENG PLATINUM LIMITED - Section 11 approval in respect of the acquisition of the RPM Participation Interest

Section 11 approval in respect of the acquisition of the RPM Participation Interest ROYAL BAFOKENG PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2008/015696/06) JSE share code: RBP ISIN: ZAE000149936 Company code: RBPD Bond code: RBPCB ISIN: ZAE000243853 ("RBPlat" or "the Company") SECTION 11 APPROVAL IN RESPECT OF THE ACQUISITION OF THE RPM PARTICIPATION INTEREST Security holders are referred to the various announcements released by the Company on SENS, the last of which was dated 12 December 2018, in terms of which the Company advised security holders that its wholly-owned subsidiary, Royal Bafokeng Resources Proprietary Limited ("RBR"), had entered into an agreement with Rustenburg Platinum Mines Limited ("RPM"), a wholly-owned subsidiary of Anglo American Platinum Limited, in terms of which RBR would, in a two-phased transaction, acquire the balance of the 33% interest in the Bafokeng Rasimone Platinum Mine Joint Venture ("BRPM JV") ("RPM Participation Interest") from RPM (the "Transaction"). On 12 December 2018, security holders were advised that all conditions precedent to phase I of the Transaction had been fulfilled and that, with effect from 11 December 2018, the risks and rewards of ownership had passed to RBR in respect of the RPM Participation Interest, including full title in respect of all assets owned by RPM, other than RPM's 33% undivided interest in the mining rights attributable to the BRPM JV. The board of directors of RBPlat is pleased to advise security holders that the Department of Mineral Resources has now granted its unconditional consent in terms of section 11(1) of the Mineral and Petroleum Resources and Development Act, 2002, to the transfer of RPM's undivided interest in the mining rights. Accordingly, in terms of phase II of the Transaction, RBR will proceed to register full title in respect of RPM's 33% undivided interest in the mining rights attributable to the BRPM JV (which entails consolidating RPM's 33% participati

Amplats completes disposal of 33 pct stake in Bafokeng Rasimone mine

JOHANNESBURG, July 17 (ANA) - Anglo American Platinum (Amplats) said on Wednesday it had completed the disposal of its 33 percent holding in the  Bafokeng Rasimone Platinum Mine (BRPM) joint-venture after the department of mineral resources granted approval..

MIDEAST STOCKS-Saudi shares rise, led by banks; other Gulf markets mixed

July 17 (Reuters) - Saudi Arabia's stock index rose for the eighth straight session on Wednesday, led by its banks, while other Gulf markets were mixed, with financial stocks dragging Abu Dhabi lower. Saudi Arabia's main index gained 0.1. The index has been rising since EFG Hermes forecast profit for the kingdom's financial sector would grow 7.6% in the second quarter.

EOH: The suspicious transactions inside the company

EOH holdings tumbled on the JSE yesterday after an investigation by ENSafrica revealed the rot that involved a series of suspicious transactions by a group of individuals which the information and technology group said had been reported to the Hawks.  The stock fell nearly 13 percent in early trade before closing at R20.70 after it reported that the irregular tenders amounted to nearly R1.2 billion.  Chief executive Stephen van Coller said eight individuals were implicated in the report but their actions affected all 11 000 employees in the group.  Van Coller said those implicated excluded the three directors who resigned from the group on Monday. Clearly today is not a great day. It is fairly devastating when you join a business and then you have to go through the process we have gone through over the last five months.

#PICInquiry: Steinhoff deal was significant and regrettable Matjila

The former head of the Public Investment Corporation (PIC) Dr. Dan Matjila has lamented the PICs investment with global retail company Steinhoff saying the losses incurred in the deal were "significant and regrettable" adding he took full responsibility for them. According to Matjila during his tenure at the PIC the stateowned asset manager was provided with an opportunity to buy 3.5% of shares in Steinhoff that carried special voting rights. This deal ensured that the PIC would also secure a seat on the Steinhoff board.  Matjila said at the time the transaction appeared to be a good idea for the PIC as Steinhoff ranked 5th with the largest stock on the JSE All Share Index before its big collapse in 2017 following revelations of corruption.Matjila said while the PIC was heavily criticised over its business dealings with Steinhoff the question posed to the asset manager shouldnt have been "Why was the PIC duped by Steinhoff" but rather "Who wasnt duped by Steinhoff""Moreover the depth and breadth of the carefully orchestrated malfeasance at Steinhoff committed over several years is only now beginning to be exposed.

Implats flags dividend resumption after early settlement of $250m convertible bond

IMPALA Platinum (Implats) has taken the gap provided by improved platinum group metal (PGM) pricing to close early some $250m in convertible bonds in a development that helps significantly improve the look of the firm's balance sheet. South Africa's PGM sector is highly cash generative with estimates that some R33bn could be generated in free cash over the 2019 and 2020 financial years by the five main firms in the PGM sector: Anglo American Platinum (Amplats), Implats, Royal Bafokeng Platinum, as well as Northam Platinum and Sibanye-Stillwater. Implats said today getting the convertible bond mechanism off its back was a key feature of its rehabilitation.

Budweiser APAC's IPO failure hurt retail investors, say newspaper adverts urging reform

By Felix Tam HONG KONG, July 17 (Reuters) - The dramatic failure of brewer Budweiser APAC's $9.8 billion Hong Kong listing left "mom and pop" investors badly out of pocket, a local broker has said in an unusual series of full-page advertisements in newspapers across the city on Wednesday. Bright Smart Securities & Commodities Group Ltd urged bourse operator Hong Kong Exchanges and Clearing Ltd (HKEX) and regulator Securities and Futures Commission (SFC) to reform the listing process. Retail investors accounted for 23% of trading in Hong Kong last year, far higher than in other major markets such as New York or London. They are also active participants in the city's initial public offering (IPO) market. They typically borrow from their brokers to subscribe to IPOs, using the shares they hope to obtain as collateral. Last Thursday, investors awaited the pricing of Budweiser APAC shares in what would have been the world's largest IPO so far this year. However, Belgian parent Anheuser Busch InBev NV cancelled the pricing and called off the IPO the following day. Retail investors nevertheless had to pay interest on the money they had borrowed to subscribe to the IPO. Calling off the IPO "made investors pay interest for no reason," Bright Smart Securities said in its adverts.

South African Markets - Factors to watch on July 17

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday. ECONOMIC EVENTS Statistics South Africa will publish retail sales data for May at 1100 GMT. SOUTH AFRICAN MARKETSSouth Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the U.S. central bank next week before making any big calls. .J ZAR/ GLOBAL MARKETS Asian shares drifted off on Wednesday as anxious investors awaited more earnings reports from corporate America, while the dollar held firm in the wake of robust U.S. retail data and a Brexit-driven dive in the pound. MKTS/GLOB WALL STREET U.S.

Only a minute number of women are chief executives reportfinds

JOHANNESBURG Only 3.31percent of chief executives of JSElisted companies are women in the year to April 2019 a report by PricewaterhouseCoopers (PwC) has shown.If one looks at the composition of the top leadership at JSElisted companies the statistics paint a dim picture the report titled Executive directors: Practices and remuneration released yesterday said.Following Maria Ramoss retirement in February 2019 there were no female chief executives in the JSE top 40; however it is encouraging to see that Phuti MahanyeleDabengwa has recently been appointed as the chief executive of Naspers it said.Ramos stepped down in February as Absa chief executive after being at the helm of the group since 2009. Last week she was appointed as a director of the Public Investment Corporation board marking her first highprofile appointment since she left the bank.MahanyeleDabengwa was previously the chief executive of Shanduka Group until 2015 when it was sold to the Pembani Group. The PwC report said that the pay disparities between men and women chief executives was problematic citing the largest pay gaps were in the healthcare sector (28.1percent) followed by consumer discretionary (25.1percent) technology (22.9percent) and financials (21.8percent).The overall view of this JSE analysis paints a stark picture of the inequality in representation in companies listed on this stock exchange the report said.In terms of pay packages the median pay for all executive directors including chief executives chief financial officers and managing directors on JSElisted companies increased by 4.9percent in 2018 slightly above inflation which stands at 4.6percent.

Rand weaker as the JSE gains strength

The rand edged weaker in subdued trade yesterday with market participants awaiting a local lending rates decision and one by the US central bank next week before making any big calls. At 5pm, the rand bid at R13.9088 to the dollar, 1 cent softer than at the same time on Monday, and hardly budging from the overnight close of R13.9025. Early trade saw the rand touch a session best of R13.8350 before strong growth in US retail sales re-energised the greenback and dampened expectations of a deep rate cut by the US Federal Reserve next week.

Implats flags dividend resumption after early settlement of $250m convertible bond

IMPALA Platinum (Implats) has taken the gap provided by improved platinum group metal (PGM) pricing to close early some $250m in convertible bonds in a development that helps significantly improve the look of the firm's balance sheet. South Africa's PGM sector is highly cash generative with estimates that some R33bn could be generated in free cash over the 2019 and 2020 financial years by the five main firms in the PGM sector: Anglo American Platinum (Amplats), Implats, Royal Bafokeng Platinum, as well as Northam Platinum and Sibanye-Stillwater. Implats said today getting the convertible bond mechanism off its back was a key feature of its rehabilitation.

Swatch shares jump as it points to uptick in main markets

* Earnings better than expected, sales miss forecasts * Outlook positive for most markets * Says Hong Kong sales hit by political turbulence * Company cracking down on grey market sales * Shares up 5% (Recasts, adds analyst, background) By John Revill ZURICH, July 17 (Reuters) - Swatch Group shares surged 5% after mid-year results on Wednesday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales. The maker of Longines, Omega and Tissot watches said it expected to reverse a first-half sales fall to post positive sales growth for the year. The news was a tonic for shareholders who have been gloomy about the prospects for the watchmaker amid concern the U.S.-China trade war could hurt demand for luxury products. "The Swatch Group anticipates strong growth in the second half of 2019, on the one hand, due to continuing solid demand in the most important markets, and on the other hand, due to the fact that the second half of 2018 was characterised by a poor fourth quarter," it said. The company has been carrying out "uncompromising actions" - against grey market dealers in Europe, the Middle East and South America this year. The offensive against watches which are sold outside Swatch's approved channels had a negative impact on sales in the first half running into the hundreds of millions of francs, the company said. The campaign involved Swatch halting supply of watches to dealers who sold their products to the grey market. "In the long term, this will lead to positive effects in the major markets," Swatch said. "The news on tackling the grey market is really encouraging - you need to create the appearance of scarcity in luxury goods, otherwise they become commodities," said Jon Cox, an analyst at Kepler Cheuvreux. During the

Implats uses cash windfall to tackle expensive bond

Improved metal prices and operational turnaround give Implats the financial muscle to tackle debt Impala Platinum, SA's third-largest source of the metal, offered to redeem its $250m convertible bond due in 2022, removing risk and uncertainty from its balance sheet, and taking advantage of a windfall from higher metal prices. The dollar bond was one of two convertible bond Implats issued in 2017 to raise $500m to redeem two bonds of $200m and a R2.67bn that were falling due in 2018. These two new convertible bonds due in 2022 raised $250m and R3.25bn at a time when Implats was grappling with low metal prices and balance sheet difficulties stemming from the majority of its South African mines being unprofitable. However, with improved palladium and rhodium prices pushing up the price Implats received for the basket of platinum group metals (PGMs) it mines and sells, the company has reduced debt and firmed up its balance sheet with higher levels of cash, allowing it to target expensive and risky debt. "Rising rand PGM pricing and the reported improvement in operational delivery at Implats has had the dual benefit of both improving free cash flow generation and substantial share-price appreciation," said CEO Nico Muller. "This has allowed us to contemplate taking bold steps to accelerate our capital allocation priorities by taking advantage of market conditions to reduce a material debt obligation at the group." The $250m bond has a 3.25% coupon and Implats pays R320m a year in servicing the bond, the single most expensive debt instrument on its balance sheet. Implats said it was offering holders of this bond a cash incentive for an early redemption of the instrument in an exercise that closes on 19 July. It will issue up to 64-million shares to bond holders if the offer is fully taken up. Implats could pay out up to R600m if the bond was fully redeemed, said Hurbey Geldenhuys, head of equities at Vunani Securities. "The dollar bond requires mark-to-market accounting adjustments, which impact

EMERGING MARKETS-Stocks fall on U.S.-China trade woes; FX slides

By Agamoni Ghosh July 17 (Reuters) - Emerging-market shares fell on Wednesday as worries over the U.S.-China trade conflict resurfaced. Currencies in the developing world mostly weakened as the dollar gained. President Donald Trump said on Tuesday the United States had a long way to go to conclude a trade deal with China and could impose tariffs on another $325 billion worth of Chinese goods if it thought they were necessary.MSCI's index for emerging-market shares .MSCIEF fell 0.5%, pulled lower by China .SSEC .CSI300 and Hong Kong .HSI .South Korea's Kospi .KS11 slid nearly 1% and the won KRW= , Asia's worst-performing currency this year, slipped further, amid a political and economic dispute with Japan and the possibility of a rate cut when the Bank of Korea meets on Thursday. Outside Asia, Russian stocks .IMOEX slid 1.3% as declines by Surgutneft SNGS.MM and Gazprom GAZP.MM weighed on the market. RU/RUB Developing-world currencies were mostly lower as the dollar rose overnight following robust U.S.

GLOBAL MARKETS-Debt and dollar in demand, sterling and stocks...

* U.S. retail sales strong, but market still set on Fed cut * Dollar firm as sterling stricken by hard-Brexit fears * World shares hold just off 10-day highs, Europe flat (updates throughout, changes byline, dateline) By Sujata Rao LONDON, July 17 (Reuters) - Resurgent trade tensions, concern over the outlook for corporate America and the growing risk of a chaotic Brexit in the United Kingdom dampened appetite for equities on Wednesday while keeping alive interest in the dollar and government bonds. U.S. President Donald Trump has threatened again to tax another $325 billion of Chinese goods, amid nervousness over when the two sides will resume trade talks.

#PICInquiry: Where were Steinhoff auditors

JOHANNESBURG Former Public Investment Corporation (PIC) chief executive Dan Matjila yesterday questioned the role played by Steinhoff Internationals auditors in the multiyear fraud that saw the once top 40 company on the Johannesburg Stock Exchange plunge more than 90percent since the scandal broke in late 2017.Matjila told the Lex Mpati Commission appointed by President Ramaphosa to look into the affairs of the PIC that all asset managers including the PIC were duped by Steinhoff and that the groups auditors should shoulder the blame for not picking up the financial irregularities. As a retail group with a global presence Steinhoff was considered a sound investment and a darling of the JSE as well as other various stock exchanges around the world. However the fact remains that PICs exposure into Steinhoff represented less than 1percent of the PICs assets under management but material in value Matjila said.I would like to ask the question that every asset manager who invested in Steinhoff is asking and that is: where were the auditors when all this malfeasance was carried out Like any investor the PIC was and will always be totally dependent on audit reports to make prudent investment decisions.Deloitte has maintained that its conduct in looking into the books of Steinhoff was beyond reproach is confident in its conduct as the global retailers auditor.

Ontario's First Cobalt refinery moves closer to restarting

The recommissioning of the First Cobalt refinery in Ontario edged forward this week, with the conclusion of a term sheet between TSX-V-listed company and global miner Glencore, detailing the framework for a fully funded, phased restart of the refinery. The term sheet follows on a memorandum of understanding entered into between the companies in May this year and outlines a phased approach that could see the refinery operational in less than a year and expanded to 55 t/d in 2021. Glencore would provide about $45-million for the recommissioning of the refinery, which First Cobalt said would provide the North American electric vehicle (EV) market with domestically refined battery-grade cobalt.

Construction to soon start on multi-million rand Centurion Mall taxi rank

Construction on a multi-million rand taxi rank on the corner of South Street and Hendrik Verwoerd Drive in Centurion's central business district (CBD) will begin later this month according to Redefine Properties and its project partner the City of Tshwane (CoT). The new taxi rank, in the shadows of Centurion Mall, will cover an area of approximately 10,000m 2 accommodating ranking facilities for 55 taxis as well as a holding area for an additional 100 taxis. The rank will also house offices for taxi associations, 22 informal kiosks for traders and public toilets among other amenities.

EMERGING MARKETS-Stocks fall on U.S.-China trade woes; FX slides

July 17 (Reuters) - Emerging-market shares fell on Wednesday as worries over the U.S.-China trade conflict resurfaced. Currencies in the developing world mostly weakened as the dollar gained. President Donald Trump said on Tuesday the United States had a long way to go to conclude a trade deal with China and could impose tariffs on another $325 billion worth of Chinese goods if it thought they were necessary.

ANGLO AMERICAN PLC - Notification of transactions by Directors and PDMRs

Notification of transactions by Directors and PDMRs Anglo American plc (the "Company") Registered office: 20 Carlton House Terrace, London SW1Y 5AN Registered number: 3564138 (incorporated in England and Wales) Legal Entity Identifier: 549300S9XF92D1X8ME43 ISIN: GBOOB1XZS820 JSE Share Code: AGL NSX Share Code: ANM Notification of transactions by Directors and PDMRs The Company announces transactions in its Ordinary Shares by Directors and PDMRs under the Company's Share Incentive Plan, an HM Revenue & Customs approved all-employee share plan under which employees are able to buy Shares using monthly deductions from salary (Partnership Shares) and are allotted an equivalent number of Shares by the Company (Matching Shares). In accordance with Article 19 of the EU Market Abuse Regulation, the relevant FCA notifications are set out below. 1. Details of PDMR / PCA a) Name Didier Charreton 2. Reason for the notification a) Position / status Group Director - People and Organisation (PDMR) b) Initial notification / Initial notification amendment 3.

How software asset management could save your business money

Cloud applications are becoming a fixture in many workspaces but several businesses are still making use of on-premise software licensing because those licenses are still valid. While this sounds pretty normal and not at all out of the ordinary it could help a business financially if it were to opt for cloud-based software. Many software vendors allow customers to convert existing on-premise software license for use in the cloud according to software asset management (SAM) manager at First Technology National, Matthew Poulter.

Anglo American Platinum Gets Section 11 Approval Regarding BRPM JV

(Reuters) - Anglo American Platinum Ltd: * SECTION 11 APPROVAL IN RESPECT OF THE DISPOSAL OF 33% INTEREST IN THE BRPM JOINT VENTURE * APPROVAL GRANTED BY DEPARTMENT OF MINERAL RESOURCES FOR TRANSFER OF RPM'S 33% UNDIVIDED INTEREST IN MINING RIGHTS ON BRPM JV * ALL CONDITIONS REGARDING TRANSFER OF MINING RIGHTS HAVE NOW BEEN MET Source text for Eikon: Further company coverage: 2019-07-17 11.

Emerging-markets stocks fall on US-China trade tensions

The rand slipped 0.2% ahead of the Reserve Bank's rate decision Bengaluru — Emerging-market shares fell on Wednesday as worries over the US-China trade conflict resurfaced. Currencies in the developing world mostly weakened as the dollar gained. President Donald Trump said on Tuesday that the US had a long way to go to conclude a trade deal with China and could impose tariffs on another $325bn worth of Chinese goods if it thought they were necessary. MSCI's index for emerging-market shares fell 0.5%, pulled lower by China and Hong Kong. South Korea's Kospi slid nearly 1% and the won, Asia's worst-performing currency this year, slipped further, amid a political and economic dispute with Japan and the possibility of a rate cut when the Bank of Korea meets on Thursday. Outside Asia, Russian stocks slid 1.3% as declines by Surgutneft and Gazprom weighed on the market. Developing-world currencies were mostly lower as the dollar rose overnight following robust US retail data and a Brexit-driven dive in the British pound. The rand slipped 0.2% a day before a central bank rate decision. Russia's rouble gained as oil prices rose. In Turkey, stocks advanced 0.5%.

Technology and cyber risk continue to dominate insurer's business risks - Insurance Banana Skins 2019 report

Technology, cyber and change management risks have been pinpointed as the three biggest concerns for insurers across the globe, according to a poll of more than 900 senior industry experts. The Centre for the Study of Financial Innovation's (CFI) latest Insurance Banana Skins 2019 survey, in association with PwC, polled over 900 insurance practitioners and industry observers in 53 countries, to find out where they saw the greatest risks over the next two to three years. There were 28 responses from South African insurers.

PIC's losses with Steinhoff ‘regrettable'

FORMER head of Public Investment Corporation (PIC) Dr Dan Matjila has lamented the PIC's investment with global retail company Steinhoff, saying the losses incurred in the deal were "significant and regrettable". He added that he took full responsibility for them. Matjila said during his tenure at PIC, the state-owned asset manager was provided with an opportunity to buy 3.5% of shares in Steinhoff that carried special voting rights.

Only a minute number of women are chief executives report finds

JOHANNESBURG Only 3.31percent of chief executives of JSElisted companies are women in the year to April 2019 a report by PricewaterhouseCoopers (PwC) has shown.If one looks at the composition of the top leadership at JSElisted companies the statistics paint a dim picture the report titled Executive directors: Practices and remuneration released yesterday said.Following Maria Ramoss retirement in February 2019 there were no female chief executives in the JSE top 40; however it is encouraging to see that Phuti MahanyeleDabengwa has recently been appointed as the chief executive of Naspers it said.Ramos stepped down in February as Absa chief executive after being at the helm of the group since 2009. Last week she was appointed as a director of the Public Investment Corporation board marking her first highprofile appointment since she left the bank.MahanyeleDabengwa was previously the chief executive of Shanduka Group until 2015 when it was sold to the Pembani Group. The PwC report said that the pay disparities between men and women chief executives was problematic citing the largest pay gaps were in the healthcare sector (28.1percent) followed by consumer discretionary (25.1percent) technology (22.9percent) and financials (21.8percent).The overall view of this JSE analysis paints a stark picture of the inequality in representation in companies listed on this stock exchange the report said.In terms of pay packages the median pay for all executive directors including chief executives chief financial officers and managing directors on JSElisted companies increased by 4.9percent in 2018 slightly above inflation which stands at 4.6percent.

WE'RE HIRING: Deputy production editor at Business Day

Here's your chance to join the team at one of SA's most innovative publishers Reporting to: Head of production Department: Business Day Location: Johannesburg Position overview Business Day is looking to hire an energetic, organised individual as Deputy Head of Production for Business Day. We're looking for someone who has a solid track record in journalism production, who will work well in a team, and is able to work across all of Business Day's platforms. The ideal candidate would particularly need extensive experience in print production, having a flair for page design, as well being a solid, accurate and fast copy editor, including being a stickler for details and accuracy. Main responsibilities and outcomes Liaise with pagination Assign pages and/or copy Produce and sub-edit the front page of the newspaper Sign off on the rest of print product in accordance with design style and demands for fairness and accuracy Monitor the flow of digital copy Ensure superb sub-editing for print and digital, using the correct content management system Ensure production journalists sub/produce at least 15 reports per shift Ensure adequate supply of digital copy (150 items per day) Ensure production journalists meet deadlines Ensure digital content is enhanced as required Errors - in terms of grammar, spelling, style and relating to fact - are minimised Overseeing legal and ethical issues in copy Revise content where required Ensure metadata is relevant and accurate Ensure print deadlines are met Make certain speed is considered for both web and print Minimum qualifications and requirements At least seven years' experience in journalism production; A relevant degree/diploma; A track record of accurate, fast and factually correct editing; A track record of managing a team of production journalists; Wide general knowledge, specifically related to business, the markets, politics and economics, and an excellent grasp of current affairs.

Allegations about dealings with SA Home Loans are malicious — Matjila

Wednesday marked the seventh day of former Public Investment Corporation (PIC) chief executive Dan Matjila's testimony at the commission looking into alleged impropriety at the state asset manager. Matjila has denied allegations made by a variety of witnesses who flagged him in questionable deals between the PIC and various companies including Ascendis Health, S&S Refinery, Steinhoff and Lancaster. On Wednesday, Matjila continued denying any wrongdoing, this time in the transaction between the PIC and mortgage finance company, SA Home Loans.

Send in the troops: Congo raises the stakes on illegal mining

DAKAR (Reuters) - A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya, which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources.

Barrick's Kibali on target for 750,000 oz gold output in 2019

BARRICK Gold said its Democratic Republic of Congo (DRC) gold mine, Kibali, which it owns in joint venture with AngloGold Ashanti, was on course for production of 750,000 ounces in the current financial year. However, Barrick CEO, Mark Bristow, continued to express concern about the newly promulgated DRC mining code which he said would put investment in the country "at risk". The code, which was signed into law by former DRC president, Joseph Kabila, just over a year ago, removes a clause that protected miners from changes to the fiscal and customs regime for 10 years.

MTN engages Comp Commission Eliovect cries foul

MTN says it is actively engaging with the Competition Commission regarding a complaint launched by empowerment consortium Eliovect.The consortium alleges unfairness meted out on small businesses in the prepaid airtime market by the operator as well as Cell C in favour of the latters majority shareholder Blue Label Telecoms.The PanAfrican mobile operator and Cell C are being investigated by the Competition Commission for allegedly hindering fair competition in the prepaid airtime space by giving Blue Label favourable terms that do not apply to black service providers. The complaint says black service providers cannot buy directly from mobile network operators.Jacqui OSullivan executive for corporate affairs at MTN tells ITWeb: As this is an ongoing investigation we prefer not to comment on the content of the investigation or to speculate on any potential outcome as we believe it best to allow the process to run its course. We will continue to assist the commission in any way it might require.OSullivan could not be drawn to discuss specific allegations levelled against MTN by Eliovect.Cell C hadnt responded to a request for comment by the time of publication.The allegations being probed against MTN and Cell C includes that 10 companies that are competition to Blue Label have a minority market share because of Blue Labels dominance.The 10 companies listed at the commission are PAV Bulk Airtime Distributor Freepaid ERZ Telecoms Five Rand Thetha Thetha Del Cell Glocell Smartcall Crown Service Provider Company and Ubuntu Telecoms.Sello Phakoe chairman of the black economic empowerment consortium says: I have been advised that these competitors hold a small fraction of the market share and do not receive the same terms as Blue Label.Phakoe also alleged in his documents that after lodging the complaint with the Competition Commission MTN decided to no longer negotiate a contract that had initially been agreed upon by both parties.In a letter dated 24 May 2018 from MTN to Eliovect seen by ITWeb MTN

Send in the troops - Congo raises the stakes on illegal mining

DAKAR - A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga , an official in Kafwaya, which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources.

Laffor happy with bit-part role at Sundowns

In the past two seasons Anthony Laffor has played fewer than 20 games in both campaigns for Mamelodi Sundowns and he has accepted the role of being a cameo player for Pitso Mosimane's side as he enters his eighth season with the defending Absa Premiership champions. At this point, the 34-year-old does not seem to be bothered much about starting games but insists he has to train twice as hard to be at his best whenever he is called upon. "I am not under any pressure to play every game.

Cycling 4 Mobility benefits from races

THE 2019 Sappi Scottburgh MTB and Trail Run Weekend on 20 and 21 July will channel its energy into the Cycling 4 Mobility charity that has done a huge amount in donating wheelchairs to needy recipients in rural areas of KwaZulu-Natal since its inception in 2012. Flavio Scarpa, one of the founders of Cycling 4 Mobility and Scottburgh MTB Race organiser, said: "We try and single out people that need chairs for specific reasons. We found that just giving basic chairs didn't really help as many people as we thought, so the focus is far sharper now." Going into this year's event, the races have also teamed up with the South African QuadPara Association of South Africa and will have member Jodie Kroone present to hand out the prizes at the prize-giving.

Henley Business School: Call for Applications - Free Consulting for NGOs in Cape Town

Free Facilitation & Consulting for NGOs in Cape Town Henley Business School (UK) is extending an invitation to NPOs, NGOs, NFPs, CBOs and PBOs in Cape Town to participate in an Executive MBA programme aimed at assisting Organisations improve their relationships with their stakeholders. Every year, Henley Business School (UK) sends their Executive MBA students to Cape Town for one week to embark on a consulting project aimed at assisting Civil Sector Organisations. The programme is provided absolutely free, all costs will be met by Henley Business School (UK).

Minerals dept issues Section 11 approval for BRPM stake transfer

The Department of Mineral Resources has granted a Section 11 approval for the transfer of Rustenburg Platinum Mine's (RPM's) 33% undivided interest in the mining rights attributable to the Bafokeng Rasimone Platinum Mine (BRPM) joint venture to Royal Bafokeng Platinum (RBPlat). RPM, a wholly owned subsidiary of Anglo American Platinum, in July 2018 accepted a R1.8-billion offer from RBPlat for the 33% interest in BRPM. With the Section 11 approval, all conditions for the transfer of all BRPM mining rights to RBPlat have been met.

FAMOUS BRANDS LIMITED - CANCELLATION OF S417611 Dealing in Securities

FBR 201907170021A CANCELLATION OF S417611 Dealing in Securities FAMOUS BRANDS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1969/004875/06) JSE Share code: FBR ISIN code: ZAE000053328 (‘the Company' or ‘Famous Brands') DEALINGS IN SECURITIES In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited (‘JSE'), shareholders are advised of the following off market transaction by a director in the Company's securities. Name of director: Mr J Halamandres Class of securities: Ordinary shares Nature of transaction: Transfer of shares to a relative as a gift Date of transaction: 12 July 2019 Number of securities: 5 000 Price per security: Nil value Transaction value: R443 300.00 based on a deemed value of R88.66 per Famous Brand share Nature and extent of director's Direct beneficial interest: Midrand 16 July 2019 Sponsor The Standard Bank of South Africa Limited Date: 17/07/2019 12:14:59 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (‘JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS..

Carbon tax: too little for environmentalists; too much for business

The tax, introduced in June, is considered too weak at its current level by some, but mines and unions are more worried about job losses SA's new carbon tax has provoked a storm of criticism from environmental campaigners who say it is too weak, and from industry that predicts it will cause mass job losses. The new tax, the first of its type in Africa, was cautiously introduced in June in the first of several gradual steps and is scheduled to come into full force in three years' time. The tax has been planned for almost a decade, but was delayed as the country struggles to boost economic growth while also being the 14th largest polluter in the world, according to Greenpeace. Canada, France, Colombia and Sweden all have carbon taxes, with the World Bank saying a total of 46 countries now have such levies or similar schemes in place or scheduled for implementation. The tax puts a price on releasing greenhouse gases from fuel combustion and industrial processes as countries work to meet the global climate change targets negotiated in Paris in 2015. In SA, environmental groups such as the World Wildlife Fund (WWF) have hailed the new tax as "a significant first step", but say it is far too weak at its present level.

MIDEAST STOCKS-Banks aid Qatar, Abu Dhabi; other Gulf markets mixed

* Commercial Bank earnings boost Qatar * Emaar Properties drag down Dubai * Dubai Islamic Bank up on Q2 profit * Kuwaiti stocks optimistic on MSCI decision By Ateeq Shariff July 17 (Reuters) - Middle East stock markets were mixed on Wednesday with Qatar and Abu Dhabi rising on financial stocks, while property stocks weighed on Dubai. Qatar's index edged up 0.1% with Commercial Bank rising 1.9% after the lender recorded a net profit of 934.1 million riyals ($256.62 million) in the first-half of 2019, versus 855.1 million riyals a year earlier. In Kuwait, the index for the premier market, home to the largest and most liquid companies, rose 0.2%. It has been boosted by MSCI's decision to move Kuwaiti equities to its main emerging-market index in 2020 and is up more than 28% this year, outperforming its Gulf peers. In Abu Dhabi, the market rebounded 0.1%, after shedding in early trading, on the back of its top gainer National Bank of Fujairah, which soared 10.9%, and Emirates Telecommunications, which was up 0.1%. Saudi Arabia's main index traded flat after rising for seven straight sessions following EFG Hermes forecast profit for the kingdom's financial sector would grow 7.6% in the second quarter. Saudi Telecom rose 0.9%, and Saudi Arabian Mining Company closed 1.9% higher. Egypt's blue-chip index fell 0.6% as most of its shares turned red, with the country's largest lender Commercial International Bank shedding 0.9%. Exchange data on Wednesday showed Egyptians and Arabs were net sellers of Egyptian stocks. The Dubai index fell 0.2% pressured by its largest listed developer, Emaar Properties, which was down 1.2%. However, Dubai Islamic bank added 0.2% after it posted a higher second quarter profit, while Emirates NBD traded flat. The Emirate's largest lender rose as much as 1.8% during the day after reporting a 80% surge in second-quarter profit mainly thanks to asset sales and foreign exchange gains. SAUDI ARABIA The i

Urine-tot-kunsmis by Exxaro-gebou

Toe die eiendomsgroep Growthpoint en die steenkoolgroep Exxaro einde Junie gespog het oor die nuwe hoofkantoor wat Exxaro in Centurion betrek het, het hulle baie gesê oor die talle kenmerke van groenbou-ontwerp in die gebou van R600 miljoen..

Dan Matjila takes responsibility for PIC's Steinhoff losses

Former Public Investment Corporation chief executive Dr Dan Matjila has told the PIC commission of inquiry that he takes full responsibility for the corporation's losses in retail company Steinhoff. Eyewitness News senior reporter Barry Bateman says Matjila says almost all investors were duped by the company. RELATED: Dan Matjila says he takes full responsibility as the former chief executive of the PIC for the losses that were incurred there but he was questioned on exactly what were those loses, he could not tell the commission. He says it is regrettable what has happened but he says at the time leading up to the collapse in 2017, Steinhof was the darling of the market.

Lockmaker Assa Abloy wary on some markets as savings lift Q2 profit

* Q2 EBIT 3.7 bln SEK vs consensus 3.7 bln * Q2 core sales up 3% vs year-ago 5% * Q2 electromechanical locks sales up 20% * Shares up 4% * (Adds CEO, analyst comment, background, updates shares) By Anna Ringstrom STOCKHOLM, July 17 (Reuters) - Assa Abloy, the world's biggest lock maker, reported a 28% jump in quarterly profit as savings and price hikes offset higher raw material costs but said uncertainty had increased in some markets such as Brazil, Mexico and Britain. The acquisitive Swedish firm is investing in accelerating a shift from mechanical locks to electronic and digital alternatives ranging from fingerprint scanners to smartphone-activated systems under brands such as Yale. The company, which has more than doubled sales over a decade and outgrown rivals in a fragmented market, said on Wednesday operating profit grew in the second quarter to 3.7 billion crowns ($397 million), matching analysts' mean expectations. This compares with 2.9 billion crowns a year ago, before large one-off costs related to a strategic review in China. "It is encouraging to see how cost efficiency in everything we do is driving results," Chief Executive Officer Nico Delvaux Delvaux said. During the second quarter our efficiency programs and other savings generated more than 200 million in efficiencies." The company didn't provide a corresponding figure for Q1. Delvaux told analysts on a call that he expected price increases and cost savings to more than compensate in the second half for higher U.S. import tariffs and other cost inflation. Shares in Assa Abloy, whose range also includes security doors, access control systems and hotel room locks, were up 3.2% at 1207 GMT, taking year-to-date gains to 41%.

Implats takes steps to strengthen its balance sheet through an early conversion of its USD convertible bonds

IMPLATS TAKES STEPS TO STRENGTHEN ITS BALANCE SHEET THROUGH AN EARLY CONVERSION OF ITS USD CONVERTIBLE BONDS Johannesburg, 17 July 2019 - Impala Platinum Holdings Limited (Implats or the Group) has today announced an invitation to the holders of its USD250 million 3.25% convertible bonds due in 2022 (USD Bonds) to exercise their conversion rights. In terms of this invitation, bond holders will receive by way of consideration a cash payment, and shares in Implats in accordance with the terms of the USD Bonds. The optimisation of Implats' balance sheet through a reduction and restructuring of existing debt is a key pillar of its strategy to reposition as a profitable, sustainable and competitive business with clear capital allocation priorities and ultimately, a return to a dividend paying position.

BBC: String of new initiatives announced by the Minister of Small Business Development can grow the SMME sector

A string of new initiatives, as announced by the Minister of Small Business Development, Khumbudzo Ntshavheni, during her budget speech this week, will go a long way in growing the SMMEs sector in the country. Initiatives, such as, blended finance (mix of grants and loans) to be introduced and offered by the Small Enterprise Finance Agency (SEFA), will go a long way in assisting Small, Medium and Micro-sized Enterprises (SMMEs) with own contribution, otherwise known as skin in the game, as this constitutes one of the biggest impediment for black entrepreneurs. "We have a vested interest in the success of the department as more than 70% of our members are falling within SMMEs.

The Imminent Reality of Cyberattacks for Business

Zamani Ngidi, Principal Cyber Risk Consultant at Aon South Africa. No longer an if, but when a business will experience a cyber attack Participants in Aon's 2019 Global Risk Management Survey ranked cyberattacks and data breaches as #6 in the top 10 risks facing organisations today. The risk entered the Top 10 list for the first time (at #9) in 2015 and is projected to go from #6 to #3 in the next three years.

AI and business - are you ready for this?

Artificial Intelligence (AI) has the power to change the way in which we work, play, and interact with everyone and everything around us. Pommie Lutchman, CEO and founder of Ocular Technologies asks if your business is ready for the shift. One of the distinct advantages of AI is the ability to ingest unstructured data, be it text, imagery, video or more.

Ed's Note: ESI markets across the world have one thing in common

Featured image: Stock Do you believe that African countries are not keeping pace with the changing electricity supply industry (ESI) dynamic?  Originally published in the ESI Africa weekly newsletter on 2019/0 7/17 This year I'm honoured to be part of the judging panel for The Global Power & Energy 2020 Elites , and going through the nominations has been an eye-opener. Innovation is not the sole domain of developed regions, as the nominations come from across the globe. Each project provides a clear message: how we generate energy and how we use power is undergoing remodelling.

UPDATE 1-South Africa's rand softer ahead of rate decision, stocks slide

(Adds latest prices, analyst quote) JOHANNESBURG, July 17 - South Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. At 1500 GMT the rand ZAR=D3 was 0.14% weaker at 13.9800 per dollar, inching closer to the 14.00 mark that has in recent times determined the momentum of the currency either direction.South Africa's central bank meets on Thursday. According to a Reuters poll last week, it is set to cut interest rates by 25 basis points, while forward rate markets on Wednesday showed investors pricing in a close to 40% probability of a cut by that margin. While a cut might reduce the rand's carry-trade advantage, the impact on the currency could be limited by expectations the Federal Reserve will also cut rates, on July 31. The rand had managed to withstand the greenback's recovery in the last two sessions and in early trade on Wednesday touched a session-best 13.9425, aided in part by a solid retail sales print boosting bets the economy would avoid a second consecutive quarterly contraction. as traders in New York came online later in the session the rand stalled, with dollar bulls emboldened by better-than-expected data on U.S.

Business Maverick: Rescue, Rehabilitate, Release - the story of a rhino orphaned by poaching

Hoedspruit Endangered Species Centre (HESC) has for the first time, successfully released two rhino orphaned from poaching. As the gates opened, and the tentative pair crossed the threshold into the reserve, the magnitude of the moment became apparent. Tears and laughter were shared as Gertjie and Matimba were given a second chance at life, and procreation..

INVESTEC LIMITED - Transactions in Investec PLC ordinary shares

Transactions in Investec PLC ordinary shares Investec Limited Investec plc Incorporated in the Republic of South Africa Incorporated in England and Wales Registration number 1925/002833/06 Registration number 3633621 JSE share code: INL LSE share code: INVP NSX share code: IVD JSE share code: INP BSE share code: INVESTEC ISIN: GB00B17BBQ50 ISIN: ZAE000081949 As part of the dual listed company structure, Investec plc and Investec Limited (together "Investec") notify both the London and Johannesburg Stock Exchanges of those interests (and changes to those interests) of (i) directors of both entities and the respective company secretaries, (ii) persons discharging managerial responsibilities ("PDMRs") and persons closely associated with them, and (iii) in certain instances the directors of major subsidiaries of Investec Limited, in the securities of Investec plc and Investec Limited which are required to be disclosed under Article 19 of the Market Abuse Regulation (Regulation 596/2014), the Listing Rules, and the Disclosure Guidance and Transparency Rules of the United Kingdom Listing Authority (the "UKLA") and/or the JSE Listing Requirements. TRANSACTIONS IN INVESTEC PLC ORDINARY SHARES OF GBP0.0002 EACH (THE "INVESTEC PLC ORDINARY SHARES") 1 Details of the person discharging managerial responsibilities / person closely associated a) Name David van der Walt 2 Reason for the notification a) Position/status PDMR b) Initial notification /Amendment Initial notification 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name Investec plc b) LEI

MTN appoints new chief digital and fintech officer

MTN has announced that it has appointed Yolanda Cuba as group chief digital and fintech officer. Yolanda will join the MTN group executive committee reporting to MTN CEO Rob Shuter. In this role, she will lead MTN's expansion of its financial services and digital transformation. Cuba previously held the roles of chief strategy officer at Vodacom and CEO of Vodafone Ghana, where she was named Telecom CEO of the Year in 2018. "We are very pleased to bring an executive of Yolanda's calibre into MTN Group," said MTN CEO Rob Shuter. "Yolanda is a highly qualified and experienced executive, with a unique combination of operational telecommunications experience as well as finance, financial services and digital skills.".

South Africa's rand softer ahead of rate decision, stocks slide

IMPLATS:   7,010     -434 (-5.83%)   17/07/2019 00:00 (Adds latest prices, analyst quote) JOHANNESBURG, July 17 - South Africa's rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. At 1500 GMT the rand was 0.14% weaker at 13.9800 per dollar, inching closer to the 14.00 mark that has in recent times determined the momentum of the currency either direction. South Africa's central bank meets on Thursday. According to a Reuters poll last week, it is set to cut interest rates by 25 basis points, while forward rate markets on Wednesday showed investors pricing in a close to 40% probability of a cut by that margin. While a cut might reduce the rand's carry-trade advantage, the impact on the currency could be limited by expectations the Federal Reserve will also cut rates, on July 31. The rand had managed to withstand the greenback's recovery in the last two sessions and in early trade on Wednesday touched a session-best 13.9425, aided in part by a solid retail sales print boosting bets the economy would avoid a second consecutive quarterly contraction. But as traders in New York came online later in the session the rand stalled, with dollar bulls emboldened by better-than-expected data on U.S. jobs, inflation and retail sales in previous sessions. The mood across emerging markets was not helped by a threat by U.S.

Former Vodafone Ghana CEO joins MTN

Yolanda Cuba joins operator as group chief digital and fintech officer. The MTN Group has appointed Yolanda Cuba as group chief digital and fintech officer. Cuba will join the group's executive committee, where she will lead its financial services and digital solutions expansion and oversee its digital transformation.

Expert: Global investors KNEW Steinhoff was about to crash, so why didn't SA investors?

When the Steinhoff share price crashed in late 2017, its demise shattered portfolios across South Africa's investment landscape. Yet, many global investors knew the multinational retailer's stock price was about to plummet. According to respected stock analyst Ryk de Klerk , not far off half of Steinhoff's Johannesburg shares and about 10% of its Frankfurt shares were on loan to short sellers - and then Markus Jooste resigned as CEO .

Business Book: Pitch To Win by Justin Cohen

Pitch to Win by Justin Cohen Photo: Justin Cohen How to present, persuade and close the deal Being the best doesn't guarantee you'll get the business . Having the best pitch does. Whether you're looking for clients, investors or employees, you need to know how to pitch your products, services and ideas.

MTN Group: Yolanda Cuba to join MTN as Group Chief Digital and Fintech Officer

MTN Group today announces the appointment of Yolanda Cuba as Group Chief Digital and Fintech Officer. Yolanda will join the MTN Group Executive Committee reporting to the Group CEO Rob Shuter. In this role Yolanda will lead the Group's strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator.

Nederburg verwelkom gesoute nuwe keldermeester

Die gesoute en bekroonde wynmaker, Lizelle Gerber, sluit op 1 Augustus by Nederburg Wines buite die Paarl aan as keldermeester. Read it in English. Nederburg, een van Suid-Afrika se bekendste en mees vooraanstaande wynhandelsmerke, vorm deel van die nuutgestigte Libertas Vineyards and Estates, Distell se onafhanklike maatskappy vir premiewyne.

Rand softer ahead of rate decision, stocks slide

The rand had managed to withstand the greenback's recovery in the last two sessions and in early trade on Wednesday touched a session-best R13.9425, aided in part by a solid retail sales print boosting bets the economy would avoid a second consecutive quarterly contraction. | JOHANNESBURG - The rand edged lower on Wednesday in cautious trade ahead of an interest rate decision that is set to test the currency's recent rally and its ability to draw yield-seeking investors. At 1500 GMT, the rand was 0.14% weaker at R13.9800 per dollar, inching closer to the R14.00 mark that has in recent times determined the momentum of the currency either direction. South Africa's central bank meets on Thursday. According to a poll last week, it is set to cut interest rates by 25 basis points, while forward rate markets on Wednesday showed investors pricing in a close to 40% probability of a cut by that margin. While a cut might reduce the rand's carry-trade advantage, the impact on the currency could be limited by expectations the Federal Reserve will also cut rates, on 31 July. The rand had managed to withstand the greenback's recovery in the last two sessions and in early trade on Wednesday touched a session-best R13.9425, aided in part by a solid retail sales print boosting bets the economy would avoid a second consecutive quarterly contraction. But as traders in New York came online later in the session the rand stalled, with dollar bulls emboldened by better-than-expected data on US jobs, inflation and retail sales in previous sessions. The mood across emerging markets was not helped by a threat by US President Donald Trump to put tariffs on another $325 billion of Chinese goods. Government bonds were flat, with the yield on the benchmark 2026 instrument was at 8.025%. On the bourse, stocks fell alongside emerging market assets amid resurfacing worries over the U.S-China trade conflict. The benchmark JSE Top-40 Index was down 0.76% at 51,565 points while the broader All-Share Index dropped 0.83% to 57,

MTN appoints new Chief Digital and Fintech Officer

MTN Group has appointed Yolanda Cuba as Group Chief Digital and Fintech Officer. Cuba will join the MTN executive committee and will report to the Group CEO Rob Shuter. In this role, she will lead the Group's strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator, the company said.

MTN names Vodacom exec chief digital fintech officer

MTN Group has appointed Vodacoms chief officer of strategy and M&A Yolanda Cuba as group chief digital and fintech officer.In a statement the mobile operator says Cuba will join the MTN Group executive committee reporting to the Group CEO Rob Shuter.In this role she will lead the groups strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator says the company.It notes that Cuba brings extensive telecommunications and leadership experience to MTN Group. She joins MTN Group from Vodacom where she served as chief officer of strategy and M&A it points out.She was previously the CEO of Vodafone Ghana for a threeyear period a role that saw her named Telecom CEO of the Year in 2018.This role gives me the opportunity to drive digital innovation and financial inclusion across the groups vast footprint. Im really looking forward to the new challenge and being part of the MTN leadership team says Cuba.Shuter says: We are very pleased to bring an executive of Yolandas calibre into MTN Group.

Former Vodacom Ghana boss Yolanda Cuba moves to MTN

MTN wants digital and fintech to make up at least 15% of revenues over the next few years MTN, Africa's biggest mobile operator, on Wednesday announced the appointment of former Vodacom Ghana CEO Yolanda Cuba as group chief digital and fintech officer, as the company continues its push to diversify its revenue base beyond the voice business. Cuba will lead the strategic expansion of MTN's financial services and digital solutions effort as well as its transformation into a digital operator, the company said. Last week, group CEO Rob Shuter told Business Day MTN is positioning itself for a future in which its voice business will no longer be its bread and butter. MTN makes about 59% of its revenue from voice, a number set to decline as people increasingly switch to internet services such as Skype, WhatsApp and Facetime to make voice calls.

Hyprop aims to sell older assets but retain crown jewels

Hyprop Investments, the company that is considering hiving off its older assets as it tries to turn its operations around in a difficult environment, plans to keep its crown jewels. Hyprop has long been considered one of the JSE's real estate darlings, having built up a portfolio of some of SA's best blue-chip malls — including The Mall of Rosebank, Clearwater, Cape Gate, Somerset Mall and Canal Walk — since it listed in 1988. But the share price of the company, which has a market capitalisation of R18.55bn, has plunged 46.95% on a three-year-basis as it has had to operate in a weak local environment where it has given some national tenants rental reductions while weak consumer spending growth persists. It also participated in the bailout of Edcon by taking a stake in the retailer and decreasing its rent.

Time to invest in exchange traded funds?

Managing your own portfolio has possibly never been harder with the JSE experiencing its fair share of companies with skeletons from Pembury, to Ayo to Tongaat. Is it time to invest in exchange trade funds and if so how do you separate the wheat from the chaff? To find out CNBC Africa's Fifi Peters is joined by Chris Rule, Head of Products and Client Solutions at Coreshares and Mike Brown, Managing Director, etfSA.co.za..

Need a loan to grow your small business? There's a pot of money waiting

We provide loans [to small businesses]. We do not invest in them… Our average loan size is about R4 million… We don't fund ideas. We fund a business that is already doing something viable, and they need capital to grow… There is more money than there are viable deals… People are not presenting themselves well… Spartan SME Finance provides finance for small businesses. Earlier in the year, it got R100 million from the SA SME Fund to bolster its R600 million kitty. Spartan ringfenced half of the funding it got from the SA SME Fund Half for black African owned businesses. Discovery CEO Adrian Gore and former Bidvest Chairperson Brian Joffe founded SA SME Fund. Forty-eight JSE-listed companies bankrolled the Fund with R1.4 billion. The Money Show's Bruce Whitfield interviewed Kumaran Padayachee, CEO at Spartan SME Finance for his weekly "ShapeShifter" feature. Listen to the interview in the audio below (and scroll down for more quotes from it). We really scrutinise them very intensely, but very fast… They find us.

Anglo American Zimele a bold approach to community business development

Anglo American's Zimele head discusses her career and how the company is reaching its goals. In this week's executive or business leader special, Nompu Siziba speaks with Larisha Naidoo, who is heading up Anglo's Zimele division. The division assists the mining company in empowering community members in the areas it has operations in.

Need a loan to grow your small business? There's a pot of money waiting

We provide loans [to small businesses]. We do not invest in them… Our average loan size is about R4 million… We don't fund ideas. We fund a business that is already doing something viable, and they need capital to grow… There is more money than there are viable deals… People are not presenting themselves well… Spartan SME Finance provides finance for small businesses. Earlier in the year, it got R100 million from the SA SME Fund to bolster its R600 million kitty. Spartan ringfenced half of the funding it got from the SA SME Fund Half for black African owned businesses. Discovery CEO Adrian Gore and former Bidvest Chairperson Brian Joffe founded SA SME Fund. Forty-eight JSE-listed companies bankrolled the Fund with R1.4 billion. The Money Show's Bruce Whitfield interviewed Kumaran Padayachee, CEO at Spartan SME Finance for his weekly "ShapeShifter" feature. Listen to the interview in the audio below (and scroll down for more quotes from it). We really scrutinise them very intensely, but very fast… They find us.

Yolanda Cuba joins MTN as group chief digital and fintech officer

MTN Group on Wednesday announced the appointment of Yolanda Cuba as group chief digital and fintech officer, joining its group executive committee and reporting to the group CEO Rob Shuter. Cuba will lead the group's strategic expansion of its financial services and digital solutions efforts and transformation into a digital operator. MTN said in a statement that Cuba had extensive telecommunications and leadership experience, coming from Vodacom, where she was chief officer of strategy and M&A.

Technology, cyber risk dominate SA insurers' business risks - report

JOHANNESBURG - Technology and cyber crime are among the biggest concerns for insurers across the globe, professional services company PwC said on Wednesday, citing an annual survey which included 28 responses from South African firms. The report by independent think tank Centre for the Study of Financial Innovation in association with PwC polled over 900 insurance practitioners and industry observers in 53 countries, to find out where they saw the greatest risks over the next two to three years. South African respondents said weak economic growth, low disposable income and persistent high unemployment levels were significant contributing factors, said Victor Muguto, long-term insurance leader for PwC Africa.

How cloud computing is changing the business world

A cloud summit conference last week illustrated the dramatic way the cloud can transform an organisation's capacity. What do the movies have in common with banks? Aside from the billions of rands and dollars that flow through both industries, they seem worlds apart. Yet, in the world of cloud computing, they are suddenly close neighbours.

Experian: Core business in "rude health" - Barclays

** Barclays raises price target on the world's biggest credit data company Experian Plc by 100 pence to 2500 pence ** Co, on Tuesday, reported a 4% rise in Q1 revenue, benefiting from higher business across automotive, health, business credit and decision analytics segments in North America, its largest market ** "An 'in-line' Q1 print shouldn't overshadow several underlying growth positives, (like) growth in B2B surprised positively in both the U.S. & UK despite tougher comps, indicating that the core business is in rude health," analysts at Barclays say in a note ** Shares of Experian were up 1% at 2,415 pence (Reporting by Justin George Varghese in Bengaluru) 2019-07-17 13.

Send In The Troops: Congo Raises The Stakes On Illegal Mining

A Congolese army officer arrived in the village of Kafwaya in June and warned residents not to trespass on a major Chinese copper and cobalt mine next door. As night fell about a week later, the soldiers moved in. "They didn't say anything to anyone," said Fabien Ilunga, an official in Kafwaya, which is home to thousands of miners eking out a living by illegally exploiting the nearby mineral resources.

Customer shot in Isipingo armed business robbery

The widespread crime in Isipingo continued unabated when three ruthless suspects armed with a firearm and knives attempted to rob a store in the Isipingo CBD and shot a customer before fleeing empty-handed, on Saturday. Alpha Alarms Response Units responded hastily to the scene after receiving a panic alarm. The suspects had however fled on foot into the busy CBD and dispersed into the thronging crowd.

U.S. complains after Russia denies visas to embassy school teachers

MOSCOW (Reuters) - The United States accused Russia on Wednesday of using children as pawns, after Moscow rejected visas for dozens of new teachers at an English-language school set up by the U.S., British and Canadian embassies in Moscow for the children of diplomats. U.S. ambassador Jon Huntsman said 30 teachers who had been due to arrive in Moscow next month had been denied visas, a move he said could force Moscow's Anglo American School to cut the number of children attending.

Swatch shares jump as it highlights uptick in main markets

The maker of Longines, Omega and Tissot watches expects to reverse a first-half sales fall to post positive sales growth for the year Zurich — Swatch Group shares surged 5% after mid-year results on Wednesday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales. The maker of Longines, Omega and Tissot watches said it expected to reverse a first-half sales fall to post positive sales growth for 2019. The news was a tonic for shareholders who have been gloomy about the prospects for the watchmaker amid concern the US-China trade war could hurt demand for luxury products. "The Swatch Group anticipates strong growth in the second half of 2019 … due to continuing solid demand in the most important markets, and … due to the fact that the second half of 2018 was characterised by a poor fourth quarter," it said. The company has been carrying out "uncompromising actions" — against grey market dealers in Europe, the Middle East and South America in 2019. The offensive against watches that are sold outside Swatch's approved channels had a negative impact on sales in the first half running into the hundreds of millions of francs, the company said. The campaign involved Swatch halting supply of watches to dealers who sold their products to the grey market.

SA's Retrenchment Burst is Challenging, But Consumers Can Still Protect Themselves

Nkazi Sokhulu, co-founder and Chief Executive Officer at Credit Life Insurance brand Yalu Credit Life Insurance covers a borrower's debts in case of retrenchment, death or disability. It's an essential insurance product in challenging economic times, but consumers should be aware that not all policies are the same, and that some cost a lot more than others... South Africa's economy is struggling, and every week the media features coverage of new rounds of retrenchments across different industries.

Vodacom Loses ‘CEO in Waiting'

Yolanda Cuba. Image source - Instagram A top executive who joined Vodacom just five years ago is leaving the mobile phone group, TechFinancials has learned. Yolanda Cuba, the Chief Officer of Strategy and M&A of Vodacom Group, has tendered her resignation with immediate effect, a source familiar with her exit told TechFinancials on Tuesday.

Amplats completes disposal of 33% stake in Bafokeng Rasimone mine

JOHANNESBURG  Anglo American Platinum (Amplats) said on Wednesday it had completed the disposal of its 33 percent holding in the  Bafokeng Rasimone Platinum Mine (BRPM) jointventure after the department of mineral resources granted approval.The disposal is the culmination of a deal entered into in December by Amplats whollyowned subsidiary Rustenburg Platinum Mines (RPM) and Royal Bafokeng Platinums Royal Bafokeng Resources.The agreement stipulated that Royal Bafokeng Resources would in a twophased transaction acquire the balance of the 33 percent interest in the BRPM joint venture from RPM including full title in respect of all assets owned by RPM.On Tuesday Amplats said basic earnings for the six months to June 30 were impacted by an impairment of R0.6 billion posttax relating to the disposal of its holding in the BRPM joint venture. Anglo American Platinum (Amplats) said on Wednesday it had completed the disposal of its 33 percent holding in the Bafokeng Rasimone Platinum Mine. File photo: Supplied.

Business Maverick: Limited Liability of Big Tech Under the Microscope

The Senate Judiciary subcommittee hearing, led by Senator Ted Cruz of Texas, featured accusations Republicans have been making for months: that Google manipulates search results and its YouTube video service to censor conservatives. Google policy chief Karan Bhatia denied this and said it would be bad for business if users didn't trust the company to be impartial. What was new is that Cruz, fellow Republican Senator Josh Hawley and Democrat Richard Blumenthal attacked part of a 1996 law that helped internet companies thrive.

Business Maverick: US to Withhold F-35 Fighters From Turkey

The decision to cancel the advanced F-35 stealth jet fighters shipment was expected, but until Mr Trump's remarks on Tuesday, the administration had held off on responding to Turkey's decision to accept delivery of the Russian S-400 system. Turkey's action and the U.S. response inject tension and uncertainty into the 67-year security pact between Turkey and other NATO members.

UPDATE 4-Mexico unveils Pemex business plan, but banks underwhelmed

(Recasts; adds comments, details) By Adriana Barrera and Ana Isabel Martinez MEXICO CITY, July 16 (Reuters) - Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world's most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed to dispel worries of a ratings downgrade. Octavio Romero, CEO of Petroleos Mexicanos, or Pemex , presented the broad outlines of the 200-page plan at a news conference, saying a complete version would be published later on Tuesday. Romero said the plan addressed an onerous profit-sharing tax that hands much of the company's income to the federal government and makes the company financially unsound.

Mexico unveils Pemex business plan, but banks underwhelmed

(Recasts; adds comments, details) By Adriana Barrera and Ana Isabel Martinez MEXICO CITY, July 16 (Reuters) - Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world's most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed to dispel worries of a ratings downgrade. Octavio Romero, CEO of Petroleos Mexicanos, or Pemex , presented the broad outlines of the 200-page plan at a news conference, saying a complete version would be published later on Tuesday. Romero said the plan addressed an onerous profit-sharing tax that hands much of the company's income to the federal government and makes the company financially unsound. He said the tax will be reduced by 11 percentage points to 54% by 2021. A version of the full document reviewed by Reuters said that would represent a saving for the company of $6.6 billion over the next two years. It also outlined the government's $7.2 billion of financial support over the next three years. The rest of the $104.6 billion Pemex said it will invest over the six-year term of President Andres Manuel Lopez Obrador will come from the company's own revenue, according to the document. By comparison, Brazil's Petrobras has said it aims to invest $105 billion over the next five years, and unload $35 billion in assets over the same period. The capital injections were "highly underwhelming," Citi Research said in a report, noting that by its own estimates Pemex needs $10 billion to $15 billion annually. "The probability of a downgrade to junk by Moody's has gone higher," Citi said, adding that it predicted such an action within the next six months. "The disappointing plan reinforces our view that Mexico is a slow deteriorating credit." Fitch downgraded Pemex's credit to speculative, or "junk," earlier this year while Moody's puts Pemex,

Australia's Port Hedland iron ore shipments to China jump 11% in June

SYDNEY, July 17 (Reuters) - Iron ore shipments to China from Australia's Port Hedland terminal rose more than 11% in June from a month earlier, port data released on Wednesday showed. Iron ore shipments to China from the world's biggest iron ore port totalled 42 million tonnes in June, compared with May's 37.8 million tonnes, the Pilbara Ports Authority said. Port Hedland is used by three of Australia's top four iron ore miners, BHP Billiton, Fortescue Metals Group and Gina Rinehart's Hancock Prospecting. (Reporting by Colin Packham Editing by Paul Tait) 2019-07-17 02.

State pensions boss: Deceitful PIC had no right to give Survé our R4.3bn

On Monday, while most SA news-focused eyes were on Jacob Zuma at the Zondo Commission in Johannesburg, something equally riveting went down across the Jukskei. Star witness at the Mpati commission was Abel Sithole, who since April 2015 has headed the Government Employees' Pension Fund. Sithole's post carries huge responsibility.

GLOBAL MARKETS-Asia shares slip, dollar gains as sterling slides

* Asian stock markets : https://tmsnrt.rs/2zpUAr4 * Nikkei off 0.3% early, Asia markets modestly lower * U.S. retail sales strong, but market still set on Fed cut * Dollar gains as sterling stricken by hard-Brexit fears * Oil prices slide on supply data, mixed messages on Iran By Wayne Cole SYDNEY, July 17 (Reuters) - Asian shares drifted lower on Wednesday after a lacklustre performance by Wall Street, while the dollar got a lift from robust U.S. retail data and a Brexit-driven dive in the pound. Oil prices also took a spill on hints U.S.

Business Maverick: A R1.2bn pot of toxic soup at EOH

Eight people. That's all. Eight people out of EOH's staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017.

16 July 2019.

Stephen Van Coller, CEO at EOH takes Bruce Whitfield through the group's corruption probe findings. Graeme Codrington, Futurist and Partner at TomorrowToday looks how the first moonlanding changed the world and the new crop of billionaire explorers such as Elon Musk, Richard Branson and Jeff Bezos..

Business News - 16 July 2019

Denials in Zuma's second day before the Zondo Commission, ENSAfrica unearths suspicious transactions at EOH and Amplats expects a jump in interim profit..

EOH uncovers R1.2 billion in dubious deals

A report by ENS has uncovered unsubstantiated payments, tender irregularities and other unethical business deals in public sector business. A forensic report into dodgy contracts at EOH has uncovered suspicious transactions worth R1.2 billion. These include unsubstantiated payments, tender irregularities and other unethical business deals in public sector business run from the group's head office and involving its EOH Mthombo subsidiary and a limited number of head office employees.

Amplats more than doubles earnings

Shareholders are in line for a bigger dividend as the group benefits from higher rand PGM prices and a recent restructuring. Anglo American Platinum has primed shareholders to expect a big increase in first-half earnings thanks to a rise in the rand price of platinum group metals. In a trading statement, the platinum group metals (PGMs) producer said headline earnings and headline earnings per share for the six months to end-June would be between 108% and 128% higher than those reported a year ago.

Ingenuity plans to delist

The company says it has not experienced material benefits from being on the and delisting will allow it to focus on its performance. Ingenuity Property Investments plans to buy out minority shareholders and delist from the JSE after deriving little value from its listing on the exchange. The Western Cape property developer has proposed paying shareholders R1.08 per share for their holdings, excluding a consortium of investors who currently hold 56% of its shares.

Cape Town releases forensic reports into its sale of land to Growthpoint

Maintains the deal was above board. The City of Cape Town is sticking to its guns that the controversial sale of ‘Site B' in the city's Foreshore area to JSE-listed Growthpoint Properties is all above board. Late on Monday the city released its forensic reports into the R86.5 million sale, which concluded that it "sold Site B at the correct permissible floor area" or development bulk of 175 00m². However, the same report raised concerns that poor record-keeping in its Planning and Building Development department could be behind the whole debacle. Pressure for reports to be made available The release of the reports comes in the wake of civil society groups and opposition political parties calling for them to be released to the public in recent weeks, after the city officials said no irregularities were found in the investigation.

16 July 2019.

:28 PM Stephen Van Coller, CEO at EOH takes Bruce Whitfield through the group's corruption probe findings. Graeme Codrington, Futurist and Partner at TomorrowToday looks how the first moonlanding changed the world and the new crop of billionaire explorers such as Elon Musk, Richard Branson and Jeff Bezos. .

Zimbabwe running out of bread as inflation tops 175%

(Also, read: Zimbabwe bans foreign currency, reigniting fears of hyperinflation) Zimbabwe's inflation rate skyrocketed to 175% in June, triggering traumatic memories of hyperinflation that erased most people's savings a decade ago. The country's statistics agency measured inflation at 97% in May. Millions of Zimbabweans have fled the country - many of them to South Africa - since the start its economic collapse in 2000.

Zimbabwe running out of bread as inflation tops 175%

(Also, read: Zimbabwe bans foreign currency, reigniting fears of hyperinflation) Zimbabwe's inflation rate skyrocketed to 175% in June, triggering traumatic memories of hyperinflation that erased most people's savings a decade ago. The country's statistics agency measured inflation at 97% in May. Millions of Zimbabweans have fled the country - many of them to South Africa - since the start its economic collapse in 2000.

Murex Business Analyst

Position Purpose: Manages the applications that integrate across business areas. Responsible for the systematic and methodical investigation, analysis and documentation of all or part of a business area in terms of business functions and processes, and the information they use across applications. Identifies and examines business needs and determines timely and effective solutions to business functions and processes.Acts as a bridge between the business and the IT development teams.

Mexico's markets weaken as Pemex plan underwhelms

(Updates prices) By Sruthi Shankar July 16 (Reuters) - A resurgent dollar piled pressure on Latin American currencies on Tuesday, with the Mexican peso leading losses as investors were disappointed by a new business plan for debt-laden oil firm Pemex. The peso fell over 0.6% after Pemex reiterated the government would reduce taxes on the world's most indebted oil company by some $7 billion over the next two years, injecting capital for a refinery and higher output. The much-awaited plan offered few new details, failing to excite investors who are worried about downgrades from credit rating agencies Moody's and S&P following Fitch's downgrade on its debt to junk in June.

Is Your Business a Painted Lizard or an Adaptable Chameleon?

The modern business landscape is shifting faster than ever before - from how companies are structured, to how they deal with their clients, to the markets they operate in. ‘Flexibility' and ‘Adaptability' are the keywords for successful 21st century business practise - and there are few creatures more flexible or adaptable than a chameleon. Meet Chameleon Skills. Consulting, Facilitation and Coaching Experts Chameleon Skills harness decades of experience in working with multinational companies to help equip businesses and their teams with the skills they need, in order to adapt to the constant shifts in their operational landscape.

GLOBAL MARKETS-U.S. retail sales data dents stocks, lifts Treasury yields

* U.S. retail sales data tops expectations * German investor morale survey worse-than-expected * Mounting ‘no-deal' Brexit worries weigh on pound (Updates with close of U.S. markets) By Chuck Mikolajczak NEW YORK, July 16 (Reuters) - A gauge of global equities lost ground on Tuesday and U.S.

LISTEN: The future of business management consulting after state capture

The consulting sector has been battered in recent years, as some of the world's top firms, including McKinsey and Bain & Co , were dragged into state capture scandals. The reputation of the world of business management consulting was also ruined. But what about the other players in the industry, smaller black consultancies that didn't enjoy as much of the fruits of that public spend we saw spewing out in 2009? Where are they and what shape is the industry today, asks POWER Business ‘ Ron Derby? He was in conversation with Derek Thomas, the CEO of Letsema Consultancy to speak about the state of the industry.

Business News - 16 July 2019

Denials in Zuma's second day before the Zondo Commission, ENSAfrica unearths suspicious transactions at EOH and Amplats expects a jump in interim profit..

BUSINESS MAVERICK: How to address Venezuela's crushing debt burden

When he finally leaves the political stage in Venezuela, Nicolás Maduro will leave behind a grim legacy of oppression, suffering and economic devastation. He will also leave a mountain of foreign-currency-denominated claims against the Venezuelan public sector - almost all of which is now in default - totalling more than $150-billion. --.

Matjila admits to meeting ministers to discuss PIC business

Former Public Investment Corporation (PIC) chief executive officer Dan Matjila has admitted to often meeting with ministers to discuss PIC business and insists there is nothing wrong with this. Matjila was responding to questions on Tuesday at the commission of inquiry. He testified about a meeting at the OR Tambo International Airport he was called to in 2017 by the former state security agency minister where he was introduced to two women and asked to help them.

The Healthy Business Show: Marketing: Building your brand

If you have a small business and don't have much to spend on marketing, how do you build a brand in an impactful way? Market research maestro and experienced entrepreneur, Musa Kalenga, started his first business at the age of 19. Hear what inspired him as he talks to Fred Roed about building a business and personal brand. A seasoned researcher, Musa believes your sales and research need to happen simultaneously.

EOH hit by state contract fraud; uncovers R1.2bn in suspicious transactions

Speaking in a webcast, Stephen van Coller announced that an internal probe had revealed that about eight people had been involved in a suspicious transaction totalling R1.2bn between 2014 and 2017. This article is exclusive to Biznews Premium. Members please login  here.

GLOBAL MARKETS-Stocks slip, U.S. yields rise on retail sales data

* U.S. Retail sales data tops expectations * German investor morale survey worse-than-expected * Mounting no-deal Brexit worries knock pound (Updates with open of U.S. markets, changes dateline; previous LONDON) By Chuck Mikolajczak NEW YORK, July 16 (Reuters) - A gauge of global equities edged lower on Tuesday and U.S.

GLOBAL MARKETS-Stocks slip, U.S. yields rise on retail sales data

* U.S. Retail sales data tops expectations * German investor morale survey worse-than-expected * Mounting no-deal Brexit worries knock pound (Updates with open of U.S. markets, changes dateline; previous LONDON) By Chuck Mikolajczak NEW YORK, July 16 (Reuters) - A gauge of global equities edged lower on Tuesday and U.S.

UPDATE 1-South Africa's rand inches weaker in wait-and-see session

(Adds latest prices, analyst comments) JOHANNESBURG, July 16 (Reuters) - South Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the U.S. central bank next week before making any big calls. At 1500 GMT the rand was 0.1% weaker at 13.9150 per dollar, hardly budging from the overnight close of 13.9025.

Primedia Outdoor Introduces Video Wall In Nigeria

Primedia Outdoor recently unveiled a new 3m x 12m LED video wall in Ikeja City Mall, the largest shopping mall in Lagos, Nigeria to continue the drive of bringing the best branding opportunities to the rest of Africa. Surrounded by over 100 stores and restaurants, this landscape LED video wall offers a powerful communication platform, allowing unlimited creative executions to boost key campaign messages to the shoppers in the mall. Located in the Shoprite concourse of the mall, this high-definition LED video wall has the opportunity to reach approximately 670,000 shoppers on a monthly basis (Hyprop Investments).

Is Your Business a Painted Lizard or an Adaptable Chameleon?

Directors, Veronica Wantenaar and Merlinda Abrahams. The modern business landscape is shifting faster than ever before - from how companies are structured, to how they deal with their clients, to the markets they operate in. ‘Flexibility' and ‘Adaptability' are the keywords for successful 21st century business practise - and there are few creatures more flexible or adaptable than a chameleon.

No one could detect Steinhoff irregularities - Matjila

Dan Matjila, former chief executive of the Public Investment Corporation, has said the asset manager was concerned with governance at Steinhoff, but no prudent investor would be able to pick up irregularities at the retail group. Matjila gave evidence before the PIC commission of inquiry on Tuesday. The commission, chaired by Justice Lex Mpati, is investigating allegations of wrongdoing at the PIC, which oversees R2trn in state funds.

GLOBAL MARKETS-Stocks fall, U.S. yields rise on retail sales data

* U.S. retail sales data tops expectations * German investor morale survey worse-than-expected * Mounting ‘no-deal' Brexit worries weigh on pound (Updates with close of European markets, Trump comments) By Chuck Mikolajczak NEW YORK, July 16 (Reuters) - A gauge of global equities fell on Tuesday and U.S. Treasury yields climbed as a stronger-than-anticipated report on retail sales raised the possibility the Federal Reserve could move towards a less dovish stance.

GLOBAL MARKETS-Stocks fall, U.S. yields rise on retail sales data

* U.S. retail sales data tops expectations * German investor morale survey worse-than-expected* Mounting 'no-deal' Brexit worries weigh on pound (Updates with close of European markets, Trump comments) By Chuck Mikolajczak NEW YORK, July 16 (Reuters) - A gauge of global equities fell on Tuesday and U.S. Treasury yields climbed as a stronger-than-anticipated report on retail sales raised the possibility the Federal Reserve could move towards a less dovish stance. U.S.

Kaizer Chiefs boss Kaizer Motaung joins fans in mourning Marc Batchelor

Kaizer Motaung join the many whose lives were touched by Marc Batchelor in mourning the former footballer's death on Tuesday. Batchelor was gunned down outside his Johannesburg home on Monday night and police have confirmed they are on the hunt for two suspects who were spotted on motorbikes fleeing the scene. "I am shocked to learn about the passing of former Kaizer Chiefs player Marc Batchelor‚" the Kaizer Chiefs boss said on Tuesday.

KwaZulu-Natal: Man hospitalised after being struck down by car in Redhill, Durban

KwaZulu-Natal: At 11H15 Tuesday morning Netcare 911 responded to reports of a collision on the corners of Chris Hani Road and Moreland Drive in Redhill Durban. Reports from the scene indicate that a light motor vehicle and a motorcycle were involved in a collision. A 23-year-old male motorcyclist sustained moderate injuries in the fall. The driver of the car, an adult female was not injured. Once treated the patient was transported by ambulance to hospital for further treatment. All necessary authorities were on scene. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

Vergelegen voted best wine estate in Africa

In the prestigious World's Best Vineyard 2019 competition, a voting panel from around the globe analysed 1500 wineries from 17 countries.  Vergelegen was named the best winery in Africa, and number 34 overall. The top estate in the world is   Zuccardi Valle de Uco in Argentina. The list has been established to raise the profile of wine tourism, and to encourage visitors to explore more of the world's best wineries, both traditional and emerging producers.

‘We were surprised at being cited as second plaintiff'

ABEL Sithole, principal executive officer of the Government Employees Pension Funds (GEPF), revealed that it was only last week that he became aware they were "slipped" in as plaintiffs in the PIC's summons against AYO Technology Solutions. He was testifying at a commission of inquiry into alleged irregularities and misconduct at the Public Investment Corporation (PIC) yesterday. Towards the end of May, the PIC proceeded to issue a summons against AYO over processes regarding the R4.3 billion transaction that was made into the company, by the PIC.

Man hospitalised after being struck down by car

t 11H15 Tuesday morning Netcare 911 responded to reports of a collision on the corners of Chris Hani Road and Moreland Drive in Redhill Durban. Reports from the scene indicate that a light motor vehicle and a motorcycle were involved in a collision. A 23-year-old male motorcyclist sustained moderate injuries in the fall.

European stock markets edge higher, pound slumps

European stock markets edged higher on Tuesday, while the pound hit the lowest level versus the dollar in more than two years on Brexit deadlock. Wall Street provided another record-breaking lead for stocks, as an expected Fed interest rate cut continues to fuel optimism, while top Chinese and US negotiators plan to hold trade talks over the phone this week. Asian equities closed mixed however on Tuesday, with investors taking a breather after a recent rally and as they awaited the start of the US corporate earnings season.

ANC SG Ace Magashule wants probe into all companies doing business with State

Johannesburg - An investigation into all private companies that do business with the South African government is long overdue, said African National Congress (ANC) secretary-general Ace Magashule. Speaking to reporters on the sidelines of the state capture commission of inquiry on Tuesday, Magashule said the controversial Gupta family has been targeted while other companies are never probed.  "I do not know why South Africa is not actually investigating every company which has done work with government. Only one particular family company is targeted.

'Investigate all companies doing business with State,' says ANC's Magashule

An investigation into all private companies that do business with the South African government is long overdue, said African National Congress (ANC) secretary general Ace Magashule . Speaking to reporters on the sidelines of the state capture commission of inquiry on Tuesday, Magashule said the controversial Gupta family has been targeted while other companies are never probed.  "I do not know why South Africa is not actually investigating every company which has done work with government. Only one particular family company is targeted.

Business Lessons from How Marvel Makes Movies

Spencer Harrison, an associate professor at INSEAD, says that managers in any industry can learn from the success of the Marvel movie franchise. While some sequels lack creativity, Marvel manages to make each of its new releases just different enough, so consumers are not just satisfied but also surprised. Research shows that several strategies drive this success; they include bringing in different types of talent while also maintaining a stable core creative team then working together to challenge the superhero action-film formula.

Tech Firm EOH Loses Two CEOs of Subsidiaries

EOH. Image source-TrendSpace T roubled JSE-listed technology group EOH has lost two CEOs of its subsidiaries, Nextec and ICT business. The company announced on Monday that Zunaid Mayet, executive director and CEO of EOH subsidiary Nextec,  has resigned as the CEO of Nextec and from the EOH Holdings board and various other EOH subsidiary boards.

Lonmin doomed after ‘unholy' pact with Amcu

Lonmin, the world's third largest platinum producer, was taken over by Sibanye-Stillwater on 7 June. Had this takeover not taken place Lonmin may well have been under business rescue by now.   Lonmin's cashflow problems initially arose from the failed mechanisation attempt by Brad Mills, its CEO from 2004 to 2008.

Are these SA's 10 biggest disclosed VC deals so far in 2019?

Close to half-a-billion rand in venture capital (VC) investments have gone to SA tech startups so far this year, reveal new figures compiled by Ventureburn on disclosed deals. The 10 biggest deals raised about R437-million. Ventureburn's analysis — which considered only disclosed investments involving tech companies of under seven years old — reveals that in the first six months of the year fintech startups netted R142.9-million in five disclosed SA tech startup deals, or about 31% of the R461.8-million of the total 15 disclosed deals.

Give it cash now and swop Eskom debt later proposes Nedbank

JOHANNESBURG Ask Nedbank group chief executive Mike Brown how to save South Africas beleaguered stateowned power utility and his approach is simple: first give it cash and then consider a debttoequity swop later.To ease Eskoms cashflow woes the government is planning a R230billion bailout. While the state initially wanted to spread that over 10 years a significant portion is now being expedited with details expected from National Treasury next Tuesday. For all practical purposes we dont have any easy or good options available at this stage Brown said in an interview on Friday.

The Healthy Business Show: Marketing: Building your brand

If you have a small business and don't have much to spend on marketing, how do you build a brand in an impactful way? Market research maestro and experienced entrepreneur, Musa Kalenga, started his first business at the age of 19. Hear what inspired him as he talks to Fred Roed about building a business and personal brand. A seasoned researcher, Musa believes your sales and research need to happen simultaneously.

In Steinhoff's footsteps; Tongaat seeks payments freeze on R11bn debt

(Bloomberg) - Tongaat Hulett Ltd . is asking 10 lenders for a break from payments on as much as R11bn ($793m) of debt so it can recover from the impact of having to restate accounts, according to Chief Executive Officer Gavin Hudson . The embattled South African sugar maker is spending about R1bn a year servicing the borrowings and is looking to negotiate a freeze by the end of July, Hudson said in an interview at Tongaat's 19th century Durban headquarters, an old farmhouse surrounded by sugar-cane fields.

Largest brewer's IPO turns sour

The share price of Anheuser-Busch InBev (AB InBev) fell almost 2percent on the JSE..

The 60 Minutes Fight Against Drug

& Alcohol Abuse Tour is Ready to Take the Road for the 8th Year in 2019 The 60 Minutes Fight Against Drug and Alcohol Abuse NPC, a South Coast based non-profit company annually joins hands with the Cedars Recovery Centre to present the 60 Minutes Fight Against Drug & Alcohol Abuse Tour. The tour visits six high schools educating and enlightening the youth about the effects and dire consequences of substance addiction. The Tour begins on the 29th July 2019 and ends on the 31st July and the team targets two schools per day.

WATCH: Can Greece become EU's 'most business-friendly' country?

4X Share this page Most ReadEditor's Choice Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH Act against Gordhan to avert a ‘Constitutional crisis' - Mkhwebane tells Ramaphosa EOH board rocked by multiple resignations EOH to approach police after probe finds evidence of theft, bribery SA's 12 'most loved' local businesses - Santam survey.

UPDATE 1-South Africa's rand inches weaker in wait-and-see...

(Adds latest prices, analyst comments) JOHANNESBURG, July 16 (Reuters) - South Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the U.S. central bank next week before making any big calls. At 1500 GMT the rand ZAR=D3 was 0.1% weaker at 13.9150 per dollar, hardly budging from the overnight close of 13.9025. Early trade saw the rand touch a session best of 13.8350 before strong growth in U.S. retail sales re-energized the greenback and dampened expectations of a deep rate cut by the Federal Reserve next week. Locally, retail sales data due on Wednesday will likely be overshadowed by the policy decision by the South African Reserve Bank (SARB) on Thursday. Twenty-four of 30 economists in a survey by Reuters said the SARB would cut rates by 25 basis points to 6.50% on July 18.

Mortimer Harvey wins Vodacom Business

After an intensive pitch process, has been appointed as the creative agency partner for Vodacom Business. Andrew Fradd, Group Managing Director of MH says the agency is excited to welcome Vodacom Business to the MH family. "With its breakthrough and leading products, technology and business solutions, we can't wait to take up the challenge of enhancing the brand as a business enabler - locally and beyond our borders." Katlego Moutlana, MH's Executive Head of Strategy, comments, "Our aim is to increase Vodacom's brand perception dramatically and ensure that its presence and products are always top of mind for both existing and future customers." "Our creative team comprises a great balance of youth and experience and we can't wait to inspire and delight our new partners with some great work," says Ntsikelelo ‘Ntsiki' Nukwa, Executive Creative Director at MH..

South Africa's rand inches weaker in wait-and-see session

ANGLOPLAT:   80,595     +988 (+1.24%)   16/07/2019 00:00 (Adds latest prices, analyst comments) JOHANNESBURG, July 16 (Reuters) - South Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the U.S. central bank next week before making any big calls. At 1500 GMT the rand was 0.1% weaker at 13.9150 per dollar, hardly budging from the overnight close of 13.9025. Early trade saw the rand touch a session best of 13.8350 before strong growth in U.S. retail sales re-energized the greenback and dampened expectations of a deep rate cut by the Federal Reserve next week. Locally, retail sales data due on Wednesday will likely be overshadowed by the policy decision by the South African Reserve Bank (SARB) on Thursday. Twenty-four of 30 economists in a survey by Reuters said the SARB would cut rates by 25 basis points to 6.50% on July 18. Two expected a cut of 50 basis points.

Ferro alloy producers call on Ramaphosa for help as high electricity prices take toll

Ferro alloy producers in South Africa are on their knees and are hoping that an intervention from President Cyril Ramaphosa will bring relief from the suffocating grip of high electricity prices. According to a letter the industry body, the Ferro Alloy Producers' Association (Fapa), sent to Ramaphosa, 17 500 direct and 120 000 indirect job opportunities are on the line. The industry pays more than R15 billion a year to Eskom and uses more than 10% of the power that Eskom supplies.

ThyssenKrupp to create Indian supply hub for engineering business

By Promit Mukherjee MUMBAI, July 16 (Reuters) - ThyssenKrupp plans to develop an Indian procurement centre as a supply hub for its engineering business in its push to turn around the loss-making division. The engineering business, which makes turnkey plants for the chemical, fertilizer, cement and mining industries, contributes up to 9% of the elevators-to-submarine group's net sales, but has been mired in losses due to a weak global environment. "Our target is to achieve the needed turnaround next year," Marcel Fasswald, chief executive of ThyssenKrupp Industrial Solutions, told Reuters in an interview in Mumbai. "India is already a global hub for some products and we are building up a global procurement centre here in India." He said mining and cement were going to be the major drivers of the business's growth in India and, aided by the country's cost benefits, it could become a hub for many more products. Prime Minister Narendra Modi's latest budget includes a major investment plan to boost infrastructure, rural consumption and foreign investment. Fasswald said the continued emphasis on infrastructure such as roads, bridges and power would generate a bigger share of orders for the engineering business. India currently contributes one-fifth of ThyssenKrupp's industrial solutions business and one-fourth of its workforce. Unlike Germany, where Thyssenkrupp is cutting jobs and costs, Fasswald said in India the group would be increasing its workforce. He said India had substantial cost benefits that made the country a preferred location as a hub to supply to other south Asian countries. The German industrial group embarked on a major restructuring programme after a failed merger of its steel unit in May with India's Tata Steel's European business. (Reporting by Promit Mukherjee. Editing by Jane Merriman) 2019-07-16 18.

Competition Tribunal: upcoming Wednesday hearings

The proposed transaction entails the formation of an economic alliance between WBHO Construction (Pty) Ltd and Trencon Construction (Pty) Ltd. Post-merger, the companies intend to operate as a single economic entity i.e. as part of the WBHO Alliance.

Financials lead the surge on the JSE

The JSE advanced on Tuesday mainly on the back of a rally led by the financials index which rose on the back of a firmer rand. The rand was trading mostly firmer on the day as it peaked at a session high of R13.83/$. However, the local currency pulled back after the greenback advanced on the back of positive US retail sales data.

Investigators find serious corruption at EOH

I gave them [investigators] unfettered access… — Stephen Van Coller, CEO - EOH I know exactly what happened… and exactly who needs to pay money back… — Stephen Van Coller, CEO - EOH A probe by independent investigators into EOH's dealings with Government has found "suspicious transactions" worth R1.2 billion and evidence of "a number of governance failings and wrongdoings", "unethical business practices", bribery and theft. Earlier in the year, Microsoft stopped doing business with EOH after receiving a tip-off about a contract the SA business had with the Department of Defence. The Money Show 's Bruce Whitfield interviewed Stephen Van Coller, CEO at EOH.

European wheat follows U.S. markets down

HAMBURG, July 16 (Reuters) - European wheat futures in Paris fell on Tuesday, pushed down by falling Chicago prices as improving conditions for U.S. corn and soybean crops weighed on grain markets. December milling wheat on the Paris-based Euronext exchange unofficially closed down 0.75 euros, or 0.4%, at 180.75 euros ($202.7) a tonne, as it pulled further away from a near two-week high of 184.25 euros struck on Monday. The contract was underpinned by chart support at 180 euros, dealers said. The advancing French wheat harvest, which is now underway in the northern half of the country, was continuing to show decent yields and mixed protein readings, traders said. After production expectations were trimmed following a late-June heat wave, harvesting was encouraging some market participants to raise forecasts again to 38 million tonnes or higher, they said. France's farm ministry this month forecast the crop at 37 million tonnes, up from around 34 million last year. Uncertainty over the size of the harvest in Russia, the world's top wheat exporter, following recent hot, dry spells was also helping to underpin Euronext, traders added. In Germany, premiums in Hamburg were unchanged, remaining under Paris as a new forecast intensified expectations of a large German harvest this summer which will be difficult to sell in export markets. Standard bread wheat with 12% protein for September onwards delivery in Hamburg was offered for sale unchanged at 3.0 euros under Paris December . Buyers were seeking at least 4.5 euros under. Germany's wheat harvest is set to rise sharply from the drought-damaged crop in 2018 but a heat wave in recent weeks means crop forecasts have been scaled back, Germany's association of farm cooperatives (DRV) said on Tuesday. The country's wheat crop will increase 17.7% on the year to 23.85 million tonnes, the association said in its latest harvest forecast.

Rand inches weaker in wait-and-see session

Traders are cautious ahead of local and US interest rate decisions. South Africa's rand edged weaker in subdued trade on Tuesday with market participants awaiting a local lending rates decision and one by the US central bank next week before making any big calls. At 1500 GMT the rand was 0.1% weaker at 13.9150 per dollar, hardly budging from the overnight close of 13.90. Early trade saw the rand touch a session best of 13.83 before strong growth in US retail sales re-energised the greenback and dampened expectations of a deep rate cut by the Federal Reserve next week. Locally, retail sales data due on Wednesday will likely be overshadowed by the policy decision by the South African Reserve Bank (Sarb) on Thursday. Twenty-four of 30 economists in a survey by Reuters said the Sarb would cut rates by 25 basis points to 6.50% on July 18. Two expected a cut of 50 basis points.

Friday Chillas, Sart your weekend night

About ShowMe™ | Franchising | Contact ShowMe™ LOCAL TIME: 06:59 pm | Tuesday, 16 July Quickly find any South African Town or City Menu HomeTravel South AfricaWestern CapeEastern CapeKwaZulu-NatalMpumalangaLimpopoFree StateGautengNorthern CapeNorth West CloseThings to do in South AfricaDay TripsGolf & Golf CoursesSelf Drive RoutesTourist AttractionsTravel Services CloseSouth Africa FactsWeather in South AfricaSouth Africa's Major Cities and International AirportsSouth African CultureFacts about South Africa - what you should knowMaps of South AfricaThe History of South AfricaThe South African Economy CloseEvents & EntertainmentContact Friday Chillas, Sart your weekend night Posted in Venue: SAB World of Beer Dates: 26/07/2019 to 26/07/2019 Times: 18h00-22h00 Entry Form: Click here to Download an Entry Form Friday Chillas means ending your week off the right way and easing your way into the weekend. Don't miss out on entertainment with live music, food and drinks until 10 pm. Date:            Friday, 26 July 2019 Time:            18h00 - 22h00 Venue:          SAB World of Beer, 15 Helen Joseph Street (formerly President                          Street), Newtown, Johannesburg Costs:           R60 entrance and one free for every five people you bring (so come with mates and share) Tickets are available at the door.

Investigators find serious corruption at EOH

I gave them [investigators] unfettered access… I know exactly what happened… and exactly who needs to pay money back… A probe by independent investigators into EOH's dealings with Government has found "suspicious transactions" worth R1.2 billion and evidence of "a number of governance failings and wrongdoings", "unethical business practices", bribery and theft. Earlier in the year, Microsoft stopped doing business with EOH after receiving a tip-off about a contract the SA business had with the Department of Defence. The Money Show's Bruce Whitfield interviewed Stephen Van Coller, CEO at EOH. Listen to the interview in the audio below (and scroll down for more quotes from it). This happened on their watch. We needed a new board to take it forward… …ENS recommended to the board that certain people be prosecuted. And the board unanimously agreed to that… zero tolerance for bribery and corruption... Enjoy The Money Show, but miss it sometimes? Get the best bits emailed to you daily, right after it ends.

JSE-listed companies lose their sparkle abroad

Financial scandals as those unravelled at Steinhoff continue to paint a negative picture of SA's corporate governance and its general management standards A series of corporate governance and managerial failures among major JSE-listed companies such as Steinhoff International has knocked investor perception of SA equities, with local counters now being increasingly viewed with trepidation. Foreign investors continue to shy away from local equities after having their fingers burned in terms of major stock losses, and the lack of interest in local stocks could see smaller cap companies being delisted, according to experts who spoke at a Meet the Managers event in Sandton on Tuesday. Previously,the management teams of SA's companies were seen as world-class, but recent setbacks, examples of which include cost overruns of Sasol's Lake Charles project, or Woolworths's underperforming investment in David Jones, had seen SA stocks lose their premium ratings, said Iain Power, chief investment officer at Truffle Asset Management. "We are being rated today, in the South African corporate perspective, more as an emerging market," said Power. The JSE continues to see foreigners selling off local equities — by Friday last week this amounted to R35bn for the year to date, JSE market statistics show. In the same period in 2018, foreigners had bought R16bn worth of JSE-listed equities. The JSE fell 11.37% in 2018, its worst performance in a decade. Small and medium cap stocks have been particularly hard hit by SA's tepid economic performance during the period, as these companies are generally more dependent on domestic conditions than larger companies. Over the past year, the JSE's small-cap index has fallen 11.4%, while the all share has inched up 0.7%. Investors had to be increasingly aware of value destruction when it came to picking local equities, although there were opportunities for undervalued stocks, Power said, citing Capitec's ultimate share price recovery after a sharp sell-off prompted by a

EOH fraud disclosure includes payment of bribes to secure state tenders

The company can now ‘take what is a very good business back into some kind of normality and start growing it again' - CEO. RYK VAN NIEKERK: The technology group EOH announced that a forensic investigation found that eight of its employees were involved in irregular and corrupt transactions valued at around R1.2 billion. These include the payment of bribes to secure state tenders.

Dan Matjila says Steinhoff was considered a sound investment, but there were concerns over governance.

Former Public Investment Corporation (PIC) CEO Dan Matjila told the PIC Commission that the losses incurred through the Corporation's investment in Steinhoff were significant and deeply regrettable. He says he takes full responsibility for the losses as he was at the helm of the organisation during the time of the investment. In 2016, the PIC funded Lancaster 101 to the tune of R9.4 billion to buy Steinhoff shares equaling to 2.75% of the company.

Bidvest enters deal to buy Eqstra Fleet Management and Logistics

DURBAN THE BIDVEST group has said that it had entered into an agreement to buy Eqstra Fleet Management and Logistics (Eqstra) from enX for a reported R3.1 billion.  The group said the 100 percent purchase of Eqstra would include an equity value of R1.3bn. It said the acquisition remained subject to approval from enX shareholders the Prudential Authority and the Competition Commission.  Bidvest said it planned to have the transaction concluded before the end of the year. It said the purchase was in line with its stated strategic intent to focus Bidvest Bank on its fleet management niche.

Johann Rupert: How Zuma implicated one of SA's richest men in state capture

Jacob Zuma certainly didn't take any prisoners during his first day at the State Capture Inquiry. The former president named names and called out several of his former colleagues for wrongdoing . Through stories of espionage and assassinations, Msholozi gave an impassioned defence - and even implicated Johann Rupert.

EMERGING MARKETS-EM assets edge higher ahead of U.S. data

July 16 (Reuters) - Emerging markets assets crept higher on Tuesday as investors stayed on the sidelines ahead of U.S. economic data that could provide clues for future monetary policy. MSCI's emerging market index tracking equities was marginally higher, lifted by gains in Asian heavyweights Hong Kong, South Korea and Taiwan.

WATCH: Stock picks — ARM and Fortress

Mark du Toit from Courtney Capital Private Wealth and Ashraf Mohamed from Arqaam Capital talk to Business Day TV Mark du Toit from Courtney Capital Private Wealth chose African Rainbow Minerals (ARM) as his stock pick of the day and Ashraf Mohamed from Arqaam Capital chose Fortress. Du Toit said: "We like the fact that we have seen a lot of supplies coming out of the commodities space over the past 10 years. At this point, these companies are going to be throwing off a lot of free cash flow and ARM are still in the single-digit price-earnings multiple." Mohamed said: "I think there has been a lot of cleaning up within that group. They have an entirely new management team.

LIVESTREAM: Matjila expected back at PIC inquiry

JOHANNESBURG - Former PIC boss Dan Matjila is expected to continue his testimony on Tuesday. He is expected to shed light on deals such as S&S Refinery, Ayo, Steinhoff at the inquiry. He will also be cross-examined by the evidence team as he presents his evidence.

As Old Mutual battle goes to court, Moyo drags Rothschild's Kingston into the fray

Ahead of Peter Moyo's appearance in court on Tuesday in his efforts to be reinstated as Old Mutual CEO and have his axing declared unlawful, he has dragged the executive chairman of Rothschild & Co Martin Kingston into his messy battle against the insurer. Until now, Moyo - who was suspended on May 23 on the grounds of "a material breakdown in the relationship of trust and confidence" and was dismissed on June 18 - has aimed his lawsuit at Old Mutual and its board chair Trevor Manuel. Moyo says the insurer fired him without following proper disciplinary processes.

Departing EOH executives were not implicated in corruption: Van Coller

Zunaid Mayet Zunaid Mayet, Rob Godlonton and Pumeza Bam were not implicated in corruption and were not dismissed, EOH Holdings CEO Stephen van Coller said on Tuesday. The JSE-listed technology group said on Monday evening that Mayet, a former group CEO and most recently CEO of subsidiary Nextec, and Rob Godlonton, the CEO of EOH's ICT business, resigned last Friday. Non-executive director Pumeza Bam also resigned from the board.

GEPF satisfied with PIC's management of its assets, inquiry told

PRETORIA - The Government Employee Pension Fund (GEPF)'s principal officer said that while it had some concerns about governance at the Public Investment Corporation (PIC), it was satisfied with the manner in which its assets are being managed. Abel Sithole made the comments on Monday at the commission of inquiry which is being chaired by former Supreme Court Judge Lex Mpati.  The PIC, which manages more than a trillion rand of the GEPF's funds, invested R4.3 billion rand in Ayo Technologies in December 2017 and is the subject of the Mpati commission. Sithole said the PIC had performed according to its mandate and delivered returns on investment.

LIVE: EOH CEO Stephen van Coller unpacks corruption probe

Stephen van Coller EOH Holdings CEO will hold a media call at 9am on Tuesday to discuss the interim findings of an investigation by law firm ENSafrica into alleged corruption involving the IT group's public sector contracts. The investigation has unearthed "evidence of serious governance failings and wrongdoing at EOH", the JSE-listed group said. These include "unsubstantiated payments, tender irregularities and other unethical business dealings".

Cosatu threatens govt, business with court over acid mine water

The acid mine water crisis in Gauteng will not be resolved because the government lacks the political will to deal with what has become a health hazard, the Congress of South African Trade Unions (Cosatu) says. The federation threatened to take the government and businesses responsible for the contamination to court if they did not address the issue, which has been described as a "ticking time bomb". Cosatu also planned to hold protests and occupy government and companies' offices.

South African Markets - Factors to watch on July 16

© Reuters. South J July 16 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday . ECONOMIC EVENTS - No major releases. COMPANIES- Full Year 2019 Tongaat Hulett TONJ.J Ltd Earnings Release - Half Year 2019 Group Five GRFJ.J Earnings Release. SOUTH AFRICAN MARKETSSouth Africa's rand firmed on Monday as bets the Federal Reserve will cut interest rates next week continued to boost the currency in the absence of any local economic drivers, on a day dominated by ex-president Jacob Zuma's testimony at a graft inquiry. .J ZAR/ GLOBAL MARKETS The pound struggled near a six-month low against the dollar on Tuesday, hampered by persistent worries over Brexit that, in turn, weighed on the euro.

Optimistic Chinese Data Lifts Markets

South Africa The JSE started the week in positive territory thanks to risk-on trade and Naspers's strong performance. At the closing bell, the All Share was 0.45% higher. United States On Monday, the main indices in the US opened higher as the new earnings season started on a positive note when Citigroup's results outperformed expectations.

EOH chief exec clears the air on corruption report and resignations

Technology services company EOH has expanded on some of the findings of a forensic investigation into corruption at the group, carried out by law firm ENSafrica. An investigation was conducted after software and technology group Microsoft terminated longstanding partner agreements with EOH. This, after a contract worth R120 million - awarded to subsidiary EOH Mthombo by the Department of Defence - was questioned.

Blue Label ‘disempowers' black SMMEs

The Competition Commission is investigating Blue Label Telecoms for prepaid airtime arrangements that are allegedly disempowering to blackowned SMMEs..

South Africa's Amplats expects half-year earnings to double

JOHANNESBURG, July 16 (Reuters) - Anglo American Platinum (Amplats) on Tuesday said it expects half-year earnings to double, raising its outlook on higher metals prices and a stockpile gain of 1.0 billion rand ($72 million). Amplats, which previously flagged an 80% increase, said it now expects headline earnings per share (HEPS) for the six months to June 30 of 2,671 to 2,924 cents per share, an increase of 108% to 128%, compared with 1,282 cents A year earlier. HEPS strips out certain one off items and is the main profit measure used in South Africa.

LIVESTREAM: Matjila expected back at PIC inquiry

JOHANNESBURG - Former PIC boss Dan Matjila is expected to continue his testimony on Tuesday. He is expected to shed light on deals such as S&S Refinery, Ayo, Steinhoff at the inquiry. He will also be cross-examined by the evidence team as he presents his evidence.

Assistant Security Officer - Senior Control Officer (Investigations) wanted: APPLY NOW

Mpumalanga, KwaZulu-Natal Closing date: 25 July 2019 Operating entity: Sasol Chemical Operations - Site Services: Security and Road Traffic Services Geographical area: Secunda ABOUT THE ROLE / PURPOSE OF THE JOB Loading... To conduct investigations of irregularities, criminal activities, security incidents and breaches at Business Unit level, within the Sasol Limited Holdings environment and report on the results of such investigations. FUNCTIONAL OUTPUTS Planning and execution of investigations; Conduct thorough investigation by fact finding and evidence retrieval within allocated time frames; Prioritising each investigation based on priority; Drafting and/or reviewing of factual reports containing appropriate findings and recommendations and subsequent follow-up of recommendations made; Testify in disciplinary hearings and in criminal trials; Develop and maintain professional relationships with all stakeholders.

Kazakh tycoon sells Petropavlovsk stake to focus on battery minerals

* Petropavlovsk share price has doubled versus 5 pence low * Plans Hong Kong listing for Kaznickel this year * Roman Trotsenko becomes Petropavlovsk's biggest shareholder LONDON, July 16 (Reuters) - Kazakh entrepreneur Kenes Rakishev said on Tuesday he had sold his stake in gold miner Petropavlovsk to Russian billionaire Roman Trotsenko and would invest the proceeds in a cobalt and nickel project he aims to list in Hong Kong. Rakishev bought his shares in late 2017 when he said Petropavlovsk was a distressed stock. According to Refinitiv data, Petropavlovsk fell to a low of around 5 pence in October 2018 and was trading at close to 10 pence on Tuesday following Rakishev's announcement he had sold his entire stake of 28.3%, including convertible bonds.

Lizelle Gerber appointed as Nederburg's new cellar-master

Seasoned, award-winning winemaker Lizelle Gerber is joining Nederburg Wines in Paarl as its new cellar master, from 1 August 2019. Nederburg, one of South Africa's most pedigreed names in wine, is part of the newly-formed Libertas Vineyards and Estates, Distell's independent premium and fine wine company. "We are proud and excited to welcome Lizelle to the team," says Niël Groenewald, managing director of Nederburg.

U.S. business inventories rise moderately in May

WASHINGTON, July 16 (Reuters) - U.S. business inventories rose moderately in May as sales rebounded, suggesting that inventory accumulation could have been a drag on economic growth in the second quarter. The Commerce Department said on Tuesday that business inventories increased 0.3% after advancing 0.5% in April. Inventories are a key component of gross domestic product. May's reading was in line with economists' expectations. Retail inventories increased 0.4% in May instead of rising 0.5% as estimated in an advance report published last month. Motor vehicle inventories rose 0.7% in May, rather than advancing 0.8% as previously reported. Retail inventories excluding autos, which go into the calculation of GDP, rose 0.3% as reported last month. Economists expect inventories subtracted from GDP growth in the second quarter after contributing 0.55 percentage point to the economy's 3.1% annualized growth pace in the January-March period. The Atlanta Federal Reserve is forecasting GDP rising at a 1.4% rate in the second quarter.

GLOBE TRADE CENTRE S.A. - Statement regarding the conditional registration of the series N ordinary bearer shares.

GTC 201907160032A Statement regarding the conditional registration of the series N ordinary bearer shares. GLOBE TRADE CENTRE S.A. (Incorporated and registered in Poland with KRS No. 61500) (Share code on the WSE: GTC.S.A) (Share code on the JSE: GTC ISIN: PLGTC0000037) (‘GTC' or ‘the Company') Current report number: 14/2019 Date: 16 July 2019 Subject: Statement of Krajowy Depozyt Papierów Wartosciowych S.A. regarding the conditional registration of the series N ordinary bearer shares in Globe Trade Centre S.A. The Management Board of Globe Trade Centre Spólka Akcyjna (the ‘Company') hereby announces that on 16 July 2019 the Polish National Depositary for Securities (Krajowy Depozyt Papierów Wartosciowych S.A., the ‘KDPW') issued statement No.

WATCH: Can Greece become EU's 'most business-friendly' country?

4X Share this page Most ReadEditor's Choice Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH Act against Gordhan to avert a ‘Constitutional crisis' - Mkhwebane tells Ramaphosa EOH board rocked by multiple resignations EOH to approach police after probe finds evidence of theft, bribery SA's 12 'most loved' local businesses - Santam survey.

Kazakh tycoon sells Petropavlovsk stake to focus on battery minerals

LONDON - Kazakh entrepreneur Kenes Rakishev said on Tuesday he had sold his stake in gold miner Petropavlovsk to Russian billionaire Roman Trotsenko and would invest the proceeds in a cobalt and nickel project he aims to list in Hong Kong. Rakishev bought his shares in late 2017 when he said Petropavlovsk was a distressed stock. According to Refinitiv data, Petropavlovsk fell to a low of around 5p in October 2018 and was trading at close to 10 pence on Tuesday following Rakishev's announcement he had sold his entire stake of 28.3%, including convertible bonds.

Matjila admits to meeting ministers to discuss PIC business

Former Public Investment Corporation (PIC) chief executive officer Dan Matjila has admitted to often meeting with ministers to discuss PIC business and insists there is nothing wrong with this. Matjila was responding to questions on Tuesday at the commission of inquiry. He testified about a meeting at the OR Tambo International Airport he was called to in 2017 by the former state security agency minister where he was introduced to two women and asked to help them. Barry Bateman has more on the testimony. He says at this particular meeting he explained to them that there is certain process you have to go to in order to get PIC funding and ultimately we understand it was not successful. It was put to him that it is highly improper and unethical for the head of the PIC to go and meet a minister under these circumstances.

SRK to review Waterberg platinum project DFS, planning progresses

TSX- and NYSE-listed Platinum Group Metals (PTM) will, this month, submit its definitive feasibility study (DFS) for the Waterberg project for a peer review by engineering firm SRK Consulting, before publishing it before the end of the third quarter. The company has also filed a mining right application and an application for an environmental authorisation, following successful stakeholder consultations. Meanwhile, PTM has started detailed infrastructure planning for the Waterberg platinum and palladium project, in South Africa's Limpopo province.

UPDATE 1-Russia eyes 2035 grain crop boom with $70 bln investment plan

* Russia is world's top wheat exporter * Moscow looks to increase infrastructure capacity * Putin wants agricultural product exports to rise * VTB bank buying grain assets at home (Adds detail, background) By Tom Balmforth MOSCOW, July 16 (Reuters) - The Agriculture Ministry said on Tuesday it saw Russia's grain crop rising as high as 150.3 million tonnes by 2035 in an "optimistic scenario" as it outlined a draft strategy to invest billions of dollars in grain infrastructure and logistics. The 2035 strategy, which has been sent to the government for discussion, would cost more than 4.4 trillion roubles ($70 billion) in funds drawn from private investors, loans and government financing, the ministry said in a statement. The proposal to ramp up investment in the sector comes as state-controlled VTB, Russia's second-largest bank, has been buying grain export infrastructure assets.

INGENUITY PROPERTY INVESTMENTS LIMITED - Firm intention by Ingenuity to make an offer to Ingenuity shareholders and withdraw

Firm intention by Ingenuity to make an offer to Ingenuity shareholders and withdrawal of cautionary announcement INGENUITY PROPERTY INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/018084/06) JSE share code: ING ISIN: ZAE000127411 ("Ingenuity") ANNOUNCEMENT OF A FIRM INTENTION BY INGENUITY TO MAKE AN OFFER TO INGENUITY SHAREHOLDERS TO REPURCHASE THEIR INGENUITY SHARES AND DELIST INGENUITY FROM THE JSE, SUSPENSION OF THE PROPOSED SPECIFIC REPURCHASE AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT 1. INTRODUCTION The board of directors of Ingenuity (the "Board") is pleased to announce that it has resolved to propose the terms and conditions of: • a cash offer to repurchase all the ordinary shares in Ingenuity for a repurchase price of R1.08 per share ("Scheme Consideration"), other than those held by the shareholders identified in paragraph 5 below, (the "Consortium") (each, a "Scheme Share"), in accordance with section 48 and section 114(1)(e) of the Companies Act, No. 71 of 2008 ("Companies Act") and paragraph 1.17(b) of the JSE Listings Requirements ("Listings Requirements") by way of a scheme of arrangement "(Scheme"); and • a general offer to shareholders of Ingenuity, excluding the Consortium (each, a "General Offer Share"), as contemplated in section 117(1)(c)(v) of the Companies Act and paragraph 1.15(c) of the Listings Requirements, to acquire the General Offer Shares for a cash consideration of R1.08 per General Offer Share ("General Consideration") by way of a general offer ("General Offer"); and • the delisting of all Ingenuity shares from the Johannesburg Stock Exchange ("JSE") pursuant to the implementation of the Scheme or pursuant to the delisting being approved and the General Offer being implemented ("Delisting").

INGENUITY PROPERTY INVESTMENTS LIMITED - Firm intention by Ingenuity to make an offer to Ingenuity shareholders and withdraw

ING 201907160033A Firm intention by Ingenuity to make an offer to Ingenuity shareholders and withdrawal of cautionary announcement INGENUITY PROPERTY INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 2000/018084/06) JSE share code: ING ISIN: ZAE000127411 (‘Ingenuity') ANNOUNCEMENT OF A FIRM INTENTION BY INGENUITY TO MAKE AN OFFER TO INGENUITY SHAREHOLDERS TO REPURCHASE THEIR INGENUITY SHARES AND DELIST INGENUITY FROM THE JSE, SUSPENSION OF THE PROPOSED SPECIFIC REPURCHASE AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT 1. INTRODUCTION The board of directors of Ingenuity (the ‘Board') is pleased to announce that it has resolved to propose the terms and conditions of: • a cash offer to repurchase all the ordinary shares in Ingenuity for a repurchase price of R1.08 per share (‘Scheme Consideration'), other than those held by the shareholders identified in paragraph 5 below, (the ‘Consortium') (each, a ‘Scheme Share'), in accordance with section 48 and section 114(1)(e) of the Companies Act, No. 71 of 2008 (‘Companies Act') and paragraph 1.17(b) of the JSE Listings Requirements (‘Listings Requirements') by way of a scheme of arrangement ‘(Scheme'); and • a general offer to shareholders of Ingenuity, excluding the Consortium (each, a ‘General Offer Share'), as contemplated in section 117(1)(c)(v) of the Companies Act and paragraph 1.15(c) of the Listings Requirements, to acquire the General Offer Shares for a cash consideration of R1.08 per General Offer Share (‘General Consideration') by way of a general offer (‘General Offer'); and • the delisting of all Ingenuity shares from the Johannesburg Stock Exchange (‘JSE') pursuant to the implementation of the Scheme or pursuant to the delisting being approved and the General Offer being implemented (‘Delisting'). The Scheme and General Offer are proposed concurrently on the basis that the implementation of the General Offer will be conditional upon, inter alia, the Scheme not becoming o

FAMOUS BRANDS LIMITED - Dealing in Securities

FAMOUS BRANDS LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1969/004875/06) JSE Share code: FBR ISIN code: ZAE000053328 (?the Company? or ?Famous Brands?) DEALINGS IN SECURITIES In compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited (?JSE?), shareholders are advised of the following off market transaction by a director in the Company?s securities. Name of director: Mr J Halamandres Class of securities: Ordinary shares Nature of transaction: Transfer of shares to a relative as a gift Date of transaction: 12 July 2019 Number of securities: 5 000 Price per security: Nil value Transaction value: R443 300.00 based on a deemed value of R88.66 per Famous Brand share Nature and extent of director?s Direct beneficial interest: Midrand 16 July 2019 Sponsor The Standard Bank of South Africa Limited Date: 16/07/2019 04:03:00 Supplied by www.sharenet.co.za Produced by the JSE SENS Department . The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS.

Russia eyes 2035 grain crop boom with $70 bln investment plan

* Russia is world's top wheat exporter * Moscow looks to increase infrastructure capacity * Putin wants agricultural product exports to rise * VTB bank buying grain assets at home (Adds detail, background) By Tom Balmforth MOSCOW, July 16 (Reuters) - The Agriculture Ministry said on Tuesday it saw Russia's grain crop rising as high as 150.3 million tonnes by 2035 in an "optimistic scenario" as it outlined a draft strategy to invest billions of dollars in grain infrastructure and logistics. The 2035 strategy, which has been sent to the government for discussion, would cost more than 4.4 trillion roubles ($70 billion) in funds drawn from private investors, loans and government financing, the ministry said in a statement. The proposal to ramp up investment in the sector comes as state-controlled VTB, Russia's second-largest bank, has been buying grain export infrastructure assets. Russian grain supplies could play a key role in President Vladimir Putin's plan, announced a year ago, to increase the country's exports of agricultural products to $45 billion by 2024. The Agriculture Ministry is in charge of that initiative. Russia, the world's largest wheat exporter, would produce 140 million tonnes of grain annually by 2035 in the draft strategy's base-case scenario, while exporting 55.9 million tonnes, the ministry said. In an optimistic scenario, the crop could rise to 150.3 million tonnes with exports totalling 63.6 million tonnes, it said, considerably higher than forecasts for this year. This year, the grain crop will total 118 million tonnes with exports for the 2019/2020 marketing season at 45 million tonnes, according to the ministry. The strategy prioritises increasing grain production, improving its quality, increasing domestic demand and developing infrastructure and logistics, the ministry said. The plan

Kazakh tycoon sells Petropavlovsk stake to focus on battery minerals

* Petropavlovsk share price has doubled versus 5 pence low * Plans Hong Kong listing for Kaznickel this year * Roman Trotsenko becomes Petropavlovsk's biggest shareholder LONDON, July 16 (Reuters) - Kazakh entrepreneur Kenes Rakishev said on Tuesday he had sold his stake in gold miner Petropavlovsk to Russian billionaire Roman Trotsenko and would invest the proceeds in a cobalt and nickel project he aims to list in Hong Kong. Rakishev bought his shares in late 2017 when he said Petropavlovsk was a distressed stock. According to Refinitiv data, Petropavlovsk fell to a low of around 5 pence in October 2018 and was trading at close to 10 pence on Tuesday following Rakishev's announcement he had sold his entire stake of 28.3%, including convertible bonds. The shares were up around 1.5% from Monday's close at 9.8 pence by 1245 GMT. The company's stock rallied after a gold treatment project came online to boost production and cut costs. {nL8N1WD1HI] Rakishev said he remained interested in gold as an investment prospect but was focusing for now on battery minerals and on developing cobalt-nickel deposits in Kazakhstan. He is working on a Hong Kong listing before the end of the year that would sell off 25% of the equity to raise $260 million of the roughly $300 million he needs for the project. Rakishev also said he had had discussions with diversified miner and trader Glencore on a possible supply deal. Glencore declined to comment. "The decision to sell our stake was based purely on commercial reasons including funding requirements for some of our projects," Rakishev said. Trotsenko, now Petropavlovsk's biggest shareholder, is the founder of AEON Corporation, a private company that invests in infrastructure, real estate and mining.

GLOBE TRADE CENTRE S.A. - Statement regarding the conditional registration of the series N ordinary bearer shares.

Statement regarding the conditional registration of the series N ordinary bearer shares. GLOBE TRADE CENTRE S.A. (Incorporated and registered in Poland with KRS No. 61500) (Share code on the WSE: GTC.S.A) (Share code on the JSE: GTC ISIN: PLGTC0000037) ("GTC" or "the Company") Current report number: 14/2019 Date: 16 July 2019 Subject: Statement of Krajowy Depozyt Papierów Wartosciowych S.A. regarding the conditional registration of the series N ordinary bearer shares in Globe Trade Centre S.A. The Management Board of Globe Trade Centre Spólka Akcyjna (the "Company") hereby announces that on 16 July 2019 the Polish National Depositary for Securities (Krajowy Depozyt Papierów Wartosciowych S.A., the "KDPW") issued statement No.

Mbalula responds to Zuma's Rupert story: Wait 'til I write my book

Minister of Transport Fikile Mbalula has not explicitly confirmed or denied former president Jacob Zuma's story told during his testimony at the commission of inquiry into state capture on Monday, alleging that billionaire businessman Johann Rupert warned Mbalula that if Zuma removed then finance minister Pravin Gordhan from his position he and others "would shut down the economy" and interfere with the rand. Asked by journalist Karyn Maughan for comment on this, Mbalula said he had no duty to do so. "Why should I comment? Did anyone comment on my evidence at the commission?" he replied.

DAYS OF ZONDO: Reporters' Notebook: On the streets with the Zuma-ites

Former president Jacob Zuma addressed supporters in Johannesburg after appearing at the State Capture Inquiry on 15 July 2019. Photo: Greg Nicolson As former president Jacob Zuma took the stand at the State Capture Commission, his supporters lauded their hero on the streets. " Let us be vigilant, the enemy is still around," former president Jacob Zuma told supporters after his first day at the State Capture Commission on Monday 15 July.

Why wellness needs to be a business transformation priority

When the acronym VUCA (volatile, uncertain, complex and ambiguous) was coined by the US Army in the 1990's to describe how crazy the post-Cold War years were, those early proponents had no idea that this would continue to be true for years to come. VUCA continues to be applied in our 21st Century world to describe the effect of frequent change in organisations and the global economic climate that can be a cause of disruption, hyper-competiveness, turbulence, high velocity and radical flux. "We know that strategic workplace change can be effectively achieved when it is done with clear intention and planning," says Stephen Rothgiesser, MD of The Change Consulting Group.

Amplats expects half-year earnings to double

| JOHANNESBURG - Anglo American Platinum (Amplats) on Tuesday said it expects half-year earnings to double, raising its outlook on higher metals prices and a stockpile gain of 1.0 billion rand ($72 million). Amplats, which previously flagged an 80% increase, said it now expects headline earnings per share (HEPS) for the six months to June 30 of 2,671 to 2,924 cents per share, an increase of 108% to 128%, compared with 1,282 cents A year earlier. HEPS strips out certain one-off items and is the main profit measure used in South Africa. Amplats will release its results on 22 July..

Helping small business tackle the IT challenge head on

The IT issues facing small businesses (SBs) are no less challenging than those facing an enterprise, yet as an industry IT continues to complicate the sales pitch and oversell technology solutions to SMEs, a market craving innovation. It is with this in mind that Westcon-Comstor has launched an all new SB portal, designed to assist Cisco resellers to home in on the needs of the SB customer and provide fit for purpose solutions that meet their needs. A long-standing global distributor of Cisco solutions, Westcon-Comstor has always led with the value-add it brings to its resellers.

SA Schools squads named for August Youth Internationals

SA Schools:   Outside backs:  Geraldo Flusk (Assupol Blue Bulls / HS Garsfontein), Keane Galant (Boland / HTS Drostdy), Zeilinga Strydom (Assupol Blue Bulls / HS Garsfontein), Tarquin Manuel (DHL Western Province / HS Stellenberg). Centres:  Tyler Bocks (DHL Western Province / Paarl Boys High), Henco van Wyk (Bidvest Waltons Golden Lions / Monument), Mntungwa Mapantsela (Border / Selborne College). Flyhalves:  Kean Meadon (DHL Western Province / Paarl Boys High), Boldwin Hansen (Boland / HS Hermanus).

Markets LIVE: European stocks, US futures edge higher

European stocks, US futures edge higher Bloomberg   European stocks edged higher with US futures following a mixed session in Asia as investors looked to earnings and policymakers for the rally's next catalyst. Treasuries drifted and the dollar strengthened. The Stoxx Europe 600 Index climbed for a third straight session, pulled higher by health care shares.

Amplats expects half-year earnings to double

Citing higher metals prices and a stockpile gain of R1bn. Anglo American Platinum (Amplats) on Tuesday said it expects half-year earnings to double, raising its outlook on higher metals prices and a stockpile gain of R1.0 billion. Amplats, which previously flagged an 80% increase, said it now expects headline earnings per share (Heps) for the six months to June 30 of 2 671 to 2 924 cents per share, an increase of 108% to 128%, compared with 1 282 cents a year earlier. Heps strips out certain one off items and is the main profit measure used in South Africa. Amplats will release its results on July 22..

Zimbabwe: Platinum Demand to Spike

[The Herald] Demand for platinum is expected to shoot after Unki Mine s parent company, Anglo American Platinum and Platinum Group of Metals launched a next generation battery technology that uses platinum and palladium..

Massive reward for missing dog sparks hilarious business idea

A R20 000 reward for a missing dog has put Mzansi into a frenzy. The poster of the dog and reward money is being shared on social media and has garnered a mixed bag of reactions. While many were taken aback at how much people were willing to spend on a dog, others were struck with ideas for a hilarious business venture.

This week's agency moves, hires and partnerships: July 15, 2019

Ignacio Ferioli and Joaquín Cubria join Gut as chief creative officers and partners, overseeing creative output in the Miami, São Paulo and Buenos Aires offices. Most recently, they were co-CCOs at David Buenos Aires working on global campaigns for Coca-Cola, Budweiser (including the 2019 Super Bowl), Volkswagen, Burger King, Coca-Cola, Unilever and AB InBev, after joining the agency in 2012 as executive creative directors. Tony Kalathara joins 72andSunny New York as group creative director.

AB InBev pulls Hong Kong listing

The brewer said the decision not to proceed with the public offering was partly due to prevailing market conditions. Anheuser-Busch InBev has called off the listing of its Asia Pacific subsidiary on the Hong Kong Stock Exchange. It said the decision not to proceed with the initial public offering (IPO) was partly due to prevailing market conditions.

BUSINESS MAVERICK: Economic (in)flexibility: There's just no fiscal space

Most countries have one thing in common: Heavily indebted governments. So it would be unrealistic to expect fiscal policy to come to the rescue in the event of a global recession - unless they build up a buffer during the years ahead by engaging in fiscal consolidation..

enX sells Eqstra to Bidvest

Bidvest will pay an enterprise value of R3.1 billion for the fleet management and logistics business. enX Group has sold its fleet management and logistics business to Bidvest nine months after putting it up for sale. It decided to dispose of Eqstra Fleet Management and Logistics (EFML) last October following a strategic review of its ownership interest in the business.

PFG and Zeder cautionaries raise speculation

It was suggested that Pioneer may be about to make an acquisition or that Zeder could unbundle its stake in the food producer. Pioneer Food Group and Zeder Investments both issued cautionary announcements yesterday, raising speculation about the deal they could be involved in. Pioneer said it had entered into negotiations which may have a material effect on its share price if they are successfully concluded.

Cape Wine Masters Embark on New Era

According to De Bruyn Steenkamp, the new chairperson of the Institute of Cape Wine Masters, the 102 individuals that today bear the title of Cape Wine Master represent some of the keenest wine industry minds spread over various fields of expertise that are in a position to add value and to contribute to the South African wine industry. "Since the first three Cape Wine Masters were inducted in 1983, the Cape Wine Master qualification (CWM) has been recognised as the foremost qualification in South African wine education," says Steenkamp, a former Global Director of Sales and Marketing at KWV and International Business Manager at Distell. "Among those who have passed the rigorous CWM examinations are winemakers, marketing specialists, chartered accountants and business strategists - some working in the industry, many don't.

Zuma's spy claims are implausible and paranoid

Editor's note: The opinions in this article are the author's, as published by our content partner, and do not represent the views of MSN or Microsoft. Jacob Zuma, his legal team and his supporters are clearly trying to make this a case of an illegitimate commission versus the persecution of a popular liberation hero. Former President Jacob Zuma's introductory remarks before the Zondo Commission on 15 July could not have been more dramatic, even if they had been scripted for a TV soap opera.

BUSINESS MAVERICK: Chunks of SA's new competition law hand huge new powers to Trade and Industry Minister Ebrahim Patel

Minister of Trade and Industry Ebrahim Patel. (Photo: Gallo Images / Jeffrey Abrahams) On Friday 12 July certain provisions of the Competition Amendment Act were enacted via a published notice in the Government Gazette. Dealmakers are now subject to more rigorous merger rules and the Competition Commission can break up companies it deems too big.

BUSINESS MAVERICK: How to address Venezuela's crushing debt burden

When he finally leaves the political stage in Venezuela, Nicolás Maduro will leave behind a grim legacy of oppression, suffering and economic devastation. He will also leave a mountain of foreign-currency-denominated claims against the Venezuelan public sector - almost all of which is now in default - totalling more than $150-billion. In all likelihood, it will fall to Venezuela's interim government to move promptly to arrest the deep humanitarian crisis, restore the country's shattered economy, and deal with gargantuan legacy debts.

EOH executives quit

The two divisional CEOs resigned with immediate effect ahead of the release of a report into public sector contracts. The CEO of EOH's two operating divisions resigned with immediate effect on Friday as it prepared to release details of a report into its public sector contracts. The technology services group gave no reason for their departure.

Senegal/Tunisia: Senegal Edge Past Tunisia to Reach Cup of Nations Final

Photo: CAF Online Senegal's national soccer team at the AFCON (file photo) Cairo — Senegal advanced to the final of the Africa Cup of Nations on Sunday night following a 1-0 win over Tunisia after extra-time. Either side could have settled the game within 90 minutes. But first Ferjani Sassi missed a spot kick for Tunisia and six minutes later in the 81st minute,… Read more on AllAfrica.com South Africa Today Africa - North Africa Tunisia News Disclaimer: The views of authors published on South Africa Today are their own and do not necessarily represent the views of South Africa Today.

BUSINESS MAVERICK: Chunks of SA's new competition law hand huge new powers to Trade and Industry Minister Ebrahim Patel

Minister of Trade and Industry Ebrahim Patel. (Photo: Gallo Images / Jeffrey Abrahams) On Friday 12 July certain provisions of the Competition Amendment Act were enacted via a published notice in the Government Gazette. Dealmakers are now subject to more rigorous merger rules and the Competition Commission can break up companies it deems too big.

BUSINESS MAVERICK: Another one bites the dust as André Pillay resigns as Eskom group treasurer

Eskom group treasurer André Pillay's departure follows close in the footsteps of Phakamani Hadebe, the utility's 12th CEO since 2007. (Photo: Twitter / @SAgovnews) With the departure of both Phakamani Hadebe and André Pillay, Eskom has lost key talent — both are specialists in the fixed income debt category. Pillay says he has been offered a job elsewhere.

BUSINESS MAVERICK: How to address Venezuela's crushing debt burden

When he finally leaves the political stage in Venezuela, Nicolás Maduro will leave behind a grim legacy of oppression, suffering and economic devastation. He will also leave a mountain of foreign-currency-denominated claims against the Venezuelan public sector - almost all of which is now in default - totalling more than $150-billion..

BUSINESS MAVERICK: Economic (in)flexibility: There's just no fiscal space

Olivier Blanchard, a former chief economist at the IMF. (Photo: Paul Morigi / Brookings Institution / Flickr) Most countries have one thing in common: Heavily indebted governments. So it would be unrealistic to expect fiscal policy to come to the rescue in the event of a global recession - unless they build up a buffer during the years ahead by engaging in fiscal consolidation.

PIC INQUIRY: Custodian of government-worker pension money was blindsided by PIC's R4.3bn AYO deal

Sekunjalo Group chair Iqbal Survé. (Photo: Gallo Images / Foto24 / Lerato Maduna) Abel Sithole, the principal executive officer of the Government Employees Pension Fund, said the Public Investment Corporation didn't involve or inform it when it made an investment in AYO Technology Solutions in December 2017. The Government Employees Pension Fund (GEPF), whose R1.8-trillion of government-worker pension funds are managed by the Public Investment Corporation (PIC), has suggested that it was blindsided by the fund manager's decision to invest a cool R4.3-billion in AYO Technology Solutions in December 2017.

DAYS OF ZONDO OP-ED: Zuma's spy claims are implausible, paranoid, and a red herring

Jacob Zuma, his legal team and his supporters are clearly trying to make this a case of an illegitimate commission versus the persecution of a popular liberation hero. Former President Jacob Zuma's introductory remarks before the Zondo Commission on 15 July could not have been more dramatic, even if they had been scripted for a TV soap opera. Zuma clearly came to the commission with at least three objectives: To undermine the overall legitimacy of the commission, without appearing uncooperative; To divert the attention of the commission, the media and public opinion in general from the "State Capture" mandate of the commission; and To project himself as the victim of an elaborate plot engineered by domestic and foreign intelligence services, going back to the early 1990s, to keep him from gaining or retaining political power.

BUSINESS MAVERICK: Another one bites the dust as André Pillay resigns as Eskom group treasurer

Eskom group treasurer André Pillay's departure follows close in the footsteps of Phakamani Hadebe, the utility's 12th CEO since 2007. (Photo: Twitter / @SAgovnews) With the departure of both Phakamani Hadebe and André Pillay, Eskom has lost key talent — both are specialists in the fixed income debt category. Pillay says he has been offered a job elsewhere.

Amplats' interim earnings receive boost from higher prices

A higher rand platinum group metals (PGMs) basket price and a R1-billion stock count adjustment gain have pushed PGMs producer Anglo American Platinum's (Amplats') earnings and headline earnings for the six months ended June 30, higher. In a revised trading update published on Tuesday, the miner said its headline earnings and headline earnings per share (HEPS) for the six months were likely to be between 108% and 128% higher year-on-year at R7-billion to R7.67-billion and 2 671c and 2 924c, respectively. Basic earnings are likely to increase by between 224% and 244% year-on-year to between R7.06-billion and R7.49-billion, while earnings a share are likely to increase to between 2 690c and 2 854c.

Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH

An investigation by law firm ENSafrica has found evidence of up to R1.2bn in "suspicious transactions" at JSE-listed ICT group EOH.  ENSafrica recently completed a forensic probe into the firm.  "To date the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited number of EOH employees," EOH said in an update to shareholders on Tuesday.  "Suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica. The exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or bribery and corruption payments." The ICT group has also made a copy of the interim report available on its website.  On Monday, before the report was made public, three top EOH executives announced their resignations. .

Black Business Council welcomes Patel's R40bn cash injection for black industrialists

The Black Industrialists Programme aims to unlock the potential of industrialists in key sectors of the economy. The Black Business Council (BBC) on Monday welcomed the allocation of R40 billion to support an additional 400 black industrialists in the Black Industrialists (BI) Programme over the next five years. During his budget vote debate in parliament last week Thursday, Minister of Trade, Industry and Economic Development Ebrahim Patel said the government would accelerate efforts to support black industrialists.

SAICWU, RCL Foods sign wage settlement agreement

The South African Industrial Commercial and Allied Workers Union (SAICWU) has reached a three-year multi-term wage deal with RCL Foods. The wage deal, effective from the start of June 2019 until the end of May 2022, is for workers at the RCL Foods Groceries Division in Randfontein. "The agreement provides increases on basic wages of 20 per cent in the first year, 10 per cent in the second year and another 10 per cent in the third year, with entry-level employees benefiting from higher percentage increases," said Simon Munyai, President of SAICWU.

African Markets - Factors to watch on July 16

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Tuesday. - - - - - GLOBAL MARKETS Asian shares inched up on Tuesday as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the world's biggest economy, with markets remaining focused on a likely U.S. rate cut by the end of the month.

EOH investigation finds evidence of tender irregularities and other unethical practices

Technology services company EOH is set to hold a press conference on Tuesday where it will publish the findings of an investigation into alleged corrupt practices. In February, Microsoft terminated longstanding partner agreements with EOH after a contract worth R120 million - awarded to subsidiary EOH Mthombo by the Department of Defence - was questioned. EOH Group chief executive officer Stephen van Coller penned an open letter in which he promised to clean up the business.

Local business shines

JOHANNESBURG - Waterfall Management Company has won the Best Mixed-use Development in South Africa 2019/2020 award for the Waterfall development at the International Property Awards held at the London Marriott Hotel Grosvenor Square on 12 June. The post appeared first on Midrand Reporter ..

Business Maverick: China's Growth Slides to Weakest Pace in Almost Three Decades

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Shop loses cigarettes worth R3 000 after business robbery

A shop on Ermelo Road was robbed just after opening last Friday morning. The shop owner was working with his assistant when he saw six suspects enter the store. Three of the suspects were armed with firearms and two were carrying knives.

South African Markets - Factors to watch on July 16

(Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Tuesday . ECONOMIC EVENTS - No major releases. COMPANIES - Full Year 2019 Tongaat Hulett Ltd Earnings Release - Half Year 2019 Group Five Earnings Release. SOUTH AFRICAN MARKETS South Africa's rand firmed on Monday as bets the Federal Reserve will cut interest rates next week continued to boost the currency in the absence of any local economic drivers, on a day dominated by ex-president Jacob Zuma's testimony at a graft inquiry. GLOBAL MARKETS The pound struggled near a six-month low against the dollar on Tuesday, hampered by persistent worries over Brexit that, in turn, weighed on the euro. WALL STREET The benchmark S&P 500 index ended little changed on Monday after oscillating between positive and negative territory throughout the session after Citigroup Inc C.N kicked off the earnings season with a mixed quarterly report. GOLD Gold prices held steady on Tuesday as investors awaited U.S. retail sales data that could serve as an indicator of the strength of the world's largest economy amid lingering concerns over global economic slowdown. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - President Ramaphosa seeks to stop public protector action against public enterprises minister Pravin Gordan - Energy Minister Mentashe says shutdown of nuclear medicine plant reckless and suspicious BUSINESS REPORT - Competition commission investigates telecoms firm Blue Label for disempowering small businesses - Nedbank CEO proposes cash injection and debt for equity swop to save Eskom 2019-07-16 07.

NEPI ROCKCASTLE PLC - Signature of non-binding letter of intent with regard to the disposal of an office portfolio

Signature of non-binding letter of intent with regard to the disposal of an office portfolio NEPI Rockcastle plc Incorporated and registered in the Isle of Man Registered number 014178V Share code: NRP ISIN: IM00BDD7WV31 ("NEPI Rockcastle" or "the Company") SIGNATURE OF NON-BINDING LETTER OF INTENT WITH REGARD TO THE DISPOSAL OF AN OFFICE PORTFOLIO Shareholders are referred to the Company's business update published on 24 May 2019, wherein NEPI Rockcastle advised, inter alia, that the Company had initiated an open tender process for the sale of its Romanian office portfolio in order to focus on its investment strategy, being core dominant retail properties. Shareholders are advised that NEPI Rockcastle has signed a non-binding letter of intent ("letter of intent") with AFI Europe NV ("AFI Europe"), a wholly-owned subsidiary of Africa Israel Properties Limited. In terms of the letter of intent, the Company has today granted AFI Europe exclusivity with regard to conducting a due diligence exercise in respect of four type A office buildings with a book value of EUR309.2 million at 31 December 2018 forming part of NEPI Rockcastle's Romanian office portfolio, for a period of eight weeks from the date of signature of the letter of intent. The letter of intent is non-binding in nature and any transaction would be subject to completion of a sale and purchase agreement and the fulfilment of numerous conditions, including receipt of bank financing and regulatory and shareholder approvals to the extent required.

BBC: The Black Business Council Welcomes The Announcement By DTI Minister On Black ...

The Black Business Council (BBC) welcomes the announcement by the Minister of Trade, Industry & Economic Development, Ebrahim Patel, during his budget speech that R40 billion will be allocated to the Black Industrialists (BI) Programme. The programme, which is seen as one of the key elements of the broad-based black economic empowerment (B-BBEE) and socio-economic transformation, aims to unlock the potential industrialists' companies in key sectors of the economy through deliberate target and well-defined financial and non-financial interventions. "The BI programme is a brainchild of the BBC and we believe that the extra funding will bring much-needed relief as well as to attempt to solve the biggest hurdles of our members - access to capital and markets" said BBC CEO, Kganki Matabane The BBC will work closely with Minister Patel and will take the learnings and  lessons from the initial BI programme in order to improve on enhancing the application process including turnaround times.

Business Maverick: Why This Year's Biggest IPO Didn't Happen

Anheuser-Busch InBev NV blamed market conditions for its decision to pull what would have been the world's biggest initial public offering this year. Yet the brewer should take at least some responsibility. This concoction was far too frothy for investors when Asian economies face an array of sobering realities.

Telcos need to diversify to transform their business

Communications service providers (CSPs) have seen the expectation of their customers evolve rapidly over the past 10 to 15 years, and simply being able to provide users with a fixed or mobile voice service and basic messaging is no longer enough in a modern, digital age that has seen a growing demand for varied and personalised offerings. This is according to Ahmad Sayed, regional head and vice-president: sales, Middle East and Africa at Nexign, Joint Stock Company, who adds that the change started with the advent of the internet, and the additional functionality that it enabled on end user devices - right from web browsing, and email, to more interactive forms of instant messaging. "We have now seen a revolution in the financial services industry, with CSPs starting to deliver many similar services in Africa.

Seven Questions Business Owners Should Ask Themselves At The Midyear Mark

By the midyear mark, businesses have six months of information to dictate where they need to reallocate resources and take corrective measures that will mitigate the impact of inefficiencies or ineffectiveness in the business during the second half of the year. This is according to Jeremy Lang, Regional General Manager at Business Partners Limited (BUSINESS/PARTNERS), one of Africa's leading risk financiers that has consistently approved over R1 billion rands in business loan finance per annum over the last five years. He says that in order to build strengths and eliminate weaknesses, business owners should ask themselves the following seven questions as the basis of a midyear review.

Mandela Day Food Can Mosaic @ Clearwater Mall- Join us

"Education is the most powerful weapon which you can use to change the world" ,  Nelson Mandela. Despite 25 years of democracy, South Africa is still at a crossroads in terms of how we educate our children.  HyProp, in collaboration with Rhodes Quality endeavours to provide education to poorer townships. This 4th year is no exception, and in true tribute to Mandela, they present to you the Mandela Day Food Can Mosaic -  a project aimed to help fund the LEAP schools ( a network of high schools in poor communities).

BUSINESS MAVERICK: Old Mutual's battle with Peter Moyo is not only about a conflict of interest

At the heart of the dispute between Old Mutual and sacked CEO Peter Moyo is NMT Capital, an investment firm Moyo co-founded with business titans Sango Ntsaluba and Thabiso Tlelai. Old Mutual is vexed that Moyo and other NMT shareholders wrongly pocketed dividends while the firm had outstanding preference share dividend payments to the insurer and debt obligations to the Industrial Development Corporation. NMT is potentially insolvent.

Moyo drags Rothschild's Kingston into Old Mutual battle

Axed CEO might subpoena Kingston to submit an affidavit about Trevor Manuel's ‘triple conflict of interest'. Ahead of Peter Moyo's appearance in court on Tuesday in his efforts to be reinstated as Old Mutual CEO and have his axing declared unlawful, he has dragged the executive chairman of Rothschild & Co Martin Kingston into his messy battle against the insurer. Until now, Moyo - who was suspended on May 23 on the grounds of "a material breakdown in the relationship of trust and confidence" and was dismissed on June 18 - has aimed his lawsuit at Old Mutual and its board chair Trevor Manuel. Read: Moyo says the insurer fired him without following proper disciplinary processes.

Zuma's Zondo song and dance; Eskom treasurer jumps ship; Zim inflation heads for 200%; China boosts rand

Former president Jacob Zuma appeared at the Zondo commission to discuss allegations of corruption and state capture. South Africa is abuzz with speculation about what Zuma's body language, regular coughs and his song and dance say about whether he is telling the truth. Andre Pillay, who joined Eskom in 2011 and was made treasurer in 2016, will leave at the end of August.

R4.3bn AYO deal blindsided Sithole

Abel Sithole, the principal executive officer of the Government Employees Pension Fund, said the Public Investment Corporation didn't involve or inform it when it made an investment in AYO Technology Solutions in December 2017. The Government Employees Pension Fund (GEPF), whose R1.8-trillion of government-worker pension funds are managed by the Public Investment Corporation (PIC), has suggested that it was blindsided by the fund manager's decision to invest a cool R4.3-billion in AYO Technology Solutions in December 2017.  Abel Sithole, the principal executive officer of the GEPF, testified on Monday 15 July at an inquiry into governance issues and impropriety at the PIC that the fund manager didn't involve or inform it when it made an investment in AYO. AYO is majority-owned by Sekunjalo Investments, which in turn is owned by Iqbal Survé, who is also the chair of the Sekunjalo Group.

Seven Questions Business Owners Should Ask Themselves At The Midyear Mark

By the midyear mark, businesses have six months of information to dictate where they need to reallocate resources and take corrective measures that will mitigate the impact of inefficiencies or ineffectiveness in the business during the second half of the year. This is according to Jeremy Lang, Regional General Manager at Business Partners Limited (BUSINESS/PARTNERS), one of Africa's leading risk financiers that has consistently approved over R1 billion rands in business loan finance per annum over the last five years. He says that in order to build strengths and eliminate weaknesses, business owners should ask themselves the following seven questions as the basis of a midyear review. Are the business's financial results reflective of the budget prepared at the beginning of the year? The strength of a business rests on its financial results and financial position which is reflected in the income statement, balance sheet and cashflow statement, so starting off by looking at the midyear results gives a good indication of the overall health of the business, explains Lang.

Business Maverick: China Economy Slips to Record Low Growth Amid Stabilizing Signs

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EOH HOLDINGS LIMITED - Update on the EOH investigations, including webcast invite and further cautionary announcement

EOH 201907160001A Update on the EOH investigations, including webcast invite and further cautionary announcement EOH HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/014669/06) JSE share code: EOH ISIN: ZAE000071072 (‘EOH' or ‘the Company') UPDATE ON THE EOH INVESTIGATIONS, INCLUDING WEBCAST INVITE AND FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the initial cautionary announcement released on SENS on 19 February 2019 and the further cautionary announcements released on 3 April 2019, 21 May 2019 and 3 July 2019, respectively. Following submission of a forensic report and its recommendations to the board of directors of EOH (the ‘Board'), the Board has assessed the findings of the ENSafrica report (‘ENS Report') and has prepared an interim update on the forensic investigation (‘Interim Update'). The Interim Update is available on the Company's website at https://www.eoh.co.za/media-room/ and a webcast will be hosted by the Company at 09h00 on Tuesday, 16 July 2019. Interested parties are requested to register their attendance at http://themediaframe.eu/links/eoh190606.html. To date, the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited number of EOH employees.

JSE set for mixed start on Tuesday as EOH gives update on probe

The JSE could open mixed on Tuesday, taking its cue from Asian markets, while technology group EOH is expected to provide feedback on a probe into its dealings with the state. US stocks edged slightly higher overnight to reach fresh records, with Citigroup kicking off reporting season with better-than-expected profits. Meanwhile, US officials said they may travel to China for face-to-face trade talks, days after China reported its slowest rate of economic growth in nearly three decades partly because of the trade spat between the two countries. Financial markets have reacted to the economic slowdown with "relative calm" amid heightened speculation for further policy stimulus in the world's second largest economy, analysts at Singapore's OCBC Bank said in a note. Asian markets were mixed on Tuesday. China's major stock indices were slightly lower, while Hong Kong's Hang Seng Index was flat. Japan's Nikkei 225 was 0.7% lower, though Korea's Kospi added 0.2%. Australia's main benchmark was flat. Chinese internet and gaming company Tencent rose 0.7% in Hong Kong, suggesting a positive start for major shareholder Naspers, which is Africa's biggest public company, thanks to that investment. JSE-heavyweight BHP Group was 0.6% higher in Australia. While no major company results are expected locally on Tuesday, EOH is due to provide feedback to the market on ENSafrica's review of all the technology company's large, historical licensing contracts with the state. This comes as EOH, led by new CEO Stephen van Coller, takes measures to restore its reputation — and market valuation — following concerns about its government contracts. Microsoft recently cut ties with the technology company, allegedly because of a tip-off about a contract it had with SA's defence department. EOH said early on Tuesday, ahead of a presentation to investors, that "suspicious transactions" worth R1.2bn had been identified and are being investigated by ENSafrica. "The exact nature of each of these transactions has not as y

EOH says ENS probe finds evidence of serious governance failings

Technology group EOH said on Tuesday an investigation by ENS had found evidence of serious governance failings and wrongdoing at the company, including unsubstantiated payments, tender irregularities and other unethical business dealings primarily limited to public sector business run from its head office as well as EOH Mthombo and a limited number of now-former employees. "The employment relationship with EOH has been terminated with individuals who have been directly implicated in the identified wrongdoing," it said in a statement, adding that it had reported the concerns and the details of the parties implicated to the Directorate for Priority Crimes Investigation, known as the Hawks. "EOH is committed to ensuring that all perpetrators of wrongdoing are brought to justice.

Probe unearths ‘serious wrongdoing' at EOH

An investigation by law firm ENSafrica has unearthed "evidence of serious governance failings and wrongdoing at EOH", the JSE-listed technology services group said on Tuesday. The probe, requested by EOH Holdings CEO Stephen van Coller in February in the wake of allegations of irregularities involving the supply of Microsoft software to the South African department of defence, found serious problems in EOH's public sector business run from the group's head office as well as similar issues at subsidiary EOH Mthombo. These include "unsubstantiated payments, tender irregularities and other unethical business dealings".

Africa Gateway offers key business Insights

The Dubai Chamber of Commerce and Industry (Dubai Chamber) has announced the launch of a new website that delivers key insights into the burgeoning markets of Africa. Titled ‘Africa Gateway,' the online portal acts as a rich knowledge resource designed to equip users with essential information on the most promising countries in the continent to do business, with statistics, strengths and weaknesses, challenges and opportunities the main elements. Accessed via Dubai Chamber's website at https://africagateway.dubaichamber.com/ , Africa Gateway currently provides an extensive business overview of 10 African countries; Angola, Côte d'Ivoire, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Africa, Tanzania and Uganda, with more countries to be added in future upgrades.

NTVUganda has added BUSINESS UPDATE video

BUSINESS UPDATE #NTVNews Subscribe to Our Channel For more news visit http://www.ntv.co.ug Follow us on Twitter http://www.twitter.com/ntvuganda Like our Facebook page https://ift.tt/1bbEIWm.

Bidvest enters deal to buy Eqstra Fleet Management and Logistics

DURBAN - THE BIDVEST group has said that it had entered into an agreement to buy Eqstra Fleet Management and Logistics (Eqstra) from enX for a reported R3.1 billion.  The group said the 100 percent purchase of Eqstra would include an equity value of R1.3bn. It said the acquisition remained subject to approval from enX shareholders, the Prudential Authority and the Competition Commission.  Bidvest said it planned to have the transaction concluded before the end of the year. It said the purchase was in line with its stated strategic intent to focus Bidvest Bank on its fleet management niche.

ANGLO AMERICAN PLATINUM LIMITED - Updated Trading Statement for the six months ended 30 June 2019

AMS 201907160006A Updated Trading Statement for the six months ended 30 June 2019 ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 (‘Anglo American Platinum' or ‘the Company') Updated Trading Statement for the six months ended 30 June 2019 Anglo American Platinum will release results for the six months ended 30 June 2019 (‘the period') on the Johannesburg Stock Exchange News Service (‘SENS') on 22 July 2019. Shareholders are referred to the Company's trading statement released on SENS on 25 June 2019 in which the Company advised that headline earnings and headline earnings per share (‘HEPS') for the period were expected to be at least 80% (R2.690 billion or 1,025 cents per share, respectively) higher than that reported for the six months ended 30 June 2018 (‘the comparative period') and that basic earnings and basic earnings per share (‘EPS') for the period were also expected to be at least 180% (R3.922 billion or 1,496 cents per share, respectively) higher than for the comparative period. Shareholders are advised that headline earnings for the period is likely to increase to between R7.005 billion and R7.670 billion, (an increase of between 108% and 128% compared to the comparative period figure of R3.363 billion). HEPS for the period is likely to increase to between 2,671 cents and 2,924 cents per share (an increase of between 108% and 128% compared to the comparative period figure of 1,282 cents). Basic earnings for the period is likely to increase to a profit of between R7.055 billion and R7.485 billion (an increase of between 224% and 244% compared to the comparative period figure of a R2.179 billion). EPS for the period is likely to increase to between 2,690 cents and 2,854 cents per share (an increase of between 224% and 243% compared to the comparative period figure of 831 cents). The expected increase in headline earnings and basic earnings is due to a higher ZAR PG

EOH says bribery, corruption limited to a few individuals, subsidiaries

JSE-listed information technology services company EOH on Tuesday revealed the preliminary findings of a forensic investigation conducted by legal firm ENSafrica into suspected bribery and corruption at the R18-billion-a-year-turnover company. EOH CEO Stephen van Coller said the scale of the bribery, corruption and inflated payments was found to have been about R1.2-billion and principally took place between 2014 and 2017. It mainly involved eight former EOH head office employees and public sector subsidiary EOH Mthombo.

Snake found outside business in Ladysmith

A very unusual ‘customer' rocked up at a business in Francis Road on Monday morning, July 8. When employees arrived at work, they saw a snake outside the front door. No one could get into the business, so there was no choice but to contact local snake expert Fanie Cilliers.

LIVE: EOH CEO Stephen van Coller unpacks corruption probe

Stephen van Coller EOH Holdings CEO will hold a media call at 9am on Tuesday to discuss the interim findings of an investigation by law firm ENSafrica into alleged corruption involving the IT group's public sector contracts. The investigation has unearthed "evidence of serious governance failings and wrongdoing at EOH", the JSE-listed group said. These include "unsubstantiated payments, tender irregularities and other unethical business dealings".

Business Maverick: Bitcoin Tumbles as Trump Critique Tests Stellar Run for 2019

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Major corruption unearthed at EOH

EOH Holdings has released the results of an investigation by ENSafrica into corruption at the company, stating that "evidence of serious governance failings and wrongdoing" was discovered at the company. The probe was requested by EOH CEO Stephen van Coller earlier this year, following reports of irregularities in the supply of Microsoft software to the South African government. ENSafrica discovered evidence of tender irregularities, EOH employees conspiring with preferred suppliers to inflate software licence sales, and inappropriate sponsorships and donations. Payments of R1.2 billion to 78 supplier entities are being investigated by the company to determine whether appropriate work was done for services rendered. EOH said it has terminated the employment of individuals directly involved in irregular activities. This announcement follows less than one day after the "The employment relationship with EOH has been terminated with individuals who have been directly implicated in the identified wrongdoing," EOH stated. The company added that it has reported the implicated parties to the Hawks and instructed ENSafrica to initiate criminal charges against the perpetrators to recover losses. "In light of these findings, the Group is documenting and developing a comprehensive remediation plan," EOH said. "A number of remediation measures have already been implemented and others will follow in due course.".

EOH says probe found ‘suspicious transactions' worth R1.2bn

The technology group says an ENSafrica investigation has found evidence ‘of a number of governance failings and wrongdoings at the company' EOH, which announced on Monday that three long-serving executives had resigned, says a probe into its past dealings with the government uncovered "suspicious transactions" worth R1.2bn. New CEO Stephen van Coller said in February the company had hired law firm ENSafrica (ENS) to review all its large, historical licensing contracts with the state. This came shortly after Microsoft cut ties with the technology group, allegedly because of a tip-off about a contract it had with SA's defence department. That added to EOH's reputational woes, following numerous other allegations about its government contracts. EOH said ahead of a presentation to shareholders on Tuesday morning that the ENSafrica investigation had found evidence "of a number of governance failings and wrongdoings at EOH". These included unsubstantiated payments, tender irregularities and "other unethical business practices", mainly within the public-sector business operated by EOH Mthombo, and by "a limited number of EOH employees". "Suspicious transactions of R1.2bn have been identified and are being investigated by ENSafrica. The exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or, bribery and corruption payments," EOH said. ENSafrica would provide the company with bimonthly updates, which would be used for further investigations and remedial work. EOH will continue to assess the financial effect of the findings, it said. On Monday, EOH said that Pumeza Bam, a nonexecutive director; Zunaid Mayet, executive director and former group CEO, and CEO of subsidiary Nextec; and Rob Godlonton, executive director and CEO of EOH's ICT business, had resigned from the company. hedleyn@businesslive.co.za.

NEPI ROCKCASTLE PLC - Signature of non-binding letter of intent with regard to the disposal of an office portfolio

NRP 201907160008A Signature of non-binding letter of intent with regard to the disposal of an office portfolio NEPI Rockcastle plc Incorporated and registered in the Isle of Man Registered number 014178V Share code: NRP ISIN: IM00BDD7WV31 (‘NEPI Rockcastle' or ‘the Company') SIGNATURE OF NON-BINDING LETTER OF INTENT WITH REGARD TO THE DISPOSAL OF AN OFFICE PORTFOLIO Shareholders are referred to the Company's business update published on 24 May 2019, wherein NEPI Rockcastle advised, inter alia, that the Company had initiated an open tender process for the sale of its Romanian office portfolio in order to focus on its investment strategy, being core dominant retail properties. Shareholders are advised that NEPI Rockcastle has signed a non-binding letter of intent (‘letter of intent') with AFI Europe NV (‘AFI Europe'), a wholly-owned subsidiary of Africa Israel Properties Limited. In terms of the letter of intent, the Company has today granted AFI Europe exclusivity with regard to conducting a due diligence exercise in respect of four type A office buildings with a book value of EUR309.2 million at 31 December 2018 forming part of NEPI Rockcastle's Romanian office portfolio, for a period of eight weeks from the date of signature of the letter of intent. The letter of intent is non-binding in nature and any transaction would be subject to completion of a sale and purchase agreement and the fulfilment of numerous conditions, including receipt of bank financing and regulatory and shareholder approvals to the extent required.

EOH HOLDINGS LIMITED - Update on the EOH investigations, including webcast invite and further cautionary announcement

Update on the EOH investigations, including webcast invite and further cautionary announcement EOH HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1998/014669/06) JSE share code: EOH ISIN: ZAE000071072 ("EOH" or "the Company") UPDATE ON THE EOH INVESTIGATIONS, INCLUDING WEBCAST INVITE AND FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the initial cautionary announcement released on SENS on 19 February 2019 and the further cautionary announcements released on 3 April 2019, 21 May 2019 and 3 July 2019, respectively. Following submission of a forensic report and its recommendations to the board of directors of EOH (the "Board"), the Board has assessed the findings of the ENSafrica report ("ENS Report") and has prepared an interim update on the forensic investigation ("Interim Update"). The Interim Update is available on the Company's website at https://www.eoh.co.za/media-room/ and a webcast will be hosted by the Company at 09h00 on Tuesday, 16 July 2019. Interested parties are requested to register their attendance at http://themediaframe.eu/links/eoh190606.html. To date, the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited number of EOH employees.

ANGLO AMERICAN PLATINUM LIMITED - Updated Trading Statement for the six months ended 30 June 2019

ANGLO AMERICAN PLATINUM LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1946/022452/06) Share Code: AMS ISIN: ZAE000013181 ("Anglo American Platinum" or "the Company") Updated Trading Statement for the six months ended 30 June 2019 Anglo American Platinum will release results for the six months ended 30 June 2019 ("the period") on the Johannesburg Stock Exchange News Service ("SENS") on 22 July 2019. Shareholders are referred to the Company's trading statement released on SENS on 25 June 2019 in which the Company advised that headline earnings and headline earnings per share ("HEPS") for the period were expected to be at least 80% (R2.690 billion or 1,025 cents per share, respectively) higher than that reported for the six months ended 30 June 2018 ("the comparative period") and that basic earnings and basic earnings per share ("EPS") for the period were also expected to be at least 180% (R3.922 billion or 1,496 cents per share, respectively) higher than for the comparative period. Shareholders are advised that headline earnings for the period is likely to increase to between R7.005 billion and R7.670 billion, (an increase of between 108% and 128% compared to the comparative period figure of R3.363 billion). HEPS for the period is likely to increase to between 2,671 cents and 2,924 cents per share (an increase of between 108% and 128% compared to the comparative period figure of 1,282 cents). Basic earnings for the period is likely to increase to a profit of between R7.055 billion and R7.485 billion (an increase of between 224% and 244% compared to the comparative period figure of a R2.179 billion). EPS for the period is likely to increase to between 2,690 cents and 2,854 cents per share (an increase of between 224% and 243% compared to the comparative period figure of 831 cents). The expected increase in headline earnings and basic earnings is due to a higher ZAR PGM basket price, and a stock count adjustment gain of R1.0 billion in the period compared to a st

Amplats to take interim earnings up as much 128% on improved PGM prices

THE improvement in the rand basket price of platinum group metals (PGM) would help propel Anglo American Platinum (Amplats) to interim headline earnings of R7bn to R7.7bn - an increase as high as 128% year-on-year. Commenting in a trading update today issued on the Johannesburg Stock Exchange, Amplats added that a stock count adjustment gain of R1bn in the period compared to a stock count adjustment loss of R500m would also play a role in the earnings number. The previous six month reporting period was also hit with a number of exceptional items including accounting losses on the sale of its 33% stake in Royal Bafokeng Holdings of some R600m and an R800m accounting loss following the sale of its Union Mine and MASA Chrome which it sold to Siyanda Resources for R400m in February 2017.

EMERGING MARKETS-EM assets edge higher ahead of U.S. data

By Agamoni Ghosh July 16 (Reuters) - Emerging markets assets crept higher on Tuesday as investors stayed on the sidelines ahead of U.S. economic data that could provide clues for future monetary policy.MSCI's emerging market index tracking equities .MSCIEF was marginally higher, lifted by gains in Asian heavyweights Hong Kong .HSI , South Korea .KS11 and Taiwan .TWII . Mainland China shares .CSI300 .SSEC however, closed lower as investors fretted over slower growth in the world's second-largest economy and the impact of the Sino-U.S. trade war, even as Beijing ramped up stimulus efforts.

GLOBAL MARKETS-Asian shares creep higher as wary investors await U.S. data, earnings

(Corrects day of week in first paragraph to Tuesday from Monday) * MSCI Asia ex-Japan +0.25%; Nikkei -0.69% * European shares seen mainly weaker at the open * U.S. retail sales data in focus * Citigroup interest margin decline highlights headwinds for banks * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, July 16 (Reuters) - Most Asian stock markets rose on Tuesday, but gains were limited as investors awaited U.S. retail sales data and corporate earnings to gauge the health of the world's biggest economy ahead of a likely U.S. rate cut later this month. European markets looked set for an equally cautious session, with pan-region Euro Stoxx 50 futures down 0.14% in early trade. German DAX futures were up 0.04%, FTSE futures were down 0.18%, and financial spreadbetters saw France's CAC 40 opening flat. MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.3%, with losses in Chinese shares capping gains elsewhere in the region. China's blue-chip CSI300 index fell 0.3% as investors fretted over slower growth in the world's second-largest economy and the impact of the Sino-U.S.

Johann Rupert: How Zuma implicated one of SA's richest men in state capture

Jacob Zuma certainly didn't take any prisoners during his first day at the State Capture Inquiry. The former president named names and called out several of his former colleagues for wrongdoing . Through stories of espionage and assassinations, Msholozi gave an impassioned defence - and even implicated Johann Rupert.

Probe reveals R1.2bn suspicious transactions at EOH

Law firm ENSAfrica has found evidence of a number of governance failings and wrongdoing at EOH.ENSAfrica was requested to conduct a proactive comprehensive investigation into EOH contracts to identify any wrongdoing or criminal conduct in the acquisition award or execution of contracts.According to EOH ENSAfrica has had unfettered access to all information financial records and other documentation required for the purposes of conducting this investigation.EOHs problems surfaced after software giant Microsoft in February terminated its contract with the IT services company after an anonymous whistleblower reportedly filed a complaint with the United States Securities and Exchange Commission about alleged malfeasance to do with a R120 million contract with the SA Department of Defence.Last night the company announced the resignations of top executives Pumeza Bam; executive director and CEO of EOH subsidiary Nextec Zunaid Mayet; and executive director and CEO of EOHs ICT business Rob Godlonton.Over the past year the companys stock has plummeted 71.9% and its market cap is now sitting at around R3 billion.Governance failingsIn a statement EOH says to date the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH including unsubstantiated payments tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo and to a limited number of EOH employees.It adds that suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica.The exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions theft or bribery and corruption payments the company says.ENSafrica will provide the company with bimonthly updates which will in turn inform areas for further investigation and remedial work. EOH will continue to assess the financial impact of the findings the company says.Accordingly it notes

JSE set for mixed start on Tuesday as EOH gives update on probe

The JSE could open mixed on Tuesday, taking its cue from Asian markets, while technology group EOH is expected to provide feedback on a probe into its dealings with the state. US stocks edged slightly higher overnight to reach fresh records, with Citigroup kicking off reporting season with better-than-expected profits. Meanwhile, US officials said they may travel to China for face-to-face trade talks, days after China reported its slowest rate of economic growth in nearly three decades partly because of the trade spat between the two countries. Financial markets have reacted to the economic slowdown with "relative calm" amid heightened speculation for further policy stimulus in the world's second largest economy, analysts at Singapore's OCBC Bank said in a note. Asian markets were mixed on Tuesday. China's major stock indices were slightly lower, while Hong Kong's Hang Seng Index was flat. Japan's Nikkei 225 was 0.7% lower, though Korea's Kospi added 0.2%. Australia's main benchmark was flat. Chinese internet and gaming company Tencent rose 0.7% in Hong Kong, suggesting a positive start for major shareholder Naspers, which is Africa's biggest public company, thanks to that investment. JSE-heavyweight BHP Group was 0.6% higher in Australia. While no major company results are expected locally on Tuesday, EOH is due to provide feedback to the market on ENSafrica's review of all the technology company's large, historical licensing contracts with the state. This comes as EOH, led by new CEO Stephen van Coller, takes measures to restore its reputation — and market valuation — following concerns about its government contracts. Microsoft recently cut ties with the technology company, allegedly because of a tip-off about a contract it had with SA's defence department. EOH said early on Tuesday, ahead of a presentation to investors, that "suspicious transactions" worth R1.2bn had been identified and are being investigated by ENSafrica. "The exact nature of each of these transactions has not as y

GLOBAL MARKETS-Asian shares tick up, U.S. data, earnings in focus ahead of Fed

* MSCI Asia ex-Japan +0.04% * U.S. retail sales data in focus * Citigroup interest margin decline highlights headwinds for banks * Asian stock markets: tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, July 16 (Reuters) - Asian shares inched up on Tuesday as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the world's biggest economy, with markets remaining focused on a likely U.S.

#PICInquiry: Matjila denies funding business that Nene junior had interest in

JOHANNESBURG   The former head of the Public Investment Corporation (PIC) has denied allegations that during his tenure the stateowned asset manager funded a business which Siyabonga Nene the son of former Finance Minister Nhlanhla Nene had a vested interest in and that his father had influenced the deal. Matjila continued his testimony on Tuesday at the Commission of Inquiry into alleged wrongdoing at the PIC  where he gave further insight on the organisations dealings with several companies including among others Ascendis Health S&S Refinery Steinhoff and Lancaster. Matjila said it was not the PICs policy to fund BEE transactions outside the country saying Nene junior and his partner Ameer Mirzas shareholding in the oil company known as S&S Refinery was to be vendor financed by the sponsor of the transaction and not by the PIC.  According to Matjila Nene had introduced his son Siyabonga during his stint as chairman of the PIC and it is during that time that he first heard about S&S Refinery.

Largest brewer's IPO turns sour

DURBAN - The share price of Anheuser-Busch InBev (AB InBev) fell almost 2percent on the JSE after the brewer announced that it was not proceeding with the initial public offering (IPO) of a minority stake in its Asia-Pacific subsidiary, Budweiser Brewing Company Apac on the Hong Kong Stock Exchange. The world's largest brewer said it shelved the IPO of its Asian business on Friday due to several factors, which included the prevailing market conditions. A successful IPO would have given Budweiser Apac a market capitalisation of roughly $54billion (R752.35bn) to $64bn, according to market analysts.

ENX CORPORATION LIMITED - BIEQS1 - Notice to Bondholders regarding an Announcement Released by Enx Group in relation to the

ENX01 ENX01S EQS10 ENX05 ENX02 ENX06 ENX04 EQS06 201907160024A BIEQS1 - Notice to Bondholders regarding an Announcement Released by Enx Group in relation to the Transaction enX Corporation Limited (Incorporated in the Republic of South Africa) (Registration No. 1984/007045/06) Company code: BIEQS1 (‘enX' or ‘the Issuer') NOTICE TO BONDHOLDERS REGARDING AN ANNOUNCEMENT RELEASED BY ENX GROUP LIMITED IN RELATION TO THE DIVESTMENT OF EQSTRA FLEET MANAGEMENT AND LOGISTICS Bondholders are referred to the announcement released by enX Group Limited, a guarantor to the Issuer's ZAR 4 000 000 000 Domestic Medium Term Note Programme (‘Programme'), (‘enX Group') on SENS on Monday, 15 July 2019, which related to the divestment of the Eqstra Fleet Management and Logistics business (‘EFML') (‘Disposal Announcement'). The Disposal Announcement confirmed that the enX Group board of directors had entered a definitive subscription agreement with Bidvest Bank Limited and the Bidvest Group Limited (collectively referred to as ‘Bidvest') for the divestment of certain legal entities in which the EFML business is conducted (‘the Transaction'). Impact of the Transaction on bondholders: Some of the entities to be sold as part of the Transaction are subsidiary guarantors to the Programme. As such, the disposal of these entities constitutes an amendment to the Subsidiary Guarantee (as defined in the Programme), which amendment will require approval from bondholders. In addition, certain conditions precedent to the Transaction require that all outstanding notes issued in terms of the Programme are redeemed and that the Programme is terminated. The pricing supplements (‘Relevant Pricing Supplements') of the EQS06, EQS10, ENX01 and ENX01S notes (‘Relevant Notes') do not include an option for the Issuer to early redeem the Relevant Notes and therefore require an amendment to the Relevant Pricing Supplements to achieve this.

#PICInquiry: Matjila denies claims of funding business that Nene junior had interest in

JOHANNESBURG   The former head of the Public Investment Corporation (PIC) has denied allegations that during his tenure the stateowned asset manager funded a business which Siyabonga Nene the son of former Finance Minister Nhlanhla Nene had a vested interest in and that his father had influenced the deal. Matjila continued his testimony on Tuesday at the Commission of Inquiry into alleged wrongdoing at the PIC  where he gave further insight on the organisations dealings with several companies including among others Ascendis Health S&S Refinery Steinhoff and Lancaster. Matjila said it was not the PICs policy to fund BEE transactions outside the country saying Nene junior and his partner Ameer Mirzas shareholding in the oil company known as S&S Refinery was to be vendor financed by the sponsor of the transaction and not by the PIC.  According to Matjila Nene had introduced his son Siyabonga during his stint as chairman of the PIC and it is during that time that he first heard about S&S Refinery.

Officials in hot water for doing business with state

HUNDREDS of public servants appear to have not heeded the instruction to stop doing business with the state. And in response to this contravention, the Department of Public Service and Administration (DPSA) has handed 20 names of officials to police, and they could soon be arrested. The department passed regulations prohibiting public servants from doing any form of business with the state in 2016.

It's time for telcos to diversify their business

Communications service providers (CSPs) have seen the expectation of their customers evolve rapidly over the past 10-15 years, and simply being able to provide users with a fixed or mobile voice service and basic messaging is no longer enough in a modern, digital age that has seen a growing demand for varied and personalised offerings. Ahmad Sayed, Regional Director MEA - Nexign Joint Stock Company This is according to Ahmad Sayed, regional head and vice president of sales for Middle East and Africa at Nexign, Joint Stock Company, who adds that the change started with the advent of the internet, and the additional functionality that it enabled on end-user devices - right from web browsing, and email, to more interactive forms of instant messaging. "We have now seen a revolution in the financial services industry, with CSPs starting to deliver many similar services in Africa.

REDEFINE PROPERTIES LIMITED - Interest rate reset: RDFC45

Interest rate reset: RDFC45 REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration no: 1999/018591/06) Company code: BIRDF ISIN: ZAG000154766 (Approved as a REIT by the JSE) INTEREST RATE RESET - RDFC45 Notice is hereby given that the 3 month JIBAR rate as at 16 July 2019 is 7% p.a. ("JIBAR"). Accordingly, the next interest payment, payable on 16 October 2019 (Following Business Day*), for the period 16 July 2019 to 15 October 2019, will be calculated based on a rate of 7.92% p.a. (92 bps over JIBAR). * When the interest payment date falls on a non-business day, such interest payment will be paid on the first business day after the weekend or public holiday. Next reset date: 16 October 2019. 16 July 2019 Debt sponsor Java Capital Date: 16/07/2019 03:45:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

In Steinhoff's footsteps; Tongaat seeks payments freeze on R11bn debt

(Bloomberg) - Tongaat Hulett Ltd . is asking 10 lenders for a break from payments on as much as R11bn ($793m) of debt so it can recover from the impact of having to restate accounts, according to Chief Executive Officer Gavin Hudson . The embattled South African sugar maker is spending about R1bn a year servicing the borrowings and is looking to negotiate a freeze by the end of July, Hudson said in an interview at Tongaat's 19th century Durban headquarters, an old farmhouse surrounded by sugar-cane fields.

Vodacom Business appoints new agency

Mortimer Harvey (MH) has been appointed as the creative agency partner for Vodacom Business. "Our aim is to increase Vodacom 's brand perception dramatically and ensure that its presence and products are always top of mind for both existing and future customers," says Katlego Moutlana , MH executive head of strategy. — Sign up now for the MarkLives newsletter , including Ramify.biz headlines , emailed every Monday, Wednesday and Friday!.

PIC did not invest in Nene Jr's business, Matjila says

The Public Investment Corporation (PIC) did not fund the business of Siyabonga Nene , the son of former finance minister Nhlanhla Nene, according to the state asset manager's former chief executive, Dan Matjila. Siyabonga Nene and his business partner Ameer Mizra approached the PIC in 2014 requesting $29.25-million for a 50% black employment equity (BEE) stake in a Mozambican palm oil refinery, S&S Refinery. READ MORE: The finance minister, his son and the Mozambican refinery Matjila says that he knew of Nene's son as they were first introduced when the former finance minister was the chairman of the PIC.

‘Investigate all companies doing business with State,' says Magashule

An investigation into all private companies that do business with the South African government is long overdue, said African National Congress (ANC) secretary-general Ace Magashule. Speaking to reporters on the sidelines of the state capture commission of inquiry on Tuesday, Magashule said the controversial Gupta family has been targeted while other companies are never probed. "I do not know why South Africa is not actually investigating every company which has done work with government.

Five minutes with designer Sifiso Shange, the trailblazing preservationist This culturally conscious furniture designer tell

Sifiso Shange is a name that has risen quickly in design-loving circles. This young furniture designer and founder of Afri Modern is fundamentally a storyteller who uses his Zulu identity to create clean-lined, contemporary pieces that reference African culture. Using motifs that are rooted in beadwork, symbolism and tribal narratives, his servers, cabinets and side tables bring meaning to the coolest of pads.

Investing to beat the markets

Achieving success as an investor in today's market may feel like a gambler's game. But, according to Maria Konnikova, renowned international guest speaker at this year's Allan Gray Investment Summit, it is possible beat the market if you master key skills. Achieving investment success in today's world is uncertain, given that markets in the last decade have been extremely volatile.

Rwanda: Kigali to Host Inaugural Global Business Forum Next Month

[New Times] High-level investors and policymakers from across the globe will next month gather in Kigali for the Global Business Forum (GBF) slated for August 9 at Kigali Convention Centre to discuss how the private sector can increase its contribution to the socio-economic development of the continent..

The Foschini Group - the notable exception in SA

The Investment Analyst Society recently presented an Analysts Masterclass with an emphasis on the retail and consumer goods sector of the JSE. Much insight was provided by veteran analysts Syd Vianello and Chris Gilmour, featured on the panel discussion. They unpacked several topics like the size and diversity of the sector, the impact of foreign players, consumer behaviour, and retail companies venturing offshore, and notably into Australia, often terminating these ventures in the graveyard.  Early 2018 retail stocks had a rally on the JSE, and share prices rose substantially thanks to the momentum created by Cyril Ramaphosa's ascent to the presidency.

Black Business Council welcomes Patel's R40bn cash injection for black industrialists

The Black Business Council (BBC) on Monday welcomed the allocation of R40 billion to support an additional 400 black industrialists in the Black Industrialists (BI) Programme over the next five years. During his budget vote debate in parliament last week Thursday, Minister of Trade, Industry and Economic Development Ebrahim Patel said the government would accelerate efforts to support black industrialists. "To enhance the growth of black industrialists, we will combine the efforts of the department, the IDC [Industrial Development Corporation] and the NEF [National Empowerment Fund] into a seamless and co-ordinated programme," Patel said.

Probe unearths ‘serious wrongdoing' at EOH

An investigation by law firm ENSafrica has unearthed "evidence of serious governance failings and wrongdoing at EOH", the JSE-listed technology services group said on Tuesday. The probe, requested by EOH Holdings CEO Stephen van Coller in February in the wake of allegations of irregularities involving the supply of Microsoft software to the South African department of defence, found serious problems in EOH's public sector business run from the group's head office as well as similar issues at subsidiary EOH Mthombo. These include "unsubstantiated payments, tender irregularities and other unethical business dealings".

BRIEF-Eoh Says ENSafrica Investigation Found Suspicious Transactions Of R1.2 Bln

July 16 (Reuters) - Eoh Holdings Ltd EOHJ.J : * UPDATE ON THE EOH INVESTIGATIONS, INCLUDING WEBCAST INVITE AND FURTHER CAUTIONARY ANNOUNCEMENT * TO DATE, ENSAFRICA INVESTIGATION HAS FOUND EVIDENCE OF A NUMBER OF GOVERNANCE FAILINGS AND WRONGDOING AT EOH * SUSPICIOUS TRANSACTIONS OF R1.2 BILLION HAVE BEEN IDENTIFIED AND ARE BEING INVESTIGATED BY ENSAFRICA * ENSAFRICA WILL PROVIDE COMPANY WITH BI-MONTHLY UPDATES WHICH WILL IN TURN INFORM AREAS FOR FURTHER INVESTIGATION AND REMEDIAL WORK * EXACT NATURE OF EACH TRANSACTION NOT YET BEEN VERIFIED AND MAY RELATE TO "LEGITIMATE TRANSACTIONS, THEFT OR BRIBERY AND CORRUPTION PAYMENTS".

Higher PGM basket price to see Amplats interim earnings rise more than 100 pct

JOHANNESBURG - Anglo American Platinum (Amplats) said on Tuesday it expected to report hefty earnings for the six months ending 30 June due to a higher platinum group metals (PGM) basket rand price. Amplats said headline earnings for the period were likely to be between R7.005 billion and R7.670 billion, a 108 percent to 128 percent increase from R3.363 billion. As a result, headline earnings per share for the period -- the main measure of profitability used by South African companies -- would likely rise to 2,671 - 2,924 cents per share, up from 1,282 cents last year.  Basic earnings were expected to be between 2,690 cents and 2,854 cents per share, up from 831 cents during the same period last year.

Today is not a great day says EOH CEO

EOH Group CEO Stephen van Coller has blamed eight people in the company for the corruption scandal that hit the JSElisted IT services company.This morning Van Coller held a press briefing announcing the results of an ENSAfrica probe into the companys shady dealings.EOH asked ENSAfrica to conduct a proactive comprehensive investigation into EOH contracts to identify any wrongdoing or criminal conduct in the acquisition award or execution of contracts.The IT services company says from the probe suspicious transactions of R1.2 billion have been identified and are being investigated by ENSafrica.Today is not a great day. Its fairly devastating when you join a business and then you have to go through the process that we have just gone through over the last five months. I would never wish it on my worst enemies Van Coller said.Van Collers press conference came a day after the resignations of top executives Pumeza Bam; executive director and CEO of EOH subsidiary Nextec Zunaid Mayet; and executive director and CEO of EOHs ICT business Rob Godlonton.From the resignations some believed the three were going to be implicated in the ENS report today.However Van Coller lauded the trio for amazing leadership qualities.I would like to deal with the announcement that went out last night for Zunaid Rob and Pumeza.

Higher PGM basket price to see Amplats interim earnings rise more than 100%

JOHANNESBURG  Anglo American Platinum (Amplats) said on Tuesday it expected to report hefty earnings for the six months ending 30 June due to a higher platinum group metals (PGM) basket rand price.Amplats said headline earnings for the period were likely to be between R7.005 billion and R7.670 billion a 108 percent to 128 percent increase from R3.363 billion.As a result headline earnings per share for the period the main measure of profitability used by South African companies would likely rise to 2671 2924 cents per share up from 1282 cents last year. Basic earnings were expected to be between 2690 cents and 2854 cents per share up from 831 cents during the same period last year.Amplats said the expected increase in earnings was due to a higher PGM basket price and a stock count adjustment gain of R1 billion in the period compared to a stock count adjustment loss of R0.5 billion previously. African News Agency (ANA) .

Higher PGM basket price to see Amplats interim earnings rise more than 100 pct

JOHANNESBURG  Anglo American Platinum (Amplats) said on Tuesday it expected to report hefty earnings for the six months ending 30 June due to a higher platinum group metals (PGM) basket rand price.Amplats said headline earnings for the period were likely to be between R7.005 billion and R7.670 billion a 108 percent to 128 percent increase from R3.363 billion.As a result headline earnings per share for the period the main measure of profitability used by South African companies would likely rise to 2671 2924 cents per share up from 1282 cents last year. Basic earnings were expected to be between 2690 cents and 2854 cents per share up from 831 cents during the same period last year.Amplats said the expected increase in earnings was due to a higher PGM basket price and a stock count adjustment gain of R1 billion in the period compared to a stock count adjustment loss of R0.5 billion previously. African News Agency (ANA) .

Small business can survive in a downward economy

During an economic recession or downturn, small businesses are often hit the hardest. Budget constraints, reduced spending power and inadequate preparedness for a recession can make it impossible for a small business to survive. Some industries are affected more than others, and typically luxury services suffer first as both business and private customers cut back on spending.

Kaizer Chiefs boss Kaizer Motaung joins fans in mourning Marc Batchelor

Kaizer Motaung joined the many whose lives were touched by Marc Batchelor in mourning the former footballer's death on Tuesday. Batchelor was gunned down outside his Johannesburg home on Monday night and police have confirmed they are on the hunt for two suspects who were spotted on motorbikes fleeing the scene. "I am shocked to learn about the passing of former Kaizer Chiefs player Marc Batchelor‚" the Kaizer Chiefs boss said on Tuesday.

#PICInquiry: Matjila denies claims of funding business that Nene junior had interest in

JOHANNESBURG -  The former head of the Public Investment Corporation (PIC), has denied allegations that during his tenure, the state-owned asset manager funded a business, which Siyabonga Nene, the son of former Finance Minister Nhlanhla Nene, had a vested interest in and, that his father had influenced the deal. Matjila continued his testimony on Tuesday at the Commission of Inquiry into alleged wrongdoing at the PIC,  where he gave further insight on the organisation's dealings with several companies including among others, Ascendis Health, S&S Refinery, Steinhoff and Lancaster. Matjila said it was not the PIC's policy to fund BEE transactions outside the country, saying Nene junior and his partner Ameer Mirza's shareholding in the oil company, known as S&S Refinery, was to be vendor financed by the sponsor of the transaction and not, by the PIC.  According to Matjila, Nene had introduced his son, Siyabonga, during his stint as chairman of the PIC and it is during that time, that he first heard about S&S Refinery.

#PICInquiry: Matjila denies claims of funding business that Nene junior had interest in

JOHANNESBURG -  The former head of the Public Investment Corporation (PIC), has denied allegations that during his tenure, the state-owned asset manager funded a business, which Siyabonga Nene, the son of former Finance Minister Nhlanhla Nene, had a vested interest in and, that his father had influenced the deal. Matjila continued his testimony on Tuesday at the Commission of Inquiry into alleged wrongdoing at the PIC,  where he gave further insight on the organisation's dealings with several companies including among others, Ascendis Health, S&S Refinery, Steinhoff and Lancaster. Matjila said it was not the PIC's policy to fund BEE transactions outside the country, saying Nene junior and his partner Ameer Mirza's shareholding in the oil company, known as S&S Refinery, was to be vendor financed by the sponsor of the transaction and not, by the PIC.  According to Matjila, Nene had introduced his son, Siyabonga, during his stint as chairman of the PIC and it is during that time, that he first heard about S&S Refinery.

BEE group wants Blue Label investigated for monopoly

Sello Phakoe chairman of black economic empowerment consortium Eliovect which lodged a complaint at the Competition Commission for alleged unfairness meted on small and medium enterprises in the prepaid airtime market is hopeful the antitrust watchdog will open the space to black service providers.The claim against Blue Label Telecoms and others alleges these entities are a monopoly controlling prepaid airtime market distribution as a coalition of mobile operators and retailers.The complaint claims Blue Labels purchase of Cell C ensures vertical and horizontal integration across the value chain and unfair market dominance supported by exclusive contracts massive infrastructure commitments by mobile carriers as well as discounts which have previously been unavailable to black service providers.We would like to achieve a level playing field for SMMEs and in particular blackowned SMMEs says Phakoe.The Competition Commission has confirmed it is investigating the matter.Commission spokesperson Sipho Ngwema says: The investigation continues and we cant make a determination at this point on when we shall conclude.The complaint is against the following major retail groups: Shoprite Pick n Pay Woolworths Spar OK Franchises Massmart Group and Steinhoff International as direct or parent companies of major retail chains through which various products including prepaid airtime and starter kits are sold.Meanwhile Phakoe says his consortium hopes for a favourable outcome from the government antitrust watchdog.This is where we are hoping our government institutions can assist us. Institutions like the Competition Commission and ICASA are critical in turning this tide as SMMEs do not have the financial muscle to face the legal and financial prowess of these monopolies if and when they choose to collude.He adds there is only one blackowned competitor in the space in which Blue Label operates and they dont receive the same discounts.This is difficult as all black companies can buy direct but this is misleadi

EOH sheds light on ENSafrica report

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Junior Bookkeeper urgently needed: APPLY HERE

Benoni, Gauteng 1511 REPORTING Duties Reconcile all cashbook accounts. Assist in preparing cash flow statement with two months forecast. Assist with preparing Supplier age analysis indicating payments due.

ENX CORPORATION LIMITED - BIEQS1 - Notice to Bondholders regarding an Announcement Released by Enx Group in relation to the

BIEQS1 - Notice to Bondholders regarding an Announcement Released by Enx Group in relation to the Transaction enX Corporation Limited (Incorporated in the Republic of South Africa) (Registration No. 1984/007045/06) Company code: BIEQS1 ("enX" or "the Issuer") NOTICE TO BONDHOLDERS REGARDING AN ANNOUNCEMENT RELEASED BY ENX GROUP LIMITED IN RELATION TO THE DIVESTMENT OF EQSTRA FLEET MANAGEMENT AND LOGISTICS Bondholders are referred to the announcement released by enX Group Limited, a guarantor to the Issuer's ZAR 4 000 000 000 Domestic Medium Term Note Programme ("Programme"), ("enX Group") on SENS on Monday, 15 July 2019, which related to the divestment of the Eqstra Fleet Management and Logistics business ("EFML") ("Disposal Announcement"). The Disposal Announcement confirmed that the enX Group board of directors had entered a definitive subscription agreement with Bidvest Bank Limited and the Bidvest Group Limited (collectively referred to as "Bidvest") for the divestment of certain legal entities in which the EFML business is conducted ("the Transaction").

Largest brewers IPO turns sour

DURBAN The share price of AnheuserBusch InBev (AB InBev) fell almost 2percent on the JSE after the brewer announced that it was not proceeding with the initial public offering (IPO) of a minority stake in its AsiaPacific subsidiary Budweiser Brewing Company Apac on the Hong Kong Stock Exchange.The worlds largest brewer said it shelved the IPO of its Asian business on Friday due to several factors which included the prevailing market conditions.A successful IPO would have given Budweiser Apac a market capitalisation of roughly $54billion (R752.35bn) to $64bn according to market analysts. The group expected to raise as much as $9.8bn by selling the stake in its subsidiary and help to reduce its debt. The debt escalated when AB InBev acquired South African brewer SABMiller for $100bn in October 2016.

Cosatu threatens govt, business with court over acid mine water

Mine dumps are made up of crushed, sand-like by-product refuse material, known as tailings, produced during the mining process. Mine dumps are made up of a complex mixture of metals and dust particles. Dust exposure can be high for communities living nearby, particularly during windy conditions and when it's dry and vegetation cover is low.

Oops! Business etiquette blunders from around the world

Switching from being the director of a Swedish company's subsidiary based in the UK to working in the agricultural sector in South Africa was a sharp learning curve for Terry. "For the first few months of being in South Africa, I found it very difficult to pitch up at a facility and get to meet the farm manager or senior grower. It took a while to discover that, when they saw me arriving, they assumed I was the bank manager and promptly disappeared," he said.

Kaizer Chiefs boss Kaizer Motaung joins fans in mourning Marc Batchelor

Kaizer Motaung join the many whose lives were touched by Marc Batchelor in mourning the former footballer's death on Tuesday. Batchelor was gunned down outside his Johannesburg home on Monday night and police have confirmed they are on the hunt for two suspects who were spotted on motorbikes fleeing the scene. "I am shocked to learn about the passing of former Kaizer Chiefs player Marc Batchelor‚" the Kaizer Chiefs boss said on Tuesday.

Black Business Council welcomes Patel's R40bn cash injection for black industrialists

The Black Industrialists Programme aims to unlock the potential of industrialists in key sectors of the economy. The Black Business Council (BBC) on Monday welcomed the allocation of R40 billion to support an additional 400 black industrialists in the Black Industrialists (BI) Programme over the next five years. During his budget vote debate in parliament last week Thursday, Minister of Trade, Industry and Economic Development Ebrahim Patel said the government would accelerate efforts to support black industrialists.

ENSafrica report reveals 'irregularities' at EOH

An internal investigation, by IT service management company EOH has revealed serious governance failings, tender irregularities, unsubstantiated payments, and other unethical business dealings at the company, it announced on Tuesday morning. The probe by ENSafrica — which identified R1.2-billion in suspicious contracts — was initiated by the board and the company's chief executive Stephen van Coller in February this year, to look into the company's historical licensing contracts with the government. READ MORE: A market darling falls to Earth The report found a range of maladministration issues including, among others, EOH employees conspiring with two preferred suppliers to facilitate inflated software licence sales; systemic use of connected middle-men recognised and used as introducers and sales agents; enterprise development ("ED") subcontractors used on projects and payments made to such suppliers, where it is "questionable whether bona fide work was done by the said suppliers", and inappropriate gifting, sponsorships and donations.

Tongaat CEO seeking to freeze payments on R11bn of debt

The company is in the process of selling assets and cutting costs to strengthen its balance sheet, says CEO. Tongaat Hulett is asking 10 lenders for a break from payments on as much as R11 billion ($790 million) of debt so it can recover from the impact of having to restate accounts, according to chief executive officer Gavin Hudson. The embattled South African sugar maker is spending about R1 billion a year servicing the borrowings and is looking to negotiate a freeze by the end of July, Hudson said in an interview at Tongaat's 19th century Durban headquarters, an old farmhouse surrounded by sugar-cane fields. The company is in the process of selling assets and cutting costs to strengthen the balance sheet, he said.

Orange Business Services to transform Sony's global network

Orange Business Services has been chosen by Sony Group to consolidate and transform the communications infrastructure of Sony's two largest operating companies initially into a harmonised, future-proof network for an improved user experience around the world. Built on the Orange Flexible SD-WAN solution, the new Sony network will connect more than 500 locations in over 50 countries across five continents to deliver improved performance, security and scalability to their operations. Orange will now be Sony's principal global provider, delivering a fully automated, intelligent network for all global business units over time.

EOH mum as three directors resign

The technology group has changed executive leadership, suspended employees and launched an internal investigation into possible corruption at the company.

PRESS DIGEST- British Business - July 16

July 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - British members of Parliament are calling on AstraZeneca Plc to pay former staff 12 million euros ($13.51 million) in redundancy after the collapse of the Avlon manufacturing site.

GLOBAL MARKETS-Asian shares tick up, U.S. data, earnings in focus ahead of Fed

* MSCI Asia ex-Japan +0.04% * U.S. retail sales data in focus* Citigroup (NYSE:C) interest margin decline highlights headwinds for banks * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, July 16 (Reuters) - Asian shares inched up on Tuesday as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the world's biggest economy, with markets remaining focused on a likely U.S.

Business Maverick: Sub-Zero Bonds Start to Appear in Emerging Markets

The amount outstanding soared to $246 billion, driven mostly by the growing pile of corporate debt with sub-zero rates, which almost tripled in seven days, according to data compiled by Bloomberg. Corporate heavyweights such as China Everbright Bank Co. and Petroleo Brasileiro SA, and sovereigns including Poland and Hungary have seen their rates drop below zero after a dovish turn at Federal Reserve and the European Central Bank sparked a mad dash for yield.

Business Maverick: China Economy Slips to Record Low Growth Amid Stabilizing Signs

Chinese gross domestic product rose 6.2.% in the April-June period from a year earlier, below the 6.4% expansion in the first quarter. In June, factory output and retail sales growth beat estimates, while investment in the first half of the year also gave further evidence that stimulus measures to curb the slowdown are feeding through. Equity gauges in Shanghai and Hong Kong  recouped early losses  after the better-than-expected activity data.