Market News

Market News (INET BFA)

BUSINESS MAVERICK: Tiger Brands continues to count costs of the listeriosis outbreak

SA's largest food producer continues to face financial losses after the listeriosis outbreak that began in 2017. Tiger Brands was named as the culprit. The months from May 2019 will be tough for the company as it faces a class action lawsuit from victims of the outbreak and tackles a lack of profitability in its ready-to-eat processed meat business..

Local architecture firm captures IP for future design, business benefit

‘The idea is to set trends and become thought leaders.' ? Bob van Bebber, an architect at Boogertman "The idea is to set trends and become thought leaders," says Van Bebber. He explains the knowledge transfer process within the practice as well as the benefits for the business, its future projects and the industry as a whole. Brought to you by Boogertman + Partners..

BUSINESS MAVERICK: Tiger Brands continues to count costs of the listeriosis outbreak

File photo: Cleaning operations underway at the Enterprise plant after a listeriosis outbreak on March 10, 2018 in Polokwane, South Africa.(Photo by Gallo Images / Netwerk24 / Deon Raath) SA's largest food producer continues to face financial losses after the listeriosis outbreak that began in 2017. Tiger Brands was named as the culprit. The months from May 2019 will be tough for the company as it faces a class action lawsuit from victims of the outbreak and tackles a lack of profitability in its ready-to-eat processed meat business.

BUSINESS MAVERICK: Corporate SA pushes into Poland's land of promise and prosperity

Poland is quite the flirt. It has attracted a number of JSE listed companies to its shores over the years. And as long as the SA economy remains dim and exchange controls are kept intact, industry players say that their home country will continue to push its companies into the arms of foreign suitors.

BUSINESS MAVERICK: Moderate CPI data supports case for SARB to hold rates — and maybe talk about cuts

Consumer inflation in South Africa braked slightly in April 2019, supporting the view that the Reserve Bank will keep rates steady at the Thursday 23 May meeting of its Monetary Policy Committee. Given that inflation remains subdued because of weak demand and anaemic economic growth, there may be a case for the bank at least to contemplate when a cut may be on the table..

Financial market reform is vital for Africa to become an economic powerhouse

With SA a frontrunner, countries such as Ethiopia and Mozambique lag, especially in stock exchange development, which is essential to capital raising through listings With Africa's population expected to exceed China's by 2025, the continent's economic potential is indisputable. And the rest of the world has taken notice. Between 2010 and 2016 more than 320 embassies were opened in Africa, and global investment is beginning to pour in. A diligent approach can ensure that these external opportunities are converted but this is only half the challenge.

Business Maverick: Africa's appetite for cryptocurrencies surges

The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick back upwards. In South Africa, and on the continent, there have been several recent crypto developments, suggesting the market here is beginning to tingle with life.

GLOBAL MARKETS-Asia feels chill from Sino-U.S. tech cold war

* Asian stock markets : tmsnrt.rs/2zpUAr4 * Nikkei falls 0.5%, Asia ex-Japan near 16-wk low * Yen, sovereign bonds buoyed by safe-haven bid * Pound under pressure on reports PM May to quit * Oil prices nurse losses as inventories build By Wayne Cole SYDNEY, May 23 (Reuters) - Asian shares were stuck in the red on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world's two largest economies. Late Wednesday, Reuters reported the U.S.

Oil prices dip on swelling U.S. crude stocks, but global markets still tight

* U.S. oil output, stock & drilling: https://tmsnrt.rs/2DwTUBQ * Slowing oil demand also weighs on prices * OPEC cuts, Middle East tension keep markets on edge By Henning Gloystein SINGAPORE, May 23 (Reuters) - Oil prices dipped on Thursday, extending bigger falls from the previous session, as surging U.S. crude inventories and weak demand from refineries weighed on markets. However, oil markets still remain relatively well supported by supply cuts led by the OPEC producer cartel and by political tension in the Middle East. Brent crude futures, the international benchmark for oil prices, were at $70.90 per barrel at 0007 GMT, down 9 cents, or 0.1 percent, from their last close. U.S.

Flash Briefing: Mabuza fuels rand; Prasa's anti-corruption steam; Tuna Bond minister heads home; Sasol, Eskom

Cyril Ramaphosa was elected unopposed as South Africa's president by the National Assembly yesterday, while his deputy David Mabuza's future is in doubt after he asked to delay the process in light of a report by the ANC's integrity commission in which it said that Mabuza had brought the ANC into disrepute. The Rand gained after the news with the currency reversing an earlier decline and traded at R14.37 to the dollar late yesterday afternoon. The ANC also announced that Nomvula Mokonyane and Malusi Gigaba have withdrawn their candidacies as lawmakers.

Oil prices dip on swelling U.S. crude stocks, but global markets still tight

* U.S. oil output, stock & drilling: https://tmsnrt.rs/2DwTUBQ * Slowing oil demand also weighs on prices * OPEC cuts, Middle East tension keep markets on edge By Henning Gloystein SINGAPORE, May 23 (Reuters) - Oil prices dipped on Thursday, extending bigger falls from the previous session, as surging U.S. crude inventories and weak demand from refineries weighed on markets. However, oil markets still remain relatively well supported by supply cuts led by the OPEC producer cartel and by political tension in the Middle East. Brent crude futures LCOc1 , the international benchmark for oil prices, were at $70.90 per barrel at 0007 GMT, down 9 cents, or 0.1 percent, from their last close. U.S.

PRIVACY RIGHTS: MTN scores a dismal 16% for data security in global accountability index

Africa's largest telecommunications operator is failing to protect user data and digital rights, according to Ranking Digital Rights' Corporate Accountability Index. MTN scored a dismal 16% overall, ranking particularly poorly in the privacy and freedom of expression categories. Ranking Digital Rights, an international group working to protect digital rights and internet freedom, released its Corporate Accountability Index on 15 May 2019.

Business Maverick: As New Cold War Looms, China Struggles to Grasp Trump's End Game

When Donald Trump first took office in 2017, officials in Beijing saw a pragmatic businessman: All that tough campaign talk, they argued, was merely Art-of-the-Deal negotiating tactics rather than deeply held beliefs. Yet more than two years later, President Xi Jinping finds himself on the verge of a new Cold War his government sees fanned by Washington's most ideological China hawks. The view that China is a strategic competitor that must be thwarted at all costs is picking up supporters across the U.S.

South Africa's Steinhoff postpones shareholder hearing over petition

JOHANNESBURG, May 22 (Reuters) - South African retailer Steinhoff International Holdings N.V. said on Wednesday it had postponed a hearing with shareholders who are petitioning looking for an inquiry into the company before a Dutch court. The company has been in the middle of a clean-up of its balance sheet after discovering multi-billion euro holes in its accounts in 2017, erasing about 85 percent of its market value and throwing it into a liquidity crisis. The company and the group of shareholders agreed to postpone the hearing, which was scheduled to take place on Thursday, to a later date this year, Steinhoff said in a statement. "The date of the hearing will be communicated to the market as soon as it has been finalised," the firm said. The group of shareholders requested the appointment of an investigator and an additional member of the company's supervisory board to look at the information Steinhoff provides to shareholders and for the inquiry to be ordered by the Enterprise Chamber of the Amsterdam Court of Appeal. Last year a Dutch court said it would hear complaints by shareholders who say that Steinhoff, registered in the Netherlands, misled them by stating false information in its 2015 and 2016 accounts. (Reporting by Tanisha Heiberg; editing by David Evans) 2019-05-22 18.

Business Maverick: Sasol: What's a billion between friends?

Signs that costs were starting to overrun the budget began to emerge in January. In February, Sasol's leadership took immediate and decisive action to correct the problem. However, news of the latest cost overrun saw the share price drop 13%.

BUSINESS MAVERICK: Tiger Brands continues to count costs of the listeriosis outbreak

SA's largest food producer continues to face financial losses after the listeriosis outbreak that began in 2017. Tiger Brands was named as the culprit. The months from May 2019 will be tough for the company as it faces a class action lawsuit from victims of the outbreak and tackles a lack of profitability in its ready-to-eat processed meat business..

BUSINESS MAVERICK: Tiger Brands continues to count costs of the listeriosis outbreak

File photo: Cleaning operations underway at the Enterprise plant after a listeriosis outbreak on March 10, 2018 in Polokwane, South Africa.(Photo by Gallo Images / Netwerk24 / Deon Raath) SA's largest food producer continues to face financial losses after the listeriosis outbreak that began in 2017. Tiger Brands was named as the culprit. The months from May 2019 will be tough for the company as it faces a class action lawsuit from victims of the outbreak and tackles a lack of profitability in its ready-to-eat processed meat business.

BUSINESS MAVERICK: Moderate CPI data supports case for SARB to hold rates — and maybe talk about cuts

File photo: Reserve Bank governor Lesetja Kganyago ahead of Finance Minister Tito Mboweni's 2019 budget speech in Parliament on February 20, 2019. Photo: Gallo Images / Brenton Geach Consumer inflation in South Africa braked slightly in April 2019, supporting the view that the Reserve Bank will keep rates steady at the Thursday 23 May meeting of its Monetary Policy Committee. Given that inflation remains subdued because of weak demand and anaemic economic growth, there may be a case for the bank at least to contemplate when a cut may be on the table.

Judge rules against Trump, paves way for banks to provide his business records to Congress

(Adds statement from House Oversight Committee) By Brendan Pierson NEW YORK, May 22 (Reuters) - U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump's businesses. In a decision read from the bench after hearing arguments, U.S. District Judge Edgardo Ramos in New York said Congress has the legal authority to demand the records, clearing the way for the banks to comply with subpoenas issued to them by two U.S. House of Representatives committees last month. The committees have agreed not to enforce the subpoenas for seven days, the judge said.

Business Maverick: Sasol: What's a billion between friends?

File photo: Modules for Sasol, built at Dynamic Industries Inc's facility, stand in the Port of Iberia, in New Iberia, Louisiana, US. Photographer: Derick Hingle/Bloomberg Signs that costs were starting to overrun the budget began to emerge in January. In February, Sasol's leadership took immediate and decisive action to correct the problem.

Oil prices dip on swelling U.S. crude stocks, but global markets still tight

* U.S. oil output, stock & drilling: tmsnrt.rs/2DwTUBQ * Slowing oil demand also weighs on prices * OPEC cuts, Middle East tension keep markets on edge By Henning Gloystein SINGAPORE, May 23 (Reuters) - Oil prices dipped on Thursday, extending bigger falls from the previous session, as surging U.S. crude inventories and weak demand from refineries weighed on markets.

GLOBAL MARKETS-Asia feels chill from Sino-U.S. tech cold war

* Asian stock markets : https://tmsnrt.rs/2zpUAr4 * Nikkei falls 0.5%, Asia ex-Japan near 16-wk low * Yen, sovereign bonds buoyed by safe-haven bid * Pound under pressure on reports PM May to quit * Oil prices nurse losses as inventories build By Wayne Cole SYDNEY, May 23 (Reuters) - Asian shares were stuck in the red on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world's two largest economies. Late Wednesday, Reuters reported the U.S. administration was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision 002415.SZ over the country's treatment of its Uighur Muslim minority, according to a person briefed on the matter.

E-cigs can double success rates of quitting smoking, UK study finds

LONDON, May 23 (Reuters) - People using e-cigarettes to quit smoking are about 95% more likely to report success than those trying to quit without help from any stop-smoking aids, according to the results of a large study in England. The research, funded by the charity Cancer Research UK and published in the journal Addiction on Thursday, analysed success rates of several common stop-smoking methods - including e-cigarettes, nicotine replacement therapy (NRT) patches and gum, and Pfizer's varenicline, sold as Champix in the UK. It also adjusted for a wide range of factors that might influence success rates for quitting - such as age, social level, degree of cigarette addiction, previous attempts to quit, and whether quitting was gradual or abrupt.

TOPS at SPAR Wine Show winds its way to Cape Town

Andrew Douglas, Owner and Producer of The Wine Show, says this is the show's third appearance in Cape Town, which has always been warm and welcoming of ‘WINEderland'. "This year's show at GrandWest will deliver more than ever before - with an amazing line-up of well-known and as-yet-undiscovered gems from the world-renowned Cape winelands for tasting and buying, entertainment at every turn, interactive edutainment in our popular wine theatres, as well as many other crowd-pleasing attractions such as the ‘Search for a Super Taster' in the South African Wine Tasting Championships, Wine Label Design Awards presented by Rotolabel, the opportunity to learn about the untold value in wines produced from old vines from the Old Vine Project, a chance to win wine for a year with Stellenbosch Vineyards, experience a VIP food pairing with the SA Sommeliers Association, and more." GrandWest's Sun Exhibits will once again be transformed into a space for wine-lovers to indulge their WINEderlust. "The Wine Show is always fun, and it offers something for every wine-lover from novice to aficionado; it's the place to stock up on old favourites and make new discoveries, which can be shipped free of charge with our complimentary ‘Sip ‘n Ship' service," he adds.

Tiger Brands pays special div on Oceana sale

The fast-moving consumer goods group reported lower earnings as it still reels from the impact of last year's listeriosis crisis. Tiger Brands has declared a special dividend on top of its interim payout after selling a chunk of its holding in Oceana Group to Brimstone Investments, before unbundling the rest. The move sent its shares higher yesterday, despite the group reporting a slide in first-half profit in the aftermath of last year's listeriosis outbreak.

Aspen in talks with potential partner

The pharmaceuticals group says discussions with the European company follow a strategic review of its Commercial Pharmaceuticals businesses. Aspen Pharmacare says it has entered talks with a potential partner in Europe following a strategic review of its European and SA Commercial Pharmaceuticals businesses. It didn't say what the partnership would entail but advised shareholders to deal cautiously in its shares.

Consumer lender Home Credit appoints banks for over $1 bln HK IPO - sources

* Czech-based lender plans $1 bln-plus IPO in HK this year-sources * Could file its application as early as next month-sources * Citi, HSBC and Morgan Stanley to lead the deal-sources * Latest in a series of non-Asian companies choosing HK for IPOs By Julie Zhu and Julia Fioretti HONG KONG, May 23 (Reuters) - Global consumer lender Home Credit Group has appointed Citigroup, HSBC Holdings and Morgan Stanley to lead its upcoming Hong Kong initial public offering (IPO) of at least $1 billion, three people with direct knowledge of the matter said. The Prague-based lender plans to go public after the summer, the people said, speaking on condition of anonymity. One person said Home Credit plans to file with the Hong Kong stock exchange as early as next month and list in September or October. It is looking to raise at least $1 billion, the people said, cautioning that the final figure could change depending on the valuation. Home Credit, Citi, HSBC and Morgan Stanley declined to comment. Founded in 1997 in the Czech Republic, Home Credit operates in 10 countries including the United States, Russia and India, and has assets amounting to over 23.6 billion euros ($26.3 billion) worldwide. It has also grown into one of the biggest non-bank consumer lenders in China. In May, Czech investment group PPF increased its holding in Home Credit after buying a 2.5% stake from co-shareholder Emma Capital in a deal valuing the company at 8.5 billion euros. PPF, owned by the Czech Republic's richest businessman, Petr Kellner, raised its stake to 91.1%, with fellow Czech investment group Emma Capital holding the remaining 8.9%. Home Credit granted loans of 15.12 billion euros and had 28.9 million active customers in the first nine months of 2018, its website showed. It made a net profit attributable to shareholders of the parent of

South Africa's Steinhoff postpones shareholder hearing over petition

South African retailer Steinhoff International Holdings N.V. said on Wednesday it had postponed a hearing with shareholders who are petitioning looking for an inquiry into the company before a Dutch court. Reuters The company has been in the middle of a clean-up of its balance sheet after discovering multi-billion euro holes in its accounts in 2017, erasing about 85 percent of its market value and throwing it into a liquidity crisis.

Business Maverick: As New Cold War Looms, China Struggles to Grasp Trump's End Game

When Donald Trump first took office in 2017, officials in Beijing saw a pragmatic businessman: All that tough campaign talk, they argued, was merely Art-of-the-Deal negotiating tactics rather than deeply held beliefs. Yet more than two years later, President Xi Jinping finds himself on the verge of a new Cold War his government sees fanned by Washington's most ideological China hawks..

Daiichi Sankyo looking to sell OTC drug unit for about $900 mln - Nikkei Business

(Adds company comment) TOKYO, May 23 (Reuters) - Japan's Daiichi Sankyo Co is in talks with several companies to sell its wholly owned over-the-counter (OTC) drug unit, with the final price likely to reach around 100 billion yen ($900 million), Nikkei Business reported on Thursday. Reuters reported earlier this year that Japan's No. 4 drugmaker had hired JPMorgan to advise on the potential sale of the unit, Daiichi Sankyo Healthcare. A Daichi Sankyo spokesman declined to comment on the Nikkei Business report. Daiichi Sankyo is focusing on developing cancer treatments to offset a revenue drop following patent expirations of its mainstay blood pressure drug. The OTC unit makes an energy drink, Regain, as well as the Lulu Attack cold medicine and Gaster 10 stomach medicine. ($1 = 110.2200 yen) (Reporting by Takashi Umekawa and Chang-Ran Kim; Editing by Stephen Coates) First Published: 2019-05-23 02:35:55 Updated 2019-05-23 02.

MTN discontinues 21km race to focus on ICT initiatives

JOHANNESBURG MTN on Wednesday said that it will be discontinuing its 21km race in aid of ICT projects as this will allow it the opportunity to strengthen its focus on ICT initiatives which will benefit more beneficiaries.The MTN Group said in a statement that new and important initiatives designed to have a positive impact on the youth will be launched at the beginning of June.This will be part of the 2019 edition of 21 Days of Yello Care. Last year June saw the fifth edition of the MTN 21 km race.  "We have been encouraged by the overwhelming support that the MTN 21KM race has received over the years and are pleased with how it has contributed to and created awareness around the importance of broadening access to ICT in disadvantaged communities" general manager of the MTN SA Foundation Kusile MtunziHairwadzi said."It was however more important for us to look at how we allocate our funding to ensure that even more beneficiaries are able to benefit from this."MTN thanked the thousands of runners and supporters of the race its partners and the community of Roodepoort for getting behind the 21km race and what it represented."Through our School Connectivity programme we will continue to roll out multimedia centres and provide free connectivity to schools nursing colleges and other community upliftment programmes. "We remain committed to making a positive difference in the communities that we serve through the work we do in the fields of education health entrepreneurship and the arts" added MtunziHairwadzi.Since its formation the MTN 21KM race has successfully raised funds generated from the proceeds to support ICT initiatives across the country.African News Agency (ANA).

Arcadia CVA imminent, could landlords end up with near-40% stake?

Arcadia is expected to launch its long rumoured company voluntary arrangement (CVA) on Thursday or Friday with reports suggesting that landlords could end up owning more than a third of the business. Dorothy Perkins Despite some creditors still being unwilling to support the CVA, the company is expected to move on with its plans that would see chains such as Topshop, Burton and Dorothy Perkins, closing dozens of stores, seeing rent cuts at many more and reducing the annual payment into its pension scheme. Sky News reported that Arcadia boss Sir Philip Green is also expected to provide funding of more than £50 million to the company.  But it also said that some issues remained unresolved as of late Wednesday with Green wanting to provide the £50 million as a secured loan, but some creditors pushing for a bigger cash injection and for it to  be in the form of equity.

SA mining industry re-elects top officials at AGM

: Google Images "> Mining Industry : Google Images The Minerals Council South Africa on Wednesday re-elected all its top officials back into office, and added Zanele Matlala, the chief executive of Merafe Resources, who was elected as one of four vice presidents. This as the Minerals Council held its 129th Annual General Meeting where board members elected the new office bearers for 2019/2020. Mxolisi Mgojo, chief executive of Exxaro Resources, was re-elected as president, while Steve Phiri, the chief executive of Royal Bafokeng Platinum, Andile Sangqu the executive head of Anglo American South Africa, and Neal Froneman, the chief executive of Sibanye-Stillwater, were all re-elected as vice presidents.

Running Bidvest doesn't scare me! - Mpumi Madisa (39)

When I joined Bidvest, I was 23 years old… I was introduced to Brian Joffe quite early in my career. It was probably the scariest moment of my life… Six years ago; both Brian and Lindsay said to me the role of CEO could be in reach for me… I remember just about falling off my chair… I just decided I'm going to do my best… When Mpumi Madisa becomes Bidvest's new CEO, she will be the first female to lead the company. She will be the only black woman CEO of a JSE Top-40 company. At 39, she'll also be the youngest. The emergence of Mpumi Madisa as Chief Executive of a major corporation in our economy is a significant personal achievement that also signifies a new advance in gender transformation in business. Madisa, who joined Bidvest in 2003, has a master's degree in Finance and Investment, a BComm Honours in Economics and a BSc in Economics and Mathematics. Bidvest employs 137 000 people. It has a market capitalisation of R72 billion. The Money Show's Bruce Whitfield interviewed Madisa for his weekly "ShapeShifter" feature. Listen to the interview in the audio below (and scroll down for more quotes from it). My career progression was very quick… At one time I was sitting on 22 boards… It is male-dominated… it's a reflection of corporate South Africa… regardless of gender, we're really about, ‘Do you understand the business, and can you add value?'… I've grown up in Bidvest… What I've been trained for is to run an organisation like Bidvest… it doesn't scare me at all! I've got a team of 130 000! Get the 10 most-read articles of the week from Bruce Whitfield's The Money Show, emailed to you every Friday morning.

UPDATE 1-AB InBev expects total investment of up to $400 mln in...

(Adds more details) JOHANNESBURG, May 22 (Reuters) - Anheuser-Busch InBev (AB InBev) ABI.BR , the world's largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday. The $250 million brewery has already started operation and capacity will be expanded in phases, Brito told reporters at a media briefing in Johannesburg, without giving a timeline for the next phase. "Nigeria (is) becoming a more and more important market as we grow in that market," he said."I mean we're growing double digits, we didn't grow in the past as fast because we were lacking capacity and now that we have capacity, strong brands and (a) great group of people we're challenging the status quo there.".

World's Biggest Miner Sees Coal's Era Ending in Shift to the Battery Age

David Stringer, Bloomberg The BHP Group, the world's biggest miner, sees the outlook for thermal coal as challenged and won't add production as it prioritises growth in commodities tied to the shift to renewable energy and electric transport. There's the prospect that the material will be "phased out, potentially sooner than expected," chief financial officer Peter Beaven said in an investor presentation on Wednesday. The Melbourne-based producer has "no appetite for growth in energy coal regardless of asset attractiveness," he said. BHP follows its biggest competitors Rio Tinto and Glencore in questioning the future role of coal used for power generation, as investors press for more action to tackle climate change and tighten restrictions on holding companies that produce the fuel. Rio sold its final coal mines last year, while Glencore said in March it would seek to limit production. At BHP's thermal coal mine in Australia and the Cerrejon operation in Colombia, where it has a third-share, the producer will focus on "maximising value to shareholders, whether we are long-term owners or not," Beaven told investors in a separate speech. While thermal coal will remain a large market, the company expects demand "to plateau and then decline," he said. The producer is also unlikely to add major capacity in iron ore or metallurgical coal, according to Beaven, seen as a leading contender to succeed Andrew Mackenzie as CEO.

Business Kaspersky Lab expands into East Africa as it opens office in Rwanda

Russian multinational cybersecurity and antivirus provider, Kaspersky Lab has announced plans to expand into one of Africa's fastest-growing economies, Rwanda. The new office will be situated at the country's capital, Kigali and will serve as the first outlet to mark the company's entry into East Africa's Cyberspace. Kaspersky Lab will be working to protect the country from cyber threat and any other technical risks the country may be faced with. This move was initiated during the Transform Africa Summit held in Rwanda where Eugene Kaspersky, Founder and CEO of the company, met with Rwanda's President Kagame. "Government and enterprises across Africa need an integrated approach to complex threat decisions and response as they fight cybercriminals who have significant financial resources and are constantly looking to exploit any vulnerability," Eugene said. This strategic development also comes at a time when Rwanda has recalled large losses owing to an incessant cybercrime rate. AllAfrica reported that Rwandan financial institutions recorded about $1.4million in 2016, $2.8million in 2017 and $319.3million in 2018 to cybercriminals.

Can Eskom prove the markets wrong?

With the markets already pricing in a pessimistic outcome for the Eskom energy crisis, even a small improvement in the electricity situation could open up opportunities in the SA bond and equity markets. The market is fully aware of the position of the embattled power utility, and has already priced in "a pessimistic outcome", says Chris Holdsworth, investment strategist, Investec Wealth & Investment, in a recent Investec FOCUS Radio podcast. Pointing to pricing in the SA bond and equity markets, Holdsworth says that the worst case scenario for Eskom is "already reflected in the prices".

STEINHOFF INTERNATIONAL HOLDINGS N.V. - Steinhoff Enterprise Chamber Inquiry Proceedings

Wrap Text Steinhoff - Enterprise Chamber Inquiry Proceedings Steinhoff International Holdings N.V. (Incorporated in the Netherlands) (Registration number: 63570173) Share Code: SNH ISIN: NL0011375019 Steinhoff Investment Holdings Limited (Incorporated in the Republic of South Africa) (Registration number: 1954/001893/06) JSE Code: SHFF ISIN: ZAE000068367 Steinhoff - Enterprise Chamber inquiry proceedings Steinhoff International Holdings N.V. (the "Company" and with its subsidiaries, the "Group"). On 21 February the Company confirmed receipt of a petition by a group of shareholders for inquiry proceedings before the Enterprise Chamber of the Amsterdam Court of Appeal (the "Enterprise Chamber"). A hearing was scheduled to take place on 23 May 2019. The Company and the group of shareholders have mutually agreed to postpone the date of this hearing to a date later in the calendar year.

AB InBev targets total investment of $400m in Nigerian brewery

CEO Carlos Brito says capacity will be added in phases to new brewery at Sagamu Anheuser-Busch InBev (AB InBev), the world's largest brewer, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400m, CEO Carlos Brito said on Wednesday. The $250m brewery had already started operation and capacity would be expanded in phases, Brito said at a media briefing in Johannesburg, without giving a timeline for the next phase. "Nigeria (is) becoming a more important market as we grow (there)," he said. "We're growing double digits, we didn't grow in the past as fast because we were lacking capacity and now that we have capacity, strong brands and (a) great group of people we're challenging the status quo there." Reuters.

BUSINESS MAVERICK: Robo-apocalypse? Not in your lifetime

Will robots take our jobs? The rise of ‘thinking' and ‘learning' algorithms has created fears that technology will gradually replace humans at work. Yet we have been replacing human work with, first, animals, and then machines, for centuries. There is, it turns out, a difference between knowledge and information..

Trump loses bid to block banks from providing family's business records to Democratic lawmakers

(Adds congressional committees agree not to enforce subpoenas for seven days, paragraph 3; Deutsche Bank spokeswoman, paragraph 9) By Brendan Pierson NEW YORK, May 22 (Reuters) - U.S. President Donald Trump, three of his children and the Trump Organization on Wednesday lost their bid to block Deutsche Bank AG and Capital One Financial Corp from providing financial records to Democratic lawmakers investigating Trump's businesses. In a decision read from the bench after hearing arguments, U.S. District Judge Edgardo Ramos in New York said that Congress has the legal authority to demand the records, clearing the way for the banks to comply with subpoenas issued to them by two U.S.

BARLOWORLD LIMITED - Appointment of Finance Director - BIBAW

Wrap Text Appointment of Finance Director - BIBAW Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Bond issuer code: BIBAW) ("Barloworld" or the "Company") CHANGE TO THE BOARD OF DIRECTORS: APPOINTMENT OF FINANCE DIRECTOR In compliance with paragraph 3.59 of the Listing Requirements of JSE Limited, shareholders are hereby advised that Miss Nopasika Lila has been appointed as the Group Finance director of Barloworld Limited with effect from 1 August 2019. Nopasika is a chartered accountant with more than 20 years of experience in finance, corporate governance and pension industry. She has financial and business acumen gained from various roles across both the private and public sectors. She has a Post Graduate Diploma in Accountancy from the University of KwaZulu-Natal, Bachelor of Accounting Science from Walter Sisulu University, Woman in Insurance Management Development Programme from Gordon Institute of Business Science and Higher Certificate in Financial Markets and Instruments from The Academy of Financial Markets. Nopasika currently serves on the boards of enX Group Limited, Nampak Limited and Batseta - Council of Retirement Funds of South Africa. She also serves as an Audit Committee member for Nampak Limited and EnX Group Limited, chairperson of the Risk and Sustainability Committee of Nampak Limited, is a member of Investment Advisory Committee of Invest Africa Private Equity Fund 2 L.P and the Financial and Integrated Reporting Sub-Committee of CFO South Africa. The Board welcomes Nopasika into her role and looks forward to her contribution. Sandton 22 May 2019 Debt Sponsor Absa Bank Limited (acting through its Corporate and Investment Bank division) Date: 22/05/2019 04:00:00 Produced by the JSE SENS Department.

NETCARE LIMITED - Dealings in securities by a director of Netcare

NTC NTCP 201905220047A Dealings in securities by a director of Netcare NETCARE LIMITED (‘Netcare') (Registration No. 1996/008242/06) Code: NTC ISIN: ZAE000011953 JSE Preference share code: NTCP ISIN: ZAE000081121 SENS - DEALINGS IN SECURITIES BY A DIRECTOR OF NETCARE In terms of paragraph 3.63 - 3.65 of the Listings Requirements of the JSE Limited (‘JSE Listings Requirements'), the following transactions are hereby disclosed. The required prior clearance for these trades has been obtained. As a result of the recent decline in Netcare's share price, Dr Richard Friedland (Dr Friedland) was obliged to effect the trades outlined below in order to balance the cost of acquisition and related finance charges arising from the purchase of his shares and the exercising of share options over several years, against the current value of the share. The board wishes to confirm that Dr Friedland remains absolutely committed to Netcare.

HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Trading Statement

Wrap Text Trading Statement HOSKEN CONSOLIDATED INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1973/007111/06) (Share code: HCI & ISIN: ZAE000003257) ("HCI" or "the company") TRADING STATEMENT In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period. Shareholders are hereby advised that a reasonable degree of certainty exists that for the year ended 31 March 2019, the Company will report basic earnings per share of between 772.7 cents and 879.0 cents, being a decrease of between 27.3% and 17.3% as compared to basic earnings per share of 1 062.9 cents for the prior year, and headline earnings per share of between 1 134.4 cents and 1 266.0 cents, being a decrease of between 13.8% and 3.8% as compared to headline earnings per share of 1 316.0 cents for the prior year. The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 23 May 2019. Cape Town 22 May 2019 Sponsor: Investec Bank Limited Date: 22/05/2019 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

SHOPRITE HOLDINGS LIMITED - Procedural update on the proposed transaction

Wrap Text Procedural update on the proposed transaction SHOPRITE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration no. 1936/007721/06 ISIN: ZAE000012084 JSE share code: SHP NSX share code: SRH LuSE share code: SHOPRITE ("Shoprite Holdings" or "the Company") PROCEDURAL UPDATE ON THE PROPOSED TRANSACTION Shoprite Holdings' ordinary shareholders ("Shareholders") are referred to the detailed terms announcement, which incorporated a firm intention announcement, released on the stock exchange news service operated by the JSE Limited ("JSE") on 18 April 2019 ("Detailed Terms Announcement") relating to the Company's consideration of a potential acquisition and cancellation of all the Shoprite Holdings deferred shares ("Proposed Transaction"). It is Shoprite Holdings' intention to post one circular to Shareholders relating to the Proposed Transaction which will incorporate both the requirements of the Listings Requirements of the JSE and the applicable Regulations issued under the Companies Act, No 71 of 2008, as amended ("Regulations") ("Circular"). As noted in the Detailed Terms Announcement, it is envisaged that a Circular incorporating a notice of General Meeting containing further information in relation to the Proposed Transaction will be posted to Shareholders on or about 27 May 2019, subject to the outcome of engagement with Shoprite Holdings' major other Shareholders. In order to post the Circular on or about 27 May 2019, being more than 20 business days after the Detailed Terms Announcement, the Takeover Regulation Panel, established in terms of section 196 of the Companies Act, is required to and has granted the Company an extension to post the Circular on or about 27 May 2019, but by no later than 14 June 2019, as requested by the Company. PG DU PREEZ Company Secretary On behalf of the board of directors of Shoprite Holdings Date issued: 22 May 2019 Financial Advisor and Transaction Sponsor to Shoprite Holdings: Investec Bank Limited Date: 22/05/2019 11:25:00

TIGER BRANDS LIMITED - Investor Presentation

Wrap Text Investor Presentation TIGER BRANDS LIMITED "Tiger Brands" or "the Company" (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 INVESTOR PRESENTATION Shareholders are advised that following the release of the interim results for the six months ended 31 March 2019, the investor presentation is available for download on the Tiger Brands website. http://www.tigerbrands.com/invest- 2/presentations/ The investor presentation will take place today at 10:00am (CAT) 22 May 2019. Conferencing details are set out below. Webcast Address: http://themediaframe.eu/links/tigerbrands190522.html LIVE CONFERENCING DETAILS Dial-In Number(s): Country Access Number Johannesburg 011 535 3600 Other Countries +27 11 535 3600 UK 0 333 300 1418 PLAYBACK ACCESS NUMBERS - Replay Access Code - 24224 Dial-In Number(s): Country Access Number South Africa 010 500 4108 UK 0 203 608 8021 Australia 073 911 1378 USA 1 412 317 0088 International Toll +27 10 500 4108 Bryanston Date: 22 May 2019 Sponsor J.P.

TIGER BRANDS LIMITED - Trading Statement for the year ended 30 September 2019

Wrap Text Trading Statement for the year ended 30 September 2019 TIGER BRANDS LIMITED "Tiger Brands" or "the Company" (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 TRADING STATEMENT FOR THE YEAR ENDING 30 SEPTEMBER 2019 Shareholders are hereby advised that, due to the unbundling of the Company's interest in Oceana Group Limited (Oceana), with effect from 29 April 2019, a reasonable degree of certainty exists that the total earnings per share (EPS) of the Company for the year ending 30 September 2019, will be more than 20% (or more than 291.5 cents) higher than the amount of 1 457.7 cents per share reported in the previous year. The unbundling of the Company's interest in Oceana gave rise to an unrealised fair value gain of R1 630.4 million through the income statement. This gain has no impact on headline earnings per share as it has been excluded for headline earnings purposes. A further trading statement will be issued as soon as there is a reasonable degree of certainty as to the likely range within which the Company's earnings per share will increase compared to the previous year. The information above has not been reviewed or reported on by the Company´s auditors. Bryanston 22 May 2019 Sponsor J.P. Morgan Equities South Africa Proprietary Limited Date: 22/05/2019 07:32:00 Produced by the JSE SENS Department.

SASOL LIMITED - Update on the Lake Charles Chemicals Project

Wrap Text Update on the Lake Charles Chemicals Project Sasol Limited Sasol Ordinary Share codes: JSE: SOL NYSE: SSL Sasol Ordinary ISIN codes: ZAE000006896 US8038663006 Sasol BEE Ordinary Share code: JSE: SOLBE1 Sasol BEE Ordinary ISIN code: ZAE000151817 ("Sasol" or "the Company") UPDATE ON THE LAKE CHARLES CHEMICALS PROJECT ("LCCP") In the Company's trading statement, released by the Stock Exchange News Service on 8 February 2019, updated guidance was provided for the LCCP's schedule and capital costs, which were estimated in the range of $11,6 to $11,8 billion. Following this announcement a number of changes were made to the management of the LCCP, with project accountability immediately reassigned to the Executive Vice President of Chemicals, Fleetwood Grobler and the strengthening of our project controls organisation. This team became concerned regarding the accuracy of the project's cost forecast and, as a consequence, our third quarter Business Performance Metrics announcement in April 2019 indicated that the LCCP's cost was tracking the upper end of the range. Management also initiated a full review of the costs and schedule until project completion with input from independent technical and financial advisers. This review identified significant additional concerns related to the LCCP forecasting process and a marked increase in the projected total cost.

GOLD FIELDS LIMITED - Results of AGM of Gold Fields Limited held on 21 May 2019 and changes to the directors.

Wrap Text Results of AGM of Gold Fields Limited held on 21 May 2019 and changes to the directors. Gold Fields Limited Incorporated in the Republic of South Africa) Registration Number 1968/004880/06) JSE, NYSE, DIFX Share Code: GFI ISIN: ZAE000018123 "Gold Fields" or "the Company") RESULTS OF ANNUAL GENERAL MEETING OF GOLD FIELDS LIMITED HELD ON 21 MAY 2019 AND CHANGES TO THE DIRECTORS Shareholders are advised that at the Annual General Meeting of Gold Fields Limited held on Tuesday 21 May 2019, the ordinary and special resolutions, as well as advisory endorsement of the company's remuneration policy, as set out in the notice of the annual general meeting dispatched to shareholders on 22 March 2019 were passed, on a poll, by the requisite majorities. Details of the results of the voting are as follows: Total issued share capital: 828,637,707 Total number of shares present/ represented including proxies at the meeting: 712 867 074 being 86% of the total votable shares Ordinary Number of Shares Shares Shares resolutions shares voted for: voted abstained voted against: : 1.Re-appointment 712 218 458 712 000 398 218 060 648 616 of auditors % of total % of shares % of % of issued voted shares total shares voted issued shares 100% 99,97% 0,03% 0.08% 710 585 666 710 227 935 357 731 2 281 408 2.1 Re-election % of total % of shares % of % of issued voted shares total of a director: shares voted issued P Mahanyele- Dabengwa shares

NETCARE LIMITED - Dealings in securities by a director of Netcare

Wrap Text Dealings in securities by a director of Netcare NETCARE LIMITED ("Netcare") (Registration No. 1996/008242/06) Code: NTC ISIN: ZAE000011953 JSE Preference share code: NTCP ISIN: ZAE000081121 SENS - DEALINGS IN SECURITIES BY A DIRECTOR OF NETCARE In terms of paragraph 3.63 - 3.65 of the Listings Requirements of the JSE Limited ("JSE Listings Requirements"), the following transactions are hereby disclosed. The required prior clearance for these trades has been obtained. As a result of the recent decline in Netcare's share price, Dr Richard Friedland (Dr Friedland) was obliged to effect the trades outlined below in order to balance the cost of acquisition and related finance charges arising from the purchase of his shares and the exercising of share options over several years, against the current value of the share. The board wishes to confirm that Dr Friedland remains absolutely committed to Netcare.

TIGER BRANDS LIMITED - Unaudited group results and dividend declaration for the six months ended 31 March 2019

Wrap Text Unaudited group results and dividend declaration for the six months ended 31 March 2019 TIGER BRANDS LIMITED Registration number: 1944/017881/06 Incorporated in the Republic of South Africa Share code: TBS ISIN: ZAE000071080 Unaudited group results and dividend declaration for the six months ended 31 March 2019 Salient features - Revenue of R15,4 billion from continuing operations down 2% (excluding VAMP up 4%) - Ordinary dividend of 321 cps Special dividend of 306 cps Total interim dividend of 627 cps - Operating income* R1,5 billion down 24% (excluding VAMP down 9%) - Home and Personal Care post a strong recovery - HEPS from continuing operations down 12% to 762 cents (excluding Oceana impact down 2%) - Oceana unbundling impacts like-for-like comparison * Before IFRS 2 charges, impairments and abnormal items from continuing operations. Commentary Tiger Brands delivers a mixed set of results under difficult trading conditions During the period under review, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins. Group revenue of R15,4 billion from continuing operations was down 2% compared with the corresponding period last year, which included Easter seasonal volumes. Domestic revenue excluding Value Added Meat Products (VAMP) was 6% higher driven by 2% volume growth and 4% inflation.

TIGER BRANDS LIMITED - Appointment to the Board of Tiger Brands

Wrap Text Appointment to the Board of Tiger Brands TIGER BRANDS LIMITED ("Tiger Brands" or "the Company") (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 Appointment to the Board of Tiger Brands In compliance with section 3.59 of the JSE Limited Listings Requirements, the Tiger Brands Board is pleased to announce the appointment of Mr Donald Wilson as independent non-executive director of the Company and member of the Audit, Investment and Remuneration Committees with effect from 1 June 2019. Mr Wilson is a Chartered Accountant (SA) and holds a B.Com and CTA qualification from Rhodes University. He has significant financial experience accumulated over many years whilst working for listed entities with global operations. Mr Wilson was appointed Group Finance Director of Barloworld Limited in 2006 and continued to serve as such until his retirement from the Board in February 2019. He is currently serving as the acting Chief Financial Officer of Barloworld. Prior to 2006, he served in various executive financial roles in the Barloworld group and was also the Executive Director Finance of Sappi Limited. The Board welcomes Mr Wilson and is looking forward to his contribution in the future. 22 May 2019 Bryanston Sponsor: J.P.

South Africa's Steinhoff postpones shareholder hearing over...

JOHANNESBURG, May 22 (Reuters) - South African retailer Steinhoff International Holdings N.V. SNHJ.J said on Wednesday it had postponed a hearing with shareholders who are petitioning looking for an inquiry into the company before a Dutch court. The company has been in the middle of a clean-up of its balance sheet after discovering multi-billion euro holes in its accounts in 2017, erasing about 85 percent of its market value and throwing it into a liquidity crisis. The company and the group of shareholders agreed to postpone the hearing, which was scheduled to take place on Thursday, to a later date this year, Steinhoff said in a statement. "The date of the hearing will be communicated to the market as soon as it has been finalised," the firm said. The group of shareholders requested the appointment of an investigator and an additional member of the company's supervisory board to look at the information Steinhoff provides to shareholders and for the inquiry to be ordered by the Enterprise Chamber of the Amsterdam Court of Appeal. Last year a Dutch court said it would hear complaints by shareholders who say that Steinhoff, registered in the Netherlands, misled them by stating false information in its 2015 and 2016 accounts..

AB InBev expects total investment of up to $400 mln in Nigerian...

JOHANNESBURG, May 22 (Reuters) - Anheuser-Busch InBev (AB InBev) ABI.BR , the world's largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday. The $250 million brewery has already started operation and more phases of added capacity are still to come, Brito told reporters at a media briefing in Johannesburg..

Time for electoral reform and dusting off the Van Zyl Slabbert Report

writes there may a lack of proper relationship between voters and their representatives in Parliament Post 2019 elections: Time for electoral reform and dusting off the Van Zyl Slabbert Report 22 May 2019 In the aftermath of a highly-contested national and provincial election, questions must be asked why only 65.99% of registered voters turned out to vote, compared with 89.3% in 1999. There might be many factors contributing to this low turnout, such as voter disillusionment following State capture, corruption, lack of accountability and an ailing economy. However, there are other possible explanations:  it may be that voters do not feel that they are properly represented by the people who sit in Parliament; and that Parliament has simply become a rubber stamp in the hands of the Executive.   The real problem may be the lack of a proper relationship between voters and their representatives in Parliament - the root of which, may lie in our electoral system itself.

PRECIOUS-Gold steadies as equities dip; markets eye Fed minutes

* Minutes of U.S. Fed meeting due at 1800 GMT * SPDR Gold holdings rise 0.4% on Tuesday * Platinum dips to three-month low (Adds comments, updates prices) By Brijesh Patel May 22 (Reuters) - Gold steadied on Wednesday, inching up off a two-week low, as stock markets slid on fresh trade tensions, while a strong U.S. dollar capped bullion's gains ahead of the release of minutes from the U.S.

Black Business Council urges Ramaphosa to spearhead economic recovery, renewal

PARLIAMENT, May 22 (ANA) - The Black Business Council (BBC) has congratulated President Cyril Ramaphosa on his official election as President of the Republic of South Africa on Wednesday following general elections two weeks ago. Ramaphosa has been given the official mandate to serve as president of the republic again after his formal election in the National Assembly. He was elected unopposed to loud cheers coming from African National Congress (ANC) members of Parliament (MPs). The BBC said that Ramaphosa's election, on his official first-term as State president, demonstrated the country's confidence in him to spearhead economic recovery and renewal. Sandile Zungu, BBC president, said that they were confident that Ramaphosa will also focus on ensuring that the era is free from state capture and corruption. "The BBC also calls for the President to appoint a fit-for-purpose streamlined cabinet that will put the interest of South African first," Zungu said. "As the BBC, we sincerely anticipate a leaner Cabinet made up of men and women of integrity who will be single-minded in addressing the challenges of poverty, unemployment and inequality." Ramaphosa's election came after the controversial withdrawal of his deputy David Mabuza from being sworn in as MP, saying that he had requested to postpone it in order to deal with allegations of having prejudiced the integrity of the ANC and bringing the party into disrepute as stated by the ANC Integrity Commission. "We commend and applaud the Deputy President of the ANC, Mr DD Mabuza for following his conscience by postponing his swearing in as a Member of Parliament in order to address the ANC Integrity Commission's concerns as this sets a positive tone for the new administration," Zungu said. "The BBC is available to become part of the solution as we join business, government, labour and community in rebuilding the country as well as restoring and growing the economy." Zungu said the BBC believes that greater focus in the 6th Administration shoul

AB InBev and Asia Clean Capital open rooftop solar project

Asia Clean Capital (ACC), in partnership with world-leading beer manufacturer AB InBev, announced on 22 May that commercial operations of its 2 megawatt (MW) rooftop solar project in Yunnan Province, China, have begun. Supporting AB InBev's new brewery in Yunnan, the project joins an array of clean energy initiatives encompassed within the company's 2025 Sustainability Goals. The system is set to save 38,000 tonnes of CO2 over the course of its lifetime.

Alternative Markets In And Around The City

Alternatribe Strange Sundays This market is relatively new on the scene, but it has already gained quite a following. It is also for people who love all things tattoo. We know what you're thinking.

Congo Republic's IMF bailout at risk over debt deals -document

By Joe Bavier and Karin Strohecker JOHANNESBURG/LONDON (Reuters) - Advisers to Congo Republic's government have warned it that there is a "major risk" the International Monetary Fund (IMF) will reject its bid for a long-sought bailout, according to a letter obtained by Reuters. Negotiations for an IMF programme have dragged on since 2017, with the IMF's executive board demanding the central African oil producer ensure the sustainability of its debt, most of which is owed to China and oil traders. At the end of its most recent mission to Congo this month, an IMF team said it was finally ready to support a three-year credit facility. But any programme would first need to be approved by the Fund's board.

Why Parliament Matters

Cooperative Governance and Traditional Affairs Portfolio Committee Legacy Report Cooperative Governance and Traditional Affairs • 20 Mar 2019 Minutes and reports Social Development • 20 Mar 2019 Illicit financial flows Finance Standing Committee • 20 Mar 2019 Justice and Correctional Services Portfolio Committee Legacy Report Justice and Correctional Services • 20 Mar 2019 SANDF Deployment to Vaal River System: DWS & SANDF briefing; Rand, Sedibeng, Bloem Water Boards 2017/18 Annual Report; Tembisa and Ekurhukeni petitions, with Minister and Deputy Minister Water and Sanitation • 19 Mar 2019 Steinhoff follow-up, with DPSA Minister present Finance Standing Committee • 19 Mar 2019 Agriculture, Forestry and Fisheries Portfolio Committee Legacy Report Agriculture, Forestry and Fisheries • 19 Mar 2019 Non-completion of trade agreement; farewell Trade and Industry • 19 Mar 2019 National Minimum Wage Amendment Bill: finalisation Labour • 18 Mar 2019 Finance Standing Committee Legacy report Finance Standing Committee • 13 Mar 2.

Free Small Business Marketing Tools… We Are Loving!

With so many small businesses mushrooming around us, the topic of marketing tools is an important one. If you are a business owner, you probably want to get your brand out there to generate leads and conversions. This doesn't need to cost an arm and a leg as we are very happy to say that there are lots of FREE - yes, totally free - marketing tools available that will enable you to market your brand in a professional manner.

Business Maverick: Can Eskom prove the markets wrong?

With the markets already pricing in a pessimistic outcome for the Eskom energy crisis, even a small improvement in the electricity situation could open up opportunities in the SA bond and equity markets..

Portfolio Watch: Trends in currency markets, mergers and acquisitions in South Africa

On this week's episode of Portfolio Watch we discuss the trends in currency markets and when trading should be approached with a long-term or short term investment strategy, joined by Andre Cilliers, Director at TreasuryONE, and James Turp, Head of fixed income at Absa asset management. In the second half of the show we examine whether bigger is always better, when do mergers and acquisitions indicate of a good time to invest joined by Gary Booysen, Director and Portfolio Manager at Rand Swiss..

#LIVE Global Business 18 GMT 21/05/19

Live: #GlobalBusiness 18 GMT Join Ramah Nyang with business news from Africa and beyond. Tune in on DSTV channel 409 & Star Times 123 for these stories and much more. Stay with us right here, or catch our bulletin on DSTV 409 and Star Times 123..

UK urged to sharpen anti-slavery law to target business and help children

Crime minister says the government will respond to recommendations to improve the first-of-its kind law passed in 2015 but whose implementation has been very slow London — Punishing businesses that fail to tackle modern slavery, providing better support for child victims, and holding the government to account topped the agenda in a review on Wednesday intended to improve Britain's landmark anti-slavery legislation. Hailed as a leader in the global drive to end slavery, Britain passed the 2015 Modern Slavery Act to jail traffickers for life, better protect vulnerable people, and force large companies to outline their actions to avoid using forced labour. Yet the government tasked MPs last July with reviewing the law due to concerns the country was struggling to keep up to speed with the evolving crime as new investigations have risen rapidly, along with the number of victims. A lack of convictions, limited awareness among and training of professionals, and problems around data collection have blunted Britain's anti-slavery response, the report said. "Without these changes, the Act's impact will be limited," said former ministers Frank Field, Maria Miller and retired judge Elizabeth Butler-Sloss in their review of the first-of-its-kind law. About 7,000 suspected victims of modern slavery were uncovered in Britain in 2018, up a third on 2017. Almost half were children amid rising concern from the police about the growing "county lines" drug trade with gangs using teenagers as mules. Britain's minister for crime, Victoria Atkins, said that the government would fully respond to the review's recommendations, yet did not provide a timeframe. "Through the Modern Slavery Act, the government is committed to ensuring victims get the support they need and perpetrators are brought to justice," Atkins said in a statement. The three officials made more than 80 recommendations but focused on four main areas of the law, from tackling slavery in supply chains to the role of the independent anti-slavery ch

Business MTN has 9 days to settle its NCC fine as stocks rally

The Nigerian Communications Commission (NCC) has issued MTN a A fine of N1.04 trillion was imposed on the mobile network operator in October 2015 for failure to disconnect about 5.2 million subscribers, whose Subscriber Identification Module (SIM) lines were not registered properly within a given deadline. Despite the irregularity in registration, economic activities were carried out on the lines, an infraction of the provisions of the Telephone Subscribers Registration Regulations 2011, as provided by the NCC. According to the Executive Vice Chairman of NCC, Umar Danbatta, it was agreed that MTN would pay a balance of N280 billion in six tranches, following six months of negotiation which led to the reduction of the initial fine to N330 billion.

Listeriosis hits Tiger Brands' meat trade

The value-added meat products business reports poor performance in the six months to end-March As the deadly listeriosis outbreak loomed large over Tiger Brands' first-half performance, lawyers representing victims of the disease on Wednesday said more potential claimants had reached out to them. Tiger Brands, SA's largest food producer with a market capitalisation of R43.7bn, is reeling from the effect of the listeriosis outbreak which left more than 200 people dead. As a result of the outbreak, the owner of the Enterprise, Bokkie and Oros brands recalled ready-to-eat processed meats such as polony and Viennas and closed four meat processing facilities. The listeriosis and the sale of the firm's 49.1-million shares in listed fishing company Oceana Group were the main factors in the 12% drop in Tiger Brands' headline earnings per share. Tiger Brands' value-added meat products (VAMP) business, which had to shut factories in the aftermath of the outbreak in March 2018, reported a R296m operating loss. The company said the relaunch of the operations experienced difficulties "which affected service levels". Revenue from that business slumped 79% to R213m. Dirk van Vlaanderen, associate portfolio manager for Kagiso Asset Management, said on Wednesday the financial effect of the listeriosis crisis continues to linger in the Tiger Brands results. "With the Enterprise business now operational again, we would expect this business to trend towards break-even and then a return to profitability in the medium term.

MTN discontinues 21 kilometre race to focus on ICT initiatives

JOHANNESBURG, May 22 (ANA) - MTN on Wednesday said that it will be discontinuing its 21km race in aid of ICT projects as this will allow it the opportunity to strengthen its focus on ICT initiatives which will benefit more beneficiaries. The MTN Group said in a statement that new and important initiatives, designed to have a positive impact on the youth, will be launched at the beginning of June. This will be part of the 2019 edition of 21 Days of Y'ello Care. Last year June saw the fifth edition of the MTN 21 km race. "We have been encouraged by the overwhelming support that the MTN 21KM race has received over the years, and are pleased with how it has contributed to and created awareness around the importance of broadening access to ICT in disadvantaged communities," general manager of the MTN SA Foundation Kusile Mtunzi-Hairwadzi said. "It was, however, more important for us to look at how we allocate our funding to ensure that even more beneficiaries are able to benefit from this." MTN thanked the thousands of runners and supporters of the race, its partners and the community of Roodepoort for getting behind the 21km race and what it represented. "Through our School Connectivity programme, we will continue to roll out multimedia centres and provide free connectivity to schools, nursing colleges and other community upliftment programmes.

All about the Master of Business Administration (MBA) degree

Full style of MBA is "Master of Business Administration". Among all well-known post graduate course, MBA is one of the popular one in India as well as in abroad. This popular degree originated first in the United States in the early 20th century.

British Steel is open to new buyers- UK business minister

LONDON, May 22 (Reuters) - British Steel, which was forced into liquidation on Wednesday after failing to secure an emergency government loan, is open to new buyers, business minister Greg Clark said on Wednesday. "It is open to new buyers," he told Sky News. (Reporting by Costas Pitas; editing by Stephen Addison).

Post 2019 Elections: Time For Electoral Reform And Dusting Off The Van Zyl Slabbert Report

In the aftermath of a highly-contested national and provincial election, questions must be asked why only 65.99% of registered voters turned out to vote, compared with 89.3% in 1999. There might be many factors contributing to this low turnout, such as voter disillusionment following State capture, corruption, lack of accountability and an ailing economy. However, there are other possible explanations:  it may be that voters do not feel that they are properly represented by the people who sit in Parliament; and that Parliament has simply become a rubber stamp in the hands of the Executive.   The real problem may be the lack of a proper relationship between voters and their representatives in Parliament - the root of which, may lie in our electoral system itself.

Shady PIC home loan deal reported to Hawks

Janine Wed, 05/22/2019 - 13:12 Teaser Media Paragraphs Ian Sinton from Standard Bank testified at the PIC inquiry. Twitter/@HeidiGiokos JOHANNESBURG - Several people from the PIC have been reported to the Directorate for Priority Crime Investigation regarding a suspicious deal. Dan Matjila, Royith Rajdhar, Wellington Masekesa from the PIC and Kholofelo Maponya were all reported to the Hawks regarding the transaction origination of fees related to a deal with SA Home Loans.

South African drugmaker Aspen in talks with potential European...

JOHANNESBURG, May 22 (Reuters) - South African drugmaker Aspen Pharmacare APNJ.J said on Wednesday it is in talks with a potential partner in Europe after announcing in March a strategic review of its European and domestic commercial pharmaceuticals businesses. Without giving details, in March, Aspen said under the first phase of the review it would split its South African commercial pharmaceuticals business into two divisions to sharpen its focus. Wednesday it advised shareholders in a brief statement to exercise caution when dealing in the company's shares..

The Edcon Deal: Insights and Lessons Learnt with CEO, Grant Pattison

Following the successful R2.7bn refinancing of retailer Edcon's debt, CEO Grant Pattison anticipates a future where the group can once again "become independent and sustainable."  The subsequent strategy to restructure the Edgars, Jet, Jet Mart and CNA brands with over 1100 stores in Southern Africa and 40000 direct employees is ambitious, Pattison admitted at a recent Gordon Institute of Business Science (GIBS) forum.  He has committed to fewer, but larger Edgars department stores with improved customer experience and service levels: "We plan to invest in stores and a curated experience, rather than pushing product and price." There will also be a renewed focus on the financial services offering.  Pattison described the business as part discounter, part department store, and part financial services provider. The credit offering is "a very important part of the business and we have to get back to the discipline of running that properly," he said.  Edcon Recapitalisation  The recapitalisation programme, which was approved by the Competition Commission at the beginning of May, sought to mitigate the dire financial position the Edcon Group found itself in and avoided potential liquidation, which would have resulted in substantial job losses.  The deal concluded binding agreements amongst existing secured lenders, the Public Investment Corporation on behalf the Unemployment Insurance Fund and participating landlords. The deal will result in the removal of all of Edcon's interest-bearing debt and introduces a new group structure and set of shareholders.

ASPEN PHARMACARE HOLDINGS LIMITED - Cautionary announcement

APN 201905220040A Cautionary announcement ASPEN PHARMACARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1985/0002935/06 Share code: APN ISIN: ZAE000066692 (‘Aspen' or ‘the Company') CAUTIONARY ANNOUNCEMENT Further to the communication in Aspen's interim results announcement made on 7 March 2019 that the Company had embarked on a strategic review of its European and South African Commercial Pharmaceuticals businesses, shareholders are advised that Aspen is currently engaged in discussions with a potential partner in Europe. Shareholders are advised to exercise caution when dealing in the Company's securities. Durban 22 May 2019 Sponsor Investec Bank Limited Date: 22/05/2019 02:00:00 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..

UPDATE 3-Tiger Brands revenue falls short after challenges at...

* Reopening of meat factory posed challenges * Domestic sales rose but exports weakened * Consumer income under pressure in South Africa (Adds CFO quotes, recasts lead) By Nqobile Dludla JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands TBSJ.J underestimated the work involved in re-establishing its processed meats business after a listeria outbreak, it said on Wednesday, leaving it with disappointing sales and a battle to reclaim market share. The outbreak in February 2018 forced the country's leading food producer to recall cold meat products such as polony and suspend operations at its facilities. Its shares now trade around 42% lower than before the first announcement regarding the listeria. Performance at the Value Added Meat Products (VAMP) division was hit by the challenges of re-opening the factory and relaunching products. Revenue in the six-months to end March tumbled by 79 percent and the unit posted an operating loss of 296 million rand. The operational challenges hit Tiger Brands harder than it expected, Chief Executive Lawrence Mac Dougall said at the results presentation alongside Chief Financial Officer Noel Doyle, who added they underestimated the complexities of re-opening a plant that had not operated for nine-months. Doyle said the facilities were re-opened slightly later than anticipated and the group ended up losing some of its key customers during the important Christmas trade. "For the most part, the internal supply chain management issues have been resolved and we are now in position to satisfy market demand," Doyle said. "The real challenge for us is that having been out of the market...

Minerals Council welcomes Merafe Resources CEO as VP

The Minerals Council South Africa has added Merafe Resources CEO Zanela Matlala as a VP. This was announced at the council's annual general meeting, on Wednesday, during which it was confirmed that Anglo American South Africa executive head Andile Sangqu and Sibanye-Stillwater CEO Neal Froneman would retain their positions as VPs. Exxaro Resources CEO Mxolisi Mgojo was also re-elected as the council's president.

Bidcorp reports improved trading conditions in S Africa

DURBAN International food services business Bid Corporation (Bidcorp) has reported improved trading conditions in South Africa in the four months to end April despite subdued consumer spending in the country.In emerging markets division the group said South Africa overall was showing improvement despite weak economic conditions. Bidfood and the Chipkins Puratos jointventure have achieved pleasing growth through good cost containment and improved margins. The aftermath of the listeriosis crisis in processed meats continues to impact the Crown Food Group business the group said.

South African drugmaker Aspen in talks with potential European partner

JOHANNESBURG, May 22 (Reuters) - South African drugmaker Aspen Pharmacare said on Wednesday it is in talks with a potential partner in Europe after announcing in March a strategic review of its European and domestic commercial pharmaceuticals businesses. Without giving details, in March, Aspen said under the first phase of the review it would split its South African commercial pharmaceuticals business into two divisions to sharpen its focus. On Wednesday it advised shareholders in a brief statement to exercise caution when dealing in the company's shares.

SA mining industry reelects top officials at AGM

JOHANNESBURG The Minerals Council South Africa on Wednesday reelected all its top officials back into office and added Zanele Matlala the chief executive of Merafe Resources who was elected as one of four vice presidents. This as the Minerals Council held its 129th Annual General Meeting where board members elected the new office bearers for 20192020.Mxolisi Mgojo chief executive of Exxaro Resources was reelected as president while Steve Phiri the chief executive of Royal Bafokeng Platinum Andile Sangqu the executive head of Anglo American South Africa and Neal Froneman the chief executive of SibanyeStillwater were all reelected as vice presidents. But the Minerals Councils board saw a number of changes as Norman Mbazima the deputy chairman of Anglo American South Africa will be retiring from the board when he retires from Anglo American in June.  Nick Holland a longstanding board member will be replaced by Martin Preece the executive vice president for South Africa at Gold Fields.Roger Baxter chief executive of the Minerals Council paid tribute to outgoing board members and welcomed the new office bearers. We welcome the new members of the board and Zanele Matlala in her new role as vice president of the Minerals Council. The Minerals Council office bearers and board members play a pivotal role in leading and representing the mining industry" Baxter said. "We are honoured to be represented by individuals of high standing with a wealth of experience and expertise and we look forward to their continued contribution towards Making Mining Matter. Going forward we will extend and reinforce our efforts in the year ahead knowing full well that all stakeholders have a shared interest in creating a mining industry that is competitive and prosperous and delivers value to all its stakeholders." African News Agency (ANA).

Africa's appetite for cryptocurrencies surges

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. The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick back upwards.

South Africans are trying to save money on food - by shopping less and stocking up on specials

Photo: South Africans have reduced their number of shopping trips a month, and the average amount spent fell from R210 in July 2018 to R194 in the first quarter of this year, data from the research firm Nielsen shows. Some 70% of consumers will buy a bigger pack if it's on promotion, and offers value. Tiger Brands, which released its half-year results on Wednesday, quoted the research to show that consumers are increasingly price sensitive.

SA mining industry re-elects top officials at AGM

JOHANNESBURG - The Minerals Council South Africa on Wednesday re-elected all its top officials back into office, and added Zanele Matlala, the chief executive of Merafe Resources, who was elected as one of four vice presidents.  This as the Minerals Council held its 129th Annual General Meeting where board members elected the new office bearers for 2019/2020. Mxolisi Mgojo, chief executive of Exxaro Resources, was re-elected as president, while Steve Phiri, the chief executive of Royal Bafokeng Platinum, Andile Sangqu the executive head of Anglo American South Africa, and Neal Froneman, the chief executive of Sibanye-Stillwater, were all re-elected as vice presidents.  But the Minerals Council's board saw a number of changes as Norman Mbazima, the deputy chairman of Anglo American South Africa, will be retiring from the board when he retires from Anglo American in June.   Nick Holland, a long-standing board member, will be replaced by Martin Preece, the executive vice president for South Africa at Gold Fields. Roger Baxter, chief executive of the Minerals Council paid tribute to outgoing board members and welcomed the new office bearers.  "We welcome the new members of the board, and Zanele Matlala in her new role as vice president of the Minerals Council.

OPINION: South Africas political and investment view

JOHANNESBURG   South Africa has just completed its 6th democratic national elections and saw a majority win of 57.5% by the ruling party the African National Congress (ANC). The result is considered a respectable win for a party that has been accused of rampant corruption weak economic growth poor stateowned entity management and a policy stall. Much of the malaise  has taken place under the leadership of the previous president Jacob Zuma.

UPDATE 3-Tiger Brands revenue falls short after challenges at meat unit

* Reopening of meat factory posed challenges * Domestic sales rose but exports weakened * Consumer income under pressure in South Africa (Adds CFO quotes, recasts lead) By Nqobile Dludla JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands underestimated the work involved in re-establishing its processed meats business after a listeria outbreak, it said on Wednesday, leaving it with disappointing sales and a battle to reclaim market share. The outbreak in February 2018 forced the country's leading food producer to recall cold meat products such as polony and suspend operations at its facilities. Its shares now trade around 42% lower than before the first announcement regarding the listeria.

Yoga principles can help us realign the business world

At the end of my favorite Sunday morning "flow" yoga class, stretched out on my mat and melting toward savasana , my body began to relax but my brain continued to fret about the week ahead: Will people like the keynote I'm giving on Thursday? What about that pending advisory role? How might I be more productive, period? Wait a second! Wasn't our instructor just saying that the yoga principle of brahmacharya , or moderation, is an antidote to modern society's turbo-charged focus on productivity? And last week, didn't we learn that asteya (non-stealing) can include stealing precious time from our own selves—just as I was doing right then? In that moment, it hit me. The worlds of yoga and work ought to be—perhaps urgently, desperately need to be—in touch with one another…..

British Steel is open to new buyers- UK business minister

LONDON, May 22 (Reuters) - British Steel, which was forced into liquidation on Wednesday after failing to secure an emergency government loan, is open to new buyers, business minister Greg Clark said on Wednesday. "It is open to new buyers," he told Sky News..

Tiger Brands revenue falls short after challenges at meat unit

By Nqobile Dludla JOHANNESBURG (Reuters) - South Africa's Tiger Brands underestimated the work involved in re-establishing its processed meats business after a listeria outbreak, it said on Wednesday, leaving it with disappointing sales and a battle to reclaim market share. The outbreak in February 2018 forced the country's leading food producer to recall cold meat products such as polony and suspend operations at its facilities. Its shares now trade around 42% lower than before the first announcement regarding the listeria. Performance at the Value Added Meat Products (VAMP) division was hit by the challenges of re-opening the factory and relaunching products. Revenue in the six-months to end March tumbled by 79 percent and the unit posted an operating loss of 296 million rand. The operational challenges hit Tiger Brands harder than it expected, Chief Executive Lawrence Mac Dougall said at the results presentation alongside Chief Financial Officer Noel Doyle, who added they underestimated the complexities of re-opening a plant that had not operated for nine-months. Doyle said the facilities were re-opened slightly later than anticipated and the group ended up losing some of its key customers during the important Christmas trade.

Why mental health is key to your success as an entrepreneur

The reality of entrepreneurship comes with a lot of frustration and pressure to keep your business running. How do you cope with the stresses that come with owning a company without compromising your mental health? Azania spoke to Growthpoint Properties head of corporate social responsibility Shawn Theunissen, who says in his experiences with entrepreneurship, coping mechanisms are not often taught. He says individuals tend to hide their issues from their partners and tend to isolate themselves.

GOLD FIELDS LIMITED - Results of AGM of Gold Fields Limited held on 21 May 2019 and changes to the directors.

GFI 201905220042A Results of AGM of Gold Fields Limited held on 21 May 2019 and changes to the directors. Gold Fields Limited Incorporated in the Republic of South Africa) Registration Number 1968/004880/06) JSE, NYSE, DIFX Share Code: GFI ISIN: ZAE000018123 ‘Gold Fields' or ‘the Company') RESULTS OF ANNUAL GENERAL MEETING OF GOLD FIELDS LIMITED HELD ON 21 MAY 2019 AND CHANGES TO THE DIRECTORS Shareholders are advised that at the Annual General Meeting of Gold Fields Limited held on Tuesday 21 May 2019, the ordinary and special resolutions, as well as advisory endorsement of the company's remuneration policy, as set out in the notice of the annual general meeting dispatched to shareholders on 22 March 2019 were passed, on a poll, by the requisite majorities. Details of the results of the voting are as follows: Total issued share capital: 828,637,707 Total number of shares present/ represented including proxies at the meeting: 712 867 074 being 86% of the total votable shares Ordinary Number of Shares Shares Shares resolutions shares voted for: voted abstained voted against: : 1.Re-appointment 712 218 458 712 000 398 218 060 648 616 of auditors % of total % of shares % of % of issued voted shares total shares voted issued shares 100% 99,97% 0,03% 0.08% 710 585 666 710 227 935 357 731 2 281 408 2.1 Re-election % of total % of shares % of % of issued voted shares total of a director: shares voted issued P Mahanyele- Dabengwa shares 100% 99.95% 0,05% 0,28% 710 585 666 710 227 935 357 731 2 281 408 2.2 Re-election % of total % of total % of total % of of a director: issued issued issued total PA Schmidt shares shares shares issued shares 100% 99.81% 0.19% 0.27% 710 590 810 708 936 330 1 654 480 2 276 264 2.3 Re-election of total % of total % of total % 0 of of a director: issued issued issued total A Andani shares shares shares issued shares 100% 99.77% 0.23% 0.27% 710 583 824 710 189 817 394 007 2 283 250 %of total %of total %of total %of total 2.4 Re-election issued issued issued issued o

Congo Republic's IMF bailout at risk over debt deals -document

JOHANNESBURG/LONDON (Reuters) - Advisers to Congo Republic's government have warned it that there is a "major risk" the International Monetary Fund (IMF) will reject its bid for a long-sought bailout, according to a letter obtained by Reuters. A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P.

Mines in NC polluting water

Violators are spread across every province and include major corporations such as AngloGold Ashanti, De Beers, Glencore and Anglo American Platinum Picture: Karen Sandison African News Agency (ANA) SEVERAL mines in the Northern Cape are not complying with water usage licensing (WUL) requirements, including several big names in the industry, like De Beers' Finsch and Namaqualand mines, as well as Transhex. According to statistics released in Parliament, 118 mines around South Africa are polluting rivers, inadequately testing for contamination or otherwise dirtying South Africa's waterways. The figures, released by the Minister of Water and Sanitation, Gugile Nkwinti, also show that 115 mines are known to be operating without proper water permits.

Why mental health is key to your success as an entrepreneur

The reality of entrepreneurship comes with a lot of frustration and pressure to keep your business running. How do you cope with the stresses that come with owning a company without compromising your mental health? Azania spoke to Growthpoint Properties head of corporate social responsibility Shawn Theunissen, who says in his experiences with entrepreneurship, coping mechanisms are not often taught. He says individuals tend to hide their issues from their partners and tend to isolate themselves. Not speaking to your partner you are actually taking that strain on yourself and you isolate yourself; you are not sharing with others because the bills need to get paid, staff need to get paid. It is at those critical points that if you do not have the tools to assist you, those are the times you make the wrong decisions - suicide is an option and running away is an option. Clinical psychologist Gerald Williamson says the common outcomes for a highly stressed person include depression, anxiety disorders and more. Your ability to deal with high levels of tension and anxiety will determine how much an entrepreneurial relationship you can take on, so we are not all ok and ready to take on entrepreneurship, in my opinion. Theunissen says one should learn to enjoy the journey, have an identity beyond business which includes a support network and friendships.

Tiger Brands still feeling the pinch after deadly listeriosis outbreak

JOHANNESBURG - Tiger Brands is still feeling the aftermath of the deadly listeriosis outbreak. Africa's biggest publicly traded packaged-food company, saw profits drop 12% in the six months through to March. But while the dividend declined, the company did declare a special payout of R3,06 a share following the sale of its stake in the fishing business, the Oceana Group.

'Ethnic fights cost lives,' says prosecutor in black business mogul's k-word trial

Businessman Peter-Paul Ngwenya's use of a derogatory racial term was meant to insult and dehumanise his former best friend, Fani Titi. This was the argument presented by the state on Wednesday during closing arguments from the prosecution and defence being heard in the Randburg Magistrate's Court. Ngwenya, who spent almost five years on Robben Island, is facing charges of contravening a protection order and of crimen injuria for allegedly calling Investec chair and long-term friend Titi the k-word in a text message.

Tiger Brands still feeling the pinch after deadly listeriosis outbreak

lubabalo.konzapi Wed, 05/22/2019 - 15:48 Teaser Media Paragraphs File: Tiger Brands warehouse. Gallo JOHANNESBURG - Tiger Brands is still feeling the aftermath of the deadly listeriosis outbreak. Africa's biggest publicly traded packaged-food company, saw profits drop 12% in the six months through to March.

Reinet scans ahead to beat economic downturn

DURBAN Reinet Investments has warned that rising debt levels global uncertainty and political divisions in Europe and the US would force it to explore new markets in order to grow.The group said while finding good opportunities for investment would be difficult protecting the downside had become more important.In times of uncertainty Reinets approach is to maintain value for its shareholders in the longterm the group said. Our focus will remain on businesses that we understand and business partners that we know and trust. Reinet reported a 5.8 percent decline in its net asset value (NAV) for the year to end March negatively impacted by a decline in the British American Tobacco (BAT) share price.The decline led to the companys NAV falling by 297 million (R4.77 billion) during the period from the 5.13bn recorded last year.

The 10% hack that will get your business game back on

- 13:52 Author:  Business leaders, entrepreneurs, startups, and fintech gurus are all facing the reality that their enterprises need to understand and effectively respond to disruption, uncertainty, and rapid technological advancement if they are to avoid obsolescence. But too many don't have a strategy for innovation and instead go for a try-it-all approach which is counter-productive, a leadership expert says. "We all know that the world of work and business is changing and transforming rapidly, even exponentially," says Debbie Goodman-Bhyat, leadership strategist and founder of Jack Hammer, Africa's largest executive search firm which recently expanded its footprint to the USA; as well as global online coaching platform Virtual Coaching Partners.

BARLOWORLD LIMITED - Appointment of Finance Director - BIBAW

BAW19 BAW21 BC124 BAW18 BAW30 BAW28 BAW22 BAW24 BAW29 BAW25 201905220046A Appointment of Finance Director - BIBAW Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Bond issuer code: BIBAW) (‘Barloworld' or the ‘Company') CHANGE TO THE BOARD OF DIRECTORS: APPOINTMENT OF FINANCE DIRECTOR In compliance with paragraph 3.59 of the Listing Requirements of JSE Limited, shareholders are hereby advised that Miss Nopasika Lila has been appointed as the Group Finance director of Barloworld Limited with effect from 1 August 2019. Nopasika is a chartered accountant with more than 20 years of experience in finance, corporate governance and pension industry. She has financial and business acumen gained from various roles across both the private and public sectors. She has a Post Graduate Diploma in Accountancy from the University of KwaZulu-Natal, Bachelor of Accounting Science from Walter Sisulu University, Woman in Insurance Management Development Programme from Gordon Institute of Business Science and Higher Certificate in Financial Markets and Instruments from The Academy of Financial Markets. Nopasika currently serves on the boards of enX Group Limited, Nampak Limited and Batseta - Council of Retirement Funds of South Africa. She also serves as an Audit Committee member for Nampak Limited and EnX Group Limited, chairperson of the Risk and Sustainability Committee of Nampak Limited, is a member of Investment Advisory Committee of Invest Africa Private Equity Fund 2 L.P and the Financial and Integrated Reporting Sub-Committee of CFO South Africa. The Board welcomes Nopasika into her role and looks forward to her contribution. Sandton 22 May 2019 Debt Sponsor Absa Bank Limited (acting through its Corporate and Investment Bank division) Date: 22/05/2019 04:00:00 Produced by the JSE SENS Department.

South African Markets - Factors to watch on May 22

LEWIS:   3,250     0 (0.00%)   22/05/2019 00:00 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 inflation data for April at 0800 GMT. COMPANIES Tiger Brands will publish earnings for the first half of its financial year, while Lewis Group will release its full-year results. SOUTH AFRICAN MARKETS South Africa's rand steadied in late afternoon trade on Tuesday, recovering from losses earlier in the session as developing world currencies weakened on fears the protracted China-U.S trade conflict may have already begun to impact Asian economies. GLOBAL MARKETS Asian stocks struggled for traction on Wednesday, as relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about an intensifying trade war between the world's two largest economies. WALL STREET Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. GOLD Gold edged lower on Wednesday to hover near a two-week low, as a stronger dollar and signs of easing Sino-U.S. friction dented demand for bullion ahead of the minutes from U.S. Federal Reserve's latest meeting. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Tito Mboweni bemoans 'madness' of Eskom debt - Another technical recession 'probable' BUSINESS REPORT - OECD slashes SA's growth forecast to 1.2% 2019-05-22 07.

Ciara headed to Harvard Business School

JOHANNESBURG - American singer Ciara has been accepted into an executive education programme at Harvard. The Level Up hitmaker announced the news of her acceptance at the Ivy League's business school on Instagram and said she is excited about the amazing opportunity. "I always dreamt of going to college, but by God's grace, my music career took me on a path that I'm so thankful for.

South Africa's Tiger Brands revenue misses estimates

TIGBRANDS:   23,000     0 (0.00%)   22/05/2019 00:00 (Recasts with revenue, adds details) JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands on Wednesday reported first-half revenue below analysts' expectations on the back of lower sales in international markets and continued pressure on consumer spending. The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said group revenue for the six-months ended March 31 fell by 2% to 15.4 billion rand, compared with analysts' expectations of 15.7 billion rand in a Refinitiv poll. "During the period under review, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins," the food producer said in a statement. South African retailers and food producers are struggling to lift sales growth to double digits as consumers are dealing with a value-added tax hike, record fuel increases and rising utility costs, which have all intensified pressure on consumers' disposable income. Domestic revenue excluding the Value Added Meat Products (VAMP) business was 6% higher, driven by volume growth and inflation at 4%. While revenue from exports and international markets fell by 11% due to lower export volumes and price deflation in international markets. The food producer said all categories, except sorghum-based products, maize, pasta and Baby Care recorded selling price inflation, however the increases were not sufficient "to fully recover cost increases, resulting in negative operating leverage." Tiger Brands and its peers are grappling with an industry that has become more competitive as manufacturers attempt to find the balance between maintaining volumes and pricing pressures, forcing them to dip into their margins to stay competitive. Headline earnings per share (HEPS) from continuing operations in the period dropped by 12% to 762 cents from 868

UPDATE 2-Oil falls on rising U.S. stockpiles, but markets remain tense

* U.S. crude stocks rise by 2.4 mln barrels to 480.2 mln-API * Saudi pledges to keep oil markets balanced and sustainable * Saudi Arabia has led supply cuts since start of the year * Global oil demand growth slows amid trade tensions-BoAML (Adds Morgan Stanley (NYSE:MS) forecast, updates prices) By Aaron Sheldrick and Henning Gloystein TOKYO/SINGAPORE, May 22 (Reuters) - Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced. However, analysts said oil markets remained tight amid supply cuts led by producer group OPEC and as political tension escalates in the Middle East. Brent crude futures LCOc1 were down 36 cents, or 0.5 percent, at $71.82 at barrel by 0414 GMT. U.S.

Tiger Brands profit drops 12% in wake of listeriosis outbreak

Tiger Brands [JSE:TBS] said first-half profit fell as Africa's biggest publicly traded packaged-food company battles to overcome weak economic growth and the aftermath of a deadly outbreak of listeriosis. Earnings before one-time items dropped 12% to R7.59 a share in the six months through to March. While the interim dividend declined, the Johannesburg-based company declared a special payout of R3.06 a share after it spun-off its stake in its fishing business the Oceana Group.

SA trade show to support entrepreneurs and business development in July

JOHANNESBURG, May 22 (ANA) - Business opportunities, networks and knowledge for entrepreneurs and owners of small- and medium-sized businesses will be the key focus of the 2019 Global Trade Show of Networking and Match-Making South Africa in July, organisers said..

UPDATE 1-South Africa's Tiger Brands revenue misses estimates

(Recasts with revenue, adds details) JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands TBSJ.J on Wednesday reported first-half revenue below analysts' expectations on the back of lower sales in international markets and continued pressure on consumer spending.The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said group revenue for the six-months ended March 31 fell by 2% to 15.4 billion rand, compared with analysts' expectations of 15.7 billion rand in a Refinitiv poll. "During the period under review, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins," the food producer said in a statement. South African retailers and food producers are struggling to lift sales growth to double digits as consumers are dealing with a value-added tax hike, record fuel increases and rising utility costs, which have all intensified pressure on consumers' disposable income.Domestic revenue excluding the Value Added Meat Products (VAMP) business was 6% higher, driven by volume growth and inflation at 4%. While revenue from exports and international markets fell by 11% due to lower export volumes and price deflation in international markets. The food producer said all categories, except sorghum-based products, maize, pasta and Baby Care recorded selling price inflation, however the increases were not sufficient "to fully recover cost increases, resulting in negative operating leverage." Tiger Brands and its peers are grappling with an industry that has become more competitive as manufacturers attempt to find the balance between maintaining volumes and pricing pressures, forcing them to dip into their margins to stay competitive. Headline earnings per share (HEPS) from continuing operations in the period dropped by 12% to 762 cents from 868 cents a year earlier. Tiger Brands declared an interim dividend of 321 cents per share

TIGER BRANDS LIMITED - Trading Statement for the year ended 30 September 2019

TBS 201905220007A Trading Statement for the year ended 30 September 2019 TIGER BRANDS LIMITED ‘Tiger Brands' or ‘the Company' (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 TRADING STATEMENT FOR THE YEAR ENDING 30 SEPTEMBER 2019 Shareholders are hereby advised that, due to the unbundling of the Company's interest in Oceana Group Limited (Oceana), with effect from 29 April 2019, a reasonable degree of certainty exists that the total earnings per share (EPS) of the Company for the year ending 30 September 2019, will be more than 20% (or more than 291.5 cents) higher than the amount of 1 457.7 cents per share reported in the previous year. The unbundling of the Company's interest in Oceana gave rise to an unrealised fair value gain of R1 630.4 million through the income statement. This gain has no impact on headline earnings per share as it has been excluded for headline earnings purposes. A further trading statement will be issued as soon as there is a reasonable degree of certainty as to the likely range within which the Company's earnings per share will increase compared to the previous year. The information above has not been reviewed or reported on by the Company´s auditors. Bryanston 22 May 2019 Sponsor J.P. Morgan Equities South Africa Proprietary Limited Date: 22/05/2019 07:32:00 Produced by the JSE SENS Department.

HOSKEN CONSOLIDATED INVESTMENTS LIMITED - Trading Statement

HCI 201905220017A Trading Statement HOSKEN CONSOLIDATED INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration number 1973/007111/06) (Share code: HCI & ISIN: ZAE000003257) (‘HCI' or ‘the company') TRADING STATEMENT In terms of section 3.4 (b) of the JSE Limited Listings Requirements, companies are required to publish a trading statement as soon as they are reasonably certain that the financial results for the current reporting period will be more than 20% different than that of the previous corresponding period. Shareholders are hereby advised that a reasonable degree of certainty exists that for the year ended 31 March 2019, the Company will report basic earnings per share of between 772.7 cents and 879.0 cents, being a decrease of between 27.3% and 17.3% as compared to basic earnings per share of 1 062.9 cents for the prior year, and headline earnings per share of between 1 134.4 cents and 1 266.0 cents, being a decrease of between 13.8% and 3.8% as compared to headline earnings per share of 1 316.0 cents for the prior year. The above information has not been reviewed or reported on by the Company`s auditors. The Company`s results are expected to be published on or about 23 May 2019. Cape Town 22 May 2019 Sponsor: Investec Bank Limited Date: 22/05/2019 09:00:00 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.

Business Maverick: Hybrid CDOs Are cheapest thing in the entire globe.

Home Page JTNDZGl2JTIwaWQlM0QlMjJOZ<wbr/>WFyQnV5TGluayUyMiUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUzQ2RpdiUyMGNsYXN<wbr/>zJTNEJTIyY29udGFpbmVyJTIyJTNFJ<wbr/>TBBJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTNDZGl2JTIwc3R5bGUlM0Q<wbr/>lMjJ3aWR0aCUzQSUyMDI2MHB4JTNCJ<wbr/>TIwZGlzcGxheSUzQSUyMHRhYmxlJTN<wbr/>CJTIwdGV4dC1hbGlnbiUzQSUyMGNlb<wbr/>nRlciUzQiUyMG1hcmdpbiUzQSUyMDA<wbr/>lMjBhdXRvJTNCJTIyJTNFJTBBJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTBBJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTNDJTIxLS0lMjBOZWFyJ<wbr/>TIwQnV5JTIwTGluayUyMDElMjAtLSU<wbr/>zRSUwQSUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUwOSUzQ2RpdiUyMHN0e<wbr/>WxlJTNEJTI3ZGlzcGxheSUzQSUyMG5<wbr/>vbmUlM0IlMjclM0UlMEElMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlM0MlMjEtLSUyMHRzaHd<wbr/>pZmkuY29tJTJGaG9tZV9sb2NhbF9sa<wbr/>W5rX2xlZnQlMjAtLSUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUyMCUzQ2RpdiUyMGlkJ<wbr/>TNEJTI3ZGl2LWdwdC1hZC05NDM4MTM<wbr/>yLTEwJTI3JTIwc3R5bGUlM0QlMjdoZ<wbr/>WlnaHQlM0E4MHB4JTNCJTIwd2lkdGg<wbr/>lM0ExMDAlMjUlM0IlMjclM0UlMEElM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlM0NzY3JpcHQ<wbr/>lM0UlMEElMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjBnb<wbr/>29nbGV0YWcuY21kLnB1c2glMjhmdW5<wbr/>jdGlvbiUyOCUyOSUyMCU3QiUyMGdvb<wbr/>2dsZXRhZy5kaXNwbGF5JTI4JTI3ZGl<wbr/>2LWdwdC1hZC05NDM4MTMyLTEwJTI3J<wbr/>TI5JTNCJTIwJTdEJTI5JTNCJTBBJTI<wbr/>w

Oil falls on rising U.S. stockpiles, but markets remain tense

* U.S. crude stocks rise by 2.4 mln barrels to 480.2 mln-API * Saudi pledges to keep oil markets balanced and sustainable * Saudi Arabia has led supply cuts since start of the year * Global oil demand growth slows amid trade tensions-BoAML (Adds Morgan Stanley forecast, updates prices) By Aaron Sheldrick and Henning Gloystein TOKYO/SINGAPORE, May 22 (Reuters) - Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced. However, analysts said oil markets remained tight amid supply cuts led by producer group OPEC and as political tension escalates in the Middle East. Brent crude futures were down 36 cents, or 0.5 percent, at $71.82 at barrel by 0414 GMT. U.S.

Delmas business robbery, police hunt 5 suspects

Members of the South African Police Service in Mpumalanga are looking for five suspects who robbed a shop in the Central Business District of Delmas on Tuesday, 21 May 2019. According to a police report the suspects entered the shop pretending to be customers, when suddenly they pounced on the staff members instructing them to lie down. They then went behind the counter and took two crates containing an undisclosed amount of cash and fled the scene.

South Africa's Tiger Brands H1 earnings fall 12%

JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands TBSJ.J posted a 12% fall in half-year earnings on Wednesday, due to continued pressure on consumer spending and lower sales in international markets.The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said headline earnings per share (HEPS) from continuing operations in the six months ended March 31 dropped to 762 cents from 868 cents a year earlier. HEPS is the main profit measure in South Africa and strips out certain one-off items. Tiger Brands declared an interim dividend of 321 cents per share for the first half to March, down 15% due to recent changes in the group's dividend policy. It also declared a special dividend of 306 cents per share as a result of the once-off proceeds received from Brimstone sale..

SASOL LIMITED - Update on the Lake Charles Chemicals Project

SOL SOLBE1 201905220001A Update on the Lake Charles Chemicals Project Sasol Limited Sasol Ordinary Share codes: JSE: SOL NYSE: SSL Sasol Ordinary ISIN codes: ZAE000006896 US8038663006 Sasol BEE Ordinary Share code: JSE: SOLBE1 Sasol BEE Ordinary ISIN code: ZAE000151817 (‘Sasol' or ‘the Company') UPDATE ON THE LAKE CHARLES CHEMICALS PROJECT (‘LCCP') In the Company's trading statement, released by the Stock Exchange News Service on 8 February 2019, updated guidance was provided for the LCCP's schedule and capital costs, which were estimated in the range of $11,6 to $11,8 billion. Following this announcement a number of changes were made to the management of the LCCP, with project accountability immediately reassigned to the Executive Vice President of Chemicals, Fleetwood Grobler and the strengthening of our project controls organisation. This team became concerned regarding the accuracy of the project's cost forecast and, as a consequence, our third quarter Business Performance Metrics announcement in April 2019 indicated that the LCCP's cost was tracking the upper end of the range. Management also initiated a full review of the costs and schedule until project completion with input from independent technical and financial advisers. This review identified significant additional concerns related to the LCCP forecasting process and a marked increase in the projected total cost.

Tiger Brands interim results March 2019

Revenue for the interim period decreased to R15.402 billion (2018: R15.685 billion), gross profit lowered to R4.822 billion (2018: R5.217 billion), profit for the period attributable to owners of the parent rose to R1.431 billion (2018: R1.407 billion), while headline earnings per ordinary share continuing operations decreased to 761.9 cents per share (2018: 868.3 cents per share). Ordinary and special dividend The company has declared an ordinary dividend of 321 cents per share for the six-month period ended 31 March 2019, which represents a 15% decrease on the interim dividend of 378 cents per share declared last year. The lower ordinary dividend takes into account the recent change in the group's dividend policy to a cover of 1,75 times, and is calculated off the reduced headline earnings base in this period.

TIGER BRANDS LIMITED - Unaudited group results and dividend declaration for the six months ended 31 March 2019

TBS 201905220005A Unaudited group results and dividend declaration for the six months ended 31 March 2019 TIGER BRANDS LIMITED Registration number: 1944/017881/06 Incorporated in the Republic of South Africa Share code: TBS ISIN: ZAE000071080 Unaudited group results and dividend declaration for the six months ended 31 March 2019 Salient features - Revenue of R15,4 billion from continuing operations down 2% (excluding VAMP up 4%) - Ordinary dividend of 321 cps Special dividend of 306 cps Total interim dividend of 627 cps - Operating income* R1,5 billion down 24% (excluding VAMP down 9%) - Home and Personal Care post a strong recovery - HEPS from continuing operations down 12% to 762 cents (excluding Oceana impact down 2%) - Oceana unbundling impacts like-for-like comparison * Before IFRS 2 charges, impairments and abnormal items from continuing operations. Commentary Tiger Brands delivers a mixed set of results under difficult trading conditions During the period under review, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins. Group revenue of R15,4 billion from continuing operations was down 2% compared with the corresponding period last year, which included Easter seasonal volumes. Domestic revenue excluding Value Added Meat Products (VAMP) was 6% higher driven by 2% volume growth and 4% inflation.

IG Group predicts profit slump as markets, regulation bite

May 22 (Reuters) - Online financial trading platform IG Group Holdings Plc on Wednesday forecast a sharp fall in full-year net trading revenue and operating profit, saying it was continuing to suffer from low levels of financial market volatility. The mid-cap company said it expected full-year net trading revenue would fall 17 percent to around 475 million pounds ($603.06 million) from 569 million last year, while operating profit would sink to 190 million pounds from 281 million pounds. IG and other online traders have been battling an erosion of their client bases due to a clampdown in Britain and the European Union on financial betting. It said in a separate statement that it expects revenue to jump 30% in fiscal 2022 compared to the current year as it laid out an update to its strategy. ($1 = 0.7876 pounds) (Reporting by Muvija M in Bengaluru; editing by Patrick Graham) 2019-05-22 08.

UPDATE 1-South Africa's Tiger Brands revenue misses estimates

(Recasts with revenue, adds details) JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands on Wednesday reported first-half revenue below analysts' expectations on the back of lower sales in international markets and continued pressure on consumer spending. The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said group revenue for the six-months ended March 31 fell by 2% to 15.4 billion rand, compared with analysts' expectations of 15.7 billion rand in a Refinitiv poll. "During the period under review, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins," the food producer said in a statement.

SA trade show to support entrepreneurs and business development in July

JOHANNESBURG, May 22 (ANA) - Business opportunities, networks and knowledge for entrepreneurs and owners of small- and medium-sized businesses will be the key focus of the 2019 Global Trade Show of Networking and Match-Making South Africa in July, organisers said. The July 29-31 exhibition showcases thousands of products across various import and export opportunities and connects people seeking to establish, grow or diversify a business with the right people, said Anina Hough, a director at GTS Africa which organises the show. "Access to markets and strong networks are two of the main obstacles currently facing entrepreneurs and small- to medium-sized businesses," Hough said. "The Global Trade Show of Networking and Match-Making South Africa offers a unique platform for entrepreneurs to explore local and international markets, as well as to develop vital business linkages across the globe." "Embassies, trade missions, government, parastatals, associations and companies all support GTS, giving entrepreneurs and other business owners much-needed access to many markets - provincial, local, continental, regional and international," Hough added." With more than six million people in South Africa currently unemployed and youth unemployment currently at 3.3 million, the show aims to play a significant and constructive role in addressing this. One of the themes this year will highlight intra-African trade, in addition to trade between Africa, South Africa and the rest of the world. "We aim to maximise trade opportunities - locally, continentally and globally - so that our economy can grow and more jobs can be created," Hough said. She said as many as 95 percent of exhibitors at last year's show had generated leads, with several of these deals concluded at the event. - African News Agency (ANA), Editing by Stella Mapenzauswa.

South African Markets - Factors to watch on May 22

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 inflation data for April at 0800 GMT. COMPANIES Tiger Brands TBSJ.J will publish earnings for the first half of its financial year, while Lewis Group LEWJ.J will release its full-year results. SOUTH AFRICAN MARKETSSouth Africa's rand steadied in late afternoon trade on Tuesday, recovering from losses earlier in the session as developing world currencies weakened on fears the protracted China-U.S trade conflict may have already begun to impact Asian economies. .J ZAR/ GLOBAL MARKETS Asian stocks struggled for traction on Wednesday, as relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about an intensifying trade war between the world's two largest economies. MKTS/GLOB WALL STREET Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. .N GOLD XAU= Gold edged lower on Wednesday to hover near a two-week low, as a stronger dollar and signs of easing Sino-U.S. friction dented demand for bullion ahead of the minutes from U.S. Federal Reserve's latest meeting.GOL/ EMERGING MARKETS For the top emerging markets news, double click on - - - Some of the main stories out in the South African press: BUSINESS DAY - Tito Mboweni bemoans 'madness' of Eskom debt- Another technical recession 'probable'BUSINESS REPORT- OECD slashes SA's growth forecast to 1.2%.

REINET INVESTMENTS S.C.A - Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend

RNI 201905210005A Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend Reinet Investments S.C.A. (Incorporated in Luxembourg) ISIN: LU0383812293 Code: RNI COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2019 AND PROPOSED DIVIDEND The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the year ended 31 March 2019. Key financial data - Reinet's net asset value of EUR 4.8 billion reflects a compound return of 10 per cent per annum in euro terms, since March 2009, including dividends paid - The net asset value at 31 March 2019 reflects a decrease of EUR 297 million or 5.8 per cent from EUR 5 127 million at 31 March 2018 - Net asset value per share at 31 March 2019: EUR 25.30 (31 March 2018: EUR 26.17) - Share buyback programme: 5.02 million shares repurchased as at 31 March 2019 for a consideration of EUR 68 million - Commitments totalling EUR 223 million in respect of new and existing investments made during the year, and a total of EUR 250 million funded during the year - Dividends from British American Tobacco during the year amounted to EUR 148 million - Reinet dividend of some EUR 35 million, or EUR 0.18 per share, paid during the year - Proposed Reinet dividend of EUR 0.19 per share payable after the 2019 annual general meeting Reinet Investments S.C.A.

SA trade show to support entrepreneurs and business development in July

JOHANNESBURG - Business opportunities, networks and knowledge for entrepreneurs and owners of small- and medium-sized businesses will be the key focus of the 2019 Global Trade Show of Networking and Match-Making South Africa in July, organisers said. The July 29-31 exhibition showcases thousands of products across various import and export opportunities and connects people seeking to establish, grow or diversify a business with the right people, said Anina Hough, a director at GTS Africa which organises the show. "Access to markets and strong networks are two of the main obstacles currently facing entrepreneurs and small- to medium-sized businesses," Hough said.

Assessing business continuity and resilience programmes

Businesspeople are comfortable talking about return on investment (ROI), but this may not be the right way to assess spend on business continuity and resilience programmes. Arguably, looking at the total value of the investment (VOI) is a far better way of assessing the worth of an investment with many intangible benefits. ROI discussions are useful when the amount invested can be linked to the amount the investment returns, but sometimes returns include intangibles that have huge worth that is hard to express in monetary terms.

South African drugmaker Aspen in talks with potential European partner

ASPEN:   10,401     +51 (+0.49%)   22/05/2019 00:00 JOHANNESBURG, May 22 (Reuters) - South African drugmaker Aspen Pharmacare said on Wednesday it is in talks with a potential partner in Europe after announcing in March a strategic review of its European and domestic commercial pharmaceuticals businesses. Without giving details, in March, Aspen said under the first phase of the review it would split its South African commercial pharmaceuticals business into two divisions to sharpen its focus. On Wednesday it advised shareholders in a brief statement to exercise caution when dealing in the company's shares. (Reporting by Nqobile Dludla, editing by Louise Heavens) 2019-05-22 14.

Aspen in talks with potential European partner

Following a strategic review of its European and domestic commercial pharmaceuticals businesses. South African drugmaker Aspen Pharmacare said on Wednesday it is in talks with a potential partner in Europe after announcing in March a strategic review of its European and domestic commercial pharmaceuticals businesses. Without giving details, in March, Aspen said under the first phase of the review it would split its South African commercial pharmaceuticals business into two divisions to sharpen its focus.

REINET INVESTMENTS S.C.A - Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend

RNI 201905210005A Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend Reinet Investments S.C.A. (Incorporated in Luxembourg) ISIN: LU0383812293 Code: RNI COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2019 AND PROPOSED DIVIDEND The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the year ended 31 March 2019. Key financial data - Reinet's net asset value of EUR 4.8 billion reflects a compound return of 10 per cent per annum in euro terms, since March 2009, including dividends paid - The net asset value at 31 March 2019 reflects a decrease of EUR 297 million or 5.8 per cent from EUR 5 127 million at 31 March 2018 - Net asset value per share at 31 March 2019: EUR 25.30 (31 March 2018: EUR 26.17) - Share buyback programme: 5.02 million shares repurchased as at 31 March 2019 for a consideration of EUR 68 million - Commitments totalling EUR 223 million in respect of new and existing investments made during the year, and a total of EUR 250 million funded during the year - Dividends from British American Tobacco during the year amounted to EUR 148 million - Reinet dividend of some EUR 35 million, or EUR 0.18 per share, paid during the year - Proposed Reinet dividend of EUR 0.19 per share payable after the 2019 annual general meeting Reinet Investments S.C.A.

Corporate SA pushes into Poland

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. Poland is quite the flirt. It has attracted a number of JSE listed companies to its shores over the years.

JSE set for slow start on Wednesday as Tiger and Lewis report

SA's main stock exchange could get off to a slow start on Wednesday as Asian markets edge slightly higher following news that the US will temporarily allow China's Huawei to keep doing business in the country. This led to a slight improvement in risk sentiment after US President Donald Trump last week blacklisted Huawei from the American market, further escalating trade tensions between the world's two largest economies. Hong Kong's Hang Seng Index was 0.3% up on Wednesday, while Japan's Nikkei 225 was 0.1% higher and Korea's Kospi added 0.2%. China's Shanghai Composite and Australia's main benchmark were both flat. China's Tencent was 0.8% lower in Hong Kong amid a downturn in technology stocks that was sparked by the Huawei ban. That implies a weak start for major shareholder and JSE heavyweight Naspers on Wednesday. JSE-listed BHP Group was flat in Australia. Food producer Tiger Brands, which faces a class-action lawsuit relating to the deadly 2018 listeriosis outbreak, is due to report half-year results on Wednesday. Furniture retailer Lewis Group is scheduled to report annual results.

‘Open for business' Zimbabwe has little to show for $27bn

Eighteen months into his rule Emmerson Mnangagwa's mantra is still not a reality. When Emmerson Mnangagwa took over the leadership of Zimbabwe from Robert Mugabe in November 2017, he promised to revive the moribund economy and adopted a mantra he's repeated regularly ever since — "Zimbabwe is open for business." Mnangagwa, always wearing a scarf in the colours of the Zimbabwean flag, quickly set about traversing the globe to woo investment needed to revive the heavily indebted economy. By March, he'd been on at least 30 foreign visits, including trips to the US, Russia, China, the Middle East and the World Economic Forum in Davos. Together with the enthusiastic support of state media, Mnangagwa and his officials have announced more than $27 billion of planned investment ranging from new platinum mines to steel mills and hydropower dams. Eighteen months into his rule, he has little to show for it. Economic contraction The economy is in its most dire state since 2008, when inflation surged to an estimated 500 billion percent.

The basics of financing a business

From debt financing to equity financing, there are numerous ways to fund a business startup. Find out which one is the best funding model for your company?.

GLENCORE PLC - GLN -Transactions in own shares 21 May 2019

GLN 201905220027A GLN -Transactions in own shares - 21 May 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 22 May 2019 Transactions in own shares - 21 May 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: 21 May 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 5,000,000 Lowest price paid per share (GBp): 272.4500 Highest price paid per share (GBp): 277.0500 Volume weighted average price paid per share (GBp): 274.5558 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 827,657,649 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 13,758,542,417. 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 Trading venue Volume weighted Aggregated volume average price London Stock Exchange 274.7650 2,283,214 BATS 275.0297 91,422 Chi-X 274.3573 2,625,364 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

SA trade show to support entrepreneurs and business development in July

Business opportunities, networks and knowledge for entrepreneurs and owners of small- and medium-sized businesses will be the key focus of the 2019 Global Trade Show of Networking and Match-Making South Africa in July, organisers said. The July 29-31 exhibition showcases thousands of products across various import and export opportunities and connects people seeking to establish, grow or diversify businesses with the right people, said Anina Hough, a director at GTS Africa which organises the show. "Access to markets and strong networks are two of the main obstacles currently facing entrepreneurs and small- to medium-sized businesses," Hough said.

BRIEF-Tiger Brands Says HY HEPS From Continuing Operations Down 12%

May 22 (Reuters) - Tiger Brands Ltd TBSJ.J :* UNAUDITED GROUP RESULTS AND DIVIDEND DECLARATION FOR THE SIX MONTHS ENDED 31 MARCH 2019 * HY HEPS FROM CONTINUING OPERATIONS DOWN 12% TO 762 CENTS (EXCLUDING OCEANA IMPACT DOWN 2%) * HY REVENUE OF R15,4 BILLION FROM CONTINUING OPERATIONS DOWN 2% (EXCLUDING VAMP UP 4%) * HY ORDINARY DIVIDEND OF 321 CPS SPECIAL DIVIDEND OF 306 CPS TOTAL INTERIM DIVIDEND OF 627 CPS * DECLARED A SPECIAL DIVIDEND OF 306 CENTS PER SHARE AS A RESULT OF ONCE-OFF PROCEEDS RECEIVED FROM BRIMSTONE SALE * HY STRONG VOLUME PERFORMANCES RECORDED IN BEVERAGES, HOME CARE, BABY CARE, AND GROCERIES, OFFSET BY A 1,2% DECLINE IN GRAINS VOLUMES * SELLING PRICE INFLATION ACROSS PORTFOLIO IS EXPECTED TO REMAIN LOW AGAINST A BACKDROP OF CONSTRAINED CONSUMER SPENDING * ONGOING FOREX LIQUIDITY CHALLENGES IN ZIMBABWE HAVE INTENSIFIED SIGNIFICANTLY OVER LAST SIX MONTHS * WILL REVIEW PROCESSES, STRUCTURES, OVERHEAD COSTS TO IDENTIFY OPPORTUNITIES TO IMPROVE OPERATIONAL EFFICIENCIES, REDUCE COST BASE.

Tiger Brands reports lower sales in wake of the listeriosis crisis

Tiger Brands, which was named as the culprit in the 2018 listeriosis outbreak, says sales in the six months to end-March edged lower because of a slump in processed-meat sales and weak revenues from outside SA.  The food producer's shares have lost 42% of their value since it was blamed for the deadly listeriosis outbreak in March 2018. The group now faces a class-action lawsuit, which it plans to defend. Tiger Brands said revenue from continuing operations fell 2% to R15.4bn in the half-year to end-March.

EMERGING MARKETS-Emerging market stocks tick up, US-China fears cap sentiment

* MSCI's EM stocks index edges up 0.1% * U.S. considering sanctions on Chinese firm Hikvision - report * Shanghai Composite and CSI 300 index each fall half a percent * Turkish lira 0.5% softer, stocks 0.2% lower By Aaron Saldanha May 22 (Reuters) - Emerging market stocks marked time on Wednesday, as did developing world currencies against the dollar, with risk appetite capped by fears of an escalation in the U.S.-China trade dispute. A report on Tuesday said the United States is considering Huawei-like sanctions on video surveillance firm Hikvision 002415.SZ , sending the firm's Shenzhen-listed shares 002415.SZ down 5.5% and deepening worries that trade friction between the world's top two economies could be further inflamed. Yuan Zhuang, chief analyst at Nordea Markets, wrote in a note that the prospect of a U.S.-China trade deal was weakened by the mistrust between the two nations, although a "cosmetic agreement is in the interests of both sides."MSCI's developing world stocks index .MSCIEF consolidated gains from Tuesday's session, which lifted it off a more than four-month trough hit at the start of the week. The Shanghai Composite .SSEC slid 0.5%, as did Chinese blue-chips .CSI300 .Turkey's lira TRY= slid 0.5%, while its benchmark stocks index .XU100 dipped 0.2%, as losses among industrials outweighed gains in the communications services sector. Turkish Defence Minister Hulusi Akar said late on Tuesday that while he sees an improvement in talks with the United States over the purchase of Russian S-400 defence systems and U.S.

GLOBAL MARKETS-Investors run for safety amid threat of broader U.S.-China spat

* Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh * For Reuters Live Markets blog on European and UK stock markets, please click on: * Sterling hits lowest since January amid Brexit chaos * Global stocks under pressure, while bonds gain By Josephine Mason and Shinichi Saoshiro LONDON/TOKYO, May 22 (Reuters) - Global stocks were slightly lower on Wednesday as investors sought safety in bonds, the Japanese yen and Swiss franc in muted trade amid renewed worries over the U.S.-China spat after reports Washington has another Chinese tech firm in its sights. Relief over Washington's temporary relaxation of curbs against China's Huawei Technologies evaporated after reports that the White House is considering further sanctions on Chinese video surveillance firm Hikvision. Fears of another blacklisting reinforced worries that U.S.

OE Continuous Improvement Business Analyst

My client is a leading logistics company based close to Paarl and they are looking for a CI Business Analyst to join their Operational Excellence team as a Business Analyst. This position is open to equity candidates only. SA citizens onlyQualifications needed: Industrial Engineering degree or similar 3 - 5 years operational experience in Logistics/SCM Knowledge of Lean Six Sigma, SCOR, Transport management, SOP, Inventory Management, BPR Key responsibilities: Drive the culture of operational excellence; Facilitate CI workshops Be accountable for project identification, tracking and monitoring project progress Identity and manage resources required i.e.

JSE opens lower as global markets await next step in trade war

The dispute between China and the US has dampened sentiment, as traders anxiously await the next development The JSE opened slightly lower on Wednesday, with indices mixed, as global markets wait for a fresh catalyst in the US-China trade conflict. The dispute between China and the US has dampened sentiment, as traders anxiously await the next development. "Traders are waiting for the next chapter in the unfolding trade drama. Sentiment remains fragile as investors digest the changing face of the trade dispute from broad sweeping tariffs to direct action against single Chinese companies," said London Capital Group analyst Jasper Lawler.

Tiger Brands delivers mixed interim results

JSE-listed Tiger Brands has delivered a mixed set of results for the six months ended March 31. During the period, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business but low price inflation, which impacted on margins, the company reported on Wednesday. Group revenue of R15.4-billion from continuing operations was down 2% year-on-year.

EOH investigation report expected by month end

JOHANNESBURG Troubled EOH Holdings which is internally investigating corruption involving government contracts yesterday issued another cautionary statement to its shareholders that the IT firm expected to receive report findings by the end of this month. In a SENS announcement EOH said the probe into public sector contracts being undertaken by ENSafrica was on track to be concluded and delivered to the EOH board of directors who would subsequently take the necessary time to assess the detail thereof and where necessary engage with relevant stakeholders by the end of June. The corruption allegations have cost the firm its relationship with software giant Microsoft which ended its partnership after an annoymous complaint to the US Securities and Exchange Commission about a R120 million software deal between EOH Mthombo and the Department of Defence. EOH has contracted ENSafrica to look into its bids for state projects over the past five years including that deal. In January the stock was dealt another blow when Eskom said its former chief procurement officer had been involved in acts of misconduct involving EOH. EOH was yesterday trading 1.51 percent lower at R20.94 per share in intraday trade and closed at R20.91. BUSINESS REPORT.

UPDATE 1-FTSE 100 gains on weaker pound, rights issue knocks M&S

* FTSE 100 up 0.3%, FTSE 250 up 0.1% * M&S slips after discounted offering * Exporters top boost to main index * Pets at Home jumps after upbeat outlook * IG gains on new growth plan, boosts peers (Adds company news items, graphic, analyst comment) May 22 (Reuters) - The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signalled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped on news of a discounted rights issue. The main index, whose companies get more than two-thirds of their profit from abroad, was up 0.3% at 0816 GMT, while the more domestically-focussed FTSE 250 was up 0.1%. The indexes outshone European and Asian counterparts, where confidence was hit by media reports the United States is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision.

JSE opens lower as global markets await next step in trade war

The dispute between China and the US has dampened sentiment, as traders anxiously await the next development The JSE opened slightly lower on Wednesday, with indices mixed, as global markets wait for a fresh catalyst in the US-China trade conflict. The dispute between China and the US has dampened sentiment, as traders anxiously await the next development. "Traders are waiting for the next chapter in the unfolding trade drama. Sentiment remains fragile as investors digest the changing face of the trade dispute from broad sweeping tariffs to direct action against single Chinese companies," said London Capital Group analyst Jasper Lawler.

Couple convicted for murder of ex-Naspers CFO Eric Wiese

Cape Town - Sanie Wiese, the widow of murdered former Naspers chief financial officer Frederik (Eric) Wiese, said the conviction of his killers was a confirmation to her that the South African legal system works. Wiese spoke to the media just moments after a Gugulethu couple was convicted by Judge Taswell Papier. Nomfundo Mtshawu and her boyfriend Vuyolwethu Mgemane were both found guilty of murder and Mgemane was convicted for an additional count of housebreaking with intent to rob, with aggravating circumstances.

SHOPRITE HOLDINGS LIMITED - Procedural update on the proposed transaction

SHP 201905220031A Procedural update on the proposed transaction SHOPRITE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration no. 1936/007721/06 ISIN: ZAE000012084 JSE share code: SHP NSX share code: SRH LuSE share code: SHOPRITE (‘Shoprite Holdings' or ‘the Company') PROCEDURAL UPDATE ON THE PROPOSED TRANSACTION Shoprite Holdings' ordinary shareholders (‘Shareholders') are referred to the detailed terms announcement, which incorporated a firm intention announcement, released on the stock exchange news service operated by the JSE Limited (‘JSE') on 18 April 2019 (‘Detailed Terms Announcement') relating to the Company's consideration of a potential acquisition and cancellation of all the Shoprite Holdings deferred shares (‘Proposed Transaction'). It is Shoprite Holdings' intention to post one circular to Shareholders relating to the Proposed Transaction which will incorporate both the requirements of the Listings Requirements of the JSE and the applicable Regulations issued under the Companies Act, No 71 of 2008, as amended (‘Regulations') (‘Circular'). As noted in the Detailed Terms Announcement, it is envisaged that a Circular incorporating a notice of General Meeting containing further information in relation to the Proposed Transaction will be posted to Shareholders on or about 27 May 2019, subject to the outcome of engagement with Shoprite Holdings' major other Shareholders. In order to post the Circular on or about 27 May 2019, being more than 20 business days after the Detailed Terms Announcement, the Takeover Regulation Panel, established in terms of section 196 of the Companies Act, is required to and has granted the Company an extension to post the Circular on or about 27 May 2019, but by no later than 14 June 2019, as requested by the Company. PG DU PREEZ Company Secretary On behalf of the board of directors of Shoprite Holdings Date issued: 22 May 2019 Financial Advisor and Transaction Sponsor to Shoprite Holdings: Investec Bank Limited Da

‘Open for business' Zimbabwe has little to show for $27 billion.

When Emmerson Mnangagwa took over the leadership of Zimbabwe from Robert Mugabe in November 2017, he promised to revive the moribund economy and adopted a mantra he's repeated regularly ever since - "Zimbabwe is open for business." Mnangagwa, always wearing a scarf in the colours of the Zimbabwean flag, quickly set about traversing the globe to woo investment needed to revive the heavily indebted economy. By March, he'd been on at least 30 foreign visits, including trips to the US, Russia, China, the Middle East and the World Economic Forum in Davos. Together with the enthusiastic support of state media, Mnangagwa and his officials have announced more than $27bn of planned investment ranging from new platinum mines to steel mills and hydropower dams.

Myrun @ Vergenoegd Löw Wine Estate - 30 June 2019

We are excited to bring you our myrun event at Vergenoegd Löw Wine Estate, every Sunday morning. Our timed running events are free and bring like-minded people together, regardless of level of fitness and open to everyone including kids and leashed pets! ***Please register on www.myrun.org.za and purchase your timing band before arriving for the event. Upon registration, please ensure that you select Vergenoegd Löw Wine Estate as your venue so that we know where you will be collecting your timing band.

World's biggest miner sees coal's era ending in shift to the battery age

The BHP Group, the world's biggest miner, sees the outlook for thermal coal as challenged and won't add production as it prioritises growth in commodities tied to the shift to renewable energy and electric transport. There's the prospect that the material will be ''phased out, potentially sooner than expected,'' chief financial officer Peter Beaven said in an investor presentation on Wednesday. The Melbourne-based producer has ''no appetite for growth in energy coal regardless of asset attractiveness,'' he said.

GLENCORE PLC - GLN -Transactions in own shares 21 May 2019

Wrap Text GLN -Transactions in own shares - 21 May 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 22 May 2019 Transactions in own shares - 21 May 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: 21 May 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 5,000,000 Lowest price paid per share (GBp): 272.4500 Highest price paid per share (GBp): 277.0500 Volume weighted average price paid per share (GBp): 274.5558 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 827,657,649 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 13,758,542,417. 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 Trading venue Volume w

Standard Bank forced Matjila to retract ‘irregular' letter in deal, PIC inquiry told

CEO Sim Tshabalala threatened to report former PIC CEO Dan Matjila to regulators over a R45m fee its subsidiary SA Home Loans was asked to pay Standard Bank executives forced former Public Investment Corporation (PIC) CEO Dan Matjila to retract a letter he had signed requesting mortgage finance company SA Home Loans pay a questionable fee to a director. This was according to the testimony of Standard Bank special counsel Ian Sinton, who appeared before the commission of inquiry into the state-owned asset manager on Wednesday to give his account of events surrounding the PIC's acquisition of shares in SA Home Loans, in which the bank is a 50% shareholder. The PIC agreed to purchase 50% of the shares in SA Home Loans in 2013 from US bank JPMorgan. This took the form of the PIC acquiring a 25% stake directly on behalf of its largest client, the Government Employees Pension Fund (GEPF). It also facilitated the acquisition of a further 25% interest on behalf of a BEE consortium, Bolatja Hlogo, led by businessman Kholofelo Maponya. Sinton testified that it was Standard Bank's preference for the new shareholder to have sufficient resources to support SA Home Loans during tough times. SA Home Loans required access to large pools of capital to carry on its business of home loan lending. To get Standard Bank to consent to the sale of JPMorgan's stake to the PIC and the Maponya consortium, PIC undertook to provide substantial financial assistance to SA Home Loans. Following the acquisition, the PIC kept its word, and put together a funding arrangement that saw it making a R9bn facility available to the company using GEPF money.

'Ethnic fights cost lives,' says prosecutor in black business mogul's k-word trial

Businessman Peter-Paul Ngwenya's use of a derogatory racial term was meant to insult and "dehumanise" his former best friend Fani Titi. This was the argument presented by the state on Wednesday during closing arguments from the prosecution and defence being heard in the Randburg Magistrate's Court. Ngwenya, who spent almost five years on Robben Island, is facing charges of contravening a protection order and of crimen injuria for allegedly calling Investec chair and long-term friend Titi the k-word in a text message.

BUSINESS MAVERICK: Out with the secure solution — banks phasing out safety deposit boxes

While movies like An Inside Man glamourise safe deposit boxes, the ongoing battle by FNB customers who suffered losses after the theft of their boxes in 2016, the costs involved in securing these boxes and the increasing digitisation of assets has caused SA's big banks to rethink their position: Safe deposit boxes are on their way out. --.

GLOBAL MARKETS-Asia stocks fragile as trade anxiety overshadows Huawei reprieve

* Asian stock markets: https://tmsnrt.rs/2zpUAr4 * Asia stocks wobble, MSCI Asia-Pacific index in and out of red * Oil dips on US stockpile rise, Saudi assurance on market balance By Shinichi Saoshiro TOKYO, May 22 (Reuters) - Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about trade frictions between the world's two largest economies. The Chinese markets, which have endured a volatile few months, started off on a cautious note. The Shanghai Composite Index .SSEC was last down 0.1%. Australian stocks .AXJO gave up 0.1% and South Korea's KOSPI .KS11 fell 0.2%. Japan's Nikkei .N225 edged up 0.3%.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS moved in and out of the red and last stood little changed. "Some in the markets will continue to cling on to hopes of the United States and China reaching an agreement at the upcoming G20 meeting," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management. "But the ongoing trade conflict looks to be a protracted one, and its potentially negative impact on various economies is becoming a running concern." Leaders from G20 nations are scheduled to gather for a summit in Japan at the end of June. The U.S.

GLOBAL MARKETS-Asia stocks wobble as trade fears overshadow Huawei reprieve

* Asian stock markets: tmsnrt.rs/2zpUAr4 * MSCI Asia-Pacific index down 0.15%, Nikkei climbs 0.05% * Wall St gains support stocks, but trade woes limit rise * Crude slips after data shows rise in U.S. stockpiles By Shinichi Saoshiro TOKYO, May 22 (Reuters) - Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about trade frictions between the world's two largest economies. MSCI's broadest index of Asia-Pacific shares outside Japan initially edged up following gains on Wall Street but was last down 0.15%.

TIGER BRANDS LIMITED - Investor Presentation

TBS 201905220006A Investor Presentation TIGER BRANDS LIMITED ‘Tiger Brands' or ‘the Company' (Incorporated in the Republic of South Africa) (Registration number 1944/017881/06) Share code: TBS ISIN: ZAE000071080 INVESTOR PRESENTATION Shareholders are advised that following the release of the interim results for the six months ended 31 March 2019, the investor presentation is available for download on the Tiger Brands website. http://www.tigerbrands.com/invest- 2/presentations/ The investor presentation will take place today at 10:00am (CAT) 22 May 2019. Conferencing details are set out below. Webcast Address: http://themediaframe.eu/links/tigerbrands190522.html LIVE CONFERENCING DETAILS Dial-In Number(s): Country Access Number Johannesburg 011 535 3600 Other Countries +27 11 535 3600 UK 0 333 300 1418 PLAYBACK ACCESS NUMBERS - Replay Access Code - 24224 Dial-In Number(s): Country Access Number South Africa 010 500 4108 UK 0 203 608 8021 Australia 073 911 1378 USA 1 412 317 0088 International Toll +27 10 500 4108 Bryanston Date: 22 May 2019 Sponsor J.P.

Here's what you need to know before starting a business

Proper research and planning are essential when starting a business This is the advice of Marcia Ramatswana of the Small Enterprise Development Agency (Seda). "Before starting a business, you must have an idea and test the viability of that idea," said Ramatswana. The Seda business advisor also emphasised the need to check if there is a market for the product or service that you will be offering.

South Africans are spending less on their weekly shopping trip

South African shoppers are spending less, but are still stretching their wallets, according to Tiger Brand's interim report for the six months ending March 2019. Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing operations fell 2% to R15.4 billion in the interim period. Group operating income declined 24% to R1.5 billion, while headline earnings per share (HEPS) from continuing operations was down 12% to 762 cents, from 868 cents.

22 May 2019.

Mpumi Madisa, Bidvest's CEO-designate talks about her career path, life challenges and expectations when she takes over as head of the conglomerate. Political and economic analysts discuss what they expect from president Ramaphosa's new administration. Jamie's Italian restaurants are going bust in the UK.

'Ethnic fights cost lives,' says prosecutor in black business ...

"The use of the word was clearly intended to insult and dehumanise Mr Titi and was clearly experienced by Titi to be extremely injurious," Baba argued. He said it was "unimaginable" that Ngwenya thought it was morally acceptable for people of the same race to call each other k*****. "The accused wanted to convince the court that the word can be used among black people and that it only amounts to crimen injuria if used by racist white people." When he took the stand earlier in the trial, Ngwenya denied being aggressive or swearing at staff when he allegedly stormed into an office demanding to be paid.

UPDATE 1-AB InBev expects total investment of up to $400 mln in Nigerian brewery

(Adds more details) JOHANNESBURG, May 22 (Reuters) - Anheuser-Busch InBev (AB InBev), the world's largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday. The $250 million brewery has already started operation and capacity will be expanded in phases, Brito told reporters at a media briefing in Johannesburg, without giving a timeline for the next phase. "Nigeria (is) becoming a more and more important market as we grow in that market," he said.

Business News - 22 May 2019

The new National Assembly elects Ramaphosa as president, Inflation falls in April and Sasol takes a knock as Lake Charles' costs grow..

Win! With KOO and Chef Dorah Sitole

Food enthusiasts will love the new Mixed Vegetables in Curry Sauce flavours: Mixed Vegetables in Durban Curry Sauce and Mixed Vegetables in Cape Malay Curry Sauce. These authentic South African flavours will definitely tempt the taste buds! These new exciting flavours The can be enjoyed on there own or included in recipes to add extra flavour and aroma. Good food brings people together which is why Koo is giving three lucky readers a chance to discover their inner chefs.

Colombia coal production up 6.5% in first quarter

BOGOTA, May 22 (Reuters) - Colombia, the world's fifth-largest exporter of coal, produced 20.9 million tonnes of the fuel in the first quarter, up 6.5% from the same period in 2018, government figures showed on Wednesday. Coal production in the South American country was 19.6 million tonnes between January and March last year. Colombia produced 84.3 million tonnes over the course of 2018, 7.4% less than the previous year as heavy rains disrupted operations at major mines.

Tiger Brands HY profits fall in the wake of listeriosis crisis

But market share up in both volume and value, apart from value-added meat products. NOMPU SIZIBA: Tiger Brands came out today [Wednesday] with its half-year results for the six months ended March 2019. The company reported earnings, before one-time items, dropping 12% to R7.59/share.

22 May 2019.

:15 PM Mpumi Madisa, Bidvest's CEO-designate talks about her career path, life challenges and expectations when she takes over as head of the conglomerate. Political and economic analysts discuss what they expect from president Ramaphosa's new administration. Jamie's Italian restaurants are going bust in the UK.

Minerals Council appoints new office bearers, including female CEO

Meanwhile, the mining body is hoping for continuity in ministerial leadership. The Minerals Council re-elected Mxolisi Mgojo as president when it held its 129th annual general meeting on Wednesday, while Steve Phiri who's the CEO of Royal Bafokeng Platinum, Andile Sangqu, executive head of Anglo American South Africa and Neal Froneman, the CEO of Sibanye-Stillwater have all been re-elected as vice presidents. Zanele Matlala, who's the CEO of Merafe Resources was also elected as vice president.

Standing the test of time

When Edgard Frankignoul, invented the Franki pile in 1909 he had no idea that 110 years later it would still be regarded as one of the most cost-effective and reliable solutions for a host of different geological conditions. "It's quite amazing," says Franki Africa's Gavin Byrne, "that with only relatively small improvements over time, the Franki pile, after so many years, repeatedly remains the solution of choice in a wide variety of conditions. Given that we operate in an ever-changing and advancing technological environment makes the ubiquitous nature of the Franki pile even more remarkable." "Above all, the Franki pile is a unique system for generating excellent load capacity and we have developed a number of techniques to install it in a variety of soil conditions," adds Byrne. "With its wide range of pile sizes and its characteristic enlarged base, it's fair to say that the Franki pile has been one of the cornerstones of Franki Africa's success in southern Africa. The latest project to demonstrate the magic of the Franki pile is the piling work done for Sappi at its Saiccor mill in Umkomaas, KZN. The Project Sappi's project includes the installation of a new evaporator, recovery boiler and screening and washing plant, along with upgrades to the bleach plant and pulp machines, improved recovery circuits and additional magnesium digesters.

Sterling slide boosts FTSE 100, discounted rights issue knocks M&S

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 up 0.6%, FTSE 250 up 0.1% * M&S slips after discounted offering * Exporters top boost to main index * Pets at Home jumps after upbeat outlook May 22 (Reuters) - The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signalled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped after a discounted rights issue. The main index, whose companies get more than two-thirds of their profit from abroad, advanced 0.6% by 0727 GMT while the more domestically-focussed FTSE 250 was up 0.1%. Internationally-exposed companies British American Tobacco , Unilever and Diageo were among the biggest support to the blue-chip index.

Gordhan says mining firms must reverse job cuts

South Africa's mining companies must reverse recent decisions to cut jobs in the industry to help revive the economy and boost investor confidence, according to Public Enterprises Minister Pravin Gordhan. His comments come after Lonmin said it plans to cut 4 100 workers at platinum mines that are being closed down, while in February Sibanye Gold said restructuring of its unprofitable gold-mining operations in South Africa could lead to more than 6 000 job losses. "Companies must ensure there is a balance in what they do in respect of shareholder expectations and societal expectations," Gordhan said at a dinner hosted by South Africa's minerals council in Johannesburg on Tuesday.

EMERGING MARKETS-Emerging market stocks tick up, US-China fears cap sentiment

* MSCI's EM stocks index edges up 0.1% * U.S. considering sanctions on Chinese firm Hikvision - report * Shanghai Composite and CSI 300 index each fall half a percent * Turkish lira 0.5% softer, stocks 0.2% lower By Aaron Saldanha May 22 (Reuters) - Emerging market stocks marked time on Wednesday, as did developing world currencies against the dollar, with risk appetite capped by fears of an escalation in the U.S.-China trade dispute. A report on Tuesday said the United States is considering Huawei-like sanctions on video surveillance firm Hikvision , sending the firm's Shenzhen-listed shares down 5.5% and deepening worries that trade friction between the world's top two economies could be further inflamed.

BRIEF-Tiger Brands Says Total FY EPS Will Be More Than 20% Higher

May 22 (Reuters) - Tiger Brands Ltd TBSJ.J :* TRADING STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2019 * UNBUNDLING OF COMPANY'S INTEREST IN OCEANA GAVE RISE TO AN UNREALISED FAIR VALUE GAIN OF R1 630.4 MILLION THROUGH INCOME STATEMENT * TOTAL EPS FOR YEAR ENDING 30 SEPTEMBER, WILL BE MORE THAN 20% HIGHER THAN 1 457.7 CENTS PER SHARE REPORTED IN PREVIOUS YEAR * GAIN FROM UNBUNDLING OF STAKE IN OCEANA HAS NO IMPACT ON HEADLINE EARNINGS PER SHARE.

Glencore and First Cobalt team up to restart refinery

PERTH (miningweekly.com) - Diversified miner Glencore has thrown its support behind the restart of dual-listed First Cobalt's refinery in Ontario. The two companies have signed a memorandum of understanding (MoU) to supply cobalt feedstock and financing to recommission the First Cobalt refinery, with First Cobalt and Glencore to collaborate in the final flowsheet design with a view to accelerate the restart of the only primary cobalt refinery in North America. "The partnership announced today will help First Cobalt achieve its stated objective of providing ethically-sourced battery grade cobalt for the North American electric vehicle market," said First Cobalt president and CEO Trent Mell.

Tiger Brands reports lower sales in wake of the listeriosis crisis

Tiger Brands, which was named as the culprit in the 2018 listeriosis outbreak, says sales in the six months to end-March edged lower because of a slump in processed-meat sales and weak revenues from outside SA. The food producer's shares have lost 42% of their value since it was blamed for the deadly listeriosis outbreak in March 2018. The group now faces a class-action lawsuit, which it plans to defend.

Tiger Brands reports lower sales in wake of the listeriosis crisis

Revenue from the group's processed meats business plunged 79% to R213m Tiger Brands, which was named as the culprit in the 2018 listeriosis outbreak, says sales in the six months to end-March edged lower because of a slump in processed-meat sales and weak revenues from outside SA. The food producer's shares have lost 42% of their value since it was blamed for the deadly listeriosis outbreak in March 2018. The group now faces a class-action lawsuit, which it plans to defend. Tiger Brands said on Wednesday revenue from continuing operations fell 2% to R15.4bn in the half-year to end-March. Excluding value-added meat products, revenue rose 4%. The value-added meat products business, which had to shut factories following the listeriosis outbreak, "was impacted by challenges in managing the factory's reopening and product launch logistics, which affected service levels". Revenue from that business plunged 79% to R213m. Tiger Brands said total net profit was 1% lower at R1.4bn, while headline earnings fell 11% to R1.3bn. "The trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins," the group said. Domestic revenues, excluding processed meats, were 6% higher, driven by 2% volume growth and 4% inflation. But revenue from exports and international operations fell 11% to R1.7bn because of lower export volumes and price deflation in international markets. Tiger Brands said it wrote off goodwill of R100m in beverages and seasoning business Davita. "This arose as a result of the consistent risks associated with key export markets, with lower sales projected for Nigeria and Mozambique, as well as lower sales forecasted for the powdered seasoning brand, Benny." The group said it plans to review its processes, structures and overhead costs to identify opportunities to cut costs. "Selling-price inflation across the portfolio is expected to remain low against a backdrop of c

Couple found GUITLY of killing octogenarian in violent house robbery

The widow of former financial director of Naspers, Eric Wiese, says the conviction of two people who killed him in a brutal house robbery in Cape Town in 2017 is a "very, very big step forward"… Sannie Wiese, who was married to the deceased for 52 years, together with loved ones, expressed relief in the Western Cape High Court on Tuesday after Judge Taswell Papier convicted Nomfundo Mtshawu and Vuyolwethu Mgemane. "Our legal system still works and I am satisfied," she said after court proceedings, adding that she was "okay" and had a wonderful support system. Wiese was the former financial chief of Naspers and retired in 1998.

BUSINESS MAVERICK: Another day, another wildcat strike on South Africa's platinum belt

Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest. What is unusual is the union behind it: the General Industrial Workers Union of South Africa.

Sterling slide boosts FTSE 100, discounted rights issue knocks M&S

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 up 0.6%, FTSE 250 up 0.1% * M&S slips after discounted offering * Exporters top boost to main index * Pets at Home jumps after upbeat outlook May 22 (Reuters) - The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signalled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped after a discounted rights issue. The main index .FTSE , whose companies get more than two-thirds of their profit from abroad, advanced 0.6% by 0727 GMT while the more domestically-focussed FTSE 250 .FTMC was up 0.1%. Internationally-exposed companies British American Tobacco (JO:SNHJ) BATS.L , Unilever ULVR.L and Diageo DGE.L were among the biggest support to the blue-chip index. Blue-chip housebuilders including Persimmon (LON:PSN) and Barratt, which gained in the last session when May unveiled her new Brexit deal, gave up more than 2%. M&S MKS.L slid 5% to a more than four-month low after it priced a rights issue at a massive discount to Tuesday's close. It also reported a third straight decline in annual profit, emphasising the pain of its latest attempt at a turnaround. at Home PETSP.L jumped 8.4% on the midcap index after it forecast higher earnings for 2.

Two injured in Ballito rollover

KwaZulu-Natal: At 06H38 Wednesday morning Netcare 911 responded to reports of a collision on the M4 North Bound just passed the Tongaat River mouth. Reports from the scene indicate that two adult females sustained moderate injuries when the driver of the light motor vehicle lost control resulting in a rollover. The patients were assessed on scene had found to have sustained moderate injuries and required Advanced Life Support intervention to stabilise them.

Gupta's Richards Bay coal terminal mines for sale

June 18 has been confirmed as sale date for two mines and the Richards Bay coal terminal. Business entities and wealthy individuals have shown interest in purchasing the Mpumalanga and KwaZulu-Natal-based Gupta-owned mining assets. This includes Optimum and Koornfontein mines and the Richards Bay coal terminal, which went through business rescue last February, according to Liquid Services associate director John Taylor.

Tiger Brands revenue falls short after challenges at meat unit

Tiger Brands had to suspend operations at its cold meat facilities last year in response to a deadly listeria outbreak, which resulted in recall and related costs. They have since reopened. | JOHANNESBURG - South Africa's Tiger Brands on Wednesday reported first-half revenue below analysts' expectations on the back of lower sales in international markets and challenges relating to the processed meats division. The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said group revenue for the six months ended 31 March fell by 2% to R15.4 billion, compared with analysts' expectations of R15.7 billion in a Refinitiv poll. Excluding the Value Added Meat Products (VAMP) division, revenue was up 4%. Tiger Brands had to suspend operations at its cold meat facilities last year in response to a deadly listeria outbreak, which resulted in recall and related costs.

South Africas political and investment view

JOHANNESBURG   South Africa has just completed its 6th democratic national elections and saw a majority win of 57.5% by the ruling party the African National Congress (ANC). The result is considered a respectable win for a party that has been accused of rampant corruption weak economic growth poor stateowned entity management and a policy stall. Much of the malaise  has taken place under the leadership of the previous president Jacob Zuma.

GLOBAL MARKETS-Investors run for safety amid threat of broader U.S.-China spat

* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh * For Reuters Live Markets blog on European and UK stock markets, please click on: LIVE/ * Sterling hits lowest since January amid Brexit chaos * Global stocks under pressure, while bonds gain By Josephine Mason and Shinichi Saoshiro LONDON/TOKYO, May 22 (Reuters) - Global stocks were slightly lower on Wednesday as investors sought safety in bonds, the Japanese yen and Swiss franc in muted trade amid renewed worries over the U.S.-China spat after reports Washington has another Chinese tech firm in its sights. Relief over Washington's temporary relaxation of curbs against China's Huawei Technologies evaporated after reports that the White House is considering further sanctions on Chinese video surveillance firm Hikvision. of another blacklisting reinforced worries that U.S. President Donald Trump is looking beyond sealing a trade deal with China to a potentially bigger battle aimed at curbing Beijing's technology ambitions. "I think the debate is just starting about what the implications of all this could be if it escalates.

Smile Telecoms Appoints New Group Chief Executive Officer

Smile Telecoms , a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania and the Democratic Republic of the Congo, has announced the appointments of Mr. Ahmad Farroukh as Group Chief Executive Officer and Ms. Irene Charnley as Deputy Chairman, respectively, effective 1 June 2019.

Couple convicted for murder of exNaspers CFO Eric Wiese

Cape Town Sanie Wiese the widow of murdered former Naspers chief financial officer Frederik (Eric) Wiese said the conviction of his killers was a confirmation to her that the South African legal system works.Wiese spoke to the media just moments after a Gugulethu couple was convicted by Judge Taswell Papier.Nomfundo Mtshawu and her boyfriend Vuyolwethu Mgemane were both found guilty of murder and Mgemane was convicted for an additional count of housebreaking with intent to rob with aggravating circumstances. Mtshawu was acquitted on the housebreaking charge.The deceases half naked body was found lying facedown on the floor in his bedroom on August 4 2017.He was discovered by his wife who had returned from the shops to buy things for their sons 50th birthday celebration.Today was a confirmation that our legal system still works and I am satisfied with the judgment.Judgment to me is the peak of the hearings so we will wait patiently for August 1 to hear what their punishment will be but I am satisfied with the court case thus far she said.The widow broke into tears when she spoke about the support she has been receiving from friends and family. Their three children live abroad her sons live in America while her daughter lives in New Zealand.In delivering his judgment Judge Papier said State witnesses the widow security personnel and the investigating officer in the case made a good impression on the court.According to the investigating officer Mtshawu on the day of her arrest said she only held the deceased but did not kill him.Mtshawos case was that she was not present when Mgemane strangled Wiese.

UPDATE 1-FTSE 100 gains on weaker pound, rights issue knocks M&S

* FTSE 100 up 0.3%, FTSE 250 up 0.1% * M&S slips after discounted offering * Exporters top boost to main index * Pets at Home jumps after upbeat outlook * IG gains on new growth plan, boosts peers (Adds company news items, graphic, analyst comment) May 22 (Reuters) - The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signalled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped on news of a discounted rights issue. The main index .FTSE , whose companies get more than two-thirds of their profit from abroad, was up 0.3% at 0816 GMT, while the more domestically-focussed FTSE 250 .FTMC was up 0.1%. The indexes outshone European and Asian counterparts, where confidence was hit by media reports the United States is considering Huawei-like sanctions on Chinese video surveillance firm Hikvision. A slide in sterling led internationally-exposed companies British American Tobacco (JO:SNHJ) BATS.L , Unilever ULVR.L and Diageo DGE.L to be among the biggest risers on the FTSE-100. In contrast, blue-chip housebuilders including Persimmon PSN.L and Barratt BDEV.L lost more than 2% after gaining in the previous session when May unveiled her new Brexit deal. M&S MKS.L slid 5% to a more than four-month low after it priced a rights issue at a big discount to Tuesday's close. It also reported a third straight decline in annual profit, emphasising the pain of its latest turnaround plan. SSE.L slipped 2% after reporting a slump in annual earnings and warning of an uncertain outlook due to the opposition Labour party's plans to renationalise energy networks.

Sterling slide boosts FTSE 100, discounted rights issue knocks M&S

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 up 0.6%, FTSE 250 up 0.1% * M&S slips after discounted offering * Exporters top boost to main index * Pets at Home jumps after upbeat outlook May 22 (Reuters) - The exporter-heavy FTSE 100 index gained on the back of a weaker pound on Wednesday as lawmakers signalled they would not back Prime Minister Theresa May's latest Brexit compromise, while Marks & Spencer slumped after a discounted rights issue. The main index, whose companies get more than two-thirds of their profit from abroad, advanced 0.6% by 0727 GMT while the more domestically-focussed FTSE 250 was up 0.1%. Internationally-exposed companies British American Tobacco , Unilever and Diageo were among the biggest support to the blue-chip index. Blue-chip housebuilders including Persimmon and Barratt, which gained in the last session when May unveiled her new Brexit deal, gave up more than 2%. M&S slid 5% to a more than four-month low after it priced a rights issue at a massive discount to Tuesday's close. It also reported a third straight decline in annual profit, emphasising the pain of its latest attempt at a turnaround. Pets at Home jumped 8.4% on the midcap index after it forecast higher earnings for 2020. (Reporting by Muvija M and Shashwat Awasthi in Bengaluru Editing by Andrew Heavens) 2019-05-22 09.

Couple found GUITLY of killing octogenarian in violent house robbery

The widow of former financial director of Naspers, Eric Wiese, says the conviction of two people who killed him in a brutal house robbery in Cape Town in 2017 is a "very, very big step forward"… Sannie Wiese, who was married to the deceased for 52 years, together with loved ones, expressed relief in the Western Cape High Court on Tuesday after Judge Taswell Papier convicted Nomfundo Mtshawu and Vuyolwethu Mgemane. "Our legal system still works and I am satisfied," she said after court proceedings, adding that she was "okay" and had a wonderful support system. Wiese was the former financial chief of Naspers and retired in 1998. The accused, who are a couple, attacked Wiese, 80, in his Higgovale home on August 4, 2017, and tied him up so they could ransack the house. The stolen items, which had an estimated value of R25 000, included sentimental items such as a cutlery set and pocket watch given to Sannie by Wiese's late father. ‘Fervour for life' Sannie, who had been out shopping for her son's birthday celebration, returned to find the house in disarray and drops of blood on the floor. She became scared and rang a security company to come to the house - they found his body next to a bed upstairs. Wiese death was attributed to "manual strangulation". Mgemane previously admitted to strangling Wiese with a tie "because he was resisting".

WATCH: Rand trades in narrow range ahead of repo rate decision

JOHANNESBURG - The South African rand traded in a very narrow range ahead of this week's policy decision according to NKC Research.  The domestic economic calendar is focused on the Sarb's MPC meeting (21 - 23 May) this week, at which time we expect the repo rate to be left unchanged at 6.75 percent. Meanwhile, on US soil, traders await policymakers' statements, along with the all-important FOMC minutes, for directional guidance on monetary policy. At the close of local trade, the rand quoted 0.2 percent stronger at R14.38/$, after trading in range of R14.36/$ - R14.49/$.

BHP sees coal's era ending in shift to the battery age

Miner won't add production as it prioritises growth in commodities tied to the shift to renewable energy. BHP Group, the world's biggest miner, sees the outlook for thermal coal as challenged and won't add production as it prioritises growth in commodities tied to the shift to renewable energy and electric transport. There's the prospect that the material will be "phased out, potentially sooner than expected," chief financial officer Peter Beaven said in an investor presentation on Wednesday. The Melbourne-based producer has "no appetite for growth in energy coal regardless of asset attractiveness," he said. BHP follows its biggest competitors Rio Tinto Group and Glencore in questioning the future role of coal used for power generation, as investors press for more action to tackle climate change and tighten restrictions on holding companies that produce the fuel.

South African Markets - Factors to watch on May 22

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 inflation data for April at 0800 GMT. COMPANIES Tiger Brands TBSJ.J will publish earnings for the first half of its financial year, while Lewis Group LEWJ.J will release its full-year results. SOUTH AFRICAN MARKETSSouth Africa's rand steadied in late afternoon trade on Tuesday, recovering from losses earlier in the session as developing world currencies weakened on fears the protracted China-U.S trade conflict may have already begun to impact Asian economies. .J ZAR/ GLOBAL MARKETS Asian stocks struggled for traction on Wednesday, as relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about an intensifying trade war between the world's two largest economies. MKTS/GLOB WALL STREET Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. .N GOLD XAU= Gold edged lower on Wednesday to hover near a two-week low, as a stronger dollar and signs of easing Sino-U.S. friction dented demand for bullion ahead of the minutes from U.S. Federal Reserve's latest meeting.GOL/ EMERGING MARKETS For the top emerging markets news, double click on - - - Some of the main stories out in the South African press: BUSINESS DAY - Tito Mboweni bemoans 'madness' of Eskom debt- Another technical recession 'probable'BUSINESS REPORT- OECD slashes SA's growth forecast to 1.2%.

Gordhan says mining firms must reverse job cuts

To revive economy and boost investor confidence. South Africa's mining companies must reverse recent decisions to cut jobs in the industry to help revive the economy and boost investor confidence, according to public enterprises Minister Pravin Gordhan. His comments come a day after Lonmin said it plans to cut 4 100 workers at platinum mines that are being closed down, while in February Sibanye Gold said restructuring of its unprofitable gold-mining operations in South Africa could lead to more than 6 000 job losses. Read: "Companies must ensure there is a balance in what they do in respect of shareholder expectations and societal expectations," Gordhan said at a dinner hosted by South Africa's minerals council in Johannesburg on Tuesday. While mining has long been a linchpin of the South African economy, uncertainty over government policy, strikes and rising costs have all contributed to an investment downturn that's hurt the country's overall growth. Companies must do a deal with the government on a new mining charter that determines industry ownership rules, Gordhan said. © 2019 Bloomberg L.P.

Top Miner BHP Sees an End to the Era of Coal

(Bloomberg) -- BHP Group, the world's biggest miner, sees the outlook for thermal coal as challenged and won't add production as it prioritizes growth in commodities tied to the shift to renewable energy and electric transport. There's the prospect that the material will be "phased out, potentially sooner than expected," Chief Financial Officer Peter Beaven said in an investor presentation on Wednesday. The Melbourne-based producer has "no appetite for growth in energy coal regardless of asset attractiveness," he said. BHP follows its biggest competitors Rio Tinto (LON:RIO) Group and Glencore (LON:GLEN) Plc in questioning the future role of coal used for power generation, as investors press for more action to tackle climate change and tighten restrictions on holding companies that produce the fuel. Rio sold its final coal mines last year, while Glencore said in March it would seek to limit production. At BHP's thermal coal mine in Australia and the Cerrejon operation in Colombia, where it has a third-share, the producer will focus on "maximizing value to shareholders, whether we are long-term owners or not," Beaven told investors in a separate speech.

ANALYSIS: Vaping carves a niche, but can it go mainstream in South Africa?

Globally the number of cigarette packs sold has dropped over the last decade, intensifying concerns in the industry that smokers are shifting away from Big Tobacco's core product at an accelerating pace. South Africa's volume sales for cigarettes in the formal sector has declined from 32 billion sticks in 2003 to 23 billion sticks in 2017, according to a report by Canback Consulting. Other combustible tobacco volume sales also have been declining, at an annual rate of 1.4%.

More than 600 workers fired from Amplats for an unprotected strike

More than 600 workers who were fired from Anglo American Platinum (Amplats) for participating in an unprotected strike have until Tuesday to appeal their dismissals. Amplats says it was left with no choice but to sack them after they violated a court interdict and refused to return to work. General Industrial Workers Union of South Africa (GIWUSA) Mametlo Sibiya says, "The mine was taken over by Anglo Platinum sometime late last year and they became the majority of our shareholders with the managing rights from Glencore.

UK chip designer ARM to suspend business with Huawei - BBC

LONDON, May 22 (Reuters) - Major British-based chip designer ARM is suspending business with China's Huawei to comply with U.S. regulations, the BBC reported on Wednesday, citing internal company documents. ARM instructed employees to halt "all active contracts, support entitlements, and any pending engagements" with Huawei and its subsidiaries, the BBC said. ARM, owned by Japanese investor Softbank, said in an internal company memo that its designs contained technology of U.S. origin. (Reporting by David Milliken; editing by Michael Holden) 2019-05-22 11.

Tiger Brands revenue misses estimates

On the back of lower sales in international markets and continued pressure on consumer spending. Tiger Brands on Wednesday reported first-half revenue below analysts' expectations on the back of lower sales in international markets and continued pressure on consumer spending. The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said group revenue for the six-months ended March 31 fell by 2% to R15.4 billion, compared with analysts' expectations of R15.7 billion in a Refinitiv poll. "During the period under review, the trading environment remained difficult, with continued pressure on consumer spending, resulting in sales volume increases in the domestic business while low price inflation impacted margins," the food producer said in a statement. South African retailers and food producers are struggling to lift sales growth to double digits as consumers are dealing with a value-added tax hike, record fuel increases and rising utility costs, which have all intensified pressure on consumers' disposable income. Domestic revenue excluding the Value Added Meat Products (VAMP) business was 6% higher, driven by volume growth and inflation at 4%.

Lonmin plans to cut 4 100 workers as it closes platinum mines

21ST MAY 2019 BY: BLOOMBERG SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ JOHANNESBURG - Lonmin plans to cut 4 100 workers at mines that have run out of profitable ore and are being closed. The platinum producer has started a process that's required under South African labour law to carry out the workforce reductions, said Wendy Tlou, a spokesperson for the company. The layoffs will come from six old mines that have run out of commercially viable ore. ADVERTISEMENT The cuts are part of Lonmin's plan to trim its staff and lower costs at its deep-level mines. In 2017, the company said it would cut 12 600 workers over a three-year period. Shareholders are voting this month on an acquisition by rival Sibanye Gold after the company struggled through years of losses and was forced to seek debt-covenant waivers from lenders.

A solution to South Africa's sanitary towel problem

We chat to Sherie de Wet, the founder of Palesa Pads , about her reusable sanitary towel initiative. Various reports have shown that South African girls are still missing school due to not having sanitary towels available. With many households struggling to make ends meet, buying pads is not always be a priority.

MMI makes good progress in third quarter

21 May 2019 Hillie Meyer, CEO at MMI Holdings Highlights: • Diluted normalised headline earnings increased by 19% to R2.4billion • Diluted normalised headline earnings per share increased by 26% • Group's present value of new business premiums (PVNBP) increased by 11% to R40.6bn • Reset and Grow strategy on track to meet financial targets of between R3.6 billion and R4 billion by 2021 • Momentum Corporate delivered outstanding growth in PVNBP of 62% MMI Holdings (MMI), today issued an operating update for the third quarter of the financial year, indicating that diluted normalised headline earnings increased 19% to R2.4 billion relative to the prior period. Diluted normalised earnings per share increased 26% - reflecting the positive impact of the share buy-back programme and the group's Reset and Grow strategy. The PVNBP for the nine months was R40.6bn for the group, an increase of 11% from the prior period. The main contributors to the earnings growth were Momentum Corporate, Momentum Life and Momentum Investments. Momentum Corporate delivered outstanding growth of 62% to R12bn, with both single and recurring premium businesses increasing.

MARKET WRAP: JSE led lower by banks and general retailers

Locally, the market is anticipating the announcement of a new Cabinet and the consumer price inflation for April on Wednesday The JSE closed lower on Tuesday, despite global sentiment improving a little after the US temporarily lifted its ban on Chinese telecoms giant Huawei. Banks and general retailers fared worst on the day, despite a firmer rand. Both sectors are interest rate-sensitive, and Wednesday sees the release of US Federal Reserve minutes, while the the SA Reserve Bank will announce its latest stance on monetary policy on Thursday. International sentiment improved on Tuesday following news that the US had issued a 90-day licence for US companies to continue doing business with Huawei. This follows the Trump administration's decision last week to blacklist Huawei from the US market.

South African Markets - Factors to watch on May 22

LEWIS:   3,250     0 (0.00%)   22/05/2019 00:00 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 inflation data for April at 0800 GMT. COMPANIES Tiger Brands will publish earnings for the first half of its financial year, while Lewis Group will release its full-year results. SOUTH AFRICAN MARKETS South Africa's rand steadied in late afternoon trade on Tuesday, recovering from losses earlier in the session as developing world currencies weakened on fears the protracted China-U.S trade conflict may have already begun to impact Asian economies. GLOBAL MARKETS Asian stocks struggled for traction on Wednesday, as relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about an intensifying trade war between the world's two largest economies. WALL STREET Shares of technology companies helped lift Wall Street on Tuesday after the United States temporarily eased curbs on China's Huawei Technologies Co Ltd, alleviating investor concerns about pressure on future corporate results in the sector. GOLD Gold edged lower on Wednesday to hover near a two-week low, as a stronger dollar and signs of easing Sino-U.S. friction dented demand for bullion ahead of the minutes from U.S. Federal Reserve's latest meeting. EMERGING MARKETS For the top emerging markets news, double click on - - - - Some of the main stories out in the South African press: BUSINESS DAY - Tito Mboweni bemoans 'madness' of Eskom debt - Another technical recession 'probable' BUSINESS REPORT - OECD slashes SA's growth forecast to 1.2% 2019-05-22 07.

WATCH: Rand trades in narrow range ahead of repo rate decision

{ @context: http:schema.org @type: VideoObject name: IOL video description: IOL video thumbnailUrl: https:inmbaobabprodeuwest1.s3.amazonaws.compublicinmiolmediavideo<wbr/>2019052223721489036_3_3.31_May22219.0000003.jpg uploadDate: duration: 00:00:42.095 publisher: { @type: Organization name: IOL logo: { @type: ImageObject url: } } contentUrl: https:inmbaobabprodeuwest1.s3.amazonaws.compublicinmiolmediavideo<wbr/>2019052223721489036_3_3.31_May22219.mp4 embedUrl: https:video.iol.co.zavideo1buildEnvelopec291<wbr/>cmNlPUlPTCZ2aWRlb1VybD1odHRwcz<wbr/>ovL2lubS1iYW9iYWItcHJvZC1ldS13<wbr/>ZXN0LTEuczMuYW1hem9uYXdzLmNvbS<wbr/>9wdWJsaWMvaW5tL2lvbC9tZWRpYS92<wbr/>aWRlby8yMDE5LzA1LzIyLzIzNzIxND<wbr/>g5LzAvMzZfM18zLjMxX01heTIyMjE5<wbr/>Lm1wNCZzdGFuZEFsb25lPXRydWU}(function(isogram){iGoogleAnalyticsObjectr;irirfunction(){(ir.qir.q).push(arguments)}ir.l1*new Date();as.createElement(o)ms.getElementsByTagName(o)0;a.async1;a.srcg;m.parentNode.insertBefore(am)})(windowdocumentscripthttps:www.googleanalytics.comanalytics.jsga);ga(create UA177108381 auto); To view this video please enable JavaScript and consider upgrading to a web browser that supports HTML5 video var player videojs(player1558508208834 { plugins: { brand: { image: cdn.mojoreporter.comvideojsimigino30.png title: Imigino Streaming Video destination: https:www.publisherstoolbox.comimigino destinationTarget: _blank } embed:{ embeddable: true location: https:video.iol.co.zavideo1buildEnvelopec291<wbr/>cmNlPUlPTCZ2aWRlb1VybD1odHRwcz<wbr/>ovL2lubS1iYW9iYWItcHJvZC1ldS13<wbr/>ZXN0LTEuczMuYW1hem9uYXdzLmNvbS<wbr/>9wdWJsaWMvaW5tL2lvbC9tZWRpYS92<wbr/>aWRlby8yMDE5LzA1LzIyLzIzNzIxND<wbr/>g5LzAvMzZfM18zLjMxX01heTIyMjE5<wbr/>Lm1wNCZzdGFuZEFsb25lPXRydWU } ga: { eventsToTrack: sta

Five things making headlines in South Africa today

Here's what caught our attention on Tuesday: 1. Rhodes Food Group results Rhodes Food Group is reporting a 6% increase in operating profit to R172.7 million, while group turnover increased by 9.3% to R2.7 billion for the six months ended March 31, 2019. The company, which is a producer of fresh, frozen and long-life convenience meal solutions, also reported a 13.4% increase in turnover in its long-life food category, adding that strong performances were notable in its fruit juice, dry foods, canned vegetables and meat categories.

APO AFRICA Smile Telecoms Appoints New Group Chief Executive Officer

Ahmad Farroukh, Smile Group Executive Director Operations, appointed as Group CEO; Irene Charnley, founder of Smile, appointed as Deputy Chairman. Smile Telecoms (www.Smilecoms.com), a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania and the Democratic Republic of the Congo, today announces the appointments of Mr. Ahmad Farroukh as Group Chief Executive Officer and Ms. Irene Charnley as Deputy Chairman, respectively, effective 1 June 2019. Ahmad Farroukh, who currently serves as Smile's Group Executive Director Operations, is a seasoned and experienced telecoms executive with a distinguished record of commercial and operational success.

GLOBAL MARKETS-Asia stocks wobble as trade fears overshadow...

* Asian stock markets: https://tmsnrt.rs/2zpUAr4 * MSCI Asia-Pacific index down 0.15%, Nikkei climbs 0.05% * Wall St gains support stocks, but trade woes limit rise * Crude slips after data shows rise in U.S. stockpiles By Shinichi Saoshiro TOKYO, May 22 (Reuters) - Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about trade frictions between the world's two largest economies.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS initially edged up following gains on Wall Street but was last down 0.15%. Australian stocks .AXJO slipped 0.25%, South Korea's KOSPI .KS11 fell 0.45% and Japan's Nikkei .N225 edged up 0.05%. "Some in the markets will continue to cling on to hopes of the United States and China reaching an agreement at the upcoming G20 meeting," said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management. "But the ongoing trade conflict looks to be a protracted one, and its potentially negative impact on various economies is becoming a running concern." The U.S.

Japan exports fall again but business sentiment offers hope

(Adds other data, detail, context on tax hike) * Global slowdown, trade war hit exports * April exports -2.4% yr/yr vs forecast -1.8% * March core orders 3.8% m/m vs forecast -0.7% * May manufacturers' morale posts 1st rise in 7 mths * Reuters Tankan closely correlates with BOJ tankan * By Stanley White and Tetsushi Kajimoto TOKYO, May 22 (Reuters) - Japanese exports fell for the fifth month in April in a sign of the growing economic strain exerted by the Sino-U.S. trade war, but a pickup in business sentiment and machinery orders show companies remain optimistic about the future. The exports contraction followed gross domestic product (GDP) data out Monday that showed Japan's growth unexpectedly accelerated in January-March, driven by net contributions from exports, despite declines in consumer and business spending. Worries about overseas demand and weak consumer spending could keep policymakers under pressure to forego a twice-delayed tax hike in October, although a rebound in manufacturers' confidence may ease some fears of a recession in the world's third-largest economy. Highlighting uncertainty over the outlook, about two-thirds of companies expect growth to remain flat in the second quarter, while 82% of firms believe Japan's economy is not fully prepared for a planned tax hike, a Reuters monthly poll showed. Investors are closely watching the government's monthly report due later this week for a possible downgrading of its view that the economy is in a gradual recovery, which would rekindle speculation about a tax hike delay. Ministry of Finance (MOF) data showed on Wednesday Japan's exports fell 2.4% in April from a year earlier, down for a fifth straight month. That compared with a 1.8% drop seen by analysts in a Reuters poll. However, data on capital expenditure offered more encouragin

Business Acacia Mining gets $2.4 million fine in latest row with the Tanzanian government

The rocky relationship between the Tanzanian government and the biggest miner in the country, Acacia Mining, has taken a rather unpleasant turn this week after the company was An environmental protection order (EPO) has also been issued against the company by the Tanzanian National Environment Management Council (NEMC), in relation to allegations of pollution from the mine's tailings dam. "The North Mara gold mine has been given two weeks to pay the fine and three weeks to rectify the problem at its tailings storage facility," In a confirmation of the EPO issuance, Acacia said that the mine's technical team has been working "constructively and collaboratively" with the government of Tanzania to address concerns regarding alleged breaches of various environmental regulations and discharges of a dangerous substance from the mine. Even though operations at the mine are still on following recent events, the company said it has been asked to build a new tailings dam and structure for storing uneconomical ore.

BUSINESS MAVERICK: Corporate SA pushes into Poland's land of promise and prosperity

Poland is quite the flirt. It has attracted a number of JSE listed companies to its shores over the years. And as long as the SA economy remains dim and exchange controls are kept intact, industry players say that their home country will continue to push its companies into the arms of foreign suitors.

Business Maverick: Africa's appetite for cryptocurrencies surges

Illustrative image. Photo: Pixabay/Pexels The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick back upwards.

Business Maverick: Africa's appetite for cryptocurrencies surges

Illustrative image. Photo: Pixabay/Pexels The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick back upwards.

U.S. business group says retaliation rising in China amid trade war

BEIJING, May 22 (Reuters) - A top U.S. business lobby in China said on Wednesday that nearly half of its members are seeing non-tariff barrier retaliation in China as a result of the increasingly bitter trade war between Beijing and Washington. The American Chamber of Commerce of China and its sister body in Shanghai, citing a recent survey of members on the impact of tariffs, also said that 40.7% of respondents were considering or had relocated manufacturing facilities outside China. Of the almost 250 respondents to the survey, which was conducted after China and the United States both raised tariffs on each other's imports earlier this month, almost three-quarters said the impact of tariffs was hurting their competitiveness. To cope, around one third of companies said they were increasingly focusing their China operations on producing for Chinese customers and not for export, while another one-third said they were delaying and cancelling investment decisions. Members said they face increased obstacles such as government inspections, slower customs clearance and slower approval for licensing and other applications. The chamber said in February that a majority of its members reported in an earlier annual survey that they favoured the United States retaining tariffs on Chinese goods while Washington and Beijing try to hammer out a deal to end the months-long trade war. At the time, which was well before the latest tariff hikes, the chamber said that 19% of its member companies were adjusting supply chains or seeking to source components and assembly outside of China as a result of tariffs, while 28% were delaying or cancelling investment decisions in China. Long considered the ballast in a relationship fraught with geopolitical frictions, the U.S. business community in China in recent years has advocated a harder line on what it sees as discriminatory Chinese trade policies. Trade

BUSINESS MAVERICK INTERVIEW: Sibanye-Stillwater CEO explains why he has drawn a line in the sand on Lonmin deal

Sibanye CEO Neal Froneman, pictured in 2008 (Photo by Gallo Images / Financial Mail / Robert Tshabalala) Sibanye-Stillwater is in the final stretch of its bid to acquire troubled platinum producer Lonmin. There has been speculation that some shareholders may now hold out for a better deal because of changing market conditions. Sibanye CEO Neal Froneman outlines why he is not budging.

Business Maverick: Africa's appetite for cryptocurrencies surges

The price of bitcoin soared to an all-time high of $20,000 in December 2017 and collapsed to $3,400 a month later, prompting speculation that cryptocurrencies had imploded in the fizz of their own hype and unfulfilled promises. Since then, however, the price has held steady and even begun to tick back upwards. In South Africa, and on the continent, there have been several recent crypto developments, suggesting the market here is beginning to tingle with life..

Business Tanzania to attract more tourists next year

In a bid to boost foreign currency earnings, the Tourist Board of Tanzania (TTB) is working to increase the number of tourists from 1.49 million it was in the previous year to two million in the coming year. Tourism has been one of the major sources of hard currency in Tanzania and has also attracted lots of tourists from places like Israel, China,Britain, Germany, Italy and France. "We were given target of attracting and raising the number of tourists to two million by 2020.

Saudi cabinet affirms desire to avoid war, stabilise oil markets

RIYADH, May 22 (Reuters) - Saudi Arabia's council of ministers reiterated the country's commitment to balancing global oil markets and preventing regional conflict amid tensions between Iran and the United States, state media reported on Wednesday. The kingdom "will do everything in its power to prevent any war and its hand is always extended to peace," a cabinet statement said, adding the government was committed "to achieving balance in the (oil) market and working towards its stability on a sustainable basis." Reporting by Stephen Kalin and Marwa Rashad Editing by Leslie Adler.

Tariff tensions taunt traders

The US and China both still have an enormous economic incentive to reach an agreement, and local investors should stay calm. Trade tensions between the world's two largest economies are front and centre again, and markets are jittery. In fact, after the initial shock, investors now just appear downright confused. Mixed messages from US President Donald Trump's Twitter feed make it difficult to suss out the prospects for successful trade negotiations with China, or even what Trump's real aims are.

African Bank makes entry-level bank account play

Will compete on ‘shared' banking, savings and fees. African Bank has become the latest financial services provider to enter the increasingly competitive entry-level transactional bank account space. With no monthly fee, it is clear the bank is competing very strongly on price, and it contends that its new MyWorld account is the "cheapest transactional account" in the country (based on the same methodology used in Solidarity's bank charges report). The other differentiator is that MyWorld allows account holders to transact and save together with family and friends through a concept it calls "shared banking".

Coronation hampered by volatile markets

The fund manager has reported lower earnings and trimmed its interim dividend after weak markets and the subdued economy affected asset levels. Coronation Fund Managers says it's more positive on prospects for the second half of its financial year after posting a sharp fall in first-half earnings. Releasing interim results, the fund manager said volatile markets towards the end of last year were only partly offset by a recovery in the first quarter of this year, with the JSE's All Share index rising just 2.7% in the six months to end-March.

Tobacco weighs on Reinet's value

The investment vehicle has spent €68 million buying back its own shares to try to narrow the 42% discount it trades at. A fall in British American Tobacco's (BAT) share price has dented the value of Reinet Investments, the vehicle that was created out of the 2008 restructuring of Richemont. The investment group's net asset value fell 5.8% to €297 million in the year to end-March as BAT's share price declined by 23% to £31.94.

Coronation hampered by volatile markets

The fund manager has reported lower earnings and trimmed its interim dividend after weak markets and the subdued economy affected asset levels. Coronation Fund Managers says it's more positive on prospects for the second half of its financial year after posting a sharp fall in first-half earnings. Releasing interim results, the fund manager said volatile markets towards the end of last year were only partly offset by a recovery in the first quarter of this year, with the JSE's All Share index rising just 2.7% in the six months to end-March.

Business Maverick: Hybrid CDOs Are cheapest thing in the entire globe.

A reincarnated version of collateralized debt obligations, backed by both high-yield bonds and leveraged loans, offers investors some of the best relative-value plays in fixed-income, according to Credit Suisse Asset Management. So-called hybrid collateralised debt obligations (CDOs) may be "the cheapest thing in the entire globe with a AAA rating," Amir Vardi, a structured products portfolio manager at the firm, said Tuesday while speaking on a panel at Information Management Network's annual Investors' Conference on CLOs and Leveraged Loans. Market participants say today's CDOs bear little resemblance to the ones that contributed to the financial crisis.

Business Maverick: Top US Tech Companies Begin to Cut Off Vital Huawei Supplies

The Trump administration on Friday blacklisted Huawei — which it accuses of aiding Beijing in espionage — and threatened to cut it off from the U.S. software and semiconductors it needs to make its products. The ban, which had been anticipated, hamstrings the world's largest provider of networking gear and No.

UGANDA: Opposition lesson 3 from Business School - DRP

It is not like Uganda opposition reads anything I write.  They are too busy making noise to chase Museveni out of power with words.  No actions.  IPOD showed you all. Yesterday, I wrote about BCP (Business Continuity Plan) and said I would write about DRP (Disaster Recovery Plan). Previously, I had written about RISK.

South Africa's Tiger Brands H1 earnings fall 12%

JOHANNESBURG, May 22 (Reuters) - South Africa's Tiger Brands posted a 12% fall in half-year earnings on Wednesday, due to continued pressure on consumer spending and lower sales in international markets. The country's leading food producer, with brands such as Jungle Oats and Tastic rice, said headline earnings per share (HEPS) from continuing operations in the six months ended March 31 dropped to 762 cents from 868 cents a year earlier. HEPS is the main profit measure in South Africa and strips out certain one-off items.

BUSINESS MAVERICK: Another day, another wildcat strike on South Africa's platinum belt

Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest. What is unusual is the union behind it: the General Industrial Workers Union of South Africa.

Why new competition act is actually bad news for small business

Tackling the structure of the economy has been a long-standing policy position of the current government. The latest policy tool applied to challenge industry is the newly signed Amended Competition Act 18 of 2018. The act's stated intention is premised on multiple pillars to ensure broad-based economic transformation. Participation of previously disadvantaged persons and black-owned small, medium and micro-sized enterprises (SMMEs), as well as improvement of institutional alignment between government departments and policies, is worthy of support. What is not helpful is the provision that aims to regulate the behaviour of firms by breaking up concentrated business in SA.

African Markets - Factors to watch on May 22

NAIROBI, May 22 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. - - - - - GLOBAL MARKETS Asian stocks were on shaky ground on Wednesday, as earlier relief over Washington's temporary relaxation of curbs against China's Huawei Technologies failed to offset deeper worries about trade frictions between the world's two largest economies. MKTS/GLOB WORLD OIL PRICES Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced.

UPDATE 2-Oil falls on rising U.S. stockpiles, but markets remain tense

* U.S. crude stocks rise by 2.4 mln barrels to 480.2 mln-API * Saudi pledges to keep oil markets balanced and sustainable * Saudi Arabia has led supply cuts since start of the year * Global oil demand growth slows amid trade tensions-BoAML (Adds Morgan Stanley forecast, updates prices) By Aaron Sheldrick and Henning Gloystein TOKYO/SINGAPORE, May 22 (Reuters) - Oil prices fell on Wednesday after industry data showed an increase in U.S. crude inventories and as Saudi Arabia pledged to keep markets balanced.

A solution to South Africa's sanitary towel problem

Various reports have shown that South African girls are still missing school due to not having sanitary towels available. With many households struggling to make ends meet, buying pads is not always be a priority. This struggle is the reason why Sherie de Wet came up with re-usable sanitary towels - to lower the financial burden for these girls.

Guptas' struggling mines lure buyers

Business entities and wealthy individuals have shown interest in purchasing the Mpumalanga and KwaZulu-Natal-based Gupta-owned mining assets. This includes Optimum and Koornfontein mines and the Richards Bay coal terminal, which went through business rescue last February, according to Liquid Services associate director John Taylor. Liquid Services and Park Village Auctions are among the companies contracted to oversee the sale of the mining assets.

Four dead, three injured after inhaling poisonous gases

Western Cape: At 14H17 Tuesday afternoon Netcare 911 responded to reports of an industrial incident in Parow Valley. Paramedics from Netcare 911 and Life RV - Lima Charlie 1 were in attendance. Reports from the scene indicate that workers had become trapped in a Dump and waste collection pit and were suffering the effects of toxic gases. Cape Town Fire and Rescue Services crews had to use breathing apparatus as well as set up a rope system to retrieve the patients.

Inhlangano ifuna ukusiza abadlali bebhola abasafufusa

INHLANGANO engenzi nzuzo, Isiphiwosethu Organisation, yaseMbali ithi izimisele ukusiza abadlali bebhola abasakhula ukuthi nabo bagcine sebekwazile ukuphumelela kwezikanobhutshuzwayo. Le nhlangano isungulwe eminyakeni emibili eyedlule. Ngokusho kukaMnu Sandile Mngadi nongelinye lamalunga ayo uthe inhloso enkulu ukuthi basize abafana abancane abasakhula ukuthi bakwazi ukuthuthukisa ikhono labo ebholeni likanobhutshuzwayo.

South Africa's political and investment view

JOHANNESBURG -  South Africa has just completed its 6th democratic national elections and saw a majority win of 57.5% by the ruling party, the African National Congress (ANC). The result is considered a respectable win for a party that has been accused of rampant corruption, weak economic growth, poor state-owned entity management and a policy stall. Much of the malaise  has taken place under the leadership of the previous president, Jacob Zuma.

Myrun @ Vergenoegd Löw Wine Estate - 9 June 2019

We are excited to bring you our myrun event at Vergenoegd Löw Wine Estate, every Sunday morning. Our timed running events are free and bring like-minded people together, regardless of level of fitness and open to everyone including kids and leashed pets! ***Please register on www.myrun.org.za and purchase your timing band before arriving for the event. Upon registration, please ensure that you select Vergenoegd Löw Wine Estate as your venue so that we know where you will be collecting your timing band.

Local RFID solutions provide flexibility in emerging markets

Local RFID solution providers offer cheaper and more flexible solutions that are better suited to the South African market. Radio Frequency Identification (RFID) technology has been around for a long time, but local companies are now beginning to focus on providing flexible and customisable RFID solutions that are affordable in an emerging market. RFID utilises electromagnetic fields to identify and track tags attached to objects.

NMB Industrial League heats up

HUGE goal margins were the order of the day as the SAFA Nelson Mandela Bay Industrial League resumed at the POPS, Shatterprufe and Old Westview grounds on Sunday. Faurecia Uitenhage Plant were ruthless when they handed Famous Brands a 4-1 defeat at POPS grounds. At Shatterprufe grounds, Shatterprufe Neave Plant went down 3-1 to Conti-Tech.

Business case for cloud: Finance needs seat at the table

Most businesses are by now already at one or another stage of the enterprise cloud transformation journey and a staggering 93% of business executives who participated in Deloitte's 2018 global outsourcing survey, confirmed that their organisations were adopting - or at least considering adopting - cloud. Deloitte South Africa Finance and Enterprise Performance Management Leader Phillip Hechter says that, "Cloud is not just here, but here to stay. With the potential for significant cost savings and enhanced strategic value, cloud represents a fundamental shift in how technology solutions are developed and in how they are delivered".

Shady PIC home loan deal reported to Hawks

JOHANNESBURG - Several people from the PIC have been reported to the Directorate for Priority Crime Investigation regarding a suspicious deal. Dan Matjila, Royith Rajdhar, Wellington Masekesa from the PIC and Kholofelo Maponya were all reported to the Hawks regarding the transaction origination of fees related to a deal with SA Home Loans. Standard Bank's head of compliance, Ian Sinton, said the bank had been worried about the developments with SA Home Loans relating to Maponya's involvement for some time.

One dead another injured in wall collapse

At 09H25 Wednesday morning Netcare 911 responded to reports of a collision on the corners of Kruger Street and Marshall Street in City and Suburbon, Johannesburg. Reports from the scene alleged that a tipper truck transporting materials for recycling knocked an eight-meter portion of a wall which had collapsed on two pedestrians. The patients and adult male sustained fatal injuries and was declared deceased on the scene.

Mining giant BHP says coal outlook 'challenged'

AUSTRALIA - BHP, the world's biggest miner, said the outlook for coal was "challenged" and there was "no appetite for growth" as it sought to capitalise on opportunities in electric transport and renewables. The miner outlined its long-term strategy months after other major global commodities giants -- including Glencore and Rio Tinto -- said they were limiting or moving away from coal production. "Thermal coal should remain a large market -- but over time we expect it to plateau and then decline as headwinds strengthen," BHP's chief financial officer Peter Beaven said in a briefing.

Business Nigeria to boost domestic consumption of cooking gas with new plant

The Nigerian National Petroleum Corporation (NNPC) is The NNPC in partnership with its subsidiary, the Nigerian Petroleum Development Company Limited (NPDC) is designing the facility to serve as an extension of the Integrated Gas Handling Facility (IGHF). It is expected to handle the 100 million standard cubic feet of gas per day (MMscfg/d) and over 260 Barrels per day condensate from the IGHF plant. This development was disclosed in a statement by NNPC spokesman, Mr Ndu Ughamadu, in Abuja on Sunday.

Marketing strategies for Restaurants to follow to have successful business

Amidst the intense competition, it sometimes gets hard for restaurants to keep up and eventually they end up shutting down. While having great food and service is crucial for a restaurant, it is important that these places also stand out since there are so many restaurants every step of the way. In order to stay ahead of the game, the restaurant management should ensure that they use the best restaurant marketing strategies possible that will help them get the maximum amount of customers.

BUSINESS MAVERICK: Robo-apocalypse? Not in your lifetime

Illustrative image. Photo: Photo by Franck V/Unsplash Will robots take our jobs? The rise of ‘thinking' and ‘learning' algorithms has created fears that technology will gradually replace humans at work. Yet we have been replacing human work with, first, animals, and then machines, for centuries.

Understanding the sports business with Declan Ahern

Real Madrid has eclipsed Manchester United as the football club with the greatest brand value. That's the latest finding from Brand Finance, a valuation consultancy firm based in the London. For more on their 2019 report lets chat to Declan Ahern from Brand Finance via skype...

Entries grow for MTB fest

ENTRIES are streaming in for the Sappi Karkloof Classic Trail Festival on 1 and 2 June, confirming the popularity of this weekend of mountain biking and trail running event. Now into its 26th year, the trails that wind through the plantations and countryside of the Karkloof, have earned an enviable reputation. They are known to mountain bikers across the country as fast and flowing, offering rewarding views at the end of each tough climb while at the same time being technically challenging enough to make each ride memorable.

BRIEF-Shoprite Updates On Proposed Acquisition, Cancellation Of Deferred Shares

May 22 (Reuters) - Shoprite Holdings Ltd SHPJ.J : * PROCEDURAL UPDATE ON THE PROPOSED TRANSACTION * TO POST CIRCULAR TO SHAREHOLDERS FOR PROPOSED ACQUISITION AND CANCELLATION OF DEFERRED SHARES * TAKEOVER REGULATION PANEL GRANTED CO EXTENSION TO POST CIRCULAR ON OR ABOUT 27 MAY, BUT BY NO LATER THAN 14 JUNE.

UPDATE: North 'panga assault' man granted bail

Panga assault accused Wesley Roux has been granted bail by the Pretoria North Magistrate's court. The 28-year-old appeared briefly in court on Monday but had his case postponed to Tuesday so the court could get his docket and for a formal bail application. When he appeared on Wednesday, an application was made for forfeiture of bail.

The Loeries shared value initiative: No one stands alone

If you love creative work that highlights a powerful, socially uplifting message, look at the Loeries Shared Value category, sponsored in 2019 by Vodacom. It's a showcase of brilliant campaigns that are socially useful and commercially successful. " data-lazyauto="true"> Abey Mokgwatsane, Vodacom's Managing Executive: Brand & Comms " data-lazyauto="true"> Digi Farm took Gold for the 2018 Shared Value category Shared value takes corporate social responsibility much further.

MCSA: Minerals Council South Africa Office Bearers for 2019/2020

Today, at the 129th Annual General Meeting of the Minerals Council South Africa, Board members elected the new Office Bearers for 2019/2020. Mxolisi Mgojo, CEO of Exxaro Resources, has been re-elected as President. Steve Phiri, CEO of Royal Bafokeng Platinum, Andile Sangqu, executive head of Anglo American South Africa and Neal Froneman, CEO of Sibanye-Stillwater have been re-elected as Vice Presidents.

'Ethnic fights cost lives,' says prosecutor in black business mogul's k-word trial

Businessman Peter-Paul Ngwenya's use of a derogatory racial term was meant to insult and "dehumanise" his former best friend Fani Titi. This was the argument presented by the state on Wednesday during closing arguments from the prosecution and defence being heard in the Randburg Magistrate's Court. Ngwenya, who spent almost five years on Robben Island, is facing charges of contravening a protection order and of crimen injuria for allegedly calling Investec chair and long-term friend Titi the k-word in a text message.

SA mining industry re-elects top officials at AGM

The Minerals Council South Africa on Wednesday re-elected all its top officials back into office, and added Zanele Matlala, the chief executive of Merafe Resources, who was elected as one of four vice presidents. This as the Minerals Council held its 129th Annual General Meeting where board members elected the new office bearers for 2019/2020. Mxolisi Mgojo, chief executive of Exxaro Resources, was re-elected as president, while Steve Phiri, the chief executive of Royal Bafokeng Platinum, Andile Sangqu the executive head of Anglo American South Africa, and Neal Froneman, the chief executive of Sibanye-Stillwater, were all re-elected as vice presidents.

ARM employees told to suspend business with Huawei

UK-based chip designer ARM has reportedly informed employees not to work with Chinese technology giant Huawei. Internal documents obtained by the BBC reportedly tell staff to suspend "all active contracts, support entitlements, and any pending engagements" with the firm following an executive order issued by American president Donald Trump last week, prohibiting the technology of "foreign adversaries" using US technology without government approval. The Cambridge-based firm, which was acquired by Japanese telecommunications company SoftBank in September 2016, licenses processor designs found in many smartphones globally.

BRITISH AMERICAN TOBACCO PLC - Notification and public disclosure of transactions by persons discharging managerial responsi

Wrap Text Notification and public disclosure of transactions by persons discharging managerial responsibilities British American Tobacco p.l.c. Incorporated in England and Wales (Registration number: 03407696) Short name: BATS Share code: BTI ISIN number: GB0002875804 ("British American Tobacco p.l.c." or "the Company") British American Tobacco p.l.c. (the "Company") Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them 1 Details of the person discharging managerial responsibilities / person closely associated a) Name Jack Bowles 2 Reason for the notification a) Position/status Chief Executive b) Initial notification Initial notification /Amendment 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor a) Name British American Tobacco p.l.c. b) LEI 213800FKA5MF17RJKT63 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted Transaction 1 a) Description of the financial instrument, type of instrument Ordinary shares of 25p each Identification code GB0002875804 b) Nature of the transaction Exercise of options under the British American Tobacco Long-Term Incentive Plan (2016 Award) c) Price(s) and volume(s) Price(s) Volume(s) £nil 22,711 d) Aggregated information - Aggregated volume 22,711 - Price £nil e) Date of the transaction 2019-05-20 f) Place of the transaction

Fraedom and Uber to simplify receipts for business travellers

Fraedom, a fintech provider of transaction management solutions, has announced it is to collaborate with Uber in Australia and New Zealand to automate the receipt collection process for business travellers. The collaboration will allow the integration of Uber trip receipts with Fraedom's existing expense management platform. In lieu of collecting a physical receipt and then going through the rigmarole of submitting it for approval, travellers will instead have their digital receipts automatically appear in Fraedom.

Prepare For Business Unusual This South African Winter

South African businesses heavily-relevant on realtime telecoms links for their bread and butter need to start squirreling away redundant capacity forthwith. That's the message from leading independent telco Huge Networks, now incorporating Otel, as autumn sets in. One senior opposition party politician was quoted in Parliament last month as saying that load-shedding is "imminent".

ASPEN PHARMACARE HOLDINGS LIMITED - Cautionary announcement

Wrap Text Cautionary announcement ASPEN PHARMACARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) Registration number 1985/0002935/06 Share code: APN ISIN: ZAE000066692 ("Aspen" or "the Company") CAUTIONARY ANNOUNCEMENT Further to the communication in Aspen's interim results announcement made on 7 March 2019 that the Company had embarked on a strategic review of its European and South African Commercial Pharmaceuticals businesses, shareholders are advised that Aspen is currently engaged in discussions with a potential partner in Europe. Shareholders are advised to exercise caution when dealing in the Company's securities. Durban 22 May 2019 Sponsor Investec Bank Limited Date: 22/05/2019 02:00:00 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.

Embedding AI in Business

Accenture's Chief Technology and Innovation Officer, Paul Daugherty, discusses how to successfully integrate AI in your business: Do not think of it as bolt-on tech, but rather, as an opportunity to reimagine everything you do..

Business Maverick: Can Eskom prove the markets wrong?

With the markets already pricing in a pessimistic outcome for the Eskom energy crisis, even a small improvement in the electricity situation could open up opportunities in the SA bond and equity markets. The market is fully aware of the position of the embattled power utility, and has already priced in "a pessimistic outcome", says Chris Holdsworth, investment strategist, Investec Wealth & Investment, in a recent Investec FOCUS Radio podcast. Pointing to pricing in the SA bond and equity markets, Holdsworth says that the worst case scenario for Eskom is "already reflected in the prices".

Business Maverick: Can Eskom prove the markets wrong?

With the markets already pricing in a pessimistic outcome for the Eskom energy crisis, even a small improvement in the electricity situation could open up opportunities in the SA bond and equity markets..

Black Business Council urges Ramaphosa to spearhead economic recovery, renewal

The Black Business Council (BBC) has congratulated President Cyril Ramaphosa on his official election as President of the Republic of South Africa on Wednesday following general elections two weeks ago. Ramaphosa has been given the official mandate to serve as president of the republic again after his formal election in the National Assembly. He was elected unopposed to loud cheers coming from African National Congress (ANC) members of Parliament (MPs).

South Africans are spending less on their weekly shopping trip

South African shoppers are spending less, but are still stretching their wallets, according to Tiger Brand's interim report for the six months ending March 2019. Tiger Brands, which carries brands including Koo canned foods, All Gold, and Tastic rice, said that revenue from continuing operations fell 2% to R15.4 billion in the interim period. Group operating income declined 24% to R1.5 billion, while headline earnings per share (HEPS) from continuing operations was down 12% to 762 cents, from 868 cents.

Portfolio Watch: Trends in currency markets, mergers and acquisitions in South Africa

On this week's episode of Portfolio Watch we discuss the trends in currency markets and when trading should be approached with a long-term or short term investment strategy, joined by Andre Cilliers, Director at TreasuryONE, and James Turp, Head of fixed income at Absa asset management. In the second half of the show we examine whether bigger is always better, when do mergers and acquisitions indicate of a good time to invest joined by Gary Booysen, Director and Portfolio Manager at Rand Swiss.... The post appeared first on CNBC Africa ..

Tobacco players allowed to weigh in on BAT-Twisp merger approval - regulator

Two large players in the tobacco industry will be able to intervene in a proposed merger between British American Tobacco (BAT) and e-cigarette maker or vaping brand Twisp, the Competition Tribunal has said. "Gold Leaf Tobacco and Philip Morris South Africa have been recognised as participants in the ongoing large merger proceedings involving British American Tobacco and Twisp," the Tribunal said in a statement issued on Wednesday. This means the companies are allowed to participate in the Tribunal's hearing of the merger.

South Africa's Steinhoff postpones shareholder hearing over petition

JOHANNESBURG, May 22 (Reuters) - South African retailer Steinhoff International Holdings N.V. said on Wednesday it had postponed a hearing with shareholders who are petitioning looking for an inquiry into the company before a Dutch court. The company has been in the middle of a clean-up of its balance sheet after discovering multi-billion euro holes in its accounts in 2017, erasing about 85 percent of its market value and throwing it into a liquidity crisis.

AB InBev expects total investment of up to $400 mln in Nigerian brewery

JOHANNESBURG, May 22 (Reuters) - Anheuser-Busch InBev (AB InBev), the world's largest beer maker, expects the total investment in its new brewery at Sagamu in Nigeria, to be up to $400 million, Chief Executive Carlos Brito said on Wednesday. The $250 million brewery has already started operation and more phases of added capacity are still to come, Brito told reporters at a media briefing in Johannesburg. (Reporting by Nqobile Dludla; Editing by Jane Merriman).

Tiger Brands revenue falls short after challenges at meat unit

JOHANNESBURG (Reuters) - South Africa's Tiger Brands underestimated the work involved in re-establishing its processed meats business after a listeria outbreak, it said on Wednesday, leaving it with disappointing sales and a battle to reclaim market share. Tiger Brands Chief Executive Lawrence MacDougall speaks during the release of their interim results in Johannesburg , South Africa, May 24, 2018. REUTERS/Siphiwe Sibeko/File Photo The outbreak in February 2018 forced the country's leading food producer to recall cold meat products such as polony and suspend operations at its facilities.

ARM employees told to suspend business with Huawei

UK-based chip designer ARM has reportedly informed employees not to work with Chinese technology giant Huawei. Internal documents obtained by the BBC reportedly tell staff to suspend "all active contracts, support entitlements, and any pending engagements" with the firm following an executive order issued by American president Donald Trump last week, prohibiting the technology of "foreign adversaries" using US technology without government approval. The Cambridge-based firm, which was acquired by Japanese telecommunications company SoftBank in September 2016, licenses processor designs found in many smartphones globally.

Own Your Own Business - Invest In A Franchise

Franchising has been called the greatest business model ever invented and has enabled many thousands of people around the world to become owners of their own business. But how do you choose which brand to partner with? If you've always wanted to own your own business, joining a franchise system greatly reduces the risk of new-business failure simply because the idea and process of running that particular franchised business has already been proven; systems are in place and one does not have to re-invent the proverbial wheel. It is, however, of utmost importance that one carefully evaluates the reasons for entering a specific sector and partnering with a particular brand.

Business Maverick: Can Eskom prove the markets wrong?

With the markets already pricing in a pessimistic outcome for the Eskom energy crisis, even a small improvement in the electricity situation could open up opportunities in the SA bond and equity markets. The market is fully aware of the position of the embattled power utility, and has already priced in "a pessimistic outcome", says Chris Holdsworth, investment strategist, Investec Wealth & Investment, in a recent Investec FOCUS Radio podcast. Pointing to pricing in the SA bond and equity markets, Holdsworth says that the worst case scenario for Eskom is "already reflected in the prices".

Local bourse weaker as resources buckle

The JSE closed weaker on Wednesday led by moderate losses across most blue-chip stocks. Trade tensions remain the dominant driver of market direction globally and as of Wednesday, most global indices retreated as the US threatened to target more Chinese technology firms. In the United Kingdom, the pound sterling fell as pressure mounts on prime minister Theresa May to quit following her offer for a second referendum.

Rupert's Reinet buys more PensCorp shares

UK-based financial services business Pension Insurance Corporation is gradually filtering out the influence of British American Tobacco.

MTN discontinues 21km race to focus on ICT initiatives

JOHANNESBURG - MTN on Wednesday said that it will be discontinuing its 21km race in aid of ICT projects as this will allow it the opportunity to strengthen its focus on ICT initiatives which will benefit more beneficiaries. The MTN Group said in a statement that new and important initiatives, designed to have a positive impact on the youth, will be launched at the beginning of June. This will be part of the 2019 edition of 21 Days of Y'ello Care.

UPDATE 1-Brazil sues top tobacco firms to recover public health costs

(Adds comment from Philip Morris) BRASILIA, May 22 (Reuters) - Brazil's solicitor general's office is suing the world's largest cigarette makers British American Tobacco Plc and Philip Morris International to recover the public health treatment costs of tobacco-related diseases over the last five years. The office, known as the AGU, announced the landmark lawsuit late on Tuesday against the two multinational companies and their Brazilian subsidiaries. The legal action seeks to recover the cost to Brazil's public health system for the treatment of patients for 26 illnesses related to smoking tobacco or coming into contact with cigarette smoke, the AGU said in a statement.

Zambia in Battle Over Copper Royalties

Zambia tries to reclaim strategic copper mines as debt burden worsens. Zambia placed one of the country's major copper mining companies Vedanta in liqudation on Tuesday [May 21st, 2019] in the wake of their continued refusal to pay a new value-added tax, in breach of the country's mines and minerals Act. It has also threatened to do the same with Glencore.

South Africa to add US $7m office and residential complex in La Lucia Mall

South Africa is set to add a US $7m office development and a seven-floor high residential complex in La Lucia Mall site in KwaZulu at the site of a free parking lot of the mall. Regional Head of owners of of the mall Growthpoint Properties , Greg de Klerk revealed the reports and said that the idea behind the developments, which are still under consideration. "Both of these developments are very much in the design concept stage.

Running Bidvest doesn't scare me! - Mpumi Madisa (39)

When I joined Bidvest, I was 23 years old… — Mpumi Madisa, incoming CEO - Bidvest I was introduced to Brian Joffe quite early in my career. It was probably the scariest moment of my life… — Mpumi Madisa, incoming CEO - Bidvest Six years ago; both Brian and Lindsay said to me the role of CEO could be in reach for me… I remember just about falling off my chair… I just decided I'm going to do my best… — Mpumi Madisa, incoming CEO - Bidvest When Mpumi Madisa becomes Bidvest's new CEO, she will be the first female to lead the company. She will be the only black woman CEO of a JSE Top-40 company.

SA Home Loans ‘bribe': Former PIC executive reported to Hawks

Former Public Investment Corporation (PIC) chief of staff Wellington Masekesa has been reported to the Hawks for allegedly soliciting a bribe in a deal between SA Home Loans and the PIC. He was reported along with businessman Kholofelo Maponya, the Commission of Inquiry into improprieties at the PIC heard on Wednesday. Standard Bank special counsel Ian Sinton has on Wednesday morning testified that Maponya and Masekesa - both directors at SA Home Loans - have been reported to the Hawks by SA Home Loans CEO Kevin Penwarden.

BRIEF-Steinhoff: Enterprise Chamber Inquiry Proceedings have been postponed

May 22 (Reuters) - Steinhoff International Holdings NV SNHJ.J : * STEINHOFF - ENTERPRISE CHAMBER INQUIRY PROCEEDINGS * STEINHOFF - COMPANY AND GROUP OF SHAREHOLDERS HAVE MUTUALLY AGREED TO POSTPONE DATE OF THIS HEARING TO A DATE LATER IN CALENDAR YEAR * STEINHOFF-IN FEB, CONFIRMED RECEIPT OF PETITION BY SHAREHOLDERS GROUP FOR INQUIRY PROCEEDINGS BEFORE ENTERPRISE CHAMBER OF AMSTERDAM COURT OF APPEAL * STEINHOFF - SHAREHOLDERS AND OTHER INVESTORS IN COMPANY ARE ADVISED TO EXERCISE CAUTION WHEN DEALING IN SECURITIES OF GROUP. * STEINHOFF - DATE OF ENTERPRISE CHAMBER INQUIRY PROCEEDINGS HEARING WILL BE COMMUNICATED TO MARKET AS SOON AS IT HAS BEEN FINALISED..

EMERGING MARKETS-Latin American currencies firm against stronger dollar

(Corrects to remove references to Chilean stocks in paragraph 8 and in table.) May 21 (Reuters) - Most Latin American currencies firmed on Tuesday, with Mexico's peso cutting some losses to trade marginally higher against a stronger dollar. President Andres Manuel Lopez Obrador on Monday said he would discuss ways to reduce the tax burden of state oil firm Pemex. The peso was 0.2% higher extending gains to a second session.

BlackRock Bets on ‘Cheap' Markets in Brazil and Argentina

(Bloomberg) -- When it comes to Latin America, BlackRock Inc (NYSE:BLK). favors Brazilian and Argentinian stocks. "We see both markets and currencies trading at very cheap levels," said Ed Kuczma, BlackRock's portfolio manager, who oversees $1.9 billion in the company's Latin American equity funds. "The weakness we're seeing right now creates long-term opportunities, as companies will take advantage of the weak growth to right-size their operating structure," Kuczma said by phone. Brazil's benchmark equity Ibovespa index has fallen 2.7% so far this month, as noise from domestic politics has added to weaker-than-expected economic growth.

Smart Money - 20 May 2019: Part 1

The world of investing could seem daunting with all the jargon and buzzwords. Janina Slawski, Principal Investment Consultant at Alexander Forbes Investments and Garth Mackenzie, Editor and Founder of Traders Corner discuss where to start when you're considering investing..

Business News - 21 May 2019

Another recession could be on the cards for South Africa, Reinet's investment in British American Tobacco continues to weigh and Coronation Fund Managers has cut its interim dividend by more than a quarter..

Iqbal Survé: From Teflon to Velcro - muck's now starting to stick

Like his other fans, I'm in awe of Ed Herbst's researching skills. Every article he sends us is compiled as one would an academic paper or affidavits in an important trial - each statement with supporting evidence pointing to facts which might otherwise be missed. Ed's process guides the reader through a mountain of information, leaving little to the imagination.

‘Extremely challenging market' cuts Coronation Fund Managers profit

Inflows into retail market decline, alongside outflows from the long-term fund manager category. NOMPU SIZIBA: Coronation Fund Managers were out with their interim results today [Tuesday]. The results reveal that the financial markets are a bristly place to be playing in right now.

If the Key to Business Success Is Focus, Why Does Amazon Work?

Harvard Business School professor Sunil Gupta explores the infiltration of Amazon into dozens of industries including web services, grocery, online video streaming, content creation and, oh, did we mention physical bookstores? What's the big plan? Is the company spread too thin, or poised for astronomical success? Gupta is the author of the case study, "Amazon 2.

MRP Foundation pays tribute to its fallen Kloof hero

THE MRP Foundation paid tribute to one of its fallen heroes, the late Paul Els, at the launch of the 2019 edition of the Ride for MRP Foundation at CMH Nissan Durban last night (Monday, 20 May). Kloof resident, Els, died in a cycling accident at the weekend and was due to receive an award for his extraordinary fundraising efforts in the annual Ride for MRP Foundation. Els, the Group Store Development Executive from Mr Price Group, was an integral part of the successful 2018 edition of the Ride for MRP Foundation.

8 things you should know before starting a small business

Here's everything you need to know before starting your own business. There's more to starting a business than just money and a good idea. Entrepreneurs with successful startups say you need to find a good accountant, have a diverse team, and find your niche.

The Healthy Business Show - Starting Your Business

Today we see Discovery as one of South Africa's biggest businesses with thousands of employees and hundreds of thousands of clients, but in 1992 it was just a small team trying to pitch their idea and break into the market. Barry Swartzberg (Vitality Group CEO) chats to Fred Roed about when and how to scale your business. How important is honing your product and market validation? In this first exciting episode, we hear why, when it comes to entrepreneurship, you need to ‘fall in love with the process'.

BRIEF-EOH Holdings Updates On Public Sector Contracts Being Undertaken By Ensafrica

May 21 (Reuters) - Eoh Holdings Ltd EOHJ.J : * JSE: EOH - FURTHER CAUTIONARY ANNOUNCEMENT * EOH - INTERNALLY-INITIATED INVESTIGATIONS INTO PUBLIC SECTOR CONTRACTS BEING UNDERTAKEN BY ENSAFRICA ON TRACK TO BE CONCLUDED BY 31 MAY 2019 * EOH - ON RECEIPT OF REPORT ON INVESTIGATIONS, CO TO TAKE NECESSARY TIME TO ASSESS DETAIL THEREOF & WHERE NECESSARY ENGAGE WITH RELEVANT STAKEHOLDERS.

GLOBAL MARKETS-Global stocks rally as U.S. eases Huawei restrictions

(Adds U.S. market open, byline, dateline; previous LONDON) * European stocks with Asian exposure rise, chipmakers gain * Dollar rises as trade war hits Asian economies * U.S. yields rise as stocks advance on Huawei news * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh By Herbert Lash NEW YORK, May 21 (Reuters) - Global equity markets rose on Tuesday, led by chipmakers and companies exposed to Asia, after the United States temporarily eased trade restrictions imposed on China's Huawei Technologies, while the dollar rose on a flight to quality.

JSE closes softer after muted trading session

The JSE traded mostly flat on Tuesday as it struggled for direction following a mixed trading session in Asia. Other market segments seemed to have warded off the concerns surrounding the ban on Huawei by Google, as they tracked marginally higher. In Europe the trend was mostly firmer while in Asia the Shanghai Composite Index gained 1.35% and in Hong Kong, the Hang Seng dropped 0.47%.

Consolidating your backup and recovery makes sound business sense

The majority of enterprises today are burdened with multiple backup and data protection solutions. These options often become complicated, hard to manage and expensive to maintain. " data-lazyauto="true"> Mike Rees, Territory Account Manager: South Africa at Commvault Consequently, such a disparate environment results in increased operational complexity, higher costs, the inability to recover data quickly, an increased risk of non-compliance and lack of flexibility.

Stock Watch Picks - 21 May 2019

Jean Pierre Verster from Fairtree chose THQ Nordic as his stock pick of the day and Graeme Körner from Körner Perspective chose Sasol Limited.

Business News - 21 May 2019

Another recession could be on the cards for South Africa, Reinet's investment in British American Tobacco continues to weigh and Coronation Fund Managers has cut its interim dividend by more than a quarter..

Smile Telecoms Appoints Ex-MTN South Africa As New Group CEO

Given the extent of the opportunity and the significance to Smile, Farroukh will spend the majority of his executive time in Nigeria. - May 21, 2019 Facebook Twitter Linkedin WhatsApp Pinterest Email Print Telegram Ahmad Farroukh Ahmad Farroukh, a former CEO of MTN South Africa, has been appointed as Group Chief Executive Officer of Smile Telecoms. Farroukh is currently group executive director operations at Smile.

Business Rwanda to launch fertilizer plant

The Rwandan government has signed a joint fertilizer partnership deal with two private companies, Agro Processing Trust Corporation and Moroccan Company, OCP Africa to build a new fertiliser making plant which will help reduce costs and increase the supply of fertilizer. This is expected to kick off before the year runs out. The facility is expected to blend not less than 100,000 tonnes of fertilisers, and when compared with Rwanda's annual demand for fertilisers at 53,000 tonnes, the country will be having a surplus of fertilisers, which will possibly expose the country to the exportation of fertilizers.

Business lessons learnt through failure

Entrepreneurship is about taking calculated risks and playing the odds; but if you keep at, success is inevitable. Entrepreneurship is about taking calculated risks and playing the odds; but if you keep at, success is inevitable. BUSINESS NEWS - Below, I share the lessons I learned through my many failures in the hopes that other aspiring businessmen and women will feel inspired enough to take the next step towards achieving success.

De Beers loses its sparkle as rough diamond sales decline

JOHANNESBURG Anglo American subsidiary De Beers said on Tuesday rough diamond sales for the fourth cycle of 2019 amounted to $415 million (R6 billion) from  $581m in the third cycle and compared with $554m during the same period last year."Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty and as we enter a seasonally slower period for the 21 May 2019 Indian factories closing temporarily for the traditional holiday period" De Beers chief executive Bruce Cleaver said.De Beers specialises in diamond exploration mining retail trading and industrial diamond manufacturing sectors. The company is active in openpit largescale alluvial coastal and deep sea mining.De Beers is 85 percent owned by Anglo American with the rest of the shareholding held by the government of Botswana. It mines in operations in Botswana Canada Namibia and South Africa.In South Africa it mines through De Beers Consolidated Mines in which its empowerment partner Ponahalo has a 26 percent shareholding.

Nabantu: An imminent evolution contributing to a new era of business

" data-lazyauto="true"> True North Coaching and Consulting embraces the evolutionary compass, and heads into a brand-new direction. 11 April 2019, Hyde Park House of Events was home to the official relaunch and new brand, "Nabantu" (formerly known as True North Coaching and Consulting). The event welcomed an intimate and exclusive guest attendance of South Africa's top company heads and executives to celebrate and introduce the company's new corporate identity.

PwC Great Zuurberg Trek Boasts A Sold Out Show in 2019

The race village at the Zuurberg Mountain Inn boasts four star accommodation in the hotel and luxury camping in canvas dome tents. Photo by Shayne Minott. The 2019 PwCGreat Zuurberg Trek, which takes place from the 24 th to the 26 th of May in the Zuurberg Mountains of the Eastern Cape, boasts a sold out field of stage race connoisseurs.

How your business can stay ahead of cybersecurity issues

Securing data is an ongoing battle which needs proactive rather than reactive actions to stay ahead of the curve. This is according to Yemi Saka, Partner at Deloitte Nigeria. He spoke to CNBC Africa's Wole Famurewa on the challenges of cybersecurity and the need for regulators to stay ahead when it comes to technology boom.

Acapella group, Just 6 let their voices do the talking

MBOMBELA - Just 6 wowed the crowd at the annual Sappi Mother's Day Concert which was held at the Lowveld National Botanical Garden. The band added a whole new dimension to making music by using their voices to produce sounds that would normally be made be a musical instrument. Kwande Cakata, Mtha Hospas and Nkosie Hospas from Just 6.

Bidcorp expects higher food inflation in SA

The food-producer industry is struggling to pass on higher costs to SA's consumers Global food-services group Bidcorp expects rising food price inflation in SA, where food producers and retailers are grappling with higher costs and low selling price increases. On Monday, Pioneer Foods' half-year results showed that the food-producer industry is struggling to pass on higher costs to SA's consumers, who are contending with higher fuel prices and an increase in VAT. Pioneer said earnings fell in the six months to end-March as costs rose faster than sales partly because of low food price inflation. But Bidcorp, which makes and distributes food products to restaurants and other clients, said its SA business "is showing improvement despite weak economic conditions". "The food inflation trajectory is up, which will start to assist Bidfood," it said. The group said its overall results in SA in April "were much improved" compared to a year before. While China and SA remained tough markets, "monthly performance is starting to improve against last year". Globally, trading "continues to be positive" in local-currency terms, it said. "Our large UK, European and Australasian businesses continue to perform well." Meanwhile, Bidcorp said acquisition opportunities were being limited by "unrealistic" valuations from sellers "at this stage of the cycle". This meant fewer bolt-on acquisitions had been concluded. In the three months to March, Bidcorp's Bidfood UK business bought Punjab Kitchen, a niche ready-meals business, for R291m. Bidcorp said it was in "advanced negotiations" to sell its Bestfood Logistics unit in the UK to a "reputable international buyer". The deal would probably be closed in the first quarter of the 2020 financial year. hedleyn@businesslive.co.za.

EMERGING MARKETS-Emerging stocks, FX soften as trade war concerns persist

* China shares close higher on Huawei relief * India shares fall after hitting record highs* Turkey's lira down as investors weigh forex move By Susan Mathew May 21 (Reuters) - Emerging market shares on Tuesday gave up early gains logged on some relief on the Sino-U.S trade front, while developing world currencies also weakened on fears the protracted trade war may have already begun to impact Asian economies. Currencies in the developing world .MIEM00000CUS fell across the board as poor economic growth data from Singapore and Thailand dented sentiment and boosted appetite for the dollar. FRX/MSCI's index of emerging market shares .MSCIEF gave up gains of up to 0.6% to trade flat, even as mainland China shares - index-heavyweights - closed more than 1% higher after Washington temporarily eased trade restrictions imposed last week on China's Huawei. .SS MKTS/GLOB The trade relief gave a fillip to stocks of other trade reliant economies such as South Korea .KS11 and Taiwan .TWII as well as to commodity giant South Africa's blue-chips index .JTOPI , but some others fell. Shares in Turkey .XU100 fell 0.8% and the lira TRY= slipped 0.6% after the country's banking watchdog imposed a settlement delay for FX purchases by individuals of more than $100,000.

Coca-Cola to retain majority stake in Africa bottling business

The Coca-Cola Company has announced that it will maintain its majority stake in Coca-Cola Beverages Africa, abandoning plans to refranchise its Africa bottling business. " data-lazyauto="true"> Image credit: CCBA With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019, in accordance with U.S. accounting standards.

PE Business News: Henry Schein Chairman & CEO Stanley Bergman Shares Life Lessons with Meharry Graduating Class

PE : Henry Schein Chairman & CEO Stanley Bergman Shares Life Lessons with Meharry Graduating Class : Promote your business on BuyPE and MyPR. Henry Schein Chairman & CEO Stanley Bergman Shares Life Lessons with Meharry Graduating Class: (Photo: Business Wire) Sharing stories from his life as illustrations … s earliest learnings from his years growing up in the South End neighborhood of Port Elizabeth, South Africa. "The process of … Source: […] - MyPE News Submit and get free press releases here: MyPR Free Press Release .

From village girl to business owner: Lady takes over wine industry

Siwela Masoga is causing a stir in the wine industry. The 28-year-old black female wine-maker is conquering a white male-dominated sector and is determined to create a space for fellow South Africans to join her on a wine revolution. PAY ATTENTION: Click "See First" under the "Following" tab to see Briefly.co.za News on your News Feed! Masoga wants craft local wines, with locally inspired names and labels, to be paired with South African food, rather than Western cuisine.

Moody's assigns first-time local currency deposit ratings of B1 to Stanbic…

Moody's Investors Service (« Moody's ») has today assigned B1/Not Prime local currency long-term and short-term deposit ratings and B3/Not Prime foreign currency long-term and short-term deposit ratings to Stanbic Bank Uganda Limited (Stanbic Uganda). Stanbic Uganda's B3 foreign currency deposit rating is constrained by Uganda's foreign currency deposit rating ceiling of B3. Moody's also assigned a counterparty risk assessment of Ba3(cr)/Not Prime(cr) and a counterparty risk rating of Ba3/Not Prime.

Chef Jamie Oliver's UK restaurant business goes into administration

British celebrity chef Jamie Oliver's restaurant chain went into administration on Tuesday, threatening around 1,300 jobs in the latest blow for Britain's high street. Oliver, 43, a well-known figure in Britain and beyond for his popular TV shows and top-selling cookery books, founded his Jamie's Italian brand of high street restaurants in 2008. "I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business for over a decade," he said.

Weidmüller's u-mation system embraces the IoT digitally connected world

Weidmüller's u-mation system is more than just about automation, it is a connected digital solution for a diverse range of businesses. That's because u-mation is an automation hardware and software solution that embraces the Internet of Things (IoT) philosophy in an increasingly digitally connected world. In South Africa, Phambili Interface is the exclusive distributor of Weidmüller's German engineered quality connectivity and interface products in the areas of Industrial Electrical, Automation, Instrumentation and Renewable Energy, amongst others.

MMI makes good progress in third quarter

Highlights: • Diluted normalised headline earnings increased by 19% to R2.4billion • Diluted normalised headline earnings per share increased by 26% • Group's present value of new business premiums (PVNBP) increased by 11% to R40.6bn • Reset and Grow strategy on track to meet financial targets of between R3.6 billion and R4 billion by 2021 • Momentum Corporate delivered outstanding growth in PVNBP of 62% MMI Holdings (MMI), today issued an operating update for the third quarter of the financial year, indicating that diluted normalised headline earnings increased 19% to R2.4 billion relative to the prior period. Diluted normalised earnings per share increased 26% - reflecting the positive impact of the share buy-back programme and the group's Reset and Grow strategy. The PVNBP for the nine months was R40.6bn for the group, an increase of 11% from the prior period.

More evidence of Matjila overriding the PIC's investment processes

Former chief executive of the Public Investment Corporation (PIC) Dan Matjila signed his approval for the investment of R3 billion in Iqbal Survé's Sagarmatha Technologies prior to the deal going through the PIC's investment committees. Survé's Sekunjalo Investment Holdings had approached the PIC to participate in its listing of Sagarmatha on the JSE. The company was hoping to raise between R3 billion and R7.5 billion at R39.62 per share.

Rhodes Food Group reports slight decline in net profit

Rhodes Food Group, which makes Bull Brand corned meat and Bisto gravies, says profit after tax was slightly down in the six months to end-March despite better sales. The group made a net profit of R80.2m, from R80.9m previously, while turnover rose 9.3% to R2.7bn. Margins were slightly weaker because of lower international selling prices of deciduous canned fruit products as a result of "drought-related quality issues", the group said. Profits were also hit by once-off costs from the relocation of the group's pulps and purees plant from Wellington to Groot Drakenstein. "The business experienced further margin pressure due to low levels of inflation," it said. On Monday, Pioneer Foods' half-year results showed that the industry is struggling to pass on higher costs to consumers. Rhodes Food Group said margin pressures were partially offset by currency movements. The company said its long-life foods segment increased turnover by 13.4% thanks mainly to better volumes. Group headline earnings increased by 2.1% to R84.1. "The group anticipates a strong second-half performance despite consumer spending being expected to remain under severe pressure in the months ahead," it said. The deciduous fruit production season was complete. "Initial assessments reflect an improvement in the quality of the fruit after being affected by the drought for the past two years. Volumes were, however, slightly lower than the previous year." With the group's "major capital investment programme" now complete, it was focused on generating returns on capital invested "and extracting benefits to improve margins". Rhodes Food Group said it planned to spend R80m on capital investment in the second half of the financial year. "Key projects include the expansion of warehouse capacity at the fruit juice plant, ongoing development of the new pineapple plantations in Eswatini and the completion of the infrastructure upgrade at Groot Drakenstein," it said. hedleyn@businesslive.co.za.

Zimbabwe got loan from Afreximbank using platinum collateral

Zimbabwe secured a $500-million loan from the African Export-Import Bank to try and stabilize its currency market by offering platinum production as collateral, a person familiar with the details of the agreement said. The Reserve Bank of Zimbabwe on Saturday announced on Twitter that the money would be released into the foreign-exchange market from Monday, without saying where it came from. Finance Minister Mthuli Ncube later said in a separate tweet that the funds were secured from "international banks," without identifying them.

UK Stocks-Factors to watch on May 21

May 21 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 21 points higher at 7,332 on Tuesday, according to financial bookmakers.* HSBC: HSBC Holdings HSBA.L plans to add more than a 1,000 jobs this year at its technology development centres in China, as the Asia-focused lender seeks to bolster its presence in the world's second largest economy. GLENCORE: The London Metal Exchange (LME) has dismissed a complaint from miner and commodity trader Glencore GLEN.L over its inability to take fast delivery of aluminium from warehouses owned by ISTIM UK in Port Klang, Malaysia, two sources familiar with the matter said on Monday. SOLGOLD: SolGold SOLG.L is in talks with financiers keen to invest in its Ecuadorian copper-gold prospects and mining major BHP BHPB.L could increase its stake in the company, SolGold's chief executive said on Monday.

Critical steps for a successful BI implementation

Decision-makers understand that data drives the digital business. And one of the most efficient ways to extract value out of this is through business intelligence (BI). But in a real-time world, companies can ill afford to spend months on an implementation.

Is your business ready for the risks it could face?

Businesses operate in a time of unprecedented volatility across economics, demographics and geopolitics. More than ever companies need to explore new ways to cope with evolving and inter-related complexities in a challenging business environment. Insurance brokerage and risk advisor Aon South Africa has surveyed the risk and insurance landscape and reveal their take on the key risks that businesses need to focus on to ensure growth and stability: * Risk readiness is falling, but volatility is growing - Businesses are slow to implement new risk and insurance programs for evolving risks such as cyber and political risk.

WATCH: Stock picks —Lockheed Martin and Adapt IT

Gary Booysen from Rand Swiss chose Lockheed Martin as his stock pick of the day and Ashraf Mohamed from Arqaam Capital chose Adapt IT. Booysen said: "Lockhead Martin is one of the world's biggest defence contractors and it essentially has a long-term pipeline with the US government that looks very attractive. Defence contractors also trade at a discount to the overall market, so Lockheed Martin is trading between 13 and 14 times earnings, which I think is going to give it a little bit of stability." Mohamed said: "Adapt IT is a beneficiary of the EOH debacle, especially when it comes to corporates. Government is not affected that much yet because of all the tender processes.

Digital transformation isn't about branding, it's about your business

Ten years ago, the JSE was dominated by big mining houses , with BHP Billiton at the top of the pile. Today, almost everyone else is dwarfed by Naspers, a media house that made some early bets on digital technologies and rode a wave of disruption to become one of the world's largest internet companies. Over the years, Naspers has digitally transformed every aspect of its business, sometimes through judicious acquisitions and sometimes through internally fostered innovation.

REINET INVESTMENTS S.C.A - Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend

RNI 201905210005A Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend Reinet Investments S.C.A. (Incorporated in Luxembourg) ISIN: LU0383812293 Code: RNI COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2019 AND PROPOSED DIVIDEND The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the year ended 31 March 2019. Key financial data - Reinet's net asset value of EUR 4.8 billion reflects a compound return of 10 per cent per annum in euro terms, since March 2009, including dividends paid - The net asset value at 31 March 2019 reflects a decrease of EUR 297 million or 5.8 per cent from EUR 5 127 million at 31 March 2018 - Net asset value per share at 31 March 2019: EUR 25.30 (31 March 2018: EUR 26.17) - Share buyback programme: 5.02 million shares repurchased as at 31 March 2019 for a consideration of EUR 68 million - Commitments totalling EUR 223 million in respect of new and existing investments made during the year, and a total of EUR 250 million funded during the year - Dividends from British American Tobacco during the year amounted to EUR 148 million - Reinet dividend of some EUR 35 million, or EUR 0.18 per share, paid during the year - Proposed Reinet dividend of EUR 0.19 per share payable after the 2019 annual general meeting Reinet Investments S.C.A.

Pioneer shares hit by 14% drop in earnings

JOHANNESBURG Pioneer Foods plummeted more than 15 percent in early trade on the JSE after the packaged goods company reported a 14 percent decline in earnings for the six months to endMarch.Pioneer said its headline earnings crashed to R509.1million from R620.3m last year on the back of higher operating costs. The news sent shock waves to other big food companies on the JSE with Tiger Brands shedding 3.8percent of its share value while AVI lost 2.68percent.Chief executive Tertius Carstens said factors such as fuel price increases and maize shortages had a negative impact on the results during the period. Increased operating costs were driven by the considered investment in future growth capabilities as well as the higher cost of fuel impacting distribution and energy related cost elements Carstens said.

Banks boost Saudi, all major Gulf markets gain

May 21 (Reuters) - Saudi Arabia's stock market rose on Tuesday, boosted by its banking shares, while all major Gulf markets rebounded from recent sell-offs, in line with Asian shares. Saudi's index increased 0.6% in early trade, with Al Rajhi Bank adding 1.2% and Saudi Basic Industries up 0.9%. MSCI last week said it would include MSCI Saudi Arabia in its emerging-markets index, effective May 28, a move that could draw billions of dollars into the market. The index is up 8.8% so far this year in a rally led by foreign investors. "The index inclusion story is (the) dominant theme ... for foreign investors on Saudi's equity market," said Lighthouse Research. In the week ending May 16, foreign investors bought a net 3.9 billion riyals ($1.04 billion) of Saudi shares, nearly four times their average weekly net purchases since the start of 2019 and the 20th consecutive week of net buying, added Lighthouse. Abu Dhabi's index jumped 1.1%, led by a 1.7% increase in First Abu Dhabi Bank. Dana Gas was up 1.8% after the energy firm said it had started drilling operations at Merak-1 well, offshore Egypt. Qatar's index gained 0.5%, with Mesaieed Petrochemical Holding jumping 7.6%. The stock has been surging recently after it was included in MSCI's index. Since May 14, the stock has added 53%. The Dubai index edged up 0.1%.

Reinet final results March 2019

Total income for the year increased to EUR269 million (EUR262 million). Loss attributable to shareholders came to EUR145 million (loss of EUR843 million). Furthermore, headline loss per share came to EUR0.74 per share (headline loss of EUR4.30 per share).

Another good month for equities - 4 positive months in a row

The first four months of 2019 have been strong for global and local equities. After gaining 4.2% in April, the ALSI is up 12.5% for the year. Globally, things are also looking good, with a number of markets recovering most of the losses incurred during the latter part of 2018.

Global Shares Slide as Worries About Huawei Fallout Escalates

South Africa The JSE fell on Monday, weighed down by risks in global markets. Local losses were led by Naspers (JO:NPNJn) that fell 3.29%, tracking losses in Hong Kong-listed Tencent, as investors shied away from technology shares. The All Share closed 1.01% in the red.

EMERGING MARKETS-Emerging stocks, FX soften as trade war concerns persist

* China shares close higher on Huawei relief * India shares fall after hitting record highs * Turkey's lira down as investors weigh forex move By Susan Mathew May 21 (Reuters) - Emerging market shares on Tuesday gave up early gains logged on some relief on the Sino-U.S trade front, while developing world currencies also weakened on fears the protracted trade war may have already begun to impact Asian economies. Currencies in the developing world fell across the board as poor economic growth data from Singapore and Thailand dented sentiment and boosted appetite for the dollar. MSCI's index of emerging market shares gave up gains of up to 0.6% to trade flat, even as mainland China shares - index-heavyweights - closed more than 1% higher after Washington temporarily eased trade restrictions imposed last week on China's Huawei.

Amplats Urges Fired Miners To Appeal Dismissals

More than 600 workers who were fired from Anglo American (LON:AAL) Platinum (Amplats) for participating in an unprotected strike have until Tuesday to appeal their dismissals. The group, who are members of the General Industrial Workers Union of South Africa (Giwusa), make up half the underground staff at Mototolo mine in Limpopo. Amplats said it was left with no choice but to sack them after they violated a court interdict and refused to return to work. It's understood they were striking over medical aid schemes. Amplats spokesperson Jana Marais said: "The key thing for us is that we really urge them to use the opportunity to appeal. If they do want an opportunity to get their jobs back, they absolutely have to take part in the appeal process." Giwusa has not been available for comment. EWN The post appeared first on iAfrica.com..

Pioneer shares hit by 14% drop in earnings

Pioneer Foods plummeted more than 15 percent in early trade on the JSE after the packaged goods company reported a 14 percent decline in earnings..

Underground WiFi a gamechanger for Anglo American

Anglo American has invested R10 million in the roll out of underground WiFi initiatives aimed at improving productivity and safety for hundreds of miners at its coal mining operations in Mpumalanga.Goedehoop Colliery Mines in Mpumalanga recently became the coal divisions second operation to introduce safe wireless communication infrastructure and smartphones at its four million tonne per annum Simunye Shaft.Zibulo Colliery was the first Anglo American Coal South African mine to introduce the technology in 2016.According to the mining giant the introduction of underground WiFi has given it a competitiveedge through enabling twoway communications between miners working underground and staff on the surface improved tracking of equipment and miners and Internet of things (IOT) connections.The introduction of underground WiFi is a gamechanger says Anglo American technician superintendent Edgar Simfukwe.It allows our miners to communicate more easily thereby making mines more productive. The main benefit is that breakdowns can be reported and resolved faster; in some cases by contacting equipment manufacturers on the spot.Were working in an environment where safety and productivity are paramount. Employees can send photographs and video clips to aid troubleshooting.

GLOBAL MARKETS-Global stocks gain as U.S. eases Huawei restrictions

* European stocks with Asian exposure, chipmakers gain * Autos, suppliers up as much as 1.1%.* In Germany, Daimler up on cost-cutting report * Sterling below $1.27 for first time since mid-Jan By Tom Arnold LONDON, May 21 (Reuters) - Stocks markets gained on Tuesday, with chipmakers and stocks exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China's Huawei.In Europe, the broader Euro STOXX 600 .STOXX edged up 0.3%, with Germany's DAX .GDAXI rising 0.6%, while France's CAC 40 .FCHI climbed 0.2%.At the close, China's Shanghai Composite index .SSEC was up 1.23%, while the blue-chip CSI300 index .CSI300 ended 1.35% higher. U.S. President Donald Trump's government added Huawei to a trade blacklist last week, escalating trade tensions between the world's two biggest economies. Washington then allowed Huawei Technologies Co Ltd to purchase American-made goods to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19. "The Huawei extension is in some sense providing a relief rally as it eases the worst fears of market participants that we are drifting towards a fully-fledged trade war," said Aberdeen Standard's head of global strategy, Andrew Milligan. Chipmakers Infineon IFXGn.DE and STMicro STM.MI were up 1.4 to 3.5%, and the tech sector .SX8P rising more than 1% after losing almost 3% on Monday. The autos and suppliers sector .SXAP was another top gainer, up as much as 1.1%. In London, heavyweights HSBC HSBA.L , Prudential PRU.L and Standard Chartered STAN.L boosted the blue-chip index as markets on hopes if an easing in the trade tensions. In Asia, gains in heavyweight Samsung Electronics 005930.KS helped South Korea's KOSPI stock index .KS11 close up 0.3%. The MSCI index of world shares .MIWD00000PUS , which tracks shares in 47 countries, was little changed at 0.01%. "Equity markets remain hostage to developments in the ongoing US-China trade battle," said Rupert Thompson, head of r

NTVUganda has added KCCA moves to act against those using streets children for money begging business video

KCCA moves to act against those using streets children for money begging business The KCCA council meeting together with KCCA technical team have passed "the Kampala Child Protection Ordinance 2019" meant to stop people who transport children from rural areas to urban areas with the aim of engaging them in petty businesses and money begging business along streets. According to Samuel Sserunkuma the acting deputy executive director of KCCA, many developments in the city have been vandalized by the street children. #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 http://bit.ly/1bbEIWm.

Entrepreneur's survival toolkit from the banker to business owners

Times are tough for South African business owners, the toughest in the nine years that Mercantile CEO Karl Kumbier has been focusing on banking entrepreneurs. This article is exclusive to Biznews Premium. Members please login  here.

UK business group condemns Labour nationalisation plans, Brexit delay

LONDON, May 21 (Reuters) - Plans by Britain's opposition Labour Party to nationalise utilities including the country's electricity grid will damage investment as well as hurting many small shareholders, one of the country's main business groups warned on Tuesday. Last week, Labour published plans to renationalise the country's 60-billion-pound ($77 billion) energy networks, taking companies such as National Grid, Scottish Power and SSE into public ownership. Utilities warned this would damage investment, and on Tuesday the Confederation of British Industry's president, John Allan, said he feared the impact would spread beyond the businesses directly affected. "Labour's proposals are not just a threat to these industries but to investment in our country at a time when it's most needed, and above all to that essential partnership between business and government," he told the CBI's annual dinner. Business investment fell every quarter last year due to uncertainty about how Britain will leave the European Union, and most economists think it will be lacklustre again in 2019. However, Labour's would-be finance minister, John McDonnell, said the CBI was engaged in "disappointing scaremongering". "Across the world, public ownership of basic utilities such as water and energy are a normal part of the 'essential partnership' between business and government, providing affordable and reliable services. It is time the CBI caught up," he said. The CBI also criticised politicians for failing to have agreed on a plan for Brexit over the past year, and called on parliament to back the latest version of an exit deal unveiled by Prime Minister Theresa May earlier on Tuesday. "Parliament must seize that opportunity. If not, the uncertainty will become far more acute," Allan said. "It's not for business leaders to tell politicians when to trigger democratic events.

Glencore to supply cobalt feedstock to restart First Cobalt refinery in Canada

May 21 (Reuters) - Glencore Plc will supply cobalt feedstock to restart First Cobalt Corp's refinery in Canada, the companies said in a statement on Tuesday. Glencore's unit plans to provide feedstock for the refinery, which is expected to result in an annual production of about 2,000 to 2,500 tonnes per annum of cobalt in sulfate from the refinery. The First Cobalt refinery in Ontario, 600 km from the U.S.

SA's business events capabilities on display in Frankfurt

A strong contingent of South African business events, conferencing and meetings products will be on display for the next three days at one of the world's premier Meetings, Incentives, Conference and Events (MICE) exhibition shows, IMEX Frankfurt. The annual IMEX Frankfurt show will see over 3 500 products in the exhibition halls while around 5 100 buyers will walk the floors in search of great deals and unique products in this sector of the tourism industry. South Africa has representation across the board from hotels, airlines, destination management companies, provincial tourism agencies, provincial convention bureaus, professional conference organisers as well as selected SMME's from South African Tourism's and the National Department of Tourism's Hidden Gem's programme.

INTU PROPERTIES PLC - Directorate NED change

Wrap Text Directorate - NED change INTU PROPERTIES PLC (Registration number UK3685527) ISIN Code: GB0006834344 JSE Code: ITU LEI: 213800JSNTERD5CJZO95 intu properties plc ("intu" or the "Company") Directorate - NED change intu announces that Adèle Anderson, Senior Independent Non-Executive Director and Chair of the Audit Committee, has notified the Board that she will be standing down from the Board with effect from Friday 25 October 2019. Accordingly a search for a new non-executive Director has commenced. 21 May 2019 ENQUIRIES Susan Marsden Group Company Secretary +44(0) 207 960 1200 JSE Sponsor Merrill Lynch South Africa (Pty) Limited Date: 21/05/2019 04:30:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

OLD MUTUAL LIMITED - Additional Disclosures Directors Interests and Managed Separation Incentive Plan

Wrap Text Additional Disclosures - Directors' Interests and Managed Separation Incentive Plan Old Mutual Limited Incorporated in the Republic of South Africa Registration number: 2017/235138/06 ISIN: ZAE000255360 LEI: 213800MON84ZWWPQCN47 JSE Share Code: OMU NSX Share Code: OMM MSE Share Code: OMU ZSE Share Code: OMU ("Old Mutual" or "the Company") Ref 22/19 21 May 2019 ADDITIONAL DISCLOSURES - DIRECTORS' INTERESTS AND MANAGED SEPARATION INCENTIVE PLAN (MSIP) Shareholders are advised that Old Mutual Limited (OML) has published further disclosure related to: (i) Directors' Interests - in terms of paragraph 8.63(c) of the Johannesburg Securities Exchange (JSE) Listing Requirements; and (ii) Old Mutual Emerging Markets MSIP. Old Mutual Emerging Markets was a division of Old Mutual plc up to the listing of OML on 26 June 2018. This information is available on https://www.oldmutual.com/investor- relations/reporting-centre/reports Sponsors: JSE Merrill Lynch South Africa (Pty) Limited Namibia PSG Wealth Management (Namibia) (Proprietary) Limited Zimbabwe Imara Capital Zimbabwe plc Malawi Stockbrokers Malawi Limited Enquiries: Investor Relations Sizwe Ndlovu T: +27 (0)11 217 1163 Head of Investor Relations E: tndlovu6@oldmutual.com Communications Tabby Tsengiwe T: +27 (11) 217 1953 Head of Communications M: +27 (0)60 547 4947 E: ttsengiwe@oldmutual.com Notes to Editors About Old Mutual Limited Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 17 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche business in Asia.

Ex-Naspers director s widow relieved couple found guilty of murder

Cape Town - Judge Taswell Papier found Nomfundo Mtshawu and Vuyolwethu Mgemane guilty of the murder of former Naspers financial director Eric Wiese in the Western Cape High Court on Tuesday. The Gugulethu couple, who have a child, had attacked Wiese, 80, who retired in 1998, in his Higgovale home on August 4, 2017. They tied him up and stole items to the estimated value of R25 000.

ExNaspers directors widow relieved couples found guilty of murder

Cape Town Judge Taswell Papier found Nomfundo Mtshawu and Vuyolwethu Mgemane guilty of the murder of former Naspers financial director Eric Wiese in the Western Cape High Court on Tuesday.The couple who have a child had attacked Wiese 80 who retired in 1998 in his Higgovale home on August 4 2017.They tied him up and stole items to the estimated value of R25 000. His death was attributed to "manual strangulation".Expressing relief his widow Sannie Wiese who was married to the deceased for 52 years told News24: "Our legal system still works and I am satisfied."She had been out shopping for her sons birthday celebration at the time of the incident and returned to find the house in disarray and drops of blood on the floor. After calling a security company they found his body next to a bed.Mgemane previously admitted to strangling Wiese with a tie "because he was resisting".

Interview: IoT.nxt CEO Nico Steyn

Nico Steyn In this episode of the podcast, Duncan McLeod interviews IoT.nxt co-founder and CEO Nico Steyn about the recently announced acquisition by Vodacom Group of 51% of the company. Steyn explains how the deal came about, what IoT.nxt will use the capital injection to do and what's next for the Centurion, Pretoria-headquartered Internet-of-things platform start-up. In the podcast, Steyn talks about why he quit his corporate job at Pinnacle to co-found IoT.nxt, its funding from Talent10, its expansion into Europe and more recently the US, and its plans for further globalisation.

Bailed after 4 years awaiting trial in jail

An Eastern Cape armed robbery accused was given bail of R5,000 after being held in police custody for more than four years. Bongani Mququ, 35, has been denied bail twice since his November 2014 arrest. He finally walked out on bail from the Grahamstown high court on Thursday.

Trade war hits Asian markets, pushing dollar to 4-week high

(Recasts; adds analyst quotes; updates prices; changes dateline, previous LONDON) By Kate Duguid NEW YORK, May 21 (Reuters) - Signs that Asia is already feeling the pinch from a trade conflict between the United States and China pushed the U.S. dollar to a four-week high on Tuesday, while higher U.S. Treasury yields helped the move. Data showed economic growth in Singapore was its lowest in nearly a decade in the first quarter, while in Thailand it was at its lowest in four years, raising worries that major Asian economies will be hurt by global trade tensions. "Global growth prospects seem to be getting gloomier by the day," wrote Hans Redeker, global head of foreign exchange strategy at Morgan Stanley.

Daly News Brief

Ramaphosa Not Losing Sleep Over Finalizing New Cabinet President Cyril Ramaphosa said that he was not losing sleep over finalising his new Cabinet. Ramaphosa was speaking after the first meeting of the African National Congress (ANC)'s parliamentary caucus on Tuesday. Ramaphosa is set to be elected president of the country at the first sitting of the National Assembly on Thursday and to announce his Cabinet soon after his inauguration in Pretoria on Saturday.

Should investors be concerned about Naspers' control structure?

Earlier this month Caxton raised questions about Nasper's complex control structure. At a Competition Tribunal hearing it contended that an enquiry was needed to determine who directs the company's strategy. The Tribunal ultimately rejected Caxton's application to intervene in its hearings about the merger between Naspers' controlled Media24 and Novus, as the issues about Naspers' control structure were not relevant to the proposed transaction. However, the question remains whether investors should be more concerned about who controls Naspers. The essential question is whether Naspers' shareholders are able to exercise meaningful oversight over the company.

PSG GROUP LIMITED - Dealing In PSG Shares By Associates Of Directors

Wrap Text Dealing In PSG Shares By Associates Of Directors PSG Group Limited Incorporated in the Republic of South Africa Registration number: 1970/008484/06 JSE Limited ("JSE") share code: PSG ISIN code: ZAE000013017 ("PSG") DEALING IN PSG SHARES BY ASSOCIATES OF DIRECTORS In compliance with rules 3.63 to 3.74 of the JSE Listings Requirements, the following information is disclosed: 1. NAMES OF DIRECTORS JJ Mouton (A) PJ Mouton (B) COMPANY OF WHICH WE ARE PSG Group Limited DIRECTORS STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive (A) Executive (B) TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATES OF TRANSACTIONS 17 May 2019 (1) 20 May 2019 (2) CENTS PER SHARE Low: 24 740 (1) High: 24 970 (1) VWAP: 24 861 (1) Low: 24 930 (2) High: 25 100 (2) VWAP: 25 050 (2) NUMBER OF SECURITIES TRANSACTED 75 814 (1) 14 186 (2) TOTAL RAND VALUE OF SECURITIES R18 848 345.98 (1) R3 553 619.09 (2) NAME OF ASSOCIATE Jan Mouton Beleggings Proprietary Limited RELATIONSHIP WITH DIRECTORS The director is a (A)-(B) trustee and discretionary beneficiary of the sole shareholder of the as

Analysis: We want bread, but we want leadership too

Here is the reality of South Africa's economy now. A friend of mine is in the grain business. He has a small company that buys from farmers and sells to the large food producers.

UPDATE 2-Vedanta, KCM seek urgent Zambia talks, court appoints liquidator

* Currency falls on Vedanta news * Adds to concerns about increased tax take (Updates with Vedanta statement, currency movement, details) By Chris Mfula LUSAKA, May 21 (Reuters) - Mining company Vedanta and its Zambian unit Konkola Copper Mines (KCM) said they were seeking urgent talks with the Zambian president following a high court order on Tuesday to appoint a provisional liquidator. The news has rattled foreign investors already nervous governments in central African countries are seeking a much bigger share of resource revenues, which they say will discourage investment the region desperately needs. A day after President Edgar Lungu announced a plan to strip KCM of its mining licence and bring in new investors, a high court document seen by Reuters, named Zambian law firm Lungu Simwanza & Company to oversee KCM.

Smile Telecoms appoints new CEO

Pan-African telco Smile Telecoms, with operations in Nigeria, Uganda, Tanzania and the Democratic Republic of the Congo, has appointed Ahmad Farroukh as group chief executive officer and Irene Charnley as deputy chairman, respectively, effective 1 June 2019. According to a statement released by the company, Farroukh, who currently serves as Smile's group executive director operations, "is a seasoned and experienced telecoms executive with a distinguished record of commercial and operational success." "Farroukh's vast experience extends to executive management positions at Investcom Holdings and the MTN Group (where he served as CEO of MTN Nigeria, MTN South Africa and Group Chief Operating Executive, responsible for 19 countries) and immediately prior to joining Smile, as CEO of Mobily, Saudi Arabia's second largest telecommunications operator. Given the extent of the opportunity and the significance to Smile, Ahmad will spend the majority of his executive time in Nigeria." The statement continues that Smile Telecoms founder and shareholder, Irene Charnley has led the company's innovation and pioneering of Africa's first 4G LTE network infrastructure, using low band spectrum in 800MHz band.

ExNaspers directors widow relieved couple found guilty of murder

Cape Town Judge Taswell Papier found Nomfundo Mtshawu and Vuyolwethu Mgemane guilty of the murder of former Naspers financial director Eric Wiese in the Western Cape High Court on Tuesday.The couple who have a child had attacked Wiese 80 who retired in 1998 in his Higgovale home on August 4 2017.They tied him up and stole items to the estimated value of R25 000. His death was attributed to "manual strangulation".Expressing relief his widow Sannie Wiese who was married to the deceased for 52 years told News24: "Our legal system still works and I am satisfied."She had been out shopping for her sons birthday celebration at the time of the incident and returned to find the house in disarray and drops of blood on the floor. After calling a security company they found his body next to a bed.Mgemane previously admitted to strangling Wiese with a tie "because he was resisting".

Ex-Naspers director's widow relieved couple found guilty of murder

Cape Town - Judge Taswell Papier found Nomfundo Mtshawu and Vuyolwethu Mgemane guilty of the murder of former Naspers financial director Eric Wiese in the Western Cape High Court on Tuesday. The Gugulethu couple, who have a child, had attacked Wiese, 80, who retired in 1998, in his Higgovale home on August 4, 2017. They tied him up and stole items to the estimated value of R25 000.

Daly News Brief

Ramaphosa Not Losing Sleep Over Finalizing New Cabinet President Cyril Ramaphosa said that he was not losing sleep over finalising his new Cabinet. Ramaphosa was speaking after the first meeting of the African National Congress (ANC)'s parliamentary caucus on Tuesday. Ramaphosa is set to be elected president of the country at the first sitting of the National Assembly on Thursday and to announce his Cabinet soon after his inauguration in Pretoria on Saturday. State Concludes Probe Into Sexual Assault Case Against Bryanston High School Sports Coach The State says it has concluded its investigations in the sexual assault case against a former Bryanston High School sports coach.

Business or leisure, connected consumers are connected travellers

It would be a mistake to distinguish a traveller as having separate personal and corporate travel profiles when digitisation has ensured that the travel expectations and decision-making, whether travelling for business or pleasure, are largely one and the same. Digital access has altered all aspects of our work and personal lives. From shopping to social interaction, entertainment, banking and fitness, connectivity drives the way we act, choose and spend, says Nicole Adonis, general manager, FCM Travel Solutions South Africa.

INTU PROPERTIES PLC - Directorate NED change

ITU 201905210053A Directorate - NED change INTU PROPERTIES PLC (Registration number UK3685527) ISIN Code: GB0006834344 JSE Code: ITU LEI: 213800JSNTERD5CJZO95 intu properties plc (‘intu' or the ‘Company') Directorate - NED change intu announces that Adèle Anderson, Senior Independent Non-Executive Director and Chair of the Audit Committee, has notified the Board that she will be standing down from the Board with effect from Friday 25 October 2019. Accordingly a search for a new non-executive Director has commenced. 21 May 2019 ENQUIRIES Susan Marsden Group Company Secretary +44(0) 207 960 1200 JSE Sponsor Merrill Lynch South Africa (Pty) Limited Date: 21/05/2019 04:30:00 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.

Two convicted of killing former Naspers' financial director

'Our legal system still works and I am satisfied,' says widow Two convicted of killing former Naspers' financial director in brutal house robbery 21 May 2019 The widow of former financial director of Naspers, Eric Wiese, says the conviction of two people who killed him in a brutal house robbery in Cape Town in 2017 is a "very, very big step forward". Sannie Wiese, who was married to the deceased for 52 years, together with loved ones, expressed relief in the Western Cape High Court on Tuesday after Judge Taswell Papier convicted Nomfundo Mtshawu and Vuyolwethu Mgemane. "Our legal system still works and I am satisfied," she said after court proceedings, adding that she was "okay" and had a wonderful support system.

Former race driver Niki Lauda was business visionary

Vienna - Even the humble baseball cap he wore illustrated Niki Lauda's attitude to business and money -- the multi-millionaire never missed an opportunity to accumulate more. Lauda, whose death on Monday has plunged world sport into mourning, was more than a sporting icon, he was also a hard-edged businessman who loved to win.  He wore a red baseball cap to partially disguise the terrible injuries suffered in a fiery crash in 1976 ... but also to turn a profit by renting out space on the hat to sponsors.

EOH HOLDINGS LIMITED - Further cautionary announcement

Wrap Text 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") FURTHER CAUTIONARY ANNOUNCEMENT Shareholders are referred to the initial cautionary announcement released on SENS on 19 February 2019 and the further cautionary announcement released on 3 April 2019. As previously communicated, the internally-initiated investigations into public sector contracts being undertaken by ENSafrica is on track to be concluded and delivered to the EOH board of directors ("Board") by 31 May 2019. The Board will, on receipt of the report, take the necessary time to assess the detail thereof and where necessary engage with relevant stakeholders. Following proper and acceptable progress of this process, the key elements of the report will be presented to the market. This is anticipated to be possible in June 2019. Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made. 21 May 2019 Sponsor Java Capital Date: 21/05/2019 02:30:00 Produced by the JSE SENS Department.

#PICInquiry: Lancaster 101 was nothing more than a oneman show

JOHANNESBURG Lancaster 101 owned by businessman and former trade unionist Jayendra Naidoo only comprised of Naidoo at the time the company approached the Public Investment Commission for R10.4billion.This was revealed during the testimony of PIC senior market risk analyst Tshifhango Ndadza at the Commission of Inquiry into alleged improprieties at Africas largest asset manager where Ndadza was responding to questions posed by assistant commissioner Gill Marcus.Ndadza told the Judge Lex Mpatiled commission that the Lancaster transaction dubbed Project Sierra was not broadbased or major. One individual exposed the PIC to a significant amount of risk he said.He further said that the PIC had always been pro BEE but I think that we are more likely to be dealing with opportunists than proper investors If you look at the Steinhoff transaction the media says its a significant BEE transaction but if you look at those call options or put options whether its the puts or the calls that are being exercised its the BEE party that will sell down its equity stake meaning their percentage share of the company will reduce.Ndadza said because this was already understood from the onset it clearly made it not a BEE transaction.Sekunjalo and Independent Media chairperson Dr Iqbal Survé earlier this year testified before the commission that the PICs investment strategy was in favour of whiteowned and controlled companies at the expense of firms started and managed by black entrepreneurs. A number of political parties concurred with Survé.

METALS-London copper climbs as U.S. eases Huawei restrictions

BEIJING, May 21 (Reuters) - London copper prices rose in early Asian trade on Tuesday after the United States temporarily eased some trade restrictions on Chinese telecoms giant Huawei. On Thursday, the U.S. government had added Huawei and 68 entities to an export blacklist that makes it nearly impossible for the Chinese company to purchase goods made in the United States, escalating Sino-U.S.

Lonmin plans to cut 4 100 workers as it closes platinum mines

Lonmin [JSE:LON] plans to cut 4 100 workers at mines that have run out of profitable ore and are being closed. The platinum producer has started a process that's required under South African labour law to carry out the workforce reductions, said Wendy Tlou, a spokesperson for the company. The layoffs will come from six old mines that have run out of commercially viable ore.

London copper climbs as U.S. eases Huawei restrictions

BEIJING, May 21 (Reuters) - London copper prices rose in early Asian trade on Tuesday after the United States temporarily eased some trade restrictions on Chinese telecoms giant Huawei. On Thursday, the U.S. government had added Huawei and 68 entities to an export blacklist that makes it nearly impossible for the Chinese company to purchase goods made in the United States, escalating Sino-U.S.

GLOBAL MARKETS-Asian shares near 4-month lows on Huawei fallout fears

(Removes extraneous word in paragraph 1) * Asian shares hobbled by U.S.-China technology battle * Fed's Powell dismisses concerns about rising debt levels * Chip-related shares under pressure * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Hideyuki Sano TOKYO, May 21 (Reuters) - Asian shares wobbled near four-month lows on Tuesday on mounting worries the White House's black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between Washington and Beijing. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade but stayed close to a four-month low touched on Friday. It has fallen about 8% from a nine-month peak hit just over a month ago. Japan's Nikkei fell 0.5%. In New York, the S&P 500 lost 0.67% while the Nasdaq Composite dropped 1.46%.

Business Maverick: Trump loses lawsuit challenging subpoena for financial records

US District Judge Amit Mehta also denied a request by Trump to stay his decision pending an appeal. Last Tuesday Mehta heard oral arguments on whether Mazars LLP must comply with a House of Representatives Oversight Committee subpoena. Mehta said in Monday's ruling that the committee "has shown that it is not engaged in a pure fishing expedition for the president's financial records" and that the Mazars documents might assist Congress in passing laws and performing other core functions.

BID CORPORATION LIMITED - Capital Markets Trading Update

BID 201905210020A Capital Markets Trading Update Bid Corporation Limited (Incorporated in the Republic of South Africa) Registration number: 1995/008615/06 Share code: BID ISIN ZAE 000216537 (‘Bidcorp' or ‘the Company' or ‘Group') Capital Markets Trading Update - May 21st 2019 Shareholders are advised that the Bidcorp executive management are meeting with members of the financial community (including shareholders, financial analysts and the press) today, May 21st 2019, to update the market on the trading environment across its international operations. Bidcorp's UK logistics activities remain classified as discontinued operations. The following update deals with the continuing and discontinued operations separately. Continuing operations: Management comments as follows: Current trading performance and overall market conditions • Trading to the end of April F2019 continues to be positive (measured in home currencies). The Easter holidays fell in mid-April versus late March in F2018. Performance achieved by the Group remains on trend.

South African Markets - Factors to watch on May 21

JOHANNESBURG, May 21 (Reuters) - The following debt and currency market moves may affect South African markets on Tuesday. SOUTH AFRICAN MARKETSSouth Africa's rand firmed on Monday after a sharp slide in the previous week as a global sell-off in risk assets slowed, with investors positioning for an event-packed week. .J ZAR/ GLOBAL MARKETS Asian shares won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China's Huawei, although fears of a further escalation in tensions kept investors on edge. MKTS/GLOB WALL STREET U.S.

How AI Is Transforming Business Travel

I t's no secret that the travel industry has become digital-first over the last several years. In fact,  research shows  that 60% of leisure and about 40% of business travel transactions are now completed online. While most business travelers are required to use company-provided booking tools or resources, half of those still "go rogue" and purchase out-of-policy travel.

The best and worst countries for business: Global upheaval edition

The countries that are best equipped to handle climate change and natural disasters-and have reined in government corruption, too-are, unsurprisingly, the best ones for business. The word that might best define the world at the moment is "unstable." Climate change and its attendant consequences-natural disasters, weather shifts, and forced migration-threaten regions across the globe. Brexit in the U.K.

BUSINESS MAVERICK: Another day, another wildcat strike on South Africa's platinum belt

shows a miner from the Anglo Platinum mine (AMPLATS) staging a peaceful march to Rustenburg, South Africa. EPA/KIM LUDBROOK Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest.

Fed's Powell: Business debt no subprime crisis, but still merits reflection

ATLANTA, May 20 (Reuters) - Federal Reserve Chairman Jerome Powell on Monday dismissed comparisons between the rise of business debt to record levels in recent years and the conditions in U.S. mortgage markets that preceded the 2007-to-2009 economic crisis, but even so said caution was warranted. Comparisons to the years before the financial crisis are "not fully convincing" Powell said at an Atlanta Federal Reserve bank conference on financial markets, since the growth of debt seems in line with economic growth, debt service costs remain low, and the financial system is better positioned to absorb losses. Despite that, he pointed to the lack of transparency about the funding sources and ultimate holders of corporate debt, and to risks that any economic downturn could worsen if indebted borrowers begin to fail as reasons for caution. "Business debt has clearly reached a level that should give businesses and investors reason to pause and reflect," Powell said, with corporate borrowing at a record level of around 35 percent of corporate assets. Though growth in corporate debt has slowed lately, "another sharp increase...could increase vulnerabilities appreciably," Powell said. That concern is another reason the Fed may be reluctant to cut interest rates, since lower borrowing costs could prompt firms to take on more debt. High levels of corporate debt, along with the pace of lending to the riskiest borrowers, have emerged in recent months as the Fed's chief financial stability concern. It is something that the central bank has at once tried to flag as troubling if an economic downturn causes the most indebted borrowers to fail. Yet it has also tried to keep the risks in context.

Richemont sets up virtual shop and scoops up the rewards

With brands dating back several centuries, the Swiss-based luxury goods company broke with tradition to open up stores in the huge online shopping space. While clever analysts might have expected good results from Richemont, and fund managers were no doubt hoping for them, it was still nice to see an increase of 139% in earnings per share. "Sales increased in all businesses in most of the regions," notes Johann Rupert, chairman of Richemont, the second largest supplier of luxury goods to the discerning and wealthy in the world. Sales increased by 41% in the American region, 36% in Europe, and 20% in the Asia Pacific countries, with Japan notching up an increase of 17% and the Middle East and Asia some 9%. ‘Breathtaking' The figures are breathtaking: sales increased by a total of 33% in rand terms to nearly R223 billion in the year to March 2019, with profit of more than R44 billion. Richemont always publishes a summary of its results for the pleasure of its large South African shareholder base. In euro terms, sales increased by 27% to €13.99 billion and operating profit 5% to €1.94 billion.

GLOBAL MARKETS-Asian shares near 4-month lows on Huawei fallout fears

* Asian shares hobbled by U.S.-China technology battle * Fed's Powell dismisses concerns about rising debt levels * Chip-related shares under pressure * Asian stock markets: tmsnrt.rs/2zpUAr4 By Hideyuki Sano TOKYO, May 21 (Reuters) - Asian shares wobbled near four-month lows on Tuesday on mounting worries the White House's black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between the Washington and Beijing. MSCI's broadest index of Asia-Pacific shares outside Japan was flat in early trade but stayed close to a four-month low touched on Friday. It has fallen about 8% from a nine-month peak hit just over a month ago.

GLOBAL MARKETS-Asian shares near 4-month lows on Huawei fallout fears

* Asian shares hobbled by U.S.-China technology battle* Fed's Powell dismisses concerns about rising debt levels * Chip-related shares under pressure * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Hideyuki Sano TOKYO, May 21 (Reuters) - Asian shares wobbled near four-month lows on Tuesday on mounting worries the White House's black-listing of Chinese telecom giant Huawei Technologies could further inflame already tense relations between the Washington and Beijing.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was flat in early trade but stayed close to a four-month low touched on Friday. It has fallen about 8% from a nine-month peak hit just over a month ago. Japan's Nikkei .N225 fell 0.5%. In New York, the S&P 500 .SPX lost 0.67% while the Nasdaq Composite .IXIC dropped 1.46%.

More evidence of Matjila overriding the PIC's investment processes

Former PIC CEO said to have signed off on an investment worth billions before the transaction was presented to the PIC. Former chief executive of the Public Investment Corporation (PIC) Dan Matjila signed his approval for the investment of R3 billion in Iqbal Survé's Sagarmatha Technologies prior to the deal going through the PIC's investment committees. Survé's Sekunjalo Investment Holdings had approached the PIC to participate in its listing of Sagarmatha on the Johannesburg Stock Exchange. The company was hoping to raise between R3 billion and R7.5 billion at R39.62 per share. The PIC was expected to subscribe to R3 billion of these shares while the rest would come from other investors.

BUSINESS MAVERICK: Out with the secure solution — banks phasing out safety deposit boxes

Illustrative image. Photo: Adobe Stock While movies like An Inside Man glamourise safe deposit boxes, the ongoing battle by FNB customers who suffered losses after the theft of their boxes in 2016, the costs involved in securing these boxes and the increasing digitisation of assets has caused SA's big banks to rethink their position: Safe deposit boxes are on their way out. Any discussion on bank security boxes brings to mind underground vaults in grand Zurich banks where heroes and villains head, possibly to find clues as to their identity, like Jason Bourne, or to stash wads of cash, as Robert de Niro's character Ace did in Casino, or to find priceless Van Gogh paintings, as Spanish tax inspectors did in 2014.

How Builders is fighting back against the French

Leroy Merlin is going to have to work hard to compete against the market leader … Massmart's Massbuild unit has given some insight into how it intends marrying the digital and in-store shopping experience, with the launch of its ‘store of the future' Builders Warehouse in Boksburg earlier this month. At the same time, its bold move is about making sure it can compete effectively with French rival Leroy Merlin, which will open a branch in the area soon. Leroy Merlin unveiled its first store at Stoneridge in Greenstone, east of Johannesburg, in September last year. This marked the entry into South Africa of the Adeo group, the third-largest DIY retailer in the world and market leader in France, Italy, Spain, Portugal and Russia. At the time, I argued that "Leroy Merlin is unlike anything we've seen in the local market" and that it offered true "world-class retail, especially from a merchandising perspective - with products, brands, choice and assortment that we simply haven't seen before".

Investec Property Fund offloads Australian units

The fund will use the proceeds from the sale to either pay down debt or invest in its Pan-European platforms. Investec Property Fund has sold 45-million units in Investec Australia Property Fund (IAPF) after an offer for shares in IAPF was oversubscribed. The real estate investment trust disposed of the shares to institutional investors at A$1.32 each, resulting in gross proceeds of A$59.4 million, or about R590 million.

BUSINESS MAVERICK: Another day, another wildcat strike on South Africa's platinum belt

Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest. What is unusual is the union behind it: the General Industrial Workers Union of South Africa.

Aspen sells drug portfolio to cut debt

Global healthcare group Mylan has taken up its option to buy a drug portfolio from Aspen Global Inc. Aspen Pharmacare has sold a portfolio of drugs to global healthcare company Mylan as it cleans up its portfolio of products and pays down debt. The pharmaceuticals group says Mylan's Alphapharm business has exercised its option to buy the portfolio from Aspen Global Incorporated for a maximum A$188 million, or about R1.87 billion.

BUSINESS MAVERICK: Another day, another wildcat strike on South Africa's platinum belt

Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest. What is unusual is the union behind it: the General Industrial Workers Union of South Africa.

Johann Rupert's Remgro circling Western Province over unpaid loans

The dire state of South African rugby's finances is once again in the spotlight as embattled Western Province struggle to stay afloat. According to the Huffington Post , the Western Province Rugby Union (WPRU) have just over three weeks to repay Johann Rupert's Remgro a massive R44 million in loans. ALSO READ: What you need to know about Western Province being for sale The company, which was also an equity partner, had bailed out the WPRU in December 2016 after its professional arm, WP Rugby (Pty) Ltd, was declared bankrupt by the Western Cape High Court.

Tharisa keeping the faith with Zimbabwe with progress "slow" but "enabling"

By David McKay - May 20, 2019 Emmerson Mnangagwa, Zimbabwe president. AFTER the euphoria of Robert Mugabe's toppling in late 2017 after 37 years in power, Zimbabwe has returned to earth with a bit of a sobering bump. At the time of writing, the country is plunged in a load-shedding crisis that hurts all, especially the country's mining fraternity - a major part of its economic lifeblood. One of the mining companies quick off the mark in the wake of Mugabe's forced removal by forces sympathetic to Emmerson Mnangagwa, the current president, was Johannesburg-listed Tharisa, led by CEO Phoevos Pouroulis, son of one of South Africa's more famous mining entrepreneur, Loucas Pouroulis. It virtually leapt into Zimbabwe with both feet, signing two agreements to build a chrome mine via a company called Salene, and taking a 26.8% stake in a consortium of Zimbabwean business interests through Karo Platinum using land that the government had extracted previously from Impala Platinum. The load-shedding problems are just insult to injury for an economy hobbled by a currency crisis which had seen the price of staples increase in the order of 300% lately. It really looks like the return of the bad old days.

Amplats urges fired Giwusa miners to appeal their dismissals

Anglo American Platinum (Amplats) said it was left with no choice but to sack them after they violated a court interdict and refused to return to work. | JOHANNESBURG - More than 600 workers who were fired from Anglo American Platinum (Amplats) for participating in an unprotected strike have until Tuesday to appeal their dismissals. The group, who are members of the General Industrial Workers Union of South Africa (Giwusa), make up half the underground staff at Mototolo mine in Limpopo. Amplats said it was left with no choice but to sack them after they violated a court interdict and refused to return to work.

BUSINESS MAVERICK: Out with the secure solution — banks phasing out safety deposit boxes

While movies like An Inside Man glamourise safe deposit boxes, the ongoing battle by FNB customers who suffered losses after the theft of their boxes in 2016, the costs involved in securing these boxes and the increasing digitisation of assets has caused SA's big banks to rethink their position: Safe deposit boxes are on their way out..

Ascena to wind down Dressbarn business, shut 650 stores

May 20 (Reuters) - Ascena Retail Group Inc said on Monday it would wind down its women's budget clothing chain, Dressbarn, shutting about 650 stores in the United States, as it sharpens its focus on profitable brands. Ascena's shares, which have more than halved this year, were up about 3 percent in extended trading. The company, which also houses fashion brands Ann Taylor and Grey, said the move would strengthen its overall financial performance. "This decision was difficult, but necessary, as the Dressbarn chain has not been operating at an acceptable level of profitability in today's retail environment," Dressbarn Chief Financial Officer Steven Taylor said. Dressbarn, a household name for over 50 years, has struggled to grow sales in a competitive market where it battles with online retailers like Amazon.com Inc and off-price retailers like TJX Cos Inc. (Reporting by Nivedita Balu in Bengaluru; Editing by Anil D'Silva) 2019-05-20 23.

Business Dangote makes first appearance on Fortune's annual list of the world's greatest leaders

Africa's richest man, Aliko Dangote has been rated one of the The rating carried out by American multinational business magazine "Great leaders never know for sure if their plans will work, but they plunge ahead anyway. That's why we recognize sheer audacity, well-intended, even if the results aren't known and even if the plans aren't universally applauded … These thinkers, speakers, and doers make bold choices and take big risks- and move others to do the same," the magazine said. This is the first time Fortune magazine is including Dangote in the annual ranking.

Rising costs eat into Pioneer's profit

The branded food producer has maintained its interim dividend despite a slide in earnings. Pioneer Foods has reported a big drop in first-half profit due to a significant increase in costs as it invested in future production, as well as higher fuel prices. Its shares fell as much as 15%.

Amplats axes striking Mototolo workers

The platinum producer says the impact on production has been minimal after workers went on strike over medical aid benefits. Anglo American Platinum (Amplats) has fired half of the underground workforce at its Mototolo Mine in Limpopo after they went on an unprotected strike. The platinum producer said it was granted an interim court interdict against the strike by the General Industrial Workers Union of SA (GIWUSA) on 10 May but employees still downed tools on 12 May, despite it instructing them not to.

How technology is changing the business landscape in Rwanda

Hot off the heels of the Transform Africa Summit that took place in Kigali last week, CNBC Africa speaks to an IT entrepreneur Ernest Kayinamura, CEO of Hexakomb whom has being navigating the ICT sector in Rwanda for the past 7 years, about the deals being signed as Rwanda barrels towards being a knowledge-based economy. https://www.cnbcafrica.com/videos/.

Coronation slashes dividend as asset outflows dent profits

Coronation Fund Managers has cut its interim dividend by more than a quarter after volatile financial markets and net outflows from institutional portfolios weighed on half-year profits. "Coronation's results reflect the extremely challenging financial market conditions experienced worldwide up until December 2018, somewhat ameliorated by the strong recovery in the first quarter of calendar year 2019," it said. Net profit in the six months to end-March fell 26% to R578m and the group lowered its dividend by the same percentage, to R1.65 a share. While Coronation's total assets under management remained flat compared to the start of the period, at R587bn, average assets under management declined by 8% compared to a year before. That contributed to a 22% decrease in revenue to R1.6bn, while operating expenses declined by only 10%. Coronation, one of the largest independent managers of pension assets in SA, said net outflows from local institutions continued in the period. "While we continue to operate in a net-outflow local institutional market, driven by years of low economic growth and poor savings discipline among South Africans, we believe the introduction of in-fund preservation could be positive for renewed growth in the pension fund market in the next five to 10 years," it said. Net outflows from global clients represented 2.4% of assets under management from that book at the start of the period. This was "a reasonable outcome, given the ongoing material shift from active to passive strategies". In the retail business, Coronation saw net outflows representing 2.9% of its opening balance. The group, led by Anton Pillay, said it would probably have a better second half "should current market levels hold". hedleyn@businesslive.co.za.

UPDATE 1-UK Stocks-Factors to watch on May 21

(Adds company news items, futures) May 21 (Reuters) - Britain's FTSE 100 index is seen opening 21 points higher at 7,332 on Tuesday, according to financial bookmakers, with futures up 0.38% ahead of the cash market open. * AMRYT PHARMA: Britain's Amryt Pharma has agreed to buy Aegerion Pharmaceuticals, a subsidiary of Novelion Therapeutics, in a deal that reunites the franchise for lomitapide, a treatment for patients with a rare cholesterol disorder. * WH SMITH: WH Smith Plc Chief Executive Officer Stephen Clarke has decided to step down, the British books, stationary and newspaper chain said on Tuesday as it reported a rise in third-quarter sales.

BUSINESS MAVERICK: Another day, another wildcat strike on South Africa's platinum belt

shows a miner from the Anglo Platinum mine (AMPLATS) staging a peaceful march to Rustenburg, South Africa. EPA/KIM LUDBROOK Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest.

You want me to do what?

Complex financial arrangements have to be brought into the books. In their scramble to create value for shareholders, fund overpaid executives and take out competitors, companies can fall prey to the various dirty tricks that can be used to create revenue, obscure wealth, hide debt and conceal or recharacterise transactions. However, even the most complex of financial arrangements have to be brought into the books, usually via the journal entry. And the person who dreams up the particular, sometimes convoluted, journal entries is our hapless accountant.

BUSINESS MAVERICK: The rand is going digital - and the Reserve Bank is open for suggestions

Central bankers have always been protective of the currencies they keep. Stability is a top priority, which has made them rather cautious about solutions that threaten that position. Yet, lately, they've thrown that caution to the wind as more regulators actively start experimenting with the idea of cryptocurrencies and the underlying blockchain technology.

GLENCORE PLC - GLN: Transactions In own Shares-20 May 2019.

GLN 201905210017A GLN: Transactions In own Shares-20 May 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 21 May 2019 Transactions in own shares-20 May 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: 20 May 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 5,000,000 Lowest price paid per share (GBp): 271.6000 Highest price paid per share (GBp): 277.1500 Volume weighted average price paid per share (GBp): 273.2304 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 822,657,649 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 13,763,542,417. 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 273.1686 2,827,498 BATS 273.4266 189,941 Chi-X 273.2997 1,982,561 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

BRIEF-Coronation Fund Managers HY Diluted HEPS 165.1 Cents

May 21 ( ) - Coronation Fund Managers Ltd CMLJ.J : * HY DILUTED HEADLINE EARNINGS PER SHARE 165.1C * INTERIM DIVIDEND PER SHARE 165.0C * AT PERIOD END, TOTAL AUM REMAINED FLAT COMPARED TO FIGURE REPORTED AS AT END-SEPTEMBER 2018 (R587 BILLION) * AVERAGE AUM FOR SIX MONTHS TO END-MARCH 2019 DECREASED BY 8% * 22% DECREASE IN REVENUE TO R1.6 BILLION FOR HY (MARCH 2018: R2.1 BILLION) * SHOULD CURRENT MARKET LEVELS HOLD, EXPECT IMPROVEMENT IN OUR RESULTS FOR H2 OF CURRENT FINANCIAL YEAR.

Digital transformation isn't about branding, it's about your business

Ten years ago, the JSE was dominated by big mining houses , with BHP Billiton at the top of the pile. Today, almost everyone else is dwarfed by Naspers, a media house that made some early bets on digital technologies and rode a wave of disruption to become one of the world's largest internet companies. Over the years, Naspers has digitally transformed every aspect of its business, sometimes through judicious acquisitions and sometimes through internally fostered innovation.

MMI Holdings says has made good progress with growth strategy

JOHANNESBURG, May 21 (ANA) - Financial services group MMI Holdings said on Tuesday its third quarter financial results reflected good progress with its 'Reset and Grow' strategy announced last September. 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.

Coronation Fund Managers HY Diluted HEPS 165.1 Cents

(Reuters) - Coronation Fund Managers Ltd: * HY DILUTED HEADLINE EARNINGS PER SHARE 165.1C * INTERIM DIVIDEND PER SHARE 165.0C * AT PERIOD END, TOTAL AUM REMAINED FLAT COMPARED TO FIGURE REPORTED AS AT END-SEPTEMBER 2018 (R587 BILLION) * AVERAGE AUM FOR SIX MONTHS TO END-MARCH 2019 DECREASED BY 8% * 22% DECREASE IN REVENUE TO R1.6 BILLION FOR HY (MARCH 2018: R2.1 BILLION) * SHOULD CURRENT MARKET LEVELS HOLD, EXPECT IMPROVEMENT IN OUR RESULTS FOR H2 OF CURRENT FINANCIAL YEAR Source text for Eikon: Further company coverage: 2019-05-21 07.

WATCH: How higher costs put Pioneer Foods on the back foot

Pioneer Foods has reported a 15% plunge in interim adjusted headline earnings to R506m, even as revenue rose 11.5% to R11bn, as the group struggled to pass on higher costs to consumers. Pioneer Foods CEO Tertius Carstens joined Business Day TV to discuss the half-year results..

Awards Wrap: Finalists for the Marketing Achievement Awards, 2019 APEX Awards judges

Print Email Independent Media wins three global media awards Independent Media walked away with three awards at the International News Media Association's (INMA) Global Media Awards, held in New York. The media house received first prize in the category: ‘Best Use Of An Event To Build A News Brand' for its regional and national High School Quiz, which involved creating a platform for teenagers across the country to compete against one another. The competition had no barriers to entry and kept the youth engaged in current affairs.

Wildcat strike on platinum belt - hundreds dismissed

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. Anglo American Platinum, the world's top producer of the precious metal, has just dismissed hundreds of workers at its Mototolo mine for taking part in an unprotected strike. This is not that unusual on the platinum belt, which remains a flashpoint of social and labour unrest.

Lonmin plans to cut 4 100 workers as it closes platinum mines

The layoffs will come from six old mines that have run out of commercially viable ore. Lonmin plans to cut 4 100 workers at mines that have run out of profitable ore and are being closed. The platinum producer has started a process that's required under South African labour law to carry out the workforce reductions, said Wendy Tlou, a spokeswoman for the company. The layoffs will come from six old mines that have run out of commercially viable ore. The cuts are part of Lonmin's plan to trim its staff and lower costs at its deep-level mines.

Iqbal Survé's offer to PIC: buy mine, I'll buy yours

An offer by Iqbal Survé's Sekunjalo Investment Holdings to buy the Public Investment Corporation's (PIC's) stake in Independent Media would have effectively led to the asset manager funding its own exit from a deal in which it injected more than R1bn of government workers' pensions. The PIC, which is the biggest investor on the JSE and has more than R2-trillion in assets under management, initially invested R1.285bn in 2013 to enable Sekunjalo to buy the Independent Media group from its Irish parent, Independent News and Media plc. Independent Media owns a range of well-known publications including The Star and Cape Argus.

Selling property is risky business

Property is a significant financial asset and its sale should not be taken lightly. Samuel Seeff, chairperson of the Seeff Property Group, says real estate transactions are now complex, with well over 20 pieces of legislation governing various aspects and the list continues to grow. It is becoming ever-more onerous for property owners, sellers and landlords.

#PICInquiry: Lancaster 101 was nothing more than a one-man show

JOHANNESBURG - Lancaster 101, owned by businessman and former trade unionist Jayendra Naidoo, only comprised of Naidoo at the time the company approached the Public Investment Commission for R10.4billion. This was revealed during the testimony of PIC senior market risk analyst Tshifhango Ndadza at the Commission of Inquiry into alleged improprieties at Africa's largest asset manager, where Ndadza was responding to questions posed by assistant commissioner Gill Marcus. Ndadza told the Judge Lex Mpati-led commission that the Lancaster transaction, dubbed Project Sierra, was not broad-based or major.

Amplats Urges Fired Miners To Appeal Dismissals

More than 600 workers who were fired from Anglo American Platinum (Amplats) for participating in an unprotected strike have until Tuesday to appeal their dismissals. The group, who are members of the General Industrial Workers Union of South Africa (Giwusa), make up half the underground staff at Mototolo mine in Limpopo.  Amplats said it was left with no choice but to sack them after they violated a court interdict and refused to return to work. It's understood they were striking over medical aid schemes.

Coca-Cola to retain majority stake in Africa bottling business

The Coca-Cola Company has announced that it will maintain its majority stake in Coca-Cola Beverages Africa, abandoning plans to refranchise its Africa bottling business. " data-lazyauto="true"> Image credit: CCBA With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019, in accordance with U.S. accounting standards.

Pioneer shares hit by 14% drop in earnings

JOHANNESBURG - Pioneer Foods plummeted more than 15 percent in early trade on the JSE after the packaged goods company reported a 14 percent decline in earnings for the six months to end-March. Pioneer said its headline earnings crashed to R509.1million from R620.3m last year on the back of higher operating costs.  The news sent shock waves to other big food companies on the JSE, with Tiger Brands shedding 3.8percent of its share value, while AVI lost 2.68percent. Chief executive Tertius Carstens said factors such as fuel price increases and maize shortages had a negative impact on the results during the period.

More evidence of Dan Matjila overriding the PIC's investment processes

Former PIC CEO said to have signed off on an investment worth billions before the transaction was presented to the PIC. 10 mins ago The former chief executive of the Public Investment Corporation (PIC) Dan Matjila signed his approval for the investment of R3 billion in Iqbal Survé's Sagarmatha Technologies prior to the deal going through the PIC's investment committees. Survé's Sekunjalo Investment Holdings had approached the PIC to participate in its listing of Sagarmatha on the JSE.

Majestic Wine's retail business attracts many suitors

May 21 (Reuters) - Britain's largest specialist wine retailer Majestic Wine said it had received a number of expressions of interest for its branded retail business, which it was exploring to sell. Majestic Wine's shares were 3.6% higher at 275.1 pence at 0931 GMT. The wine producer and distributor said in March it would sell some assets, close stores and review its dividend to focus on its growth engine, Naked Wines, as it seeks to fend off competition from discount markets and online rivals.

The Small Business Corner: Dany Cosmetics

WE at people magazine believe in the small business enterprise as a driver of our economy. We are strong supporters of individuals who exhibit an entrepreneurial spirit and who are creating jobs. And that's why we want to give them our full support.

World's first automated business intelligence engines that offer on-demand marketing

Trial Run Media has conceptualised the world's first network of automated business intelligence engines (ABIEs), launching this spring, that offers on-demand content like free samples and loyalty rewards, linked to automatic data collection. " data-lazyauto="true"> Ursula McDonald and Pippa Capstick. While sampling isn't new, it has never been automatically linked to data.

Diary: Local Events To Look Forward To

There's always something to look forward to on the local arts scene. We've rounded up some awesome events and exhibitions for you to add to your calendar. Pretoria HOMEMAKERS Expo at Sun Arena, Time Square, Menlyn 24 - 26 May 2019 This year, the Pretoria HOMEMAKERS Expo brings you the best products in home improvement.  The Expo is where you can come face-to-face with the craftspeople or knowledgeable experts who provide visitors with the best understanding of the product.

Aspen Pharmacare continues to sell noncore assets to reduce debt

JOHANNESBURG South African drug maker Aspen Pharmacare continued with its strategy of exiting noncore assets after Mylan exercised its option to buy its portfolio for a maximum consideration of A$188million (R1.86billion).The group said it would use the proceeds to reduce its debt. It said it would also offload its prescription and overthecounter products in Australia. This divestment is in line with the groups ongoing portfolio management approach and its stated intention to not only acquire value enhancing products but to also divest of noncore assets thereby ensuring enhanced operational focus the group said.

GLENCORE PLC - GLN: Transactions In own Shares-20 May 2019.

Wrap Text GLN: Transactions In own Shares-20 May 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 21 May 2019 Transactions in own shares-20 May 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: 20 May 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 5,000,000 Lowest price paid per share (GBp): 271.6000 Highest price paid per share (GBp): 277.1500 Volume weighted average price paid per share (GBp): 273.2304 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 822,657,649 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 13,763,542,417. 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 Volum

De Beers diamond sales slump again in another warning sign

De Beers's diamond sales plunged to the lowest since 2017 in the company's latest offering, underlining a slump in the industry worldwide. Sales by the Anglo American unit dropped 25% from a year ago to $415m, and were down 29% from an offering last month. It's often a quieter time of the year because the industry has already restocked after the key holiday period, but total sales so far in 2019 are still much weaker than in previous years.

REINET INVESTMENTS S.C.A - Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend

Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend Reinet Investments S.C.A. (Incorporated in Luxembourg) ISIN: LU0383812293 Code: RNI COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2019 AND PROPOSED DIVIDEND The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A.

Interview: IoT.nxt CEO Nico Steyn

Nico Steyn In this episode of the podcast, interviews IoT.nxt co-founder and CEO Nico Steyn about the recently announced acquisition by Vodacom Group of 51% of the company. Steyn explains how the deal came about, what IoT.nxt will use the capital injection to do and what's next for the Centurion, Pretoria-headquartered Internet-of-things platform start-up. In the podcast, Steyn talks about why he quit his corporate job at Pinnacle to co-found IoT.nxt, its funding from Talent10, its expansion into Europe and more recently the US, and its plans for further globalisation.

Fitch Rates Standard Bank Group's Updated EMTN Programme Final 'BB+'

(The following statement was released by the rating agency) Fitch Ratings-London-May 21: Fitch Ratings has assigned Standard Bank (JO:SBKJ) Group's (SBG) USD4 billion euro medium-term note (EMTN) programme final long and short-term ratings of 'BB+' and of 'B', respectively. The assignment of final ratings to the EMTN programme follows the receipt of final documents conforming to information already received. The final ratings are in line with the expected ratings assigned on 10 May 2019.

De Beers blames "macroeconomic uncertainty" for heavy slide in fourth cycle sales

- Facebook Twitter Google+ Pinterest WhatsApp ROUGH diamond sales fell heavily in the fourth cycle or site of the year, said Anglo American-owned De Beers in an update today. "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period," said Bruce Cleaver, CEO of De Beers Group. Sales came in at $415m for the fourth cycle which compares to $581m for the previous, third cycle and $554m for the fourth cycle of the previous financial year.

Nabantu: An imminent evolution contributing to a new era of business

" data-lazyauto="true"> True North Coaching and Consulting embraces the evolutionary compass, and heads into a brand-new direction. 11 April 2019, Hyde Park House of Events was home to the official relaunch and new brand, "Nabantu" (formerly known as True North Coaching and Consulting). The event welcomed an intimate and exclusive guest attendance of South Africa's top company heads and executives to celebrate and introduce the company's new corporate identity.

How to identify an opportunity and succeed in local business

In harsh and unstable political and economic climate, only the strong survive. Whether it's carving out a niche, creating a strategy for diversification or both, operating in times such as these requires bold strategies and fresh thinking.  Today B-BBEE cannot be ignored, but a few years ago the picture was slightly different. There was much resistance and low awareness by corporate South Africa and the uptake was slow.

Stuck and grasping: The 10% hack that will get your business game back on

Business leaders, entrepreneurs, startups, and fintech gurus are all facing the reality that their enterprises need to understand and effectively respond to disruption, uncertainty, and rapid technological advancement if they are to avoid obsolescence. But too many don't have a strategy for innovation and instead go for a try-it-all approach which is counter-productive. " data-lazyauto="true"> Debbie Goodman-Bhyat, leadership strategist and founder of Jack Hammer We all know that the world of work and business is changing and transforming rapidly, even exponentially.

The Healthy Business Show - Starting Your Business

Today we see Discovery as one of South Africa's biggest businesses with thousands of employees and hundreds of thousands of clients, but in 1992 it was just a small team trying to pitch their idea and break into the market. Barry Swartzberg (Vitality Group CEO) chats to Fred Roed about when and how to scale your business. How important is honing your product and market validation? In this first exciting episode, we hear why, when it comes to entrepreneurship, you need to ‘fall in love with the process'.

Chef Jamie Oliver's UK restaurant business goes into administration

British celebrity chef Jamie Oliver's restaurant chain went into administration on Tuesday, threatening around 1,300 jobs in the latest blow for Britain's high street. Oliver, 43, a well-known figure in Britain and beyond for his popular TV shows and top-selling cookery books, founded his Jamie's Italian brand of high street restaurants in 2008. "I am deeply saddened by this outcome and would like to thank all of the staff and our suppliers who have put their hearts and souls into this business for over a decade," he said.

Traka accelerates expansion into wider African markets

Leveraging on almost two decades of experience in South Africa, and a presence in a further six African countries, networked key and equipment management solutions company Traka Africa announces an acceleration in their growth strategy. It plans to open new operations or expand more widely in five southern African countries, as well as into East Africa. " data-lazyauto="true"> Traka is the global leader in its market, having a presence in 40 countries through a combination of its own subsidiaries and local partners.

Gugulethu couple found guilty of former Naspers employee Eric Wiese's murder

CAPE TOWN - A Gugulethu couple has been found guilty of the murder of former Naspers financial director Eric Wiese. in the Western Cape High The 80-year-old man was assaulted and killed at his Higgovale home in August 2017. Wiese died of manual strangulation and several items including cellphones, jewellery, backpacks and wine had been stolen from his home.

FOREX-Trade war hits Asian markets, pushing dollar to 4-week high

(Recasts; adds analyst quotes; updates prices; changes dateline, previous LONDON) By Kate Duguid NEW YORK, May 21 (Reuters) - Signs that Asia is already feeling the pinch from a trade conflict between the United States and China pushed the U.S. dollar to a four-week high on Tuesday, while higher U.S. Treasury yields helped the move. Data showed economic growth in Singapore was its lowest in nearly a decade in the first quarter, while in Thailand it was at its lowest in four years, raising worries that major Asian economies will be hurt by global trade tensions.

BCI worked like a machine last weekend

BCI Security personnel had a very busy weekend trying to keep the community safe. After participating in a gathering to promote visibility on 17 May, the company's personnel were hard at work, responding to various incidents where help was needed. On 18 May, BCI personnel assisted a domestic worker to recover items that had been stolen from her by suspects from an informal settlement.

Two convicted of killing former Naspers' financial director in brutal house robbery

The widow of former financial director of Naspers, Eric Wiese, says the conviction of two people who killed him in a brutal house robbery in Cape Town in 2017 is a "very, very big step forward". Sannie Wiese, who was married to the deceased for 52 years, together with loved ones, expressed relief in the Western Cape High Court on Tuesday after Judge Taswell Papier convicted Nomfundo Mtshawu and Vuyolwethu Mgemane. "Our legal system still works and I am satisfied," she said after court proceedings, adding that she was "okay" and had a wonderful support system.

PSG GROUP LIMITED - Dealing In PSG Shares By Associates Of Directors

PSG 201905210049A Dealing In PSG Shares By Associates Of Directors PSG Group Limited Incorporated in the Republic of South Africa Registration number: 1970/008484/06 JSE Limited (‘JSE') share code: PSG ISIN code: ZAE000013017 (‘PSG') DEALING IN PSG SHARES BY ASSOCIATES OF DIRECTORS In compliance with rules 3.63 to 3.74 of the JSE Listings Requirements, the following information is disclosed: 1. NAMES OF DIRECTORS JJ Mouton (A) PJ Mouton (B) COMPANY OF WHICH WE ARE PSG Group Limited DIRECTORS STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive (A) Executive (B) TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATES OF TRANSACTIONS 17 May 2019 (1) 20 May 2019 (2) CENTS PER SHARE Low: 24 740 (1) High: 24 970 (1) VWAP: 24 861 (1) Low: 24 930 (2) High: 25 100 (2) VWAP: 25 050 (2) NUMBER OF SECURITIES TRANSACTED 75 814 (1) 14 186 (2) TOTAL RAND VALUE OF SECURITIES R18 848 345.98 (1) R3 553 619.09 (2) NAME OF ASSOCIATE Jan Mouton Beleggings Proprietary Limited RELATIONSHIP WITH DIRECTORS The director is a (A)-(B) trustee and discretionary beneficiary of the sole shareholder of the associate NATURE OF TRANSACTIONS Acquisition of shares by an associate of the directors (On-market transactions) NATURE AND EXTENT OF INTEREST IN Indirect, beneficial THE TRANSACTIONS 2. NAME OF DIRECTOR JJ Mouton COMPANY OF WHICH I AM A DIRECTOR PSG Group Limited STATUS: EXECUTIVE/NON-EXECUTIVE Non-executive TYPE OF SECURITIES Shares CLASS OF SECURITIES Ordinary DATE OF TRANSACTIONS 20 May 2019 (1)-(3) CENTS PER SHARE Low: 24 750 (1) High: 25 000 (1) VWAP: 24 929 (1) Low: 24 748 (2) High: 25 000 (2) VWAP: 24 936 (2) Low: 24 777 (3) High: 25 000 (3) VWAP: 24 939 (3) NUMBER OF SECURITIES TRANSACTED 1 600 (1) 1 600 (2) 1 600 (3) TOTAL RAND VALUE OF SECURITIES R398 869.50 (1) R398 971.60 (2) R399 019.42 (3) NAMES OF ASSOCIATES Amelie Mouton Trust (1) Catharina Mouton Trust (2) Johannes Mouton Trust (3) RELATIONSHIP WITH DIRECTOR The director is a trustee (1)-(3) of the associates NATURE OF TRANSACTIONS Acquisition of s

The 10% hack that will get your business game back on

Businesses need to adapt to changing environments East London - Business leaders, entrepreneurs, startups, and fintech gurus are all facing the reality that their enterprises need to understand and effectively respond to disruption, uncertainty, and rapid technological advancement if they are to avoid obsolescence. But too many don't have a strategy for innovation and instead go for a try-it-all approach which is counter-productive, a leadership expert says. "We all know that the world of work and business is changing and transforming rapidly, even exponentially," says Debbie Goodman-Bhyat, leadership strategist and founder of Jack Hammer, Africa's largest executive search firm which recently expanded its footprint to the USA; as well as global online coaching platform Virtual Coaching Partners.

5 things you need to know in SA business today and 11 mind-boggling geography facts

1. The first indications about who has been left out of cabinet have emerged: Nomvula Mokonyane, the controversial minister of Environmental Affairs Minister, has been appointed as the "chair of chairs" - a position that oversees parliamentary committees - and therefore won't get a cabinet position again. Mokonyane previously served as minister of water and sanitation.

BRIEF-Anglo American Announces Rough Diamond Sales Value For De Beers'

May 21 ( ) - Anglo American PLC AAL.L :* JSE: AGL - ANGLO AMERICAN ROUGH DIAMOND SALES VALUE FOR DE BEERS' FOURTH SALES CYCLE OF 2019 * ANGLO AMERICAN PLC - VALUE OF ROUGH DIAMOND SALES SIGHTHOLDER SALES AND FOR DE BEERS' FOURTH SALES CYCLE OF 2019, AMOUNTING TO $415 MILLION..

MMI HOLDINGS LIMITED - Operational Update for nine months ended 31 March 2019

Operational Update for nine months ended 31 March 2019 MMI Holdings Limited Incorporated in the Republic of South Africa (Registration Number: 2000/031756/06) JSE code: MMI NSX code: MIM ISIN: ZAE000149902 ("MMI" or "the group") MMI GROUP LIMITED Incorporated in the Republic of South Africa (Registration No. 1904/002186/06) OPERATIONAL UPDATE For nine months ended 31 March 2019 Company code: MMIG The third quarter financial results for MMI Holdings (MMI) reflect pleasing performance and good progress with the Reset and Grow strategy that MMI announced in September 2018. Diluted normalised headline earnings(1) per share increased by 26% relative to the prior period, marginally better than expectations. This increase should be viewed in the context of poor results for the comparative prior period, but would not have been possible without efficiency improvements as well as appropriate investments in strategies for future growth.

CORONATION FUND MANAGERS LIMITED - Interim Results For The Six Months Ended 31 March 2019

Wrap Text Interim Results For The Six Months Ended 31 March 2019 CORONATION FUND MANAGERS (Incorporated in the Republic of South Africa) Registration number: 1973/009318/06 JSE share code: CML ISIN: ZAE000047353 ("Coronation" or "the company") INTERIM RESULTS for the six months ended 31 March 2019 - Assets under management (AUM) R586bn - Diluted headline earnings per share 165.1c - Interim dividend per share 165.0c RESULTS Coronation's results for the six months to end March 2019 reflect the extremely challenging financial market conditions experienced worldwide up until December 2018, somewhat ameliorated by the strong recovery in the first quarter of calendar year 2019 (Q1-19). Despite the FTSE/JSE All Share Index's 8.0% gain in Q1-19, it produced a mediocre return of 2.7% over the reporting period. Emerging markets were up 9.9% in Q1-19, but only gained 1.7% in the reporting period, as measured by the MSCI Emerging Markets Index in US dollar terms; while developed markets, as measured by the MSCI All Country World Index in US dollars, lost 2.1% for the reporting period, despite adding 12.2% in Q1-19. At the period end, Coronation's total assets under management (AUM) remained flat compared to the figure reported as at end-September 2018 (R587 billion).

African Markets - Factors to watch on May 21

NAIROBI, May 21 (Reuters) - 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 won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China's Huawei, although fears of a further escalation in tensions kept investors on edge. MKTS/GLOB WORLD OIL PRICES Oil prices edged up on Tuesday on escalating tensions between the United States and Iran and on signs that producer club OPEC will continue withholding supply this year. O/R EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J SOUTH AFRICA MARKETS South Africa's rand firmed on Monday after a sharp slide in the previous week as a global sell-off in risk assets slowed, with investors positioning for an event-packed week.

REINET INVESTMENTS S.C.A - Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend

RNI 201905210005A Consolidated audited financial results for the year ended 31 March 2019 and proposed dividend Reinet Investments S.C.A. (Incorporated in Luxembourg) ISIN: LU0383812293 Code: RNI COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31 MARCH 2019 AND PROPOSED DIVIDEND The Board of Reinet Investments Manager S.A. announces the results of Reinet Investments S.C.A. for the year ended 31 March 2019. Key financial data - Reinet's net asset value of EUR 4.8 billion reflects a compound return of 10 per cent per annum in euro terms, since March 2009, including dividends paid - The net asset value at 31 March 2019 reflects a decrease of EUR 297 million or 5.8 per cent from EUR 5 127 million at 31 March 2018 - Net asset value per share at 31 March 2019: EUR 25.30 (31 March 2018: EUR 26.17) - Share buyback programme: 5.02 million shares repurchased as at 31 March 2019 for a consideration of EUR 68 million - Commitments totalling EUR 223 million in respect of new and existing investments made during the year, and a total of EUR 250 million funded during the year - Dividends from British American Tobacco during the year amounted to EUR 148 million - Reinet dividend of some EUR 35 million, or EUR 0.18 per share, paid during the year - Proposed Reinet dividend of EUR 0.19 per share payable after the 2019 annual general meeting Reinet Investments S.C.A.

MMI Holdings says has made good progress with growth strategy

JOHANNESBURG, May 21 (ANA) - Financial services group MMI Holdings said on Tuesday its third quarter financial results reflected good progress with its 'Reset and Grow' strategy announced last September. MMI Holdings, which is listed on the Johannesburg Stock Exchange, said diluted normalised headline earnings per share increased by 26 percent compared with the prior period, marginally better than expectations. "This increase should be viewed in the context of poor results for the comparative prior period, but would not have been possible without efficiency improvements as well as appropriate investments in strategies for future growth," it said. "MMI remains cautiously confident that the group is on track to achieve the three-year financial targets set for 2021, namely to deliver normalised headline earnings between R3.6 billion and R4.0 billion." The company said its current emphasis on financial discipline and improving client service was starting to have a positive impact. The operating environment however remained difficult both in South Africa and the rest of the continent. Although normalised headline earnings for the final quarter were expected to be lower than the run-rate as seen in the first nine months, MMI said it was confident normalised headline earnings would be in line with the 'Reset and Grow' targets for 2019. "MMI also expects new business volumes to be broadly similar as those seen for the first nine months, once adjusted for the single large annuity contract written in 1Q (first quarter) 2019," it added. - African News Agency (ANA), Editing by Stella Mapenzauswa.

South Africa's Pioneer Foods H1 earnings down on maize shortfall

PNR-FOODS:   7,390     0 (0.00%)   21/05/2019 00:00 (Adds comment, outlook, share fall) JOHANNESBURG, May 20 (Reuters) - South Africa's Pioneer Food Group reported a decline in half-year earnings on Monday, driven down by maize shortages, sending its shares down more than 8 percent. The food and drinks company, which uses maize in many of its products, said it was unable to counter the shortfall. "The year-on-year regression in the performance of the maize category, off the strong comparative period base, was more than expected, given sustained selling price deflation despite raw material cost inflation and a weaker milling performance," it said. At 0800 GMT, the company's share price was down 8.660 percent to 75.87 rand. Pioneer said continued economic weakness will put pressure on consumer spending. Diluted adjusted headline earnings per share (HEPS) for the six months ended March 31 fell 14% to 272.4 cents from 320 cents a year earlier, the food and beverage company said. HEPS is the main profit measure used in South Africa, which strips out once-off items. Pioneer, which also operates in Britain, said earlier this year that the business was doing well despite Brexit tensions. The food company's revenue rose 11.5% to 11.039 billion rand ($768.20 million), driven by growth in bread, wheat, rice, beverages, cereals and sausage rolls in Nigeria. Pioneer issued a dividend of 105 cents per share for the six month ended 31 March 2019. ($1 = 14.3700 rand) (Reporting by Onke Ngcuka, editing by Louise Heavens) 2019-05-20 10.

Indian shares hit record highs, exit polls keep cheering markets

(Corrects to remove extraneous words in paragraph 1) * NSE index up 0.44%, BSE index 0.53% higher * HDFC, Dr Reddy's Labs among top pct gainers May 21 (Reuters) - Indian shares rose to all-time highs on Tuesday, extending a four-day rally after exit polls on Sunday showed Prime Minister Narendra Modi was set to retain power with an even bigger mandate than in 2014. The NSE index was up 0.44%, after hitting a record 11,883.55, while the benchmark BSE index was up 0.53%, after hitting its highest at 39,571.73. Both the indexes saw their biggest single-day gain since September 2013 on Monday. Adani Ports and Special Economic Zone Ltd was up 2.7% and was the top percentage gainer on the NSE index while Tata Motors Ltd slid 2.9% after reporting a 47% slump in March-quarter profit on Monday. Modi's National Democratic Alliance (NDA) is projected to comfortably get a majority in the lower house of parliament, exit polls showed. (Reporting By Arnab Paul in Bengaluru; editing by Gopakumar Warrier) First Published: 2019-05-21 06:16:21 Updated 2019-05-21 06.

Toy gun used in business robbery

Lansdowne police arrested a 19-year-old man for business robbery charges after he allegedly held a store clerk at gunpoint. According to Lansdowne police spokesperson, Sergeant Nkululeko Mnyaka, the suspect pretended to be a customer at a fruit and vegetable business on Saturday 11 May at 20:10. It is alleged the man entered the store, went to the refrigerator and reached for a cool drink.

Attempted murder and business robbery in Everest informal settlement

Three suspects robbed a tuck shop in Everest informal settlement in the early hours of Saturday morning. The suspects arrived at the shop and one of them asked the lady if they could buy vetkoeks. After the lady opened the door to let the men in, one of the suspects pulled out a firearm and demanded money from her.

Ciara is going to Harvard Business School!

Ciara has been accepted into Harvard's  Business of Entertainment, Media and Sports program . According to the Ivy League's website, the three-day program is "selective process based on … professional achievement and organizational responsibilities." Ciara shared the exciting news on social media sharing in part: "This week I got accepted into Harvard! Words cannot describe my excitement!" Congratulations!   View this post on Instagram   I always dreamt of going to college, but by God's grace, my music career took me on a path that I'm so thankful for. This week I got accepted into Harvard! Words cannot describe my excitement! Thank you @anitaelberse for a once in in a lifetime opportunity to attend @Harvard BEMS.

BRIEF-MMI Holdings Says Diluted Normalised HEPS In Q3 Increased By 26%

May 21 ( ) - MMI Holdings Ltd MMIJ.J : * OPERATIONAL UPDATE FOR NINE MONTHS ENDED 31 MARCH 2019 * ON TRACK TO ACHIEVE THREE-YEAR FINANCIAL TARGETS SET FOR 2021 * DILUTED NORMALISED HEADLINE EARNINGS PER SHARE IN Q3 INCREASED BY 26% RELATIVE TO PRIOR PERIOD* DILUTED NORMALISED HEADLINE EARNINGS, GROUP'S MAIN EARNINGS MEASURE, INCREASED BY 19% TO R 2.4 BILLON FOR NINE MONTHS RELATIVE TO PRIOR PERIOD* DILUTED NORMALISED HEADLINE EARNINGS IMPROVED DURING NINE MONTHS MAINLY AS A RESULT OF SOLID PROFITABILITY IN MOMENTUM LIFE * PRESENT VALUE OF NEW BUSINESS PREMIUMS (PVNBP) FOR NINE MONTHS WAS R40.6 BILLION, AN INCREASE OF 11% FROM PRIOR PERIOD * VALUE OF NEW BUSINESS (VNB) FOR NINE MONTHS WAS R417 MILLION, WHICH REPRESENTS AN INCREASE OF 10% FROM PRIOR PERIOD * NORMALISED HEADLINE EARNINGS FOR FINAL QUARTER ARE EXPECTED TO BE LOWER THAN RUN-RATE AS SEEN IN FIRST NINE MONTHS * EXPECTS NEW BUSINESS VOLUMES TO BE BROADLY SIMILAR AS THOSE SEEN FOR FIRST NINE MONTHS * CONFIDENT THAT NORMALISED HEADLINE EARNINGS WILL BE IN LINE WITH RESET AND GROW TARGETS FOR 2.

MMI Holdings making good progress with growth strategy

Financial services group MMI Holdings said on Tuesday its third quarter financial results reflected good progress, with its ‘Reset and Grow' strategy announced last September. MMI Holdings, which is listed on the Johannesburg Stock Exchange, said diluted normalised headline earnings per share increased by 26 percent compared with the prior period, marginally better than expectations. "This increase should be viewed in the context of poor results for the comparative prior period, but would not have been possible without efficiency improvements as well as appropriate investments in strategies for future growth," it said.

Business Maverick: The Trade war has sunk emerging markets. There's more to come.

Stocks were on course for their worst month since October, while currencies suffered their biggest weekly loss in a year, erasing gains for the year. Brazil's real led the drop as protests added to political tensions and growth forecasts declined, followed by the rand in South Africa, whose pledge to keep Eskom Holdings. afloat is weighing on the government's debt.

MMI HOLDINGS LIMITED - Operational Update for nine months ended 31 March 2019

Wrap Text Operational Update for nine months ended 31 March 2019 MMI Holdings Limited Incorporated in the Republic of South Africa (Registration Number: 2000/031756/06) JSE code: MMI NSX code: MIM ISIN: ZAE000149902 ("MMI" or "the group") MMI GROUP LIMITED Incorporated in the Republic of South Africa (Registration No. 1904/002186/06) OPERATIONAL UPDATE For nine months ended 31 March 2019 Company code: MMIG The third quarter financial results for MMI Holdings (MMI) reflect pleasing performance and good progress with the Reset and Grow strategy that MMI announced in September 2018. Diluted normalised headline earnings(1) per share increased by 26% relative to the prior period, marginally better than expectations. This increase should be viewed in the context of poor results for the comparative prior period, but would not have been possible without efficiency improvements as well as appropriate investments in strategies for future growth.

Woman Zone Story Café - How Green is your Business?

On June 1 at Woman Zone Story Café,   Environmental Consultant Zubeida Zwavel speaks  on making your business greener. Let  Zubeida Zwavel  help you plants the seeds of sustainability All businesses, large or small, need to be sustainable financially. But what counts in the bigger picture, and to an increasing number of clients, is that they are environmentally sustainable and eco friendly.

CORONATION FUND MANAGERS LIMITED - Interim Results For The Six Months Ended 31 March 2019

CML 201905210003A Interim Results For The Six Months Ended 31 March 2019 CORONATION FUND MANAGERS (Incorporated in the Republic of South Africa) Registration number: 1973/009318/06 JSE share code: CML ISIN: ZAE000047353 (‘Coronation' or ‘the company') INTERIM RESULTS for the six months ended 31 March 2019 - Assets under management (AUM) R586bn - Diluted headline earnings per share 165.1c - Interim dividend per share 165.0c RESULTS Coronation's results for the six months to end March 2019 reflect the extremely challenging financial market conditions experienced worldwide up until December 2018, somewhat ameliorated by the strong recovery in the first quarter of calendar year 2019 (Q1-19). Despite the FTSE/JSE All Share Index's 8.0% gain in Q1-19, it produced a mediocre return of 2.7% over the reporting period. Emerging markets were up 9.9% in Q1-19, but only gained 1.7% in the reporting period, as measured by the MSCI Emerging Markets Index in US dollar terms; while developed markets, as measured by the MSCI All Country World Index in US dollars, lost 2.1% for the reporting period, despite adding 12.2% in Q1-19. At the period end, Coronation's total assets under management (AUM) remained flat compared to the figure reported as at end-September 2018 (R587 billion).

Business Maverick: The Trade war has sunk emerging markets. There's more to come.

Stocks were on course for their worst month since October, while currencies suffered their biggest weekly loss in a year, erasing gains for the year. Brazil's real led the drop as protests added to political tensions and growth forecasts declined, followed by the rand in South Africa, whose pledge to keep Eskom Holdings. afloat is weighing on the government's debt.

BARLOWORLD LIMITED - Preference dividend no.166

BAW BAWP 201905210019A Preference dividend no.166 Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) (‘Barloworld' or ‘the Company') PREFERENCE DIVIDEND NO.166 Notice is hereby given that preference dividend number 166 at a rate of 6% per annum in respect of the interim period ended 31 March 2019 has been declared on 21 May 2019, to all preference shareholders. In accordance with paragraphs 11.17 (a) (i) to (x) and 11.17(c) of the JSE Listings Requirements the following additional information is disclosed: • The dividend has been declared out of income reserves; • Local dividends tax rate is 20% (twenty per centum); • Gross local dividend amount is 6 cents per preference share; • Net local dividend amount is 4.80 cents per preference share; • Barloworld has 375 000 non-redeemable preference shares of R2 each in issue; In compliance with the requirements of Strate and the JSE Limited, the following dates are applicable: Dividend declared Tuesday, 21 May 2019 Last day to trade cum dividend Tuesday, 18 June 2019 Preference Shares trade ex-dividend Wednesday, 19 June 2019 Record date Friday, 21 June 2019 Payment date Monday, 24 June 2019 Share certificates may not be dematerialised or rematerialised between Wednesday 19 June 2019 and Friday 21 June 2019, both days inclusive. Sandton 21 May 2019 Equity Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited Debt Sponsor: Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 21/05/2019 09:00:00 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 completenes

OCEANA GROUP LIMITED - 2013 Share Plan: Dealings in Securities

OCE 201905210018A 2013 Share Plan: Dealings in Securities OCEANA GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1939/001730/06) JSE share code: OCE NSX share code: OCG ISIN: ZAE000025284 (‘Oceana' or the ‘Company') OCEANA GROUP LIMITED 2013 SHARE PLAN: DEALINGS IN SECURITIES In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE Limited (‘the JSE'), shareholders are advised that Oceana has offered the following Restricted Shares (‘Restricted Shares') to the following directors of the Company, the Company Secretary and directors of major subsidiaries of the Company (‘the Participants'), as set out below. Restricted Shares are settled after three years from the offer date subject to the Participant still being in the employment of the Company. The offers were accepted on 20 May 2019. The Restricted Shares offered may be summarised as follows: Name Position No of Restricted Shares awarded I Soomra Director 72 623 L De Waal Director of a major subsidiary 18 170 S Salie Director of a major 19 650 subsidiary P Freese Director of a major subsidiary 7 329 S Naidoo Director of a major subsidiary 1 500 JM Marais Company Secretary 16 839 The following are applicable to the above: Class of underlying security to which rights attach Ordinary shares Restricted Share award price per share Rnil (not applicable) Nature of transaction Off-market allocation of Restricted Shares Restricted Shares vesting Third anniversary of the period offer date Nature of interest Direct beneficial In accordance with section 3.66 of the Listings Requirements of the JSE, the necessary clearance was obtained to accept the above-mentioned Restricted Shares. 21 May 2019 Cape Town Sponsor - South Africa: The Standard Bank of South Africa Limited Sponsor - Namibia: Old Mutual Investment Services (Namibia) Proprietary Limited Date: 21/05/2019 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the

MMI HOLDINGS LIMITED - Operational Update for nine months ended 31 March 2019

MMI MMIG02 MMIG04 MMIG05 MMIG03 MMIG07 MMIG06 201905210002A Operational Update for nine months ended 31 March 2019 MMI Holdings Limited Incorporated in the Republic of South Africa (Registration Number: 2000/031756/06) JSE code: MMI NSX code: MIM ISIN: ZAE000149902 (‘MMI' or ‘the group') MMI GROUP LIMITED Incorporated in the Republic of South Africa (Registration No. 1904/002186/06) OPERATIONAL UPDATE For nine months ended 31 March 2019 Company code: MMIG The third quarter financial results for MMI Holdings (MMI) reflect pleasing performance and good progress with the Reset and Grow strategy that MMI announced in September 2018. Diluted normalised headline earnings(1) per share increased by 26% relative to the prior period, marginally better than expectations. This increase should be viewed in the context of poor results for the comparative prior period, but would not have been possible without efficiency improvements as well as appropriate investments in strategies for future growth.

Business Maverick: OPEC to keep oil supply constrained all year

Home Page JTNDZGl2JTIwaWQlM0QlMjJOZ<wbr/>WFyQnV5TGluayUyMiUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUzQ2RpdiUyMGNsYXN<wbr/>zJTNEJTIyY29udGFpbmVyJTIyJTNFJ<wbr/>TBBJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTNDZGl2JTIwc3R5bGUlM0Q<wbr/>lMjJ3aWR0aCUzQSUyMDI2MHB4JTNCJ<wbr/>TIwZGlzcGxheSUzQSUyMHRhYmxlJTN<wbr/>CJTIwdGV4dC1hbGlnbiUzQSUyMGNlb<wbr/>nRlciUzQiUyMG1hcmdpbiUzQSUyMDA<wbr/>lMjBhdXRvJTNCJTIyJTNFJTBBJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTBBJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTNDJTIxLS0lMjBOZWFyJ<wbr/>TIwQnV5JTIwTGluayUyMDElMjAtLSU<wbr/>zRSUwQSUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUwOSUzQ2RpdiUyMHN0e<wbr/>WxlJTNEJTI3ZGlzcGxheSUzQSUyMG5<wbr/>vbmUlM0IlMjclM0UlMEElMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlM0MlMjEtLSUyMHRzaHd<wbr/>pZmkuY29tJTJGaG9tZV9sb2NhbF9sa<wbr/>W5rX2xlZnQlMjAtLSUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUyMCUzQ2RpdiUyMGlkJ<wbr/>TNEJTI3ZGl2LWdwdC1hZC05NDM4MTM<wbr/>yLTEwJTI3JTIwc3R5bGUlM0QlMjdoZ<wbr/>WlnaHQlM0E4MHB4JTNCJTIwd2lkdGg<wbr/>lM0ExMDAlMjUlM0IlMjclM0UlMEElM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlM0NzY3JpcHQ<wbr/>lM0UlMEElMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjBnb<wbr/>29nbGV0YWcuY21kLnB1c2glMjhmdW5<wbr/>jdGlvbiUyOCUyOSUyMCU3QiUyMGdvb<wbr/>2dsZXRhZy5kaXNwbGF5JTI4JTI3ZGl<wbr/>2LWdwdC1hZC05NDM4MTMyLTEwJTI3J<wbr/>TI5JTNCJTIwJTdEJTI5JTNCJTBBJTI<wbr/>w

UPDATE 1-UK Stocks-Factors to watch on May 21

(Adds company news items, futures) May 21 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening 21 points higher at 7,332 on Tuesday, according to financial bookmakers, with futures FFIc1 up 0.38% ahead of the cash market open. * AMRYT PHARMA: Britain's Amryt Pharma AMYT.L has agreed to buy Aegerion Pharmaceuticals, a subsidiary of Novelion Therapeutics NVLN.O , in a deal that reunites the franchise for lomitapide, a treatment for patients with a rare cholesterol disorder. WH SMITH: WH Smith Plc SMWH.L Chief Executive Officer Stephen Clarke has decided to step down, the British books, stationary and newspaper chain said on Tuesday as it reported a rise in third-quarter sales. HALFORDS: British bicycles and car parts retailer Halfords HFD.L on Tuesday reported a 18% fall in annual profit, blaming weak consumer confidence, unhelpful weather and investment in the business.

Vedanta's KCM seeking urgent meeting with Zambian Govt. amid seizure plan

By David McKay - May 20, 2019 Konkola Copper Mines: Nchanga Smelter. VEDANTA would seek an urgent meeting with the Zambian government after it filed notice of plans to seize the Indian firm's copper assets, held in Konkola Copper Mines (KCM). This comes after comments by Zambia's president, Edgar Lungu, on May 17 that the country divorce from the Indian firm's copper assets, and those of Glencore. "KCM is yet to receive formal communication from the Government of Zambia on this, although it has sought an urgent meeting with the President and/or the Minister of Mines," the firm said in a statement today. Glencore declined to comment on the development. Its Mopani Copper Mines issued a statement on May 10 that it was planning to close two of the operation's shaft and instead focus on capital projects. These included the Synclinorium Concentrator, Mindola Deeps shaft and Henderson shaft in Mufulira.

De Beers says rough diamond sales down amid macroeconomic uncertainty

JOHANNESBURG, May 21 (ANA) - Anglo American subsidiary De Beers said on Tuesday rough diamond sales for the fourth cycle of 2019 amounted to $415 million from  $581 million in the third cycle and compared with $554 million during the same period last year..

Trade tensions likely to weigh on the JSE again on Tuesday

The JSE will probably get off to another subdued start on Tuesday as the ongoing trade dispute between the world's two largest economies continues to curb investors' appetite for risk. The all-share index lost 1% on Monday amid light trading volumes, while the US's technology-heavy Nasdaq Composite index fell 1.5% overnight. Stock markets have suffered after US President Donald Trump signed an executive order to blacklist Huawei from the US market. Google then suspended technology co-operation with the telecoms company, further escalating tension between the US and China. Analysts at OCBC Bank in Singapore said while stocks would likely drift lower on Tuesday, tensions between the US and China "may ease slightly today" after American officials said the country would grant a 90-day reprieve on the ban on technology transfers. Hong Kong's Hang Seng Index was 0.2% up on Tuesday and China's Shanghai Composite added 1.5%. Korea's Kospi was 1% higher, while Japan's Nikkei 225 and Australia's main benchmark were both flat. Chinese technology and gaming giant Tencent, which has been on a losing streak since mid-April, rebounded 1.3% on Tuesday morning. That suggests a recovery for major shareholder and JSE-heavyweight Naspers. BHP Group was 0.5% lower in Australia. Meanwhile, Coronation Fund Managers is scheduled to report interim results on Tuesday. Coronation has warned that its headline earnings per share in the half year to end-March fell between 20% and 30%.

Reinet's UK pension bet partially offsets tobacco woes

Johann Rupert's Reinet Investments, which owns about 3% of British American Tobacco (BAT), says an increase in the value of its stake in UK insurer Pension Corporation has partially made up for BAT's share decline. Reinet's net asset value of €4.8bn at the end of March was 5.8% lower than a year before, the company said in its annual financial statements on Tuesday. This mainly reflected the decrease in the share price of BAT to £31.94 from £41.31 over the period, said Rupert, the chairman of Reinet. Reinet also forked out €68m for share buy-backs. "Offsetting these decreases is an increase in the value of Pension Corporation of €175m, dividends received and receivable of €148m from BAT, together with the positive impact of the strengthening of the US dollar and sterling against the euro during the year," Rupert said. Reinet would pay a dividend of €0.19 per share in September, a 5.6% increase, he said. The investment in BAT represented about 52.2% of Reinet's net asset value at the end of March, from 62.4% a year before. Rupert said while BAT "continued its strong underlying performance", its share decline reflected uncertainty stemming from changes in the industry and mooted new regulations. "We are confident that BAT remains an attractive long-term investment and that the current industry challenges will be appropriately managed," he said. Reinet's investment in Pension Corporation, meanwhile, accounted for 30.6% its net asset value. "The outlook remains positive for Pension Corporation as it is very well placed to compete for the ever-increasing pipeline of business coming to market in the UK," Rupert said. The billionaire said investment opportunities were otherwise hard to come by. "With rising debt levels, global uncertainty and political divisions in both the USA and Europe, finding good opportunities for investment can be a challenge and protecting the downside becomes more important," he said. "In times of uncertainty, Reinet's approach is to maintain value for its

5 things you need to know in SA business today and 11 mind-boggling geography facts

1. The first indications about who has been left out of cabinet have emerged: Nomvula Mokonyane, the controversial minister of Environmental Affairs Minister, has been appointed as the "chair of chairs" - a position that oversees parliamentary committees - and therefore won't get a cabinet position again. Mokonyane previously served as minister of water and sanitation.

Axed Fedusa boss George urges affiliates to take up AYO shares

JOHANNESBURG - Axed Federation of Unions of SA general secretary Dennis George yesterday spoke out against his dismissal from the country's second-biggest labour federation, urging affiliates to take up AYO Technology Solutions shares despite negative media publicity. George, who was dismissed with immediate effect on Friday following findings of serious misconduct, said he had spent his entire life as a man of integrity. This as a R4.3billion investment in AYO has come under scrutiny at an inquiry into irregularities at the Public Investment Corporation (PIC).

Trump takes aim at Chinese telcos

Trump takes aim at Chinese telcos The US president bars US companies from using telecoms equipment made by firms said to be posing a national security risk. Read time 5min 50sec US president Donald Trump's announcement aimed at Chinese telecommunications companies dominated the international ICT market last week. At home, the listing of MTN's Nigerian subsidiary in Nigeria was one of the main stories. Key local news * Good year-end figures from MiX Telematics, with revenue up 15.4% and profit up 11.6%. * Mixed year-end figures from Datatec, with revenue up 10.4% but profit down 64.2%; and Vodacom, with revenue up 0.3% but profit down 0.2%. * A positive trading update from ISA. * Vodacom acquired a 51% stake in South African Internet of things specialist IoT.nxt. * Blue Label Telecoms made a 50% investment in Hyve Mobile, a next-generation mobile content and value-added services platform. * Huge Group has agreed to acquire an interest in Pansmart, giving it control over an authorised distributor of Panasonic's voice, video and CCTV products. * StorTech has changed its name to Nexio. Key African news * Mixed year-end figures from Vodacom Tanzania, with revenue up 5.5% but profit down almost 10%. * Microsoft will invest $100 million to open an Africa technology development centre, with sites in Kenya and Nigeria, over the next five years. * MTN Nigeria has commenced its listing on the Nigerian Stock Exchange. * The appointment of Brandon Bekker as Mimecast's SVP for the EMEA region. Key international news * Ahead acquired Link Solutions Group, a company with data centre expertise and experience delivering storage, compute and networking solutions. * Apptio bought Cloudability, a FinOps pioneer and long-time Apptio partner. * Brookfield Asset Management purchased Vodafone's New Zealand business for EUR2.1 billion. * Descartes Systems Group acquired Core Transport Technologies NZ, an electronic transportation network that provides global air carriers and ground handlers wi

Sibanye keeps option to increase Lonmin offer against rival bid

20TH MAY 2019 BY: BLOOMBERG SAVE THIS ARTICLE EMAIL THIS ARTICLE FONT SIZE: -+ Sibanye Gold reiterated that its increased offer for Lonmin Plc is final, but kept its option open to sweeten the deal for the platinum producer should a rival bid emerge. While its current offer "is final and will not be increased", the company "reserves the right to set aside the no increase statement if a competitive situation arises," Sibanye said in a statement Monday. James Wellsted, a spokesman for the Westonaria-based miner, declined to comment further. ADVERTISEMENT "If somebody comes in with a higher bid, they are saying they will increase the offer," said Rene Hochreiter, an analyst at Noah Capital Markets. "The problem is I don't see anybody coming in with a competitive bid." While the acquisition is key to the expansion strategy of Sibanye CEO Neal Froneman, the all-share deal has come under scrutiny as Lonmin returned to profit after years of losses.

GLOBAL MARKETS-Global stocks rally as U.S. eases Huawei...

(Adds U.S. market open, byline, dateline; previous LONDON) * European stocks with Asian exposure rise, chipmakers gain * Dollar rises as trade war hits Asian economies * U.S. yields rise as stocks advance on Huawei news * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh By Herbert Lash NEW YORK, May 21 (Reuters) - Global equity markets rose on Tuesday, led by chipmakers and companies exposed to Asia, after the United States temporarily eased trade restrictions imposed on China's Huawei Technologies HWT.UL , while the dollar rose on a flight to quality. Major European stock markets rose and Chinese indices gained more than 1 percent after the Commerce Department late on Monday allowed Huawei to buy U.S.

5 Ways To Market Your New Business With No Budget

The thought of marketing your business might seem expensive and overwhelming. The good news is that creating brand awareness today is affordable. Here's how Being a business person is not as glamorous as social media makes us believe.

Smile Telecoms Appoints New Group Chief Executive Officer

Smile Telecoms , a Pan-African telecommunications group with operations in Nigeria, Uganda, Tanzania and the Democratic Republic of the Congo, today announces the appointments of Mr. Ahmad Farroukh as Group Chief Executive Officer and Ms. Irene Charnley as Deputy Chairman, respectively, effective 1 June 2019.

De Beers says rough diamond sales down amid macroeconomic uncertainty

Anglo American subsidiary De Beers said on Tuesday rough diamond sales for the fourth cycle of 2019 amounted to $415 million from $581 million in the third cycle and compared with $554 million during the same period last year. De Beers CEO Bruce Cleaver said: "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the 21 May 2019 Indian factories closing temporarily for the traditional holiday period." De Beers specialises in diamond exploration, mining, retail, trading and industrial diamond manufacturing sectors. The company is active in open-pit, large-scale alluvial, coastal and deep-sea mining.

WATCH: Rand trades steady overnight

{ @context: http:schema.org @type: VideoObject name: IOL video description: IOL video thumbnailUrl: https:inmbaobabprodeuwest1.s3.amazonaws.compublicinmiolmediavideo<wbr/>2019052123659489036_3_3.31_May21219.0000003.jpg uploadDate: duration: 00:00:42.095 publisher: { @type: Organization name: IOL logo: { @type: ImageObject url: } } contentUrl: https:inmbaobabprodeuwest1.s3.amazonaws.compublicinmiolmediavideo<wbr/>2019052123659489036_3_3.31_May21219.mp4 embedUrl: https:video.iol.co.zavideo1buildEnvelopec291<wbr/>cmNlPUlPTCZ2aWRlb1VybD1odHRwcz<wbr/>ovL2lubS1iYW9iYWItcHJvZC1ldS13<wbr/>ZXN0LTEuczMuYW1hem9uYXdzLmNvbS<wbr/>9wdWJsaWMvaW5tL2lvbC9tZWRpYS92<wbr/>aWRlby8yMDE5LzA1LzIxLzIzNjU5ND<wbr/>g5LzAvMzZfM18zLjMxX01heTIxMjE5<wbr/>Lm1wNCZzdGFuZEFsb25lPXRydWU}(function(isogram){iGoogleAnalyticsObjectr;irirfunction(){(ir.qir.q).push(arguments)}ir.l1*new Date();as.createElement(o)ms.getElementsByTagName(o)0;a.async1;a.srcg;m.parentNode.insertBefore(am)})(windowdocumentscripthttps:www.googleanalytics.comanalytics.jsga);ga(create UA177108381 auto); To view this video please enable JavaScript and consider upgrading to a web browser that supports HTML5 video var player videojs(player1558421325273 { plugins: { brand: { image: cdn.mojoreporter.comvideojsimigino30.png title: Imigino Streaming Video destination: https:www.publisherstoolbox.comimigino destinationTarget: _blank } embed:{ embeddable: true location: https:video.iol.co.zavideo1buildEnvelopec291<wbr/>cmNlPUlPTCZ2aWRlb1VybD1odHRwcz<wbr/>ovL2lubS1iYW9iYWItcHJvZC1ldS13<wbr/>ZXN0LTEuczMuYW1hem9uYXdzLmNvbS<wbr/>9wdWJsaWMvaW5tL2lvbC9tZWRpYS92<wbr/>aWRlby8yMDE5LzA1LzIxLzIzNjU5ND<wbr/>g5LzAvMzZfM18zLjMxX01heTIxMjE5<wbr/>Lm1wNCZzdGFuZEFsb25lPXRydWU } ga: { eventsToTrack: sta

ANGLO AMERICAN PLC - Anglo American rough diamond sales value for De Beers' fourth sales cycle of 2019

AGL 201905210009A Anglo American rough diamond sales value for De Beers' fourth sales cycle of 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 21 May 2019 Anglo American rough diamond sales value for De Beers' fourth sales cycle of 2019 Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' fourth sales cycle of 2019, amounting to $415 million. Bruce Cleaver, CEO, De Beers Group, said: ‘Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the 21 May 2019 Indian factories closing temporarily for the traditional holiday period.' industry with Cycle 4 2019(1) Cycle 3 2019(2) Cycle 4 2018 (provisional) (actual) (actual) Sales value(3) $415m $581m $554m (1) Cycle 4 2019 provisional sales value represents sales as at 20 May 2019. (2) Cycle 3 2019 actual sales value is restated following the earlier publication of a provisional figure for the third sales cycle of 2019. (3) Sales values are quoted on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle. For further information, please contact: Media Investors UK UK James Wyatt-Tilby Paul Galloway james.wyatt-tilby@angloamerican.com paul.galloway@angloamerican.com Tel: +44 (0)20 7968 8759 Tel: +44 (0)20 7968 8718 Marcelo Esquivel Robert Greenberg marcelo.esquivel@angloamerican.com robert.greenberg@angloamerican.com Tel: +44 (0)20 7968 8891 Tel: +44 (0)20 7968 2124 South Africa Emma Waterworth Pranill Ramchander emma.waterworth@angloamerican.com pranill.ramchander@angloamerican.com Tel: +44 20 7968 8574 Tel: +27 (0)11 638 2592 Ann Farndell ann.farndell@angloamerican.co

Anglo American installs underground Wi-Fi

Anglo American recently introduced underground Wi-Fi at its coal mining operations in Mpumalanga. Goedehoop Colliery recently became the coal division's second operation to introduce wireless communication infrastructure and smartphones at its 4 million tonne per annum Simunye Shaft. Zibulo Colliery was the first South African Anglo American coal mine to introduce the technology in 2016. Traditionally, coal mines use fixed underground telephones, which frequently require a long walk or drive to reach.

De Beers's rough diamond sales fall further

The fourth sale of the year is the lowest for the May period since 2016, the company is blaming macroeconomic uncertainty and a seasonal slowdown De Beers's sales of $415m from its fourth sale of the year were by far the lowest for a May event since the largest producer of rough diamonds by value first released sales data in 2016. De Beers, which is 85% owned by Anglo American, has 10 sales events called sights every year when a handpicked group of about 80 buyers collect their diamonds from the Botswana capital Gaborone. In the latest data, De Beers noted it had realised $415m from its sights and auctions of rough diamonds, which was well below the previous low of $522m realised in the May sales of 2017 and nowhere close to the $636m high achieved in 2016. "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the industry with Indian factories closing temporarily for the traditional holiday period," said CEO Bruce Cleaver. India is the largest source of rough diamond demand, particularly for smaller diamonds, which are cut and polished in the country. The global diamond market has experienced slowing demand for smaller diamonds, which make up the bulk of diamond mines' production. "Liquidity is tight, as Indian credit lines declined after the March 31 fiscal year-end. Manufacturers reduced rough purchases in the first quarter, hoping to ease liquidity concerns by depleting polished stock," diamond market specialist Rapaport said earlier in May. "Combined rough sales by De Beers and Alrosa dropped 19% by volume and an estimated 30% by value in the first quarter," it said. Year-to-date sales by De Beers now total $1.99bn compared with more than $2.3bn in the same period in the previous two years and $2.46bn in 2016. De Beers's first-quarter production fell by 8% to 7.9-million carats, a decline the company said was largely a result of the switch to underground mining at the $2bn Venetia operation in SA. It n

Axed Fedusa boss George urges affiliates to take up AYO shares

JOHANNESBURG Axed Federation of Unions of SA general secretary Dennis George yesterday spoke out against his dismissal from the countrys secondbiggest labour federation urging affiliates to take up AYO Technology Solutions shares despite negative media publicity.George who was dismissed with immediate effect on Friday following findings of serious misconduct said he had spent his entire life as a man of integrity.This as a R4.3billion investment in AYO has come under scrutiny at an inquiry into irregularities at the Public Investment Corporation (PIC).I have fought against corruption and I continue to do so. I am shocked that such disinformation and deliberate misrepresentation of my position in the facilitation of AYO Technology shares to workers is being misconstrued he said.George who has led the union for more than two decades allegedly purchased AYO shares at a significantly reduced rate.His company Difeme Holdings was believed to have received prelisting AYO shares at R1.50 while the PIC paid R43 a share.George said he had engaged Fedusa affiliates such as the Public Servants Association and the National Union of Leather Workers in numerous meetings and correspondence since the allocation of the 11million Difeme shares to them.My motivation was simply that these shares would assist Fedusa affiliates in building worker participation in the economy that the affiliates would be financially strengthened and that workers would have representation on the board of the largest black information and communication technology company in the country AYO said George.George was placed on suspension in February and the federation hired external investigators to probe allegations that Fedusa owned shares in AYO.On Friday Fedusa said it unanimously decided to dismiss George after recommendations made by an independent chairperson on findings of serious misconduct.The federation said he entered into arrangements with AYO without its knowledge. It was not aware that George housed AYO shares in his com

Hammerson CFO Drakesmith resigns after eight years in role

May 21 (Reuters) - British shopping centre operator Hammerson Plc said on Tuesday its chief financial officer, Timon Drakesmith, had resigned after eight years in the role. Drakesmith will continue to be a member of the board until he leaves later this year, Hammerson said, adding that it would begin the search for a new CFO. (Reporting by Sangameswaran S in Bengaluru; editing by Gopakumar Warrier) 2019-05-21 10.

REDEFINE PROPERTIES LIMITED - Interest payment notifications: RDFB05, RDFB09, RDFB12, RDFB15 and RDFC43

RDFB05 RDFB12 RDFB09 RDFC43 RDFB15 201905210024A Interest payment notifications: RDFB05, RDFB09, RDFB12, RDFB15 and RDFC43 REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration no: 1999/018591/06) Company code: BIRDF (Approved as a REIT by the JSE) INTEREST PAYMENT NOTIFICATIONS: RDFB05, RDFB09, RDFB12, RDFB15 AND RDFC43 In accordance with the terms and conditions of the R30 000 000 000 Domestic Medium-Term Note Programme dated 23 August 2018, noteholders are advised of the following information in respect of interest payments: Bond code: RDFB05 ISIN: ZAG000121856 Interest period: 27 February 2019 to 26 May 2019 Coupon rate: 9.15% Capital amount due: - Interest amount due: R11 177 790.41 Interest payment date: 27 May 2019 Date convention: Modified following business day** Bond code: RDFB12 ISIN: ZAG000148594 Interest period: 27 February 2019 to 26 May 2019 Coupon rate: 8.8% Capital amount due: - Interest amount due: R4 291 506.85 Interest payment date: 27 May 2019 Date convention: Following business day* Bond code: RDFB09 ISIN: ZAG000141201 Interest period: 4 March 2019 to 2 June 2019 Coupon rate: 9% Capital amount due: - Interest amount due: R18 623 835.62 Interest payment date: 3 June 2019 Date convention: Modified following business day** Bond code: RDFC43 ISIN: ZAG000151861 Interest period: 4 March 2019 to 3 June 2019 Coupon rate: 8.1% Capital amount due: - Interest amount due: R5 104 109.59 Interest payment date: 4 June 2019 Date convention: Following business day* Bond code: RDFB15 ISIN: ZAG000155854 Interest period: 5 March 2019 to 4 June 2019 Coupon rate: 8.75% Capital amount due: - Interest amount due: R14 247 397.26 Interest payment date: 5 June 2019 Date convention: Following business day* *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. **The same rule as above applies. However, if the first business day after the weekend or public hol

Business Development Manager urgently needed: Salary R41 667 to R50 000 Per Month

Vacancy Details Employer: Mass Staffing Projects Stop, and take a look if you are a Business Development Manager, this is a fantastic opportunity to be a part of a very successful company in the clearing & forwarding industry. Requirements: Loading... Degree or Diploma 5+ years' experience Clearing & forwarding industry experience Proven sales track record Correspondence will only be conducted with short listed candidates, should you not hear from us in 3 days, please consider your application unsuccessful.

Vodacom installs solar power system in Randburg

Vodacom has installed solar panels capable of generating up to 34kW of power to supplement the power supply of its Randburg base station controller in Johannesburg. The installation will help generate more than 50,000kWh of energy every year to power the hardware and will reduce the base station controller's reliance on batteries in the event of load-shedding. Vodacom said the development is aimed at reducing its carbon footprint and improving network reliability and operational costs during periods of load-shedding. The company added that the most notable feature of the solar power system is its ability to reduce the load on the station controller's batteries when electricity from the national grid is unavailable. "The continuation of our investment in cleaner sources of energy shows Vodacom's commitment to the sustainable growth of our operation and sustainability strategy where the protection of our planet remains key," said Vodacom Group chief officer for corporate affairs Takalani Netshitenzhe. "In the past, we've installed solar panels at Vodacom offices as well as in our network infrastructure, however using solar energy to power our base station controllers is an area of opportunity for us." Netshitenzhe added that Vodacom plans to roll out more solar power installations to base station controllers across the country in the near future. Vodacom currently has over 950 solar base station sites across its operations in Africa..

De Beers says rough diamond sales down amid macroeconomic uncertainty

JOHANNESBURG, May 21 (ANA) - Anglo American (LON:AAL) subsidiary De Beers said on Tuesday rough diamond sales for the fourth cycle of 2019 amounted to $415 million from $581 million in the third cycle and compared with $554 million during the same period last year. "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the 21 May 2019 Indian factories closing temporarily for the traditional holiday period," De Beers CEO Bruce Cleaver said. De Beers specialises in diamond exploration, mining, retail, trading and industrial diamond manufacturing sectors. The company is active in open-pit, large-scale alluvial, coastal and deep sea mining. - African News Agency (ANA), Editing by Stella Mapenzauswa.

7 things you need to know today

CAPE TOWN Good morning. This is all the latest business news that you need to know today.  1. Rhodes Food interim operating profit rises 6% to R173m Rhodes Food on Tuesday reported an improved performance for the six months to March with operating profit up six percent to R173 million while turnover increased by 9.3 percent to R2.7 billion.

MIDEAST STOCKS-Banks boost Saudi, all major Gulf markets gain

May 21 (Reuters) - Saudi Arabia's stock market rose on Tuesday, boosted by its banking shares, while all major Gulf markets rebounded from recent sell-offs, in line with Asian shares. Saudi's index increased 0.6% in early trade, with Al Rajhi Bank adding 1.2% and Saudi Basic Industries up 0.9%. MSCI last week said it would include MSCI Saudi Arabia in its emerging-markets index, effective May 28, a move that could draw billions of dollars into the market.

The Loeries Travelling Exhibition stops at Red & Yellow School of Logic and Magic this May

Be inspired by the best " data-lazyauto="true"> The Loeries Travelling Exhibition is a captivating showcase of 2018's award-winning creative work from across Africa and the Middle East. The exhibition will be at Red & Yellow School of Logic and Magic, Cape Town, from May 27 to 31, 2019.   " data-lazyauto="true"> For anyone studying advertising, design and other aspects of the brand communication industry, it's a fantastic chance to be inspired by the best work from our continent. Also, for anyone planning to enter the Loeries this year, it's the last opportunity to see past winners as a guide to your own entries.    "The creative economy offers so much potential for our economy - the opportunity to employ our talented youth and to turn their ideas into something valuable, while creating revenue," says Loeries CEO Andrew Human. "I hope this exhibition inspires talented youngsters to follow their heart and make their passion their career."    The Loeries Extended-Extended entry deadline is 7 June (although all work must still be launched, flighted or published by 31 May 2019 to be eligible) and Creative Week takes place from 19-25 August.

RESILIENT REIT LIMITED - RES34 RES35 and RES41 - Interest Payment Notifications

RES34 RES35 RES41 201905210035A RES34 RES35 and RES41 - Interest Payment Notifications Resilient REIT Limited (Incorporated in the Republic of South Africa) (Registration No. 2002/016851/06) Company code: BIRPIF (Approved as a REIT by the JSE) Bond code: RES34 ISIN: ZAG000138918 Bond code: RES35 ISIN: ZAG000138926 Bond code: RES41 ISIN: ZAG000148628 (‘Resilient') INTEREST PAYMENT NOTIFICATIONS Bondholders are advised of the following interest payments due 27 May 2019: Bond code: RES34 ISIN: ZAG000138918 Coupon: 8.930% Interest amount due: ZAR 5 521 431.23 Bond code: RES35 ISIN: ZAG000138926 Coupon: 9.050% Interest amount due: ZAR 5 979 198.63 Interest period: 25 February 2019 to 26 May 2019 Payment date: 27 May 2019 Date Convention: Following Business Day Bondholders are advised of the following interest payment due 30 May 2019: Bond code: RES41 ISIN: ZAG000148628 Coupon: 8.800% Interest period: 28 February 2019 to 29 May 2019 Interest amount due: ZAR 3 751 693.15 Payment date: 30 May 2019 Date Convention: Following Business Day 21 May 2019 Debt Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 21/05/2019 12:10:00 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.

#AfricaMonth: Encouraging female African business leaders from the other side of the world

US-based real estate entrepreneur Rokelle Sun's philanthropic mission is to encourage young girls to pursue careers and success in the underrepresented fields, particularly in Africa, where she spent part of her childhood. She explains this, as well as her love of new experiences like aerophotography, and some of the highs and lows of her earlier career as a multilingual broadcast journalist. " data-lazyauto="true"> Multilingual broadcast journalist-turned-real estate entrepreneur, Rokelle Sun.

China has what Ukraine wants: Business for its military factories.

ZAPORIZHIA, Ukraine —The president of a top Ukrainian aerospace company says its new Chinese investors often ask the staff for "little conversations." They want to know about record-keeping and planning, the setup of production lines and the interplay between workshops. "They'll talk for three hours, and the next day, a totally different group of people will come," said Vyacheslav Boguslayev, whose sprawling Soviet-era company, Motor Sich, is one of the most advanced military aircraft engine manufacturers in the world. "They'll ask all the same questions as yesterday, and this continues for a week," he said.

UPDATE 1-Majestic Wine says retail business attracts many suitors

(Adds analyst comment, background, updates share move) May 21 (Reuters) - Majestic Wine said on Tuesday multiple suitors had shown interest in its retail business, a month after Britain's largest specialist wine retailer said it was looking to sell the unit to focus online. Majestic Wine shares were 3.6% higher at 275.5 pence at 0940 GMT. Britain's traditional store groups are facing the brunt of rising property taxes and sluggish consumer spending adding to competitive pressures from online rivals and discount chains.

JSE firms a little as miners cheer weaker rand

The trade conflict between the US and China continues to weigh on sentiment, but a slightly weaker rand is boosting miners Miners and rand hedges helped lift the JSE a little on Tuesday, with the rand weaker ahead of what could be a volatile few sessions. The US-China trade war continues to dominate the spotlight, with Asian markets pushing a little higher on Tuesday after US officials said they would grant a number of temporary exceptions to the blacklisting of Huawei. This has given a number of suppliers and customers a reprieve against tough trade penalties imposed by the US, reported Dow Jones Newswires. The rand was slightly weaker on Tuesday morning as well, helping to support local miners. The rand was reacting to a stronger dollar, boosted by the softer tone regarding Huawei. There were also a number of positive earnings reports to cheer the JSE, with MMI jumping 4.56% to R18.10 after saying that diluted normalised headline earnings, its main earnings measure, rose 19% to R2.4bn in the nine months to end-March. At 10am the all share was up 0.3% to 55,784.7 points and the top 40 0.33%.

More evidence of Dan Matjila overriding the PIC's investment processes

Former PIC CEO said to have signed off on an investment worth billions before the transaction was presented to the PIC. 25 mins ago The former chief executive of the Public Investment Corporation (PIC) Dan Matjila signed his approval for the investment of R3 billion in Iqbal Survé's Sagarmatha Technologies prior to the deal going through the PIC's investment committees. Survé's Sekunjalo Investment Holdings had approached the PIC to participate in its listing of Sagarmatha on the JSE.

How technology is changing the business landscape in Rwanda

Hot off the heels of the Transform Africa Summit that took place in Kigali last week, speaks to an IT entrepreneur Ernest Kayinamura, CEO of Hexakomb whom has being navigating the ICT sector in Rwanda for the past 7 years, about the deals being signed as Rwanda barrels towards being a knowledge-based economy. https://www.cnbcafrica.com/videos/... The post appeared first on CNBC Africa ..

Vodacom opts for solar power

Vodacom has installed solar panels capable of generating up to 34kW of power, which will supplement the energy supply of its Randburg base station controller. The new solar panels will help generate more than 50 000kWh of energy on an annual basis to power the Randburg base station controller. The base station, through solar energy generated by the newly installed solar panels, will help reduce carbon footprint, lower its electricity usage and reduce the base station controller's reliance on batteries, in the event of load-shedding.

RESILIENT REIT LIMITED - RES34 RES35 and RES41 - Interest Payment Notifications

Risk Disclosure: will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors.

Rhodes Food Group reports slight decline in net profit

Rhodes Food Group, which makes Bull Brand corned meat and Bisto gravies, says profit after tax was slightly down in the six months to end-March despite better sales.  Rhodes Food Group, which makes Bull Brand corned meat and Bisto gravies, says profit after tax was slightly down in the six months to end-March despite better sales. The group made a net profit of R80.2m, from R80.9m previously, while turnover rose 9.3% to R2.7bn. Margins were slightly weaker because of lower international selling prices of deciduous canned fruit products as a result of "drought-related quality issues" , the group said.

BID CORPORATION LIMITED - Capital Markets Trading Update

Capital Markets Trading Update Bid Corporation Limited (Incorporated in the Republic of South Africa) Registration number: 1995/008615/06 Share code: BID ISIN ZAE 000216537 ("Bidcorp" or "the Company" or "Group") Capital Markets Trading Update - May 21st 2019 Shareholders are advised that the Bidcorp executive management are meeting with members of the financial community (including shareholders, financial analysts and the press) today, May 21st 2019, to update the market on the trading environment across its international operations. Bidcorp's UK logistics activities remain classified as discontinued operations. The following update deals with the continuing and discontinued operations separately.

Department of Labour's Compensation Fund on an ICT modernisation journey to fast track ease of doing business - CF Commissio

The Compensation Fund (CF) will in September introduce a new electronic Compensation for Occupational Injuries and Diseases (e-COID) claims management solution - intended to improve the ease of doing business, said Compensation Fund Commissioner, Vuyo Mafata. Mafata said the organisational restructuring started more than two years ago following the massive backlogs in claims process was beginning to yield results. He said the CF has during the period embarked in a process of decentralisation of its services, opened new claims processing centres, appointed medical adjudicators in its processes and moved to online platforms.

OCEANA GROUP LIMITED - 2013 Share Plan: Dealings in Securities

Wrap Text 2013 Share Plan: Dealings in Securities OCEANA GROUP LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1939/001730/06) JSE share code: OCE NSX share code: OCG ISIN: ZAE000025284 ("Oceana" or the "Company") OCEANA GROUP LIMITED 2013 SHARE PLAN: DEALINGS IN SECURITIES In compliance with paragraphs 3.63 - 3.74 of the Listings Requirements of JSE Limited ("the JSE"), shareholders are advised that Oceana has offered the following Restricted Shares ("Restricted Shares") to the following directors of the Company, the Company Secretary and directors of major subsidiaries of the Company ("the Participants"), as set out below. Restricted Shares are settled after three years from the offer date subject to the Participant still being in the employment of the Company. The offers were accepted on 20 May 2019. The Restricted Shares offered may be summarised as follows: Name Position No of Restricted Shares awarded I Soomra Director 72 623 L De Waal Director of a major subsidiary 18 170 S Salie Director of a major 19 650 subsidiary P Freese Director of a major subsidiary 7 329 S Naidoo Director of a major subsidiary 1 500 JM Marais Company Secretary 16 839 The following are applicable to the above: Class of underlying security to which rights attach Ordinary shares Restricted Share award price per share Rnil (not applicable) Nature of transaction Off-market allocation of Restricted Shares Restricted Shares vesting Third anniversary of the period offer date Nature of interest Direct beneficial In accordance with secti

REBOSIS PROPERTY FUND LIMITED - New Financial Instrument REBC15

REBC15 201905210041A New Financial Instrument REBC15 REBOSIS PROPERTY FUND LIMITED Stock code: REBC15 ISIN code: ZAG000159716 New Financial Instrument Listing Announcement The JSE Limited has granted a listing to REBOSIS PROPERTY FUND LIMITED on Interest Rate Market with effect from 21 May 2019 under its Domestic Medium Term Note Programme dated 12 May 2015. INSTRUMENT TYPE: FLOATING RATE NOTE Authorised Programme size: R 3,000,000,000.00 Total Notes Outstanding: R 40,000,000.00 (inclusive of this issue) Bond Code REBC15 Nominal Issued R 19,000,000.00 Issue Price 100% Coupon 8.658% (3 Month JIBAR as at 17 May 2019 of 7.158% plus 150 bps) Coupon Rate Indicator Floating Trade Type Price Final Maturity Date 21 November 2019 Books Close Date(s) 11 November, 11 August Interest Payment Date(s) 21 November, 21 August Last Day to Register By 17:00 on 10 November, 10 August Issue Date 21 May 2019 Date Convention Modified Following Interest Commencement Date 21 May 2019 First Interest Payment Date 21 August 2019 ISIN No. ZAG000159716 Additional Information Senior Unsecured Floating Rate Notes Applicable Pricing Supplement https://www.jse.co.za/content/JSEPricingSupplementsItems/2014/BondDocuments/REBC15%20Pricing%20Suppleme nt%20Notes_(10024835_1).PDF The 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: Denzil Bagley Nedbank Limited +27 11 2943431 Corporate Actions JSE +27 11 5207000 Date: 21st May 2019 Debt Sponsor: Nedbank CIB, a division of Nedbank Limited Nedbank Group Limited Internal Use Only Date: 21/05/2019 01:21:00 Produced by the JSE SENS Department.

REINET INVESTMENTS S.C.A - Reinet Investments S.C.A. ("Reinet") dividend dates in respect of ordinary shares listed on the J

Wrap Text Reinet Investments S.C.A. ("Reinet") - dividend dates in respect of ordinary shares listed on the JSE Reinet Investments S.C.A. (Incorporated in Luxembourg) ISIN: LU0383812293 JSE share code: RNI REINET INVESTMENTS S.C.A. ("REINET") - DIVIDEND DATES IN RESPECT OF ORDINARY SHARES LISTED ON THE JOHANNESBURG STOCK EXCHANGE The dividend payable to holders of Reinet ordinary shares listed on the Johannesburg Stock Exchange ("Reinet South African Shares") is payable in rand via central security depository participants in Strate for all holdings of dematerialised Reinet South African Shares. Reinet has recommended a total dividend of EUR 0.19 per share from income reserves.

#AfricaMonth: Africa's top leisure destinations for business travellers

Biz Community's #AfricaMonth couldn't have come at a better time. The South African government has prioritised domestic tourism as a means to improving the country's tourism product and growing foreign arrivals and investment while renewing its commitment to increasing visa-free travel in Africa. These priorities are vital to the sustainability of our tourism industry and emerging outbound markets on the continent.

CAPITEC BANK HOLDINGS LIMITED - Dealing In Securities By An Associate Of A Director

Wrap Text Dealing In Securities By An Associate Of A Director CAPITEC BANK HOLDINGS LIMITED Incorporated in the Republic of South Africa (Registration number: 1999/025903/06) Share Code: CPI ISIN Number: ZAE000035861 DEALING IN SECURITIES BY AN ASSOCIATE OF A DIRECTOR In compliance with rules 3.63 to 3.74 of the JSE Limited Listings Requirements, the following information, relating to the dealing in securities by an associate of a director is disclosed: NAME OF DIRECTOR M S du P le Roux NAME OF ASSOCIATE Potvier Proprietary Limited DIRECTOR'S RELATIONSHIP WITH Mr Le Roux is a director of the ASSOCIATE holding company of Potvier Proprietary Limited and a trustee and beneficiary of the controlling shareholder of the holding company COMPANY OF WHICH HE IS A DIRECTOR Capitec Bank Holdings Limited STATUS: EXECUTIVE/NON-EXECUTIVE Non-Executive Director CLASS AND TYPE OF SECURITIES Ordinary shares DATE OF TRANSACTION 17 May 2019 PRICE PER SECURITY (RAND) 1 332.05 High 1 324.51 Low 1 326.74 Ave NUMBER OF SECURITIES TRANSACTED 1 260 TOTAL RAND VALUE OF SECURITIES TRANSACTED R1 671 694.72 NATURE OF TRANSACTION Purchase of shares by an associate of a director(on- market transaction) NATURE AND EXTENT OF THE DIRECTOR'S INTEREST IN THE Indirect, beneficial TRANSACTION Stellenbosch 21 May 2019 Sponsor PSG Capital Date: 21/05/2019 08:45:00 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 o

Doubling of SO2 emissions contested

South Africas air pollution standards are already lax and expose people in many parts of the country to its severe impacts.And allowing major industrial polluters such as Eskom and Sasol to double their harmful sulphur dioxide (SO2) pollution will only exacerbate the already dire situation and amplify existing violations of Section 24 of the Constitution.This is the argument put forward by environmental justice group groundWork which has hauled Minister of Environmental Affairs Nomvula Mokonyane and President Cyril Ramaphosa to court for weakening standards for the notorious pollutant without consultation. Sulphur dioxide is harmful to human health and wellbeing and causes severe environmental damage including acid rain says director Bobby Peek.In October thenacting environmental affairs minister Derek Hanekom doubled the SO2 standards from 500mg per normal cubic meter to 1000mgNm3 as an amendment to the countrys minimum emission standards (MES) without first publishing the proposed doubling of the SO2 standard for comment as law requires.The weakening of the standards gazetted by the minister would allow all coalfired boilers to emit double their previouslyallowed SO2 pollution from April 1 2020 says its attorneys the Centre for Environmental Rights (CER).This includes the already heavilypolluted Vaal Highveld and Waterberg Priority Areas where coal pollution kills thousands of people every year.Had these proposed amendments been published for comment groundWork and other NGOs would have strenuously objected to weakening the SO2 MES.Although other proposed changes to the relevant law were made available for comment last May there was no indication that any changes were being considered in relation to the MES for coalfired boilers. In establishing the MES Peek notes in his founding affidavit the minister recognised that SO2 emissions have a significant detrimental effect on the environment including health social conditions economic conditions ecological conditions or cultural heritage.T

Son helps us stay strong

When Nadine and I drove home after the first operation we had been told that Sheldon might not survive the night. I didnt know what to say because I wasnt sure how Nadine was feeling and whether she wanted to talk about it. Everybody has their own way of dealing with these kinds of traumatic experiences.

HAMMERSON PLC - Amended: TR-1: Standard form for notification of major holdings

HMN 201905210038A Amended: TR-1: Standard form for notification of major holdings Hammerson plc (Incorporated in England and Wales) (Company number 360632) LSE share code: HMSO JSE share code: HMN ISIN: GB0004065016 (‘Hammerson' or ‘the Company') Amended: TR-1: Standard form for notification of major holdings Shareholders are referred to the announcement released on 21 May 2019 and are advised of the amended TR-1 form. NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i 1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are at- Hammerson Plc tachedii: 1b. Please indicate if the issuer is a non-UK issuer (please mark with an ‘X' if appropriate) UK issuer X 2.

World stock markets gain on US easing Huawei restrictions

European stocks with Asian exposure and chip makers gain the most as sterling falls below $1.27 for first time since mid-January London — Stocks markets gained on Tuesday, with chip makers and stocks exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed on China's Huawei last week. In Europe, the broader Euro Stoxx 600 edged up 0.3%, with Germany's DAX 30 rising 0.6%, while France's CAC 40 climbed 0.2%. At the close, China's Shanghai Composite index was up 1.23%, while the blue-chip CSI300 index ended 1.35% higher. US President Donald Trump's government added Huawei to a trade blacklist last week, escalating trade tensions between the world's two biggest economies.

Absa Group migrates subsidiaries' digital channels from UK to South Africa

JOHANNESBURG, May 21 (ANA) - Banking group Absa said on Tuesday it had to date migrated its digital channels and its account origination applications used by 10 African subsidiaries from the Barclays (LON:BARC) Plc data centre in the United Kingdom to its own data centre in South Africa. Barclays reduced its shareholding in Absa Group from a majority stake to a minority stake in 2017. As a consequence, Barclays and Absa are gradually separating their operations. On Tuesday Absa said the latest project undertaken on May 18-19, following on from the completion of the core banking system migration of six subsidiaries in April, unlocked further benefits including upgraded infrastructure and new customer interfaces in some instances.

Pioneer shares hit by 14% drop in earnings

Pioneer Foods plummeted more than 15 percent in early trade on the JSE after the packaged goods company reported a 14 percent decline in earnings..

MMI Holdings says has made good progress with growth strategy

JOHANNESBURG Financial services group MMI Holdings said on Tuesday that its thirdquarter financial results reflected good progress with its Reset and Grow strategy announced last September. MMI Holdings which is listed on the Johannesburg Stock Exchange said diluted normalised headline earnings per share increased by 26 percent compared with the prior period marginally better than expectations. "This increase should be viewed in the context of poor results for the comparative prior period but would not have been possible without efficiency improvements as well as appropriate investments in strategies for future growth" it said.

REDEFINE PROPERTIES LIMITED - Interest payment notifications: RDFB05, RDFB09, RDFB12, RDFB15 and RDFC43

Release Date: 21/05/2019 10:57 Code(s): RDFB05 RDFB12 RDFB09 RDFC43 RDFB15 PDF: Wrap Text Interest payment notifications: RDFB05, RDFB09, RDFB12, RDFB15 and RDFC43 REDEFINE PROPERTIES LIMITED (Incorporated in the Republic of South Africa) (Registration no: 1999/018591/06) Company code: BIRDF (Approved as a REIT by the JSE) INTEREST PAYMENT NOTIFICATIONS: RDFB05, RDFB09, RDFB12, RDFB15 AND RDFC43 In accordance with the terms and conditions of the R30 000 000 000 Domestic Medium-Term Note Programme dated 23 August 2018, noteholders are advised of the following information in respect of interest payments: Bond code: RDFB05 ISIN: ZAG000121856 Interest period: 27 February 2019 to 26 May 2019 Coupon rate: 9.15% Capital amount due: - Interest amount due: R11 177 790.41 Interest payment date: 27 May 2019 Date convention: Modified following business day** Bond code: RDFB12 ISIN: ZAG000148594 Interest period: 27 February 2019 to 26 May 2019 Coupon rate: 8.8% Capital amount due: - Interest amount due: R4 291 506.85 Interest payment date: 27 May 2019 Date convention: Following business day* Bond code: RDFB09 ISIN: ZAG000141201 Interest period: 4 March 2019 to 2 June 2019 Coupon rate: 9% Capital amount due: - Interest amount due: R18 623 835.62 Interest payment date: 3 June 2019 Date convention: Modified following business day** Bond code: RDFC43 ISIN: ZAG000151861 Interest period: 4 March 2019 to 3 June 2019 Coupon rate: 8.1% Capital amount due: - Interest amount due: R5 104 109.59 Interest payment date: 4 June 2019 Date convention: Following business day* Bond code: RDFB15 ISIN: ZAG000155854 Interest period: 5 March 2019 to 4 June 2019 Coupon rate: 8.75% Capital amount due: - Interest amount due: R14 247 397.26 Interest payment date: 5 June 2019 Date convention: Following business day* *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. **The same rule as above applies. However, if the first

BARLOWORLD LIMITED - Preference dividend no.166

Wrap Text Preference dividend no.166 Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) ("Barloworld" or "the Company") PREFERENCE DIVIDEND NO.166 Notice is hereby given that preference dividend number 166 at a rate of 6% per annum in respect of the interim period ended 31 March 2019 has been declared on 21 May 2019, to all preference shareholders. In accordance with paragraphs 11.17 (a) (i) to (x) and 11.17(c) of the JSE Listings Requirements the following additional information is disclosed: • The dividend has been declared out of income reserves; • Local dividends tax rate is 20% (twenty per centum); • Gross local dividend amount is 6 cents per preference share; • Net local dividend amount is 4.80 cents per preference share; • Barloworld has 375 000 non-redeemable preference shares of R2 each in issue; In compliance with the requirements of Strate and the JSE Limited, the following dates are applicable: Dividend declared Tuesday, 21 May 2019 Last day to trade cum dividend Tuesday, 18 June 2019 Preference Shares trade ex-dividend Wednesday, 19 June 2019 Record date Friday, 21 June 2019 Payment date Monday, 24 June 2019 Share certificates may not be dematerialised or rematerialised between Wednesday 19 June 2019 and Friday 21 June 2019, both days inclusive. Sandton 21 May 2019 Equity Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited Debt Sponsor: Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 21/05/2019 09:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limit

Sacked Dennis George shocked at deliberate misrepresentation

Cape Town Former Federation of Unions of South Africa (Fedusa) general secretary Dennis George has responded to allegations about his dismissal saying he was shocked at the deliberate misrepresentation of his position in the facilitation of AYO Technology shares to workers.Fedusa dismissed George last week months before his term was to be completed on January 31 2020 after a decision to investigate allegations that Fedusa owned shares in AYO. Fedusa president Masale Godfrey Selematsela said: External investigators had been appointed whereafter George had been placed on suspension and a disciplinary process was initiated. Fedusas national executive council at its meeting of May 16 considered the recommendations made by an independent chairperson and unanimously resolved to dismiss George based on findings of serious misconduct.

HAMMERSON PLC - Board Change

Wrap Text Board Change Hammerson plc (Incorporated in England and Wales) (Company number 360632) LSE share code: HMSO JSE share code: HMN ISIN: GB0004065016 (‘Hammerson' or ‘the Company') Board Change 21 May 2019 The Board of Hammerson plc announces that after eight years as Chief Financial Officer, Timon Drakesmith has tendered his resignation from the Company. Timon will continue to be a member of the Board until he leaves later in 2019, assisting with an orderly transition. The Board will now begin the process to appoint a successor. Timon joined Hammerson in May 2011 as Chief Financial Officer and in his role as MD of Premium Outlets he has been instrumental in expanding the Company's unique strategic exposure to this fast-growing sector. David Tyler, Chair of the Board said: "On behalf of the Board, I would like to thank Timon very much for his significant contribution to Hammerson. I have admired his hard work and commitment to both the business and its people. He will be leaving later in the year, with our best wishes for the future." Timon Drakesmith added: "I have very much enjoyed my eight years at Hammerson and there have been many highlights.

Vodacom MTN headtohead subscriber race intensifies

South Africas two biggest mobile operators MTN and Vodacom continue to rake in subscribers and have over 73 million local subscribers between them and most of their African operations continue to grow.This is according to data gathered from MTNs quarterly update for the period ended 31 March 2019 and Vodacoms annual results for the year ended 31 March 2019.MTN operates in 21 countries across the Middle East and Africa while Vodacom has six African operations including its stake in Safaricom in Kenya.MTN group subscribers increased overall by four million to 236.6 million quarteronquarter and the group added a mammoth 15.7 million new subscribers when compared to the first quarter of 2018 when it had 220.8 million customers.Vodacom meanwhile had 110 million group subscribers at the end of March 2019 including Safaricom up 5.8% from the previous year.South Africa is really where they compete headtohead and at the moment Vodacom is still winning the subscriber race with 43.2 million subscribers at the end of March compared to MTNs 30 million.In SA Vodacom added 1.5 million new subscribers between 31 March 2018 and 31 March 2019 growing its customer base by 3.7% to 43.2 million. On a quarteronquarter basis however the local subscribers actually dropped by 1.5% compared to 43.8 million customers at the end of December 2018 and was down even more from the 44 million customers it had at the end of September 2018.For MTN the story was similar. MTN South Africa grew its subscriber base by 0.7% yearonyear to just over 30 million but on a quarteronquarter basis its subscriber base dropped by 3.8%.Out of Vodacoms 43.2 million South African customers the vast majority 37.3 million are prepaid customers and just 5.8 million are postpaid.

Tinkies, much loved by tweens, launches Half&Half with an exciting campaign

Tweens. "They're a generation of digital natives who have never known a world without the internet or social media." This is how Aaron Paquette writing in the The Marketing Insider October 2018, describes them. " data-lazyauto="true"> " data-lazyauto="true"> "Tweens want to be anything but the age they are and are always looking toward the future.

ANGLO AMERICAN PLC - Anglo American rough diamond sales value for De Beers' fourth sales cycle of 2019

Wrap Text Anglo American rough diamond sales value for De Beers' fourth sales cycle of 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 21 May 2019 Anglo American rough diamond sales value for De Beers' fourth sales cycle of 2019 Anglo American plc announces the value of rough diamond sales (Global Sightholder Sales and Auction Sales) for De Beers' fourth sales cycle of 2019, amounting to $415 million. Bruce Cleaver, CEO, De Beers Group, said: "Cycle four saw lower rough diamond sales against a backdrop of macroeconomic uncertainty, and as we enter a seasonally slower period for the 21 May 2019 Indian factories closing temporarily for the traditional holiday period." industry with Cycle 4 2019(1) Cycle 3 2019(2) Cycle 4 2018 (provisional) (actual) (actual) Sales value(3) $415m $581m $554m (1) Cycle 4 2019 provisional sales value represents sales as at 20 May 2019. (2) Cycle 3 2019 actual sales value is restated following the earlier publication of a provisional figure for the third sales cycle of 2019. (3) Sales values are quoted on a consolidated accounting basis. Auction Sales included in a given cycle are the sum of all sales between the end of the preceding cycle and the end of the noted cycle. For further information, please contact: Media Investors UK UK James Wyatt-Tilby Paul Galloway james.wyatt-tilby@angloamerican.com paul.galloway@a

REBOSIS PROPERTY FUND LIMITED - New Financial Instrument REBC15

Wrap Text New Financial Instrument REBC15 REBOSIS PROPERTY FUND LIMITED Stock code: REBC15 ISIN code: ZAG000159716 New Financial Instrument Listing Announcement The JSE Limited has granted a listing to REBOSIS PROPERTY FUND LIMITED on Interest Rate Market with effect from 21 May 2019 under its Domestic Medium Term Note Programme dated 12 May 2015. INSTRUMENT TYPE: FLOATING RATE NOTE Authorised Programme size: R 3,000,000,000.00 Total Notes Outstanding: R 40,000,000.00 (inclusive of this issue) Bond Code REBC15 Nominal Issued R 19,000,000.00 Issue Price 100% Coupon 8.658% (3 Month JIBAR as at 17 May 2019 of 7.158% plus 150 bps) Coupon Rate Indicator Floating Trade Type Price Final Maturity Date 21 November 2019 Books Close Date(s) 11 November, 11 August Interest Payment Date(s) 21 November, 21 August Last Day to Register By 17:00 on 10 November, 10 August Issue Date 21 May 2019 Date Convention Modified Following Interest Commencement Date 21 May 2019 First Interest Payment Date 21 August 2019 ISIN No. ZAG000159716 Additional Information Senior Unsecured Floating Rate Notes Applicable Pricing Supplement https://www.jse.co.za/content/JSEPricingSupplementsItems/2014/BondDocuments/REBC15%20Pricing%20Suppleme nt%20Notes_(10024835_1).PDF The 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: Denzil Bagley Nedbank Limited +27 11 2943431 Corporat

Zim central bank stops forex allocations for fuel

HARARE Zimbabwe facing acute fuel shortages has liberalized the fuel industry through allowing petroleum traders to procure the commodity through an interbank market which the central bank says it is supporting with a US$500 million (R7.2 billion) funding chest.Zimbabwe has until now been heavily subsidising fuel despite battling forex shortages. Fuel traders were getting forex allocations to import fuel into the country while they were only allowed to sell at a controlled price and in local currency.But starting on Tuesday the fuel marketers have to use the interbank market to source forex for fuel importation said Reserve Bank of Zimbabwe governor John Mangudya.Economists and market watchers said this effectively meant liberalisation of the fuel industry and would also result in a fuel price increase as market forces kick in.With effect from 21 May 2019 the procurement of fuel by the Oil Marketing Companies shall be done through the interbank foreign exchange market the Zimbabwean central bank governor said in a notice on Monday.He also emphasised that the previous arrangement where petroleum marketers were getting forex from the Reserve Bank of Zimbabwe had fallen away. This means that the 1:1 exchange rate that was being used by the oil marketing companies for the procurement of fuel will be discontinued with immediate effect.Zimbabwe said it had made a drawdown of as much as US$500m from an offshore line of credit to breathe liquidity into the interbank market.

A case of from Russia with love for Barloworld

CAPE TOWN   Barloworld lifted normalised headline earnings per share by 14.1percent to 521.4cents in the six months to endMarch this year after a strong performance from its southern Africa equipment motor businesses and its Russia division.The group raised its interim dividend 13.8percent to 165c.Chief executive Dominic Sewela said they would consider share buybacks.Sewela said the results were pleasing given the tough environment in South Africa for the automotive and logistics sector.He added that its Russian division continued to post robust results. It posted record results in the previous financial year.Sewela said Barloworld was in talks to acquire Wagner Asia Group a Mongoliabased equipment dealer a transaction that might materially affect the share price should it succeed. Sewela added that the business looked attractive in terms of revenue and profit.The logistics divisional turnaround project continued to be a priority.Sewela said that he was optimistic about the prospects for the second half given the firm order books in southern Africa and Russia.He said the group expected to complete the Wagner Asia Group acquisition in the second half.In addition onceoff costs in the first half an R88million payment due to changes in UK pension funds and a R24m cost for the BEE transaction would not be repeated in the second half.Barloworld is launching its innovative Khula Sizwe BBBEE transaction which will enable black people to be shareholders in a blackowned property business by October.Sewela said there had been a great deal of interest in the scheme and they hoped to obtain investments from about 63000 black people by monthend when the offer to buy the shares closes.

Tariff tensions taunt traders

Dave Mohr, Chief investment strategist at Old Mutual Izak Odendaal, Investment strategist at Old Mutual Trade tensions between the world's two largest economies are front and centre again and markets are jittery. In fact, after the initial shock, investors now just appear downright confused. Mixed messages from US president Donald Trump's Twitter feed make it difficult to suss out prospects for successful trade negotiations with China, and even what Trump's real aims are.

Vodacom installs solar panels to power its Randburg base station

In recent months local carrier Vodacom has been outlining its desire to have a better strategy as it pertains to sustainability. While the company's plan is yet to fully take shape, that have taken a small step by installing a solar panel system at its Randburg base station in Johannesburg. Vodacom says the newly installed solar panels will be able to generate up to 34kW of power, and serve as a supplementary power supply for the aforementioned base station.

Post-elections confidence is critical

With the national elections behind us, improving confidence is the most urgent need for South Africa's economy right now if the ANC are going to make the most of the final reprieve that the electorate have given them. This was the message from Old Mutual Investment Group Chief Economist, Johann Els, at the Group's latest investment briefing. However, he believes that this confidence is likely to come through and the next three to five years are going to see a marked improvement.

OLD MUTUAL LIMITED - Additional Disclosures Directors Interests and Managed Separation Incentive Plan

OMU 201905210042A Additional Disclosures - Directors' Interests and Managed Separation Incentive Plan Old Mutual Limited Incorporated in the Republic of South Africa Registration number: 2017/235138/06 ISIN: ZAE000255360 LEI: 213800MON84ZWWPQCN47 JSE Share Code: OMU NSX Share Code: OMM MSE Share Code: OMU ZSE Share Code: OMU (‘Old Mutual' or ‘the Company') Ref 22/19 21 May 2019 ADDITIONAL DISCLOSURES - DIRECTORS' INTERESTS AND MANAGED SEPARATION INCENTIVE PLAN (MSIP) Shareholders are advised that Old Mutual Limited (OML) has published further disclosure related to: (i) Directors' Interests - in terms of paragraph 8.63(c) of the Johannesburg Securities Exchange (JSE) Listing Requirements; and (ii) Old Mutual Emerging Markets MSIP. Old Mutual Emerging Markets was a division of Old Mutual plc up to the listing of OML on 26 June 2018. This information is available on https://www.oldmutual.com/investor- relations/reporting-centre/reports Sponsors: JSE Merrill Lynch South Africa (Pty) Limited Namibia PSG Wealth Management (Namibia) (Proprietary) Limited Zimbabwe Imara Capital Zimbabwe plc Malawi Stockbrokers Malawi Limited Enquiries: Investor Relations Sizwe Ndlovu T: +27 (0)11 217 1163 Head of Investor Relations E: tndlovu6@oldmutual.com Communications Tabby Tsengiwe T: +27 (11) 217 1953 Head of Communications M: +27 (0)60 547 4947 E: ttsengiwe@oldmutual.com Notes to Editors About Old Mutual Limited Old Mutual is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets segments in 17 countries. Old Mutual's primary operations are in South Africa and the rest of Africa, and it has niche business in Asia.

De Beers diamond sales slump again in another warning sign

Although this is a quiet period, total sales so far in 2019 are still much weaker than in previous years. De Beers's diamond sales plunged to the lowest since 2017 in the company's latest offering, underlining a slump in the industry worldwide. Sales by the Anglo American unit dropped 25% from a year ago to $415 million, and were down 29% from an offering last month. It's often a quieter time of the year because the industry has already restocked after the key holiday period, but total sales so far in 2019 are still much weaker than in previous years. Diamond miners are struggling across the board, especially those producing cheaper and smaller gems where there is too much supply.

Business lessons learnt through failure

Entrepreneurship is about taking calculated risks and playing the odds; but if you keep at, success is inevitable. Entrepreneurship is about taking calculated risks and playing the odds; but if you keep at, success is inevitable. BUSINESS NEWS - Below, I share the lessons I learned through my many failures in the hopes that other aspiring businessmen and women will feel inspired enough to take the next step towards achieving success.

Absa migrates subsidiaries digital channels from UK to SA

JOHANNESBURG Banking group Absa said on Tuesday that it had to date migrated its digital channels and its account origination applications used by 10 African subsidiaries from the Barclays data centre in the UK to its own data centre in South Africa. Barclays reduced its shareholding in Absa Group from a majority stake to a minority stake in 2017. As a consequence Barclays and Absa are gradually separating their operations.  On Tuesday Absa said the latest project undertaken on May 18 and 19 following on from the completion of the core banking system migration of six subsidiaries in April unlocked further benefits including upgraded infrastructure and new customer interfaces in some instances.  "Absa has now migrated its digital channels and its account origination applications used by ten African subsidiaries Tanzania Ghana Botswana Zambia Mauritius Seychelles Uganda Kenya Mozambique and National Bank of Commerce in Tanzania" it said.

Vodacom, MTN head-to-head subscriber race intensifies

South Africa's two biggest mobile operators, MTN and Vodacom, continue to rake in subscribers and have over 73 million local subscribers between them, and most of their African operations continue to grow. This is according to data gathered from MTN's quarterly update for the period ended 31 March 2019 and Vodacom's annual results for the year ended 31 March 2019. MTN operates in 21 countries across the Middle East and Africa, while Vodacom has six African operations, including its stake in Safaricom in Kenya.

Coronation share price drops to six-week low on weaker earnings

The fund manager cites disappointing investment performance and little growth in the local pension fund industry Coronation Fund Managers's share price dropped to its weakest level in almost six weeks, trimming earlier gains that have made it one of the star performers on the local market, after it reported a worse-than-expected decline in interim earnings. The only listed fund manager on the JSE says disappointing investment performance knocked fee income and continued weak economic conditions ensured little growth in the local pension fund industry. Coronation's shares fell as much as 3.6% to R49.75, the weakest since April 10, before ending 2.7% down at R50.21, giving it a market capitalisation of R17.6bn. So far in 2019, the shares have risen 21.4% compared to more modest increases of 5.3% for the all share index and 0.7% for the financial index. The share price has pulled back from a recent low of R39 reached in February because of a much better first-quarter performance. Coronation's assets under management were flat at R586bn at the end of March, but were down 8% for the six months. The knock in fees, to the equivalent of 0.53% of assets, meant the fund manager generated just over R8m of fees every day from the owners of the R586bn of assets it managed. This was down from about R10m generated daily in the first half of financial 2018 and was below already low market expectations.

How Section 12J investments complement the business rescue process

South Africa's leading home appliance repair and maintenance brand is poised for spectacular growth thanks to the success of two pro-business processes introduced by local lawmakers. The firm used both the Department of Trade and Industry's 'business rescue' legislation and the SARS Section 12J tax incentive scheme to shake off recent trading difficulties and emerge revitalised, ready to create jobs and contribute meaningfully to the broader economy. " data-lazyauto="true"> Wesley Rabie, CEO of MasterCare MasterCare, established in 1974, ran into trouble three years after its 2009 acquisition of EarlyBird Services from Ellerines Holdings.

A business case for cloud and why finance needs a seat at the table

. Most businesses are by now already at one or another stage of the enterprise cloud transformation journey and a staggering 93 per cent of business executives who participated in Deloitte's 2018 global outsourcing survey, confirmed that their organisations were adopting - or at least considering adopting - cloud. Deloitte South Africa Finance and Enterprise Performance Management Leader Phillip Hechter says that, "Cloud is not just here, but here to stay. With the potential for significant cost savings and enhanced strategic value, cloud represents a fundamental shift in how technology solutions are developed and in how they are delivered".

Gugulethu couple found guilty of former Naspers employee Eric Wiese

The 80-year-old man was assaulted and killed at his Higgovale home in August 2017. | CAPE TOWN - A Gugulethu couple has been found guilty of the murder of former Naspers financial director Eric Wiese. in the Western Cape High The 80-year-old man was assaulted and killed at his Higgovale home in August 2017.

The Loeries Travelling Exhibition stops at Red & Yellow Creative School of Business

The Loeries Travelling Exhibition is a captivating showcase of 2018's award-winning creative work from across Africa and the Middle East. The exhibition will be at Red & Yellow Creative School of Business, Cape Town, from 27 to 31 May, 2019. For anyone studying advertising, design and other aspects of the brand communication industry, it's a fantastic chance to be inspired by the best work from our continent. Also, for anyone planning to enter the Loeries this year, it's the last opportunity to see past winners as a guide to your own entries. "The creative economy offers so much potential for our economy - the opportunity to employ our talented youth and to turn their ideas into something valuable, while creating revenue," says Loeries CEO Andrew Human. "I hope this exhibition inspires talented youngsters to follow their heart and make their passion their career." The Loeries Extended-Extended entry deadline is 7 June (although all work must still be launched, flighted or published by 31 May 2019 to be eligible) and Creative Week takes place from 19 to 25 August.

Hammerson CFO resigns following £268 million loss

Timon Drakesmith is stepping down as CFO of malls giant Hammerson shortly after it reported a 6.2% slump in net rental income in a turbulent retail backdrop. But his exit and the slump don't appear to be directly linked as he won't leave until next year. Hammerson The company, owner of malls including Bullring and Victoria Gate, racked up losses of more than £260 million in 2018.

Oliver has expressed sadness over the collapse of his business chain.

British celebrity chef Jamie Oliver's restaurant chain has gone into administration - putting more than 1 000 jobs at the firm's 25 sites in the United Kingdom under threat. The Jamie Oliver Group says it has appointed Will Wright and Mark Orton of KPMG to oversee the administration of the company. The firms will be managing Jamie Oliver Group's creditors.

Chubb launches Travel Smart app for business travellers

Chubb has launched its new app for business travellers, Chubb Travel Smart. The app provides business travellers with pre-travel eLearning, direct access to medical and security assistance and live location-based alerts to help avoid trouble and stay safe. "Effective travel management is a critical factor in any company's ability to exercise the utmost duty of care in providing and maintaining a working environment that is safe and without risk to the health of travelling employees.

Traka accelerates expansion into wider African markets

Leveraging almost two decades of experience in South Africa, and a presence in a further six African countries, networked key and equipment management solutions company Traka Africa announces an acceleration in its growth strategy. It plans to open new operations or expand more widely in five southern African countries, as well as into East Africa. Traka is the global leader in its market, having a presence in 40 countries through a combination of its own subsidiaries and local partners.

TalkCentral: Ep 260 - ‘Angry (about) Wasps'

In the podcast this week, Duncan McLeod and Regardt van der Berg discuss MTN's decision to back down, under consumer pressure, over its plan to introduce an opt-out-only out-of-bundle service. Also this week, Donald Trump's war on Huawei; Naspers told it can't buy WeBuyCars; and the big WhatsApp exploit. Listen to or watch the show to find out who's been picked as winner and loser of the week.

TalkCentral: Ep 260 - ‘Angry (about) Wasps'

In the podcast this week, and Regardt van der Berg discuss MTN's decision to back down, under consumer pressure, over its plan to introduce an opt-out-only out-of-bundle service. Also this week, Donald Trump's war on Huawei; Naspers told it can't buy WeBuyCars; and the big WhatsApp exploit. Listen to or watch the show to find out who's been picked as winner and loser of the week.

Google suspends some business with Huawei after Trump blacklist

Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters . "We are complying with the order and reviewing the implications," the Google spokesperson said.

McKinsey 'lost the plot' in business case for Transnet locomotives, inquiry hears

Global consulting firm McKinsey & Co did not fully understand its mandate when it was brought in to strengthen the business case for Transnet to acquire 1064 locomotives, a former Transnet official has said.  Francis Callard , a former electrical engineer at the state-run freight rail operator, on Monday continued his testimony before the judicial commission of inquiry into state capture. The commission, chaired by Deputy Chief Justice Raymond Zondo , is investigating allegations of corruption and mismanagement at several state entities.  Callard was testifying about the business case for the acquisition of 1 064 new locomotives, which was drawn up in 2013 for approval by Transnet's board. The contract has been mired in controversy over cost inflation and allegations of corruption after it ballooned from R38.16-billion to R54.5-billion. Callard told the commission that he understood that McKinsey had been brought in to further develop the business case for the 1064 locomotives.

Trade row flare-up knocks stock markets

Analysts say chances of a quick resolution look slim London — Equity markets on both sides of the Atlantic slid on Monday as investors fretted over the latest flare-up in the China-US trade war. Eurozone heavyweights Frankfurt and Paris were each down more than 1.5%, while London held up better thanks to a weak pound, as investors tracked ongoing Brexit turmoil. On Wall Street the Dow Jones index fell over 100 points at the opening bell. "US stocks are lower in early action, with the technology sector being pressured by the potential fallout of the escalated trade tensions between the US and China," the Charles Schwab brokerage said in a note. In the midst of a trade war with Beijing, President Donald Trump has barred US companies from engaging in telecommunications trade with foreign companies said to threaten American national security. US internet giant Google, whose Android mobile operating system powers most of the world's smartphones, then announced that it was beginning to cut ties with China's Huawei, which Washington considers a national security threat. "Equity markets are in the red ... as dealers are still worried about the trade standoff between the US and China," said analyst David Madden at trading firm CMC Markets UK. "The fact that Washington has effectively blocked Huawei from the US market is likely to drag out the trade dispute, and the prospect of a quick solution seems slim." The move could have dramatic implications for Huawei smartphone users, as the Chinese telecoms giant will no longer have access to Google's proprietary services — including gmail and Google Maps apps — a source close to the matter said. Reports also emerged on Monday that several US chip makers providing vital hardware for Huawei's smartphones have stopped supplying the Chinese firm. SEB emerging markets strategist Per Hammarlund said that the latest development made it unlikely that Beijing and Washington would end their dispute in the runup to the G-20 summit in Japan in June. "Chances of

Telkom Accused Of Dirty Tricks Not To Recognise ICTU

"ICTU will uphold its revolutionary character. We make no threats but if we can't meet with Telkom in the boardroom or in court then we shall meet in hell or heaven if that is the place to get our rights." - Facebook Twitter Linkedin WhatsApp Pinterest Email Print Telegram Telkom logo A David and Goliath battle is taking place at Telkom, the country's biggest fixed-line telephone group, which has allegedly resorted to dirty tricks against a union seeking recognition of their rights. The union leadership has been charged for various baseless allegations relating to union recognition, according to Thabang Mothelo, spokesperson of the Information Communication and Technology Union (ICTU) in an internal memo, seen by TechFinancials.

Pioneer Foods' shares plunge to six-year low on earnings decline

Shares in Pioneer Foods, which makes Sasko bread and Ceres juice, plunged to a six-year low after the group said it was struggling to pass on higher costs to consumers.  The group's stock fell 15% to R70.57 — the worst level since April 2013 — after it said earnings fell in the six months to end-March as costs rose faster than sales. Pioneer said adjusted headline earnings fell 15% to R506m even as revenue rose 11.5% to R11bn. The cost of goods sold jumped 14%.

UPDATE 1-South Africa's rand firmer as risk selloff pauses,...

(Updates prices) JOHANNESBURG, May 20 (Reuters) - South Africa's rand firmed on Monday after a sharp slide in the previous week as a global sell-off in risk assets slowed, with investors positioning for an event-packed week. Stocks weakened, led by bourse heavyweight and e-commerce group Naspers NPNJn.J . At 1510 GMT the rand ZAR=D3 was 0.52% firmer at 14.3725 per dollar compared with its Friday close of 14.4475 in New York. Last week the rand and other emerging market currencies weakened as the trade spat between Beijing and Washington worsened, while solid economic data from the United States also pushed money towards the greenback. The rand shed close to 2 percent in the previous week but remained one of the better performing emerging currencies as the post-election positivity limited losses, with investors awaiting the announcement of a new cabinet. Before the announcement by incoming President Cyril Ramaphosa after this weekend's inauguration, Statistics South Africa publishes consumer inflation data on Wednesday and the central bank decides on lending rates on Thursday. Investors also await developments in U.S.-China trade negotiations and the Federal Reserve minutes that may give more clues on what prompted U.S. policymakers to strike a broadly neutral stance this month. In fixed income, the yield on the benchmark 10-year South African government bond due in 2026 ZAR186= fell 1.5 basis points to 8.5%. On the bourse, the Johannesburg all-share index .JALSH fell 1.01 percent to 55,617 points, while the Top-40 index .JTOPI was 1.06 percent lower at 49,551 points. Naspers led the market lower, down 3.29 percent to 3,210 rand after losses in Hong Kong technology giant Tencent 0700.HK , in which it has a 31 percent stake. "All the tech shares in China have come under pressure and our whole market is built on Naspers," said Greg Davies, equities trader at Cratos Capital. A U.S. crackdown on China's Huawei Technologies HWT.UL stoked concerns about an escalating fallout in the U.S.-China tra

African Agribusiness Entrepreneur Of The Year Award 2019

Market Matters Inc. is pleased to announce that the 2019 African Agribusiness Entrepreneur of the Year Award has been presented to Ms. Dikeledi Emelda Mosime of Tin-Pac Promotional Packaging, a South African manufacturer and supplier of promotional tinware.

Uganda: Alexander Forbes Moves to Exit Uganda Market

[East African] South African financial services group Alexander Forbes has announced plans to exit the Ugandan market as the firm reviews its operations in emerging markets..

OPINION: Keeping an eye on competitors is vital for business

JOHANNESBURG - While a competitive matrix analysis is now a staple for modern business plans, identifying your business' competitive advantage during the planning stage is no longer enough to ensure longevity in today's fast-paced and ever-evolving commercial landscape.   Ongoing monitoring of business competitors has become imperative to stand the test of time.  Luckily, in today's digital age, few things are kept private and the internet allows for constant real-time review and analysis of competitor data.  From websites and social media pages to  advertising campaigns and PR coverage - everything you need on your competitors is just a few clicks away.  It is however important to remember that the goal is to innovate, not imitate. Monitoring should never be a means to blindly duplicate but a strategic tool to achieve the following objectives:.   Learning Through monitoring the movements and strategies employed by competitors, businesses, are able to learn. Assessing unsuccessful tactics or strategies that miss the mark and that resulted in a losses allows business to determine exactly what went wrong and either improve on it or avoid the concept altogether going forward.   Discovery The best way to pinpoint areas that may need a little extra work is to acknowledge where similar or competing businesses are doing something better.

Doing Business in Africa

As the interest in Africa grows, many investors consider the African continent to be a potential investment destination. However, there are significant challenges in accessing critical information on the investment, tax and regulatory environments in several countries in Africa. With this in mind, the PwC Africa Desk presents the PwC seminar series, where various African countries (including South Africa) are profiled by in-country specialists.

Rebosis and the evaporating billions

Just five years ago Rebosis Property Fund and its founder Sisa Ngebulana were unstoppable. The fund was one of the most exciting players in the property market and the share price was reflecting this. It was snapping up lucrative properties around the country and turning them into gems and, at the same time, building new ones.

Pioneer achieves credible performance in a constrained local market

JSE-listed Pioneer Foods recorded a credible topline performance for the six months ended March 31, in a considerably constrained local consumer market with consequent competitive pressures. Revenue grew by 11.5% year-on-year to R11.04-billion, while sales volumes were up 2.7% year-on-year. Excluding the acquired Wellingtons and Lizi's businesses, revenue grew by 7.9% and volumes by 1.3%.

UPDATE 1-LME dismisses Glencore complaint over access to metal in Malaysia -sources

(Adds detail, background) By Pratima Desai LONDON, May 20 (Reuters) - The London Metal Exchange (LME) has dismissd a complaint from miner and commodity trader Glencore over its inability to take fast delivery of aluminium from warehouses owned by ISTIM UK in Port Klang, Malaysia, two sources familiar with the matter said on Monday. Sources had told Reuters earlier this year that Glencore's complaint higlighted uncertainties in the LME's storage rules, after industry reform sparked by accusations from consumers that banks and traders were hoarding metal in LME warehouses. "The LME has recently received and decided a formal complaint in respect of warehousing.

AVA Gallery Hosts Western Cape Winners And Finalists Of The PPC Imaginarium Awards 2019

South Africa's most supportive art and design competition, the PPC Imaginarium Awards, will exhibit the work of its Western Cape Winners and Finalists at the Association for Visual Arts (AVA) Gallery in Cape Town from 6-26 June 2019. The exhibition will open from 18h00 on Thursday the 6th of June and will form part of the popular First Thursdays circuit in the inner city. Visitors to the exhibition are encouraged to engage with the diverse range of art and design works from the competition's various entry categories, namely, Fashion, Sculpture, Industrial Design, Jewellery, Film and Architecture. Entries into the PPC Imaginarium Awards must aim to express innovation through the medium of concrete. Although there were no Film or Architecture Finalists from the Western Cape, on the whole, the region fared well in the competition, with 14 out of 67 national Finalists hailing from the Cape, from which four Winners were selected.

Three nabbed for business burglary

THREE men have been arrested in connection with a business burglary at a solar panel plant about 50km from Prieska, Northern Cape police said on Saturday. The alarm system was activated at the plant on Friday and the police reacted swiftly, police spokesperson Lieutenant-Colonel Dimakatso Mooi said. At the scene, the officers spotted a bakkie, which then sped off as the police vehicle approached.

Win a Cooking Experience For 2 With KOO and Chef Dorah Sithole, Valued At R3000

KOO knows that good food brings people together and is giving you and your partner an opportunity to discover your inner chef.  Stand a chance to win a KOO hamper and an inspiring cooking experience, where you'll both spend time cooking South African favourites with renowned Chef Dorah Sithole. #LocalIsLekker #KOOItsTheBestYouCanDo KOO, the country's favourite canned food brand[1], has introduced a new range of locally inspired flavours to its mixed vegetable range: Mixed Vegetables in Durban Curry Sauce and Mixed Vegetables in Cape Malay Curry Sauce. Food enthusiasts will love the authentic South African flavours which will tempt the taste buds.

Eskom ‘pushing' SA business toward green buildings

Green buildings are increasingly in demand in the face of concerns around Eskom's ability to supply power. At the recent African Utility Week conference, energy minister Jeff Radebe told delegates that Eskom alone cannot meet our power capacity requirements, they estimate that the capacity extension under the Integrated Resource Plan (IRP) will cost in excess of R1 trillion in the period up to 2030. "Including the new power plants plus the requisite transmission and distribution infrastructure," said the minister.

Traka accelerates expansion into wider African markets

Leveraging on almost two decades of experience in South Africa, and a presence in a further six African countries, networked key and equipment management solutions company Traka Africa announces an acceleration in their growth strategy. It plans to open new operations or expand more widely in five Southern African countries, as well as into East Africa. Traka is the global leader in its market, having a presence in 40 countries through a combination of its own subsidiaries and local partners.

RESILIENT REIT LIMITED - Posting of circular and notice of general meeting

RES RES34 RES35 RES41 RES40 RES36 RES38 201905200044A Posting of circular and notice of general meeting RESILIENT REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/016851/06) JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF (Approved as a REIT by the JSE) (‘Resilient') POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING Shareholders are referred to the announcement released on SENS on 13 May 2019 regarding the proposed specific repurchase by Resilient, in part directly and in part via its subsidiary, Resilient Properties Proprietary Limited, of 52 182 504 Resilient shares (the ‘Share Repurchase') and the purchase of 7 474 707 Fortress B shares (the ‘Fortress Share Purchase') (collectively, the ‘Share Sale') held by The Resilient Empowerment Trust in full settlement of the loans advanced by the Resilient group to The Resilient Empowerment Trust. Shareholders are advised that a circular regarding the Share Sale (the ‘Circular'), and incorporating a notice of general meeting, was posted to Resilient shareholders on Monday, 20 May 2019. A general meeting of Resilient shareholders will be held at 10:00 on Monday, 24 June 2019 at 4th Floor, Rivonia Village, Rivonia Boulevard, Rivonia, 2191 (the ‘General Meeting'), to consider and, if deemed fit, pass, with or without modification, the resolutions contained in the notice of General Meeting. A copy of the Circular is available on Resilient's website (https://cmsignition.co.za/download/files_1208/Resilient-Specificrepurchasecircular.pdf). The salient dates and times for the Circular and notice of General Meeting are set out below. 2019 Record date for determining which Shareholders are entitled to receive the Circular and notice of General Meeting Friday, 10 May Announcement relating to the issue of the Circular and notice of General Meeting released on SENS Monday, 20 May Circular and notice of General Meeting issued Monday, 20 May Last day to trade in Resilient shares in order to be r

Zuma's High Court bid to end trial

Former President Jacob Zuma addresses his supporters outside Parliament in Cape Town after surviving a vote of no confidence in 2017. Archive photo: Ashraf Hendricks During May, we're publishing and promoting the.news.letter, a digest of essential daily news produced by veteran journalists Chris Whitfield, Jonathan Ancer and Martine Barker. Enjoy! Jacob Zuma was back in the Pietermaritzburg High Court today, trying to get a permanent stay of prosecution on corruption charges.

Marketing Achievement Awards finalists announced

The finalists for the inaugural Marketing Achievement Awards (MAA) have been revealed and the winners will be announced at a prestigious gala dinner on 27 June 2019 at the Sun City Superbowl. " data-lazyauto="true"> The awards - to be held annually to set a new benchmark for the industry - celebrate the best of the best in South African marketing and aims to future-proof the sector and raise the bar for local marketers. A panel of judges , who are all seasoned and highly respected marketing professionals, carefully considered the self-nominated entries based on well-considered criteria, and the following brands were shortlisted for specific campaigns and categories.

Uganda is open to do business with South Africa

The efforts of the Ugandan government to improve the country's investment climate have succeeded in transforming the East African country into an attractive investment destination in the region.  This was said by the Acting Executive Director of the Uganda Investment Authority, Mr Lawrence Byensi ahead of the Outward Trade and Investment Mission to Uganda organised by the Department of Trade and Industry ( the dti ). The mission, which will comprise of 25 South African companies, will take place from 19-24 May 2019. The main objective of the mission is to increase bilateral trade and investment between South Africa and Uganda.

S.Africa's Amplats fires over 600 underground workers at its Mototolo mine

JOHANNESBURG, May 20 (Reuters) - Anglo American Platinum (Amplats) said on Monday it fired about half of the underground workers at its Mototolo mine following an illegal strike. Workers belonging to the General Industrial Workers Union of South Africa (GIWUSA) downed tools on May 12 following a dispute over the employees' medical scheme, despite an interim court interdict against any strike action, Amplats said. The precious metals producer said it dismissed 643 employees at Mototolo, which produced 57,700 ounces of platinum group metals in the first quarter of 2019, after its appeal to end the strike was ignored.

The State of the Insurance Market - Is your business ready to take on the risks it could face?

Businesses operate in a time of unprecedented volatility across economics, demographics and geopolitics. More than ever you need to explore new ways to cope with evolving and inter-related complexities in a challenging business environment. Aon South Africa, a leading insurance brokerage and risk advisor, has surveyed the risk and insurance landscape and reveal their take on the key risks that businesses need to focus on to ensure growth and stability: • Risk readiness is falling, but volatility is growing - Businesses are slow to implement new risk and insurance programs for evolving risks such as cyber and political risk.

State spooks undermined Sars to favour tobacco smugglers, claims former top spy

Arthur Fraser claims the taxman was the target of coordinated intelligence operations aimed at derailing investigations into tobacco smuggling. 9 mins ago The SA Revenue Service (Sars) was the target of coordinated intelligence operations aimed at derailing its investigation into tobacco smuggling and the local tobacco industry, the country's former top spy Arthur Fraser has claimed. Fraser's astounding allegation in response to Dr Sydney Mufamadi's High-Level Review Panel's Report on the SSA is contained in paragraph 55 of his reply to Mufamadi, saying it was one of the issues Mufamadi should have reviewed.

Pioneer Foods Interim Results for the Period Ending March 2019

Share price at time of writing: R78.45 We take a look at food producing group Pioneer Food's (JO:PFGJ) financial results for the interim period ending March 2019. Pioneer Foods has seen a significant decline in its share price in recent months from a share price that was trading around R140 a share at the beginning of 2018, it's now almost half that price trading at R78.45 a share at the time of writing this review of their financial results. About Pioneer Foods Pioneer Foods is one of the largest South African producers and distributors of a range of branded food and beverage products. The Group operates mainly across South Africa, providing wholesale, retail and informal trade customers with products of a consistently high standard.

Aspen sells Australia, New Zealand prescription portfolio to Mylan

JOHANNESBURG, May 20 (ANA) - JSE-listed Aspen Pharmacare Holdings said on Monday it had sold its portfolio of prescription and over-the-counter products in Australia and New Zealand to global generic pharmaceuticals company Mylan N.V. for A$188 million (around R1.8 billion)..

Stocks rebound, Indian markets cheer exit polls showing Modi win

* India shares rise more than 3%, rupee up 1% * China shares down after Washington blacklists Huawei * Turkey's lira up By Susan Mathew May 20 (Reuters) - Emerging market stocks and currencies rose on Monday, with Indian assets cheering exit polls suggesting a victory for the ruling party in general elections, while the intensifying Sino-U.S. trade war kept the pressure on Chinese equities. Rebounding from last week's declines, MSCI's index of emerging market currencies and shares was up 0.09% at 0821 GMT. The Indian rupee jumped 1% to 69.53 per dollar and was on course to post its biggest one-day gain in five months, while stocks in Mumbai surged more than 3%, set for their best intraday gain since the first quarter of 2016. Exit polls showed conservative incumbent Narendra Modi is likely to return to power with an even bigger majority in parliament after a mammoth general election that ended on Sunday. "This ensures policy continuity and required stability. Hence it will attract long-term investors," said Rushabh Maru, currency and commodity analyst with Anand Rathi Shares and Stock Brokers. Samrat Dasgupta, a fund manager at Esquire Capital Investment Advisors warned that while a rally could be expected for the next few days, further upside - even if the outcome matches the polls - will be limited as people will wait to see what policies will be made by the new government as the economy passes through a rough patch. China stocks fell after news that Google has suspended some business with Huawei following Washington's blacklisting of the Chinese telecoms giant last week. The yuan, however, rose against a soft dollar helped by a firmer-than-expected midpoint and the central bank's pledge to keep the currency stable. In Turkey, the lira erased early losses to trade 0.2% higher as the dollar weakened, while stocks were fl

Business' Wish List For Ramaphosa's Cabinet

The hot topic of the past week has been the expected list of new cabinet members in the Ramaphosa administration. In order to see economic growth and steer clear from a downgrade, Ramaphosa will need to boost investor and business confidence with his leadership decisions. For more on the importance of the ANC leadership structure on the economy CNBC Africa is joined by SACCI CEO Alan Mukoki. The post appeared first on iAfrica.com..

Business Chamber to host networking event

The Hermanus Business Chamber will be hosting its first networking opportunity after the election on Thursday, 23 May at 17:30 for 18:00. The venue is still to be confirmed and RSVPs can be sent via email to Ingrid at ingrid@theglobalchallenge.co.za or via mobile at 082 487 4842..

MTB and trail enthusiasts enter for Karkloof festival

Now into its 26th year the trails through the plantations and countryside of the Karkloof have earned a reputation as being technically challenging enough to make each rider memorable. 12 hours ago Last year's race winner Bianca Haw will be taking part in the Sappi Karkloof Marathon. PHOTO: Anthony Grote (Gameplan Media) THE popularity of the Sappi Karkloof Classic Trail Festival weekend of mountain biking and trail running is being reflected in a steady stream if entries for all the events that will be part of the edition of the event on the June 1 and 2.

Dennis George ‘shocked' in the wake of Fedusa sacking

Embattled former Federation of Unions of South Africa (Fedusa) general secretary Dennis George has responded to his recent dismissal from the trade union federation. George, whose dismissal was announced by Fedusa last Friday, said in a statement on Monday that he is "shocked" at the "deliberate misrepresentation" of his position in facilitating the acquisition of shares in the controversial Ayo Technology Solutions. "I have spent my entire life as a man of integrity, as someone who has fought for workers' and employees' rights.

Good Business Basics: Strike action must be controlled

What drives the abhorrent behaviour that has become the norm during industrial action by union members? Violent intimidation, destruction of infrastructure, blockades and killings have become the default actions of striking workers from the outset of wage negotiations, rather than an outlet for frustration and impatience when talks become deadlocked. ALSO READ :  Good Business Basics: SMMEs are our lifeblood There appears to be nothing out of bounds to the perpetrators, least of all the safety of the general public caught in the middle. Challenged This course of action is all the more dismaying, in light of the fact that the Labour Relations Act (LRA) provides a comprehensive framework to ensure that striking workers can exercise pressure on the employer in many legal ways, such as picketing and sit-ins at work premises.

UPDATE 1-Chipmakers weigh on European markets as Huawei fallout spreads

* Deutsche Bank falls on NYT Trump anti-money laundering report * Ryanair reports weakest annual profit in four years * Oil bounces after Saudi energy minister comments (Updates prices, adds quote) By Agamoni Ghosh and Amy Caren Daniel May 20 (Reuters) - European stock markets struggled in the face of a U.S. crackdown on China's Huawei Technologies on Monday after a report that German-based chipmaker Infineon had halted shipments to Huawei. A profit warning from Ryanair also pressured airline stocks, overpowering the impact of a surge in oil producers due to rising crude prices and pushing the pan-European index STOXX 600 .STOXX down 0.5% by 0930 GMT. stocks .SX8P fell the most across all European sectors as the report on Infineon followed news on Sunday that Google GOOGL.O was suspending some business with Huawei.

The Healthy Business Show: Anton Ossip, CEO of Discovery Insure

South Africa is looking to small- and medium-sized business owners to grow the nation's economy. But do they have the support they need to succeed? The Healthy Business Show, our new collaborative podcast series with Discovery Business Insurance, presents inspiring content to empower entrepreneurs with insights that will help them start a business, grow and achieve success. Anton Ossip, CEO of Discovery Insure, unpacks this new podcast series for Gareth and the team.

Africa has an abundance of creativity

Creative Africa celebrates #AfricaMonth Africa has creative talent to burn. We spoke to African creative leaders about how pan-African showcases like the Loeries, help promote African talent to the world - and why awards like these, inspire brands to be bolder, and do more creative and effective work. There is a very human voice to African brand communication, as well as a sense of fun.

Is your business covered for loss of income?

Small business owners who have a short-term commercial insurance policy are often not aware that they may not be covered for the loss of income, under a standard commercial policy. Although a standard short-term insurance policy can assist SMEs to replace, repair or reinstate various assets following a loss, it does not provide cover against the loss of income as a result of a business being non-operational or not being able to provide a service following a covered loss. "Business Interruption cover is offered by insurers as optional cover to protect a business against the loss of income following an insured event.

NEW EDGE AD BRINGS ICONS TOGETHER

So, imagine this.  Local and international stars of South Africa's most memorable beer and cider ads walk into a bar. Sounds like the start of a joke. Instead, it's a recipe for magic in a witty ad for Distell's new beverage, EDGE.

The Nederburg Auction Is Now Called The Cape Fine & Rare Wine Auction

The historic Nederburg Auction, launched in 1975, has entered a new chapter and will now be known as the Cape Fine & Rare Wine Auction. It will be held in October instead of September and will feature a new venue, format and ethos. The move is in line with Distell's new premium and fine wine company, Libertas Vineyards and Estates, whose purpose is to support and drive the promotion of SA wine on the global stage.

Chipmakers weigh on European markets as Huawei fallout spreads

* Deutsche Bank falls on NYT Trump anti-money laundering report * Ryanair reports weakest annual profit in four years * Oil bounces after Saudi energy minister comments (Updates prices, adds quote) By Agamoni Ghosh and Amy Caren Daniel May 20 (Reuters) - European stock markets struggled in the face of a U.S. crackdown on China's Huawei Technologies on Monday after a report that German-based chipmaker Infineon had halted shipments to Huawei. A profit warning from Ryanair also pressured airline stocks, overpowering the impact of a surge in oil producers due to rising crude prices and pushing the pan-European index STOXX 600 down 0.5% by 0930 GMT. Tech stocks fell the most across all European sectors as the report on Infineon followed news on Sunday that Google was suspending some business with Huawei. "Chipmakers in Europe, and United states have been hit by trade tensions, especially today because Huawei has been banned from Google's Playstore," said Vlad Totia, research analyst at Accendo Markets. A source told Reuters that Google had suspended business with Huawei that required the transfer of hardware, software and technical services except those publicly available via open source licensing. AMS, STMicroelectronics, and ASML were down between 3% and 7% as fears of a disruption to the industry's global supply chain grew. Nokia and Ericsson however, gained from the news as investors judged damage to Huawei could benefit the European telecom equipment makers. Europe's largest low-cost carrier Ryanair fell more than 3% after it was the latest major player to provide signs of pain in a sector struggling with overcapacity, Brexit and delays in delivery of the Boeing 737 Max. EasyJet Plc, Lufthansa AG and Air France , all slid in response, pushing the travel and leisure sector down almost 1%. Deutsche Bank shares a

Consolidating backup and recovery makes sound business sense

The majority of enterprises today are burdened with multiple backup and data protection solutions. By Mike Rees, territory account manager: South Africa at Commvault These options often become complicated, hard to manage and expensive to maintain. Consequently, such a disparate environment results in increased operational complexity, higher costs, the inability to recover data quickly, an increased risk of non-compliance and lack of flexibility.

?Simplified backfill

Victaulic, the world's leading manufacturer of mechanical pipe-joining systems, has seen great success with the introduction and implementation of its series 725 diverter valve, and its impact on the South African mining industry. As the industry's first grooved-end valve designed specifically for paste backfill lines, the product improves the efficiency of backfill operations while providing reliable service. "Victaulic's series 725 diverter valve was designed specifically to make paste backfill activities in the mining industry simpler and easier," comments Marcel Ley, Victaulic regional manager.

Aspen sells Australian prescription portfolio to Mylan

Mylan exercised an option to buy Aspen's prescription portfolio for 188m Australian dollars. Aspen Pharmacare said on Monday that Mylan had exercised an option to buy the South In December, Aspen said its wholly-owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialised in Australia and New Zealand. That deal included an option for Mylan to buy the portfolio. "The divestment is in line with the group's ongoing portfolio management approach and its stated intention to not only acquire value enhancing products, but to also divest of non-core assets, thereby ensuring enhanced operational focus," Aspen said in a statement. Aspen added that 93 million Australian dollars will be payable by May 29, 30 million in January 2020 and up to 65 million will be payable in September 2020. The proceeds will be used to reduce Aspen's gearing, which has worried investors and caused a sharp decline in the drugmaker's shares. The company's net debt to Ebitda (earnings before interest, tax, depreciation and amortisation) stood at 4.4 times at the end of June, at the upper end of a threshold of 4.75 times negotiated with its creditors in December. It also sold its infant formula business to French dairy giant Lactalis to bring borrowing down. Read: On Friday the company said it has received confirmation from Lactalis that the New Zealand Overseas Investment Office has granted approval to Lactalis for the acquisition of its business in that country..

Amplats dismisses half of Mototolo's underground employees amid unprotected strike

Platinum miner Anglo American Platinum (Amplats), headed by Chris Griffith , has dismissed half of the Mototolo mine's underground employees amid an unprotected strike, but has given the dismissed employees until May 21 to appeal the decision. Employees at the mine affiliated with the General Industrial Workers Union of South Africa (Giwusa) embarked on the strike on May 12. Giwusa had, earlier this year, declared a dispute with Amplats at the Commission for Conciliation, Mediation and Arbitration (CCMA), alleging that changes made by Amplats regarding employees' medical scheme, following the purchase of the mine from Glencore in November 2018, represented a "unilateral change in employees' condition of service".

China's tech transfer problem is growing, EU business group says

By Michael Martina BEIJING, May 20 (Reuters) - Cases of European firms forced to transfer technology in China are increasing despite Beijing saying the problem does not exist, a European business lobby said, adding that its outlook on the country's regulatory environment is "bleak". China's trading partners have long complained that their companies are often compelled to hand over prized technology in exchange for access to the world's second-largest economy. Demands by the United States that China address the problem are central to the two countries' ongoing trade war, which has seen both sides pile tariffs on billions of dollars of each other's goods. The European Union Chamber of Commerce in China said on Monday that results from its annual survey showed 20% of members reported being compelled to transfer technology for market access, up from 10% two years ago. Nearly a quarter of those who reported such transfers said the practice was currently ongoing, while another 39% said the transfers had occurred less than two years ago. "Unfortunately, our members have reported that compelled technology transfers not only persist, but that they happen at double the rate of two years ago," European Chamber Vice President Charlotte Roule said at a news briefing on the survey. "It might be due to a number of reasons... Either way, it is unacceptable that this practice continues in a market as mature and innovative as China," Roule said. In certain "cutting edge" industries the incidence of reported transfers was higher, such as 30% in chemicals and petroleum, 28% in medical devices, and 27% in pharmaceuticals, she added. China's top Communist Party newspaper, the People's Daily, said on Saturday that Washington's complaints on the issue were "fabricated from thin air". Amid the escalating U.S.-China trade war, Beijing has put pressure on the EU to stand with i

GLOBAL MARKETS-Asian shares steady after steep losses; Saudi comments lift oil

* MSCI Asia ex-Japan +0.6% * Australian shares surge on surprise election result * Oil up more than 1% after Saudi minister comments * Asian stock markets: tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, May 20 (Reuters) - Share markets in Asia got off to a steady start on Monday as investors tried to catch their breath following another week of escalating trade tensions between the United States and China. In early trade, MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.6% after a steep 3% loss the previous week. U.S.

SIBANYE GOLD LIMITED - No increase statement of the proposed Lonmin acquisition

SGL 201905200003A No increase statement of the proposed Lonmin acquisition Sibanye Gold Limited Trading as Sibanye-Stillwater Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN - ZAE000173951 Issuer code: SGL (‘Sibanye-Stillwater' or ‘the Group' or ‘the Company') NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Response to press speculation and no increase statement of the proposed Lonmin acquisition Johannesburg, 20 May 2019. On 25 April 2019, Lonmin and Sibanye-Stillwater announced that they had reached agreement on the terms of an increased recommended all-share offer to be made by Sibanye-Stillwater for the entire issued and to be issued ordinary share capital of Lonmin (the ‘Increased Offer'). Under the terms of the Increased Offer, Lonmin Shareholders will be entitled to receive for each Lonmin Share one New Sibanye-Stillwater Share. Earlier today Sibanye-Stillwater and Lonmin jointly announced that the Competition Appeal Court of South Africa (the ‘CACSA') has dismissed the appeal by the Association of Mineworkers and Construction Union (‘AMCU') with costs, and has therefore upheld the South African Competition Tribunal's decision of 21 November 2018, approving the Offer subject to certain specific conditions. Sibanye-Stillwater notes the press speculation today regarding the terms of its Increased Offer, and, as a result and in accordance with the UK Takeover Code, confirms that the Increased Offer is final and will not be increased. The Transaction remains subject to the satisfaction or (where applicable) waiver of the conditions set out in the announcement of the Transaction by Lonmin and Sibanye- Stillwater on 14 December 2017 and in the scheme circular published by Lonmin on 25 April 2019 (the ‘Lonmin Scheme Circular').

BUSINESS MAVERICK: Best property investment is far from home

This year, listed real estate abroad has known few boundaries. Not only did it kick dust in the eyes of SA property players, but its returns were also in excess of all international equity sectors and the bond markets. Indeed, a top portfolio performer.

Anglo American Platinum fires 50% of underground workers at Mototolo mine

Anglo American Platinum (AAP) said on Monday it had dismissed about 50% of the underground workforce at its Mototolo mine over an unsanctioned strike and gave them until Tuesday to appeal. In a statement, the company said the impact on production had been minimal thus far and AAP was exploring options to ensure that Mototolo recommenced full production as soon as practically possible. The General Industrial Workers Union of South Africa (GIWUSA) served a notice on AAP to strike at Mototolo on May 9, following a dispute regarding employees' medical scheme after the purchase of the mine from Glencore last November.

Businesses that are bad for business

There is a tendency to take a simplistic view of technology-driven disruptive businesses. That's because, generally, they offer better deals for consumers. But, often glossed over, is the reality that disruption is possible, not because of the intrinsic brilliance of a product, but because it is only able to offer lower prices through not complying with legislation and rules that its competitors must abide by.

South African Markets - Factors to watch on May 20

JOHANNESBURG, May 20 (Reuters) - The following debt and currency market moves may affect South African markets on Monday. SOUTH AFRICAN MARKETS The South African rand slipped to its weakest in one week on Friday as trade tensions between China and the United States dragged down demand for emerging market assets. .J ZAR/ GLOBAL MARKETS Asian shares steadied on Monday as investors caught their breath following another week of escalating U.S.-China trade tensions, with sentiment turning brighter after the United States said it would lift tariffs in North America. MKTS/GLOB WALL STREET Wall Street ended lower on Friday as continuing trade tensions pulled industrial and tech shares down, and the Dow capped a fourth straight week of losses in its longest weekly losing streak in three years.

INVESTEC PROPERTY FUND LIMITED - Sale of 45 Million Investec Australia Property Fund units

IPF 201905200035A Sale of 45 Million Investec Australia Property Fund units INVESTEC PROPERTY FUND LIMITED Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration Number 2008/011366/06) Share code: IPF ISIN: ZAE000180915 (‘Investec Property Fund' or the ‘Fund') SALE OF 45 MILLION INVESTEC AUSTRALIA PROPERTY FUND UNITS 1. Introduction Shareholders are referred to the ASX Listing Proposal and Offer, and the Proposed Sale announcements, published on SENS on 3 May 2019, by Investec Australia Property Fund and the Fund, respectively (collectively, the ‘Announcements'). The definitions set out in the Announcements apply mutatis mutandis to this announcement. The Fund is pleased to announce that the Offer, which closed on 17 May 2019, was oversubscribed, such that the Fund disposed of 45 million IAPF units (the ‘IAPF units') to institutional investors, at a price of A$1.32 per unit (the ‘Sale').

BARLOWORLD LIMITED - Interim results for the six months ended 31 March 2019

Wrap Text Interim results for the six months ended 31 March 2019 Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income tax registration number 9000/051/71/5) (JSE share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) (Barloworld or the company) Interim results for the six months ended 31 March 2019 About Barloworld Barloworld is a distributor of leading international brands providing integrated rental, fleet management, product support and logistics solutions. The core divisions of the group comprise Equipment (earthmoving equipment and power systems), Automotive (car rental, motor retail, fleet services, used vehicles and disposal solutions) and Logistics (logistics management and supply chain optimisation). We offer flexible, value adding, innovative business solutions to our customers backed by leading global brands.

Business Maverick: Friday May 17: Blunders - Vestact TV

Home Page JTNDZGl2JTIwaWQlM0QlMjJOZ<wbr/>WFyQnV5TGluayUyMiUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUzQ2RpdiUyMGNsYXN<wbr/>zJTNEJTIyY29udGFpbmVyJTIyJTNFJ<wbr/>TBBJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTNDZGl2JTIwc3R5bGUlM0Q<wbr/>lMjJ3aWR0aCUzQSUyMDI2MHB4JTNCJ<wbr/>TIwZGlzcGxheSUzQSUyMHRhYmxlJTN<wbr/>CJTIwdGV4dC1hbGlnbiUzQSUyMGNlb<wbr/>nRlciUzQiUyMG1hcmdpbiUzQSUyMDA<wbr/>lMjBhdXRvJTNCJTIyJTNFJTBBJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTBBJTIwJTIwJTI<wbr/>wJTIwJTIwJTIwJTIwJTIwJTIwJTIwJ<wbr/>TIwJTIwJTIwJTIwJTIwJTIwJTIwJTI<wbr/>wJTIwJTIwJTNDJTIxLS0lMjBOZWFyJ<wbr/>TIwQnV5JTIwTGluayUyMDElMjAtLSU<wbr/>zRSUwQSUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUwOSUzQ2RpdiUyMHN0e<wbr/>WxlJTNEJTI3ZGlzcGxheSUzQSUyMG5<wbr/>vbmUlM0IlMjclM0UlMEElMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlM0MlMjEtLSUyMHRzaHd<wbr/>pZmkuY29tJTJGaG9tZV9sb2NhbF9sa<wbr/>W5rX2xlZnQlMjAtLSUzRSUwQSUyMCU<wbr/>yMCUyMCUyMCUyMCUyMCUyMCUyMCUyM<wbr/>CUyMCUyMCUyMCUyMCUyMCUyMCUyMCU<wbr/>yMCUyMCUyMCUyMCUzQ2RpdiUyMGlkJ<wbr/>TNEJTI3ZGl2LWdwdC1hZC05NDM4MTM<wbr/>yLTEwJTI3JTIwc3R5bGUlM0QlMjdoZ<wbr/>WlnaHQlM0E4MHB4JTNCJTIwd2lkdGg<wbr/>lM0ExMDAlMjUlM0IlMjclM0UlMEElM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlM0NzY3JpcHQ<wbr/>lM0UlMEElMjAlMjAlMjAlMjAlMjAlM<wbr/>jAlMjAlMjAlMjAlMjAlMjAlMjAlMjA<wbr/>lMjAlMjAlMjAlMjAlMjAlMjAlMjBnb<wbr/>29nbGV0YWcuY21kLnB1c2glMjhmdW5<wbr/>jdGlvbiUyOCUyOSUyMCU3QiUyMGdvb<wbr/>2dsZXRhZy5kaXNwbGF5JTI4JTI3ZGl<wbr/>2LWdwdC1hZC05NDM4MTMyLTEwJTI3J<wbr/>TI5JTNCJTIwJTdEJTI5JTNCJTBBJTI<wbr/>w

Google suspends some business with Huawei after Trump blacklist - source

The extent to which Huawei will be hurt by the US government's blacklist is not yet known as its global supply chain assesses the impact. | NEW YORK - Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by ."We are complying with the order and reviewing the implications," the Google spokesperson said. "For users of our services, Google Play and the security protections from Google Play Protect will continue to function on existing Huawei devices," the spokesperson said, without giving further details. The suspension could hobble Huawei's smartphone business outside China as the tech giant will immediately lose access to updates to Google's Android operating system. Future versions of Huawei smartphones that run on Android will also lose access to popular services including the Google Play Store and Gmail and YouTube apps. "Huawei will only be able to use the public version of Android and will not be able to get access to proprietary apps and services from Google," the source said. The Trump administration on Thursday added Huawei Technologies Co Ltd to a trade blacklist, immediately enacting restrictions that will make it extremely difficult for the company to do business with US counterparts. On Friday the US Commerce Department said it was considering scaling back restrictions on Huawei to "prevent the interruption of existing network operations and equipment." It was not immediately clear on Sunday whether Huawei's access to mobile software would be affected. The extent to which Huawei will be hurt by

How to register for the Durban Business Fair

DURBAN - Local businesses will have to move fast to snap up the last remaining stands at the Durban Business Fair. The fair is a highlight on the city's business calendar and provides a boost for local businesses that not only get to showcase their products and services but also get to network with possible investors and clients. Businesses that have an interest in exhibiting their products at the main Durban Business Fair at the Inkosi Albert Luthuli ICC and the Durban Exhibition Centre, between September 22 to 29, have until May 31 to register.

Exit polls cheer India's ruling party; markets set to rally

By Swati Bhat, Savio Shetty and Arnab Paul MUMBAI/BENGALURU, May 19 (Reuters) - Indian equities, rupee and bonds are set to rally on Monday after almost all exit polls suggested that the Prime Minister Narendra Modi-led National Democratic Alliance (NDA) was likely to secure a clear mandate at the 2019 national elections. "The market was working with the assumption that the NDA would need to ally with other parties to form the government. To the extent the exit polls are predicting an outright victory for the NDA, we could see a 5-10% equity market rally in the coming weeks," said Saurabh Mukherjea, founder of Marcellus Investment Managers. Votes are set to be counted on May 23 and exit polls suggest a better showing for the NDA than what was expected in recent weeks. The NDA is projected to win 287 seats in the 545-member lower house of parliament followed by 128 for the Congress party-led opposition alliance, the C-Voter exit poll showed. To rule, a party needs the support of 272 lawmakers. Investors expect the Nifty to break the resistance seen at 11,800 levels and possibly surge to 12,200 in coming weeks provided the actual results are in-line with the exit polls. The broader NSE index ended 1.33% higher at 11,407.15 on Friday, while the benchmark BSE index closed up 1.44% at 37,930.77. Both indexes gained over 1% for the week. Jagannadham Thunuguntla, senior vice president and head of research at Centrum Wealth Management said the likely "continuation of policies and reforms is an added comfort," for the markets. Investors expect another 2-3% rally possible in the stock market over the next 3-4 days, but said further moves would depend on the actual election outcome and fundamentals. "If the NDA's numbers cross 300, then the rally will continue beyond May 23," said Mayuresh Joshi, Senior Vice President and fund manager at Angel Broking, adding fa

Barloworld interim results March 2019

Revenue for the first six months was down by 1.6% to R30.4 billion (1H'18: R30.9 billion) despite strong revenue growth in Equipment southern Africa which grew by 15.7% to R10.0 billion (1H'18: R8.7 billion). This was driven by increased mining, construction and service activity in South Africa, together with increased machine and after-market sales in Mozambique and Zambia. Following the record sales in FY18, Equipment Russia revenues reduced by 22.7% to USD229 million (1H'18: USD297 million).

Business as usual for SABC employees after diesel spillage

The South African Broadcasting Corporation (SABC) says it will be business as normal from Monday at its Radio Park building in Auckland Park, Johannesburg following a diesel leak last week. All staff are due back at work after the building was declared safe on Sunday by the Johannesburg Fire Chief and officially handed the building back to the public broadcaster's management. SABC spokesperson Vuyo Mthembu says, "I can confirm that the Radio Park building has been declared safe by the Johannesburg EMS as well as the fire chief and the building has been handed back over to the SABC ." "This declaration follows a final air sampling and health and safety inspection which took place yesterday (Sunday).

African Markets - Factors to watch on May 20

NAIROBI, May 20 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Monday. - - - - - EVENTS NIGERIA Q1 GDP RESULTS Nigeria's statistics office releases economic growth results for the first quarter of 2019. GLOBAL MARKETS Asian shares steadied on Monday as investors caught their breath following another week of escalating U.S.-China trade tensions, with sentiment turning brighter after the United States said it would lift tariffs in North America. MKTS/GLOB WORLD OIL PRICES Oil rose to multi-week highs on Monday after OPEC indicated it will likely maintain production cuts that have helped support prices this year, while tensions continued to escalate in the Middle East. O/R EMERGING MARKETS For the top emerging markets news, double click on STOCKS For the latest news on African stocks, click on .J ZIMBABWE ECONOMY Zimbabwe's central bank has secured a $500 million loan from unspecified international banks to support interbank currency trading from Monday and ease a dollar crunch that has brought fuel and medicine shortages, Governor John Mangudya said.

Anglo American heads up underground WiFi

travis.richards Mon, 05/20/2019 - 16:20 Teaser Media Paragraphs Mining giant Anglo American believes the introduction of underground Wi-Fi will change the mining industry. #Dstv403 JOHANNESBURG - Mining giant Anglo American believes the introduction of underground Wi-Fi will change the mining industry. The company is rolling out Wi-Fi and smartphones to improve productivity, working conditions, and safety.

BRIEF-Barloworld Entered Talks To Acquire Wagner Asia

May 20 ( ) - Barloworld (LON:BWOB) Ltd BAWJ.J : * ENTERED INTO NEGOTIATIONS, COMMENCED A DUE DILIGENCE PROCESS TO ACQUIRE WAGNER ASIA GROUP LIMITED, MONGOLIAN BASED EQUIPMENT DEALER.

Business Maverick: The Trade war has sunk emerging markets. There's more to come.

Stocks were on course for their worst month since October, while currencies suffered their biggest weekly loss in a year, erasing gains for the year. Brazil's real led the drop as protests added to political tensions and growth forecasts declined, followed by the rand in South Africa, whose pledge to keep Eskom Holdings. afloat is weighing on the government's debt..

Indian markets cheer Modi's likely return to power

* Rupee rises as much as 1.2 pct, stock market flows eyed * Markets to consolidate from here on, await election results * Investors cheer possible Modi return but expect more (Updates with details, quotes, stocks, background) By Swati Bhat and Arnab Paul MUMBAI/BENGALURU, May 20 (Reuters) - Indian markets rallied on Monday after exit polls showed Prime Minister Narendra Modi was set to win a second term after a general election with an even bigger mandate than in 2014. Exits polls, following the mammoth seven-phase election ended on Sunday, showed Modi's National Democratic Alliance (NDA) was projected to win between 339 and 365 seats in the 545-member lower house of parliament when votes are counted on Thursday. Markets had been expecting the NDA to win a second term but the margin of victory as suggested by the polls is a clear surprise and expected to keep sentiment buoyant in the near term. The NSE share index was up 2.46% at 11,688.05 points as of 0558 GMT, while the benchmark BSE index was 2.57% higher at 38,906.76 points. India's NSE stock futures listed on the Singapore exchange , an indicator for the broader NSE index, was up 2.34% as of 0601, after rising as much as 2.76%. "I expect another 2-3% rally in the market in the next 3-4 days based on the cue," said Samrat Dasgupta, a fund manager at Esquire Capital Investment Advisors. "But once the results are out on Thursday, even if it is as expected, I don't see much upside to the market." Markets are likely to hold in a range ahead of the vote count on Thursday with a bullish bias. The Nifty which has seen strong resistance at 11,800 levels could look to break that and move towards 12,200, analysts said. RUPEE, BONDS GAIN India's bonds and rupee have both held in a tight range in recent weeks despite the positive underlying bias as investors stayed on

Business Maverick: The Trade war has sunk emerging markets. There's more to come.

Another week, another leg of the emerging-market rout. "There are no deadlines" for pressure on risky assets to ease, said Alejandro Cuadrado, a senior strategist at BBVA in New York. "Emerging currencies are starting to be quite cheap, but demand will be limited with uncertainty and the fact that even when we were pricing more benign scenarios, they didn't perform." Cuadrado says that the Brazilian real could do worse in the near term, along with the Chilean peso.

WATCH: Stock pick — Anglo American

Martin Smith from Anchor Securities chose Anglo American as his stock pick of the day. "At the moment I choose Anglo American, I like them at this level. It's looking on a spot price-earnings level, it's very cheap. They have de-geared their balance sheet quite substantially and if we have a positive resolution with the US-China trade negotiations, I think the share can rally quite nicely.".

GLOBAL MARKETS-Australian, Indian elections boost Asian shares, trade fears ease

* MSCI Asia ex-Japan +0.5%; China blue-chips drag * Elections lift shares in Australia, India * Oil up more than 1.3% after Saudi minister comments * Asian stock markets: tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, May 20 (Reuters) - Asian shares clawed back some of last week's losses as investors cheered apparent election wins for conservative incumbents in Australia and India, while broader global trade worries eased after Washington offered to lift some tariffs in North America. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.54%, reflecting modest gains in markets across the region after the broad index finished at its lowest since Jan. 24 on Friday, down 3% for the week.

MiX Telematics delivers solid business growth with strong fiscal 2019 results

YouTube LinkedIn Twitter Facebook Breaking news MiX Telematics (NYSE: MIXT, JSE: MIX), a leading global provider of fleet and mobile asset management solutions delivered as software as a service (SaaS), today announced financial results for its fourth quarter and for its full fiscal year 2019, which ended on 31 March 2019, delivering another strong performance and substantial growth across key markets. "I am proud to say that we have again ended another year off with an impressive set of results. The strong performance was driven by continued growth in our premium fleet subscriptions globally, improvements in ARPU and ongoing operating leverage in the business," said Stefan Joselowitz, CEO at MiX Telematics.

GLOBAL MARKETS-Asian shares steady after slump, oil jumps on Saudi comments

* MSCI Asia ex-Japan +0.6%; China blue-chips drag * Australian shares surge on shock election result * Oil up more than 1.4% after Saudi minister comments * Asian stock markets: https://tmsnrt.rs/2zpUAr4 By Andrew Galbraith SHANGHAI, May 20 (Reuters) - Asian shares steadied on Monday as investors caught their breath following another week of escalating U.S.-China trade tensions, with sentiment turning brighter after the United States said it would lift tariffs in North America.MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.6%, reflecting modest gains in markets across the region after the broad index finished at its lowest since Jan. 24 on Friday, down 3% for the week. Australian shares .AXJO underpinned the market's firmer mood, jumping 1.7% after the centre-right Liberal National Coalition pulled off a shock win in federal elections, beating the left-wing Labor Party. results also look set to lift markets in India.

A bounty of Shiraz & Venison at Nederburg, Paarl during Seven Days of Shiraz & Venison

Offered individually, or as a set menu at R395 per person, guests can sit back and relax in the warm and inviting atmosphere of the historic manor house, where The Red Table restaurant is situated, while savouring a starter of springbok gravlax served on a blini with Shiraz-infused blueberry compote and crème fraîche (R115 individually); a main course of springbok loin with sweet potato gnocchi, roasted root vegetables and Shiraz jus (R225 individually); and/or a dessert of red wine and dark chocolate cake with Shiraz-poached pear (R95 individually).  The main course is served with a complimentary glass of Nederburg's velvety soft Manor House Shiraz 2016 that abounds with rich dark berry and cherry flavours and spicy notes of cinnamon and clove.  Visit the Nederburg Visitors' Centre, a short walk away from the manor house, for a complimentary tasting of Nederburg's The Winemasters Shiraz 2017 and Manor House Shiraz 2016, with a delicious serving of cubes of dark chocolate marquise with Turkish delight rubies.                                                      The Red Table restaurant's special offer during Seven Days of Shiraz & Venison is only available from 11 to 16 June (Tuesday to Sunday), while the Visitors' Centre tasting is on offer for the entire seven days, from 10 to 16 June (Monday to Sunday).  With Father's Day being celebrated on Sunday, 16 June, make a reservation at The Red Table as soon as possible to avoid disappointment.  Nederburg contact details : Sonstraal Road, Dal Josafat, Paarl Tel: +27 21 862 3104 E-mail:  nedwines@distell.co.za   The Red Table restaurant contact details: Tel: +27 21 877 5155 E-mail:  theredtable@dishfood.co.za      Nederburg Visitors' Centre trading hours: Mondays to Fridays:               09:00 to 17:00 (May to September) (tastings until 16:30) Saturdays and Sundays:          10:00 to 16:00 (tastings until 15:30) Public holidays:                   

Why share prices aren't always what they should be

And the opportunity for contrarian investors. One of the fundamentals of investing in the stock market is understanding what a share price represents. Each share is a part ownership of a company, and the value of all those shares adds up to the overall value of the company. That of course begs the question of how that value is arrived at.

Trump takes aim at Chinese telcos

US president Donald Trumps announcement aimed at Chinese telecommunications companies dominated the international ICT market last week.At home the listing of MTNs Nigerian subsidiary in Nigeria was one of the main stories.Key local news* Good yearend figures from MiX Telematics with revenue up 15.4% and profit up 11.6%.* Mixed yearend figures from Datatec with revenue up 10.4% but profit down 64.2%; and Vodacom with revenue up 0.3% but profit down 0.2%.* A positive trading update from ISA.* Vodacom acquired a 51% stake in South African Internet of things specialist IoT.nxt.* Blue Label Telecoms made a 50% investment in Hyve Mobile a nextgeneration mobile content and valueadded services platform.* Huge Group has agreed to acquire an interest in Pansmart giving it control over an authorised distributor of Panasonics voice video and CCTV products.* StorTech has changed its name to Nexio.Key African news* Mixed yearend figures from Vodacom Tanzania with revenue up 5.5% but profit down almost 10%.* Microsoft will invest $100 million to open an Africa technology development centre with sites in Kenya and Nigeria over the next five years.* MTN Nigeria has commenced its listing on the Nigerian Stock Exchange.* The appointment of Brandon Bekker as Mimecasts SVP for the EMEA region.Key international news* Ahead acquired Link Solutions Group a company with data centre expertise and experience delivering storage compute and networking solutions.* Apptio bought Cloudability a FinOps pioneer and longtime Apptio partner.* Brookfield Asset Management purchased Vodafones New Zealand business for EUR2.1 billion.* Descartes Systems Group acquired Core Transport Technologies NZ an electronic transportation network that provides global air carriers and ground handlers with shipment scanning and tracking solutions.* HPE bought Cray a supercomputer manufacturer for $1.3 billion.* Magic Software bought PowWow whose SmartUX is redefining digital transformation in the enterprise arena.* Perficient purchased the ass

LIVESTREAM: Market risk analyst testifies at PIC inquiry

PRETORIA - The commission of Inquiry into the Public Investment Corporation is set to continue with its work on Monday. Last week the inquiry heard how the PIC invested over a billion Rand into Daybreak Farm, a company that was basically bankrupt. But Head of Impact Investing Royith Rajdhar says it was all worth it at the time and despite all the red flags, he says the PIC had a plan.

South Africa's Barloworld H1 earnings jump 14%

JOHANNESBURG, May 20 (Reuters) - South Africa's Barloworld (LON:BWOB) Ltd BAWJ.J , a dealer for Caterpillar Inc (NYSE:CAT) CAT.N and other industrial equipment brands, reported a 14.1% gain in first-half earnings on Monday, driven by its southern Africa Equipment division. Headline earnings per share (HEPS) from continuing operations increased to 476 cents in the six months to March 31, from 457 cents a year earlier, the company said in a statement. HEPS strips out once-off items ands is the main profit measure used in South Africa. Barloworld, which sells construction, mining and industrial machinery in southern Africa and parts of Europe and also has a car sales and rental business, said it was in talks to acquire Wagner Asia Group, a Mongolian-based equipment dealer. Barloworld announced an interim dividend of 165 cents per share, up 13.8 percent from 145 cents a year ago..

ARTHUR GOLDSTUCK: Fibre in the diet improves the business mood

The rapid shift occurring from ADSL to fibre as a primary form of fixed-line broadband in SA is throwing up fascinating insights This article is reserved for Sunday Times subscribers. A subscription gives you full digital access to all Sunday Times content. Already subscribed? Simply sign in below.

Edcon to use R2.7bn lifeline to restructure business

JOHANNESBURG - Edcon chief executive Grant Patttison has said that the group would use the R2.7 billion lifeline it received from lenders, landlords and the Public Investment Corporation (PIC) to restructure its business model in order to its competitiveness. Pattison said the restructuring would include the resizing of some of its units into operations that worked better. "We have committed to an Edgars as a department store where big stores work better than small stores," Pattison told analysts, suppliers and students and the Gordon Institute of Business.

South Africa's Pioneer Foods H1 earnings down on maize shortfall

PNR-FOODS:   8,306     0 (0.00%)   20/05/2019 00:00 JOHANNESBURG, May 20 (Reuters) - South Africa's Pioneer Food Group reported a decline in half-year earnings on Monday, driven down by maize shortages. Diluted adjusted headline earnings per share (HEPS)for the six months ended March 31 fell 14% to 272.4 cents from 320 cents a year earlier, the food and beverage company said. HEPS is the main profit measure used in South Africa, which strips out once-off items. Pioneer issued a dividend of 105 cents per share for the six month ended 31 March 2019 (Reporting by Onke Ngcuka, editing by Louise Heavens) 2019-05-20 08.

Soaring costs dent Pioneer Foods' half-year earnings

Investment was made in growth capabilities, while higher fuel prices affected distribution and energy-related elements Pioneer Foods, which makes Sasko breads and Ceres juices, says earnings fell in the six months to end-March as costs rose faster than sales. Adjusted headline earnings declined 15% to R506m even as revenue rose 11.5% to R11bn. The cost of goods sold jumped 14%. "Increased operating costs were driven by the considered investment in future growth capabilities, as well as the higher cost of fuel, impacting distribution and energy-related cost elements," Pioneer said. The group kept its interim gross dividend unchanged at R1.05 per ordinary share. Pioneer said sales volumes were 2.7% higher in the six-month period, but excluding the recently acquired Wellingtons and Lizi's businesses, revenue grew 7.9% with volumes up 1.3%. "This represents a credible top-line performance in the significantly constrained local consumer market with consequent competitive pressures," the group said. Revenue growth was driven by "sound volume growth" in key product categories, including bread, wheat, rice, beverages, cereals in the UK and sausage rolls in Nigeria. Total basket inflation of 6.6% was ahead of overall consumer price inflation in SA. "Volume declines in maize and cereals constrained further revenue growth," Pioneer said. The group said it gained market share in SA. The trading environment will remain tough, with pressure on consumer demand and spending, it said. Cost inflation in key raw materials and other operational input costs "remains present although it is starting to level off". Given that it remains difficult to pass on higher costs to consumers, pressure on operating margins is expected to continue. "The group will continue efforts to optimise costs and efficiencies while ensuring its brands remain available and relevant to customers and consumers, thus strengthening the base for continued growth," it said. hedleyn@businesslive.co.za.

Aspen close to dispensing infant formula business

The pharmaceuticals group's high level of debt has concerned investors and the sale will help it deleverage its balance sheet. Aspen expects to wrap up the €635 million sale of its Nutritional Business by the end of the month after it received the green light from New Zealand's authorities last week. In an update on the deal, the pharmaceuticals group said the New Zealand Overseas Investment Office granted approval on Friday to France's Lactalis for the acquisition of Aspen's business in that country.

South Africa's Aspen sells Australian prescription portfolio to Mylan

JOHANNESBURG, May 20 (Reuters) - Aspen Pharmacare APNJ.J said on Monday that Mylan NV MYL.O had exercised an option to buy Aspen's portfolio of prescription and over-the-counter products in Australia for 188 million Australian dollars ($130 million). In December, South Africa-based Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialised in Australia and New Zealand. distribution arrangement included an option for Mylan to acquire this portfolio from Aspen Global Incorporated and Aspen Australia. ($1 = 1.4432 Australian dollars).

Joburg battery-stealing syndicate finally caught

The team has been following the suspects that are stealing back-up batteries from Vodacom, MTN and Telkom towers. about 1 hour ago An intelligence-driven operation comprising of South African Police Services, Bidvest Coin Security, Ekurhuleni Tactical Task Team and local security companies led to the arrest of five suspects and recovery of tower back-up batteries with an estimated value of R900 000 in Petunia Street, Rosettenville, Comaro Chronicle reports. The team has been following the suspects that are stealing back-up batteries from Vodacom, MTN and Telkom towers.

GLENCORE PLC - GLN: Transactions In own Shares - 17 May 2019

GLN 201905200018A GLN: Transactions In own Shares - 17 May 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 20 May 2019 Transactions in own shares-17 May 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 May 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 3,000,000 Lowest price paid per share (GBp): 271.7000 Highest price paid per share (GBp): 278.2500 Volume weighted average price paid per share (GBp): 274.3705 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 817,657,649 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 13,768,542,417. 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 274.3734 1,677,046 BATS 274.2707 82,782 Chi-X 274.3734 1,240,172 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

Dennis George fired by Fedusa after two decades in charge

Veteran dismissed for serious misconduct sees a future as a tech entrepreneur The Federation of Unions of SA (Fedusa) on Friday fired Dennis George, the longest-serving leader of a SA trade union, after more than 20 years at the helm of the organisation. Fedusa dismissed George, its former general secretary, saying he was guilty of serious misconduct with respect to his private investment in controversial Ayo Technology Solutions. George is the first high-profile casualty following a judicial inquiry into allegations of impropriety at SA's largest asset manager, the Public Investment Corporation (PIC). One of the matters in the spotlight is the December 2017 listing of Ayo on the JSE. The PIC, which oversees more than R2-trillion and whose biggest client is the Government Employees Pension Fund (GEPF), was Ayo's major backer.

Phambili Interface to exhibit at the Africa Automation Fair

This content is not written by Creamer Media, but is a supplied media statement. Phambili Interface - a proudly Bidvest company and the exclusive distributor for Weidmüller's connectivity and interface products in southern Africa - will be exhibiting at the Africa Automation Fair (AFF), a tradeshow taking place in Johannesburg at the Ticketpro Dome from 4-6 June 2019. A highlight at the Phambili stand at AFF will be Weidmüller's perfectly coordinated IIoT u-mation portfolio.

Amplats fires half Mototolo workforce after unprotected strike

The strike, aimed at medical aid benefits after Amplats took over Glencore's stake in Mototolo, has led to tough action Anglo American Platinum (Amplats) laid off about half of the underground workforce at its Mototolo mine after an unprotected strike over changes to conditions of service. Amplats, the world's largest producer of platinum, said the General Industrial Workers Union of South Africa (Giwusa) had declared a dispute at the Limpopo mine, in which it has full control after buying out the stake held by Glencore. However, the union alleged that changes Amplats made to the medical aids of those coming from Glencore's payroll, to bring them in line with its own systems, were a "unilateral change in employees' conditions of service". Amplats argued the schemes entailed similar benefits. The union declared a dispute with Mototolo at the Commission for Conciliation, Mediation and Arbitration (CCMA) on May 9. A day later, Amplats was granted a court interdict preventing the union from striking. Employees belonging to the union went on strike anyway and have not heeded calls to return to work. "These requests have been ignored and Amplats has therefore been left with no option but to dismiss about 50% of Mototolo mine's underground workforce," Amplats said in a statement. It is believed that about 600 employees were dismissed, but they have until May 21 to appeal the termination of their employment. "The impact on production has been minimal thus far," the company said, adding that it was "exploring options" to return the mine to full production as soon as possible. The National Union of Mineworkers (NUM) said unlike the five-month strike at Sibanye-Stillwater's gold mines, the Mototolo strike was not violent. Mototolo is by far the smallest mine in Amplats's suite of SA mines, generating 57,000oz of platinum group metals (PGMs) in the first quarter of 2019. The second smallest SA is Amandelbult, which produced 193,000oz of PGMs. While Mototolo is small, it is key to cheaply and quickly o

25 years of Brands & Branding

Over the past 25 years, innovative and effective branding practice has advanced in South Africa, creating massive brand value and driving growth in many sectors while contributing significantly to the economy. Since 1993, Affinity Publishing's annual Brands & Branding has tracked the unfolding story with case studies, brand profiles, research and thought leadership from many sources, featuring brands as diverse as Black Cat peanut butter to Coca-Cola and Shoprite Checkers in its pages. A hundred and sixty two brands participated in the first edition of Brands & Branding in 1993.

Flash Briefing: Richemont jumps on results; Aussies move Right; Personal Finance hits the Ivy League

After being behind in the polls for two years, Australia's conservative government won a surprise victory in Saturday's elections, taking over the line voters in resource-rich districts. They turned against centre-left opponents who had put climate change at the heart of their campaign. With most of the votes counted, last night political experts predicted the government would win a couple more than the 73 seats they held going into the election.

KAP INDUSTRIAL HOLDINGS LIMITED - Interest payment notification - KAP008 KAP009

KAP009 KAP008 201905200020A Interest payment notification - KAP008 KAP009 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 payments: Bond code: KAP009 ISIN: ZAG000144106 Coupon: 9.100% Interest period: 25 February 2019 to 23 May 2019 Interest amount due: R10 969 863.01 Payment date: 24 May 2019 Date convention: Following business day Bond code: KAP008 ISIN: ZAG000140971 Coupon: 9.150% Interest period: 28 February 2019 to 27 May 2019 Interest amount due: R8 344 298.63 Payment date: 28 May 2019 Date convention: Following business day 20 May 2019 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 20/05/2019 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..

Eskom woes pushing SA business toward green buildings

Green buildings are increasingly in demand in the face of concerns around Eskom's ability to supply power. At the recent African Utility Week conference, energy minister Jeff Radebe told delegates that "Eskom alone cannot meet our power capacity requirements, because we estimate that the capacity extension under the Integrated Resource Plan (IRP) will cost in excess of R1-trillion in the period up to 2030, including the new power plants plus the requisite transmission and distribution infrastructure". Property company Redefine recently noted that installing renewable energy interventions is an area with scope for growth, notably to alleviate some of the pressure caused by Eskom's blackouts and tariff increases.

Aspen Pharmacare Announces Divestment Of Portfolio Of Prescription And OTC Products In Australia To Mylan

(Reuters) - Aspen Pharmacare Holdings Ltd: * ASPEN?S DIVESTMENT OF A PORTFOLIO OF PRESCRIPTION AND OTC PRODUCTS IN AUSTRALIA TO MYLAN * MYLAN EXERCISED OPTION, TO BUY PORTFOLIO OF PRODUCTS FROM AGI AND ASPEN AUSTRALIA FOR A MAXIMUM CONSIDERATION OF AUD 188 MILLION * PROCEEDS FROM DEAL WILL BE USED TO REDUCE ASPEN'S GEARING Source text for Eikon: Further company coverage: 2019-05-20 09.

Anglo American Platinum fires 50 percent of underground workers at Mototolo mine

JOHANNESBURG, May 20 (ANA) - Anglo American (LON:AAL) Platinum (AAP) said on Monday it had dismissed about 50 percent of the underground workforce at its Mototolo mine over an unsanctioned strike and gave them until Tuesday to appeal. In a statement, the company said the impact on production had been minimal thus far and AAP was exploring options to ensure that Mototolo recommenced full production as soon as practically possible. The General Industrial Workers Union of South Africa (GIWUSA) served a notice on AAP to strike at Mototolo on May 9, following a dispute regarding employees' medical scheme after the purchase of the mine from Glencore (LON:GLEN) last November. GIWUSA employees embarked on the strike on May 12, despite AAP having been granted an interim court interdict against the industrial action on May 10. "Anglo American Platinum has appealed to GIWUSA to end the unprotected strike and for striking employees to return to work," it said on Monday. "These requests have been ignored and AAP has therefore been left with no option but to dismiss about 50 percent of Mototolo Mine's underground workforce." Fired workers had until May 21 to appeal AAP's decision, the company said, adding that it was disappointed by the conduct of the union and its members "at a time in which socio-economic pressures continue to detrimentally impact the sector and employment is so scarce". - African News Agency (ANA), Editing by Stella Mapenzauswa.

Gauteng: Four car collision in Sandton

Gauteng: At 12H44 Sunday afternoon Netcare 911 responded to reports of a collision on the N1 between Rivonia Road and William Nicol in Sandton. Reports from the scene indicate that four vehicles were involved in a collision. Paramedics assessed the scene and found that the Motorists involved in the collision sustained minor injuries. Once treated all the patients were transported by various ambulance services to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911 https://t.co/JltVcIiK9V #ArriveAlive @Netcare911_sa pic.twitter.com/6Qryk2DSsH — Arrive Alive (@_ArriveAlive) May 19, 2.

South Africa's Aspen sells Australian prescription portfolio to Mylan

JOHANNESBURG, May 20 (Reuters) - Aspen Pharmacare said on Monday that Mylan NV had exercised an option to buy Aspen's portfolio of prescription and over-the-counter products in Australia for 188 million Australian dollars ($130 million). In December, South Africa-based Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialised in Australia and New Zealand. The distribution arrangement included an option for Mylan to acquire this portfolio from Aspen Global Incorporated and Aspen Australia.

Business Intelligence Analyst Developer Consultant wanted: APPLY NOW

Business Intelligence Analyst - Developer Opti-Num Solutions is looking for a motivated, creative and technical person to join our consulting team. Successful applicants will work both independently and in a small, focussed team of highly skilled, motivated and passionate individuals. Business intelligence (BI) is the transformation of raw data into meaningful and useful information for business optimisation purposes.

JSE set for mixed start on Monday as Tencent falls in Hong Kong

SA's main stock exchange may open as simmering trade tensions keep risk appetite in check SA's main stock exchange could open mixed on Monday as simmering trade tensions keep risk appetite in check. Google has barred Chinese phone maker Huawei from accessing updates to its Android operating system and its apps, according to media reports. This follows an order from US President Donald Trump that American firms cannot do business with Huawei unless they are granted special permission. The move came after trade talks between the world's two largest economies appeared to break down. Stocks in the Asia-Pacific were mixed on Monday. China's Shanghai Composite index fell 0.6% and Hong Kong's Hang Seng index lost 0.4%.

Gold mining is far from dead in SA

Fresh round of predictions that the sector is on its last legs, but the figures show otherwise. It's been nearly 150 years since the formation of the Transvaal Gold Mining Company Limited in 1872. The first gold mining company to be registered in South Africa, it was formed following the discovery of gold on the farm Eersteling, near Polokwane.

5 critical steps for a successful BI implementation

Decision-makers understand that data drives the digital business. And one of the most efficient ways to extract value out of this is through business intelligence (BI). But in a real-time world, companies can ill afford to spend months on an implementation.

State spooks undermined Sars to favour tobacco smugglers, claims former top spy

The SA Revenue Service (Sars) was the target of coordinated intelligence operations aimed at derailing its investigation into tobacco smuggling and the local tobacco industry, the country's former top spy Arthur Fraser has claimed. Fraser's astounding allegation in response to Dr Sydney Mufamadi's High-Level Review Panel's Report on the SSA is contained in paragraph 55 of his reply to Mufamadi, saying it was one of the issues Mufamadi should have reviewed. Shortly before Fraser's reply was issued, seemingly tangible proof surfaced that South Africa's security agencies have had, on the face of it, solid evidence from someone at the heart of the matter since 2014 of criminal activity by state intelligence operatives and the tobacco industry - and have done nothing about it.

BRIEF-Amplats To Dismiss About 50% Of Mototolo Underground Workforce

May 20 ( ) - Anglo American (LON:AAL) Platinum Ltd AMSJ.J : * UNPROTECTED INDUSTRIAL ACTION AT ANGLO AMERICAN PLATINUM'S MOTOTOLO MINE* GIWUSA SERVED A STRIKE NOTICE ON ANGLO AMERICAN PLATINUM (AAP) AT MOTOTOLO MINE ON 9 MAY * TO DISMISS ABOUT 50% OF MOTOTOLO MINE'S UNDERGROUND WORKFORCE* TO DISMISS ABOUT 50% OF MOTOTOLO'S UNDERGROUND WORKFORCE AS REQUESTS TO END ACTION HAVE BEEN "IGNORED" BY GIWUSA * DISMISSED EMPLOYEES HAVE UNTIL 21 MAY TO APPEAL CO'S DECISION* IMPACT ON PRODUCTION FROM GIWUSA ACTION HAS BEEN MINIMAL * EXPLORING OPTIONS TO ENSURE MOTOTOLO MINE RECOMMENCES FULL PRODUCTION AS SOON AS PRACTICALLY POSSIBLE.

Eskom is pushing SA Inc towards green buildings

Companies compelled to consider alternative power sources to ensure business continuity. Green buildings are increasingly in demand in the face of concerns around Eskom's ability to sustainably supply power. At the recent African Utility Week conference, energy minister Jeff Radebe told delegates that "Eskom alone cannot meet our power capacity requirements, because we estimate that the capacity extension under the Integrated Resource Plan (IRP) will cost in excess of R1 trillion in the period up to 2030, including the new power plants plus the requisite transmission and distribution infrastructure". Property company Redefine recently noted that installing renewable energy interventions is an area with scope for growth, notably to alleviate some of the pressure caused by Eskom's blackouts and tariff increases. For the six months to February 2019, Redefine saw total solar photovoltaic (PV) capacity increase to 23.5 megawatt-peak (MWp; power output at rated laboratory conditions) across its property portfolios. The property company says green buildings remain a key development priority in line with creating a sustainable business. Green buildings offers a multitude of benefits "Our green buildings benefit our business, our tenants and our environment by utilising the latest technology across designs, drawing less power from the grid, reducing our carbon footprint, and optimising operational costs," says CEO Andrew König. Pieter Strydom, commercial asset manager at Redefine Properties, says that while Sandton has an oversupply of office space, well located prime grade green buildings remain in demand, keeping vacancy in that market segment low. "While traffic remains the key detractor in the Sandton node, new builds offer amenities, accessibility to transport and efficient green-building designs," he notes. Global move towards renewable solutions Oil giant Total launched a programme two years ago to equip about 5 000 of its service stations globally with solar power by 2021.

NEWS WRAP ~ 20 MAY 2019

This is a summary of ANA top news stories. Termite infestation has authorities in Seychelles looking closely at imported wood In a bid to control a termite infestation, authorities in Seychelles are intensifying measures at wood vendors and increasing surveillance at different ports. The steps are being taken following complaints of infestation brought forth on social media by members of the public after they had bought wood that was infested with termites.

WIN tickets to the Wacky Wine Weekend

Home News WineNews WIN tickets to the Wacky Wine Weekend By Christian Eedes - May 20, 2019 0 SHARE Facebook Twitter Win tickets to the Wacky Wine Weekend taking place from 7 to 9 June. Presented by the Robertson Wine Valley, wine lovers can enjoy cellar tours, interactive tastings plus dedicated food and wine pairings. There are two sets of double tickets (worth R400 a pair) up for grabs.

Two injured in Krugersdorp crash

Netcare 911 responded to reports of a collision on Barratt Road in Silverfields Krugersdorp. Reports from the scene indicate that four vehicles and a motorbike were involved in a collision. Two people sustained moderate injuries and were treated on scene.

LIVESTREAM: Market risk analyst testifies at PIC inquiry

lubabalo.konzapi Mon, 05/20/2019 - 10:00 Teaser Media Paragraphs PRETORIA - The commission of Inquiry into the Public Investment Corporation is set to continue with its work on Monday. Last week the inquiry heard how the PIC invested over a billion Rand into Daybreak Farm, a company that was basically bankrupt. But Head of Impact Investing Royith Rajdhar says it was all worth it at the time and despite all the red flags, he says the PIC had a plan.

Gauteng: Two injured in Krugersdorp crash

Netcare 911 responded to reports of a collision on Barratt Road in Silverfields Krugersdorp. Reports from the scene indicate that four vehicles and a motorbike were involved in a collision. Two people sustained moderate injuries and were treated on scene. Once stabilised both patients were transported by ambulance to hospital for further treatment. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911 https://t.co/lfMbLBZ26N #ArriveAlive @Netcare911_sa pic.twitter.com/w2NRE7sLui — Arrive Alive (@_ArriveAlive) May 19, 2.

PIONEER FOOD GROUP LIMITED - Unaudited Condensed Consolidated Interim Financial Statements For The Six Months Ended 31 March

PFG 201905200001A Unaudited Condensed Consolidated Interim Financial Statements For The Six Months Ended 31 March 2019 Pioneer Food Group Limited Incorporated in the Republic of South Africa Registration number: 1996/017676/06 Tax Registration number: 9834/695/71/1 Share code: PFG ISIN code: ZAE000118279 (‘Pioneer Foods' or ‘the Group' or ‘the Company') UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 31 MARCH 2019 SALIENT FEATURES Revenue +12% R11 039 million Adjusted operating profit (before items of a capital nature)* -23% R729 million Earnings -18% R509 million Earnings per share -18% 272 cents Diluted earnings per share -14% 272 cents Headline earnings (‘HE') -14% R509 million Headline earnings per share -14% 272 cents Diluted headline earnings per share -9% 272 cents Adjusted headline earnings* -15% R506 million Adjusted headline earnings per share* -15% 271 cents Net cash profit from operating activities -19% R971 million Net asset value per share +4% 4 508 cents Interim gross dividend per listed ordinary share (2018: 105 cents) - 105 cents * HE and operating profit (before items of a capital nature) are adjusted for the impact of the share-based payment charge of the Phase I B-BBEE equity transaction and related hedge. Pioneer Foods: +27 21 974 4000 Tertius Carstens: +27 83 627 2077; tertius.carstens@pioneerfoods.co.za Felix Lombard: +27 83 635 8278; felix.lombard@pioneerfoods.co.za COMMENTARY INTRODUCTION Pioneer Foods posted revenue growth of 11.5% to R11.039 billion with volumes 2.7% higher for the six months ended 31 March 2019. Excluding the acquired Wellingtons and Lizi's businesses revenue grew by 7.9% with volumes up by 1.3%. This represents a credible topline performance in the significantly constrained local consumer market with consequent competitive pressures. Revenue expansion was driven by sound volume growth in key product categories such as bread, wheat, rice, beverages (long life fruit juice), cereals in the UK and sau

ASPEN PHARMACARE HOLDINGS LIMITED - Aspens Divestment of a Portfolio of prescription and OTC products in Australia to Mylan

APN 201905200019A Aspen's Divestment of a Portfolio of prescription and OTC products in Australia to Mylan ASPEN PHARMACARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) (‘Aspen Holdings') Registration number: 1985/0002935/06 Share code: APN ISIN: ZAE000066692 and its subsidiaries (collectively ‘Aspen' or ‘the Group') ASPEN'S DIVESTMENT OF A PORTFOLIO OF PRESCRIPTION AND OTC PRODUCTS IN AUSTRALIA TO MYLAN Shareholders are referred to Aspen's announcement of 13 December 2018 wherein it was confirmed that its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated (‘AGI'), and its Australian subsidiaries (‘Aspen Australia'), had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan N.V. (collectively ‘Mylan'), in respect of a portfolio of prescription and over-the- counter (‘OTC') products commercialised by Aspen in, primarily, Australia and New Zealand, with effect from 1 December 2018. It was also announced that this distribution arrangement included an option for Mylan to acquire this portfolio from AGI and Aspen Australia. Aspen is pleased to confirm that Mylan has exercised this option and will acquire this portfolio of products from AGI and Aspen Australia for a maximum consideration of AUD 188 million, of which AUD 93 million is payable by 29 May 2019, AUD 30 million is payable in January 2020 and up to AUD 65 million is payable in September 2020.

Google suspends some business with Huawei after Trump blacklist - source

New York - Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters. "We are complying with the order and reviewing the implications," the Google spokesperson said.

5 things you need to know in SA business today and the most important inventions of the last 30 years

1. The Reserve Bank's monetary policy committee is meeting this week to decide on interest rates. Despite the many signs that the economy shrank in the first quarter, a rate cut is not expected. In a report, PricewaterhouseCoopers said it believes that SARB Governor Lesetja Kganyago will send a warning to the new Ramaphosa government that monetary policy cannot be the linchpin for stimulating the economy, and that fiscal and other policy reforms are needed to lift South Africa's economic growth rate to a meaningful level that can reduce unemployment and inequality.

This SA startup sees opportunities in assisting medical tourists

South African startup Med-Afrique is spying opportunities across the continent as it taps into the growing medical tourism industry. Formed in February 2018, Med-Afrique is a medical tourism agency launched in a bid to support patients from across the continent access healthcare services in South Africa.   In addition to helping users find the best hospitals and physicians, at the best prices, it also assists with other aspects of a client's trip to South Africa, including pre-booking consultations, sourcing and booking flights and accommodation, arranging in-country transportation, securing an interpreter where required, and making suggestions and bookings for any other activities.

LISTEN: Dennis George speaks out following his axing from Fedusa

Axed Fedusa  secretary general Dr Dennis George  is adamant he was not given a fair opportunity to state his case to the federation's highest decision-making body. He was speaking to the POWER Breakfast team on Monday. George was dismissed after being found guilty of serious misconduct.

Joburg battery-stealing syndicate finally caught

The team has been following the suspects that are stealing back-up batteries from Vodacom, MTN and Telkom towers. 6 mins ago An intelligence-driven operation comprising of South African Police Services, Bidvest Coin Security, Ekurhuleni Tactical Task Team and local security companies led to the arrest of five suspects and recovery of tower back-up batteries with an estimated value of R900 000 in Petunia Street, Rosettenville, Comaro Chronicle reports. The team has been following the suspects that are stealing back-up batteries from Vodacom, MTN and Telkom towers.

South Africa's Pioneer Foods H1 earnings down on maize shortfall

JOHANNESBURG (Reuters) - South Africa's Pioneer Food Group reported a decline in half-year earnings on Monday, driven down by maize shortages. Diluted adjusted headline earnings per share (HEPS)for the six months ended March 31 fell 14% to 272.4 cents from 320 cents a year earlier, the food and beverage company said. HEPS is the main profit measure used in South Africa, which strips out once-off items.

Researchers see manganese helping fuel cells down cost curve

JOHANNESBURG (miningweekly.com) - A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate electricity. Science Daily quotes Professor David Antonelli , the physical chemistry chairperson at Lancaster University, as saying the use of manganese-based sieves may result in hydrogen fuel cell systems costing many times less than lithium-ion batteries used in electric vehicles.

De Beers plans new ship to mine for gems

De Beers CEO Bruce Cleaver says the new ship will help recover diamonds more efficiently. Image: Supplied. De Beers, the world's largest producer of rough diamonds by value, will build a seventh ship at a cost of $468m (R6.6bn) to suck diamonds from the seabed off Namibia. The cost will be shared between De Beers and the Namibian government in their equally held Debmarine Namibia joint venture. The ship is expected to deliver 500,000 carats of diamonds a year after it comes into production in 2022. "Some of the highest-quality diamonds in the world are found at sea off the Namibian coast," De Beers CEO Bruce Cleaver said. "With this investment we will be able to optimise new technology to find and recover diamonds more efficiently and meet growing consumer demand across the globe." According to Debmarine Namibia's website, Namibia's diamond output, 95% of which is gem quality, achieves the world's second-highest value per carat. Debmarine Namibia's annual production capacity is about 1.4-million carats a year, making up more than twothirds of the country's annual diamond production. In 2018, Debmarine Namibia generated 1.436-million carats, up from the previous year's 1.38-million carats. The investment comes shortly after De Beers launched its Lightbox business to make and sell laboratory-grown diamonds at set prices, taking on the synthetic diamond business with low-cost production. Anglo American owns 85% of De Beers and the Botswana government the remaining 15%. Anglo CEO Mark Cutifani described the new ship as a highly attractive investment, with a three-year payback, an internal rate of return topping 25% and an earnings before interest, tax, depreciation and amortisation (ebitda) margin above 60%. "We will continue allocating appropriate levels of capital in a disciplined manner across Anglo American's wider organic pipeline of near- and medium-term growth opportunities," Cutifani said. De Beers, and by extension diamonds, is one of the key divisions in Anglo. De Bee

Uganda keen to do business with SA

Ugandan business people are keen to conduct business with their South African counterparts. The Department of Trade and Industry (dti) is currently leading a business delegation on an Outward Trade and Investment Mission (OTIM) to the East African country. Head of Regional Membership of the Uganda National Chamber of Commerce and Industry, Steven Kabagambe, said the chamber has been working with the dti to create awareness about the OTIM.

Jumia: The challenges of online shopping in Africa

Nanda Aye's customer calls him three times in the half-hour it takes him to creep a few blocks through a notorious Lagos go-slow toward the Lekki Bridge tollway. "I'll be there this morning, Madame," he says, his three-wheel truck idling. "This morning. Yes, this morning." Asked for a specific arrival time, or at least a window of a few hours, Aye demurs.

Shady people can 'vouch' for thorough crime-buster Hermione Cronje

Hermione Cronje, who was appointed director of the investigating directorate established in the office of the National Director of Public Prosecutions (NDPP), returns to the organisation she had a hand in setting up. The directorate Cronje will head will be dealing with serious, complex and high-level corruption, including allegations emerging from the Zondo, Nugent and Mpati commissions of inquiry. Cronje's appointment was made by President Cyril Ramaphosa last week.  Cronje came to the National Prosecuting Authority (NPA) in 1998 when the first NDPP, Bulelani Ngcuka, was appointed.

Researchers see manganese helping fuel cells down cost curve

JOHANNESBURG (miningweekly.com) - A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate electricity. Science Daily quotes Professor David Antonelli , the physical chemistry chairperson at Lancaster University, as saying the use of manganese-based sieves may result in hydrogen fuel cell systems costing many times less than lithium-ion batteries used in electric vehicles.

SNB Is Prepared to Intervene in Currency Markets, Official Says

(Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes. The Swiss National Bank stands ready to intervene in currency markets if necessary, according to one of its policy makers. "We've always said that we have this approach that we have on the one hand negative interest rates still in place, but we've always said that whenever we feel it's necessary we would be intervening, and that still counts," Thomas Moser said while attending a conference in Copenhagen on Monday. "So if we feel that there is a need for more interventions we will certainly do it." For the past four years, the SNB used a deposit rate of minus 0.75% plus a pledge to use interventions to keep the haven franc in check. The franc touched its highest in six weeks on Monday amid investor risk aversion.

The Healthy Business Show: Anton Ossip, CEO of Discovery Insure

South Africa is looking to small- and medium-sized business owners to grow the nation's economy. But do they have the support they need to succeed? The Healthy Business Show, our new collaborative podcast series with Discovery Business Insurance, presents inspiring content to empower entrepreneurs with insights that will help them start a business, grow and achieve success. Anton Ossip, CEO of Discovery Insure, unpacks this new podcast series for Gareth and the team.

GLOBAL MARKETS-Stock markets slide as worries about Huawei fallout mount

* Huawei, U.S.-China trade dispute rattle markets * European chipmakers fall sharply on supply chain concerns * Australian, Indian shares rally on apparent election results * Oil bounce proves brief * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh (Adds details, updates prices) By Tommy Wilkes LONDON, May 20 (Reuters) - Stock markets weakened on Monday as concerns mounted about an escalating fallout from a U.S. crackdown on China's Huawei Technologies. Investors already on edge about an escalating U.S.-China trade dispute were further rattled after Beijing accused Washington of harbouring "extravagant expectations" for a trade deal, underlining the gulf between the two sides.

Major banks analysis Download the April 2019 edition of the Major banks analysis: Striving for growth in a challenging envir

Overview April 2019 edition - The SA Major Banks Analysis identifies trends shaping the financial services landscape through an analyses of the combined local currency results of the major banks (Absa, FirstRand, Nedbank and Standard Bank). A key theme that we continue to observe in the major banks results is the significant contribution from the banks' operations in the wider African continent. The major banks' diversification strategies across franchises, regions and portfolios has been central to their ability to achieve growth amid difficult trading conditions over 2018.

S.Africa's Amplats fires over 600 underground workers at its Mototolo mine

JOHANNESBURG, May 20 ( ) - Anglo American (LON:AAL) Platinum (Amplats) AMSJ.J said on Monday it fired about half of the underground workers at its Mototolo mine following an illegal strike. Workers belonging to the General Industrial Workers Union of South Africa (GIWUSA) downed tools on May 12 following a dispute over the employees' medical scheme, despite an interim court interdict against any strike action, Amplats said. The precious metals producer said it dismissed 643 employees at Mototolo, which produced 57,700 ounces of platinum group metals in the first quarter of 2019, after its appeal to end the strike was ignored. A union official at GIWUSA, which is the only recognised union at the mine, said they would approach the labour court over the dismissals. Amplats said the sacked employees had until May 21 to appeal the decision. The firm said the impact on production had so far been minimal. "Anglo American Platinum is exploring options to ensure that Mototolo Mine recommences full production as soon as practically possible," it said in a statement. Amplats acquired Glencore's GLEN.L 39% stake in the mechanised platinum mine on the eastern limb of South Africa's platinum belt in 2.

Shady people can 'vouch' for thorough crime-buster Hermione Cronje

Veteran prosecutor Cronje back to the organisation she helped set up Hermione Cronje, who was appointed director of the investigating directorate established in the office of the National Director of Public Prosecutions (NDPP), returns to the organisation she had a hand in setting up. The directorate Cronje will head will be dealing with serious, complex and high-level corruption, including allegations emerging from the Zondo, Nugent and Mpati commissions of inquiry. Cronje's appointment was made by President Cyril Ramaphosa last week.  Cronje came to the National Prosecuting Authority (NPA) in 1998 when the first NDPP, Bulelani Ngcuka, was appointed.

State spooks undermined Sars to favour tobacco smugglers, claims former top spy

Arthur Fraser claims the taxman was the target of coordinated intelligence operations aimed at derailing investigations into tobacco smuggling. 11 mins ago The SA Revenue Service (Sars) was the target of coordinated intelligence operations aimed at derailing its investigation into tobacco smuggling and the local tobacco industry, the country's former top spy Arthur Fraser has claimed. Fraser's astounding allegation in response to Dr Sydney Mufamadi's High-Level Review Panel's Report on the SSA is contained in paragraph 55 of his reply to Mufamadi, saying it was one of the issues Mufamadi should have reviewed.

CEE MARKETS-Forint bucks rebound, central bank not seen tightening policy

(Corrects para 3 to say the zloty pierced the 4.3 (not the 3.1) line) * Increased global risk appetite helps CEE currencies * Forint stays near 9-month low ahead of May 28 cbank meeting * Stocks mixed, Erste fall drags down Prague's index By Sandor Peto BUDAPEST, May 20 (Reuters) - The forint was weak on Monday, bucking a rebound in other Central European currencies, on expectations the Hungarian central bank (NBH) will keep its benchmark interest rate at record lows next week. It traded near Friday's nine-month lows versus the euro, at 326.35 at 0848 GMT, even though easing global trade worries and election wins by incumbents in Australia and India helped stocks and currencies firm in emerging markets. The Polish zloty gained 0.1% against the euro, piercing the 4.3 line to trade at its 200-day moving average.

GLOBAL MARKETS-Stock markets slide as worries about Huawei fallout mount

* Huawei, U.S.-China trade dispute rattle markets * European chipmakers fall sharply on supply chain concerns * Australian, Indian shares rally on apparent election results * Oil bounce proves brief * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh (Adds details, updates prices) By Tommy Wilkes LONDON, May 20 (Reuters) - Stock markets weakened on Monday as concerns mounted about an escalating fallout from a U.S. crackdown on China's Huawei Technologies. Investors already on edge about an escalating U.S.-China trade dispute were further rattled after Beijing accused Washington of harbouring "extravagant expectations" for a trade deal, underlining the gulf between the two sides. shares had managed to reverse some of last week's losses on Monday after Washington said it would lift tariffs in North America, and as investors cheered apparent wins by Conservative incumbent parties in elections in Australia and India. But the mood did not carry over to Europe, where weak corporate earnings added to the gloom. The pan-European Euro STOXX 600 .STOXX extended earlier losses and was down 1.06% by 1100 GMT - the index, down 3.5% in May, is on track for its first monthly loss in 2019. The German DAX .GDAXI slid 1.38%, while France's CAC 40 .FCHI weakened 1.39%. U.S.

Amplats Dismisses 643 Workers at Mototolo Mine Following Unprotected Strike

By Jan Cronje, Fin24 Anglo American Platinum has dismissed 643 employees -  half of its underground workforce - at Mototolo Mine near Burgersfort in Limpopo following an unprotected strike. The mining group, in an update to shareholders on Monday, said the General Industrial Workers Union of South Africa (Giwusa) declared a strike on May 9 over medical benefits. The following day, Amplats said it was granted a court interdict against a strike.  Amplats said requests to return to work were ignored and the group was "left with no option but to dismiss about 50% of Mototolo Mine's underground workforce".

BUSINESS MAVERICK: Best property investment is far from home

This year, listed real estate abroad has known few boundaries. Not only did it kick dust in the eyes of SA property players, but its returns were also in excess of all international equity sectors and the bond markets. Indeed, a top portfolio performer.

BRIEF-Investec Property Fund Announces Sale Of 45 Mln Investec Australia Property Fund Units

May 20 ( ) - Investec Property Fund Ltd IPFJ.J : * JSE: IPF - SALE OF 45 MILLION INVESTEC AUSTRALIA PROPERTY FUND UNITS * INVESTEC PROPERTY FUND LTD - PROCEEDS OF SALE WILL BE UTILISED TO FURTHER DELEVER FUND'S BALANCE SHEET AND/OR BE DEPLOYED INTO PAN-EUROPEAN STRATEGY* INVESTEC PROPERTY FUND - OFFER WAS OVERSUBSCRIBED SUCH THAT FUND DISPOSED OF 45 MILLION IAPF UNITS TO INSTITUTIONAL INVESTORS, AT A$1.32 PER UNIT* INVESTEC PROPERTY FUND - DIVIDEND GUIDANCE FOR FINANCIAL YEAR ENDING 31 MARCH 2020, REMAINS UNCHANGED* INVESTEC PROPERTY FUND LTD - FUND WILL RECEIVE GROSS CASH PROCEEDS OF ABOUT A$59.4 MILLION IN RESPECT OF SALE, ON OR ABOUT 27 MAY 2.

All the 2019 SABRE Awards Africa winners

The 2019 SABRE Awards Africa winners were handed out following on the annual African Public Relations Association (AFPRA) conference held in Kigali, Rwanda, last week. The SABRE Awards, which aims to recognise superior achievement in branding, reputation and engagement, has a 25-year heritage, with separate competitions in Africa, North America, EMEA, the Asia-Pacific, Latin America and South Asia. " data-lazyauto="true"> Pictured are Paul Holmes of The Holmes Report and Regine le Roux, managing director of South Africa's Reputation Matters.

EXXARO RESOURCES LIMITED - EXX - Share Transactions

Wrap Text EXX - Share Transactions EXXARO RESOURCES LIMITED Incorporated in the Republic of South Africa (Registration Number: 2000/011076/06) JSE share code: EXX ISIN code: ZAE000084992 ADR code: EXXAY (Exxaro) SHARE TRANSACTIONS In terms of paragraphs 3.63 to 3.65 of the JSE Limited Listings Requirements, notice is hereby given that a director of Exxaro and a major subsidiary of Exxaro received and accepted conditional awards granted in terms of the Long-Term Incentive Plan scheme (LTIP scheme), after having received clearance to do so in terms of paragraph 3.66 of the JSE Limited Listings Requirements. LTIP performance period: The vesting of the LTIP awards is conditional upon the achievement of group performance targets of a period of 3 years (01/04/2019 to 01/04/2022) Class of share: Ordinary Nature of interest: Direct Beneficial Offer price: R0.00 Date of transaction: 16 May 2019 Vesting period: 3 years Name: PA Koppeschaar Position: Director: Exxaro Resources Limited; Exxaro International Trading AG LTIP award 49 632 Deemed value based on VWAP of R8,178,360.96 R164.78 per share on 01 April 2019 SE VAN LOGGERENBERG GROUP COMPANY SECRETARY 20 May 2019 Sponsor Absa Bank Limited, acting through its corporate and investment bank division Date: 20/05/2019 08:51:00 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.

INVESTEC PROPERTY FUND LIMITED - Sale of 45 Million Investec Australia Property Fund units

Wrap Text Sale of 45 Million Investec Australia Property Fund units INVESTEC PROPERTY FUND LIMITED Approved as a REIT by the JSE (Incorporated in the Republic of South Africa) (Registration Number 2008/011366/06) Share code: IPF ISIN: ZAE000180915 ("Investec Property Fund" or the "Fund") SALE OF 45 MILLION INVESTEC AUSTRALIA PROPERTY FUND UNITS 1. Introduction Shareholders are referred to the ASX Listing Proposal and Offer, and the Proposed Sale announcements, published on SENS on 3 May 2019, by Investec Australia Property Fund and the Fund, respectively (collectively, the "Announcements"). The definitions set out in the Announcements apply mutatis mutandis to this announcement. The Fund is pleased to announce that the Offer, which closed on 17 May 2019, was oversubscribed, such that the Fund disposed of 45 million IAPF units (the "IAPF units") to institutional investors, at a price of A$1.32 per unit (the "Sale").

McKinsey 'lost the plot' in business case for Transnet locomotives, inquiry hears

Global consulting firm McKinsey & Co did not fully understand its mandate when it was brought in to strengthen the business case for Transnet to acquire 1064 locomotives, a former Transnet official has said.  Francis Callard, a former electrical engineer at the state-run freight rail operator, on Monday continued his testimony before the judicial commission of inquiry into state capture. The commission, chaired by Deputy Chief Justice Raymond Zondo, is investigating allegations of corruption and mismanagement at several state entities.  Callard was testifying about the business case for the acquisition of 1064 new locomotives, which was drawn up in 2013 for approval by Transnet's board. The contract has been mired in controversy over cost inflation and allegations of corruption after it ballooned from R38.16bn to R54.5bn .  Callard told the commission that he understood that McKinsey had been brought in to further develop the business case for the 1064 locomotives. But McKinsey appeared to fixate on minor issues instead of the main focus, which was making a case for replacing locomotives reaching the end of their economic lifespans and doubling general freight volumes within a seven-year period.

Canal Walk launches new brand campaign #CWSquad featuring local social media icons

Since their rise in popularity in the mid-20th century, shopping centres in this day and age tend to reflect the communities they serve; delivering on daily wants and needs, as well as acting as central meeting points for young and old.   Understanding the social importance a shopping centre reserves within a community-led Canal Walk Shopping Centre to launch its latest brand campaign, #CWSquad, spearheaded by three homegrown, Cape Town-based social media icons. "Understanding our customer has always been of paramount importance to Canal Walk" explains Camilla Lor, Regional Marketing Executive for Hyprop Investments Limited.

Eskom ‘pushing' SA business toward green buildings

Green buildings are increasingly in demand in the face of concerns around Eskom's ability to supply power. At the recent African Utility Week conference, energy minister Jeff Radebe told delegates that Eskom alone cannot meet our power capacity requirements, they estimate that the capacity extension under the Integrated Resource Plan (IRP) will cost in excess of R1 trillion in the period up to 2030. "Including the new power plants plus the requisite transmission and distribution infrastructure," said the minister.

Rand picks up as global markets await moves in trade talks

The rand was slightly firmer against major currencies on Monday afternoon, as global markets awaited more developments in the US-China trade war. In the past week, events surrounding the trade negotiations have created a risk-off environment in global markets, with emerging-market currencies taking a knock. The ongoing dispute between the two superpowers escalated further after Google suspended some of its business with Chinese telecom giant Huawei.

Three nabbed for business burglary

All three men were arrested and six solar panels to the value of R30 000 and 12 cellphone tower batteries were confiscated THEFT: Three men were arrested in connection with the theft of six solar panels to the value of R30 000 and 12 cellphone tower batteries. Picture: SAPS THREE men have been arrested in connection with a business burglary at a solar panel plant about 50km from Prieska, Northern Cape police said on Saturday. The alarm system was activated at the plant on Friday and the police reacted swiftly, police spokesperson Lieutenant-Colonel Dimakatso Mooi said.

Coca-Cola to retain majority stake in largest bottler in Africa

JOHANNESBURG, May 20 (ANA) - The Coca-Cola Company (NYSE:KO) on Monday announced that it will maintain its majority stake in Coca-Cola Beverages Africa (CCBA) for the foreseeable future, and said it intends to retain a majority stake in the bottler. With the change, Coca-Cola will begin presenting the financial statements of CCBA within its results from continuing operations in the second quarter of 2019, in accordance with U.S. accounting standards. CCBA has been accounted for as a discontinued operation since Coca-Cola became the controlling shareowner in October 2017.

Rand picks up as global markets await moves in trade talks

The continuing dispute between China and the US escalated after Google suspended some US services with telecom giant Huawei The rand was slightly firmer against major currencies on Monday afternoon, as global markets awaited more developments in the US-China trade war. In the past week, events surrounding the trade negotiations have created a risk-off environment in global markets, with emerging-market currencies taking a knock. The ongoing dispute between the two superpowers escalated further after Google suspended some of its business with Chinese telecom giant Huawei. This follows a move by the Trump administration to restrict Huawei's access to US markets last week. Emerging-market currencies firmed a little on Monday afternoon, with the Indian rupee leading the way after exit polls showed incumbent Prime Minister Narendra Modi was on track to win a second term. At 2pm the rand was slightly firmer, gaining 0.31% to R14.3625/$, 0.3% to R16.0315/€ and 0.29% to R18.3004/£. The euro was flat at $1.1162.

Traka Accelerates Expansion Into Wider African Markets?

Leveraging on almost two decades of experience in South Africa, and a presence in a further six African countries, networked key and equipment management solutions company Traka Africa announces an acceleration in their growth strategy. It plans to open new operations or expand more widely in five Southern African countries, as well as into East Africa. Traka is the global leader in its market, having a presence in 40 countries through a combination of its own subsidiaries and local partners.

Amplats fires more than 600 underground workers at Mototolo mine

The precious metals producer says it dismissed 643 employees at Mototolo, which produced 57,700 ounces of platinum group metals in the first quarter of 2019, after its appeal to end the strike was ignored. | JOHANNESBURG - Anglo American Platinum has fired about half of the underground workers at its Mototolo mine following an illegal strike. Workers belonging to the General Industrial Workers' Union of South Africa went on strike earlier this month following a dispute over the employees' medical scheme. This was despite an interim court interdict against any industrial action. The precious metals producer says it dismissed 643 employees at Mototolo, which produced 57,700 ounces of platinum group metals in the first quarter of 2019, after its appeal to end the strike was ignored.

Canal Walk Shopping Centre launches its '#CWSquad' campaign

"Understanding our customer has always been of paramount importance to Canal Walk," says Camilla Lor, regional marketing executive for Hyprop Investments Limited. "Being relevant to our customer within the societal context in which they live, work and play is key to our overall success, and so we turned to influential content creators within our very community to assist in delivering our brand message," Lor adds. [embedded content] The '#CWSquad' is made up of Nadia Jaftha, Aqeelah Harron Ally and Paula Lakay; three women that will, over the next year, aim to showcase the best Canal Walk has to offer across over 400 stores.

Google Suspends Some Business With Huawei After Trump Blacklist

NEW YORK - Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters. "We are complying with the order and reviewing the implications," the Google spokesperson said.

Vedanta's KCM seeking urgent meeting with Zambian Govt. amid seizure plan

- Facebook Twitter Google+ Pinterest WhatsApp Konkola Copper Mines: Nchanga Smelter. VEDANTA would seek an urgent meeting with the Zambian government after it filed notice of plans to seize the Indian firm's copper assets, held in Konkola Copper Mines (KCM). This comes after comments by Zambia's president, Edgar Lungu, on May 17 that the country divorce from the Indian firm's copper assets, and those of Glencore.

S.Africa's Amplats fires over 600 underground workers at its Mototolo mine

JOHANNESBURG (Reuters) - Anglo American Platinum (Amplats) said on Monday it fired about half of the underground workers at its Mototolo mine following an illegal strike. Workers belonging to the General Industrial Workers Union of South Africa (GIWUSA) downed tools on May 12 following a dispute over the employees' medical scheme, despite an interim court interdict against any strike action, Amplats said. The precious metals producer said it dismissed 643 employees at Mototolo, which produced 57,700 ounces of platinum group metals in the first quarter of 2019, after its appeal to end the strike was ignored. A union official at GIWUSA, which is the only recognised union at the mine, said they would approach the labour court over the dismissals.

Coca-Cola ends plan to refranchise Africa bottling unit, keeps majority stake

(Reuters) - Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa (CCBA), and would instead keep its majority stake in the unit for the time being. The U.S. beverage giant had wanted to refranchise the unit as part of its global plan to divest its manufacturing and distribution assets to focus on main beverage business and boost margins. "While we remain committed to the refranchising process, we believe it's in the best interests of all involved for Coca-Cola to continue to hold and operate CCBA," Coca-Cola said in a statement. The company said it has had discussions with a number of potential partners. Coca-Cola HBC and rival Coca-Cola European Partners were seen as potential buyers for the unit.

Buoyed by mining recovery, Barloworld looks to Mongolia for growth

Barloworld's results on Monday reflected some of the biggest trends in the South African economy, with the company reporting a sharp drop in equipment sales to the troubled construction industry, as well as a decline in new-vehicle sales and car rental days, but with the mining industry seemingly lifting its head. The equipment and logistics company reported a 1.6% drop in revenue for the six months ended March 31, to R30.4-billion, compared with the same period in the 2018 financial year. Operating profit declined by 4%, to R1.9-billion.

Connected Consumers Are Connected Travellers, Whether They Travel For Business Or Leisure

It would be a mistake to distinguish a traveller as having separate personal and corporate travel profiles when digitisation has ensured that the travel expectations and decision-making, whether travelling for business or pleasure, are largely one and the same. Digital access has altered all aspects of our work and personal lives. From shopping to social interaction, entertainment, banking and fitness, connectivity drives the way we act, choose and spend, explains Nicole Adonis , FCM Travel Solutions South Africa GM.

SIBANYE GOLD LIMITED - Broad-based black economic empowerment status and availability of the B-BBEE annual compliance report

SGL 201905200041A Broad-based black economic empowerment status and availability of the B-BBEE annual compliance report Sibanye Gold Limited Trading as Sibanye-Stillwater Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN - ZAE000173951 Issuer code: SGL (‘Sibanye-Stillwater' or ‘the Group' or ‘the Company') Broad-based black economic empowerment status and availability of the B-BBEE annual compliance report Johannesburg, 20 May 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) advises that the Company's Broad-based black economic empowerment (‘B-BBEE')annual compliance report prepared pursuant to Section 13(G)(2) of the Broad-Based Black Economic Empowerment Act No. 53 of 2003 is available on the Company's website at https://www.sibanyestillwater.com/investors/documents-circulars. Contacts: Email: ir@sibanyestillwater.com James Wellsted Head of Investor Relations +27 (0) 83 453 4014 Sponsor: J.P.

ANGLO AMERICAN PLATINUM LIMITED - Unprotected Industrial Action at Anglo American Platinum's Mototolo Mine

Wrap Text Unprotected Industrial Action at Anglo American Platinum's Mototolo Mine 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") UNPROTECTED INDUSTRIAL ACTION AT ANGLO AMERICAN PLATINUM'S MOTOTOLO MINE The General Industrial Workers Union of South Africa (GIWUSA) served a strike notice on Anglo American Platinum (AAP) at Mototolo Mine on Thursday 9 May 2019. This followed a dispute declared by GIWUSA at the Commission for Conciliation, Mediation and Arbitration (CCMA), in which the union alleged that the changes AAP made regarding employees' medical scheme, following the purchase of the mine from Glencore in November 2018, represented a unilateral change in employees' conditions of service. This is despite AAP having offered a medical scheme (Platinum Health) with similar benefits. On Friday 10 May, Anglo American Platinum was granted an interim court interdict against any strike action by GIWUSA at Mototolo Mine.

Securing power supply for businesses

Electricity tariffs have recently been increased by around 14% and the National Energy Regulator of South Africa (Nersa) has approved further above-inflation hikes for Eskom for the next three financial years. This means that operating costs for all businesses will escalate, while load shedding remains an ongoing risk. Charl du Plessis, Head of Sales at Energy Partners Solar - a division of Energy Partners and part of the PSG Group of companies - says that the security of electrical supply will increasingly place pressure on businesses across South Africa's market sectors. Looking to mitigate the impact of the tariff increases over the coming years, du Plessis says, "First, we would recommend installing a grid-tied solar photovoltaic (PV) system. The payback period for a PV system, which can be installed within three to six months, could be as short as three years, if the Section 12B accelerated tax write-off for renewable energy assets is also used.

Coca-Cola ends plan to refranchise Africa bottling unit, keeps majority stake

Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa (CCBA), and would instead keep its majority stake in the unit for the time being. The US beverage giant had wanted to refranchise the unit as part of its global plan to divest its manufacturing and distribution assets to focus on main beverage business and boost margins. "While we remain committed to the refranchising process, we believe it's in the best interests of all involved for Coca-Cola to continue to hold and operate CCBA," Coca-Cola said in a statement.

STANDARD BANK GROUP LIMITED - Dealings in securities

Wrap Text Dealings in securities STANDARD BANK GROUP LIMITED Incorporated in the Republic of South Africa Registration number 1969/017128/06 JSE and A2X Share code: SBK Namibian Share Code: SNB ISIN: ZAE000109815 ("Standard Bank Group") DIRECTOR'S DEALINGS IN SECURITIES In compliance with sections 3.63 to 3.74 of the Listings Requirements of the JSE Limited, the following information is disclosed: Director: Mr. J H Maree Name of company: Standard Bank Group Limited 1. Date of Transaction: 2019-05-14 Nature of Transaction: Off market exercise of 250 000 Participation Rights awarded in the Standard Bank Equity Growth Scheme on 2010-03-05: Award Price = R111.94 Exercise Price = R203.07 Gain = R91.13 per right.

Amplats fires over 600 underground workers at its Mototolo mine

The workers were fired after illegally striking over the employees' medical scheme. Anglo American Platinum (Amplats) said on Monday it fired about half of the underground workers at its Mototolo mine following an illegal strike. Workers belonging to the General Industrial Workers Union of South The precious metals producer said it dismissed 643 employees at Mototolo, which produced 57 700 ounces of platinum group metals in the first quarter of 2019, after its appeal to end the strike was ignored. A union official at Giwusa, which is the only recognised union at the mine, said they would approach the labour court over the dismissals. Amplats said the sacked employees had until May 21 to appeal the decision. The firm said the impact on production had so far been minimal. "Anglo American Platinum is exploring options to ensure that Mototolo Mine recommences full production as soon as practically possible," it said in a statement. Amplats acquired Glencore's 39% stake in the mechanised platinum mine on the eastern limb of South.

SIBANYE GOLD LIMITED - No increase statement of the proposed Lonmin acquisition

Wrap Text No increase statement of the proposed Lonmin acquisition Sibanye Gold Limited Trading as Sibanye-Stillwater Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN - ZAE000173951 Issuer code: SGL ("Sibanye-Stillwater" or "the Group" or "the Company") NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Response to press speculation and no increase statement of the proposed Lonmin acquisition Johannesburg, 20 May 2019. On 25 April 2019, Lonmin and Sibanye-Stillwater announced that they had reached agreement on the terms of an increased recommended all-share offer to be made by Sibanye-Stillwater for the entire issued and to be issued ordinary share capital of Lonmin (the "Increased Offer"). Under the terms of the Increased Offer, Lonmin Shareholders will be entitled to receive for each Lonmin Share one New Sibanye-Stillwater Share. Earlier today Sibanye-Stillwater and Lonmin jointly announced that the Competition Appeal Court of South Africa (the "CACSA") has dismissed the appeal by the Association of Mineworkers and Construction Union ("AMCU") with costs, and has therefore upheld the South African Competition Tribunal's decision of 21 November 2018, approving the Offer subject to certain specific conditions. Sibanye-Stillwater notes the press speculation today regarding the terms of its Increased Offer, and, as a result and in accordance with the UK Takeover Code, confirms that the Increased Offer is final and will not be increased. The Transaction remains subject to the satisfaction or (where applicable) waiver of the conditions set out in the announcement of the Transaction by Lonmin and Sibanye- Stillwater on 14 December 2017 and in the scheme circular published by Lonmin on 25 April 2019 (the "Lonmin Scheme Circular").

Coca-Cola ends plan to refranchise Africa bottling unit, keeps majority stake

May 20 (Reuters) - Coca-Cola Co said on Monday it had dropped plans to refranchise its Africa bottling business, Coca-Cola Beverages Africa (CCBA), and would instead keep its majority stake in the unit for the time being. The U.S. beverage giant had wanted to refranchise the unit as part of its global plan to divest its manufacturing and distribution assets to focus on main beverage business and boost margins.

Why Diamond Bank settled for a business combination deal with Access Bank

Recent details have emerged on why the defunct Diamond Bank surrendered itself for a business combination deal with Access Bank Plc.  In December 2018, Access Bank and Diamond Bank signed an agreement to merge, with Access Bank being the principal bank. According to a report obtained by THISDAY yesterday, between December 2014 and June 2018, the immediate past management of Diamond Bank under the leadership of Mr Uzoma Dozie as Chief Executive Officer, inherited a distressed oil and gas portfolio of $1.8 billion (N302.6 billion). Of this amount, the sum under Watch list and non-performing loans (NPLs) stood at $406 million (N68.9 billion) and $73 million (or N12.3 billion), respectively.

Boxing promoters send SOS to sponsors

Boxing hardly enjoys the recognition - or a fraction of it - that other sporting codes get from the corporate world. Why is that? This question was asked by promoter Thembalethu Ntuthu on Friday night after his Rumble Africa Promotions was voted 2018 Boxing SA's Promoter of the Year. "BSA and the government must look into this.

A BOUNTY OF SHIRAZ & VENISON AT NEDERBURG

The Nederburg wine farm near Paarl will be serving up a heart-warming winter feast of Shiraz and game meat at The Red Table restaurant.  This will take place during Shiraz SA's Seven Days of Shiraz & Venison in the Cape Winelands, from 10 to 16 June.   Offered individually, or as a set menu at R395 per person, guests can sit back and relax in the warm and inviting atmosphere of the historic manor house, where The Red Table restaurant is situated, while savouring a starter of springbok gravlax served on a blini with Shiraz-infused blueberry compote and crème fraîche (R115 individually); a main course of springbok loin with sweet potato gnocchi, roasted root vegetables and Shiraz jus (R225 individually); and/or a dessert of red wine and dark chocolate cake with Shiraz-poached pear (R95 individually).  The main course is served with a complimentary glass of Nederburg's velvety soft Manor House Shiraz 2016 that abounds with rich dark berry and cherry flavours and spicy notes of cinnamon and clove.  Visit the Nederburg Visitors' Centre, a short walk away from the manor house, for a complimentary tasting of Nederburg's The Winemasters Shiraz 2017 and Manor House Shiraz 2016, with a delicious serving of cubes of dark chocolate marquise with Turkish delight rubies.                                                          The Red Table restaurant's special offer during Seven Days of Shiraz & Venison is only available from 11 to 16 June (Tuesday to Sunday), while the Visitors' Centre tasting is on offer for the entire seven days, from 10 to 16 June (Monday to Sunday).  With Father's Day being celebrated on Sunday, 16 June, make a reservation at The Red Table as soon as possible to avoid disappointment.  Nederburg contact details : Sonstraal Road, Dal Josafat, Paarl Tel: +27 21 862 3104 E-mail:  nedwines@distell.co.za   The Red Table restaurant contact details: Tel: +27 21 877 5155 E-mail: theredtable@dishfood.co.za  

WATCH: Barloworld lifts dividend as equipment sales boost profit

spoke to Barloworld CEO Dominic Sewela about the group's interim financial results Barloworld has increased its interim dividend 13.8% after earnings grew thanks to better equipment sales in Southern Africa. The group has also announced that it is in acquisition talks with Wagner Asia Group, a Mongolian-based equipment dealer. Business Day TV sat down with Barloworld's CEO, Dominic Sewela, to discuss the group's interim financial results and to take a look at the detail of the potential acquisition..

PIONEER FOOD GROUP LIMITED - Unaudited Condensed Consolidated Interim Financial Statements For The Six Months Ended 31 March

Wrap Text Unaudited Condensed Consolidated Interim Financial Statements For The Six Months Ended 31 March 2019 Pioneer Food Group Limited Incorporated in the Republic of South Africa Registration number: 1996/017676/06 Tax Registration number: 9834/695/71/1 Share code: PFG ISIN code: ZAE000118279 ("Pioneer Foods" or "the Group" or "the Company") UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 31 MARCH 2019 SALIENT FEATURES Revenue +12% R11 039 million Adjusted operating profit (before items of a capital nature)* -23% R729 million Earnings -18% R509 million Earnings per share -18% 272 cents Diluted earnings per share -14% 272 cents Headline earnings ("HE") -14% R509 million Headline earnings per share -14% 272 cents Diluted headline earnings per share -9% 272 cents Adjusted headline earnings* -15% R506 million Adjusted headline earnings

KAP INDUSTRIAL HOLDINGS LIMITED - Interest payment notification - KAP008 KAP009

Wrap Text Interest payment notification - KAP008 KAP009 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 payments: Bond code: KAP009 ISIN: ZAG000144106 Coupon: 9.100% Interest period: 25 February 2019 to 23 May 2019 Interest amount due: R10 969 863.01 Payment date: 24 May 2019 Date convention: Following business day Bond code: KAP008 ISIN: ZAG000140971 Coupon: 9.150% Interest period: 28 February 2019 to 27 May 2019 Interest amount due: R8 344 298.63 Payment date: 28 May 2019 Date convention: Following business day 20 May 2019 Debt Sponsor: Nedbank Corporate and Investment Bank, a division of Nedbank Limited Date: 20/05/2019 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.

ASPEN PHARMACARE HOLDINGS LIMITED - Aspens Divestment of a Portfolio of prescription and OTC products in Australia to Mylan

Wrap Text Aspen's Divestment of a Portfolio of prescription and OTC products in Australia to Mylan ASPEN PHARMACARE HOLDINGS LIMITED (Incorporated in the Republic of South Africa) ("Aspen Holdings") Registration number: 1985/0002935/06 Share code: APN ISIN: ZAE000066692 and its subsidiaries (collectively "Aspen" or "the Group") ASPEN'S DIVESTMENT OF A PORTFOLIO OF PRESCRIPTION AND OTC PRODUCTS IN AUSTRALIA TO MYLAN Shareholders are referred to Aspen's announcement of 13 December 2018 wherein it was confirmed that its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated ("AGI"), and its Australian subsidiaries ("Aspen Australia"), had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan N.V. (collectively "Mylan"), in respect of a portfolio of prescription and over-the- counter ("OTC") products commercialised by Aspen in, primarily, Australia and New Zealand, with effect from 1 December 2018. It was also announced that this distribution arrangement included an option for Mylan to acquire this portfolio from AGI and Aspen Australia. Aspen is pleased to confirm that Mylan has exercised this option and will acquire this portfolio of products from AGI and Aspen Australia for a maximum consideration of AUD 188 million, of which AUD 93 million is payable by 29 May 2019, AUD 30 million is payable in January 2020 and up to AUD 65 million is payable in September 2020.

South African EDGE ad brings icons together

So, imagine this.  Local and international stars of South Africa's most memorable beer and cider ads walk into a bar. Sounds like the start of a joke. Instead, it's a recipe for magic in a witty ad for Distell's new beverage, EDGE.

BARLOWORLD LIMITED - Renewal of cautionary announcement

Wrap Text Renewal of cautionary announcement Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (Bond issuer code: BIBAW) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) ("Barloworld" or the "Company") Renewal of cautionary announcement Shareholders are referred to the cautionary announcement published on 11 April 2019. In this regard, shareholders are advised that Barloworld has, in pursuit of its growth strategy and to utilise its strong balance sheet, entered into negotiations and commenced a due diligence process to acquire Wagner Asia Group Limited, a Mongolian based equipment dealer. Should the negotiations be successfully concluded they may have a material effect on the price of Barloworld's securities. Accordingly, Barloworld shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made. Sandton 20 May 2019 Equity Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited Debt Sponsor: Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 20/05/2019 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').

Big business goes green as Radebe admits Eskom can't meet capacity requirements

Green buildings are increasingly in demand in the face of concerns around Eskom's ability to sustainably supply power. At the recent African Utility Week conference, energy minister Jeff Radebe told delegates that "Eskom alone cannot meet our power capacity requirements, because we estimate that the capacity extension under the Integrated Resource Plan (IRP) will cost in excess of R1 trillion in the period up to 2030, including the new power plants plus the requisite transmission and distribution infrastructure". Property company Redefine recently noted that installing renewable energy interventions is an area with scope for growth, notably to alleviate some of the pressure caused by Eskom's blackouts and tariff increases.

Business Maverick: The Trade war has sunk emerging markets. There's more to come.

Stocks were on course for their worst month since October, while currencies suffered their biggest weekly loss in a year, erasing gains for the year. Brazil's real led the drop as protests added to political tensions and growth forecasts declined, followed by the rand in South Africa, whose pledge to keep Eskom Holdings. afloat is weighing on the government's debt..

The trade war has sunk emerging markets

And there's more to come. Another week, another leg of the emerging-market rout. Stocks were on course for their worst month since October, while currencies suffered their biggest weekly loss in a year, erasing gains for the year. Brazil's real led the drop as protests added to political tensions and growth forecasts declined, followed by the rand in South Africa, whose pledge to keep Eskom afloat is weighing on the government's debt.

BARLOWORLD LIMITED - Renewal of cautionary announcement

BAW BAWP 201905200008A Renewal of cautionary announcement Barloworld Limited (Incorporated in the Republic of South Africa) (Registration number 1918/000095/06) (Income Tax Registration number 9000/051/71/5) (Share code: BAW) (JSE ISIN: ZAE000026639) (Share code: BAWP) (Bond issuer code: BIBAW) (JSE ISIN: ZAE000026647) (Namibian Stock Exchange share code: BWL) (‘Barloworld' or the ‘Company') Renewal of cautionary announcement Shareholders are referred to the cautionary announcement published on 11 April 2019. In this regard, shareholders are advised that Barloworld has, in pursuit of its growth strategy and to utilise its strong balance sheet, entered into negotiations and commenced a due diligence process to acquire Wagner Asia Group Limited, a Mongolian based equipment dealer. Should the negotiations be successfully concluded they may have a material effect on the price of Barloworld's securities. Accordingly, Barloworld shareholders are advised to continue to exercise caution when dealing in the Company's securities until a further announcement is made. Sandton 20 May 2019 Equity Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited Debt Sponsor: Absa Corporate and Investment Bank, a division of Absa Bank Limited Date: 20/05/2019 08:00:00 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 heads up underground WiFi

JOHANNESBURG - Mining giant Anglo American believes the introduction of underground Wi-Fi will change the mining industry. The company is rolling out  Wi-Fi and smartphones to improve productivity, working conditions, and safety. This will allow miners to communicate more easily, allowing problems to be resolved faster.

One of world's best money managers just loves Naspers' Tencent

Some good news for South African investors from Sweden and, in particular, that country's top money manager, 41 year old Lisa Synning . Bloomberg published a piece on the outperforming Ms Synning over the weekend, highlighting how her portfolio last year "trounced" 99% of the world's other emerging market funds, and beats 95% of them over the last five years. Her secret? Betting heavily on Hong Kong-based Tencent Holdings and its domestic competitor Alibaba.

Acquisitions boost Richemont's sales

Yoox Net-a-Porter and Watchfinder & Co. lifted the luxury brands group's full-year sales by more than a quarter. Richemont's full-year results have been given healthy fillip by last year's acquisition of Watchfinder & Co.

How We Use WhatsApp To Run and Grow Our Business

As the co-founder of Vuuqa , an online marketplace that sells and promotes African products, I find myself relying on technology for the day-to-day running of my business. At Vuuqa, we have found that the best tool for us to be accessible and to communicate with our customers and suppliers is WhatsApp . One of the most important things in any type of business, but more so in an online business, is to be accessible. This applies not only to your customers but also the suppliers that are selling on the platform.

BUSINESS MAVERICK: The rand is going digital - and the Reserve Bank is open for suggestions

Central bankers have always been protective of the currencies they keep. Stability is a top priority, which has made them rather cautious about solutions that threaten that position. Yet, lately, they've thrown that caution to the wind as more regulators actively start experimenting with the idea of cryptocurrencies and the underlying blockchain technology.

Google suspends some business with Huawei after Trump blacklist

Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters. We are complying with the order and reviewing the implications," the Google spokesperson said.

One critical in Pretoria plane crash

… At 11H53 Sunday morning, Netcare 911 responded to reports of an aircraft crash at a private airfield off the R515 in Rayton Pretoria East. Reports from the scene indicate that a light aircraft with two adult males one 52-years-old and the other 47-year-old, an instructor and student came down after an apparent engine failure and caught alight. Paramedics assessed the scene and found that the 47-year-old Instructor had sustained critical injuries in the crash and required Advanced Life Support intervention to stabilise him.

Dr Dennis George Responds to his Dismissal as Fedusa General Secretary

JOHANNESBURG   Dr Dennis George has responded to his dismissal as the Fedusa General Secretary.  George said in a statement "On 22 February 2019 I stated for the record that Fedusa currently does not have an investment company through which it transacts for empowerment investments. I said then that Difeme Investments was used as a nominee to warehouse AYO shares until such time as Fedusa andor its affiliates set up companies to take up the AYO shares. Unlike other unions with investment companies Fedusa was considering how best to generate additional revenue streams.

Alteration of locomotive business case 'a deliberate misrepresentation', Zondo hears

Johannesburg - The Zondo commission has heard that a contract for Transnet to secure over a 1000 locomotives from a Chinese firm ballooned to cost close to R50 billion.  Francis Callard, a former Transnet engineer, continued with his testimony at the Zondo commission on Monday.  Callard had explained last week that he had been tasked with putting together a business case for Transnet to acquire locomotives.  He drew up the business case and keeping in line with the needs, specifications and the urgency recommended that Mitsui & Co, a Japanese company, be selected.  He said his recommendations for Mitsui & Co was that the company already supplied Transnet and would be able to provide the locomotives with specific requirements with urgency.  Callard said he submitted his business case in October 2013.  He said when he eventually received the business case document back in early 2014 when he was asked to add slides by former supply manager Lindiwe Mdletshe, he noticed that the memorandum had been changed and would favour the confinement to China South Rail (CSR), a Chinese based company.  Callard said he was taken aback by the changes which excluded a number of important specifications which motivated for the confinement to Mitsui & Co.  He said he could not say with certainty who had made changes to the business case, but he suspected former Transnet CFO, and head of group procurement at the time, Garry Pita had made the amendments.  On Monday, he explained that there were various omissions from the business case which he believes allowed for the ballooning of the costs of the deal. The original case had placed at R38.16 billion, and this had also taken into account the foreign exchange price escalation.  The business case that was presented to the board to approve had been made to appear as if the foreign exchange escalation had not been considered which was irresponsible.  Callard explained that multi-international consultancy firm McKinsey had erred in how it handle

Food justice is a 'pipe dream'

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. The lack of access to healthy food is both a cause and a symptom of the structural inequalities that exist in South Africa and slow progress in introducing stricter regulations for the food industry, Healthy Living Alliance's Lawrence Mbalati writes. In a country like South Africa — with the triple challenges of unemployment, poverty and inequality — food justice is only the beginning of a long conversation for addressing socio-economic rights.

Google cuts business ties with Huawei

If you own a Huawei smartphone you are going to feel the impact of the United States of America (USA) President Donald Trump's  politics. He signed an executive order effectively blacklisting USA companies and state departments from doing business with Huawei. On Sunday Google announced the suspension of their business relationship with the Chinese smartphone manufacturer.

PE Business News: Manufacturing Indaba Eastern Cape hosts breakfast presentations

PE : Manufacturing Indaba Eastern Cape hosts breakfast presentations : Promote your business on BuyPE and MyPR. Manufacturing Indaba Eastern Cape hosts breakfast presentations: Manufacturing Indaba will take place over two days, 4th & 5Th October 2019 at the Boardwalk Conference Centre, Hotel & Spa Summerstrand, Port Elizabeth in the Eastern … the manufacturing sector. To … Source: "Port Elizabeth" business - BingNews.

Tharisa keeping the faith with Zimbabwe with progress "slow" but "enabling"

AFTER the euphoria of Robert Mugabe's toppling in late 2017 after 37 years in power, Zimbabwe has returned to earth with a bit of a sobering bump. At the time of writing, the country is plunged in a load-shedding crisis that hurts all, especially the country's mining fraternity - a major part of its economic lifeblood. One of the mining companies quick off the mark in the wake of Mugabe's forced removal by forces sympathetic to Emmerson Mnangagwa, the current president, was Johannesburg-listed Tharisa, led by CEO Phoevos Pouroulis, son of one of South Africa's more famous mining entrepreneur, Loucas Pouroulis.

Big business goes green as Radebe admits Eskom can't meet capacity requirements

Green buildings are increasingly in demand in the face of concerns around Eskom's ability to sustainably supply power. At the recent African Utility Week conference, energy minister Jeff Radebe told delegates that "Eskom alone cannot meet our power capacity requirements, because we estimate that the capacity extension under the Integrated Resource Plan (IRP) will cost in excess of R1 trillion in the period up to 2030, including the new power plants plus the requisite transmission and distribution infrastructure". Property company Redefine recently noted that installing renewable energy interventions is an area with scope for growth, notably to alleviate some of the pressure caused by Eskom's blackouts and tariff increases.

HEALTH-E NEWS OP-ED: Food justice is a pipe dream without tackling industry

A customer pays for maize in a shop in Soweto south west of Johannesburg (Gallo) donald food The lack of access to healthy food is both a cause and a symptom of the structural inequalities that exist in South Africa and slow progress in introducing stricter regulations for the food industry, Healthy Living Alliance's Lawrence Mbalati writes. In a country like South Africa — with the triple challenges of unemployment, poverty and inequality — food justice is only the beginning of a long conversation for addressing socio-economic rights. The historical injustices of people in South Africa remain geographically, socially and economically isolated from the conversation the country is having about healthy food options.

Amplats dismisses workers at Mototolo Mine following unprotected strike

Anglo American Platinum [JSE:AMS] has dismissed half of its underground workforce at Mototolo Mine following an unprotected strike. The mine is located near Burgersfort in Limpopo.  The mining group, in an update to shareholders on Monday, said the General Industrial Workers Union of South Africa (Giwusa) declared a strike on May 9 over medical benefits. The following day, Amplats said it was granted a court interdict against a strike.  Amplats said requests to return to work were ignored and the group was "left with no option but to dismiss about 50% of Mototolo Mine's underground workforce".

Google suspension of business is a blow to Huawei

Holders of current smartphones with Alphabet company's apps will continue to be able to use and download app updates New York — Alphabet's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter said on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist globally. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said. "We are complying with the order and reviewing the implications," the Google spokesperson said. "For users of our services, Google Play and the security protections from Google Play Protect will continue to function on existing Huawei devices," the spokesperson said. The suspension could hobble Huawei's smartphone business outside China as the tech giant will immediately lose access to updates to Google's Android operating system. Future versions of Huawei smartphones that run on Android will also lose access to popular services, including the Google Play Store and Gmail and YouTube apps. "Huawei will only be able to use the public version of Android and will not be able to get access to proprietary apps and services from Google," the source said. The Trump administration added Huawei Technologies to a trade blacklist on Thursday, immediately enacting restrictions that will make it extremely difficult for the company to do business with US counterparts. On Friday, the US commerce department said it is considering scaling back restrictions on Huawei to "prevent the interruption of existing network operations and equipment".

"Business," by Gregory Fraser

Poetry by Gregory Fraser: "The world / is my business, and the world is none of my business.".

GLOBAL MARKETS-European shares hobbled as worries about Huawei...

* European chipmakers fall on reports of halted shipments * Huawei concerns offset ease in trade tensions * Australian, Indian shares rally on apparent election wins * Oil bounces after Saudi energy minister comments * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh By Tommy Wilkes LONDON, May 20 (Reuters) - European stocks slipped on Monday as concerns about an escalating fallout from a U.S. crackdown on China's Huawei Technologies offset a slightly more positive tone on trade. Asian shares managed to reverse some of last week's heavy losses on Monday, after the United States said it would lift tariffs in North America, as investors cheered apparent wins by Conservative incumbent parties in elections in Australia and India. But the mood did not carry over to European markets. The pan-European Euro STOXX 600 .STOXX fell 0.1%, the German DAX .GDAXI slipped 0.17%, while France's CAC 40 .FCHI weakened 0.21%. U.S.

EM stocks rebound, Indian markets cheer exit polls showing Modi win

Indian assets cheering exit polls suggesting a victory for Modi's party in general elections. Emerging market stocks and currencies rose on Monday, with Indian assets cheering exit polls suggesting a victory for the ruling party in general elections, while the intensifying Sino-US trade war kept the pressure on Chinese equities. Rebounding from last week's declines, MSCI's index of emerging market currencies and shares was up 0.09% at 0821 GMT. The Indian rupee jumped 1% to 69.53 per dollar and was on course to post its biggest one-day gain in five months, while stocks in Mumbai surged more than 3%, set for their best intraday gain since the first quarter of 2016. Exit polls showed conservative incumbent Narendra Modi is likely to return to power with an even bigger majority in parliament after a mammoth general election that ended on Sunday. "This ensures policy continuity and required stability. Hence it will attract long-term investors," said Rushabh Maru, currency and commodity analyst with Anand Rathi Shares and Stock Brokers. Samrat Dasgupta, a fund manager at Esquire Capital Investment Advisors warned that while a rally could be expected for the next few days, further upside - even if the outcome matches the polls - will be limited as people will wait to see what policies will be made by the new government as the economy passes through a rough patch. China stocks fell after news that Google has suspended some business with Huawei following Washington's blacklisting of the Chinese telecoms giant last week. The yuan, however, rose against a soft dollar helped by a firmer-than-expected midpoint and the central bank's pledge to keep the currency stable. In Turkey, the lira erased early losses to trade 0.2% higher as the dollar weakened, while stocks were flat. As the country takes measures to help the struggling currency, fresh negativity hit the lira after President Tayyip Erdogan pressed ahead with the purchase of defence systems from Russia, further pressuring Turkey's fragile relati

State spooks undermined Sars to favour tobacco smugglers, claims former top spy

Arthur Fraser claims the taxman was the target of coordinated intelligence operations aimed at derailing investigations into tobacco smuggling. The SA Revenue Service (Sars) was the target of coordinated intelligence operations aimed at derailing its investigation into tobacco smuggling and the local tobacco industry, the country's former top spy Arthur Fraser has claimed. Fraser's astounding allegation in response to Dr Sydney Mufamadi's High-Level Review Panel's Report on the SSA is contained in paragraph 55 of his reply to Mufamadi, saying it was one of the issues Mufamadi should have reviewed. Shortly before Fraser's reply was issued, seemingly tangible proof surfaced that South Africa's security agencies have had, on the face of it, solid evidence from someone at the heart of the matter since 2014 of criminal activity by state intelligence operatives and the tobacco industry - and have done nothing about it. Curiously, since The Citizen's questions to various agencies last week asking why, Fraser's response to Mufamadi's report appeared and former spy boss Gibson Njenje was fired from his position as special adviser to State Security Minister Dipuo Letsatsi-Duba. Somewhere at the SSA, the Directorate for Priority Crime Investigation (Hawks), the Office of the Inspector General for Intelligence (OIGI), and the National Prosecuting Authority (NPA) apparently lie copies of a very special flash drive - and it seems no one wants anything to do with it because of its alleged association with the multibillion-rand tobacco industry. In its refusal to comment, SSA spokesperson Lebohang Mafokosi stated the SSA was "not in a position to disclose information on its members or operations, as prescribed in the Intelligence Services Act, 2002 (Act 65 of 2002)". Advocate Jay Govender said the OIGI was "not in a position to elaborate on information received and to substantiate what was analysed and considered". "To do so would be tantamount to divulging investigation techniques and methods, wh

Aspen to raise R1.9bn by selling a portfolio of products

Drugmaker, whose shares have more than halved since September 2018 on concerns that the group has too much debt, will use the proceeds to reduce gearing Drugmaker Aspen Pharmacare says it will raise up to R1.9bn by selling a portfolio of products in Australia and New Zealand to US group Mylan. Aspen, whose shares have more than halved since September 2018 on concerns that the group has too much debt, said it will use the proceeds to reduce gearing. In December, Aspen entered into a distribution agreement with Mylan subsidiary Alphapharm regarding the portfolio of prescription and over-the-counter products sold mainly in Australia and New Zealand. Mylan was also given an option to buy the portfolio. Aspen said on Monday Mylan will buy the portfolio for a maximum consideration of 188-million Australian dollar, of which 93-million Australian dollar is payable by the end of May, 30-million Australian dollar is due in January 2020, and up to 65-million Australian dollar is payable in September 2020. The value of the last payment is partially contingent on Aspen satisfying certain conditions.

Business' Wish List For Ramaphosa's Cabinet

The hot topic of the past week has been the expected list of new cabinet members in the Ramaphosa administration. In order to see economic growth and steer clear from a downgrade, Ramaphosa will need to boost investor and business confidence with his leadership decisions. For more on the importance of the ANC leadership structure on the economy CNBC Africa is joined by SACCI CEO Alan Mukoki.

Aspen sells Australian prescription portfolio to Mylan

Aspen Pharmacare said on Monday that Mylan had exercised an option to buy Aspen's portfolio of prescription and over-the-counter products in Australia for A$188-million ($130-million). In December, South Africa-based Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialised in Australia and New Zealand. The distribution arrangement included an option for Mylan to acquire this portfolio from Aspen Global Incorporated and Aspen Australia.

GLENCORE PLC - GLN: Transactions In own Shares - 17 May 2019

Wrap Text GLN: Transactions In own Shares - 17 May 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 20 May 2019 Transactions in own shares-17 May 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 May 2019 Aggregate number of ordinary shares of USD 0.01 each purchased: 3,000,000 Lowest price paid per share (GBp): 271.7000 Highest price paid per share (GBp): 278.2500 Volume weighted average price paid per share (GBp): 274.3705 The Company will hold the repurchased shares in treasury. Following the above transaction, the Company holds 817,657,649 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 13,768,542,417. 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 Volu

Google suspends some business with Huawei

Photo: Charles Platiau/Reuters Angela Moon | May 20, 2019 Alphabet Inc's Google has suspended business with Huawei that requires the transfer of hardware, software and technical services except those publicly available via open source licensing, a source familiar with the matter told Reuters on Sunday, in a blow to the Chinese technology company that the US government has sought to blacklist around the world. Holders of current Huawei smartphones with Google apps, however, will continue to be able to use and download app updates provided by Google, a Google spokesperson said, confirming earlier reporting by Reuters. "We are complying with the order and reviewing the implications," the Google spokesperson said.

Andrea Freeborough is Distell's new head winemaker

Former Nederburg cellar-master Andrea Freeborough has been appointed as Distell's new head winemaker. In her new role, she will oversee all of Distell's wine brands from a top-line perspective, managing all aspects of winemaking by working hand-in-hand with its winemakers and viticulturists. After obtaining her BSc Hons degrees in viticulture and oenology from the University of Stellenbosch, Freeborough commenced her winemaking career an assistant winemaker at Neethlingshof in Stellenbosch.

Uganda is open to do business with South Africa

The efforts of the Ugandan government to improve the country's investment climate have succeeded in transforming the East African country into an attractive investment destination in the region.  This was said by the Acting Executive Director of the Uganda Investment Authority, Mr Lawrence Byensi ahead of the Outward Trade and Investment Mission to Uganda organised by the Department of Trade and Industry ( the dti ). The mission, which will comprise of 25 South African companies, will take place from 19-24 May 2019. The main objective of the mission is to increase bilateral trade and investment between South Africa and Uganda.

South Africa's Aspen sells Australian prescription portfolio to Mylan

JOHANNESBURG (Reuters) - Aspen Pharmacare said on Monday that Mylan NV had exercised an option to buy Aspen's portfolio of prescription and over-the-counter products in Australia for 188 million Australian dollars ($130 million). In December, South Africa-based Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialised in Australia and New Zealand. The distribution arrangement included an option for Mylan to acquire this portfolio from Aspen Global Incorporated and Aspen Australia. ($1 = 1.4432 Australian dollars) (Reporting by Nqobile Dludla; editing by Jason Neely) 2019-05-20 10.

Barloworld hikes dividend as equipment sales boost profits

Operating profits fell due to once-off charges, including costs related to the implementation of its Khula Sizwe BEE deal Barloworld, which distributes Caterpillar equipment and Volkswagen vehicles, has hiked its interim dividend 13.8% after earnings grew thanks to better equipment sales in Southern Africa. The group's results for the six months to end-March were pleasing considering that trading conditions were tough, CEO Dominic Sewela said. Revenue declined 1.6% to R30.4bn, even though the equipment business in Southern Africa grew sales by 15.7% to R10bn. "This was driven by increased mining, construction and service activity in SA, together with increased machine and after-market sales in Mozambique and Zambia," Barloworld said. Normalised headline earnings per share, a metric that excludes certain once-off charges, rose 14.1%. The group raised its interim dividend per share by 13.8% to R1.65. Barloworld said operating profits fell 4% to R1.9bn due to once-off charges, including costs related to the implementation of its Khula Sizwe BEE transaction. Meanwhile, the group said its equipment order book in Southern African was unchanged at R2.4bn, "driven by strong demand from contract miners". Elsewhere, the outlook for mining activity in Russia "remains positive". The order book in that market nearly doubled to $83.4m. "The pipeline for major projects in Russia remains strong," Barloworld said. But the group said there are "declining prospects" for growth in SA's economy. "It is anticipated that new vehicle sales will remain challenging in the second half, with the premium segment growth expected to be negative for the full period while volume brands provide resilience over the period," the group said. Barloworld represents brands such as Caterpillar, Avis, Budget, Mercedes-Benz, Toyota, Volkswagen, Audi, BMW, Ford, and Mazda. hedleyn@businesslive.co.za.

EMERGING MARKETS-Stocks rebound, Indian markets cheer exit polls showing Modi win

* India shares rise more than 3%, rupee up 1% * China shares down after Washington blacklists Huawei * Turkey's lira up By Susan Mathew May 20 (Reuters) - Emerging market stocks and currencies rose on Monday, with Indian assets cheering exit polls suggesting a victory for the ruling party in general elections, while the intensifying Sino-U.S. trade war kept the pressure on Chinese equities. Rebounding from last week's declines, MSCI's index of emerging market currencies and shares was up 0.09% at 0821 GMT.

UPDATE 1-South Africa's Aspen sells Australian prescription portfolio to Mylan

(Adds details) JOHANNESBURG, May 20 (Reuters) - Aspen Pharmacare said on Monday that Mylan NV had exercised an option to buy the South African drugmaker's portfolio of prescription and over-the-counter products in Australia for 188 million Australian dollars ($130 million). In December, Aspen said its wholly owned subsidiary incorporated in Mauritius, Aspen Global Incorporated, and its Australian subsidiaries had entered into a distribution arrangement with Alphapharm, a subsidiary of Mylan in respect of the portfolio commercialized in Australia and New Zealand. That deal included an option for Mylan to buy the portfolio.

Five ways employers can help to ease the financial pressure facing South Africans

John Anderson, Head of Strategic Development at Alexander Forbes Group Financial stresses are becoming a bigger problem for South Africans: • An average pensioner can replace only 28% of their income when they retire. • Two out of five credit-active South Africans have impaired credit records. John Anderson, head of strategic development at Alexander Forbes, says: "Our research has found that on average, employees are spending between 13 to 20 hours a month worrying about finances." It makes a big difference when employees get the right information and advice at the right time.

Aspen sells Australia, New Zealand prescription portfolio to Mylan

JOHANNESBURG, May 20 (ANA) - JSE-listed Aspen Pharmacare Holdings said on Monday it had sold its portfolio of prescription and over-the-counter products in Australia and New Zealand to global generic pharmaceuticals company Mylan (NASDAQ:MYL) N.V. for A$188 million (around R1.8 billion). Last December Aspen's Mauritian subsidiary Aspen Global Incorporated (AGI), and its Australian subsidiary Aspen Australia entered into a distribution arrangement with Mylan subsidiary Alphapharm in respect of this portfolio of products. The arrangement included an option for Mylan to acquire the portfolio from AGI and Aspen Australia. Aspen said Mylan had exercised this option and would acquire the portfolio from AGI and Aspen Australia for a maximum consideration of A$188 million payable in three tranches by September 2020. "The value of the final payment is partially contingent on Aspen satisfying certain conditions," it said. This divestment is in line with Aspen's stated intention to not only acquire value enhancing products but also divest of non-core assets, thereby ensuring enhanced operational focus. Aspen said the proceeds would be used to reduce its gearing. Monday's statement comes after the New Zealand overseas investment office last week granted approval to Lactalis to acquire Aspen's baby milk formula business in that country. The multinational pharmaceutical company last month said New Zealand authorities had indicated that the sale of its infant formula business to French dairy group Lactalis International for R11.76 billion could be approved soon. Aspen said the parties were mutually committed to closing the deal by the end of this month.

JSE opens lower as US homes in on Huawei

Google has suspended business with Huawei, further escalating tension between the US and China The JSE opened lower on Monday morning following the Asian markets after the US intensified its crackdown on Chinese telecom giant Huawei. Just days after US president Donald Trump signed an executive order to blacklist Huawei from the US market, Google suspended business with the telecoms company, further escalating tension between the US and China. Google suspended all business with Huawei that requires the transfer of hardware, software and technical services excluding products available via open-source licensing, Reuters reported.

SIBANYE GOLD LIMITED - Broad-based black economic empowerment status and availability of the B-BBEE annual compliance report

Wrap Text Broad-based black economic empowerment status and availability of the B-BBEE annual compliance report Sibanye Gold Limited Trading as Sibanye-Stillwater Incorporated in the Republic of South Africa Registration number 2002/031431/06 Share code: SGL ISIN - ZAE000173951 Issuer code: SGL ("Sibanye-Stillwater" or "the Group" or "the Company") Broad-based black economic empowerment status and availability of the B-BBEE annual compliance report Johannesburg, 20 May 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) advises that the Company's Broad-based black economic empowerment ("B-BBEE")annual compliance report prepared pursuant to Section 13(G)(2) of the Broad-Based Black Economic Empowerment Act No. 53 of 2003 is available on the Company's website at https://www.sibanyestillwater.com/investors/documents-circulars. Contacts: Email: ir@sibanyestillwater.com James Wellsted Head of Investor Relations +27 (0) 83 453 4014 Sponsor: J.P.

Linden Market 2019 kicks off + popular Joburg markets to check out

The  Linden Market of 2019 is set to kick off. The Autumn Edition market will take place at The Botanical Gardens in Emmarentia. For the first time ever TLM will be a salsa-ish affair - the day will kick off with Yoga in the park at 9:00am.

'You can easily get a 15% total return from a share like MultiChoice'

MultiChoice at the current price… there's good value… it's trading at under 10 times earnings… The JSE's average is 17 times earnings… — Jacques Plaut, Portfolio Manager - Allan Gray About 14 million households across 50 countries in Africa make use of MultiChoice. The company listed on the JSE in February when it unbundled from its parent, the gargantuan Naspers. On its own, it remains in the JSE's Top-40.

Stocks plummet as US takes aim at Chinese tech giant

The US made good on its threats against Chinese telecom giant Huawei, as US tech giant Google announced that it would be restricting Huawei's access to its android operating system due to the company being blacklisted. This move presents a higher probability of the trade talks between the US and China completely breaking down which would be more adverse for global growth prospects. In mainland China the Shanghai Composite Index lost 0.85% while in Hong Kong the Hang Seng lost 0.57%.

RESILIENT REIT LIMITED - Posting of circular and notice of general meeting

Wrap Text Posting of circular and notice of general meeting RESILIENT REIT LIMITED (Incorporated in the Republic of South Africa) (Registration number: 2002/016851/06) JSE share code: RES ISIN: ZAE000209557 Bond company code: BIRPIF (Approved as a REIT by the JSE) ("Resilient") POSTING OF CIRCULAR AND NOTICE OF GENERAL MEETING Shareholders are referred to the announcement released on SENS on 13 May 2019 regarding the proposed specific repurchase by Resilient, in part directly and in part via its subsidiary, Resilient Properties Proprietary Limited, of 52 182 504 Resilient shares (the "Share Repurchase") and the purchase of 7 474 707 Fortress B shares (the "Fortress Share Purchase") (collectively, the "Share Sale") held by The Resilient Empowerment Trust in full settlement of the loans advanced by the Resilient group to The Resilient Empowerment Trust. Shareholders are advised that a circular regarding the Share Sale (the "Circular"), and incorporating a notice of general meeting, was posted to Resilient shareholders on Monday, 20 May 2019. A general meeting of Resilient shareholders will be held at 10:00 on Monday, 24 June 2019 at 4th Floor, Rivonia Village, Rivonia Boulevard, Rivonia, 2191 (the "General Meeting"), to consider and, if deemed fit, pass, with or without modification, the resolutions contained in the notice of General Meeting. A copy of the Circular is available on Resilient's website (https://cmsignition.co.za/download/files_1208/Resilient-Specificrepurchasecircular.pdf). The salient dates and times for the Circular and notice of General Meeting are set out below. 2019 Record date for determining which Shareholders are entitled to receive the Circular and notice of General Meeting Friday, 10 May Announcement relating to the issue of the Circular and notice of General Meeting releas

Liberty stems outflows as turnaround gains traction

The life assurer took remedial action last year to improve the value of new business, stem outflows and improve its financial performance. Liberty Holdings says a turnaround implemented last year has continued to gain traction, despite the challenging socio-economic environment in the country. In an operational update ahead of its annual general meeting on Friday, the life assurer said its Liberty Corporate and Liberty Africa Insurance businesses saw an improvement in new business inflows in the three months to end-March, while SA Retail new business volumes remained under pressure.

Anglo American Platinum fires 50% of underground workers at Mototolo mine

Anglo American Platinum (AAP) said on Monday it had dismissed about 50% of the underground workforce at its Mototolo mine over an unsanctioned strike and gave them until Tuesday to appeal. In a statement, the company said the impact on production had been minimal thus far and AAP was exploring options to ensure that Mototolo recommenced full production as soon as practically possible. The General Industrial Workers Union of South Africa (GIWUSA) served a notice on AAP to strike at Mototolo on May 9, following a dispute regarding employees' medical scheme after the purchase of the mine from Glencore last November.

Matsa signs ore deal with AngloGold Ashanti

PERTH (miningweekly.com) - ASX-listed Matsa Resources has inked an ore purchase agreement with gold miner AngloGold Ashanti for the ore produced from the Red October gold mine, in Western Australia. Ore from the Red October mine will be proceed at AngloGold Ashanti's 3.8-million tonne a year mill at the Sunrise Dam project for a period of up to five years. Matsa will be responsible for mining and transporting the ore to the Sunrise Dam operation, some 60 km from the Red October mine, with AngloGold Ashanti taking possession of the ore once delivered.

Rand firmer as risk selloff pauses, stocks down

Investors are positioning themselves for an event-packed week. South Stocks weakened, led by bourse heavyweight and e-commerce group Naspers. At 1510 GMT the rand was 0.52% firmer at 14.3725 per dollar compared with its Friday close of 14.4475 in New York. Last week the rand and other emerging market currencies weakened as the trade spat between Beijing and Washington worsened, while solid economic data from the United States also pushed money towards the greenback. The rand shed close to 2% in the previous week but remained one of the better performing emerging currencies as the post-election positivity limited losses, with investors awaiting the announcement of a new cabinet. Before the announcement by incoming President Cyril Ramaphosa after this weekend's inauguration, Statistics South Investors also await developments in US-China trade negotiations and the Federal Reserve minutes that may give more clues on what prompted US policymakers to strike a broadly neutral stance this month. In fixed income, the yield on the benchmark 10-year South On the bourse, the Johannesburg all-share index fell 1.01% to 55 617 points, while the Top-40 index was 1.06% lower at 49 551 points. Naspers led the market lower, down 3.29% to R3 210 after losses in Hong Kong technology giant Tencent , in which it has a 31% stake. "All the tech shares in China have come under pressure and our whole market is built on Naspers," said Greg Davies, equities trader at Cratos Capital. A US crackdown on China's Huawei Technologies stoked concerns about an escalating fallout in the US-China trade dispute, hitting stock markets..

Alibaba releases first philanthropy report, highlights importance to business...

Alibaba releases first philanthropy report, highlights importance to business model Alibaba has released its inaugural philanthropy report which highlights the charitable efforts of the organisation and its employees. Over the past year, two of its philanthropy-focused platforms - Alibaba Philanthropy, Alipay Philanthropy - raised donations amounting to over 1.27bn yuan (US$184mn). Simultaneously, 15mn people have registered with Alibaba's ‘Each Person Three Hours' platform which connects Chinese volunteers with organisations in need of charitable assistance.

Food justice is a pipe dream without tackling industry

In a country like South Africa — with the triple challenges of unemployment, poverty and inequality — food justice is only the beginning of a long conversation for addressing socio-economic rights. The historical injustices of people in South Africa remain geographically, socially and economically isolated from the conversation the country is having about healthy food options. The increasing supply of unhealthy food to South Africans resulted in almost four out of ten South African women being obese, and close to 70% are overweight.

Four car collision in Sandton

At 12H44 Sunday afternoon Netcare 911 responded to reports of a collision on the N1 between Rivonia Road and William Nicol in Sandton. Reports from the scene indicate that four vehicles were involved in a collision. Paramedics assessed the scene and found that the Motorists involved in the collision sustained minor injuries.

Dr Dennis George Responds to his Dismissal as Fedusa General Secretary

JOHANNESBURG  - Dr Dennis George has responded to his dismissal as the Fedusa General Secretary.  George said in a statement, "On 22 February 2019, I stated for the record that Fedusa currently does not have an investment company through which it transacts for empowerment investments. I said then that Difeme Investments was used as a nominee to warehouse AYO shares until such time as Fedusa and/or its affiliates set up companies to take up the AYO shares. Unlike other unions with investment companies, Fedusa was considering how best to generate additional revenue streams.

Lucky escape from serious injury in Randfontein crash

Gauteng: No injuries reported when the driver of a light motor vehicle lost control crashing into a tree on Maugham Road in Randfontein. The patient was assessed on scene by Paramedics and found to be in a stable condition. Shawn Herbst Media Liaison Officer Netcare Limited Netcare 911....

Anglo American Plati...

Anglo American Platinum (AAP) said on Monday it had dismissed about 50% of the underground workforce at its