Africa
MTN Full-Year Profit Falls 4% as Rand Gains Cuts Income From Other Markets MTN Group Ltd., Africa’s largest
mobile-phone operator, said full-year profit fell after South
Africa’s rand gained, reducing income it earns from abroad when
converted back into the local currency.
Anglo Platinum, Impala Dumped at RMB in Favor of BHP Billiton, Mvelaphanda The rally in platinum stocks that
raised valuations by two thirds since December 2008 and pushed
premiums compared with diversified miners to triple the three-
year average is a signal to sell, RMB Asset Management said.
South African Manufacturing Output Advances At Weaker Than Forecast Rate South African manufacturing
production grew at a weaker pace in January than economists
forecasted, indicating a slow recovery from last year’s
recession.
ArcelorMittal South Africa, Kumba Discussed Mine Rights, Fauconnier Says Con Fauconnier, who helped oversee
the 2001 formation of the companies now known as Kumba Iron Ore
Ltd. and ArcelorMittal South Africa Ltd., said they discussed in
depth their responsibilities regarding the renewal of mineral
rights.
Stocks in South Africa Decline, Led by AngloGold Ashanti, Harmony and MTN South Africa’s FTSE/JSE Africa All
Share Index slid 176.24, or 0.6 percent, to 27,911.43 in
Johannesburg, paring yesterday’s 0.7 percent gain.
Kumba Is In Talks With Ministry About ArcelorMittal Sishen Mining Rights Kumba Iron Ore Ltd., a unit of
Anglo American Plc, is in talks with South Africa’s government
about the rights in the country’s Sishen mine that ArcelorMittal
South Africa Ltd. relinquished by failing to renew in time.
Old Mutual Resumes Dividend Payment, Plans to Sell Unprofitable U.S. Unit Old Mutual Plc, the biggest
insurer in Africa, may sell some U.S. assets to reduce debt
after posting a loss for 2009.
Shell Says That it Shuts 2 Nigeria Natural Gas Plants to Restart Pipeline Royal Dutch Shell Plc’s Nigerian
unit said it shut two gas plants to safely restart a major
pipeline after repairs.
Rand Declines as Metal Prices Decline and Factory Output Misses Estimates The rand declined for a second day
as precious metals prices fell and manufacturing in South Africa
increased less than analysts estimated, signaling a slower
recovery from last year’s recession.
Strike at Alcoa, Rio Bauxite Assets in Guinea Ends, Union Leader Says A strike over pay at Compagnie des
Bauxites de Guinee, the world’s biggest bauxite producer that is
part owned by Alcoa Inc and Rio Tinto Plc, ended today, Cekou
Oumar Ly, a labor union leader, said from Guinea.
South Africa to Spare 300-Year-Old Stellenbosch Vineyards From Tin Mining South Africa’s government said it
will stop its own company from exploring for and mining tin and
other metals in an area that includes 300-year-old vineyards and
some of the country’s best-known wine estates.
Somali Government to Sign Peace Accord With Islamists, African Union Says Somalia’s transitional government
and the Ahlu Sunna wal Jama’a militia that controls parts of
central Somalia will sign a peace agreement this weekend, an
African Union official said.
South Africa's Cosatu Gauteng Branch Says Julius Malema Can't Be Trusted Julius Malema, leader of the youth
wing of South Africa’s ruling party, can’t be trusted by workers
of the country, the Gauteng branch of the Congress of South
African Trade Union said.
FEEDBACK
HOME
