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Saturday, 30th May 2020
8:50:06pm

Business

Articles related to business

S.Africa's Absa PMI falls to lowest in 10 years on growth fears

South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) sank to its lowest level in a decade in September, on weak demand linked to fears over slowing domestic and global growth, the survey showed on Tuesday.

The index, which gauges manufacturing activity in Africa’s most industrialised economy, fell to 41.6 in September, from 45.7…

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Kenya Airways chairman calls for professional board after nationalisation

Kenya Airways must avoid picking a board packed with politically-connected individuals after it is renationalised in order to ensure future success, its chairman said on Tuesday. 

The loss-making airline, which is 48.9% government-owned and 7.8% held by Air France-KLM, was privatised 23 years ago but sank into debt and losses in 2014. Lawmakers…

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Oil major Total closes purchase of Anadarko's Mozambique LNG asset

French oil major Total has completed the acquisition of Anadarko’s 26.5% stake in Mozambique’s liquefied natural gas project for $3.9 billion, Total said on Monday, in a deal expected to raise much-needed revenue for Mozambique.

“Mozambique LNG is a one of a kind asset that perfectly fits with our strategy and expands our position in liquefied…

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Ruling party chair in Nigeria calls for boycott of SA businesses, goods

The National Chairperson of Nigeria's ruling party, the APC, has called for a boycott of South African goods and services at a media conference in Abuja.

This follows a wave of xenophobic attacks and looting in Gauteng, which has caused outrage in the west African country.

In a video of a media conference uploaded by Channels TV, All Progressives…

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Thomas Cook customers say hotel in Tunisia stopped them leaving

British tourists in Tunisia said their hotel stopped them leaving for several hours on Saturday night over concerns about payment by their holiday operator Thomas Cook, though the Tunisian government said the incident was a misunderstanding.

Gary Seale, a guest at the Orangers Hotel in Hammamet, posted on Facebook at 9.39pm: “security have refused…

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S.Africa's Old Mutual to buy back $158 mln more shares

Old Mutual Ltd will launch its second share buyback of the year on Sept. 3, South Africa’s second-largest insurer said on Monday after posting a 10% rise in half-year profit.

The company will buy back up to 2.4 billion rand ($157.51 million) worth of shares subject to market conditions.

“The board believes that the share price is trading at a…

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