Wednesday, 8th April 2020


Articles related to business

World Diamond Council to honour De Beers’ chairperson

De Beers’ chairperson Nicky Oppenheimer will be honoured at a gala dinner of the World Diamond Council on May 14 during its eighth annual meeting in Vicenza, Italy.
WDC said in a statement that Oppenheimer would be honoured in recognition of his “considerable” contribution to the industry's effort to eradicate the trade in conflict diamonds.…

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S&P revises outlook on two SA banks

Standard & Poor's has revised the outlooks of two of the country's major banks - Standard Bank Group and FirstRand - to negative from stable.
This follows the rating agency's downgrade of the outlook on the long-term sovereign credit ratings on the country to negative from stable, owing to what it called
persistent economic and social…

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Cove says subject to Mozambique corporate taxes

Bid target Cove Energy said it will be subject to corporate income taxes in Mozambique on capital gains arising from the sale of its assets in the country.
The company, which owns a stake in a huge gas discovery off the coast of Mozambique and put itself up for sale in January, said on Tuesday a tax rate of 12.8 percent would be applied to any…

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SA's gateway status in danger?

SA’s position as the launch pad for global companies into Africa is being threatened by other countries that are rolling out red carpets for investors, experts and business leaders are warning.
Nigeria, Kenya and Egypt pose the greatest risk to SA’s continental competitiveness - despite their lacking advantages such as a sophisticated financial…

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S.Africa inflation to outpace subdued growth

South Africa's economy will grow modestly over the next three years, weighed down by the impact of the euro zone debt crisis and easily outpaced by an inflation rate kept high by a weak rand, a Reuters poll showed on Thursday.
The Reuters Econometer, a confidence index based on six weighted indicators that measures economists' views two years…

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Zarubezhneft buys blocking stakes in ALROSA’s gas assets

Zarubezhneft, a state-owned oil company, intends to acquire a blocking stake in the gas assets owned by Russian diamond miner ALROSA, according to
The oil company will have 25% plus one share in ZAO Geotransgaz and a 26-percent stake in OOO Urengoyskaya Gazovaya Kompania, all owned by ALROSA.
Last Friday, Zarubezhneft and ALROSA…

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