Africa
FirstRand `Hopes' to Report Rise in Second-Half Profit, CEO Nxasana Says FirstRand Ltd., South Africa’s
second-largest financial services company, “hopes” to report
an increase in second-half profit as the country’s economy
continues to rebound from its first recession in 17 years.
Tiger Brands, Pioneer Food Probed by South Africa Over Milling Practices South African competition regulators
completed an investigation of grain millers including Tiger
Brands Ltd. and Pioneer Foods Ltd. and will refer their findings
to a tribunal that can impose fines.
Nigeria May Push for a Higher OPEC Oil Quota, National Oil Company Says Nigeria may seek to increase its
OPEC oil production quota if output remains free from militant
disruption, an official from state-owned Nigeria National
Petroleum Corp. said today.
IMF's Strauss-Kahn Says Devaluing Rand Won't Ease South Africa's Problems South Africa’s inflation targeting
policy may have led to a stronger rand, said the International
Monetary Fund’s Managing Director Dominique Strauss-Kahn, who
warned against an attempt to devalue the currency.
South African Stocks Decline for First Day in Eight: Group Five, Liberty South Africa’s FTSE/JSE Africa All
Share Index dropped for the first time in eight days, snapping
its longest rising streak in more than three months. The measure
fell 218.55, or 0.8 percent, to 27,898.14.
Rand Weakens, Snapping a Seven-Day Rally, as Gold, Platinum Prices Decline The rand snapped a seven-day winning
streak, the longest rally in four months, as lower prices for
gold and platinum dimmed prospects for earnings from South
Africa’s biggest exports.
South African Business Confidence Climbs Most in 16 Years in First Quarter South African business confidence
climbed the most in 16 years in the first quarter as the
economy’s recovery from a recession strengthened, Rand Merchant
Bank said.
Petronas's Engen Interested in Acquiring BP's Marketing Assets in Africa Petroliam Nasional Berhad’s African
unit, Engen Ltd., said it will consider buying some of the
marketing assets rival BP Plc plans to sell on the continent.
Sub-Saharan African Equities: Pan Africa Insurance, Unilever Nigeria Move The Nigerian Stock Exchange All-
Share Index rose for a second day, increasing 0.7 percent to
23,199.88 in the third hour of trading in the commercial
capital, Lagos.
Anglo Platinum Paid CEO Nicolau $1.19 Million in 2009, Annual Report Shows Anglo Platinum Ltd., the unit of
Anglo American Plc that produces two-fifths of the world’s
supply of the precious metal, paid its Chief Executive Officer
8.83 million rand ($1.19 million) last year.
Malema Says Top Official in South Africa's Ruling Party Will Go in 2012 Julius Malema, who heads the youth
league of South Africa’s ruling party, said one of the party’s
top officials will not keep his post beyond 2012 because he is
pushing the agenda of the unions and the communist party.
Kenya Suspends 13 Officials Over Corruption Allegations, Presidency Says Kenya has suspended 13 senior
officials from departments including the Ministry of Local
Government and the Ministry of Finance because of allegations of
corruption, the presidency said.
U.K. to Stop Soccer Trouble-Makers Attending the World Cup in South Africa The U.K. will stop hooligans from
going to the soccer World Cup in South Africa and plans to share
intelligence with the host nation, the two countries said.
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