Africa

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Africa News

8 Feb 2012 at 12:12am
Africa is losing out on billions of dollars in potential earnings every year because of high trade barriers on the continent, the World Bank said Tuesday.
7 Feb 2012 at 7:06pm
South Africa on Tuesday ruled out nationalising its key mining industry in a reassurance to jittery investors and a blow to those in the ruling ANC calling for a state takeover.
7 Feb 2012 at 2:49pm
JOHANNESBURG (Reuters) - ArcelorMittal South Africa slid into a full-year loss on the back of higher raw material costs, lower output and weaker sales and warned that a pick-up in demand from key construction industry customers has yet to materialise. Chief Executive Nonkululeko Nyembezi-Heita said restocking and lower input prices would bring a significant turnaround in earnings for the first ...
7 Feb 2012 at 9:24am
CAPE TOWN (Reuters) - South Africa's mines minister said on Tuesday that industry chief executives should be held liable for avoidable fatalities, also raising the possibility of court action. Targeting chief executives would take her safety drive to new levels as the government tries to stem the death toll in the country's mines, the world's deepest and among the most dangerous. "Fatalities ...
7 Feb 2012 at 10:14am
PRETORIA (Reuters) - South Africa's official jobless rate eased to 23.9 percent of the labour force in the fourth quarter of 2011 from 25.0 percent in the third as new jobs were added in the trade, social services and manufacturing sectors, a survey showed on Tuesday. But growth in Africa's largest economy still remains far below the levels needed to make a significant dent on unemployment, one ...
7 Feb 2012 at 10:15pm
CAPE TOWN, South Africa -(Dow Jones)- Anglo Australian miner Rio Tinto PLC (RIO, RIO.AU, RIO.LN) sees Africa as a key component of its global growth strategy, the head of its energy division said Tuesday.
8 Feb 2012 at 9:56am
The West's increasing pressure on Iran has meant scrutiny for South African businesses that operate in the Middle Eastern nation accused of having nuclear ambitions.South African-Iranian political ties ...
8 Feb 2012 at 5:55am
WASHINGTON (Reuters) - South African grocer Shoprite spends $20,000 a week in import permits to truck meat, milk and other goods to its stores in neighboring Zambia. One of its trucks may need as many as 1,600 documents to cross a border in southern Africa. Another major South African retailer Woolworths pays full tariffs to transport food and clothing to its franchise stores within the Southern ...
7 Feb 2012 at 7:54am
JOHANNESBURG (Reuters) - ArcelorMittal South Africa Ltd, a unit of the world's top steelmaker, on Tuesday reported a full-year headline loss, hit by higher raw material costs and weaker sales, but said it expects a better first quarter. The steelmaker's production last year was hit by structural problems, including a furnace failure at its Newcastle plant, a strike in the steel sector and a ...
8 Feb 2012 at 7:46am
NEW DELHI (Reuters) - India's Bharti Airtel Ltd disappointed investors by posting its eighth straight quarter of falling profits as the world's No. 5 mobile carrier by subscribers was hit by higher tax and interest costs, though its nascent but key Africa business improved. Shares in Bharti, nearly a third owned by Southeast Asia's biggest phone firm SingTel, fell as much as 6.5 percent on ...
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