After rising over three percent recently, Japanese Yen eased after the strong guidance on Yuan by China's central bank. The Greenback against Japanese currency fell to its lowest level since August 2015. Several emerging economies' currencies were reeling under pressure.
Asian market hit a worst week starting the 2016 trading. Global market also slipped following the turbulence in China.
China seeks to disarm North Korea nuclear weapon. Beijing has initiated dialogue with South Korea after North Korean conducted its fourth nuclear test on Wednesday.
Vietnam issued second warning for China for landing two airplane on the artificial island in disputed Fiery Cross Reef.
Falling in line with the economists' forecast, the inflation rate in South Africa rose to 4.8 percent in November, registering its highest since July 2015. Consumer prices marginally rose 0.1 percent during the month. South Africa's currency Rand fell against US dollar, euro and pound. The currency depreciation is likely to be a major risk to the inflation outlook.
China shows support to its long-time ally, Africa, by providing the continent funding support worth $60 billion.
South African largest media company, Naspers increases its U.S exposure. The company that has operated in 130 countries is ready to expand its service worldwide
Petra Diamond Ltd and Ekapa Minerals Pty have acquired De Beers oldest diamond mine in Kimberley.
Morocco will build the largest concentrated solar power in the world at Ouarzazate city. The project, alongside with hydro and wind, will help provide nearly half of Morocco's electricity requirement by 2020.
The massive expansion of fiber optic broadband (FOB) in Johannesburg and other up markets in South Africa is paving the way for video on demand (VoD) services. Many companies with offers of internet video streaming services are making a beeline to explore the untapped market in the most developed economy in African continent. It's learnt that US major in streaming video services is also entering the market.
South African insurance major MMI Holdings Ltd suffered drop of 9.8 percent in its profit for the year ending June following the market volatility, economy slowdown and inflation rise. Cape Town-based MMI Holdings is the third largest insurance company in South Africa. The company's net income eased from rand 3.3 billion to rand 2.98billion. Earnings per share (EPS) dropped 11 percent to rand 1.81.
Farmer Kenny Mabvumbe looked upset as he returned virtually empty-handed from the tobacco auction floors in the Zimbabwean capital of Harare.
Swiss food and drinks company Nestle (NESN.VX) is cutting 15 percent of its workforce in 21 African countries, the company confirmed on Wednesday.
When Wal-Mart Stores Inc (WMT.N) spent $2.4 billion on a stake in South Africa's Massmart (MSMJ.J) five years ago, the world's biggest retailer said it was buying a gateway to high-growth markets in sub-Saharan Africa.
Jaki Kweka is that rare breed of gourmet chocolatier. She makes fine chocolate in Africa using local African ingredients.
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