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South Africa

White Corn Harvest As Strong Rand Makes Imports Cheaper

South Africa to import white corn from South America due to severe drought

South Africa plans to import 5 million tonnes of white corn from South America as the worst drought since 1992 continue to ravage the area, according to Grain SA, the biggest producers association in the country.

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BRICS Trade Ministers

South Africa's inflation up at 4.8% in November

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.

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Mining in Africa

Petra and Ekapa Acquire De Beers Oldest Diamond Mine

Petra Diamond Ltd and Ekapa Minerals Pty have acquired De Beers oldest diamond mine in Kimberley.

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Soybean farm

Price Dropped as U.S. Soybean is Expecting Record High Production

USDA monthly outlook reported that soybean crops are expected to reach a record high harvest in six years, thus lowering the price in CBOT. Two other U.S. major crops, corn and wheat also estimated to produce higher than expected result.

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Indian Railways

GE and Alstom get $5.6 billion deals to build India railways

General Electric Co. and Alstom have won contracts from India's state owned rail company worth a combined of $5.6 billion to supply and service diesel locomotives as the country works to modernise its infrastructure. The contracts are also the biggest deal to be awarded by India to foreign firms.

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World flags

The new accurate way to measure the world’s wealthiest countries

New World Wealth (NWW), a South Africa-based market research consultancy, released the lists of wealthiest countries, ranked by using its own new method.

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Smartphone users

Xiaomi sold 1 million smartphones in India

Xiaomi sold 1 million handsets in the third quarter in India, which considered its second biggest market. CNET has reported that Xiaomi VO Hugo Barra considers this quarter their best quarter ever with the sales benchmarks it reported. The sales in India add a whopping 45 percent quarter-on-quarter growth for the company.

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Panasonic Corp.

Panasonic aims $2B revenues from smartphone biz

After exiting the smartphone business in 2005, Japanese electronics major Panasonic is making a comeback in this segment and has prepared business plans to bolster sales volume for reaching the target of $2-billion revenues in next three years.

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South Africa

Broadband spread in SA unplugs 'video on demand' biz

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.

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Shopping centre

Wal-Mart makes slow progress navigating Africa's challenges

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.

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Russia

World Bank sees protracted recession in Russia

Russia faces a protracted recession as the impact of Western sanctions lingers and oil prices stay low, the World Bank said in a report published on Wednesday.

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Wine competition

Foreign, domestic rosé wines vie for bigger share of U.S. market

A wine battle may be uncorked as imports of rosés from France, Italy, Spain, Germany, South Africa vie for shelf space and a share of the U.S. market, which is good news for consumers.

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Paris

What the Superdollar means for summer travel

Jane McManus can hardly believe her luck. The New York-based sportswriter for ESPN.com is planning a summer vacation with her family in Ireland.

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Casino Chips

South Africa's Sun International to buy Peermont in $775 million deal

South African hotel chain Sun International (SUIJ.J) on Friday announced plans to take over casino resort group Peermont for nearly 9.5 billion rand ($775 million).

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BHP Billiton

BHP $13 billion spin-off South32 plans cautious approach to growth

BHP Billiton has put far less debt than expected into its $13 billion South32 spin-off, positioning the company formed from its unloved assets to weather tough markets and still pay a dividend.

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