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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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.
Petra Diamond Ltd and Ekapa Minerals Pty have acquired De Beers oldest diamond mine in Kimberley.
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.
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.
New World Wealth (NWW), a South Africa-based market research consultancy, released the lists of wealthiest countries, ranked by using its own new method.
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.
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.
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.
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.
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.
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.
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.
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).
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.
