SA investors eye R13bn Zim deals
Harare – South African investors are considering investing at least $1.6bn (R13.37bn) in capital projects in various sectors of the Zimbabwean economy, a Zimbabwean government minister said on Monday. Economic Planning and Investment Promotion Minister Tapiwa Mashakada said his country had received various project proposals since it held a high-level trade and investment conference in [...]
Clark’s appointment as SABMiller CEO fast-tracked
JSE-listed SABMiller announced last week that it had fast-tracked the planned promotion of COO Alan Clark to CEO with immediate effect, after current CEO and executive chairperson Graham Mackay stepped down earlier than anticipated owing to an illness. Clark, who was appointed COO in July last year, was initially expected to step in as CEO [...]
Clicks forecasts higher profits
Johannesburg – Clicks Group has said diluted earnings per share excluding one-time items will grow 5 to 10 percent in the year to end August amid weakening demand. ” Retail trading conditions are expected to remain challenging as consumer spending remains subdued, ” the Cape Town-based company said in a statement last week. ” Selling [...]
LG Electronics begins sales of world’s 1st curved OLED TV
Seoul, April 29 (Xinhua) — South Korea’s consumer electronics giant LG Electronics said Monday that it began sales of curved organic light-emitting diode (OLED) TV for the first time in the global industry. LG began accepting pre-orders for its 55-inch Curved OLED TV in South Korea through more than 1,400 retail stores of the company, [...]
IMF: Mauritius economy to grow by 3.7%
Port Louis – Mauritius’ economy will expand by 3.7 percent this year, slightly below potential due to subdued demand from its main markets and modest private investment, and will accelerate to 4.4 percent in 2014, the International Monetary Fund said. The Washington based-body estimated gross domestic product grew 3.3 percent in 2012 and said that [...]
H & M releases list of RMG supplying factories including those of Bangladesh
H & M, the world’s second-largest global clothing retailer, made the list of all its supplier-factories public. The list including the factories of Bangladesh, aims to contribute to building a more transparent and, ultimately, a more sustainable ‘ fashion industry’. The Sweden-based company is one of the first and the largest companies that has made [...]
Germany key to Europe’s flagging spirits volumes
Not only is Germany forming a last line of defence against the euro’s implosion, the land of steins and beer kellers also offers fertile ground to distillers foraging for sales in Western Europe’s withered landscape. Diageo’s CEO, Paul Walsh, refers to Germany as an emerging spirits market, and he’s only half-joking. The Smirnhoff distiller’s relatively [...]
Steepest PC market decline yet for MEA
The Middle East and Africa PC market experienced a significant decline of 14.1% year on year during the first quarter of 2013, with tablets eating into market share in South Africa. This is according to new data from advisory firm, the International Data Corporation (IDC). Total PC shipments in the region slowed down to 5.3million [...]
Chicken prices set to soar
Cape Town – The International Trade Commission’s {Itac’s} latest move whack poultry importers with an 82% price increase on imported chicken is going to get right into the cooking pots of the poor, an expert said on Friday. ” Chicken’s Big Five ( Rainbow, Astral, Afgri, Sovereign and Country Bird) and other members of the [...]
Initiative to employ youth launched
Johannesburg – An incentive to encourage businesses to employ young South Africans and reduce youth unemployment was announced in Johannesburg on Tuesday. The Youth Employment Index (YEI) aims to stimulate dialogue between corporate South Africa and others to address youth unemployment. ” We aim to reward businesses that both employ young people and have effective [...]
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