Samsung lifted by Galaxy sales
Seoul – Samsung Electronics said its second quarter profit rose 48 percent over a year earlier as customers flocked to get Galaxy smartphones in the absence of competitors. The South Korean firm said on Friday that its net profit reached 5.2-trillion won ($4.5-billion) in the April-June quarter on revenue of 47.6-trillion won. The earnings figure [...]
Food price hikes on the horizon
Cape Town – Food prices could rise sharply as maize and soya bean prices hit record highs in the US on Thursday, the Financial Times reported. The prices surged following a shortage of crops amid the worst US drought in 50 years. The global demand could put pressure on food prices.? ?Benchmark maize hit a [...]
SA’s growth depends on Africa
Johannesburg – South Africa’s growth depends on the development of the rest of the continent, the Public Investment Corporation (PIC) said Friday. “South Africa’s growth depends on the development of the rest of the continent; therefore it is important that we start looking at investment opportunities for South African businesses in the rest of the [...]
Maize prices rally‚ eye CEC report
Johannesburg – Maize prices ended firmer for the third straight session on Friday‚ as markets players looked to the release of the sixth maize production forecast for 2012 on Tuesday. “It is difficult to work out why our market ran up to limit on some of the longer-dated contracts‚“ said Lukas de Waal‚ a trader [...]
SADC food security ‘is most at risk’
Some global agricultural players have identified the Southern African Development Community (SADC) as the most food insecure region, due to the brisk escalation of global staple food prices, which could lead to major food shortages. Research from Economist Intelligence Unit painted a gloomy picture in its recently launched global food security index, sponsored by DuPont. [...]
Global inflation mostly within target ranges
Most inflation targeting countries, including South Africa, have experienced “fairly benign outcomes” in recent months. The Reserve Bank’s annual economic report, released yesterday, attributed the trend largely to “moderation in international food and commodity prices”. South Africa was among 14 of 24 economies in which inflation was within the country’s official target range at mid-year. [...]
New producer and consumer inflation measures to come in 2013
Statistics South Africa plans to launch revamped measures of producer and consumer inflation from the start of next year, with the first publication of the new data due in February. Revisions to the weightings of goods and services in the existing consumer price index (CPI) will be based on an income and expenditure survey for [...]
More food, beverage mergers expected
Grant Thornton said yesterday it was positive about increased merger and acquisition (M&A) activity in the food and beverage sector, as conditions seem ripe for investors looking to expand. “Much like global giant Walmart showing interest in SA’s Massmart , we’re expecting more activity of this nature in the next few years,” said Steven Kilfoil, [...]
SA ranked 40th on food security index
Johannesburg – South Africa has ranked 40th out of 105 countries in a global food security index which has the US in the top spot and the Democratic Republic of Congo at the bottom. South Africa also ranked 13th in a division of 28 countries by income streaming. Chile topped that list, with Algeria in [...]
DHN Drinks/Sedibeng Brewery merger gets the nod
A deal that will result in DHN Drinks acquiring Sedibeng Brewery has been given the nod by the Competition Tribunal. Artist’s impression of the Sedibeng Brewery before it’s completion in 2009. Sedibeng Brewery is currently owned by Heineken International and a Netherlands based company named Diageo Highlands‚ which is listed on the London Stock Exchange [...]
Proud Corporate Sponsor
Proudly sponsored by ZaPOP
.JPG)