Swaziland: sugar mill project to rejuvenate vital export crop
Nsoko Msele sugar mill project to rejuvenate Swaziland’s vital export crop. A fourth sugar mill announced for Swaziland, the Nsoko Msele integrated sugar milling project, would significantly increase production of refined sugar, the country’s main source of export revenue, the project’s shareholders said this week. The mill will be a major job creator at a [...]
Household spending set to plunge
Johannesburg – Consumer confidence plunged to a nine-year low during the first quarter of this year, signalling that household spending, the economy’s main engine, would be subdued this year, according to a survey released on Tuesday. An index compiled by the Bureau for Economic Research (BER) and sponsored by First National Bank (FNB) fell to [...]
PC sales see worst drop ever in Q1
New York – Worldwide sales of personal computers slid 13.9% in the first quarter of 2013, research firm IDC said on Wednesday, the worst contraction since it began tracking the market in 1994. IDC said global PC shipments totaled 76.3 million units in the first quarter, the fourth consecutive quarter of year-on-year declines. The group [...]
Consumer may switch to property – FNB
Johannesburg – The SA consumer could switch some of their expenditure from consumption to home buying, FNB household and consumer sector strategist John Loos said on Wednesday. “While far from booming, a mildly recovering residential property market, and growing residential stock constraints, may just pose some further ‘downside risk for already – slowing consumer sectors’ [...]
G20 economies grow despite dip in Europe
Paris – Economic growth in G20 countries climbed by 0.5% in the fourth quarter of 2012, slowing only slightly from 0.6% pace recorded in the previous three-month period despite heavy contractions across Europe, preliminary estimates from the CEO showed on Wednesday. For the full year 2012, the Organisation for Economic Cooperation and Development said that [...]
Zambia: Seed trade rules menace to small-scale farmers
Community Technology Development Trust (CTDT), a local civil society organisation says domestication of the draft COMESA Seed Trade Harmonisation regulations will hinder small-scale farmers from participating in the seed business. CTDT country director Charles Nkhoma said domesticating draft COMESA Seed Trade Harmonisation regulations would discourage small-scale farmers as the focus tended to favour the formal [...]
Adcock board rejects Bidvest bid
Johannesburg – Adock Ingram Holdings Ltd.’s board of directors said it won’t propose Bidvest Group Ltd.’s offer for a 60 percent stake in the drug maker to its shareholders. “The timing of the Bidvest proposal is opportunistic,” Adcock said in a statement today. Adcock wasn’t contacted by Bidvest, the company said. Johannesburg – based Bidvest [...]
Rand loses on PMI data
Johannesburg – The rand was slightly softer at midday on Tuesday on lower than expected purchasing managers index (PMI) figures. The seasonally adjusted Kagiso purchasing managers’ index (PMI) lost 4.3 points to 49.3 in March after moving above the key 50-point mark to 53.6 in February, data on Tuesday showed. “We were expecting to figure [...]
Dow Jones hits record high
London – The Dow Jones industrial average touched another record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the US economy is strengthening. The Dow rose as much as 112 points late Thursday morning. The Standard & Poor’s 500 index approached its own record high. Health insurance companies [...]
Lenovo takes aim at Africa
PC and mobile device manufacturer Lenovo is targeting the top position in Africa, with a planned expansion on the continent. A Lenovo delegation, led by Graham Braum, Lenovo Africa general manager, met with representatives from government and private organisations, as well as business partners in Namibia, Nigeria, Kenya and Ghana, to reinforce it’s commitment to [...]
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