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Reuters

S&P's doesn't see downside risks to South Africa's sovereign rating

20th June 2018 S&P's Global Ratings does not see downside risks to South Africa's sovereign credit rating, its Africa regional manager said on Wednesday. "A stable outlook at this point signals to you the risks are not stacked on the downside (or) medium term ... unless obviously the situation would worsen... 

Hyundai teams up with VW's Audi to boost hydrogen cars

20th June 2018 Hyundai agreed a deal with Audi on Wednesday to collaborate on hydrogen car technology, hoping to boost an energy segment that has lagged behind battery electric vehicles. The South Korean firm wants to increase the uptake of hydrogen cars, which are propelled by electricity generated by fuel... 

South Africa's GDP growth expected to hit 1.7% in 2018

20th June 2018 South Africa's economy is expected to recover from a poor start this year, rescued by stronger growth in the rest of the world, a Reuters poll found on Wednesday. South African gross domestic product shrank 2.2% in the first quarter, led by a slowdown in agriculture and mining, after expanding... 

VW, Ford confirm talks on possible commercial vehicle tie-up

20th June 2018 Volkswagen and Ford Motor Co are talking about jointly developing and building a range of commercial vehicles including vans, the companies confirmed on Tuesday. A Reuters story earlier on Tuesday said VW and Ford were discussing joint production of vans. 

Rusal starts shipping bauxite from Guinea's Dian-Dian mine

19th June 2018 Sanctions-hit Russian aluminium producer Rusal said on Tuesday it had started shipping bauxite from its Dian-Dian bauxite project in Guinea to its alumina refineries in other countries. Rusal, the world's largest aluminium producer outside China, has been hit by US sanctions imposed on it and... 

BHP to sell Chilean copper mine to private equity fund EMR Capital - sources

19th June 2018 BHP has agreed to sell Cerro Colorado copper mine to private equity fund EMR Capital, two sources close to the deal said on Tuesday. The world's biggest listed miner had hired Citi early in 2017 to sell the asset, which was then valued at around $800-million, although one of the sources said the... 

Selloff in iron-ore to rubber in China as US trade war widens

19th June 2018 Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy. The selloff also hit steel, copper, cotton and palm oil, as Chinese investors returned... 

BHP offers August loading LNG cargo from Australia export plant - sources

19th June 2018 Global mining and resources company BHP is offering to sell a liquefied natural gas (LNG) cargo from its North West Shelf export plant in Australia, two trade sources said on Tuesday. The cargo will load over the August 15 to 17 period and is offered on a free-on-board basis, they said. 

Aveng shares leap as M&R moves closer to tie-up

19th June 2018 Shareholders in South Africa’s Murray & Roberts voted on Tuesday for the company to look into a potential tie up with construction rival Aveng, sending Aveng's shares around 25% higher. The resolution got the backing of 52.06% of votes at the Murray & Roberts' (M&R) annual shareholder meeting. 

Nigeria power generation drops after ruptured gas pipe shuts six power stations

19th June 2018 Nigeria experienced a sharp drop in power after a gas pipeline rupture caused six power stations to halt operations temporarily, the electricity grid operator said, underscoring the chronic instability of the country's power infrastructure. The Transmission Company of Nigeria (TCN), the grid... 

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