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Reuters

SA producer prices up for first time in 8 months

28th January 2010 South Africa's producer prices increased by 0,7% year-on-year in November, compared with a 1,2% decrease in November, official data showed on Thursday. Statistics South Africa said on a monthly basis producer inflation, representing domestic output, was at 0,7% compared with 0,8% in November.  

Soros says Obama bank levy premature, backs other plans

28th January 2010 Billionaire financier George Soros said on Wednesday US President Barack Obama's plan to impose a tax on large banks was premature and his wider proposals to rein in banks' activities may not go far enough. "To tax the banks when they are doing everything they can to get out of a hole is the... 

Egypt says Doha trade deal unlikely this year

28th January 2010 World trade talks are unlikely to be completed this year because the economic slowdown has raised Western fears about the impact of trade liberalisation, Egypt's Trade Minister said on Wednesday. The G20 has called for an outline deal in the talks - launched in Doha in 2001 with the goal of... 

Barrick seeks limited injunction on Cortez Hills

26th January 2010 Barrick Gold said on Tuesday it has requested a U.S. court to issue a limited injunction that would allow work at its Cortez Hills mine in Nevada to continue while additional environmental assessments on the project are under way. In December, an appeals court in San Francisco ruled that the... 

Reserve Bank leaves rates flat, discussed a cut

26th January 2010 South Africa's central bank left interest rates steady on Tuesday, as expected, on balanced inflation risks and signs of economic recovery, shrugging off trade union pressure to ease policy. Africa's biggest economy returned to growth in the third quarter of last year and manufacturing activity,... 

Indonesian nickel firm Inco's CEO to retire in March

26th January 2010 The president director of Indonesian nickel firm PT International Nickel Indonesia said on Tuesday he will tender his resignation in March. "I haven't resigned but I plan to," president director Arif Siregar told Reuters on Tuesday, adding that he will submit his resignation to the firm's... 

SARB says shareholders should not abuse power

26th January 2010 South Africa's central bank has reiterated its mandate of protecting the value of the local currency for sustainable economic growth and warned shareholders against abusing their power for personal interests. In what it said was a response to the media interest generated by reports that the... 

ETF Secs' US platinum, palladium inflows jump

25th January 2010 Holdings of ETF Securities' US-based platinum exchange-traded fund rose 10% on Friday, while those of its US palladium product climbed by a third, the company said on Monday. The inflows reflect sales made two or three days prior to the recorded date at which the metal is received by the... 

Eskom's former CEO sues over 'dismissal' – paper

25th January 2010 South African power utility Eskom's former chief executive, Jacob Maroga, is suing the company for R85-million for wrongful dismissal, local newspaper the Sunday Times said. It said Maroga had filed a civil claim for all payments due under under a five-year contract that should have run until... 

Food, fiscal discipline curb Malawi inflation

21st January 2010 Malawi's annual inflation for 2009 came in lower than forecast due to a good maize harvest and fiscal discipline, Finance Minister Ken Kandodo said on Thursday. Kandodo told Reuters average inflation was 8,4% last year, 0,3% points slower than in 2008 and well down on the government's forecast... 

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