South Africa Financial News

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Nilesh Shah, MD, Kotak AMC, says investors can’t go to Russia because of Ukraine; to China because of Taiwan; to South Africa because of social strife, or to Brazil because of the communist government. In the emerging market, there are very limited choices and India is one bright option. So with Triveni Sangam of flows, fundamentals, and sentiment, the downside is limited but expect volatility over the next 3, 6, 9, and 12 months. Shah also says this is the time when you should be long duration because rates are going to be cut. You should be long gold because central banks are buying gold. And you should be neutral weight to equity with some bias towards large caps. Sensex and Nifty are once again hitting record highs every day, even when there are worries about not-so-great Q1 earnings. Where do you think we are headed? Nilesh Shah: If we take a 5-year, 10-year view, no doubt the only direction is up. The economy will do well and markets will do well. If you are taking a 3, 6, 9, or 12-month view, I have no idea where we are headed. On one side, we believe the correction in the market will be shallow and short-term because there is Triveni Sangam of fundamentals, flows, and sentiment.

South Africa has active investigations into alleged corruption totaling more than $7 billion at some of its top state-owned companies

Pakistan Cricket Board has named 22-year-old Fatima Sana as their captain, replacing Nida Dar for the upcoming ICC Women's T20 World Cup in UAE from October 3-20. The 37-year-old Nida is going through a lean patch and the team under her suffered T20I and ODI series defeats in England before making a semi-final exit in the Women's Asia Cup last month. The selectors however have retained Nida in the squad that has at least 10 players who appeared in the last edition of the global showpiece.

Shiv Sena (UBT) leader Aaditya Thackeray on Sunday wondered whether the introduction of cheetahs at Kuno Park in Madhya Pradesh translated into the generation of revenue, claiming penguins in the Mumbai zoo boosted the income of the civic body. «One should find out how much revenue generated after cheetahs were translocated to India (in Kuno Park in Madhya Pradesh),» Thackeray told reporters. The former state minister claimed the introduction of penguins in the civic-run Veermata Jijabai Bhosale Botanical Udyan contributed to increased earnings for the Brihanmumbai Municipal Corporation (BMC).

diamond discovered in more than a century has been unearthed in Botswana, marking a historic discovery. The stunning 2,492 carat diamond was unveiled during a special ceremony presided over by Botswana's president. This stone, which is about the size of a fist and weighs about a pound, has attracted a lot of interest and enthusiasm, as per the reports of the New York Post. Initial estimates say the diamond may be worth over $40 million, but it is too early to confirm the actual value or complete the sale. The Canadian mining corporation Lucara, which found the diamond at its Karowe Mine, is the source of this information. Some industry insiders, though, think this assessment may be low. Renowned diamond expert Fred Cuellar likened the value of diamonds to that of real estate, where the amount depends on comparable sales in the recent past. Given that a smaller diamond from the same mine sold for $63 million in 2016, Cuellar estimated that the diamond's potential value ranged from $100 million to $160 million.

ICC T20 World Cup match in New York between arch-rivals India and Pakistan has received a «satisfactory» rating from the governing body of the sport. The highly-anticipated match between these two arch-rivals at New York's Nassau County International Stadium was a low-scoring thriller. After being cleaned up for 119 runs, with Rishabh Pant scoring 42, Pakistan could manage only 113/7 in their quota of 20 overs, with Jasprit Bumrah bowling a game-changing spell of 3/14 in four overs. The drop-in pitches in New York were under scrutiny throughout the tournament because of low-scoring matches and uneven, unpredictable bounce. During the Sri-Lanka South Africa clash, SL could score only 77 runs in 19.1 overs and SA chased down the target in 16.2 overs.

Azerbaijan has formally applied to join the BRICS group of developing economies, a day after Russian leader Vladimir Putin’s visit to the oil-rich South Caucasus country to shore up regional ties and secure Moscow’s under-pressure trade routes

Qatar Airways has acquired a 25% stake in the private African carrier Airlink

Cricket Council (ICC) announced the match schedule on Sunday for the upcoming ICC U19 Women's T20 World Cup 2025 in Malaysia. Sixteen teams from around the world will take part in the 41-match event where the future stars of women's cricket will announce themselves over 15 days of competition from 18 January to 2 February 2025. Over and above these exciting matches will be 16 warm-up fixtures played from 13 to 16 January, in preparation for the main event, as per the ICC. The second edition of this exciting tournament comes on the back of a successful inauguration in South Africa in 2023 where India beat England by seven wickets in a thrilling final to be crowned the first-ever winners. It will also be the hosts, Malaysia's first appearance in the U19 Women's T20 World Cup as well as Samoa's first appearance in an ICC World Cup event.

Rugby Championship at Auckland's Eden Park on Saturday to avenge last week's shock loss to the Pumas in Wellington. Damian McKenzie, skipper Ardie Savea, Caleb Clarke, Will Jordan and Beauden Barrett all crossed to give the All Blacks a 35-3 lead at halftime despite teeming rain and strong winds at the spiritual home of New Zealand rugby. Jordan added his second try soon after the break to drive home the advantage but the Pumas managed to stem the flood of tries before scoring one of their own through Juan Cruz Mallia in the 72nd minute.

mpox across the continent. This week, the World Health Organisation (WHO) will hold a meeting to discuss a potential emergency declaration regarding mpox. This year, nearly 27,000 mpox cases have been reported in the Democratic Republic of the Congo (DRC), with around 1,100 deaths, many among children. Congo has been particularly hard hit, with over 96 percent of cases are concentrated in the DRC, with a 160% increase in cases and a 19% rise in deaths this year.

BCCI secretary Jay Shah on Wednesday visited TOI’s Mumbai office for an interaction. Apart from announcing former South Africa pacer Morne Morkel as team India’s new bowling coach, he also said that the board was not in favour of hosting pink ball tests because “they end in a couple of days.” «You buy a ticket for a five-day match, but the game ends in 2-3 days… There is no refund. I am slightly emotional about this,» Shah said on day-night Test matches.

digital transformation deals after about two years. The new contracts, however, contain cost-saving provisions. Several transformation deals announced by homegrown IT firms in the last 4-5 months have originated from the Nordic region. These include Infosys’ deal with Denmark’s TDC Net, a digital infrastructure and connectivity provider; HCLTech’s deal with Finland’s Oriola Corporation, a health and wellbeing company; and TCS’ multi-million-dollar contracts with digital connectivity and communications provider Nuuday and Ramboll—both from Denmark. Infosys and Wipro also secured deals from Sweden’s Ikea and Finland’s Nokia.

United Nations court on Wednesday to join South Africa's genocide lawsuit against Israel, a Turkish official said. The declaration of intervention will be submitted at the International Court of Justice in The Hague, the official said on condition of anonymity in accordance with regulations. Turkiye, one of the fiercest critics of Israel's actions in Gaza, will become the latest nation to seek to participate in the case. Turkish President Recep Tayyip Erdogan has frequently compared Israeli Prime Minister Benjamin Netanyahu to Adolf Hitler, accused his country of genocide, called for it to be punished in international courts and criticised Western nations for backing Israel.

Sheikh Hasina government. Throughout modern history, students have frequently played a pivotal role in regime changes or significant policy shifts. This trend is evident in numerous landmark protests across the globe, illustrating the power and influence of student movements. In the United States during the 1960s and early 1970s, student-led protests against the Vietnam War became iconic. Campuses across America saw teach-ins, sit-ins, and shutdowns to oppose the country's involvement in the war. These actions targeted both the Johnson and Nixon administrations, as well as companies like Dow Chemicals with ties to the conflict. Thousands of students burning their drafts ultimately turned public sentiment against the war, leading to the withdrawal of American troops by 1973. In South Africa, the Soweto Uprising of June 1976 showcased students' resistance against unequal education under Apartheid. Thousands marched in protest, only to be met with armed police, which triggered widespread anti-Apartheid protests and international condemnation of the regime. These demonstrations are credited with setting the stage for the eventual end of Apartheid.

Dinesh Karthik was on Monday appointed the league ambassador of the SA20 League. Karthik, who is the first Indian player to be associated with the South African tournament, retired from all forms of cricket earlier this year. «The league has been electric in the first two seasons with some of the world's best players on show and exciting young talent putting up their hands on the global stage,» Karthik was quoted as saying in a media release. «Karthik will be working very closely with fellow SA20 ambassador AB de Villiers and the management team to help strengthen the league's global fan base and reinforce brand awareness across key strategic markets in India and the United Kingdom,» the release added.

Russian navy started planned exercises involving most of its fleet as well as 20,000 personnel and 300 ships, Russian news agencies reported on Tuesday, citing the defence ministry.