South Africa Financial News

29.07 / 14:25

FIVE Inside ICC inspects venues at Bengaluru, Chennai, Thiruvananthapuram ahead of World Cup

World Cup, an inspection team from the International Cricket Council is checking the readiness of venues that will host the quadrennial extravaganza in October-November this year. The ICC team, which is currently at the Narendra Modi Stadium in Ahmedabad, has paid a visit to three venues in South — Bengaluru, Chennai and Thiruvananthapuram, where practice matches will be held — and the Wankhede Stadium in Mumbai. The reconnaissance unit dropped in at the M Chinnaswamy Stadium here on July 28, and expressed their satisfaction over the facilities.

29.07 / 01:49

CBDC Digital Cooper Citizens country Russian Bailiffs ‘Will Be Allowed to Seize Digital Rubles from Citizens & Firms’

Russian bailiffs will be allowed to seize digital rubles from citizens, a government chief has confirmed – as the nation readies a “real-world” CBDC pilot.

28.07 / 21:21

Provident Action exclusive Netball World Cup 2023 begins today. Know how to watch, participating teams and more

Netball World Cup 2023 begins this Friday i.e. July 28 and sixteen teams are ready to hit the court in Cape Town. It will run through August 6 (Sunday).

28.07 / 17:23

Provident Waters Aware Google Landmark Apple Align Cape Cod emerges as one of world's largest hotspots for White Sharks, landmark study reveals

Cape Cod as a prominent global destination for great white sharks. In a first-of-its-kind research endeavor, the team estimated that approximately 800 white sharks ventured into Cape waters between 2015 and 2018, marking a significant revelation for North Atlantic Ocean scientists.

28.07 / 13:33

UPS Provident BLOCK Fighting Assurant Continental country Putin woos African leaders at a summit in Russia with promises of expanding trade and other ties

Russian President Vladimir Putin is courting leaders from Africa at a summit, hailing the continent’s growing role in global affairs and offering to expand political and business ties

28.07 / 07:49

UPS Arrow love star How this Wallabies star is planning a ‘soft exit’

Wallabies captain Michael Hooper isn’t retiring – yet.

28.07 / 07:19

UPS FIVE BLOCK Progressive country China's bid to enlarge BRICS membership hits roadblocks

BRICS group of emerging markets to grow its political clout and counter the US, officials with knowledge of the matter said. The countries have raised objections in preparatory talks for a summit in Johannesburg next month where Brazil, Russia, India, China and South Africa will discuss potentially expanding the group to include Indonesia and Saudi Arabia. China has repeatedly lobbied for expansion during those meetings, said the officials, who asked not to be identified as the discussions are private.

27.07 / 19:25

NIC Pool love show star exclusive Eddie Jones: Union to take on league in rugby heartland

Coach Eddie Jones isn’t just taking on the world when the Wallabies compete for the Rugby Union World Cup in France in September. He’s also planning to take on rival football codes here in Australia by poaching even more talent from rugby league.

27.07 / 04:39

COST Provident Target Manufacturing performer track share price Cipla share price jumps over 8% after robust Q1 performance; brokerages raise target price

Cipla share price rallied more than 8% in the early trade on Thursday after the pharma company reported robust earnings for the first quarter of FY24. Cipla shares jumped as much as 8.82% to ₹1,163.00 on the BSE. Drug major Cipla posted a 45.1% rise in its consolidated net profit in Q1FY24 at ₹995.7 crore as compared to ₹696.4 crore in the corresponding quarter of the last year.

27.07 / 02:01

COST Lowe's country US urges African leaders to confront Vladimir Putin on grain disruptions

State Antony Blinken on Thursday pressed African leaders attending a summit with Russia's Vladimir Putin to demand answers about a grain crisis that has propelled poorer nations towards crisis. Speaking ahead of a Russia-Africa sitdown in Putin's hometown of Saint Petersburg, Blinken insisted African leaders knew rising food costs, grain and fertiliser shortages were a direct result of Putin's war in Ukraine. Several African leaders including South African President Cyril Ramaphosa are expected to attend the Konstantinovsky Palace summit.

26.07 / 15:23

COST UPS CEO EBITDA end Cipla Q1 Results: Net profit jumps 45% YoY, to end FY24 with 23.5% EBITDA margins

Cipla said it is confident about ending FY24, with 23-23.5% earnings before interest, tax, depreciation and ammortisation (EBITDA) margins and 10% odd revenue growth, led by robust sales growth across key geographies of US, India and South Africa. The company also said it is seeing stabilisation of price erosion in the US market along with moderation of logistics and raw material costs to boost margins. The company said in the US market it will maintain a quarterly revenue rate of $210-$215 million for US business.

26.07 / 11:24

Digital Progressive performer Cipla Q1 results: Net profit rises 45% YoY to ₹996 crore; US business posts highest ever revenue of $222 million

Cipla reported a 45.1% rise in its consolidated net profit for the quarter ended June 2023 at ₹995.7 crore as compared to ₹696.4 crore in the corresponding quarter of the last year. The drug major’s revenue in Q1FY24 increased 17.7% to ₹6,328.9 crore from ₹5,375.2 crore, YoY, driven by performance in India, US & South Africa. The company’s US business reported the highest ever revenue of $ 222 million, registering a growth of 43% YoY growth driven by robust momentum in differentiated portfolios.

26.07 / 08:21

Blockchain Cooper Waters Remark Actor country nsa ‘BRICS can work on listing terrorist outfits under UN counter-terrorism sanctions regime,’ says NSA Ajit Doval

BRICS group (Brazil, Russia, India, China, and South Africa) should collaborate in the effort to list terrorists and their proxies under the UN counter-terrorism sanctions regime. However, NSA emphasized the importance of conducting this process without any involvement of politics or biased standards. In essence, he urged for a fair and impartial approach to counter-terrorism measures within the BRICS nations.

26.07 / 04:27

business Government Adoption regulation Central Bank Namibia signs crypto exchange regulation bill into law

The Namibian Government officially signed a law to regulate Virtual Asset Service Providers operating in the country last week, reversing its original 2017 decision to ban cryptocurrency exchanges.

26.07 / 00:53

MET Action country Russian President Putin to forge closer ties with China during upcoming October visit

Belt and Road Initiative involves infrastructure projects to connect Asia with European and African countries. Ushakov said Putin also plans to travel to Turkey at some point to fulfill a promise to Turkish President Recep Tayyip Erdogan, although the dates for that visit have not been decided yet. In addition, the Kremin received an invitation for Putin to participate in a Group of 20 summit in India in September, he said.

25.07 / 22:37

MET country nsa NSA Doval meets with top Chinese diplomat Wang Yi in South Africa

National Security Adviser Ajit Doval met with China’s top foreign policy official Wang Yi on the sidelines of the BRICS NSAs’ Meeting in South Africa on Monday. Wang Yi, who serves as Director of the CPC Foreign Affairs Commission, is China’s seniormost diplomat. “During the meeting, NSA conveyed that the situation along the LAC in the Western Sector of the India-China boundary since 2020 had eroded strategic trust and the public and political basis of the relationship.

25.07 / 16:35

Blockchain BLOCK Waters Actor country voice cover nsa committee NSA Doval’s message to China: Depoliticise UNSC sanctions committee

NSA participated in the 13th BRICS NSA meeting in Johannesburg on Tuesday and in message for China affirmed that that the “decision making of the UNSC sanctions committee is free from politicization and double standards”. “Terrorism remains one of the key threats to the national peace and security. Terror organizations in the Af-Pak region continue to operate with impunity.

25.07 / 12:41

UBS Credit Suisse sued for $100m by hedge fund over margin call

Credit Suisse has been hit with a claim for more than $100m by South African hedge fund M1, which has accused the bank of making a wrongful margin call.

25.07 / 11:19

MET Remark country nsa LAC situation ‘eroded strategic trust’: NSA Ajit Doval tells China's Wang Yi

Brics (Brazil-Russia-India-China-South Africa) grouping in Johannesburg late on Monday, Doval conveyed India’s position, reported Hindustan Times. The meeting between Doval and Wang came a little more than 10 days after external affairs minister S Jaishankar met Wang on the sidelines of Asean-related meetings in Jakarta on 14 July. Both discussed the border row, which has taken India-China relations to their lowest point in six decades.

25.07 / 10:15

UPS De Beers delivers first production from $2.2 billion underground mine

(Reuters) — Global diamond giant De Beers on Tuesday reported its first production from its new $2.2 billion underground operations at Venetia mine in South Africa.

25.07 / 05:49

MET Career country nsa India-China ties: NSA Ajit Doval discusses bilateral ties with top Chinese diplomat Wang

BRICS meeting in South Africa on Monday, according to a statement issued by the Ministry of External Affairs. During the meeting, NSA conveyed that the situation along the LAC in the Western Sector of the India-China boundary since 2020 has eroded strategic trust and the public and political basis of the relationship, the statement read.

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