The World Bank chief Tuesday called for national governments to seek long-term debt curbs to solve the current sovereign debt crises in Europe and the United States, but said it was too early for special action by the Group of 20 nations.
The World Bank called for national governments to seek long-term debt curbs on Tuesday to solve the current sovereign debt crises in Europe and the United States, but said it was too early for special action by the Group of 20 nations.
South Africa is in the midst of a massive waves of strikes by tens of thousands of workers across many industries which threaten to paralyze the national economy.
More than 200,000 South African municipal workers walked off the job on Monday, a trade union said, in a strike which intensifies labour strife that has rocked Africa's biggest economy.
Tanzania plans to conclude negotiations with mining companies early next month to allow the government to raise royalty payments on gold exports to 4 percent from 3 percent.
Harmony Gold, the world's fifth largest gold producer, reported a 67 percent drop in quarterly profits that fell short of market expectations as power rates and the costs of a troubled asset it recently bought took a bite from its earnings.
British finance minister George Osborne is recruiting international support for his unyielding stance on deficit cutting, the Financial Times said on Monday.
Visitor arrivals to Mauritius rose by 1.3 percent between in July from a year earlier, buoyed by an increase in tourists from China and South Africa, the government said on Friday.
South Africa's rand steadied against the dollar on Friday but faced further losses after a turbulent week in which it hit its weakest levels in more than a year as investors spooked by debt woes in the U.S. and Europe fled to safer havens like the yen.
The ruling African National Congress estimated that the initial costs to establish the health care program at 128 billion rand ($18 billion).
Syrian forces killed at least five people in an assault on two northern towns on Thursday, activists said, pursuing a military campaign to crush protests against President Bashar al-Assad despite new U.S. sanctions and regional calls to end bloodshed.
South Africa's government would act to shield the local economy against the impact of a new global recession, Finance Minister Pravin Gordhan said on Thursday, as data pointed to a slowdown in factory output in the second quarter.
The Tanzanian government said it is committed to wiping out sexual abuse and rape of children.
AngloGold Ashanti , Africa's biggest gold producer, said on Thursday that a worker was killed at its Mponeng mine in South Africa after a seismic event, bringing mining operations to a halt in the affected area.
Gold is set to widen its premium over platinum after hitting parity for the first time in 2-1/2 years this week, with no end yet in sight to the potent cocktail of fear factors that are benefiting safe havens at the expense of cyclical assets.
Gloomy comments from South Africa's central bank on the impact of global financial turmoil on the country's capital formation, key to growth, were the backdrop to a fall in bond yields and a volatile day for the rand, which ended down against the dollar.
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The foreign minister of Turkey Ahmet Davutoglu has arrived in Syria to convince President Bashar al-Assad to halt his regime?s brutal crackdown against anti-government protesters.
Rioting and looting spread across London on Monday as hooded youths set buildings and cars ablaze, smashed shop windows and hurled bottles and stones at police in a third night of violence in Britain's worst unrest in decades.
South Africa's Reserve Bank sees no reason at this stage to make any significant changes in the make up of its foreign currency reserves, the Bank said on Monday, after Nigeria and Mauritius announced plans to diversify their own holdings.
S.Africa's rand and stocks fell to multi-month lows on Monday as investors dumping risk hammered everything from resource firms to banks after the downgrade of the U.S. credit rating prompted a sell-off.
South Africa's ruling ANC put off discussions planned for Monday to bring its Youth League leader Julius Malema to heel after the populist politician angered the party by calling for nationalisation of mines and meddling in foreign affairs.
