SOUTH AFRICA

South Africa has taken measures to counter capital inflows but the rand is still overvalued, the country's finance minister said on Friday.

South Africa's Deputy President Kgalema Motlanthe said on Friday that hospitalized former president Nelson Mandela's health was improving and that there was no need to panic over his health, rubbishing speculation that the legendary leader was nearing his end.

Average annual base pay for the Class of 2010 in the US fell by just 0.7% from 2009, compared to a 3.6% fall in Canada and a 5.2% rise in Australia.

African economic growth is heading back to pre-crisis growth levels, propelled by strong demand for its resources and increased South-South investment, notably from China.

Former South African President Nelson Mandela was flown from Cape Town to Milipark Hospital early this week where apparently Routine tests were being conducted but a beeline of his relatives from grandchildren to great-grandchildren raised eye brows about the health of the 92-year-old anti-apartheid hero.

South Africa's rand firmed against the dollar on Thursday as the greenback lost a bit of ground while the bourse ended higher on mining shares' gains.

Africa should have a greater presence in the Group of 20 nations rather than be largely excluded and simply told how to run their economies, Botswana's central bank governor said on Thursday.

Air Mauritius will fly direct to China from July in a move it hopes will help boost tourism in the Indian Ocean island, which is suffering from the downturn in Europe.

Impala Platinum, the world's second-largest producer of the precious metal, said on Wednesday its first-half earnings likely increased by up to 65 percent, lifted by stronger sales and higher prices.

Mozambique's Ports Development Company (MPDC) said on Tuesday it would increase the handling capacity of its Maputo port to 12 million tonnes this year from 8.7 million in 2010 to take more coal from South Africa.

South African logistics group Transnet said on Tuesday it would reopen a coal export line leading to the Richards Bay coal export terminal at 1400 GMT after a derailment over the weekend.

International ratings agency Standard and Poor's upgraded South Africa's outlook to stable from negative on Tuesday, and said the country's external balance sheet would remain manageable.

Uganda President Yoweri Museveni is against the United Nations' recognition of Alassane Ouattara as winner of Ivory Coast's election and wants an African Union probe into the poll, his spokesman said on Tuesday.

Heavy rains in South Africa have so far cost the country's farming sector over 2 billion rand in damages, an industry official said on Tuesday.

Northeast Asia's booming economy and its largely untapped youth market are the cornerstone of South Korea's 2018 bid to host the first Winter Olympics in the region for 20 years, its bid chief said.

South Africa's rand firmed slightly against the dollar on Monday, recovering from near 8-week lows seen at the end of last week as the greenback wobbled and metal prices rose.

South Africa expects to seal a deal with buyers in Saudi Arabia and India for about 100,000 tonnes of its surplus maize before the end of February, a senior government official said on Monday.

Flooding in South Africa has killed more than 100 people over the last month, saturating farms in the major food producer for the continent and leading the government to declare 33 municipalities disaster areas.

With two major international sports events, 2014 World Cup and 2016 Olympic Games, scheduled to be held in Brazil in the next five years, it’s high time the country should improve its “substandard” tourism infrastructure, according to the Brazil Tourism Report Q1 2011, released recently.

South African government bonds sharply extended losses on Friday, a day after the central bank left interest rates unchanged and hinted it might have ended a cutting cycle as inflationary pressures rise.

South Africa's Reserve Bank left its repo rate steady at 5.5 percent as expected on Thursday, citing an improving economic outlook and sustained recovery in domestic consumption.