News

Elon Musk’s Tesla becomes most valuable automaker in latest stock rally

After several years of losses, Tesla has delivered three straight profitable quarters since the third quarter of 2019 and surprised investors with solid first-quarter deliveries despite the virus outbreak.

Zimbabwe suspends stock exchange, mobile payments over ‘economic sabotage’

HARARE (Reuters) - Zimbabwe on Friday suspended trade on the stock exchange and mobile phone-based payments to address what President Emmerson Mnangagwa’s...

Edcon creditors’ bid to halt restructuring meeting rejected by court – Reuters

The planned Monday afternoon meeting to consider the plan is going ahead according to schedule, the administrators said in a notice to affected parties. The meeting is still in session.

Op Ed: East African finance ministers to present budgets for new fiscal year

Finance ministers of East Africa are expected to table their respective budgets in coming days for the new financial year that begins on July 1.

Facebook holds on as TikTok invades Social Media in SA

South Africa’s largest annual study of social media trends has revealed that Facebook remains the social platform of choice for marketing – but TikTok is rising fast among both brands and consumers.

ArcelorMittal South Africa fined R3.64 million over hydrogen sulfide emissions

ArcelorMittal South Africa will pay a fine of 3.64 million rand ($219,658) relating to charges of exceeding hydrogen sulfide minimum emissions standards at its coke plant in 2016, it said on Wednesday.

Administrators propose sales plan for SA retailer Edcon, see potential job cuts

Administrators in charge of South Africa’s Edcon have proposed a sales process that may lead to job redundancies in “significant numbers”, after the retailer filed for a form of bankruptcy protection in April.

African Development Bank board stands by embattled President Adesina

The African Development Bank’s (AfDB) board on Thursday said it stood by an internal investigation that had cleared its president of improper conduct, but it would carry out an independent review of the report in the interest of due process.

President Buhari to AfDB President Adesina: “I’ll stand by you”

While hosting African Development Bank (AfDB) President Akinwumi Adesina on a courtesy visit at State House on Tuesday, Nigerian President Muhammadu Buhari said the country will support Adesina in his bid to get re-elected as President of the multilateral bank.

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