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BusinessLIVE - For Your Ear

Listen to the latest BusinessLIVE articles from the news desk of Business Day, Financial Mail and the Business Times.

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Daily English South Africa Business News · News
12,931 Episodes
468 – 488

Iranian musician under house arrest for allowing women to dance in his videos

Amman — Iranian musician Mehdi Rajabian has said he is under house arrest as he awaits trial for working with female dancers and singers, in the country’s latest move to stop female artists performing. Rajabian said he was arrested on August 10 following media reports that his latest project will…
28 Aug 2020 6AM 3 min

World stocks lack direction after US Fed’s lack of guidance

London — Stock markets struggled for direction on Friday as investors worried about a lack of detail in the US Federal Reserve’s policy shift while Japanese markets were roiled as Prime Minister Abe Shinzo resigned for health reasons. The Fed’s widely awaited shift in its policy framework, unveiled on Thursday,…
28 Aug 2020 5AM 3 min

Oil prices fall as downgraded Laura misses refineries

London — Oil prices fell on Friday as storm Laura raced inland past the heart of the US oil industry in Louisiana and Texas without causing any widespread damage to refineries. Brent crude futures for October, set to expire on Friday, had fallen 19c to $44.90 a barrel by 8.15am…
28 Aug 2020 5AM 2 min

Aliko Dangote to build huge oil refinery in Nigeria

Abuja/Johannesburg — On a peninsula east of Lagos, 30,000 workers are employed on a project that holds out the promise of transforming Nigeria’s economic fortunes. It’s here that Aliko Dangote, Africa’s richest man, plans to spend more than his net worth of $13.5bn building one of the world’s biggest oil…
28 Aug 2020 5AM 5 min

S&P hits an all-time high – what does this mean for SA?

We are almost through August – roughly seven months since the seemingly remote tremor in Wuhan resulted in the Covid-19 tsunami that would rip through global equity markets just weeks later. Much like the tragic sequence of events that follows an actual tsunami, the only investors that would escape the…
28 Aug 2020 5AM 11 min

How Trump oversold his economic success

Economies have a stubborn habit of not co-operating with political narratives. At the start of the year, the gaggle of Democrats running for president wanted very badly for “President Trump’s economy” to be failing most Americans. The economic data, and most Americans themselves, said otherwise. Now that the coronavirus has…
28 Aug 2020 5AM 3 min

New Zealand calls in spy agency amid cyber attacks on bourse

Wellington — New Zealand called in its spy agency and activated security crisis plans to help defend the stock exchange from overseas attack, after hackers disrupted the market for a fourth straight day. “We as a government are treating this very seriously,” finance minister Grant Robertson said on Friday, adding…
28 Aug 2020 3AM 4 min

Japan bourse falls on reports Abe set to resign

Tokyo — Japanese Prime Minister Shinzo Abe, the nation’s longest serving premier, is set to resign due to his worsening health, a source close to a ruling party official said on Friday, sparking a slide in Tokyo stock prices and a rise in the yen. “The resignation is a done…
28 Aug 2020 3AM 3 min

Asian markets are mixed after US inflation policy shift

Tokyo/Washington — Longer-dated Treasury yields and the dollar rose in Asia on Friday after the US Federal Reserve shifted its policy framework to place more emphasis on boosting economic growth and less on worries about letting inflation run too high. The 10-year US treasury yield rose to 0.7870%, the highest…
28 Aug 2020 2AM 3 min

Gold edges higher amid rising US Treasury yields

Bengaluru — Gold rose on Friday, having declined more than 1% in the previous session, as persistent concerns over the pandemic-led economic slump boosted the metal’s appeal, though gains were restricted by a jump in US Treasury yields. Spot gold was up 0.4% at $1,936.64/oz by 3.16am GMT. US gold…
28 Aug 2020 1AM 2 min

Oil price falls as storm closes US refineries

Singapore — Oil prices fell on Friday as a huge storm raced inland past the heart of the US oil industry in Louisiana and Texas without causing any widespread damage to refineries. US West Texas Intermediate (WTI) crude futures were down 3c, or 0.1%, to $43.01 a barrel at 4.09am…
28 Aug 2020 1AM 2 min

JSE faces mixed Asian markets on Friday after Fed policy stance

The JSE faces mixed Asian markets on Friday morning, with investors digesting a policy shift from the US Federal Reserve. Fed chair Jerome Powell indicated the world’s largest central bank is willing to let inflation run a little bit above its 2% target to support the economy. However, this remains…
28 Aug 2020 12AM 1 min

Revealed: what doctors advised Mkhize about taxis, the lockdown and schools

Months before the economy was finally opened two weeks ago, scientists were advising the government on the harm of the lockdown, the collateral health damage and how irrational regulations could backfire. The ministerial advisory committee (MAC), a group of world-class scientists, has given the government advice on how to manage…
27 Aug 2020 5PM 5 min

TELITA SNYCKERS: The IMF: imperialist suffocator, or business rescue practitioner?

As FM editor Rob Rose recently pointed out (../2020-08-24-rob-rose-like-it-or-not-sa-lurches-towards-imf/), like it or not, SA is lurching towards a clumsy embrace with the International Monetary Fund (IMF), hot on the heels of a Covid-linked loan. The ANC has long been wary of the IMF. After Nelson Mandela came to power, he…
27 Aug 2020 5PM 5 min

SHIRLEY DE VILLIERS: Why SA needn’t fear reinfection - maybe

Another week, another coronavirus curveball. On Monday scientists announced the first confirmed case of Covid reinfection: a 33-year-old man returning to Hong Kong from Spain had tested positive for the virus, 41⁄2 months after his first bout with Covid-19. Within days, that finding was echoed in Belgium and the Netherlands…
27 Aug 2020 4PM 6 min

Mali coup leaders release ousted president Keita

Bamako — Coup leaders in Mali have released ousted president Ibrahim Boubacar Keita and he has returned home, nine days after he was detained, his representative said on Thursday. A group of military officers has controlled Mali since August 18, when they detained Keita at gunpoint and forced him to…
27 Aug 2020 3PM 2 min

Malawi to lift Covid-19 international air travel restrictions from September

Blantyre — Malawi will allow airlines and schools to resume operations from September 1, as it seeks to limit the economic and social damage from its coronavirus lockdown, authorities said on Thursday. Schools and airports have been closed since March, when the government imposed a lockdown to try to contain…
27 Aug 2020 2PM 1 min
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