Africa
MTN Full-Year Profit Falls 4% as Rand Gains Cuts Income From Other Markets MTN Group Ltd., Africa’s largest
mobile-phone operator, said full-year profit fell after South
Africa’s rand gained, reducing income it earns from abroad when
converted back into the local currency.
Kumba In Talks With Ministry About ArcelorMittal SA's Sishen Mining Rights Kumba Iron Ore Ltd. said it’s in
talks with South Africa’s Department of Mineral Resources about
ArcelorMittal South Africa Ltd.’s mining rights in the country’s
Sishen mine.
Sanlam Full-Year Profit Doubles After South African Stock Market Rebounds Sanlam Ltd., the largest South
African-based insurer, said full-year profit more than doubled
as equities on Johannesburg’s stock exchange rebounded.
RMB AM Sells Platinum Holdings, Favors Diversified Miners, McCurrie Says RMB Asset Management sold platinum-
stock holdings over the last two months in favor of shares in
diversified mining companies such as BHP Billiton Ltd., Wayne
McCurrie, an asset manager, said by phone from Johannesburg
today.
Old Mutual Resumes Dividend Payment, Plans to Sell Unprofitable U.S. Unit Old Mutual Plc, the biggest
insurer in Africa, may sell some U.S. assets to reduce debt
after posting a loss for 2009.
South African Trade Minister Says He's Not Taking Sides in Steel Dispute South African Trade Minister Rob
Davies said he is not taking sides in a dispute between
ArcelorMittal South Africa Ltd. and Kumba Iron Ore Ltd.
South African Stocks, Such as AngloGold, MTN, Sanlam Drop; Investec Gains South Africa’s FTSE/JSE Africa All
Share Index slid 15.59, or 0.1 percent, to 28,072.08 by 10:35
a.m. in Johannesburg, paring yesterday’s 0.7 percent drop.
Malawi's Minimum Tobacco Price Cut by 7%, Tobacco Control Commission Says The minimum price paid to tobacco
producers in Malawi, Africa’s largest producer of the burley
variety, has been reduced by 7 percent as the cost of producing
the leaf fell, the Tobacco Control Commission said.
Kenya Pension Fund, Government to Sell Shares in National Bank This Year Kenya’s state pension fund and the
government will complete the sale of shares in National Bank of
Kenya Ltd. by December, Managing Director Reuben Marambii told
reporters today in Nairobi, the capital.
Arab League's Moussa Says Abbas Pulling Out of Indirect Talks, Ynet Says Arab League Secretary General Amre
Moussa said that Palestinian Authority President Mahmoud Abbas
would not take part in indirect peace talks with Israel at this
time in reaction to its approval of new building in East
Jerusalem, Ynet said, quoting statements Moussa made last night
in Cairo.
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