Sunday , December 15 2019
Breaking News
Home / International Customs / South Africa (page 30)

South Africa

Producer inflation moderates to 7%

JOHANNESBURG: Annual headline producer inflation moderated marginally for the second consecutive month to 7 percent in April from 7.1 percent in the prior month and probably contributed to the decision of the Reserve Bank to keep interest rates on hold at its May meeting. Market expectation was for a rise to 7.3 percent year on year. Headline inflation pulled back ... Read More »

South Africa poised for further growth in motor sector

CAPE TOWN: Having been in the automotive industry for some 30 years, I have experienced the good and the bad times. Being at the mercy of the economic gods comes with the territory. But through it all, we remain strong and vibrant. We are in a downturn. On the domestic front is low economic growth, a weak rand and high ... Read More »

South African wine exports to China jump by 30%

CAPE TOWN: Tycoon Koos Bekker sells wine from his vineyard all over the world, but a small detail offers a clue as to where his priorities may lie — all the bottles are labelled in Mandarin. Other producers along the Stellenbosch wine routes where his Babylonstoren farm is located are doing the same, looking to tap into soaring demand in ... Read More »

South Africa sets up LNG import unit

CAPE TOWN: South Africa has established a gas industrialisation unit for importing LNG to use as fuel for power generation. This move is aimed at reducing South Africa’s dependence on coal-fired power, the department of trade and industry deputy-director general Garth Strachan said at a presentation in Cape Town. The unit will initially focus on importing LNG and eventually seek ... Read More »

Uganda targets East Africa for exports

CAPE TOWN: A State agency has reported that Uganda plans to target east African markets for its export drive over the next five years. Executive director of the Uganda Export Promotion Board (UEPB), Elly Twineyo Kamugisha, said the country’s exports to the EAC were their single highest compared to other markets overseas. “Regional markets are getting bigger by the day,” ... Read More »

South Africa’s Tiger Brands reviews strategy

JOHANNESBURG: South Africa’s biggest consumer foods maker, Tiger Brands, pledged a sweeping overhaul of its operations on Tuesday, after a botched investment in Nigeria and mounting difficulties in its home and exports markets force a re-think. New chief executive Lawrence MacDougall, who is just two weeks into the job, faces shrinking demand in African export markets such as Nigeria and ... Read More »

South Africa contributes 36% of Zimbabwe’s import bill

CAPE TOWN: Zimbabwe imported 36% of its US$1,328 billion import bill from South Africa; latest figures from the Ministry of Finance and Economic Development have shown. According to the country’s first quarter bulletin released early this week, Zimbabwe imported US$1,328billion worth of goods in the first quarter an 11% decrease from imports of US$1,493 billion recorded in the corresponding period. ... Read More »

S. Korea increases oil imports from Africa

SEOUL: South Korea is increasingly bringing in African crude oil, as its prices have become more attractive due to competition with shale gas, refiners here said. Seoul imported 9.6 million barrels of African crude oil and “condensate,” a type of ultra-light crude, in the first quarter of this year. Annual imports of African oil have been on a steady increase ... Read More »

Chicken imports pressure SA’s poultry industry

JOHANNESBURG: Cheap poultry imports and rising feed costs due to the drought have put the South African poultry industry under tremendous pressure, threatening growth and jobs. Local listed companies, such as Astral Foods, face stiff competition from cheap poultry imports. Astral chief executive Chris Schutte said it was becoming more difficult to compete with foreign companies because they charged lower prices ... Read More »

South African fruit exporter in liquidation

CAPE TOWN: Lonrho Fresh, the South African fresh produce exporter, has gone into liquidation. A number of issues have plagued the company; such as South Africa experiencing its worst recorded drought, which made it difficult for Lonrho to provide quality produce, as well as the loss of its main customer. Lonrho’s executive chairman Christopher Chambers explained, “Despite considerable resources invested ... Read More »

Indonesia expands market in South Africa

JAKARTA: The Indonesia Trade Promotion Center (ITPC) Johannesburg has been making efforts to expand the market for the countrys products in South Africa. In this context, it recently held a meeting with the Muslim business community in South Africa. “The Minara Chamber of Commerce is known as the biggest Muslim business community in Durban. We have established closer communication to promote ... Read More »

SA bulk exports increase YOY in April by 6.2%

CAPE TOWN: SA’s BULK export volumes rose 6.2% year on year in April to the second-highest monthly total to date, of 16.2-million tonnes, data from the Transnet National Ports Authority showed on Thursday. The record monthly tonnage of 16.4-million tonnes was achieved in January 2015. The April year-on-year increase was the first year-on-year rise in 2016 after declines of 11.7%, ... Read More »

South Africa buys most U.S. wheat since 2011

CAPE TOWN: South Africa made its biggest purchase of U.S. wheat in nearly five years last week, U.S. Department of Agriculture data showed on Thursday, as drought reduced African grain output and low prices made U.S. supplies attractive in global markets. USDA said South Africa bought 45,000 tonnes of hard red winter wheat, a variety used primarily for milling bread ... Read More »

SA’s inflation slows in April to 6.2% from 6.3%

JOHANNESBURG: Headline inflation slowed in April to 6.2 percent from 6.3 percent in the prior month, giving rise to hopes this may lead to a pause in the Reserve Bank’s tightening cycle today. The central bank has raised its benchmark rate by 100 basis points in its last three meetings to 7 percent. It has stressed its mandate to protect price ... Read More »

Dairibord Holdings revenue declines 6%

CAPE TOWN: Dairibord Holdings revenue for the four months to April 2016 declined 6 percent due to lower average selling prices despite volumes increasing 6 percent on prior year same period comparable. Chief executive Anthony Mandiwanza in a trading update at the company’s annual general meeting yesterday said volume growth at 6 percent was in line with projections while revenue was ... Read More »

South Africa consumer inflation slows to 6.2% in April

JOHANNESBURG: Statistics South Africa (Stats SA) says consumer inflation slowed to 6.2 percent in April from 6.3 percent in March. Core inflation, which excludes the prices of food, non-alcoholic beverages, petrol and energy, was at 5.5 percent from 5.4 percent in the previous month. Citibank South Africa economist Gina Schoeman says the dip is welcome, but the country’s not out of ... Read More »

Zuma’s visit to boost South Africa’s Qatar ties

CAPE TOWN: Qatar and South Africa have distinct ties through years of co-operation and common interests. Qatari-South African relations have grown significantly over recent years and have become more diverse, noticeably in trade. President Jacob Zuma’s visit to Doha in 2012 had its impact in advancing bilateral relations  to new prospects with the signing of a number of agreements in ... Read More »

South Africa sets up LNG import unit for gas-to-power program

CAPE TOWN: South Africa is creating a unit to import liquefied natural gas for power plants as suppliers including Cheniere Energy Inc. await fuel tenders for annual shipments of at least 3 million tons. The Gas Industrialization Unit will initially focus on importing LNG as South Africa seeks to reduce its dependence on coal-fired power, Garth Strachan, a deputy-director general ... Read More »

South Africa’s poultry imports destructive

JOHANNESBURG: Poultry producer Astral warned that cheap imports coming into the country threatened to destroy South Africa’s poultry industry. The group said its operating profit dropped 22 percent to R429 million, down from R550m for the six months to March as a result of the imports. Chief executive Chris Schutte said yesterday that the outlook for the business was not ... Read More »

South Africa’s Vodacom FY earnings rise 2.7%

JOHANNESBURG: South African mobile phone operator Vodacom reported a 2.7 percent increase in full-year earnings on Monday, buoyed by growth in data revenue. The South African unit of Britain’s Vodafone has spent billions to expand its network in recent years with a strong focus on providing faster internet to its customers as more of them get smartphones. “The acceleration in ... Read More »