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  • Johannesburg is the continent’s most visited city

    October 11, 2017 3:40 PM 12

    Johannesburg was the continent’s most visited city last year according to the Mastercard Global Destination Cities Index released on Tuesday. The City of Gold saw a 24% increase in international visitors in welcoming 4,57 million tourists, up from 3,69 million visitors the previous year. Cape Town claimed second place with 1,52 million visitors, an improvement

  • Worldwide PC shipments continue to fall

    October 11, 2017 9:26 AM 16

    Enterprise demand is stable, but SMB market vulnerable to price rises, warns Gartner Global PC shipments fell for the 12th straight quarter with weak back-to-school demand in the US blamed for the decline, according to new figures released by Gartner. The analyst outfit said that worldwide shipments equalled 67 million units for the quarter, indicating

  • IMF cuts India's growth forecast to 6.7 per cent: Outlook report puts China ahead in race for 2017

    October 11, 2017 7:14 AM 9

    The International Monetary Fund (IMF) on Tuesday slashed India's GDP growth forecast to 6.7 per cent for 2017 from 7.2 per cent predicted earlier due to "still lingering disruptions associated with the currency exchange initiative introduced in November 2016, as well as transition costs related to the launch of GST." The IMF, however, raised its current

  • After IMF, World Bank downgrades India's growth forecast

    October 11, 2017 7:14 AM 17

    A day after International Monetary Fund (IMF) lowered India's growth forecast, the World Bank on Wednesday said India's GDP may slow from 8.6 per cent in 2015 to 7.0 per cent in 2017 because of disruptions by demonetisation and the GST, the World Bank has forecast and warned that subdued private investment due to internal bottlenecks could put downside

  • IMF Risks Raining on Its Own Pretty Good Parade

    October 10, 2017 7:32 PM 16

    Nobody would ever accuse the International Monetary Fund of getting carried away. Just when we are getting used to the notion of a synchronized global expansion, the lender feels it has to pad its upgraded forecasts with some dampeners. It's almost as though there is too much good news. That's a pity. Muffling the good news under warnings and to-do lists

  • IMF forecasts stronger global growth

    October 10, 2017 1:00 PM 16

    The global economic recovery is strengthening, according to the International Monetary Fund (IMF). In its latest World Economic Outlook, the IMF has revised its forecast for the global economy and is now expecting slightly stronger growth. The IMF's forecast for the UK is the same as in its July report. It expects growth to slow from 1.8% in 2016 to 1.7% this year and to 1.5% in 2018. Although

  • World economic growth improving, even as U.S., UK potential slows: IMF

    October 10, 2017 1:00 PM 8

    WASHINGTON (Reuters) - The current broad-based global economic upswing will likely be sustained this year and next, the International Monetary Fund said on Tuesday, with gains in most of the world offsetting sluggish outcomes in the United States, Britain and India. The IMF upgraded its global economic growth forecast for 2017 by 0.1 percentage points

  • Dangote drops interest in acquiring PPC

    October 9, 2017 8:20 AM 16

    Nigeria-based cement company, Dangote Cement, has dropped out of the competition for South African rival, PPC. With Dangote’s withdrawal, two parties remain interested in PPC: Afrisam and an unnamed third party. Afrisam’s offer is backed by Canadian investment company, Fairfax Africa Investments Proprietary Ltd, a subsidiary of Fairfax Financial Holdings

  • MTN CEO position becomes vancant as Asante is promoted

    October 7, 2017 6:08 PM 17

    The Chief Executive Officer position of the country's leading mobile telecom network, MTN Ghana, has become vacant as Ebenezer Asante has been promoted. Over two years after heading the Ghana office, he is now the Vice President (VP) of MTN Group's altered Southern & East Africa and Ghana (SEAGHA) Region from October 1. A statement from the mobile network

  • Glencore pips Sinopec to buy Chevron's South African assets

    October 6, 2017 2:01 PM 26

    LONDON (Reuters) - Commodities trader and miner Glencore has swooped in to replace China’s Sinopec as the buyer of Chevron’s South African and Botswana assets after reaching a deal with local investors. In its statement on Friday, Glencore said it had agreed to buy Chevron’s 75 percent stake in its South African subsidiary and its Botswana interests