People try out Samsung Galaxy phones at the Samsung Electronics' headquarters in Seoul January 23, 2014. Samsung Electronics Co Ltd posted its first decline in quarterly profit in two years, hit by one-off special bonus as well as slowing smartphone sales as it braces for a year of tougher competition with rival Apple Inc.

Candy Crush Saga maker plans US stock listing

From Reuters STOCKHOLM, Feb 18 (Reuters) – King, the Swedish firm behind hit mobile phone game Candy Crush Saga, is planning a U.S. stock market debut which some analysts think could value it at more than $5 billion and herald a flurry of technology company listings this year. The successful flotation of Twitter in November and a … Read more

Apple cars: world’s next tech biggie after iPhone6?

From Reuters Feb 18 (Reuters) – Apple Inc is looking at cars and medical devices to diversify its sources of revenue as growth from iPhones and iPads slow, according to a San Francisco Chronicle report. Apple’s head of mergers and acquisitions, Adrian Perica, met with Tesla Motors Inc founder Elon Musk at the company’s headquarters last year around … Read more

Standard Bank tipped for gold price-setting role

From Reuters LONDON (Reuters) – South Africa‘s Standard Bank, now selling a controlling stake in its markets unit to China‘s ICBC, is emerging as a frontrunner to buy Deutsche Bank’s place in the global gold price-setting process, sources familiar with the matter said. A seat in the process – also known as the “fix” – to determine the … Read more

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BHP Billiton: Sizing up its investment potential

From Reuters By Clyde Russell LAUNCESTON, Australia, Feb 18 (Reuters) – For the past 18 months BHP Billiton and Rio Tinto have appeared like identical twins, singing the same tune on cutting back spending, controlling costs and returning more to shareholders. The latest financial results show the world’s two biggest diversified miners are finally hitting the right notes with … Read more

Kenya: juicy new tax breaks for foreign investors

From Reuters NAIROBI (Reuters) – Kenya is setting up three special economic zones that will offer tax breaks to lure global textile firms and help it seize a share of the West’s textile market now dominated by Asian rivals, the industry minister said. The east African nation of 40 million people has a fairly diversified economy and … Read more

SA’s R2.35bn government bond sales: bid details

From Reuters JOHANNESBURG (Reuters) – South Africa‘s Treasury sold a total of 2.35 billion rand of its 2023, 2030, 2036 government bonds on Tuesday. R2023 issue status: REOPENED Coupon: February 28, 2023 – 7.75 percent coupon Auction date 18/02/14 17/12/13 Best bid % 8.35 7.7 Worst bid % 8.75 7.95 Clearing yield % 8.49 7.79 Total … Read more

Better living conditions for miners, urges Gordhan

From SAPA Better living conditions are needed in the mining sector, which plays an important role in the economy, Finance Minister Pravin Gordhan said on Tuesday. “All of us need to do what we can to reintroduce stability… so that that part of the community can continue to create jobs, continue with investments… but also … Read more

Wednesday’s CPI could boost the rand: analyst

From Reuters JOHANNESBURG (Reuters) – South Africa‘s rand slipped against the dollar on Tuesday, down from its firmest levels in nearly a month. The rand was at 10.8625 to the dollar at 0611 GMT, down 0.4 percent from Monday’s New York close of 10.8200, which was the currency’s best showing since the end of January. It traded … Read more