Sales of luxury goods grew at a lower rate than expected as China continues to clamp down on the use of watches and jewellery as bribes.
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Renaissance Securities Holdings has agreed to buy South Africa’s Barnard Jacobs Melllet Securities for R207-million.
Russian private investment bank Renaissance Capital is in the midst of a sweeping expansion into the resource sector in Africa.
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/ 12 December 2008
Nigeria’s Supreme Court upheld the election of President Umaru Yar’Adua on Friday, giving him the mandate to lead Africa’s most populous nation.
Zimbabwean leader Robert Mugabe accepted that the opposition’s Morgan Tsvangirai won more votes in the presidential election and will contest a run-off in a political battle that has raised fears of bloodshed. Tsvangirai’s Movement for Democratic Change (MDC) cried foul after Zimbabwe’s electoral body announced on Friday that he had won 47,9% of the vote
Russia and Ukraine slid towards a new gas war on Tuesday as Moscow slashed supplies to the ex-Soviet republic by 50% and Ukraine’s state gas company said it may cut deliveries to Europe. Russian gas monopoly Gazprom was to cut supplies to 50% of their normal level on Tuesday at 5pm GMT, doubling a 25% cut already in force since Monday.