Asset News Hub

2020-10-31 10:17:00.0

Exxon Mobil reports $680m loss on low oil prices

ExxonMobil reported another large quarterly loss Friday caused by a plunge in oil prices amid the pandemic downturn, that has prompted petroleum giants to slash spending and jobs. The US oil producer ...

2020-10-31 09:24:00.0

Trump TikTok restrictions blocked by judge in win for users

The social media platform TikTok says it plans to crack down on hateful speech following reports that Nazi and white supremacy-related content and comments have been found on the app. We talk to CNET...

by David Yaffe-Bellany.

2020-10-31 07:58:00.0

Jooste may dodge FSCA’s R161.6m fine for a while yet

It could be several years before former Steinhoff CEO Markus Jooste has to pay any of the hefty R161.6 million administrative fine, levied by the Financial Sector Conduct Authority (FSCA) for insider ...

by Ann Crotty.

2020-10-31 05:07:00.0

Competition Tribunal approves Comair rescue deal

South Africa’s Competition Tribunal on Friday approved a rescue deal for struggling airline Comair on condition that the carrier freezes job cuts for three years and investors allocate shares to a spe...

by Tanisha Heiberg.

KlikFlex Sports Flooring during this virus time!

Some construction projects have been delayed, and some canceled, as a result of the impacts of COVID-19 on the companies and governments that commissioned them, however KlikFlex has been working in fu...

Frankfurt begins construction of a US$590m hydrogen filling station for train fleet

RMV, a German regional transport group began construction recently of a hydrogen filling station just outside of Frankfurt that will use hydrogen generated as a by-product of chemical manufacturing to...

World’s longest rail tunnel faces setback.

The Alpine Brenner Pass from Austria to Italy that is going to be the world’s longest rail tunnel reportedly suffered a setback recently after the company managing and overseeing the site cancelled th...

Northern Europe’s largest solar farm to be constructed in Denmark.

European Energy, a renewables developer has announced that they will be constructing a US$158 million solar farm that has been dubbed as the “largest” installation of its kind in Denmark and entire No...

Disneyland Paris to construct one of the largest solar projects in Europe.

Disneyland announced recently that they would be constructing one of the largest solar projects in Europe. Construction began at the site in July of 2020 and is expected to be completed in about 3 ye...

US$20 billion petrochemical refinery complex construction launched, China.

A US$20 billion refinery and petrochemical complex in Shandong province, China, has officially been launched for construction. The province is apparently the home of several Chinese refiners accordin...

Burkina Faso awards contract for construction of Ouagadougou-Donsin international airport

The government of Burkina Faso has awarded a € 122 million contract for the execution of lot 2A of the construction works of the new Ouagadougou-Donsin international airport. The scope of the work in...

by patrick mulyungi -.

Government of Nigeria contemplates exporting electricity to Chad

The Federal Government of Nigeria is considering to supply electricity to the Republic of Chad. This is after the government of the latter embodied by its ambassador to Nigeria, Abakar Saleh Chachaim...

by patrick mulyungi -.

Cameroon-Congo: Studies for construction of Chollet hydroelectricity dam to begin in Q1 2021

The preliminary studies for the construction of the Chollet hydroelectricity dam are set to begin in the first quarter of this coming year. This has been reported following a recent videoconference m...

by patrick mulyungi -.

Belzona 1818 launched for emergency patch repairs in highly abrasive environments

Belzona Polymerics, one of the world leading providers of high-performance polymeric repair composites and protective coatings is excited to announce the launch of a new product to add to their compre...

by Pascal Musungu.

Construction of $100m Love Beach condominium Project likely to proceed after addressing contentio...

A planning team for a $100m Love Beach condominium project has expressed optimism that the project could pick up after contentious issues in the original design were addressed. In an update, Sean Mat...

by Lubwa Leonard.

Construction of new I-64 interchange to begin

Construction is set to begin on a diverging diamond interchange on U.S. 250 under I-64 interchange at exit 124. The project is set to start in December. The Pantops Community Advisory Committee rece...

by Lubwa Leonard.

2020-10-30 22:50:00.0

The real winner of the work-from-home economy

South Korea is in something of a sweet spot for the Covid-19 era. South Korea is in something of a sweet spot for the Covid-19 era. Neighbouring China, its biggest trading partner, is driving the glo...

by Daniel Moss.

2020-10-30 22:27:00.0

The messy, booming business of recycling cruise ships

It’s hard to gauge how exactly much money is made off of cruise ship recycling. Carnival Fantasy was a ship famous for its outlandish décor, all-night revelry and its size—back when 2 000 was an incre...

by Fran Golden.

2020-10-30 22:26:00.0

How viral song Jerusalema joined the ranks of South Africa’s greatest hits

There’s something seemingly novel about a song from South Africa going viral to the extent that the 2019 house music song Jerusalema has done in 2020. The song is performed by musician and producer M...

by Akhona Ndzuta.

2020-10-30 22:18:00.0

Do bankers really deserve more money right now?

Pay too little and you lose your stars; pay too much and you infuriate the public. Raising banker compensation in the midst of a pandemic isn’t the best look. But this is the dilemma facing Wall Stre...

by Marcus Ashworth.

by Laura Millan Lombrana.

2020-10-30 22:12:00.0

Africa is warming fast, and the most vulnerable are being hit hardest

The continent has already seen an increase in heatwaves, hot days and erratic rainfall patterns. The African continent is warming quickly, and climate change is expected to disproportionally affect ev...

by Vildana Hajric and Lu Wang.

2020-10-30 22:05:00.0

Megacap tech disappoints market where nothing’s good enough

The latest sign sentiment is turning against ultra-expensive digital megacaps. Solid quarterly earnings from America’s biggest tech firms weren’t enough to keep investors from selling late Thursday, t...

2020-10-30 22:03:00.0

Why a South African community mistrusts big industry

For most of the 20th century, manufacturing, mining and other industries in South Africa developed without many legal restrictions. This resulted in industrial risks such as environmental pollution, ...

by Llewellyn Leonard.

2020-10-30 18:21:00.0

Energy regulator to approve more than 1 MW licences without minister's approval

Individuals and companies who generate more than 1MW of power can now apply to produce their own electricity, without the ministerial approval. NERSA said Mantashe actually gave his approval on 1 Febr...

by Londiwe Buthelezi.

2020-10-30 16:49:00.0

WATCH | Instagram pauses 'recent' search listings

Facebook Inc's Instagram said on Thursday it was making changes to its image sharing platform for U.S. users to prevent the spread of misinformation surrounding the Nov. 3 presidential election. In ti...

2020-10-30 16:13:00.0

Comair merger gets green light, and the airline could be flying again by December

The Competition Tribunal has given its approval to a deal that could see the airline take to the skies by 1 December. Approval is conditional, however - the merger parties may not retrench any employe...

by Londiwe Buthelezi.

2020-10-30 15:23:00.0

Trade stats shows domestic recession keeps imports low

A recovery in commodity prices and global demand saw SA record a trade surplus of R109.5 billion for the third quarter of the year, according to an economist. The SA Revenue Service on Friday released...

by Lameez Omarjee.

2020-10-30 14:39:00.0

Apple shares decline after iPhone sales miss, China drops 29%

The stock, which had gained 57% this year before earnings were released late Thursday, tumbled to a low of $108.85. Apple shares fell as much as 5.6% Friday after the company reported iPhone sales tha...

by Mark Gurman.

2020-10-30 14:33:00.0

US stocks open lower amid anxiety over Covid-19, election

Wall Street stocks resumed their downward trend Friday on worries about rising coronavirus cases and the upcoming US presidential election. The drop also followed a trove of earnings from technology h...

2020-10-30 14:15:00.0

Twitter falls on paltry gains in new users in third quarter

Twitter shares tumbled 18% Friday after the company reported far fewer new users in the quarter than analysts had estimated, dashing optimism that the social network would benefit from a return of liv...

by Kurt Wagner.

2020-10-30 12:58:00.0

Eskom made a R20.5bn loss in 2020 financial year

South African state power utility Eskom on Friday said it made a net loss of R20.5 billion in its financial year ending in March 2020, down from R20.9 billion the previous year. But the company, which...

by Alexander Winning.

2020-10-30 12:43:00.0

JUST IN | Eskom posts R20.5 billion net loss

Eskom posted a net loss of R20.5 billion in the full 2020 financial year, the power utility announced on Friday, with Chief Executive Andre De Ruyter describing the results as disappointing amid capac...

by Sibongile Khumalo.

2020-10-30 10:58:00.0

WATCH | Sony seeing strong PS5 demand ahead of launch

Most of the video game community has been discussing the upcoming release of Microsoft and Sony's next-gen consoles later this year. In times of uncertainty you need journalism you can trust. For onl...

2020-10-30 10:45:00.0

MTN fetches R2.3 billion from sale of Jumia stake

MTN has been offloading some of its non-core assets to focus on is African mobile telecommunication markets. The company also plans to sell its Middle East market and a stake in Iran's ride-hailing bu...

by Sibongile Khumalo.

by Olivia Kumwenda-Mtambo.

2020-10-30 10:25:00.0

Budget lacks detail on reform implementation: Moody’s

South Africa’s budget lacks detail on how and when the government will implement policies to boost economic growth, ratings agency Moody’s said, so public debt will likely continue to increase for yea...

2020-10-30 10:22:00.0

DA to end leadership limbo

South Africa’s main opposition Democratic Alliance will elect a new leader this weekend with John Steenhuisen, who’s been acting in the position for the past year, looking set to head the party into n...

by S'thembile Cele.

2020-10-30 10:06:00.0

Hong Kong stocks end week sharply lower

Hong Kong shares tumbled Friday at the end of a torrid week for global markets, with a surge in virus infections in Europe and the US fanning worries about the economic recovery. The Hang Seng Index f...

2020-10-30 10:00:00.0

Prosus to buy back up to US$5 billion of Naspers shares, own stock

The board of Prosus intends to acquire up to US$5 billion in total of Naspers and Prosus shares on the open market. The global consumer internet company intends to launch the purchase following the re...

by Carin Smith.

2020-10-30 09:58:00.0

Asian markets drop again as election jitters set in

Asian markets tumbled Friday with investors spooked by soaring virus cases in Europe and the United States that have forced fresh lockdowns, while uncertainty ahead of next week's US election was also...

2020-10-30 09:46:00.0

European stock markets drop at open

Europe's major stock markets sank on Friday, extending this week's sharp losses, with investors spooked by soaring coronavirus cases that have forced fresh lockdowns and tighter restrictions. In initi...

2020-10-30 09:39:41.681

Spear to dispose of hospitality assets to achieve targeted LTV band

Spear REIT Limited has declared an interim distribution of 29.34 cents per share for the six months ending on the 31st of August 2020 in the company’s recent interim financial results. Operating in on...

2020-10-30 08:56:00.0

FSCA fines Markus Jooste, three others around R241m

Former Steinhoff chief executive Markus Jooste and three of his associates have been fined R241 million by South Africa’s Financial Sector Conduct Authority (FSCA) for insider trading, the regulator s...

by Mfuneko Toyana.

2020-10-30 08:54:00.0

SA stocks extend drop as miners, banks counter Prosus

South Africa’s main stock index dropped for a fifth consecutive day Friday, falling 0.6% by 10:06 a.m. in Johannesburg, as gains in index giant Naspers and its subsidiary Prosus NV failed to overcome ...

by Adelaide Changole.

2020-10-30 08:35:00.0

Disgraced former Steinhoff CEO Markus Jooste fined R122 million for insider trading

Former Steinhoff chief executive Markus Jooste has been fined R122 million by the Financial Sector Conduct Authority for insider trading. This comes 10 days after the Johannesburg stock exchange fined...

by Lameez Omarjee.

2020-10-30 08:12:40.0

Proposed Ultra Modern Station, Kajiado

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2020-10-30 08:12:34.0

Proposed Residential Unit, Nyangumi Rd

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2020-10-30 07:37:17.391

Housing deficit, Covid-19, recession – the way forward for Nigerian real estate

As a developing nation, the Nigerian real estate market continues to evolve at an impressive rate. This is owing to the growing concerns over Nigeria’s alarming population growth and the upward surge...