4 months ago

New Era Newspaper Wednesday January 31, 2018

  • Text
  • Windhoek
  • Namibia
  • January
  • African
  • Learners
  • Institutions
  • Kavekotora
  • Katutura
  • Licence
  • February

10 Inside BUSINESS

10 Inside BUSINESS Wednesday, January 31 2018 | NEW ERA American companies see a booming China that may not want them BEIJING American companies in China are enjoying growing sales but are increasingly unsure of their welcome in the world’s second largest economy, according to a survey released yesterday. Three-quarters of US companies surveyed by the American Chamber of Commerce in China reported feeling less welcome than in the past, the business lobby said yesterday. It cited a survey of 411 American question. Some 46 percent of respondents said foreign companies face an unfair playing field compared with local companies. Inequalities in market access, in enforcement of regulations and in access to government subsidies top their list of complaints. A growing number see relations between the two superpowers as important to their own business prospects. Trade Rough diamond sales for De US5 mln tensions with the Trump administration simmered last year but have yet to escalate into a full-blown trade war. At the same revenue in 2017, up from 58 percent in 2016 and 55 percent in 2015. economy which last year grew 6.9, After President Donald Trump’s visit in October, China announced it would liberalise foreign investment access to its That was echoed last week by Liu He, President Xi Jinping’s top economic adviser, when he promised greater access some other service industries at the Davos summit. wider to foreign investment in the coming JOHANNESBURG Diversified mining group Anglo American said yesterday the value of rough diamond sales for its subsidiary amounted to US5 million compared with US9 million over the same period last year. “Following positive early signs for diamond jewellery sales over the holiday from 34 percent in 2016. “The survey continues to paint a troubling picture of the regulatory environment in China,” said William Zarit, chairman of the American Chamber of Commerce in China, in a statement. “The best that can be said of this year’s data is that there appears to be a bottoming out of sentiment from the very low levels plumbed over the past few years.” The data showed the growing technological might of Chinese companies. For companies in the consumer arena, 67 percent saw China as on the leading edge of digital technology or a notch above other markets. “China has a group of medium-income people which is 400 million strong providing a huge potential market for foreign companies,” said Hua Chunying, foreign ministry spokeswoman, when asked about the report yesterday. “Any person with a great vision can see this clearly”. - Nampa/AFP season in the US, the need for the industry to restock led to increasing demand for cycle of 2018,” De Beers CEO Bruce Cleaver said. “This seasonal restocking demand does usually see a larger share of annual purchases being planned into customers, resulting in an encouraging sales performance.” - Nampa/ANA Capitec shares fall sharply after research group says loan book overstated JOHANNESBURG Shares in Capitec Bank tumbled 20 percent yesterday after research group Viceroy said it had done extensive due diligence and compiled evidence suggesting the company must take would likely result in a net-liability position. “As a consequence of re-financing delinquent loans, Viceroy believes Capitec’s loan book is massively overstated,” said Viceroy, which wrote a damning report about Steinhoff before accounting irregularities were revealed at the retail company last December. “We think that it’s only a matter of time unravel, with macro headwinds creating an exponential risk of default and bankruptcy.” reachable for comment yesterday, but Bloomberg the allegations were “totally unfounded”. “It’s very surprising that someone writes a report who knows nothing about us,” du Plessis was quoted as saying. Capitec shares recovered some of their losses by 10h30, to trade 10 percent lower on the day on the Johannesburg Stock Exchange. - Nampa/ANA MARKET OVERVIEW Change Latest 3 months 0.00% 7.13% 6 months 0.01% 7.58% CGP CAPRICORN INVESTMENT GROUP L 1808 0.00% 9 months 0.03% 7.7% NBS NAMIBIA BREWERIES LTD 4000 0.00% 12 months 0.04% 7.95% BVN BIDVEST NAMIBIA LTD 785 0.00% Change Latest FNB FNB NAMIBIA HOLDINGS LTD 4658 0.00% GC18 (R204 : 7.08%) 0.00% 7.99% ORY ORYX PROPERTIES LTD 2060 0.00% GC21 (R208 : 7.41%) -0.04% 8.23% NAM NAMIBIAN ASSET MANAGEMENT LT 68 0.00% GC24 (R186 : 8.51%) -0.03% 9.73% NHL NICTUS NAMIBIA 189 0.00% GC27 (R186 : 8.51%) -0.03% 10.12% BMN BANNERMAN RESOURCES LTD 41 -10.87% GC30 (R2030 : 9.02%) -0.03% 10.69% DYL DEEP YELLOW LTD 266 0.76% GC32 (R213 : 9.09%) -0.03% 10.80% SILP STIMULUS INVESTMENT LTD-PREF 12129 0.00% GC35 (R209 : 9.41%) -0.03% 10.84% FSY FORSYS METALS CORP 121 -3.20% GC37 (R2033 : 9.22%) -0.03% 11.22% TUC TRUSTCO GROUP HOLDINGS LTD 900 0.00% %Change Latest B2G B2GOLD CORP 3645 -4.00% Gold 0.33% $ 1,344.82 Platinum -0.36% $ 1002.97 Copper 0.00% $ 7,085.00 Brent Crude -0.62% $ 68.77 %Change Latest NSX (Delayed) -0.30% 1363.72 JSE All Share -2.03% 59,570.80 SP500 -0.67% 2,853.53 FTSE 100 -0.58% 7,626.85 Hangseng -1.09% 32,607.29 DAX -0.50% 13,257.97 %Change Latest Financials -1.98% 17,257.47 Resources -2.54% 37,804.78 Industrials -1.90% 79,589.05 %Change Latest N$/US dollar -0.35% 11.9001 N$/Pound -0.04% 16.8012 N$/Euro 0.07% 14.7985 US dollar/ Euro 0.43% 1.2436 Latest Previous Namibia Inflation (Dec 17) 5.2 5.2 Bank Prime 10.50 10.50 BoN Repo Rate 6.75 6.75

Youth Corner 11 Youth targets mentoring 50,000 learners

New Era

New Era Newspaper Vol 22 No 167