Exxaro strike ends but the economic pain in Spain just gets worse

South Korea, China and Japan started negotiations to form the world ’ s third-largest free-trade bloc.

STRIKING workers at Exxaro returned to work after a twoweek stoppage.

PetroSA and Sinopec, a Chinese state-owned petroleum and petrochemicals conglomerate, signed a two-year agreement to move forward on a crude-oil refinery project at Coega in Port Elizabeth.

South Africa’s leading indicator increased for the seventh consecutive month in January, according to the Reserve Bank.

Investment firm Vunani on Monday reported profit of R11.8million for the year to December, compared with a loss of R24.9million from continuing operations and a total loss of R58.8-million the previous year.

Capitec reported a 47% increase to R1.58-million in its headline earnings for the

year to February.

The maximum price of Kenya ’ s benchmark grade AA coffee rose for the third week in a row at auction, to $502 a bag, according to the Nairobi Coffee Exchange.

Barclays ’ s indigenisation compliance plan for Zimbabwe was provisionally accepted by Zimbabwe ’ s empowerment minister, Saviour Kasukuwere.

Uranium One announced a 15% increase in 2012 production to £12.2-million.

Wesizwe Platinum reported basic earnings a share of 0.6c for the year to December, from a loss of 26.58c the previous year. Headline earnings were 0.7c from a 25.9c headline loss in 2011.

Inflation, according to the producer price index for final manufactured goods, decreased to 5.8% year on year in February, compared with 5.8% in January, Stats SA reported.

The trade deficit narrowed to R9.52-billion in February from R24.5-billion in January after an increase in exports and a decrease in imports, the South African Revenue Service reported.

Anglo American Platinum and the Department of Mineral Resources extended their bilateral consultation process by a further 30 days to allow more time for the process, which seeks to avert up to 14 000 job cuts.

THE Spanish Central Bank forecast that the Spanish economy, the fourth biggest in the eurozone, would contract by 1.5% this year after a contraction of 1.37% last year. Unemployment would rise to 27.1%. Retail sales fell by 8% year on year in February.

Mauritius cut its economic growth forecast for the year from 3.7% to 3.5% owing to a deeper decline in the country’s

construction industry.

British American Tobacco said in its annual report that its financial results for the year ended December suffered from exchange-rate movements‚ including that of the rand. The group’s revenue for 2012 was 1% lower than in 2011.

Goliath Gold Mining said that it expected a consolidated loss a share of between 59.4c and 64.9c and a consolidated headline loss a share of between 24.9c and 30.2c for the year to December.

Basil Read reported an operating loss from continuing operations of R170.9-million for the year to December. Headline loss amounted to R163.3-million.

South Korea’s new government cut the country’s economic growth forecast for this year from 3% to 2.3%.

Alert Steel reported a basic loss a share of 62.8c for the six months to December 2012. This was, however, better than the 199.6c loss in the six months to December 2011.

Growth in credit to South Africa’s private sector fell to 7.88% year on year in February compared with an 8.64% rise in January, indicating some deceleration in the economy.

India’s current-account deficit widened to a record high of 6.7% of GDP in the December quarter, driven by heavy oil and gold imports and slow exports.

Investment holding company Lonrho reported a basic loss a share of 11p in the 12 months to December‚ compared with 58p profit a share in the previous 15 months.

BioScience Brands reported a headline loss a share of 10c for the six months to December 2012, compared with a loss of 1c in the six month to December 2011.

Goliath Gold Mining reported a 62 cents per share loss for the year to December 2012.