Botswana News
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Massmart Holdings Ltd., the South African food and general goods retailer controlled by Wal-Mart Stores Inc., expects sales growth to remain subdued as the economy slows and rising inflation weighs on consumers.
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Zimbabwe’s stock exchange, whose main industrial index has jumped 38 percent this year, plans to sell shares through an initial public offering by the end of 2013, according to the country’s Securities Exchange Commission.
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Diamond prices will rise an average 6 percent a year through 2020 as tight supply is unable to meet growing demand in China and India, BMO Capital Markets said.
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PPC Ltd., South Africa’s biggest cement maker, said first-half profit fell 20% as a result of tax charges and costs associated with complying with Zimbabwe’s ownership laws.
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Harry Winston, the watch and jewelry brand that Swatch Group AG acquired this year, yesterday paid a record $26.7 million for a colorless diamond in Geneva.
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PPC Ltd., South Africa’s biggest cement maker, said U.S. dollar-based operations outside its home market boosted revenue for the six months through March.
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Raubex Group Ltd., a South African road builder, is seeking contracts in sub-Saharan Africa to offset weaker margins in its home market, Chief Executive Officer Rudolf Fourie said.
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Sliding prices for the commodities that have underpinned Africa’s expansion for more than a decade are threatening to check economic progress in the world’s poorest continent.
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The Bank of Botswana cut its benchmark interest rate for the first time since 2010 to help support a flagging economy.
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Botswana’s President Ian Khama was attacked by a cheetah while visiting army barracks last week, Gaborone’s Sunday Standard reported, citing government spokesman Jeff Ramsay.
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