South Africa should empower agencies to start managing water-catchment areas and curb losses for a life-sustaining resource that’s in increasingly short supply, the Organization for Economic Development and Cooperation said.
Peter Munk built Barrick Gold Corp. into the world’s largest gold producer by expanding into Africa and South America. Now former Goldman Sachs Group Inc. President John Thornton is betting on China to help revive the beleaguered company’s fortunes.
South African Finance Minister Pravin Gordhan is spurning the International Monetary Fund’s advice on debt and risking sovereign downgrades by boosting borrowing faster than projected to counter falling tax revenue.
The shares of Teva Pharmaceutical Industries Ltd., the world’s largest generic-drug maker, have plunged 42 percent since their 2010 peak. Now the man hired to turn the company around just 18 months ago is gone, and analysts say it may be tough to find a replacement.
Currency trading in Ghana has slowed as foreign-exchange inflows from gold exports declined and the central bank refrained from using reserves to bolster the cedi, First Deputy Governor Millison Narh said.
Barrick Gold Corp. founder and Chairman Peter Munk said his company’s “unorthodox” C$7.3 billion ($7.6 billion) acquisition of copper producer Equinox Minerals Ltd. was necessary to fund new gold mines.