Pretoria News
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South African corn decreased the most in more than two weeks as prices in the U.S., the biggest producer of the grain, dropped after farmers made progress with their planting amid drier weather.
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South Africa’s government said President Jacob Zuma’s name was used to illegally obtain rights for a civilian Airbus plane to land at a military air base.
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The rand weakened to a four-year low against the dollar, extending its longest losing streak in a year on concern that renewed labor unrest and falling commodity prices will weigh on South Africa’s economy.
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South Africa, the biggest corn producer on the continent, will probably decrease its forecast for output of the grain by 1.7 percent from last month’s prediction, a survey shows.
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South African retail-sales growth slowed in March from a year earlier as inflation remained close to the top of the central bank’s target and a 25 percent jobless rate hurt consumer spending.
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South African corn fell after the price on the Chicago Board of Trade, the global benchmark, dropped 1.9 precent on May 10 as a U.S. Department of Agriculture report found inventories will double as farms recover from the 2012 drought.
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An Indian family is playing monopoly when one of the brothers exclaims that he has found a place where you can buy the president and land your airplane at a military base. The country is South Africa.
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South African manufacturing output unexpectedly fell 2.2 percent in March as weak domestic and global growth curbed demand.
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Transnet SOC Ltd., South Africa’s state-owned port and railway operator, has 15 days to respond to an 85.5 billion rand ($9.5 billion) lawsuit brought against it by pensioners, according to the applicant’s attorney.
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South African bond yields plunged to a record as the manufacturing and mining industries unexpectedly contracted, adding to speculation that the central bank will cut interest rates.
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