Connect with us

African News

Naspers internet business Prosus soars in trading debut

Published

on

Investors piled into Naspers Ltd.’s newly listed Dutch unit, holding assets including a lucrative stake in Tencent Holdings Ltd., sending its shares soaring on their trading debut in Amsterdam.

Prosus NV, as the new company is known, jumped 29% above its reference price as of 08h04 to value the group at around 123 billion euros ($136 billion). Naspers is retaining a 73% stake.

Naspers CEO Bob van Dijk planned the move to ease the company’s dominance of Johannesburg’s stock exchange and attract more international investors to what’s become a global group.

The Cape Town-based company has long been valued at less than its $128 billion Tencent stake, and a key reason for the Prosus spinoff is to narrow that gap.

International investors

The listing is designed to achieve two main objectives for Cape Town-based Naspers.

First, CEO Bob van Dijk wants to attract more international investors to assign more value to the company’s non-Tencent assets, which the market rates at less than zero.

Second, the spinoff will reduce Naspers’s dominance of Johannesburg’s stock exchange, where it’s by far the biggest company.

“Outside of Tencent, Naspers’ biggest asset is its exposure to online classifieds,” said Alastair Jones, an analyst at New Street Research in London.

“The business is monetizing in 10 countries and already reports $875 million of revenues, with the potential to begin monetizing in another 20 countries. The opportunity is therefore massive, and execution is key.”

Further reporting by Bloomberg.


Read: Massive R180 million payday for Naspers boss

Source link

قالب وردپرس

African News

Sainsbury’s named cheapest supermarket of 2019 by Which?

Published

on

By

People walk into Sainsbury's storeImage copyright
Getty Images

Sainsbury’s has beaten rivals Morrisons and Asda to be named the cheapest supermarket of 2019, according to a survey by Which?.

Throughout the year, the consumer group tracked the prices of 53 branded items on a typical shopping list.

The list included goods like Andrex toilet roll and Weetabix cereal.

Each month Which? went to supermarket websites to compare the cost of the basket, which carried an average price tag of £107.01 at Sainsbury’s.

That stood in contrast to the average monthly cost of buying the goods at Waitrose – the most expensive supermarket according to the survey – where the price came to £117.81, 10% more.

Sainsbury’s, which was only the third-cheapest supermarket in 2018, stole the title from Morrisons, where the basket would have cost £109.13 last year.

This year, Morrisons was relegated to third place, behind Asda, where the basket of branded goods carried an average price tag of £107.65.

At Tesco, Which? recorded a £112.40 average bill when it reached the checkout. Meanwhile, the receipt was for £116.40 at Ocado.

Because the consumer group only tracked supermarkets that sell their full range online, discounters Lidl and Aldi were not included in the study.

“Your weekly supermarket shop can have a significant impact on your wallet, and the start of a new year is a good time to look at your household spending to see if there are areas where you can save money,” said Natalie Hitchins, head of home products and services at Which?.

“Our analysis shows how important it can be to shop around to ensure you get the best price for your groceries.”

Other items in the basket included Ben & Jerry’s cookie dough ice cream and Mr Kipling’s cherry bakewells.

Source link

قالب وردپرس

Continue Reading

African News

‘Avenue 5’ review: Hugh Laurie and Josh Gad star in this satirical flight aboard a space-faring cruise ship

Published

on

By

The starry cast includes Hugh Laurie as Ryan Clark, the glad-handing captain of the most ill-fated TV ship since a three-hour tour became “Gilligan’s Island.” (As it turns out, Clark’s accent is as put on as his impeccably pressed uniform, and watching Laurie slide back and forth between British and American English when agitated is one of the show’s simplest pleasures.)

Clark is anticipating easy sailing when the spacefaring luxury ship — in the midst of an eight-week vacation voyage — experiences an unfortunate hiccup, potentially extending its stay in outer space. The powers that be aren’t particularly eager to share that news with the passengers or public, so hysteria reigns not only in the ship’s private quarters but back on Earth, where the team at mission control desperately tries to find a solution.

Temporarily stranded, meanwhile, are a particularly odd assortment of personalities, including Avenue 5 owner Herman Judd (Josh Gad, sporting a Richard Branson hairdo), as eccentric as billionaires get. The harried staff, meanwhile, includes Judd’s mostly unflappable right hand (Suzy Nakamura), the ship’s level-headed engineer (Lenora Crichlow) and its officious customer-relations specialist (“Silicon Valley’s” Zach Woods).

The passengers, too, share center stage, among them a couple (Jessica St. Clair, Kyle Bornheimer) whose terrible marriage isn’t helped by the prospect of staying together in a small cabin much longer than either had intended; and a woman (Rebecca Front) whose loud complaints impede Clark’s efforts to keep everyone calm.

Iannucci has a knack for milking laughs out of absurd, utterly uncomfortable situations — as he did in “Veep” and “The Death of Stalin” — and the complications associated with the Avenue 5’s plight (one hesitates to call it “lost in space”) provide a vast canvas upon which to splatter them.

That said, the show’s manic satirical tone yields uneven returns, and the premise takes somewhat fitful advantage of its futuristic setting. The serialized screw-ups do manage to sustain interest, but with so many over-the-top moments and characters, the show occasionally feels like it’s working a little too hard at being outrageous.

Overall “Avenue 5” isn’t bad, based on the four episodes previewed, but nor is it good enough to merit an open-ended commitment. The bottom line is if the series keeps cruising along at this creative level and madcap pace, unlike characters in the show, there won’t be any difficulty finding a way to jump ship.

“Avenue 5” premieres Jan. 19 at 10 p.m. on HBO, which, like CNN, is a unit of WarnerMedia.

Source link

قالب وردپرس

Continue Reading

African News

Fulham 1-0 Middlesbrough: Anthony Knockaert sends Whites third with winner

Published

on

By

Anthony Knockaert scored his first Championship goal since September to give Fulham victory

Fulham moved up to third in the Championship as Anthony Knockaert’s early goal gave them victory over in-form Middlesbrough at Craven Cottage.

Knockaert capped a blistering opening half an hour from the hosts with what proved to be the winner, meeting Joe Bryan’s low fizzing cross to tap home at the far post.

It was the least Fulham deserved for their relentless first-half pressure, with the absence of injured top goalscorer Aleksandar Mitrovic perhaps telling as Scott Parker’s side squandered at least three guilt-edged opportunities.

Ivan Cavaleiro and Josh Onomah were most guilty, both failing to hit the target when well placed, while Denis Odoi deflected Hayden Coulson’s cross on to his own crossbar on a rare foray forward from Boro.

The contest was much tighter after half-time, although Odoi thought he had made the game safe when his glancing header found the corner of the net – only to be flagged offside by the barest of margins.

But Fulham were able to see out the game relatively comfortably to leapfrog Brentford; the win leaves them four points outside an automatic promotion place.

The result also checks Middlesbrough’s recent resurgence, with defeat in west London their first in six league matches, after they had clawed themselves clear of relegation trouble.

That run included eye-catching wins at West Bromwich Albion and Preston North End, but they never came close to repeating that level of performance against Fulham.

Knockaert had already curled one effort wide even before opening the scoring in the sixth minute, while captain Tom Cairney and Bryan also had efforts saved.

Paddy McNair came closest to an equaliser in the closing stages, inadvertently guiding a free-kick from out wide towards the far corner and forcing goalkeeper Marek Rodak into a smart save.

Source link

قالب وردپرس

Continue Reading

African News

Man dies after four swimmers experience difficulties at Tinley Manor Beach in KZN

Published

on

By

One person died after four swimmers got into difficulties in the surf on the KwaZulu-Natal North Coast on Friday, Netcare 911 has confirmed.

Spokesperson Shawn Herbst said paramedics had responded to reports of a mass drowning at Tinley Manor Beach, where reports from the scene indicated four bathers, all adult men, had got into difficulties while swimming.

“Three of the four men were rescued by lifeguards while a fourth had disappeared under the water. The patient was rescued by lifeguards who pulled the man onto the shore.

“After noticing the patient was unresponsive and not breathing, lifeguards began CPR,” Herbst added.

When the medics arrived, an “extensive attempt to revive” the swimmer was made.

He was, however, declared dead at the scene.

– Compiled by Tammy Petersen

Source link

قالب وردپرس

Continue Reading

African News

Lesotho PM confirms resignation after alleged link to wife’s murder

Published

on

By

Lesotho’s prime minister confirmed on Friday that he would resign after police linked him to the murder of his estranged wife nearly three years ago.

Thomas Thabane had faced calls from senior members of his All Basotho Convention (ABC) party to step down after police said there was evidence connecting him to the 2017 killing.

However, Thabane did not address the allegations against him when he announced his resignation plans at a press briefing in the capital Maseru.

Thabane gave no timeframe for his departure, but said he would nevertheless continue in his role as leader of the ABC.

“Truth be told, I have become of age and my strength has lessened, hence I announce before you today that I have an intention to step down and when such time comes I will let you know,” the 80-year-old said.

He said he had worked as long as he could for the well-being of the Basotho, an ethnic group native to Lesotho and South Africa.

“I am convinced that there is still much to do.”

Thabane’s 58-year-old wife Lipolelo was gunned down by unknown assailants on the outskirts of the capital in June 2017 – two days before he took office – in a killing that shocked the tiny country.

The couple were in the process of getting a divorce.

In his inaugural speech, Thabane described his wife’s murder as a “senseless killing”.

Police commissioner Holomo Molibeli, who is challenging Thabane’s attempts to sack him, has filed court documents — seen by AFP last week — alleging there was evidence linking Thabane to the murder.

Thabane was previously premier after 2012 elections but was forced to flee to South Africa — which entirely surrounds Lesotho — following an attempted coup two years later.

His coalition had been largely expected to usher in a new era of stability to the mountain kingdom following the collapse of both the previous joint administrations but three years on, Lesotho remains poverty-stricken.

Source link

قالب وردپرس

Continue Reading

African News

Ukraine audiotape row: President rejects PM’s offer to quit

Published

on

By

Ukrainian President Volodymyr Zelensky (left) meets Prime Minister Oleksiy Honcharuk in Kyiv. Photo: 17 January 2020Image copyright
AFP/Getty Images

Image caption

President Zelensky (left) said Mr Honcharuk must tackle a number of key issues to keep his job

Ukrainian President Volodymyr Zelensky has rejected a resignation offer by Prime Minister Oleksiy Honcharuk over a leaked audiotape scandal.

“I decided to give you a chance,” Mr Zelensky told the prime minister during a “clear the air” meeting.

But he said this was dependant on Mr Honcharuk’s ability to tackle a number of pressing issues.

In the tape, a voice sounding like Mr Honcharuk’s says Mr Zelensky only has a “primitive” grasp of economics.

Mr Honcharuk, a 35-year-old trained lawyer, also appears to admit that he himself is not good at economics.

The authenticity of the recording has not been officially confirmed.

Mr Zelensky, a 41-year-old TV comedian and businessman, was elected last April, trouncing President Petro Poroshenko.

The audiotape affair comes at a difficult time for Mr Zelensky, as his relations with President Donald Trump are under intense scrutiny. The US president is being impeached for allegedly trying to pressure Mr Zelensky into investigating political rival Joe Biden.

What did Mr Zelensky say?

At Friday’s meeting in Kyiv, the president described the situation around the leaked recording as “very unpleasant”.

But he said he decided to keep the prime-minister and his cabinet, taking into account that the public had “great trust” in them when the government was formed last August.

“You have not yet repaid this loan to our society,” Mr Zelensky said.

At the same time, Mr Zelensky warned that Mr Honcharuk must tackle the issue of high salaries among government ministers and other issues to keep his job.

The president also gave the Ukrainian authorities two weeks to track down the source of the leak.

What was in the leaked tape?

The controversial audiotape was uploaded to an anonymous YouTube channel on Wednesday evening.

Mr Honcharuk was apparently discussing the national budget during a December meeting with the finance minister and National Bank of Ukraine.

Media playback is unsupported on your device

Media captionVolodymyr Zelensky at his inauguration – with high fives and selfies

Writing on social media, Mr Honcharuk said the recordings had been edited from several fragments of government meetings to create the false impression that he did not respect the president.

He said Mr Zelensky was “a model of honesty for me”, but “to remove any doubts about our respect and trust in the president, I wrote a resignation offer”.

Before joining the Zelensky team Mr Honcharuk worked as a commercial lawyer. He is the youngest prime minister in Ukraine’s history.

Some Ukrainian commentators have speculated that the leak may be a deliberate attempt to destabilise Mr Zelensky’s government, and there are questions about its authenticity.

In an excerpt from the recording, broadcast by private news channel 112 Ukraina, the voice attributed to Mr Honcharuk scorns the “Sorosite” reformers around President Zelensky – a reference to reformers backed by billionaire US financier George Soros, a major philanthropist in ex-communist eastern Europe.

“There used to be good business managers, under whom the [economic growth] was 4.6%. Then Sorosites came, and the economic growth is 2% and less. And you cannot prove anything to anyone,” the speaker said.

“And all of this, together, induces in the president a feeling that the situation is uncontrollable. We do not understand. We have no plans.”

That bleak assessment is, however, contradicted by some recent reports on the Ukrainian economy.

Ukraine’s state statistics service last month estimated output in 2019 at just over 3%, the highest rate for the past eight years.

Anders Aslund, a Ukraine expert at the Atlantic Council think-tank, says the budget deficit was reduced to 2% of GDP (total output) in 2019, inflation fell to 5% and the currency, the hryvnia, strengthened 19% against the US dollar.

Mr Honcharuk’s government secured a $5.5bn (£4.2bn; €4.9bn) IMF loan programme in December, but the payments depend on Ukraine’s progress in reforming the economy, especially in tackling the power of oligarchs.

Source link

قالب وردپرس

Continue Reading

Trending