Fin24 Economy

South Africa's drive to attract foreign investment and grow its industrial base is bearing fruit, Trade and Industry Minister Rob Davies says.

The German economy got off to an unexpectedly weak start this year, as it battled sagging exports and weak investment, official data shows.

Trade conditions improved faster than anticipated in April aided by a robust rise in new vehicle sales, says the SA Chamber of Commerce and Industry.

Striking workers at Lonmin's platinum mine in Marikana have vowed to stay away until their demands are met.

The proposed Licensing of Businesses Bill is a "crazy" idea which will maximise corruption, the Free Market Foundation says.

South Africans should stop wasting time opposing National Health Insurance, Health Minister Aaron Motsoaledi says.

Growth in SA's retail sales has slowed to 2.8% year-on-year in March, Statistics South Africa says.

Most notable among companies transferring money from the island's two main banks around the financial meltdown were Russians and East Europeans, documents show.

Revived labour unrest in SA's mining industry could impact its export competitiveness and threaten the economy's credit rating, analysts from Moody's say.

Brazil's flagging oil industry has received a jolt of serious interest from private investors, after 142 exploration areas were sold to firms from 12 countries.

Investing in new capacity is a large and long-term task and presents problems in funding and building, says Eskom CEO Brian Dames.

The German economy eked out a return to minimal growth in an unusually cold first quarter a performance that was enough to keep Europe's biggest economy out of recession.

The European Union is pledging $674.8m over the next two years to help recreate the west African country of Mali as a functioning state.

Deputy President Kgalema Motlanthe has urged businesses, the government, and civil society to work together to foster economic development.

The SA Revenue Service says the country remains at risk when it comes to illicit financial outflows, and it will strengthen its systems to prevent tax evasion.

It is back to work for thousands of bus drivers who have held out for almost a month to ultimately accept a salary increase of 9.5%.

EU finance ministers are seeking rules to shift the burden for bank failures from taxpayers to creditors.

The government road agency Sanral has scrapped plans to construct a toll-road on the N2 Wild Coast Highway, stating that KwaZulu-Natal is already over-tolled.

Eskom's ability to keep the country's lights on this winter remains a major worry, the DA warns.

The International Energy Agency says booming oil production in North America brought on by the shale energy revolution has created a global "supply shock".