Sappi Has Third-Quarter Profit on Higher Paper Prices in Europe, Exports

(Bloomberg) -- Sappi Ltd., the world's largest maker
of glossy paper, posted a fiscal third-quarter profit after
raising prices in Europe and lifting exports.

Net income was $53 million, or 23 cents a share, in the
three months through June, compared with a $53 million loss a
year earlier, Johannesburg-based Sappi said in a stock exchange
statement today. Sales gained 6.8 percent to $1.3 billion.


Read more at Bloomberg Emerging Markets News

South Africa Oil Companies Improve Pay Offer to Try End Strike, Union Says

(Bloomberg) -- BP Plc, Royal Dutch Shell Plc and
other oil refiners in South Africa improved their wage offer to
local workers in a bid to end a strike that has led to fuel
shortages in Africa's largest economy.

``We can't say yet what the improvement is,'' Welile
Nolingo, secretary-general of the Chemical, Energy, Paper,
Printing, Wood and Allied Workers' Union (CEPPWAWU) said by phone
from Johannesburg today. ``We're still negotiating.''


Read more at Bloomberg Energy News

Barloworld to spin off, list coatings unit

(Reuters) - South African industrial group Barloworld will list its coatings unit on the Johannesburg Stock Exchange before the end of 2007, it said on Tuesday.

Barloworld, which markets Caterpillar earth-moving machines and Avis car hire, has said it plans to focus on its equipment, motor, materials handling and logistics divisions, and is disposing of its other units.


Read more at Reuters Africa

S.African stocks tumble to 3-week low, miners hit

(Reuters) - South African blue-chip stocks tumbled as much as 2.2 percent to their lowest level in more than three weeks as softer metal prices hit mining stocks and weaker global equities hurt broader sentiment.

The Johannesburg Top-40 index of blue-chip stocks fell 1.98 percent to 25,809.55 points -- its lowest level since July 2. The Johannesburg All-share index slid 1.88 percent to 28,559.50 points.


Read more at Reuters Africa