|Bid||1.0400 x 2200|
|Ask||1.0600 x 2900|
|Day's Range||1.0300 - 1.0700|
|52 Week Range||0.8600 - 2.2600|
|Beta (3Y Monthly)||2.40|
|PE Ratio (TTM)||N/A|
|Earnings Date||Sep 16, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1.30|
JOHANNESBURG, Sept. 6, 2019 /PRNewswire/ -- On 16 August 2019, Sasol announced that the Board of Directors of Sasol (the Board) had decided to delay the announcement of the Company's financial results for the year ended 30 June 2019 (2019 financial results) which were due to be released on 19 August 2019 and that the Board expected to release them on 19 September 2019. This delay was to allow for the completion of the assessment of possible internal control weaknesses identified during the independent review announced by the Board previously.
BNB's funding multiple projects will enable Canadian Solar (CSIQ) to build one of the largest high efficiency bi-facial solar power plants in Latin America.
LAKE CHARLES, Louisiana, Aug. 28, 2019 /PRNewswire/ -- Sasol today announced our world-scale U.S. Ethane Cracker reached beneficial operation on 27 August 2019. Sasol's new Cracker, the heart of our Lake Charles Chemicals Project (LCCP), is the third and most significant of the seven LCCP facilities to come online and will provide feedstock to our six new derivative units at our Lake Charles multi-asset site.
JOHANNESBURG, Aug. 28, 2019 /PRNewswire/ -- In our announcement of 26 August 2019, we confirmed that the 72-hours beneficial operation production test run on the LCCP's Ethane Cracker was at the halfway mark.
(Bloomberg) -- South Africa’s National Treasury outlined its vision to bolster economic growth and tackle a 29% unemployment rate, proposing a range of reforms including cutting red tape for businesses and easing visa rules to boost tourism.The reforms could lift the average economic growth rate by 2 to 3 percentage points and create more than one million jobs over a decade, the Treasury said in a policy paper released on Tuesday.While proposals such as easing visa rules and releasing broadband spectrum could be low-hanging fruit and have also been suggested by the Reserve Bank and International Monetary Fund, others, such as selling off power plants owned by state utility Eskom Holdings SOC Ltd. and introducing new rules that will let households and companies sell excess electricity they produce back to the national grid, may be more difficult to push through.The policy paper is an attempt to circumvent obstacles to structural reform in both the cabinet and the ruling African National Congress and is likely to trigger an angry reaction from within the government and parts of the party, according to Frans Cronje, chief executive officer of the Johannesburg-based South African Institute of Race Relations.It “is likely to be welcomed in analyst and investor circles but not sufficiently to change investor sentiment, and will rather be read as further evidence of the contradictions and confusions that continue to bedevil government policy in South Africa,” he said.Weak growth has exacerbated social pressures in Africa’s most-advanced economy and failure to create jobs and reduce income inequality could spark unrest. The economy contracted an annualized 3.2% in the first quarter, the most in a decade, as power shortages curbed output.The Reserve Bank projects growth of 0.6% for the year. That’s well short of the more than 5% rate the government says is needed to halve the unemployment rate.The Treasury described the current economic trajectory as unsustainable and said it could only be turned around through “deliberate and concrete action.” The country also needs “a stable macroeconomic policy framework underpinned by a flexible exchange rate, inflation targeting, and credible and sustainable fiscal policy,” the Treasury said.These are some of the other proposals in the paper:Allocate broadband spectrum to private companies through an auction, with a small set-aside for a government-controlled network. Competition should be allowed in Telkom SA SOC Ltd.’s infrastructure.Visa regulations should be amended to ensure a better balance between security concerns and the growth of tourism. The tightening of visa regulations is out of step with a global move and while other countries are typically making it easier for tourists to travel, South Africa risks falling behind, the Treasury said.Grant third-party access to the rail network to promote private-sector participation.All infrastructure projects of strategic importance should be developed in coordination with government, the private sector and state-owned companies to alleviate pressure on the balance sheets of these firms.Water demand will exceed supply by 2030, so the country needs a strategy for investment in water-resource development, bulk-water supply, and waste-water management and should apply lessons from the renewable energy independent power producers program.Small businesses should receive full or partial exemptions from certain regulations, including labor laws, to lower the startup costs and reduce the regulatory burden.Conditions for banking licenses should be made less onerous and banking regulations should be more flexible to new developments, such as the growth of mobile moneyFuel-price regulation should be reviewed, particularly in terms of spot price benchmarks and where regulation has supported incumbents such as Sasol Ltd.The paper is out for public comment until Sept. 15. What may further complicate Finance Minister Tito Mboweni’s efforts garner support for the 77-page document as policy is that it doesn’t mention three key ANC’s decisions: expropriation of land without compensation, nationalizing the Reserve Bank and investigating the use of prescribed assets of pension funds to boost inclusive growth.While Treasury’s proposals are similar to those stated in previous development plans, it is unclear whether they will be supported or lead to coordinated policy action because they have not been issued by the government, Nema Ramkhelawan-Bhana an economist at FirstRand Bank Ltd.’s Rand Merchant Bank, said in a note.“The proposals are a further demonstration of our country’s ability to conceptualize practical solutions but, at the same time, an expression of its failure to execute on seemingly well-thought-out plans,” she said(Updates with Reserve Bank, IMF suggestions in third paragraph, analyst comment in final two paragraphs.)\--With assistance from Antony Sguazzin.To contact the reporters on this story: Prinesha Naidoo in Johannesburg at email@example.com;Mike Cohen in Cape Town at firstname.lastname@example.orgTo contact the editors responsible for this story: Rene Vollgraaff at email@example.com, Alastair ReedFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
JOHANNESBURG, Aug. 26, 2019 /PRNewswire/ -- As noted in our 16 August 2019 communication, a problem relating to a large heat exchanger on our Ethane Cracker which interrupted the start-up for several days was successfully resolved and start-up resumed. On 24 August 2019, we reached the important milestone of producing ethylene at the LCCP that meets the feedstock requirements of some of our downstream units. Efforts to upgrade ethylene to polymer grade specification are underway with the support of the catalyst supplier and the technology licensor.
SHANGHAI , Aug. 21, 2019 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") ( www.renesolapower.com ) (NYSE: SOL), a leading fully integrated solar project developer, announced ...
JOHANNESBURG, Aug. 21, 2019 /PRNewswire/ -- In Sasol's announcement of 16 August 2019, the Company informed investors of the delay of the release of its 2019 financial results and related suite of reports. This will allow for the completion of management's assessment and remediation of possible control weaknesses followed by the consideration of these assessments by Sasol's external auditors. As is normal practice, the Company has engaged with investors and analysts in response to the announcement. Sasol confirms that no material or price sensitive information other than that contained in the announcement was discussed in any of these engagements.
JOHANNESBURG, Aug. 16, 2019 /PRNewswire/ -- In the Company's Trading Statement of 25 July 2019, updated guidance was provided on the independent review commissioned by the Board to ascertain the factors that impacted the cost and schedule changes for the Lake Charles Chemicals Project (LCCP). A preliminary report from the independent review was presented to the Board on 14 August 2019. The report contains observations which point to possible LCCP control weaknesses.
Sasol's foundation business is expected to deliver resilient results with a strong volume, cost and working capital performance, despite a weak macroeconomic environment resulting in lower chemical prices and petrol differentials. There are a number of non-cash adjustments to the results which will result in a decrease in earnings per share. The largest of these were the sizable impairments of relevant cash generating units (CGUs) due to the softer outlook for global chemical and gas prices and the higher capital spend on the Lake Charles Chemicals Project (LCCP).
SHANGHAI , July 15, 2019 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") ( www.renesolapower.com ) (NYSE: SOL), a leading solar project developer, today announced that it ...
NANJING , China , July 10, 2019 /PRNewswire/ -- Sasol Limited, an international integrated chemicals and energy company, today announced the opening of its new alkoxylation plant in Nanjing . This facility ...
SHANGHAI, July 8, 2019 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or "the Company") (www.renesolapower.com) (SOL), a leading solar project developer, today announced that its Chief Executive Officer, Mr. Xianshou Li, due to personal reasons, resigned from his position as Chief Executive Officer and from all other managerial positions held by him in ReneSola and any of its subsidiaries, effective July 8, 2019. The Board has accepted his resignation and has appointed Ms. Shelley Xu as the new Chief Executive Officer of the Company.
ReneSola's (SOL) weak gross margin in first-quarter 2019 can be attributed to revenue decline and unfavorable margin from project sales in the United States.
SHANGHAI , June 27, 2019 /PRNewswire/ -- ReneSola Ltd ("ReneSola" or the "Company") ( www.renesolapower.com ) (NYSE: SOL), a leading solar project developer, today announced its unaudited ...
NEW YORK, NY / ACCESSWIRE / June 27, 2019 / ReneSola Ltd. Sponsored ADR (NYSE: SOL ) will be discussing their earnings results in their 2019 First Quarter Earnings to be held on June 27, 2019 at 8:30 AM ...