Business News

20 September 2016 - 09:36 By BDLive, AFP, Reuters

Naspers is set to receive at least four bids for Allegro in a deal that could value eastern Europe's No1 auction website at up to $2.2-billion (about R31.5-billion), sources familiar with the talks said yesterday. 'Polish eBay' auction a boon for NaspersNASPERS is set to receive at least four bids for Allegro in a deal that could value eastern Europe's No1 auction website at up to $2.2-billion (about R31.5-billion), sources familiar with the talks said yesterday.The four bidders are expected to submit offers for "the Polish eBay" ahead of today's deadline for first-round bids.With more than 14million clients, Allegro competes with eBay, Amazon and OLX.pl, which is also owned by Naspers.Poland's e-commerce market is expected to grow by 15% this year to 35.8-billion zlotys, according to Sociomantic Labs. - Reuters Self-driving cars 'around the corner'THE move to self-driving cars is coming faster than most people think, says the head of ride-sharing giant Lyft.Within five years, autonomous vehicles will account for the majority of Lyft rides, says CE John Zimmer."We've celebrated cars as symbols of freedom and identity."But for many people - especially millennials - car ownership is a burden," he said in a Medium blog post at the weekend."Every year, more and more people are concluding that it is simpler and more affordable to live without a car," Zimmer wrote. - AFP Sunnier disposition in farming outlookCONFIDENCE in the recession-struck agricultural sector has jumped to its highest level in eight quarters, suggesting an expansion in South African agri-business activity, an index showed yesterday.The Agbiz/IDC confidence index recovered 13 points to 60 in the third quarter of this year, after remaining below 50 index points for five consecutive quarters, according to Agbiz.This is the highest reading since the third quarter of 2014.Wandile Sihlobo, Agbiz head of agri-business research, said: "This suggests that agri-businesses are holding an optimistic view of business conditions." - BDLive Harmony buys the rest of Hidden ValleyHARMONY Gold has agreed to buy the other half of its Hidden Valley joint venture in Papua New Guinea from Australian partner Newcrest.Harmony has been looking for acquisitions to meet its goal of increasing production to 1.5-million ounces over the next three years.In the deal announced yesterday, Harmony will pay Newcrest a nominal $1 (about R14.30) for the other 50% of Hidden Valley." Hidden Valley has the potential to contribute 180000oz of gold per annum to Harmony's production profile ," Harmony CEO Peter Steenkamp said. - BDLive..

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