Two of SA among 200 richest

Two families in South Africa made it in the top 200 of Forbes magazine's list of richest people in the world.

According to Forbes magazine's 2007 rankings of the world's richest people, the 61-year-old Nicky Oppenheimer and his family clinched the 158th spot with a net worth of $5bn (R36.9bn), while Johann Rupert, 56, and his family claimed spot 194. They are worth $4.3bn (R31.7bn).

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SA sued over black mining law

The Italian owners of two granite firms are suing South Africa for €266m, arguing that laws which force firms to sell stakes to black investors violated international investment treaties, the investors' lawyer said on Friday.

The act marks the first legal action alleging that South Africa's mining charter, which seeks to boost involvement of blacks in a sector that excluded them during apartheid, amounts to expropriation.

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Deadline for tax returns moves

Income tax returns for 2007 will be issued later than usual this year, the SA Revenue Service (SARS) said on Friday.

"Taxpayers are encouraged to record accurate odometer readings if they are in receipt of a motor vehicle allowance and to retain such information for the submission of their returns later this year," SARS said in a statement.

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Asian Stocks Advance, Led by Toyota on Yen Drop; Posco Climbs

Asian stocks rose, buoyed by a weaker yen and faster-than-expected growth in Japan's machinery orders. Toyota Motor Corp. and Advantest Corp. gained.

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European Stocks Rise on Earnings; Suez, Aegon and BNP Advance

European stocks rallied for a third day, led by Suez SA and Aegon NV after the companies reported earnings that topped analysts' estimates.

Deutsche Bank AG and BNP Paribas SA, the biggest banks in Germany and France, respectively, gained after JPMorgan Chase & Co. increased its recommendation on the shares. BHP Billiton, the world's biggest mining company, led shares of raw-material producers higher as metals prices rose.

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Emerging-Market Stocks Advance on Earnings, Growth Prospects

Emerging-market stocks rose, completing their biggest three-day gain in eight months, on prospects for economic growth and increased profits.

Indexes in China, Brazil, Hungary, Mexico, Turkey and Malaysia gained more than 1.8 percent. India's Sensitive Index climbed the most in eight months after the country's prime minister said the economy may expand more than 9 percent this year.

U.S. Treasury Secretary Henry Paulson said yesterday global economic growth is "solid.'' The U.S. economy is likely to strengthen this year, economists said in a survey by Bloomberg. Premier Wen Jiabao of China, the world's fastest growing major economy, left the 8 percent growth target unchanged from last year.

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U.S. Stocks Rise, Led by Phone Shares, Steelmakers; AT&T Gains

U.S. stocks posted their second gain this week, buoyed by the prospect of increasing sales and earnings at telephone companies, raw-materials producers and luxury retailers.

The advance, led by phone carrier AT&T Inc., steelmaker Nucor Corp. and department-store chain Nordstrom Inc., enabled the market to recoup about a third of its losses since Feb. 27.

The Standard & Poor's 500 Index and the Nasdaq Composite Index rose to one-week highs after falling yesterday, while the Dow Jones Industrial Average climbed to its highest this month.

Read more at Bloomberg.com