Saturday, September 22, 2018
The rand held up on Friday morning, out of sync with other emerging-market currencies, which sagged amid global risk aversion. On balance, the local currency has been relatively resilient during the current bout of risk-off trade, which started a week ago. Analysts say local political dynamics have cushioned the rand against the blows...
South African bonds were little changed on Wednesday morning, as the markets waited to see whether speculation of an imminent resignation by President Jacob Zuma would turn out to be true. The rand was firmer on Wednesday morning, with analysts expecting bonds to trade in tight ranges ahead of any presidential press conference. Globally, the...
The good news is the World Bank expects SA’s economic growth to accelerate to 1.1% in 2018 from 0.8% in 2017. The bad news is this makes SA a laggard among emerging markets — which are expected to average 4.5% growth this year — and places SA far below the...
Western Cape farmers have recorded R14bn in losses so far, as a result of the crippling drought in the province, according to Agri Western Cape CEO Carl Opperman. Farmers have warned that the agricultural sector faces a jobs bloodbath, saying an estimated 50,000 people could be out of work soon. The...
South African bonds firmed on Wednesday morning, as US treasuries and global equity markets rebounded from their recent precipitous fall. Local bonds benefited on Tuesday, but there has been some volatility in the market as internal ANC battles over the presidency continue. Reports on Wednesday suggested a nascent deal between President Jacob Zuma and ANC president...
The rand was range-bound in early morning trade on Tuesday after starting the week on a quiet note. "Risk-on currencies have traded well, but thin-liquidity conditions persist, with small foreign capital outflows recorded last week," an analyst at Nedbank Corporate and Investment Banking (CIB) said. The dollar had made a comeback...
Johannesburg.  — Sibanye Gold plans to buy Lonmin, marking the end of the smallest and most financially stressed of the world’s three biggest platinum miners. Sibanye offered £285 million (R5,17 billion) to buy Lonmin in an all-share offer, according to a statement yesterday. The deal, Sibanye’s fourth major acquisition in...
MAPUTO - The Mozambican government has  stopped paying housing rentals and selling official vehicles to state  officials, who receive a subsidy equivalent to 30 percent of their basic  monthly salary, a decree law published last Wednesday on the country’s  official bulletin announced. The decree, approved as part of a set...
The rand was relatively steady and well contained on Tuesday morning amid uncertainty about the future of President Jacob Zuma. The long meeting of the ANC’s national executive committee (NEC), which was meant to finalise Zuma’s departure, left the markets none the wiser, fuelling speculation that Zuma was digging in his heels. The...
U.S. semiconductor company Qualcomm Inc on Thursday rejected Broadcom Ltd’s revised $121 billion buyout offer, but proposed meeting its peer to see whether they can address what it called the bid’s “serious deficiencies in value and certainty.” Qualcomm’s response attempts to strike a balance between continued resistance of Broadcom’s takeover attempt and...