Monday, July 16, 2018
TOKYO - Japan’s central bank is set to maintain upbeat price forecasts next week and paint a slightly better picture of the economy than it did three months ago, signaling its conviction the country is making slow but steady progress in eradicating deflation. A man walks past the Bank of...
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...
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 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...
JOHANNESBURG - South Africa’s rand steadied against the dollar early on Wednesday, holding at a two-and-a-half-year high, supported by a weaker greenback and expectations the new leader of the ruling African National Congress would rejuvenate the economy. At 0645 GMT, the rand traded at 12.0300 per dollar, largely steady from...
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...
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...
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...
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...
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...