Wednesday, January 16, 2019
Shanghai. — Chinese companies are turning away from capital markets and heading back to state-owned banks to raise cash, in a reversal of Beijing’s previous efforts to modernize the way the corporate sector in the world’s No. 2 economy is funded. China’s bond and stock markets have provided about a...
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...
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...
U.S. semiconductor company Qualcomm Inc on Thursday rejected Broadcom Ltd’s revised $121 billion buyout offer, but proposed meeting its peer to see whether they can address what it called the bid’s “serious deficiencies in value and certainty.” Qualcomm’s response attempts to strike a balance between continued resistance of Broadcom’s takeover attempt and...
The rand was range-bound in early morning trade on Tuesday after starting the week on a quiet note. "Risk-on currencies have traded well, but thin-liquidity conditions persist, with small foreign capital outflows recorded last week," an analyst at Nedbank Corporate and Investment Banking (CIB) said. The dollar had made a comeback...
MAPUTO - The Mozambican government has  stopped paying housing rentals and selling official vehicles to state  officials, who receive a subsidy equivalent to 30 percent of their basic  monthly salary, a decree law published last Wednesday on the country’s  official bulletin announced. The decree, approved as part of a set...
The rand was stable on Wednesday morning ahead of the budget, which could temper positive momentum generated by the recent local political transition, which ushered in Cyril Ramaphosa as head of state. Peregrine Treasury Solutions analyst Bianca Bote said in a note that the local currency could weaken to R12/$ if 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...