Wednesday, December 19, 2018
LONDON - Royal Dutch Shell could usurp its largest rival Exxon Mobil as the energy sector’s biggest cash generator after higher oil and gas prices combined with an improved performance lifted its 2017 revenue. Chief Executive Ben van Beurden has made no secret of his desire to challenge the dominance...
WASHINGTON - The Federal Reserve is expected to leave interest rates unchanged on Wednesday while signaling a gradual tightening of monetary policy later this year as the U.S. economy continues to expand and job gains remain solid. Investors will focus on the U.S. central bank’s gauge of inflation, which remains stubbornly below...
The rand was slightly stronger on Thursday morning following Wednesday’s setback when it registered the business community’s disappointment that rumours of President Jacob Zuma’s exit were false. The rand was trading at R12.4242 to the dollar at 8.10am, 0.09% stronger than its R12.4346/$ closing price on Wednesday. The South African currency...
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 against major global currencies shortly before midday on Monday, amid risk-on global trade and continued positive sentiment towards SA. The rand has only been pipped by the Mexican peso in terms of the best-performing emerging-market currencies so far in 2018, with analysts saying recent political developments...
Business Writers The implementation of multi-billion dollar energy and telecommunications deals in Zimbabwe is under threat due to delays in the repayment of a $60 million debt to China Export and Credit Insurance Corporation (Sinosure) by Government, Business Weekly has established. Sinosure is a State-funded insurance group spearheading China’s foreign...
MAPUTO - The Mozambican government earlier this week lowered the threshold for entitlement to old-age pension from 120 to 60  months equivalent subscription, a statement from the National Social  Security Institute (INSS) said. According to the new Social Security regulations now in force,  taxpayers who reach retirement age – 60...
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...
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...
Asian foreign exchange traders appeared torn between applauding and jeering the Cabinet appointments President Cyril Ramaphosa announced at 10pm on Monday. The initial reaction to the widely expected return of Nhlanhla Nene as finance minister and appointment of Pravin Gordhan as public enterprises minister saw the rand strengthen to R11.51...