Friday, June 22, 2018
The rand was slightly firmer on Thursday morning as the market awaited further clarity on President Jacob Zuma’s expected resignation. Business Day reported that Zuma wanted to say goodbye to the Cabinet and address the nation before resigning. The rand has weakened above R12 to the dollar again amid a lack of progress...
TOKYO - Oil prices on Monday extended declines from the end of last week amid a wider market sell off and a stronger dollar, with Brent crude falling to its lowest in nearly a month. Other markets dropped as investors were spooked by Friday’s payrolls report from the United States, which showed wages growing...
The rand was firmer against the dollar on Wednesday morning, as the euro maintained its newly found momentum against the dollar. The dollar is under renewed pressure following President Donald Trump’s forceful "America First" state of the union address on Tuesday, overshadowed by a weaker close on the Dow and as bond yields...
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...
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...
U.S. semiconductor company Qualcomm Inc on Thursday rejected Broadcom Ltd’s revised $121 billion buyout offer, but proposed meeting its peer to see whether they can address what it called the bid’s “serious deficiencies in value and certainty.” Qualcomm’s response attempts to strike a balance between continued resistance of Broadcom’s takeover attempt and...
South African bonds were mixed on Thursday morning as the rand lost some ground following the US Federal Reserve’s decision to keep interest rates unchanged. The US Fed was marginally more upbeat and hawkish on Wednesday. "It indicated that the economy is growing at a solid pace on the back of household spending,...
LONDON - Royal Dutch Shell could usurp its largest rival Exxon Mobil as the energy sector’s biggest cash generator after higher oil and gas prices combined with an improved performance lifted its 2017 revenue. Chief Executive Ben van Beurden has made no secret of his desire to challenge the dominance...
South African bonds were a little firmer on Thursday morning as the market followed the rand, which on Wednesday reached its best level against the dollar since mid-May 2015. Bonds have gained in 2018 on the expectation of a interest-rate cut by the Reserve Bank. But the momentum has become more...
The rand was stable on Wednesday morning ahead of the budget, which could temper positive momentum generated by the recent local political transition, which ushered in Cyril Ramaphosa as head of state. Peregrine Treasury Solutions analyst Bianca Bote said in a note that the local currency could weaken to R12/$ if the...