Friday, June 22, 2018
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...
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...
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...
JOHANNSUBRG — The rand scaled nine-month highs on Monday after Deputy President Cyril Ramaphosa became the new leader of the ruling African National Congress (ANC) party, succeeding President Jacob Zuma. Ramaphosa, a 65-year-old union leader who became a businessman and is now one of South Africa’s richest people, beat sole...
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...
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...
Tinashe Makichi South Africa power cable manufacturer, M-TEC Taihan Electric Wire, is looking to set up a manufacturing plant in Zimbabwe as part of broader plans to expand outside South Africa. M-TEC is a Black Economic Empowered Company, which has South African shareholders, CIH Holdings and South Korean shareholders Taihan Electric...
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...