Thursday, August 16, 2018
Eskom’s bonds face suspension on the JSE because the state-owned power utility has failed to publish its interim results, the bourse said in a statement on Monday morning. The JSE’s rules require companies whose shares or bonds trade on its systems to produce financial results every six months. Eskom’s interim results...
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...
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...