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/ 5 December 2005
The South African residential property market continues to be buoyant, although the growth in house prices has eased substantially from last year’s peak, Standard Bank economists Elna Moolman and Gina Schoeman said in the latest residential
property gauge. The economists noted that the macroeconomic environment and consumers’ sound balance sheets remain supportive of a firm housing market.
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/ 30 November 2005
The electricity supply to consumers in the Western Cape was interrupted twice in November — but the Koeberg nuclear power station was not the cause of the supply interruptions, the Department of Public Enterprises said on Wednesday. ”On both occasions, Koeberg reacted exactly as it was designed to do,” the department said.
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/ 25 November 2005
The real growth rate of the South African economy is expected to moderate next year, but remain at or above 4% for four years in a row, Econometrix economist Azar Jammine told a media briefing on economic prospects hosted by Noah Financial Innovation on Friday.
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/ 25 November 2005
The rand is forecast to remain stable against the dollar over the next three years, but depreciate on a trade-weighted basis, as the United States current-account deficit leads to dollar weakness, Econometrix economist Azar Jammine told a media briefing on economic prospects on Friday, hosted by Noah Financial Innovation.
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/ 22 November 2005
Rather than worry about how to get growth going, people should be worrying how to make the most of a South African economy that is "pumping", South African Reserve Bank Governor Tito Mboweni said on Monday. He was speaking at a media conference following a business round table with the government.
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/ 18 November 2005
The unemployment rate for youths aged between 16 and 25 is 52% in South Africa, while in the Western Cape it is 49%, compared with a national average for all ages of 26,5%, Minister of Finance Trevor Manuel said on Thursday evening in Cape Town. "A large chunk of the answer to unemployment lies in upgrading the available skills," he said.
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/ 16 November 2005
Health-services provider Network Healthcare Holdings (Netcare) on Wednesday reported a 34,4% rise in fully diluted headline earnings per share to 58,6 cents per share for the year ended September 30 2005, from 43,6 cents a year ago. The group declared a final capital distribution of 15 cents per share.
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/ 9 November 2005
A deliberate policy of depreciating the rand could have undesirable effects, South African Reserve Bank Governor Tito Mboweni told the Bureau for Economic Research conference in Somerset West on Wednesday. "One of the calls frequently made is for deliberate depreciation of the exchange value of the rand," Mboweni said.
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/ 3 November 2005
South African house prices increased by 15,8% year-on-year in October 2005, from a 17,6% increase in September, according to South African commercial bank Absa’s monthly house-price index released on Thursday. This was the lowest year-on-year increase since August 2002, when it was 15,9%.
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/ 31 October 2005
The Department of Minerals and Energy is likely to announce a cut of 22 cents per litre cut in the retail petrol price for the month of December, if the rand exchange rate and international petroleum prices remain at Friday’s levels. The retail petrol price is adjusted monthly on the first Wednesday of the month.