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/ 6 February 2006
In recent times, the rand has strengthened to "way beyond desirable levels", according to South African Deputy President Phumzile Mlambo-Ngcuka. Addressing the media in Parliament on Monday, Mlambo-Ngcuka said the country’s recent growth, although welcome, has been "unbalanced".
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/ 1 February 2006
All economists surveyed by I-Net Bridge expect no change in interest rates at the end of the two-day meeting of the South African Reserve Bank’s monetary policy committee (MPC) meeting, which started on Wednesday morning. This is the 13th consecutive MPC meeting at which the majority of economists have forecast no cut in rates.
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/ 25 January 2006
After months of running on a skeleton crew, the Cape Town clothing factory owned by listed manufacturer Rex Trueform officially reopened on Wednesday under a new five-year lease agreement with House of Monatic, a wholly owned subsidiary of black economic empowerment group Brimstone Investment Corporation.
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/ 13 January 2006
London- and South Africa-listed financial-services group Old Mutual is currently counting acceptances received from shareholders of Swedish insurer Skandia for its R38-billion offer for the company, which closed at midnight on Thursday, according to a spokesperson for the group.
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/ 11 January 2006
London- and South Africa-listed financial-services group Old Mutual is likely to unveil a far higher level of acceptances related to its R38-billion takeover offer for Swedish insurer Skandia than the current 64,3% after the tender offer closes at midnight on Thursday.
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/ 11 January 2006
South Africa recorded average house-price growth of 21,9% in 2005, down from the rapid 32,2% average growth seen in 2004, according to the latest Absa house-price index, released on Wednesday. Banking group Absa is expecting house-price growth to slow further in 2006, to between 10% and 12% year-on-year.
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/ 10 January 2006
The countdown for South Africa’s 2006 municipal elections, set to be held on March 1, started in earnest on Tuesday with the publication of the electoral timetable in the Government Gazette, according to chief electoral officer Pansy Tlakula, head of the Independent Electoral Commission (IEC).
There are strong signs indicating a prolonged period of high fixed investment in South African commercial property in the coming years, according to FNB property economist John Loos. Real non-residential property fixed-investment growth is forecast to accelerate to 9% in 2006.
Momentum, the health insurance arm of listed financial services group FirstRand, has appealed to the Competition Appeal Court regarding the Competition Tribunal’s decision to impose a condition on the merger between Momentum and African Life Health, the tribunal confirmed on Monday.
Distell, South Africa’s largest listed wine producer, has launched the first wines under a new brand from its ground-breaking joint venture in the Gansbaai area of the Western Cape, called Lomond Wines. Started in 2000, the Lomond project was experimental, being situated in the southern-most area in South Africa to be planted with vines.