South African Airways' (SAA) profits fell by 90% from R648-million last year to R65-million in the past financial year, the company said on Thursday. SAA chief executive Khaya Ngqula said: ''We got what we deserved ... We have no one to blame.'' He announced that SAA plans to launch its own low-cost carrier by the end of the year.
South Africa can afford a higher inflation target than the 3% to 6% range currently set, and 5% to 7% would be ideal, Standard Bank group economist Dr Iraj Abedian said on Tuesday. ''If the target range cannot be adjusted upwards, at the least it should not be lowered,'' he said.
The South African government has ''noted and accepted'' the Zimbabwean government's explanation of remarks by its information minister -- who described South Africans as ''filthy, recklessly uncouth and barbaric''.
The leader and last remaining member of the Symbionese
Liberation Army -- a radical group that committed politically motivated crimes in the United States in the 1970s -- was arrested in Cape Town on Friday evening.
Reserve Bank governor Tito Mboweni criticised the media on Thursday for inaccurately reporting his remarks, while also calling on black financial professionals to put something back into their communities.