South African average house prices fell for the first time in eight years, pushing the March year-on-year inflation to a negative 5,2%, new data showed on Tuesday. The negative growth recorded for the month follows three straight months of flat growth and pushed the average house price to R550 000 from R570 000 last month.
Nearly half of South African private businesses say a lack of skills is the biggest constraint to business growth in this country, a new survey showed on Wednesday. This the second straight year that workforce issues have been cited as the greatest impediment to growth in the Grant Thornton annual <i>International Business Report</i>.
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/ 19 February 2008
The People’s Budget Coalition has reiterated its call for a basic income grant as part of its national budget wish list. Finance Minister Trevor Manuel tables the national budget on Wednesday. The coalition comprises the Congress of South African Trade Unions, South African National NGO Coalition and the South African Council of Churches.
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/ 18 February 2008
South African stocks were sharply higher at midday on Monday led by banks ahead of Absa’s year-end earnings, while stronger overseas markets and firm metal prices spurred broad-based gains, traders said. By noon, the broader all-share index had gained 1,27% to 28 867,61, lifted mainly by a 2,36% gain in banks.
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/ 13 February 2008
South African stocks were slightly lower at midday on Wednesday as heavily weighted miners continue to falter on falling metal prices, while other investors refrained from making any large moves ahead of Wall Street opening. At midday, the broader all-share index had was off 0,18% at 28 533,810.
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/ 12 February 2008
The JSE held on to gains at midday on Tuesday as investors chased after bargains following Monday’s sharp losses amid strong metal prices and firmer overseas markets. By 11.59am, the broader all-share index had added 0,82% to 27 860,790 thanks to a 3,27% gain in the platinum-mining index.
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/ 16 January 2008
The South African competition watchdog the Competition Commission on Wednesday slammed bread price increases, saying the ”blatant profiteering is an insult to the nation”. Bread maker Tiger Brands on Monday implemented price increases on its Albany bread brand.
South African stocks extended gains at midday on Friday, bolstered by strong gains among miners amid rampant commodity prices, while a healthy start in European markets added to the upbeat sentiment. But volumes remained thin as some players remained on the sidelines ahead of the United States December non-farms payrolls data due out later in the day.
South African stocks remained weak at noon on Thursday in line with overseas markets, but a rally among miners helped soften the blows as gold continues to lead the commodities stampede. By noon on the JSE, the all-share index was 0,82%, or 239,2 points, weaker at 29 050,940, after dipping more than 350 points just after the opening.
South African stocks were sharply higher at noon on the first trading day of 2008, but volumes remained low as most traders are still on their festive-season break. By noon on the JSE, the all-share index was 1,05% higher. Resources added 1,24%, the platinum-mining index was up 1,88% but the gold-mining index was flat.