ELLIS MNYANDU, Cape Town | Monday 10.00am SOUTH Africa’s newly introduced inflation target of three to 6% will not hurt economic growth over the next three years, says director-general of finance, Maria Ramos. She said if South Africa had chosen a tighter band, it would have had to raise interest rates in the near-term in […]

THE Reserve Bank is expected to hold interest rates steady at this week’s monetary policy committee (MPC) meeting on Wednesday, analysts said on Tuesday. But they added the beneficial impact of the country’s investment upgrade from Standard & Poor’s last week might give it some scope to ease rates further in the near term. The […]

RWANDAN Prime Minister Pierre-Celestin Rwigema resigned from his post on Monday amid mounting accusations of financial impropriety. “Rwigema has offered his resignation in a letter addressed to President Pasteur Bizimungu,” a senior aide to Bizimungu said. Rwigema, a Hutu, became Prime Minister in October 1995 and replaced Faustin Twagiramungu — another Hutu now in exile […]

THE South African National Editors’ Forum appears to have won a victory in its struggle with the Human Rights Commission over media racism. Sanef, together with the editors of several other publications, met with HRC chairman Barney Pityana on Tuesday morning. Subpoenas forcing the editors to appear at HRC hearings on media racism were withdrawn […]

BANGLADESH is likely to be granted test status making it the 10th test match playing nation, says Ali Bacher, the head of the development committee of the game’s top international body said. “It is now a mere formality,” Bacher, chief of the International Cricket Council’s development committee, told reporters at the weekend. “The development committee […]

THE tariffs on national toll roads will increase by an average of 6,47%, effective from March 1, the SA National Roads Agency announced on Monday. SANRA chief executive officer Nazir Alli said about R9-billion will be spent over the next few years to build new roads and upgrade existing roads. The agency manages approximately 7000km […]

THE country’s trade surplus fell to R1,76-billion ($279-million) in January from R3,56-billion ($565-million) in December, according to Customs and Excise figures released on Tuesday. Imports fell to R11,8-billion in January from R12,1-billion in December. Exports fell to R13,56-billion from R15,66-billion. Economists said that even though the surplus has narrowed compared to December, it is a […]

NAMIBIA’s Ongopolo Mining has agreed to acquire troubled copper miner Tsumeb Corporation which fell into liquidation nearly two years ago, Tsumeb’s creditors said on Tuesday. “This compromise, which was accepted by 99,9 of the creditors, will be submitted to court and the sanction date will be [March 10],” liquidator Des Mathews said. Mathews said all […]

FINANCE Minister Trevor Manuel has reduced interest rates on outstanding tax, excise duties and VAT, with effect from March 1. The South African Revenue Service said in a statement on Tuesday that interest charged on tax not paid by the prescribed date of payment will fall from 14,5% to 13% a year. The interest rate […]

SUSPECTED Wemmer Pan serial killer Cedric Maupa Maake was found guilty of five counts of murder, five counts of rape, four of armed robbery, two of attempted murder and two of illegal possession of a firearm and ammunition in the Johannesburg High Court on Tuesday. Judge Geraldine Borchers is still to deliver judgment on a […]