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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>There was no need for further relaxation in foreign exchange controls on individuals or companies as no-one had been to the Treasury to request that the limits be raised, according to Finance Minister Trevor Manuel. Currently individual limits are set at R750Â 000, while pension funds can only invest 15% of their assets outside South Africa and unit trusts are limited to 20%.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Eskom Holding’s planned pilot pebble-bed modular reactor got the government green light in Wednesday’s national Budget. Minister of Finance Trevor Manuel said infrastructure spending by public enterprises is expected to grow strongly over the years ahead, "complemented by rising spending on public assets through public-private partnerships of various kinds".
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>South Africa’s Transport department is to receive allocations of R250-million in the 2004/05 financial year, R315-million and R320-million in the following two years "to initiate the taxi recapitalisation programme" and to support public transport services and infrastructure".
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/ 23 February 2005
The strong rand hurt foreign inbound tourism into South Africa in 2004, the South African Treasury said in its Budget Review on Wednesday. "Rand strength probably contributed to the fall in South Africa’s attractiveness as an international tourist destination from a ranking of 28th in terms of tourist arrivals in 2002 to 30th today," the Treasury said.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>The South African Treasury said in its Budget Review on Wednesday that there was a need to address the national logistics chain so as to reduce the cost of doing business in South Africa, improve customer service, improve the quality of the asset base and meet social and developmental objectives.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Hailing the Grammy Award for Ladysmith Black Mambazo and the Golden Bear award for <i>uCarmen eKhayelisha</i>, Minister of Finance Trevor Manuel said on Wednesday in his 2005/06 Budget Speech that it is entirely fitting that the new season of hope and rising confidence of the nation should be proclaimed in music and in theatre.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>As part of its broader initiative to encourage and support small-business development, the South African government has granted further income tax relief for the sector in the 2005 Budget, as well as extending the category of eligible small businesses to include personal services and manufacturing.
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/ 23 February 2005
Somali Prime Minister Mohammed Ali Gedi has postponed a planned fact-finding trip to Somalia this week due to transport hitches, the lawless country’s exiled transitional government said on Wednesday. Gedi had been due to embark on Wednesday on his first trip to Somalia since becoming premier last year.
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/ 23 February 2005
Global resources group Anglo American is confident about the prospects for its 2005 financial year as reflected by the strong 30% increase in its total dividend per share for the 2004 year, Anglo Financial Director Tony Lea said during a conference call on Wednesday.
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/ 23 February 2005
The JSE Securities Exchange (JSE) was weaker at midday on Wednesday, dragged down by resources heavyweight Anglo American, which released below consensus results, and weaker world markets. Dealers said that the market’s focus was on Minister of Finance Trevor Manuel’s 2005/06 Budget speech at 2pm.