Business

Mboweni defends inflation policy

South African Reserve Bank (SARB) Governor Tito Mboweni defended the country's inflation targeting framework on Thursday, vowing that the central bank will continue to make decisions based on international best practice.

Developing states hit out at US zero tariff plan

Developing countries on Monday rejected a US call at world trade talks to abolish tariffs on industrial and consumer goods by 2015, saying it would hurt poorer states.

Workers claim victory as strike ends

A wage agreement signed in Kempton Park between the SA Local Government Association (Salga) and the SA Municipal Workers Union (Samwu) on Friday has brought the three-week-long municipal strike to an end.

SA’s FirstRand to acquire Saambou

SOUTH AFRICAN banking group FirstRand has made an offer to acquire troubled Saambou Bank and would not be working with the government in a public-private partnership as originally thought, Saambou's curator said.

Deutsche settles dispute with one-billion rand

Deutsche Bank will do one billion rand worth of deals that will be positive for South Africa's foreign reserves under a secret agreement.

Bidvest abandons bid for UK’s Brake

South African diversified industrial company Bidvest Group Ltd said it was dropping its offer for British food group Brake Bros Plc after the UK government referred its bid to the Competition Commission.

Manuel dismisses currency peg suggestion

Finance Minister Trevor Manuel rejected a suggestion made in Parliament on Friday that South Africa look to fix its exchange rate rather than aggressively target inflation.

Cosatu march on SABC, Media24

About 2 000 Congress of SA Trade Union members marched on the SA Broadcasting Corporation and Media24 on Tuesday to protest against the pair's ''anti-labour'' news reporting.

Baghdad trade fair draws UK firms

The biggest group of British companies since the Gulf War plans to travel to the Baghdad Trade Fair in November, brushing off threats of war and defying government advice to steer clear of Iraq.

Grim outlook for Bali tourism

The precedent of a tourist massacre in Egypt in 1997 suggests Indonesia will suffer a 20% drop in foreign visitors following last month's deadly bombing on the resort island of Bali, the World Bank said in a report published on Wednesday.

IMF tells Malawi to massage its budget

The International Monetary Fund has told Malawi's government to sort out some ''pressure points'' in its current budget before lending to the impoverished southern African nation can be resumed, a report said on Wednesday.

Blackmail charges fly as Swiss plan gold fund vote

Switzerland's generosity and humanitarian tradition will be put to the test next Sunday when voters decide how to use billions of dollars rolling in from selling off part of the country's huge gold reserves.

Xstrata profits up

Mining and metals firm Xstrata Plc hit forecasts with its first-half profits on Monday and moved to soothe investor worries about the future of the mining industry in South Africa.

Zimbabwe set to tighten forex controls, say bankers

Zimbabwe's government is expected to tighten foreign exchange controls in the next two weeks as the country battles with a growing shortage of hard currency, private banking officials said on Tuesday

R260-million to boost SA’s competitiveness

At least R260-million will be spent this year on research and development to boost the competitiveness of South African industry, the National Research Foundation said.

Aids does not spell doomsday for SA

South Africa's economy will be affected by the impact of HIV-Aids, but it would be wrong to forecast a doomsday scenario.

25 years on, PC sales top one billion mark

Sales of personal computers breached the one billion mark in April, 25 years after they first hit the market, according to an industry monitor on Monday.

Iraqi Kurds want to double share of oil revenues

Iraqi Kurds' dreams for a post-Saddam Iraq include doubling their share of oil revenues, the speaker of the regional parliament said on Monday.
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