Automobile manufacturers operating in South Africa are planning to more than double their worldwide exports by 2005, from 120 000 cars in 2002 to 250 000, with the US market taking an increasingly larger share.
The JSE Securities Exchange South Africa (JSE) is expected to open flat to slightly weaker on Monday, taking its cue from the currency. Traders said that with no major economic data due out this week, the market is likely to look to the rand for direction.
The retail petrol price in South Africa should drop by 18 cents per litre (c/l), the latest data from the
Department of Minerals and Energy shows. An official announcement is expected on Monday, December 2.
Nedcor's offer to NIB minority shareholders Banking group Nedcor has announced its offer price to acquire the interests of minority shareholders in its subsidiary, Nedcor Investment Bank Holdings Ltd (NIB).
Shaken by the "savagery" of market reaction to a leaked black empowerment charter, the government has elevated the issue of empowerment in mining beyond the exclusive remit of Minister of Minerals and Energy Phumzile Mlambo-Ngcuka.
SA's private sector land freight volumes rose by 8% year-on-year in September to 45,754 million metric tons, while the volume of goods transported by state-owned Transnet declined by 1% y/y to 14,686-million metric tons.
Government is fast-tracking its partial privatisation drive this year through major changes to arms manufacturer Denel - including the sale of a third share in the business - and the drawing in of private-sector skills in running South Africa's main port at Durban.
South African white maize on the JSE Securities Exchange South Africa rocketed on Friday on the back of the continued lack of widespread rain in the country's maize belt, at a time when farmers are trying to sow maize.