Rand steady, range bound

The South African rand was steady against major currencies in late trade on Thursday, amid mixed flows throughout the day.

Plats shine on lacklustre JSE

The JSE Securities Exchange South Africa (JSE) was drifting in the red at midday on Thursday as a strong rand took its toll on a market from which buyers were absent.

JSE flat, lacking drivers

The JSE Securities Exchange South Africa was flat in noon trade on Wednesday, with no fresh news to draw buyers into the market. Gold was the only sector to really shine on a lacklustre bourse.

SARB: SA’s banking system remains sound

South Africa's banking system remains sound, the South African Reserve Bank said on Tuesday.

Higher than expected CPIX figure released

South Africa's CPIX inflation (headline inflation excluding mortgage costs) was up 6,6% year-on-year for metro and other areas in July 2003 compared with 6,4% in June, Statistics South Africa said on Tuesday.

Rand to be stronger next year

Contrary to the hopes of exporters, but in line with official policy, Metropolitan economist Rejane Woodroffe expects the rand to be stronger next year than this year. Her forecast is for the rand to weaken to R8,30 per dollar at the end of this year, but then strengthen to R7,80 at the end of next year.

Rate hikes not solely to blame for slowdown: SARB

The 2002 rate hikes were not solely or even mostly to blame for the slowdown in South Africa's economic growth rate, South African Reserve Bank (SARB) chief economist Ernie van der Merwe told a media briefing on Tuesday.

China’s investment fever too high

A senior Chinese minister warned recently that the world's fastest growing economy is in danger of overheating as expansion outstrips power supplies, threatens production quality and raises the risk of oversupply.

Government intends to cap petrol stations

The South African government has signalled its intention, through new legislation currently before Parliament, to cap the number of retail petrol outlets based on consumption levels. It is estimated that about 2 000 of the existing 5 000 outlets are already unsustainable.

JSE weaker in dead quiet trade

The JSE Securities Exchange South Africa was weaker at midday on Monday, taking its cue from world markets. Volumes were extremely light due to the bank holiday in the United Kingdom and dealers said that lack of liquidity was also playing a role in any moves.

Rand the main focus of mixed JSE

The JSE Securities Exchange South Africa presented a mixed bag in noon trade on Friday, although the market's main focus was on the slightly weaker rand.

WiFi seeks hotspots in SA

Labelled "explosive" by Microsoft boss Bill Gates, wireless networking arrived in South Africa this week, with Telkom and M-Web announcing plans to pilot wireless public areas or "hotspots".

Transtel calls for alternative plans for phone operator

Transtel and Eskom Enterprises, which will own the 30% state owned enterprises (SOE) stake in South Africa's proposed second network telephone operator (SNO), say the lack of certainty and inadequacy regarding certain issues surrounding the SNO lead them to believe alternative plans should be investigated.

Motor-industry strike averted

After two months of declared disputes, failed compulsory mediation and a strong threat of a strike attempt, the Retail Motor Industry and the three relevant trade unions on Thursday ratified a new wage agreement for the sector.

Sobig.F virus clogs e-mail boxes

A new strain of one of the most virulent e-mail viruses ever spread quickly worldwide on Tuesday morning, causing fresh annoyance to users worn out by last week's outbreak of the Blaster worm.

Amendments to Skills Act to ensure that Seta’s deliver

The proposed amendments to the Skills Development Act is to ensure that Sector Education and Training Authorities (Setas) deliver on skills, Labour Director-General Advocate Rams Ramashia said on Tuesday.

Towards SA’s first oil barons

The Sable oilfield, where the Petroleum Oil and Gas Corporation of South Africa (PetroSA) started pumping last week, holds out the possibility of being South Africa's biggest broad-based black economic empowerment deal yet.

96% of SA firms rate info security as top priority

Ninety-six percent of South African organisations rate information security as important to the success of their organisation, a survey by Ernst & Young has found.

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