Brent Meersman takes a look at the revival of Athol Fuggard’s play, <i>Sizwe Banzi is Dead</i> at the 2006 National Arts Festival.
Speaking during Kumba Resources’ first-half results presentation on Wednesday, chief executive Dr Con Fauconnier said most mines were still running despite the current strike action and that the company was still managing to meet the demands of customers.
A spokesperson from the South African Reserve Bank has confirmed Wednesday’s Monetary Policy Committee meeting had started and everything is "running according to schedule". A survey of 13 economists by I-Net Bridge has found that the consensus forecast is for a 50 basis point rate-hike on Thursday.
Despite an increase in interest rates on June 8, money-supply numbers for June, published by the Reserve Bank on Monday, showed little impact of a slowdown in demand and raised the spectre of a definite rate rise on Thursday. "June’s year-on-year M3 growth, at 23,07%, remains high," said research house RLJP.
Mortgage advances by the monetary sector increased by 29,8% year-on-year in June 2006, which is down from the 30% level it has hovered at since March to May, and potentially indicates the early stages of a downward trend in demand for housing, according to analysts.
The Indian High Commissioner to South Africa, Satyabrata Pal, said on Thursday that a wake-up call was needed on economic relations between South Africa and India. Pal listed numerous areas of substantial growth in India where South African companies could come to the party, but were not doing so.
South Africa’s inflation outlook has become "complicated" as South Africa is dependant on imported oil and this will place pressure for further rate hikes, say Moody’s researchers Dr Ruth Stroppiana and Paul Guest. According to Absa’s chief economist, the country could be in for another 200 basis-point rate rise.
Murray & Roberts group chief executive Brian Bruce said on Monday that the company has reorganised leadership responsibilities in the run-up to the Soccer World Cup 2010, adding that critical areas of the Gautrain project should be ready in time for the tournament.
World Bank President Paul Wolfowitz urged the G8 +5 leaders, which includes South Africa, over the weekend to reach an agreement in the faltering Doha round trade talks when they meet in St Petersburg on July 17. The Doha round has been reeling against the ropes after talks in Geneva in the first week of July ended without a deal.
South Africa’s Minister of Labour Membathisi Mdladlana said on Thursday at the 19th Annual Labour Law Conference in Sandton that the recent importing of skills by Sasol indicated that it was not just job creation that was a fundamental problem in South Africa, but also a shortage of skills.
Speaking during the July update on the government’s programme of action for 2006, the second report back since the State of the Nation address, Public Enterprises Minister Alec Erwin said in Pretoria on Tuesday that all of the programmes of the economic and investment cluster were "well on track".
South Africa’s production price index (PPI) for May 2006 was slightly better than forecast, but the historic nature of these statistics are not likely to fool the market. PPI for May was recorded higher at 5,9% from 5,5% before and 0,4% up from 0,1% on a monthly basis.
The recent hawkish statements by the central bank on inflation seem to have been backed up as the consumer price index excluding mortgage rate changes for metro and other areas, which is used by the South African Reserve Bank for its inflation target, was up 4,1% year-on-year (y/y) in May after a 3,7% y/y increase in April, according to Statistics South Africa numbers on Wednesday.
Tradition, the world’s third-largest interdealer broker, is entering the fray in the South African marketplace. It says South Africa offers real potential for their business, but also feels it is unfair that the country suffers under the weight of its emerging-market status.
A deadlock has resulted in the aftermath of the recent pensions funds adjudicator case against Old Mutual. The adjudicator ruled against Old Mutual in late May in regard to the deduction of a benefit paid to a client on early withdrawal from an endowment policy.
The recent 50 basis point rate increase in South Africa has had mixed responses across the board, but none more so than among foreigners, who have seemingly started voting with their feet. Brait economist Colen Garrow says non-residents have been sellers of equities for four consecutive days now, and this needs to be monitored.
The JSE Limited’s listing attracted plenty of interest on Monday as the exchange now joins an elite club of listed bourses worldwide. Examples of bourses that have listed on their own exchanges include the London Stock Exchange, the New York Stock Exchange, Deutsche Borse, Nasdaq, Euronext and the Australian Stock Exchange.
The South African Revenue Service (Sars) reported that in less than 24 hours since the electronic filing facility for individuals went live on the internet, more than 1 500 taxpayers logged onto their website to register as users or to submit their income tax returns.