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Rand has good chance of strengthening, say analysts

Despite a number of ongoing risks and structural imbalances in South Africa, the rand has a very good chance of strengthening impressively for the rest of this year and into 2009, say market analysts ETM. They say, however, that levels approaching 6,50 to the dollar -- should they be reached -- would probably be difficult to sustain.

US job losses deepen as employers cut 80 000 posts

United States employers cut a surprisingly large 80 000 jobs in March, marking the biggest decline in employment in five years, a government report showed on Friday. The mounting job losses swelled the national unemployment rate to 5,1% last month, compared with 4,8% in February.

Fed’s rate decision buoys market

The JSE remained in the black by noon on Wednesday, with a trader explaining that the United States Federal Reserve's rate cut was adding buoyancy to the market. "The Fed's rate decision, which saw rates decline from 3% to 2,25%, is still adding buoyancy to the JSE," he said.

JSE remains down, investors eye Fed

The JSE was little changed at its softer levels by midday on Tuesday as investors took to the sidelines ahead of the United States Federal Open Market Committee's rates decision later in the day. By noon, the JSE's broader all-share index was down 0,86%. Resources fell 2,26%, the gold mining index dropped 1,76% and the platinum mining index shed 0,76%.

Fed move continues to weigh on JSE

An emergency move by the United States Federal Reserve to cut its discount rate has continued to weigh on markets, sending the JSE below the 30 000-level by midday on Monday. The Fed's move to cut its discount rate, its lending rate to financial institutions, to 3,25% from 3,5%,

Global markets slump on US credit woes

Asian and European stock markets plunged on Thursday as investor sentiment was hammered by resurgent credit concerns, the plunging dollar and record high oil prices, dealers said. Global financial markets were also roiled after a troubled fund backed by United States private equity giant Carlyle said it expected its creditors to seize its remaining assets.

Global markets rally on huge cash injection

Asian and European equities surged higher on Wednesday, mirroring an overnight rebound on Wall Street after major central banks announced a massive cash injection for stressed financial markets. However, dealers voiced scepticism over whether the concerted central bank action would head off the global credit crunch and bring stability to choppy world stock markets.

World stock markets slide on US recession worries

A global equities sell-off gathered speed on Friday as nervous investors were hit by growing United States recession fears, a plunging dollar and record oil prices, dealers said. European markets fell after sharp losses earlier in Asia and overnight on Wall Street following more bad news on the US subprime home-loan crisis.

New twists ahead in France’s rogue-trader saga

A new court battle will be held on Monday over the detention of French rogue trader Jerome Kerviel. The decision by a Paris appeals court on Friday to back a prosecution demand that the 31-year-old trader be held in custody was the latest twist in the worst investment banking scandal in history.

G7 finance chiefs see growing risks to global economy

Top world finance ministers warned on Saturday that the global economy faces growing threats from a United States housing slump and credit crunch. The finance chiefs from the Group of Seven (G7) industrialised nations said their economies were set to lose steam in the near future but remained fundamentally solid.

JSE boosted by miners, ignores CPI

The JSE ignored CPI data that came in slightly higher than market expectations and continued to gather momentum by midday on Wednesday on news that power had been restored to the mining industry. December CPI came in at 9% year-on-year, while the market expected 8,9%, and CPIX came in at 8,6%, against the expected 8,5%.

World stocks surge

Global share prices rocketed on Thursday, though fears of an economic slowdown lingered as Société Générale revealed a massive €4,9-billion fraud-related loss it attributed to one of its traders. Europe's leading share indices surged in morning deals, with gains of between 4% and more than 5% after a recovery on the Japanese market.

Economic woes dampen Davos party

The annual Davos gathering of the world's political and business elite opened on Wednesday with the fragile state of the world economy and stock-market turmoil casting a pall over the glitzy get-together. In recent years the annual meeting in the Swiss ski resort has been held against a backdrop of bumper corporate profits, strong economic growth and tame inflation.

Fed slashes US interest rates

The United States Federal Reserve on Tuesday slashed benchmark US interest rates by three-quarters of a percentage point in an emergency bid to lend support to a US economy some fear is on the verge of recession. The Fed's action took the key federal funds rate, which governs overnight lending between banks, down to 3,5%.

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No ‘I’ in team – but there is an ‘EA’

With internet lag keeping them from global competition, local gamers have settled on a format for EA’s FIFA 2020 allows 11 people to play as a team. And the prize money in local leagues is growing. Eyaaz Matwadia boots up for the first instalment of Gaming Corner

Press Releases

UNISA hosts its first TEDx event

The Elephant in the Room Tedx event at UNISA will help to create meaningful change in South Africa through the power of ideas

SA’s SEZs create decent jobs

The Special Economic Zone programme is used as a critical tool for accelerating the country’s industrial development agenda

The new normal in tourism is business unusual

Innovation and changing trends have kept some tour operators in the green, though most have struggled during the tight lockdown


The Botswana Bureau of Standards (BOBS) invites tenders from reputable companies for the provision of certification services

The Galaxy Z Fold2 smartphone breaks all the rules

The Galaxy Z Fold2 has meaningful innovations that offer users enhanced refinements and some unique foldable user experiences

Adventures, ghost tours and big skies await visitors to the Cape Winelands

All of the CWDM destinations are accessible within a 30- to 120-minute drive from Cape Town, creating real value for money

SingularityU Online Summit to contribute to SME growth in 2020

The global speakers lined up for this year's event will address the challenges and opportunities specifically facing small businesses

Policy priorities lie with urgent economic reforms

Professor Raymond Parsons believes that business and consumer sentiment in South Africa would both benefit from even lower borrowing costs

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