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/ 29 May 2008

JSE stays weak, banks slump

South African stocks remained modestly weaker at noon on Thursday, with banks weighing heavily on a deteriorating inflation outlook after worse-than-expected producer price inflation data and the South African Reserve Bank governor’s comments that the bank was considering a 200-basis-point interest-rate hike.

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/ 21 April 2008

JSE remains firm on world markets

South African stocks hung on to earlier gains at noon on Monday, supported by firmer overseas markets, but the stronger rand and faltering gold prices restricted gains, traders said. By midday on Monday, the JSE’s broader all-share index was 0,77% in the black. Resources were up 1,21%, the platinum-mining index advanced 0,34% but the gold-mining index fell 0,70%.

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/ 6 March 2008

Motsepe makes the Forbes billionaire list

Three South African names appear on this year’s Forbes World Billionaires list, released late on Wednesday. The names include Nicky Oppenheimer, Anton Rupert and mining magnate Patrice Motsepe — this country’s first black billionaire. Nicholas Oppenheimer is placed 173rd on the list, while Rupert is in 284th place and Motsepe is at number 503.

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/ 6 March 2008

Sanlam headline earnings fall, sees tough 2008

South African financial-services firm Sanlam said on Thursday its full-year normalised headline earnings fell 22% due to a slowdown in equity markets in 2007 and compared with high returns in 2006. It also warned of a tough year ahead as interest rates, higher inflation, a power-supply crunch at home and volatility in international financial markets take their toll.

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/ 13 February 2008

JSE slightly lower on miners

South African stocks were slightly lower at midday on Wednesday as heavily weighted miners continue to falter on falling metal prices, while other investors refrained from making any large moves ahead of Wall Street opening. At midday, the broader all-share index had was off 0,18% at 28 533,810.

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/ 22 January 2008

Tales from the dark side …

Weddings in the dark, disgusted tourists and business owners leaving the country are some of the effects Eskom’s power failures are having, according to postings on a website dedicated to the problem. In the first 48 hours of operation, www.eskomstories.co.za has received about 2 000 letters.

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/ 22 January 2008

Power cuts may spook investors

An electricity shortage that has led to frequent power disruptions in South Africa could chase away investors, denting growth and portfolio inflows and weakening the rand. Economists estimate the cost to the economy has run into hundreds of millions of rands, adding to the woes brought on by the falls in financial markets.