Standard Bank reported a 1,9% dip in annual headline earnings per share in line with its own forecast and declined to give a firm 2009 outlook.
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/ 28 January 2009
Troika Dialog is in talks to sell a 30% stake in itself to South Africa’s Standard Bank through a new share issue, a media report said on Wednesday.
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/ 20 January 2009
South African residential property put in its worst performance in 12 years, the Standard Bank said on Tuesday.
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/ 9 December 2008
All the odds seem to be heavily stacked against South Africa’s goal of halving unemployment by 2014, industry players said late on Tuesday.
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/ 3 December 2008
Chinese mining firms are gearing up to take advantage of the global downturn and seek M&A mining deals at bargain prices next year.
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/ 3 December 2008
Standard Bank has been recognised for its key role in emerging markets by winning 10 awards, including the prestigious African Bank of the Year title.
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/ 30 October 2008
Banking Crisis: Maya Fisher-French looks at how the global meltdown affects your pocket.
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/ 29 September 2008
The Financial Sector Charter is turning banks into developers, writes Maya Fisher-French.
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/ 24 September 2008
Mobile banking has not yet transformed the unbanked but successes are notching up with the right strategies in place, writes Maya Fisher-French
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/ 1 September 2008
An index tracking median house prices in SA fell 1,8% in August from a year earlier as tough financial conditions continued to weigh on the sector.
Standard Bank achieved what it called ”satisfactory” results in the first half of 2008, it said on Wednesday.
For four months now Sihle Mavimbela has had to spend R14 on taxi fare each time he needs to draw cash from an automated teller machine.
The residential property market was unlikely to escape its difficulties in the near term, essentially due to the state of household finances.
The all-share index has been buoyed by resources, but there is no hiding the carnage.
South African firms are resisting the urge to pull out of Zimbabwe despite an increasingly hostile business climate.
SA banks have not been discouraged by the ongoing spate of bombings of ATMs and will continue to provide financial services in remote areas.
The Competition Commission looks to streamline debit order systems, writes Maya Fisher-French.
Founder of the Joy of Jazz festival Peter Tladi tells
Fikile-Ntsikelelo Moya how it all began
South African banking charges were higher than they would be at competitive levels, according to a Competition Commission enquiry report.
Banks confirmed last week that they will refund customers who bought tickets for flights on Nationwide Airlines or concerts by singer Josh Groban using either a debit or credit card.
President Robert Mugabe rejected fresh calls for economic reform at a rare meeting with the heads of Zimbabwe’s largest business groups this week.
Standard Bank Group, 20% owned by the Industrial and Commercial Bank of China (ICBC), will explore global banking acquisition opportunities jointly with its Chinese partner.
Stocks were slightly lower at noon on Tuesday with banks dominating the loser board on inflation worries, but miners capped losses on a weaker rand and firm metal prices, traders said. At 11.56am, the all-share index was down 0,23%, weighed by a 1,70% drop in banks.
In a series of three ATM bombings in less than half a day in Gauteng, gangs of robbers on Friday morning made off with undisclosed sums of cash. In Strijdompark in Randburg, a Standard Bank ATM was blown up at the Motor City Centre, Gauteng police said. ATMs in Atteridgeville and Orange Farm were also targeted.
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.
South African stocks were sharply lower at noon on Wednesday, weighed by miners on falling metal prices and banks after worse-than-expected inflation data.
At noon, the all-share index tumbled 1,26%. Resources fell 2,14%, the gold and platinum mining indices gave up 2,42% and 2,78% respectively.
The JSE extended losses at midday on Friday as profit taking-induced selling on resources offset modest gains among banks and financials, traders said. At 12.03pm, the JSE’s all-share index was down 1,24%, weighed by a 1,75% drop in resources. The gold mining index was off 0.18% but the platinum mining index added 0,17%.
Although the violent nature of crime in South Africa is often highlighted, white-collar crimes are rampant and impact negatively on citizens’ rights. Bribery and corruption were perceived to be the most prevalent crimes, said a South African Human Rights Commission report.
The JSE hit a fresh record high on Thursday, buoyed by miners on firm commodity prices and a weaker rand, but overall the mood was dampened by global inflation worries due to the rising oil price. At noon, the JSE’s all-share index was up 0,98% at 33 230,590 after earlier touching a fresh all-time high of 33 309,820.
South African stocks were slightly lower at midday on Wednesday, but off the worst levels as commodity stocks posted modest gains on higher prices. At 11.58am, the JSE’s all-share index was down 0,13%. Resources were up 0,23%, the gold mining index was fairly flat at +0,03%, but the platinum mining index lost 0,47%.
South African stocks hit another fresh high on Friday morning, boosted by strong gains for resources. At 11.56am, the all-share index was up 0,82%, boosted by a 1,48% rise in resources and a 2,06% gain for the platinum-mining index. Banks were up 0,37% and financials were 0,61% better. Industrial were flat (-0,03%) and the gold-mining index eased 0,80%.
South African stocks remained weak at midday on Tuesday with miners the worst causalities on easing metal prices, while falling overseas markets added to selling pressures. At 12.09pm, the JSE’s broader all-share index was down 0,86%, weighed by a 2,88% drop in platinum miners.