Lower prices are good insofar as inflation is concerned but they suggest that economic troubles lie ahead
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South Africa’s biggest banks, and most of their foreign counterparts, are no longer up for prosecution following a competition appeal court order
After nearly six decades of independence the need for real change in the country hasn’t diminished
Policymakers have been warned to remain disciplined as economies navigate headwinds — no matter how much it hurts
Analysts say the Reserve Bank could start tightening monetary policy as early as next month
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The Zupta decade: Governments and global corporates, banks and consultants must stop enabling money laundering
Standard Chartered has started the year strongly, but faces more challenges as the world economy struggles through its worst downturn in decades.
Old Mutual has declined to comment on a weekend report that it is planning to offload its 53% holding in South Africa’s Nedbank.
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/ 14 October 2008
Global markets and the JSE continued to clock up losses with the All Share Index now below levels seen two years ago.
British companies doing business in Zimbabwe must find the noise from their government and the international community disconcerting.
Last month British Prime Minister Gordon Brown urged British companies to stop investing in Zimbabwe, saying his government was preparing sanctions.
President Robert Mugabe rejected fresh calls for economic reform at a rare meeting with the heads of Zimbabwe’s largest business groups this week.
South Africa’s producer price inflation (PPI) accelerated unexpectedly to 12,4% year-on-year in April, increasing the possibility of a bigger than previously expected interest-rate hike in June. Statistics South Africa said on Thursday headline PPI — which represents domestic output — accelerated from an upwardly revised 11,9% in March.
South African mobile services operator MTN said on Friday that it had not received any "specific proposal" from any company regarding a takeover of the company. MTN was responding to a report that India’s Bharti Airtel is considering a bid for the company.
Britain’s FTSE 100 index dipped by mid-session on Monday as concerns of a looming United States recession offset gains in oil shares, HSBC and potential bid target Friend Provident. By 1201pm GMT, the FTSE 100 was down 6,6 points at 5 693,3, well off its day’s high of 5 718,8.
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/ 28 February 2008
South Africa’s consumer inflation, which jumped unexpectedly in January, raised the risk of further monetary tightening despite worries over slowing economic growth. Statistics South Africa said on Wednesday that targeted CPIX (consumer inflation less mortgage costs) stood at 8,8% year-on-year in January compared with 8,6% in December.
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/ 26 February 2008
South Africa’s economic growth jumped unexpectedly in the fourth quarter of 2007, keeping expansion for the year near a two-decade record at 5,1% as buoyant corporates outweighed slower consumer spending. Africa’s biggest economy has remained resilient despite higher interest rates, although growth is likely to slow in 2008.
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/ 31 January 2008
South Africa’s crippling power crisis will not put off investors nor limit its ability to stage the 2010 Soccer World Cup, Public Enterprises Minister Alec Erwin said on Wednesday. Rolling power cuts have plagued homes, businesses and the mining industry in South Africa for weeks and are likely to continue for about five years, according to state power utility Eskom.
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/ 11 January 2008
Kenya’s opposition said on Friday it planned to restart protests across the East African nation against President Mwai Kibaki’s disputed re-election after the failure of African Union mediation. Kibaki’s government has made clear it will not tolerate opposition marches. Previous protests have led to bloody clashes between opposition supporters and security forces.
The bitter dispute over the Kenyan presidency could have long-lasting economic repercussions, observers warn, fearing that financial turmoil could quickly derail an, until now, booming economy. Considered an investor-friendly haven of relative stability on its way to becoming an ”African Tiger”, Kenya is experiencing its worst political unrest in 25 years.
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/ 19 December 2007
South African consumer inflation raced further away from the central bank’s band in November, backing the case for another interest rate rise, despite a slowdown in retail sales. The targeted CPIX gauge — which strips out mortgage costs — jumped to 7,9% year-on-year from 7,3% in October.
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/ 5 December 2007
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South Africa’s economic boom looks set to persist but concerns linger over the direction of policy after the crucial African National Congress (ANC) conference, which seems likely to choose Jacob Zuma as the ruling party’s new leader. Economic growth jumped to 5,4% in 2006 — its fastest rate since 1981 — and wealth is spreading to a burgeoning black middle class.
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/ 23 November 2007
The dollar hit a new record low against the euro on Friday in a market worried over lower forecasts for United States growth, dealers said. Europe’s single currency struck a new record peak of ,4922 in morning Asian trade, up from the previous record of ,4875 reached on Thursday. The unit was created in 1999.
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/ 2 November 2007
The dollar struck a new all-time low against the euro on Friday as technical factors offset positive United States jobs data, dealers said. In European trade, the euro rose to a record $1,4525. It later fell back to $1,4484, compared with $1,4422 in New York late on Thursday.
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/ 25 October 2007
South Africa’s producer price index (PPI) rose by 9,4% year-on-year (y/y) in September, unchanged from August, Statistics South Africa data on Thursday showed. The PPI declined 0,7% on a monthly basis after August’s monthly increase of 0,7%. PPI was at 9% y/y a year ago.
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/ 19 October 2007
Britain’s Northern Rock on Friday announced the resignation of chairperson Matt Ridley following a turbulent period at the crisis-hit bank. He will be succeeded by Bryan Sanderson, a former chairperson at British-based emerging markets bank Standard Chartered and healthcare firm Bupa, the company said in a statement.