South Africa | - Part 91

South Africa’s rand steady before Fed statement

JOHANNESBURG (Reuters) – South Africa’s rand steadied against the dollar early on Wednesday, with markets waiting for the U.S. Federal Reserve’s policy statement for clues on when the Fed will hike interest rates.The rand was also under pressure after optimism provided by a narrowing of the current account deficit in the fourth quarter of 2014 was overshadowed by signs of foreign capital flight.At 0615 GMT the rand was trading at 12.3735 to the dollar, not…

African Market Watch: Tuesday, 17th March 2015

Posted on by The Editorial Team

BRVM [he Regional Stock Exchange, Cote d’Ivoire] BRVM (The Regional Stock Exchange of eight West Africa) closed its trading session this Tuesday, lower than the previous day. BRVM 10 index decreased from 268.67 to 267.74 points, a drop of 0.35% and BRVM Composite index lost 0.25% to 264.21 against 264.86 points previously. The traded value is XOF 714.02 million against XOF 1.21 billion last Monday. Equity Market capitalization is XOF 6,519.64 billion and the top security…

South Africa’s current account deficit narrows as exports pick up

Posted on by The Editorial Team

PRETORIA (Reuters) – The shortfall on South Africa’s current account deficit narrowed more than expected in the final quarter of 2014 as exports rose on reduced strike activity and improved conditions in some export destinations, the central bank said on Tuesday.In its latest quarterly bulletin, the South African Reserve Bank said the more competitive exchange value of the rand during the fourth quarter had also helped ease the deficit.The deficit shrank to 5.1 percent of…

South Africa’s Q4 spending growth slows to annualised 0.3 pct

Posted on by The Editorial Team

PRETORIA (Reuters) – Spending in South Africa grew at an annualised 0.3 percent in the fourth quarter of 2014 after rising 3.2 percent in the prior quarter, with slowed government spending offsetting accelerated growth in household spending, the central bank said on Tuesday.The Reserve Bank said in its quarterly bulletin that spending by the government increased at an annualised 1.0 percent in the final quarter against 1.4 percent in the third quarter.However, household spending grew…

South Africa mining assets up for sale should go to local companies: minister

Posted on by The Editorial Team

LONDON (Reuters) – Anglo American and other companies looking to sell some of their mining assets in South Africa should sell to national champions, or companies owned by local communities and by their workers, South Africa’s mining minister said on Monday.Anglo American is looking at selling some of its coal assets in South Africa and has been considering options for its Rustenburg platinum mines.â€œAt the moment, for example, Anglo American is looking to dispose of…

South Africa expects to start granting shale licences later this year

Posted on by The Editorial Team

LONDON (Reuters) – South Africa’s mining minister said on Monday he expected to start issuing shale exploration licences later this year.”At the moment we are going through the consultation process (with stakeholders such as communities),” Ngoako Ramatlhodi told Reuters on the sidelines of the Chatham House extractive Industries in Africa conference.”We should finish the consultations by the middle of this year and that will enable us to issue licences.”Earlier in the day, Royal Dutch Shell…

South Africa’s rand softens ahead of current account data

Posted on by The Editorial Team

JOHANNESBURG (Reuters) – South Africa’s rand was slightly softer against the dollar early on Tuesday with scope to weaken further should a central bank report show a wider-than-expected current account deficit.The local unit tends to be hit harder than its peers when investors bail out of emerging markets which offer higher yields but are perceived to carry greater risk.At 0632 GMT the rand traded at 12.4180 to the dollar, down 0.19 percent from where it…

« 1 … 89 90 91 92 93 … 95 »