Consumer may switch to property – FNB
Johannesburg – The SA consumer could switch some of their expenditure from consumption to home buying, FNB household and consumer sector strategist John Loos said on Wednesday. “While far from booming, a mildly recovering residential property market, and growing residential stock constraints, may just pose some further ‘downside risk for already – slowing consumer sectors’ [...]
G20 economies grow despite dip in Europe
Paris – Economic growth in G20 countries climbed by 0.5% in the fourth quarter of 2012, slowing only slightly from 0.6% pace recorded in the previous three-month period despite heavy contractions across Europe, preliminary estimates from the CEO showed on Wednesday. For the full year 2012, the Organisation for Economic Cooperation and Development said that [...]
Zambia: Seed trade rules menace to small-scale farmers
Community Technology Development Trust (CTDT), a local civil society organisation says domestication of the draft COMESA Seed Trade Harmonisation regulations will hinder small-scale farmers from participating in the seed business. CTDT country director Charles Nkhoma said domesticating draft COMESA Seed Trade Harmonisation regulations would discourage small-scale farmers as the focus tended to favour the formal [...]
Adcock board rejects Bidvest bid
Johannesburg – Adock Ingram Holdings Ltd.’s board of directors said it won’t propose Bidvest Group Ltd.’s offer for a 60 percent stake in the drug maker to its shareholders. “The timing of the Bidvest proposal is opportunistic,” Adcock said in a statement today. Adcock wasn’t contacted by Bidvest, the company said. Johannesburg – based Bidvest [...]
Rand loses on PMI data
Johannesburg – The rand was slightly softer at midday on Tuesday on lower than expected purchasing managers index (PMI) figures. The seasonally adjusted Kagiso purchasing managers’ index (PMI) lost 4.3 points to 49.3 in March after moving above the key 50-point mark to 53.6 in February, data on Tuesday showed. “We were expecting to figure [...]
Dow Jones hits record high
London – The Dow Jones industrial average touched another record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the US economy is strengthening. The Dow rose as much as 112 points late Thursday morning. The Standard & Poor’s 500 index approached its own record high. Health insurance companies [...]
Lenovo takes aim at Africa
PC and mobile device manufacturer Lenovo is targeting the top position in Africa, with a planned expansion on the continent. A Lenovo delegation, led by Graham Braum, Lenovo Africa general manager, met with representatives from government and private organisations, as well as business partners in Namibia, Nigeria, Kenya and Ghana, to reinforce it’s commitment to [...]
Petrol price: more pain for drivers
The price of petrol (95ULP) will increase by 10 cents a litre at the coast and 12 cents a litre in Gauteng, with effect of midnight on Tuesday. The wholesale price of diesel with a sulphur content of 0.05 percent will rise by seven and nine cents a litre respectively, and that of diesel with [...]
SA maize falls most in two weeks
Johannesburg – South African corn futures fell the most in almost two weeks after the weather service forecast rains over the country’s main growing regions. White corn for delivery in July, the most active contract, dropped 2.5 percent, the most since March 14, to 2,347 rand ($253) a metric ton by the midday close in [...]
SA and China strengthen ties SA and China strengthen ties SA and China strengthen ties
Pretoria – South Africa and China have signed the terms of reference of a joint inter-ministerial working group to strengthen co-operation, President Jacob Zuma said on Tuesday. ” This working group will monitor the implementation of co-operative projects so that we are able to join hands in a meaningful way as we go forward,” Zuma [...]
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