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The JSE tracked a rebound in equities across the globe on bargain hunting after the Evergrande scare and as commodity prices rebounded, with the All Share index ending 1.48% firmer at 62,362.18 points.  The rand, however, still recovering from a triple whammy of Evergrande contagion, a rout in commodity prices and a stronger dollar, went firmly into reverse after Fitch warned that despite an improvement in economic prospects, South Africa will continue to face debt challenges, while crucial social and political issues remain.  “Risk-off …

Market wrap: JSE tracks rebound in global equities, while rand hits reverse Read More »

The United States will allow fully vaccinated South African travellers back inside its borders come November 1 but the same can’t be said for our UK counterparts. The measures announced by the White House will see restrictions eased for the UK and the 26 Schengen countries in Europe, as well as Ireland, China, Iran, Brazil, …

Opinions of the Day: The UK’s ridiculous travel restrictions for SA Read More »

The house of cards is coming down. And with it even stocks and other market assets across the globe with very little links to China.  The implosion of junk-rated property developer Evergrande, which are down 75% since May, has fuelled a continued global market selloff and even ignited talks that it may be China’s “Lehman Brother’s moment”.    But Citigroup, S&P Global and Barclays are among those who believe there will be casualties, but the Chinese government will take action to prevent the …

While you were asleep: When China sneezes… and Zuma’s shenanigans Read More »

The JSE started the week in the doldrums as it tracked a global stock market rout hit by an escalating liquidity crisis at Chinese property developer Evergrande and a collapse in iron ore prices.  Bloomberg reports angst about the world’s most-indebted developer sparked the biggest selloff in Hong Kong property stocks in more than a year, dragging down everything from banks …

Market wrap: JSE trips on global market rout Read More »

There’s a lot to fix in South Africa from corrupt institutions reeling from years of state capture, failing state-owned enterprises struggling to stand up from the weight of massive debts and broken spirit in our people who continue to struggle with economic woes like unemployment and living below the poverty line. While we must be …

Opinions of the Day: Let’s fix South Africa one piece at a time Read More »

Insurers Sanlam Life and Fedgroup Life were sanctioned by the South African Reserve Bank for a failure to have an adequate anti-money laundering and terrorist financing control measures, reports Business Day. In a statement, the Reserve Bank said the sanctions were imposed because of weaknesses that were uncovered in compliance with certain provisions in the …

Insurers slapped with fines for inadequate money laundering and terrorism controls Read More »

The JSE ended the week on a sour note as mining counters continued to be a drag on the bourse amid a volatile week for metals.  Commodities remain on the back foot, with Europe’s torrid car sales amid a global semiconductor shortage underlining a slide in demand for metals across the globe.   Industrial miners with large exposure to iron ore bled as …

Market Wrap: Rand tanks; JSE ends week in the red Read More »

The local government elections are fast approaching on November 1 and with the African National Congress (ANC) in somewhat of a shambles dealing with court cases, candidate lists and funding, a looming power vacuum has emerged for SA’s opposition parties to fill. But can they? These elections represent the greatest chance opposition political parties have, …

Opinions of the Day: Is South Africa’s opposition ready to take control? Read More »