(Reuters) – Workers at state-owned logistics firm Transnet will go on strike starting this Thursday over a wage dispute, two labour unions said, in a move that could halt the export of key minerals and other cargo. Transnet has been operating below capacity due to a shortage of locomotives, poor maintenance and vandalism and theft of …
Transnet workers to strike this week over wages – unions Read More »
(Reuters) – South Africa’s rand strengthened in early trade on Tuesday, ahead of the central bank’s biannual monetary policy review due later in the day. At 0635 GMT, the rand traded at 17.7200 against the dollar, 0.76% stronger than its previous close. The dollar index, which measures the currency against six rivals, was last down …
Rand strengthens ahead of central bank policy review Read More »
(Reuters) – Sibanye-Stillwater said on Monday that it had raised its stake in Finnish battery chemical maker Keliber to 84.96%, in its bid to boost the production of lithium hydroxide. The South Africa-listed miner had taken a 30.29% stake in Keliber in February as part of its diversification strategy into battery metals. It had offered …
Sibanye-Stillwater raises stake in Finland’s Keliber Read More »
(Reuters) – South African manufacturing activity contracted in September as extensive power cuts weighed on production and new sales orders declined, a survey showed on Monday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) was at 48.2 points in September from 52.1 points in August, falling below the 50-point mark that separates expansion from contraction. “Even …
South African factory activity contracts in September- Absa PMI Read More »
(Reuters) – South Africa’s rand firmed in early trade on Monday, ahead of a local purchasing managers’ index (PMI) survey and new vehicle sales data that could give some clues on the health of the economy. At 0639 GMT, the rand traded at 18.0375 against the dollar, 0.21% stronger than its previous close. The dollar …
Rand firms ahead of local PMI, vehicle sales data Read More »
South African lender FirstRand Ltd on Thursday reported a 22% rise in full-year profit, near the middle of its estimated range, as the bank continued to benefit from a rebound in economic activity. The continent’s biggest bank by market capitalisation posted a headline earnings per share (HEPS) – the main profit measure in South Africa …
JOHANNESBURG (Reuters) – South Africa’s central bank will raise its key interest rate by 75 basis points next week to brake inflation, a Reuters poll found, adding another 25 basis points in each of the following two quarters before pausing for the rest of 2023. A majority of economists in a Sept. 7-14 poll, 12 …
SA Reserve Bank to hike repo rate 75 bps next week – poll Read More »
(Reuters) – South Africa’s rand weakened in early trade on Thursday, as the U.S. dollar held near recent peaks after traders increased bets that the U.S. Federal Reserve will become even more aggressive next week in its battle to curb inflation. At 0712 GMT, the rand traded at 17.5000 against the dollar, 0.11% weaker than …
(Bloomberg) — South Africa’s unemployment rate rose to a new high in the fourth quarter as more people started to look for work after coronavirus restrictions were eased and the economy rebounded following the worst riots seen since the end of apartheid. The jobless rate rose to 35.3%, from 34.9% in the three months through …
South Africa Jobless Rate at Record as Work Seekers’ Ranks Grow Read More »
(Bloomberg) — One of South Africa’s newest banks is looking to accelerate its number of accounts to 1 million by June. Digital lender Discovery Bank registered a 31% jump in customer accounts to 850,000 in the half year through December, now wants to add another 18% within six months. “That would really be a a …
South Africa’s Discovery Bank Eyes a Million Accounts by June Read More »
