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Nigeria: Senate Passes 2016 Budget
March 23, 2016--The Senate has passed the N6.08 trillion budget for 2016, with an unprecedented reduction in the budget's total.
President Muhammadu Buhari presented a N6.08 trillion proposal in December 2015.
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Source: allafrica.com
Rand fragile as downgrade fears, Gupta scandal weigh
March 22, 2016--The rand has steadied against the dollar but traders say it remains vulnerable to a political crisis and fears of a sovereign credit ratings downgrade.
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Source: FIN24
Rand dips on Zuma showdown and downgrade jitters
March 18, 2016--The rand has weakened against the dollar as investors focused on a political scandal surrounding President Jacob Zuma and a potential sovereign ratings downgrade.
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Source: FIN24
Rand rallies on Sarb rate hike
March 17, 2016--The rand has rallied to under R15.10/$ after Reserve Bank governor Lesetja Kganyago announced a 25 basis-point increase in the repurchase rate to 7%.
Moody's assessing SA amid rating jitters
March 17, 2016--Moody's credit rating agency, which placed South Africa on intense watch, is currently in the country to meet with critical role players to assess whether it should downgrade SA.
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Source: FIN24
Rand trading must come with 'govt health warning'
March 16, 2016--The rand has recovered to below R16/$ after hitting R16.24 after Deputy Finance Minister Mcebisi Jonas admitted that the Guptas offered him the top job ahead of 9/12.
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Source: FIN24
Nigeria Missing in Global Investment Destinations
March 16, 2016--Against the backdrop of Nigerian equities market's bearishness, which experts blamed on the sliding value of the Naira against the dollar, which made foreign portfolio investors to dump their shares,
a notable international investment advisory agency-The Credit Suisse-in its Investment Solutions & Products (IS&P) team's report, published in late last year, on opportunities to invest in select emerging markets in 2016, had excluded Nigeria and other African countries but points to stock markets...
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Source: allAfrica.com
Rand breaches R16/$
March 15, 2016--The rand has breached the R16/$-level as a barrage of factors, including domestic political turmoil, put pressure on the local unit.
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Source: FIN24
Rally in global sentiment lifts JSE
March 14, 2016--A positive mood has returned to world markets and the JSE responded by lifting all major indices higher.
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Source: FIN24
Rand weakens on Gordhan's Moyane comments
March 14, 2016--The rand has weakened in late afternoon trade amid political uncertainty caused by Finance Minister Pravin Gordhan's comments on the Tax commissioner.
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Source: FIN24
