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Africa: The Brics New Development Bank and Currency Reserve Arrangement At a Glance
July 9, 2014--As the BRICS meet in Fortaleza, Brazil from 15-17 July 2014, attention is once again on the group's efforts to established two new financial institutions: the New Development Bank and the Contingent Reserve Arrangement.
Negotiations are underway on both and, while it remains uncertain that they will be officially launched in Fortaleza, substantial progress is expected to be announced at the summit.
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Source: allAfrica.com
SA suffers economic stagnation-index
July 9, 2014--South Africa avoided a technical recession, but sporadic economic growth was not enough to shake off economic stagnation, according to BankservAfrica's Economic Transaction Index (Beti) released on Wednesday.
The Beti showed the economy recovered a little in June 2014, but not enough to stop the economic decline, BankservAfrica corporate reputation head Michael Rubenstein said in a statement.
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Source: FIN24
JSE retreats from record high
July 8, 2014--The JSE's main stock index set a record high before losing steam to end slightly lower,
as investors took their cue from a downbeat mood in major overseas markets.
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Source: FIN24
Strikes, dollar put pressure on rand
July 8, 2014--The rand has weakened against the dollar on the JSE after
flirting with a month-low as a strike by Numsa entered its second week.
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Source: FIN24
Kenya: You Can Now Use Bitcoin to Buy a Villa in Nairobi
July 8, 2014--Villas in Loresho Ridge area of Nairobi have been put up on sale, but in an unorthodox manner: the houses have been made available for purchase by use of Bitcoin (an online currency) as an alternative payment, through the online Bitcoin market place(BitPremier).
The villas on sale-Fahari Villas-are situated on a cul-de-sac on the highest point of the Loresho Ridge gated community in Nairobi. There are 12 units in total with private landscaped gardens. Each of the houses is sitting on a parcel of land measuring approximately 460 square meters.
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Source: allAfrica.com
African Infrastructure Investment Survey
Private sector perspectives on risks and opportunities
July 8, 2014--The Infrastructure Consortium for Africa (ICA) has launched a new survey to capture private sector views on the challenges of implementing infrastructure projects in Africa across the energy, water, transport and ICT sectors.
The online survey, which has been designed by UK-based business intelligence company Cross-border Information (CbI), will complement the ICA's established work promoting increased investment and development of infrastructure in Africa and tracking infrastructure financing trends.
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Source: allAfrica.com
JSE set to rise despite weak economy
July 7, 2014--Strong global markets and increasing commodity prices have pushed the JSE to its highest ever close,
with indications that the market will continue to rise.
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Source: FIN24
Vetiva rebalances assets under new index framework
July 6, 2014--VETIVA Fund Managers Limited said it has rebalanced underlying assets of its traded fund,Vetiva Griffin 30 Exchange Traded Fund (VG 30 ETF), in line with the bi-annual review of the NSE-30 index by the Nigerian Stock Exchange.
According to the fund manager, the investment objective of the VG 30 ETF is to track the price and yield performance of the NSE 30 Index, change to the NSE 30 Index, like change in the composition of the NSE 30 Index and/or in the weighting of the securities within the NSE 30 Index, which will require the VG 30 ETF Trust to make corresponding adjustments to its portfolio from time to time.
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Source: The Guardian
JSE ends at record highs
July 4, 2014--The JSE ended at record highs and looks set to keep its bullish tone next week if metal prices hold up
and the rand keeps weakening.
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Source: FIN24
Rand rebounds, metal strike enters fourth day
July 4, 2014--The rand has steadied, pulling back from losses that saw the
currency fall to two-week lows against the dollar, undermined by a national strike.
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Source: FIN24
