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South Africa: Renewables Drive Draws Investors
October 29, 2013--South Africa's renewable energy programme has the potential to power growth in the country as its innovative approach continues to catch the attention of investors at home and abroad.
The Department of Energy's plans to develop the renewable energy industry have seen investment leap from "a few hundred million dollars" to US$5.7-billion last year, according to the Renewables 2013 Global Status Report published in July by REN21, the global renewable energy policy multi-stakeholder network.
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Source: AllAfrica.com
JSE: What to watch this week
October 28, 2013--Local shares continued their gallop to new records at the beginning of last week, until Wednesday when it seems that investors decided to cash in a bit of their profits.
By Friday the main indices were all a few hundred points below the mid-week highs.
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Source: FIN24
Rand steady ahead of data-heavy week
October 28, 2013--The rand was steady against the dollar on Monday as the market looks ahead to a data-heavy week which sees the release of producer inflation, factory and trade figures.
The rand was at R9.8200/$ at 08:45, little changed from Friday's close in New York.
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Source: FIN24
SA stocks edge up
October 25, 2013--African Bank was among the biggest gainers on a firmer South African stock market on Friday despite flagging a 90-percent plunge in full-year earnings due in part to rising bad debts among its core market of low income borrowers.
The overall market has taken a cautiously upbeat tone once more after nine straight days of gains-which took it to record highs-were snapped on Wednesday, in part by technical factors which suggested it was due for a correction.
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Source: FIN24
Rand weighed by mining strike concerns
October 25, 2013--The rand weakened against the dollar early on Friday, pressured by mining strike concerns, which pushed the currency to its lowest so far in the trading session.
The Association of Mineworkers and Construction Union (Amcu) could go on strike over wage negotiations, saying it would canvass its members on Monday at Impala Platinum on whether to strike after wage talks failed.
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Source: FIN24
Rand supported by weakening dollar
October 24, 2013--The rand firmed against the dollar, supported by bearish dollar sentiment on Thursday, while bonds steadied with the market digesting the mini budget presented in the previous session.
At 16:02 GMT, the rand was up 0.3% at R9.7725/$, off a R9.8000/$ close in New York on Wednesday.
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Source: FIN24
Rand slightly weaker before mini budget
October 23, 2013--The rand weakened against the dollar early on Wednesday but remained within the previous day's trading range as investors braced for inflation data and the Finance Minister's interim budget statement.
The rand was down 0.26% at R9.7750/$ at 08:47, off a R9.7500 close in New York on Tuesday.
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Source: FIN24
JSE at record highs
October 22, 2013--South African stocks steamed to record highs for the fourth straight session on Tuesday, lifted by gold producers such as AngloGold Ashanti and a big jump for retailer Pick N Pay.
Shares of South Africa's second-largest grocer jumped nearly 8% after it reported a double-digit rise in first-half profit, a sign a costly strategy to win market share and streamline its supply chain is starting to work.
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Source: FIN24
Rand largely steady, awaits US data
October 22, 2013--The rand steadied against the dollar on Tuesday with traders expecting it to hold within its current R9.75-85 band ahead of long awaited US non-farm jobs data later in the day.
Government bonds extended the previous day's losses ahead of a local weekly auction and as some market players saw the off chance of increased issuance when Finance Minister Pravin Gordhan presents his medium-term budget forecasts on Wednesday.
He said that Nigeria was a growing economy and assured that the United States government would help in growing the economy.
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October 22, 2013--United States of America Consul General, Jeffrey Hawkins said that the US has invested $50 million in Nigeria's economy in 2013 alone.
He said this during a courtesy visit to the Nigerian Stock Exchange (NSE) yesterday.
Source: AllAfrica.com
