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Gold strike talks hammer rand
August 22, 2013-The rand dropped to a new four-year low against the dollar early on Thursday after wage talks in the gold sector stalled and the country's main mine union said it planned to ask members to vote on a strike.
Gold mine stoppages would inflict more damage to the economy, which is already losing $60m a day to a strike by 30 000 workers in the car manufacturing sector that accounts for 6% of gross domestic product.
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Source: FIN24
Rand will be closer to R11 by year end -expert
August 21, 2013--By the end of 2013 the rand will probably be closer to R11 to the dollar, according to Rob Spanjaard, a director of REZCO Asset Management.
He had already warned in October 2012 that the rand could end up collapsing to more than R10 to the dollar.
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Source: FIN24
Rand on shaky ground
August 21, 2013--The rand weakened more than 1% against the dollar and government bonds dropped after data on Wednesday showed that headline consumer inflation in July breached the ceiling of the central bank's target band.
The rand was at 10.2670 to the dollar at 09:00 GMT, down 1% from its close in New York on Tuesday.
The yield on the 2026 government bond rose 4 basis points to 8.615%.
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Source: FIN24
Nigerians Abroad, Biggest Investors in Nigeria- Dabiri
August 21, 2013--Nigerians abroad have been identified as the biggest investors into the country's economy, which is seen as one of the fastest growing in Africa.
The chairman, House of Representatives Committee on Diaspora, Hon. Abike Dabiri-Erewa disclosed this at the just concluded Nigerian Diaspora Direct Investment Summit in London where she urged the Nigerian government to ensure that Nigerians abroad are given the necessary support needed to have a smooth inter-business transactions in their various countries of abode.
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Source: AllAfrica.com
Rand on shaky ground
August 21, 2013--The rand weakened more than 1% against the dollar and government bonds dropped after data on Wednesday showed that headline consumer inflation in July breached the ceiling of the central bank's target band.
The rand was at 10.2670 to the dollar at 09:00 GMT, down 1% from its close in New York on Tuesday.
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Source: FIN24
Rand dives as investors dump risky assets
August 20, 2013--Yields on debt hit their highest in 19 months on Tuesday and the rand dropped to its lowest level in six weeks as investors continued to dump local assets in a global sell-off of emerging markets.
The yield on the 2026 benchmark bond rose 7 basis points to 8.665%, its highest since January last year.
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Source: FIN24
Bahrain equity market measure hits 2-month high
August 19, 2013--The Bahrain All Share Index closed 0.12% higher at 1,202.68 points on Monday.
Shares of Bahrain Telecom, better known as Batelco, gained 2.94% to reach BD0.35. Islamic bank Ithmaar dived 3.70% to $0.26.
Source: African Capital News
Gold pushes stocks to record close
August 16, 2013--South African stocks booked a record close for the fourth time this week on Friday, lifted by surging gold producers after the spot price hit two-months highs.
The Top 40-(Tradeable) [JSE:J200] climbed 1.40% to 38 623.63 while the wider All Share [JSE:J203]...
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Source: FIN24
Rand mostly flat on Marikana anniversary
August 16, 2013--The rand was mostly flat on Friday as worries of labour unrest were raised on the one-year anniversary of when police shot dead 34 strikers at Lonmin's Marikana mine, in the deadliest security incident since apartheid ended in 1994.
At 09:19, the rand was at R9.977, largely unchanged from Thursday's New York close of R9.974.
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Source: FIN24
Rand recovers back into range vs dollar
August 15, 2013--The rand firmed against the dollar early on Thursday, recovering from a fall through R10-to-the-greenback level to trade back in a familiar range.
Better-than-expected offshore data such as eurozone GDP helped prop up emerging markets in the previous session, which also pushed down the dollar index.
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Source: FIN24
