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Rand a tad stronger
March 4, 2013--The rand was fractionally stronger at midday on Monday but continued to struggle generally against major currencies following the release of poor trade figures last week.
Weaker manufacturing data out of China‚ coupled with and a move to slow their property value growth to prevent a property bubble‚ also contributed to the rand’s overall weakness.
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Source: FIN24
Africa's Food Markets Could Create One Trillion Dollar Opportunity by 2030
March 4, 2013--Africa's farmers and agribusinesses could create a trillion-dollar food market by 2030 if they can expand their access to more capital, electricity, better technology and irrigated land to grow high-value nutritious foods, and if African governments can work more closely with agribusinesses to feed the region's fast-growing urban population, according to a new World Bank report launched today.
According to the Growing Africa: Unlocking the Potential of Agribusiness report, Africa’s food systems, currently valued at US$313 billion a year from agriculture, could triple if governments and business leaders radically rethink their policies and support to agriculture, farmers, and agribusinesses, which together account for nearly 50 percent of Africa’s economic activity
view World Bank report-Growing Africa-Unlocking the Potential
of Agribusiness
Source: World Bank
KPMG-Nigeria Among World's Four Major Investment Destinations
March 4, 2013--Nigeria has been ranked as one of the four major investment destinations and growth areas in the world.
According to KPMG, one of the world's foremost audit, financial and tax advisory firms, Nigeria's newfound status followed the disappointing returns recorded by the BRICS, with the exception of China.
BRIC was the term coined by Goldman Sachs' economist, Jim O'Neill in 2001, to symbolise the emerging global economic powerhouses of Brazil, Russia, India and China. The term was later expanded to BRICS to accommodate South Africa.
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Source: AllAfrica.com
Rand-hedge stocks support the JSE
March 1, 2013--The JSE closed the Friday session firmer with rand-hedge stocks keeping the local bourse above the 40 000-point level after the rand lost substantial value due to weaker-than-expected trade deficit data that was released on Thursday.
Locally industrials‚ financials and banking stocks lead the JSE firmer‚ while gold miners and resources weighed.
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Source: FIN24
Banks, financials underpin JSE
February 28, 2013--Investors' strong appetite for banking and financial stocks kept the JSE in positive territory on Thursday, offsetting weakness in the general resources sector.
Gold stocks were particularly under pressure as a result of a lower gold spot price as well as caution ahead of the National Energy Regulator of SA’s decision on Eskom’s tariff hikes application‚ due this afternoon. Mining houses are already under pressure from rising costs.
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Source: FIN24
Curve flattens on inflation concerns
February 28, 2013--The South African bond market flattened in midday trade on Thursday as the short-end moved softer in response to rising inflation concerns, while the longer end strengthened on foreign demand.
“The curve has flattened by around five basis points as the market waits for the electricity price announcement this afternoon and tomorrow’s petrol price announcement‚” a local bond trader said.
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At 12:36 the All Share [JSE:J203] index was 0.89% higher at 40 011.77 points‚ with the Top 40 - (Tradeable) [JSE:J200] index recovering 0.96% at 35 589.88 while the banking and platinum indices regained 1.26% and 1.32% respectively.
Source: FIN24
