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Nigeria: Budget 2020 Records N494bn Revenue Shortfall
March 10, 2020--The Federal Government's budget 2020, yesterday, came under major threat with a loss of N494 billion in the projected oil revenue following the global crash in crude oil price, which saw the price of nation's Bonny light tumbling to $46 per barrel, 10.67 percent lower than the budget benchmark of $57 per barrel.
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Source: allafrica.com
Bloodbath on the JSE as markets plunge around the world
March 9, 2020--Already unnerved by the coronavirus crisis, markets were shocked by a 30% crash in the oil price overnight.
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Source: FIN24
Volatile rand makes an about-turn, strengthening more than 2%
March 9, 2020--The rand has been on a roller-coaster ride, losing as much as 8% in early morning trade nearly touching R17/$ before bouncing back to R15.97/$ by noon.
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Source: FIN24
JSE down by over 2% as global markets slide
March 6, 2020--Now that coronavirus has reached South African shores, the JSE has shed over 2% in mid-morning trade, with the rand similarly taking a beating as global markets are in risk-off mode.
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Source: FIN24
Rand falls by over 2% against dollar as SA confirms first coronavirus case
March 5, 2020--The spread of the coronovirus is causing massive uncertainty around the world,says TreasuryONE.
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Source: FIN24
Blue chips tip the all-share index lower
March 4, 2020--Local stocks lost momentum towards the close to end the day softer on Wednesday while the rand found some traction and strengthened against the greenback.
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Source: FIN24
South Africa: SA Economy in Recession After Shock Q4 Data,2019 Growth Lowest in a Decade
March 3, 2020--It's official: South Africa ended 2019 mired in recession. Things have not been this bleak since the global financial crisis a decade ago, and since this data was recorded the coronavirus has started taking its toll on key South African trading partners such as China.
South Africa's economy in the fourth quarter of 2019 contracted 1.4%, Stats SA said on Tuesday 3 March. That was a far worse showing than economists had expected. A Reuters consensus forecast saw a shrinkage of just 0.1%. As a result of the dismal Q4 performance, South Africa's economy only grew 0.2% in 2019, its worst showing since the throes of global financial crisis in 2009, when it shrank 1.5%.
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Source: allafrica.com
Local stocks surge further as global rebound continues
March 3, 2020--Local stocks surged despite GDP data from Statistics SA indicating that South Africa had entered a technical recession following a consecutive quarter of GDP contraction.
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Source: FIN24
Rand stronger, stocks rebound after mass sell-offs on coronavirus fears
March 2, 2020--The rand moved 1.1% stronger in early trade on Monday, as markets appear to be taking a "breather" from the sell-off from the previous week, says an analyst.
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Source: FIN24
Economists expect decline in GDP for Q4 of 2019
March 2, 2020--South Africa's GDP is expected to record a contraction when Statistics South Africa on Tuesday morning releases growth figures for the fourth quarter of 2019.
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Source: FIN24
