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Profits drop at DRD Gold and Impala PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Friday, 27 August 2010 15:07

Mining companies DRDGOLD and Impala Platinum have reported that their profits were hurt by a slow demand for the precious metal and forecast a slow recovery into the future. DRDGOLD is South Africa's fourth-largest gold producer. It said it had recorded a 62 percent plunge in full-year profit on due to a strike action which lasted nearly a month. The company said its headline earnings per share (HEPS) for the full year to end-June fell to 12.9 cents per share, from 33.8 cents in the previous year.

Last Updated on Friday, 27 August 2010 15:28
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Zuma returns from China PDF Print E-mail
Written by VUYO MBULI   
Friday, 27 August 2010 14:43
President Jacob Zuma, arrives in South Africa today following his state visit to China. President Zuma’s visit is part of Pretoria's determined effort to consolidate South-South Relations and strengthen political, economic and trade relations with China. In a statement the presidency said "the visit came at a time when the two countries are marking 12 years since the establishment of formal diplomatic relations in 1998" During the visit the two countries signed an agreement and six memoranda of understanding, aimed at further strengthening bilateral ties and to implement areas of cooperation. During the visit President Zuma gave a public lecture at the Renmin University in Beijing where he highlighted the importance of global governance.
Last Updated on Friday, 27 August 2010 15:01
 
Business concerned about strike PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Monday, 23 August 2010 19:34

The South African business community said it was concerned that the recent spates of strikes would dent the country's business image. The South African Chamber of Commerce and Industry (Sacci) said it was with "great disappointment" that no agreement had been reached between unions and the Department of Public Service and Administration on wage increases.

Last Updated on Monday, 23 August 2010 19:52
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President Zuma arrives in China PDF Print E-mail
Written by VUYO MBULI   
Monday, 23 August 2010 19:55

President Jacob Zuma arrived in the People’s Republic of China for State Visit today. The State Visit is intended to strengthen South-South cooperation and deepen current bilateral relations between Pretoria and Shanghai. During the visit a number of MoUs are to be signed. The MOU's will be for co-operation in the areas of Geology and Mineral Resources, Environmental Management, Transport, railways and related Matters. President Zuma is expected to pay a courtesy visit on the Premier, Mr. Wen Jiabao during his time in China.

Last Updated on Monday, 23 August 2010 20:11
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World Cup fans boost retail sales PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Monday, 23 August 2010 19:15

Soccer fans during the recent World Cup might have helped boost local retail sales in June as sales increased an anuualised 7.4 percent, the fastest pace in three years. The surge on consumer spending was specifically visible on spending on clothes, food and sports goods. Stats SA said retail sales rose 7.4 percent compared to 4.5 percent in May. It said sales rose a seasonally adjusted 1.8 percent in the month.

Last Updated on Monday, 23 August 2010 20:19
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World Indicators

  • World Indicators
    InstrumentPrice% MovedOpen / Closed
    RAND/US$7.1833-0.08OPEN
    RAND/STERLING11.38750.0CLOSED
    GOLD1250.15-0.05OPEN
    PLATINUM1558.591.0OPEN

    Last Updated: 3 September 2010 6:30:54 PM
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