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Gordhan defends inflation targeting PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Thursday, 15 July 2010 03:37

Finance Minister Pravin Gordhan has once again defended the government's inflation-targeting policy, arguing it was the right monetary choice boost the country’s investor confidence and cushion the local economy in times of economic crisis.
The labour union federations have long called for the government to ditch the government’s inflation targeting policy, which was introduced when former president Thabo Mbeki unleashed macro-economic policies which grew the economy but failed to create jobs.

Last Updated on Thursday, 15 July 2010 03:38
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Employment slows in May and June, Survey PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Thursday, 15 July 2010 03:34

An independent labour survey released by Adcorp on Monday showed that the rate of rate of employment slowed between May and June 2010 despite the anticipated economic boost of the World Cup. The Adcorp Employment Index shows that the rate of employment fell to a marginal annualised rate of 0.26 percent in June after a steep fall of 6.2 percent the previous month. The South African economy has been struggling to create jobs following an economic recession last year despite positive signs that the economy is rebounding. Last year more than a million jobs were lost and in the third quarter of this year about 171 000 were further shed.

Last Updated on Thursday, 15 July 2010 03:36
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Marcus says South Africa is a 4.6% Economy PDF Print E-mail
Written by VUYO MBULI   
Friday, 09 July 2010 06:36

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Reserve bank governor Gill Marcus says the global economy is at a crossroads. Speaking in Johannesburg, Marcus aid "the world is in the midst of significant change, and the events in Europe are the most vivid examples of how complex and difficult the current environment is".  She said the previous euphoria that the recovery was well underway has now translated into greater caution.  Marcus said the world never really emerged from the crisis, which is now entering its next phase.

 

Last Updated on Friday, 09 July 2010 07:07
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Nedbank Up for Sale? PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Friday, 09 July 2010 07:33

Rumours, which surfaced last year, gained momentum yesterday when foreign news agency Sky News reported that Europe’s biggest bank, HSBC, is in the process of evaluating a bid to sell South Africa’s fourth largest banking group, Nedbank. Nebank, which is owned by the international long-term saving group Old Mutual plc, has been struggling to penetrate in the black market and has failed to challenge successfully the hegemony enjoyed by Absa, FNB and Standard Bank in the local banking sector.
 
Last Updated on Friday, 09 July 2010 07:39
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Group 5 projects dip in earnings PDF Print E-mail
Written by MBUYISI MGIBISA / Business Correspondent   
Thursday, 08 July 2010 10:28

JSE-listed construction and engineering firm Group Five says it expects its fully diluted earnings a share to be between 40 and 50 percent or R2.43 and R2.92 a share when it releases its annual financial results on August 10 this year.

Last Updated on Friday, 09 July 2010 06:11
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