SA to diversify reserves

South Africa’s Reserve Bank is set to invest in currencies such as the Korean Won, Australian Dollar and the New Zealand Dollar. “The bank has also taken steps to invest in new currencies. [It] will be diversifying into currencies such as the Korean Won, Australian...

Transnet credit rating upgraded

Transnet’s credit rating has been upgraded to ‘BBB’, with the upgrade affirming the state utility’s ability to raise funds without a government guarantee. The state owned ports and rail operator’s credit rating was upgraded by two notches from a previous...

Scrap metal decision welcomed

Economic Development Minister Ebrahim Patel has welcomed the judgement of the North Gauteng High Court to dismiss an application to interdict the implementation of government’s new scrap metal export regulations. The new regulations came into effect on 16 September....

Britain Opts for a Bubble Play

The UK government has “lost patience” with austerity, and with a general election two years away, has abandoned it in favour of a new bout of debt creation, “tempting consumers to leverage their balance sheets into a new housing bubble,” suggests Trevor Greetham of...

French, SA companies encouraged

French and South African companies have been encouraged to work together to ensure the industrialisation of South Africa and the African continent. Speaking at a business forum on the sidelines of the state visit by French President Francois Hollande to South Africa,...

BRICS Cooperatives to meet in SA

Leaders of cooperatives’ organisations from Brazil, Russia, India, China and South Africa (BRICS) will gather for their third meeting in Cape Town, later this month. The meeting, which will take place between 26-27 October, is being hosted by the South African...