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Retail sales grow

 

Retail sales grow 2.2% year-on-year

Retail sales grow 2.2% year-on-year

Pretoria – Retail trade sales increased by 2.2% year-on-year in June from a revised 0.2% in May, Statistics South Africa (Stats SA) said.

According to Stats SA, the highest annual growth rate was recorded for retailers in pharmaceutical and medical goods, cosmetics and toiletries, followed by retailers in household furniture, appliances and equipment, and general dealers. [Read more…]

Seeker 400 plans for 2012

Pretoria – The Seeker 400 prototype, which is an unmanned air vehicle, is due to make its maiden flight early 2012, Denel Dynamics said on Wednesday. “The prototype of Denel Dynamics’ latest Unmanned Air Vehicle (UAV), the Seeker 400, has been completed and is due to make its maiden flight in the first quarter of […]

Seeker 400 plans for 2012 is a post from: GlobalBuzz SA

GlobalBuzz SA» Business

New CEO for BUSA

Pretoria – Nomaxabiso Majokweni has been named the new Business Unity South Africa (BUSA) chief executive officer.

“She was appointed today following a special council meeting,” BUSA spokesperson Lesego Lehihi said on Thursday.

Majokweni, 42, has held senior positions in both the private a

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Forex will shield SA

Foreign Currency Reserves

Foreign Currency Reserves

Cape Town – South Africa’s low lending rate and the Reserve Bank’s stockpiling of more than $50 billion in foreign currency would help shield the country from some of the turmoil experienced by global markets in recent days, Johan van den Heever, the Reserve Bank’s deputy chief economist said today. [Read more…]

SA must be realistic about its resources

South Africa Resources

South Africa Resources

Durban – South Africa can contribute significantly to African infrastructure development, but there is a need to be realistic about the resources available in the country, cautioned Minister of Public Enterprises Malusi Gigaba.

Speaking at the 13th African Renaissance Conference, Gigaba said African countries can access the core logistics – telecommunications and energy infrastructure – from South Africa, however, there is still a significant infrastructure gap in the country. [Read more…]

Govt not against foreign investment

Foreign Investment

Foreign Investment

Cape Town – Government’s application to review the Competition Tribunal’s recent decision to approve the Walmart-Massmart merger did not mean the government was against foreign investment, the Ministers of Economic Development, Trade and Industry, and Agriculture, Forestry and Fisheries said today. [Read more…]

Economic empowerment for SA women

Economic Empowerment of Women

Economic Empowerment of Women

Pretoria – Economic empowerment for South African women will be the focal point of this year’s annual Women’s Month celebrations. [Read more…]

Govt lodges review application of Wal-Mart/Massmart deal

Pretoria – Government has lodged an application seeking a review for the approval of the Wal-Mart/Massmart merger.

“The review application points to serious flaws on the provision of relevant information and documents by the merger parties, in consequence of the curtailment of information that

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PPI rises to 7.4% in June

Pretoria – The Producer Price Index (PPI) in June rose to 7.4 percent, Statistics South Africa (Stats SA) said on Thursday.

“This rate is 0.5 of a percentage point higher than the corresponding annual rate of 6.9 percent in May 2011,” said Stats SA.

PPI, which is the price of goods leaving

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GDP forecast upped

South Africa - Growth Domestic Product

South Africa - Growth Domestic Product

Pretoria – South Africa’s Growth Domestic Product (GDP) is likely to grow by 0.1 percent to 3.8 percent at the end of the year, said the Bureau for Economic Research (BER).

In its economic prospects report for the third quarter of 2011, it said that the  actual data already released for quarter two of 2011, especially for manufacturing production, suggest that second quarter GDP growth moderated from the 4.8 percent recorded in quarter one. [Read more…]