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Economic Growth
Pretoria – Low interest rates and high inflation do not encourage economic growth, economist Chris Hart said on Tuesday.
“Low interest rates in the developed world have become counter-productive…. Growth has to be funded. In South Africa where interest rates are at 5.5%, we cannot get growth going,” said Hart adding that inflation was too high to stimulate growth. [Read more…]
Bolster industrialisation
Cape Town – As South Africa moves to bolster industrialisation efforts within its own borders, the planned roll out of a giant free trade area across Africa may hit a snag when it comes to negotiating about trade in manufactured goods between member countries, the Minister of Trade and Industry Rob Davies said yesterday. [Read more…]
Wine Producers
Pretoria – The term “local is lekker” was given a new meaning today when government, unions and the private sector all signed a deal committing the country to increasing its target of procuring locally manufactured goods to 75 percent.
[Read more…]
South Africa Manufacturing
Cape Town – Trade and Industry Minister Rob Davies has highlighted that the global economic meltdown and European debt crisis was affecting SA’s manufacturing industry. [Read more…]
Vehicle Sales up in September
Pretoria – Vehicle sales in September registered strong gains, the National Association of Automobile Manufacturers (NAAMSA) said.
“[For] September 2011, aggregate industry domestic sales had improved by 12 539 units or 30% to reach 54 364 vehicles from 41 825 vehicles sold during September last year. Sales during the corresponding month last year had been severely depressed by stock shortages as a result of industrial action throughout the industry at the time,” NAAMSA said on Tuesday. [Read more…]
China and SA strengthen ties
Pretoria – Deputy President Kgalema Motlanthe concluded his Chinese visit with a commitment to take cooperation between the two countries to a higher level.
The two governments agreed to facilitate investment by both public and private sectors from their respective countries in the areas of infrastructure development, mining, energy, transport and information and communications technology. [Read more…]
South African National Taxi Council
Pretoria -Transport Minister Sibusiso Ndebele says the taxi industry has made great strides in transforming its image as an industry associated with brutal violence.
“The taxi industry has taken great strides transforming its image as an industry associated with the violent resolution of its disputes, to one today which has resolved to banish violence to the dustbin of history,” he said. [Read more…]
European Union
Mbombela – South Africa and the European Union (EU) concluded their annual summit on a positive note – a sign that they could be closer to resolving their differences.
The two sides, which have disagreed in the past on the approach to a number of issues including Zimbabwe, Libya and the regional trade partnerships, seem to have kissed and made up when they ended the one-day summit on Thursday, held at the Kruger National Park, speaking with one voice. [Read more…]
Patrice Motsepe
Pretoria – President Jacob Zuma has called for an end to the squabbles that have led to noticeable divisions within the country’s business sector following a decision recently by the Black Management Forum to cut ties with Business Unity South Africa. [Read more…]
South Africa GDP
Pretoria – The South African economy’s Real Gross Domestic Product (GDP) contracted to 1.3% in the second quarter of 2011, the slowest rate in almost a year.
“Real GDP at market prices increased by 1.3% during the second quarter of 2011 compared with an increase of 4.5% during the first quarter of 2011,” Statistics South Africa (Stats SA) acting executive manager of national accounts, Gerhardt Bouwer, said on Tuesday. [Read more…]
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