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South Africa - China Trading Partners
Cape Town – Surging relations between South Africa and China have further deepened with a historical visit by that country’s Standing Committee chairman of the National People’s Congress, Wu Bangguo. [Read more…]
Reserve Bank - South Africa
Pretoria – The Reserve Bank has vowed to keep a watchful eye on second-round effects of inflation, it stated in its May Monetary Policy Review.
“The MPC will remain vigilant with respect to indications of second-round effects or generalised inflation, and will not hesitate to take timeous appropriate action, particularly if inflation is expected to move out of the target range on a sustained basis,” said the central bank on Tuesday. [Read more…]
World Economic Forum 2011
Pretoria – The 21st World Economic Forum on Africa, which will be attended by more than 900 participants from 60 countries, kicks off today in Cape Town.
The three-day meeting will discuss how sub-Saharan Africa can sustain its growth path and become one of the pillars of global growth and demand. [Read more…]
Pretoria – President Jacob Zuma has signed the Companies Amendment Act of 2010 into law and it will come into effect on 1 May 2011.
The Companies Regulations and all other relevant documents will be published and also come into force on 1 May.
“The new Companies Act is a major piece of legislation and reform, which has a number of features to it [and] will certainly improve the environment for business operation in South Africa,” said Trade and Industry Minister Rob Davies. [Read more…]
Cape Town – The Department of Trade and Industry has helped to conclude a total of R28 billion in investments in the South African economy and aims to help facilitate R115 billion in investments in the next few years, the Minister of Trade and Industry Rob Davies said today.
The R115 billion target falls under Davies’s performance agreement that he signed last year with President Jacob Zuma.
Briefing media in Parliament following his Budget Vote speech this morning, Davies said of the R28 billion which has already been committed, R13 billion was in the automotive sector, with much of the remainder in business-process services. [Read more…]
Boao, China – President Jacob Zuma has called on developing and developed countries not to move towards trade protectionism or to significantly devalue their currencies.
“If these occur, it would merely result in a race to the bottom and undermine all G20 efforts to achieve strong, sustainable and balanced growth,” said Zuma, while addressing the opening ceremony of the Boao Forum for Asia Annual Forum Conference 2011 hosted in Boao on Hainan Island. [Read more…]
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