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Posts Tagged ‘currency’
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August 17, 2018

THE RAND IN RECOVERY MODE!

The lira, the world’s worst performer this year, and South Africa’s rand led the advance as some investors say Turkey’s problems are unique and others look for buying opportunities across emerging markets, writes Bloomberg.

The rand was nearly 2.5% stronger in morning trade against the dollar on Tuesday, after sliding as much as 9.4% on Monday – the most since October 2008.

Bloomberg reported some analysts saying that there are few fundamental reasons for assets across emerging markets to fall because of the lira. Turkey’s problems stem from president Recep Tayyip Erdogan’s standoff with the US administration.

With average inflation rates at record lows and [...]

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August 1, 2018

BERMUDA,MALTA & GIBRALTA WANT YOUR CRYPTO CURRENCY COMPANY

In small countries and territories including Bermuda, Malta, Gibraltar and Liechtenstein, officials have recently passed laws, or have legislation in the works, to make themselves more welcoming to cryptocurrency companies and projects. In Malta, the government passed three laws on July 4 so companies can easily issue new cryptocurrencies and trade existing ones. In Bermuda this year, the legislature passed a law that lets start-ups doing initial coin offerings apply to the minister of finance for speedy approval.

“We are 65,000 people, and 20 square miles, but we have a very advanced economy,” the premier of Bermuda, E. David Burt, said in an interview at a cryptocurrency [...]

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March 16, 2018

SA to raise GDP growth forecasts in October – Nene

National Treasury will probably raise projections for economic growth this year in its October mid-term budget as the country overcomes governance and financial problems that have lowered confidence, said Finance Minister Nhlanhla Nene.

Newly appointed President Cyril Ramaphosa reappointed Nene to the role last month. When former leader Jacob Zuma fired him and replaced him with a Des van Rooyen in 2015, the move triggered a sell-off in the rand and bonds.

Policy uncertainty and state graft concerns saw Fitch Ratings and S&P Global Ratings lower their assessments of the nation’s debt to junk. The economy slumped into a recession in 2017 and has mounted a fragile [...]

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February 26, 2018

Another fuel price cut on the cards for March

While the recent political changes have inspired a more jubilant mood among many South Africans, motorists will have even more reason to smile at the beginning of March, with current data indicating that a fuel price reduction is on the cards.

Mid-month data is pointing towards a petrol price decrease of around 30 cents a litre while the cost of diesel is likely to fall by approximately 40 cents and illuminating paraffin by 21 cents.

This would bring the price of 95 Unleaded down to R13.82 in Gauteng and R13.33 at the coast.

However, current trends indicate that an even bigger decrease is possible – depending on how oil prices and the currency play along [...]

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