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Posts Tagged ‘rand’
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March 16, 2018

ENERGY DEPT NEEDS R1 TRILLION FOR NUCLEAR PLANS

Finance Minister Nhlanhla Nene confirmed that nuclear plans will remain on the table but will only be implemented at a pace the country can afford.

Finance Minister Nhlanhla Nene says the Energy Department will need a budget of R1 trillion for its nuclear plans.

Nene confirmed that nuclear plans will remain on the table but will only be implemented at a pace the country can afford.

The Finance Minister gave his first public address in Tshwane on Monday at a Fedusa conference.

“Which means we must not move away from the existing plans and we’re sitting with the IPPs as we speak on renewable energy, some of them that are due to be signed quite soon, some of [...]

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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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March 2, 2018

Rand at strongest level in three years

“The rally in the local currency ‘continues unabated it seems and a slight dollar recovery last week has done nothing to dent this’”

The rand continued its winning ways on Monday morning, touching levels not seen since early 2015.

Positive sentiment towards SA was the recurring theme.

Foreigners were net buyers of local bonds to the tune of R12.3bn over the past week, helping the momentum in the rand, which acts a buffer against inflation.

Foreigners have also been aggressive net buyers of the local shares since December when Cyril Ramaphosa became the new of the new leader of the ANC.

With inflation now close to the mid-point of the [...]

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February 26, 2018

DStv to hike prices on 1 April: all the details

The stronger rand appears to have helped MultiChoice keep its annual price increases below inflation. The broadcaster said the price of DStv Premium, its top-end bouquet, will rise by 2.5% on 1 April 2018 — from R789/month to R809/month.

That compares to a price hike of 4% in 2017 for DStv Premium. A year ago, the rand was trading over R13/US$. On Friday morning, it was trading at R11.59.

Mid-tier bouquets, however, will see bigger increases, with DStv Compact Plus (formerly Extra) set to rise by 4.1% from R489 to R509/month and DStv Compact going up by 5.5% to R385/month from R365 now.

Last year, Compact Plus was hiked by 6.5% and Compact by 5.8%.

The [...]

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