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South Africa: Strike Could Cripple Gold Industry
January 21, 2013-- A strike by labour union Amcu could cripple an already fragile gold mining industry, trade union Solidarity said on Tuesday.
"We are concerned about the job security of Amcu's members as a strike....could be unprotected and could put the future of thousands of mine workers and their families at risk," general secretary Gideon du Plessis said in a statement.
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Source: AllAfrica.com
Resources lead JSE to new highs
January 20, 2014--South African stocks started the week by hitting a series of record highs as investors snapped up platinum and gold producers such as Harmony Gold, betting impending strikes would lead to higher metal prices.
The Association of Mineworkers and Construction Union (Amcu) issued notices to gold and platinum producers for strikes starting on Thursday, which would likely squeeze global output.
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Rand shows some muscle view more
Mining shares lead JSE higher view more
Rand firms, but still vulnerable view more
SA stocks tick higher as Massmart surges view more
Rand languishes near five-year lows
Nigeria: Blueprint for the Privatization of Nigeria's Refineries
In a candid admission of the nation's inability to independently and strategically channel its enormous resources towards advancement, the government of Nigeria announced the decision to privatize the country's near-comatose refineries by 2014. view more
Africa: 5 African Countries to Watch in 2014
Mozambique: One of the world's largest reservoirs of natural gas, as well as oil reserves, has been discovered off the coast of Mozambique.
The discovery has enormous implications not only for Mozambique but also southern and eastern Africa. In the reserves is enough gas to cover southern Africa's power needs for generations; this has the potential to make the country as rich as those on the Arabian peninsula. The key will be how well the nation's leaders use the reserves for the benefit of its population. Mozambique remains in some ways, as it has since its civil war, a divided nation. The ruling party is largely in the south and the minority party has its strength in the north, where (of course) the energy reserves have been discovered. view more
Rand pulls back from fresh five-year low
Source: FIN24
January 17, 2014--The rand firmed against the dollar in early trade on Friday, pulling away from the psychologically key 11.0 level as a pause in the dollar rally provided temporary respite for South Africa's currency.
The rand firmed to R10.8750/$ at 06:20 GMT, 0.2% stronger than its close in New York on Thursday. If it holds, the rand will notch up its first positive day in a week.
Source: FIN24
January 16, 2014-- South African shares put in a second straight day of gains on Thursday, coming just short of record highs, as investors piled into mining shares which were lifted by positive global data and a weaker rand currency.
Bucking the trend, Johannesburg-listed shares of Richemont lost around 1.8% after the luxury goods maker missed third quarter sales expectations, making it one of the biggest decliners among blue chips.
Source: FIN24
January 16, 2014--The rand got a temporary reprieve from recent selling after data showing a jump in US continuing jobless claims put some pressure on the dollar.
The rand was steady at R10.8850/$ at 14:38 GMT, coming back from a R10.9620/$ five-year low tested earlier in the session. Data showed US weekly continuing jobless claims at their highest in six months.
Source: FIN24
January 15, 2014--South African stocks rose 1% on Wednesday, nearing another record high, as shares of Massmart Holdings surged after its annual sales figures came in just above expectations, soothing worries about consumer spending.
Naspers and other companies with overseas earnings also rose, lifted by the crumbling rand currency, which hit a five-year low.
Source: FIN24
January 15, 2014--The rand is looking vulnerable because of expectations of weak retail and manufacturing data, which would add to a subdued outlook for 2013 GDP.
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Source: FIN24
January 15, 2014--The debate surrounding privatization of public enterprises is a popular and on-going concern of scholars, public administrators and concerned citizens the world over.
In privatizing Nigeria's refineries many issues need to be considered and carefully implemented in order to ensure that the privatization benefits Nigerians
Source: AllAfrica.com
January 14, 2014-- These countries can make a big difference for the continent this year.
As African reporting goes, most eyes in 2014 will likely be on the major economic powers such as Nigeria, South Africa and Kenya, or on the crises that continue to spring up on the continent, primarily in Central Africa and South Sudan.
However, there are several other nations that are worth watching as they may be harbingers of Africa's future development. Here are five countries that can make a big difference for the continent in 2014 under the right conditions and circumstances.
Source: AllAfrica.com
January 14, 2014--The rand has touched a fresh five-year low against the greenback before pulling back, but could breach the 11 to the dollar level in the short term.
Source: FIN24
