Archive for November 17th, 2009

Gill Marcus and her team UNANIMOUSLY left the South African repo rate UNCHANGED at 7.0%. But what of the future? We canvass the views of a couple of leading local economsts on the decision by the new Rerve Bank… »

Johnson Matthey’s Platinum 2009 Platinum interim Report was released on Tuesday afternoon. Mark Bedford from the organisation talks to Lindsay Williams about the background to a rally that has seen the price rocket from the low $700s in October 2008, to $1450 at one point… »

Johannesburg, Nov 17 (I-Net Bridge) - Following is the full statement of the Reserve Bank’s Monetary Policy Committee meeting issued by Gill Marcus, Governor of the South African Reserve Bank

1. Introduction

There are signs that the domestic economy will continue on its recovery path but economic growth is expected to remain below potential for some… »

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   Johannesburg, Nov 17 (I-Net Bridge) - South Africa’s gold production
increased by 4.8% to 54,110.9 kilograms in the third quarter or 2009, the
Chamber of Mines reported on Tuesday.
    The chamber said 51,634.4 kilograms were produced in the second quarter.

    On a year-on-year basis gold production was down by 2.9% in the third
quarter of 2009.
    For gold mines… »

The ANC and its alliance partner agreements at the weekend should not result in major policy changes, at least not in the short term, said an economist on Tuesday.
This comes after the past weekend’s summit, which resulted in some mutual concessions. Among others, Cosatu and the SACP accepted the government’s… »

South African longer-dated bonds were better bid by noon on Tuesday ahead of a key rates decision in the afternoon.
By 11:47, the short-term government R154 bond was bid at 7.275% from a previous close of 7.215%. The medium-term R157 was at 8.380% from its previous close of 8.370%, while the long-term… »

The South African rand softened a fraction during the midday session on Tuesday, amid squaring of positions ahead of the MPC meeting 15:00, a local trader said.
At 11:50 the rand was bid at 7.4042 to the dollar from 7.3484 at its previous close. It was bid at 11.0980 to the euro… »

There is speculation that if China should increase its gold holding to even 5% of total reserves, a much higher gold price could ensue, according to a gold analyst on Tuesday.
This comes after India recently increased its holdings to 6% when it purchased 200 metric tons from the IMF and… »

Construction and engineering group Basil Read (BSR) and TWP Holdings (TWP) on Tuesday requested a trading halt on the JSE pending a general meeting for the purposes of approving the acquisition by Basil Read of the entire issued share capital of TWP.
Basil Read will pay and TWP shareholders will receive the scheme… »