Archive for February 18th, 2010

Brought to you by I-Net Bridge and expertly analysed by Graeme Korner from BOE Private Clients … »

As an antidote to the budget, we look at the big picture in one of the BRIC countries. Russia is huge, and and so is Michael Power. Listen to what happens when they both met recently. Plus a bit of Sweden thrown in, along with a smear of Greece. In conversation with Lindsay… »

Local white maize futures registered steep losses on Thursday, triggered by panic selling as result of a record harvest still in the hands of farmers, a local trader said.
The March white maize contract dived 67 rand to 1,028 rand per ton, the May contract dropped 54.80 rand to 1,060.20 rand,… »

In the 2009/2010 tax year, South Africa’s fiscal deficit ballooned to a substantial 7.3% of GDP - this equals the worst budget deficit South Africa has recorded since at least 1961, Stanlib Economist Kevin Lings said Thursday.
While many countries have seen their budget deficits expand dramatically in the past year - UK,… »

Gold Reef Resorts (GDF) and Tsogo Sun Holdings have entered into an agreement to merge their respective gaming and hotel businesses, creating a pre-eminent gaming and hotel company in South Africa which will have a significant ranking, by market capitalisation, among listed emerging market peers in the Europe, Middle East and Africa region.
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A re-look at South Africa’s ratings could be imminent, a prominent economist has cautioned.
Brait chief economist Colen Garrow says rating agencies generally make pronouncements on fiscal policy in the weeks after National Budgets are released.
The country’s National Budget was tabled by Finance Minister… »

The JSE opened in the red on Thursday amid some profit taking, following a good run.
Commodity stocks, with big resources stocks in particular, came under a bit of pressure amid a softer US dollar.
At 09:27 the JSE all share index was 0.70% lighter, with resources… »

Shipping and freight services group Grindrod (GND) on Thursday reported a 63% decline in diluted headline earnings per share to 188.7 cents for the year ended December 2009 from 504.7 cents a year ago.
The group generated earnings of 873 million rand, down 60% on the extraordinarily high prior year earnings of… »

Impala Platinum (Implats, IMP) on Thursday reported a 76% fall in its first half diluted headline earning to 212 cents a share from 876 cents a share on the back of lower platinum prices.
Production increased 2% to 895,000 ounces and the company maintained its interim dividend at 120 cents a… »

reported a 4.6% drop in its full year diluted earnings per share to 21.71 rand from 22.75 rand the year before.
Total sales volumes were up 21% to 40 million tonnes from 30 million tonnes in 2008.
The company declared a final cash dividend of 7.40 rand… »