Yesterday saw the release of manufacturing production data and mining output data. Both disappointed.
The manufacturing sector felt the effects of lower production in the motor sector. And, perhaps not surprisingly, mining output felt the effects of the platinum sector strike.
The rand weakened on the news.
Let's take a closer look at what the data revealed…
Manufacturing data was f... ››› more
Since over 220,000 metalworkers affiliated with the National Union of Metalworkers of South Africa (NUMSA) downed tools a week ago, the rand has been under immense pressure. But with news emerging today that the strike may be nearing an end, the rand has firmed slightly. Let's take a closer look at what's going on with the local currency…
The rand claws back some ground
The rand strengthened... ››› more
Last Tuesday, saw the start of a mass strike by over 220,000 members of the National Union of Metalworkers of South Africa (NUMSA). As the strike reaches its second week, talks are to continue to bring it to an end. The strike has already led to the closure of car plants. Let's take a closer look at what's going on…
Metalworkers want wage hikes of up to 15%
Earlier today, the NUMSA said talk... ››› more
This year has been a tough one on the local currency. Recently the rand has managed to scrape back some of its losses. But last week saw the beginning of another crippling strike. Since then the rand has lost a lot of ground and it doesn't look like the situation is going to improve soon. Let's take a closer look at what's going on with the local currency…
Investors are concerned over relentl... ››› more
It's a common joke that South Africans are Olympic level strikers and it must be true because not only are we eligible for the marathon, after the 5 month long platinum strike, we appear to want to try our hands at the relay. Just as we ended one strike last week, we look set for another even larger one this week.
Another strike for South Africa
Approximately 220 000 workers in the metals ... ››› more
Yesterday, it emerged that economic growth in the US fell sharply for the first quarter. This resulted in the dollar losing ground, which has benefitted the rand. Also buoying the rand was the end of the lengthy platinum sector strike. Let's take a closer look at what's going on with the rand…
US GDP fell nearly 3% from January to March
Data released yesterday in the US showed that “the wo... ››› more
The body representing commercial farmers have hit back at a new land reform proposal. The Rural Development and Land Reform Minister has proposed that farmers give over 50% of their farms to workers. Let's take a closer look at the new proposals…
A new proposal means 50% of land would go to farmworkers
Yesterday, Agri SA, the group representing commercial farmers, said “a new land reform p... ››› more
Yesterday, the deputy governor of the Reserve Bank Daniel Mminele said there are concerns over the high inflationary environment in South Africa. This leaves the central bank with tough choices. Increasing interest rates to try to curb inflation could dent already struggling economic growth. Let's take a closer look…
High inflation poses a problem
Mr Mminele said that inflation is currently ... ››› more
Yesterday afternoon, news emerged that the five-month long strike in the platinum sector was over. The Association of Mineworkers and Construction Union (AMCU) and the top three platinum producers finally agreed a new three-year deal. The rand strengthened on the news. And this morning the rand continues to hold its gains. Let's take a closer look at what's going on…
The rand rallied 1% on ne... ››› more
Today marks five months since members of the Association of Mineworkers and Construction Union (AMCU) began strike action against the three largest platinum producers. It looks like the strike is finally coming to an end as the AMCU presents new offers to its members today. An agreement will see the longest strike in South African history come to an end. Let's take a closer look at what's going on... ››› more
This week, the rand strengthened to its highest level in nearly two weeks. A barrage of domestic data helped the local currency out. But yesterday the situation changed as the crisis in Iraq escalated. This dented the rand and global appetite for risk. Let's take a closer look at what's going on…
The rand is battling to hold onto gains
The rand was holding its ground this morning, reports BD... ››› more
The last couple of weeks have seen the rand struggling to gain any ground. But today, after the release of a sea of domestic data, the local currency strengthened to a level not seen in six weeks. So what's the rand so happy about? Let's take a closer look at what drove the currency stronger…
Investors were dumping the rand
Yesterday morning, the “rand was on shaky ground against the dolla... ››› more
…The union appears to change its demands. This follows the Association of Mineworkers and Construction Union (AMCU) and the platinum producers agreeing ‘in principle' to a resolution at the end of last week. But now it's emerged that the union has issued further demands. An end to the lengthy strike is starting to look further away. Let's take a closer look at what's going on…
The AMCU is... ››› more
Yesterday afternoon, Eskom announced that it would have to resort to load shedding as its electricity supplies were under severe pressure. Eskom blame this latest issue with its power supply on demand and maintenance. Let's take a closer look at what's going on and how long it's going to continue for…
Eskom began load shedding to ease pressure on the power grid
Eskom had to begin load sheddi... ››› more
Over the last few years, economic growth in South Africa has been lagging. This as many nations are starting to pick up the rate of growth. Last night, in his State of the Nation address, President Jacob Zuma says the economy's performance is down to two main factors that are holding the country back. Let's take a closer look at what President Zuma said…
Zuma sees economic growth at 5% in fiv... ››› more
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