Rand a tad stronger on weaker dollar

South Africa's rand firmed slightly against the dollar on Tuesday as investors trimmed dollar positions ahead of a U.S. monetary policy meeting, fearing a possible cut in interest rates in that country.

The rand was quoted at 7.3035 at 0700 GMT, two cents firmer than its New York close on Monday. The local currency was about 0.5 percent better off than in late Johannesburg trade.

Read Full Article at Reuters South Africa

Oil pauses at $54 after OPEC export rise weighs

Oil steadied at $54 a barrel on Tuesday as traders balanced an expected rise in U.S. crude inventories and signs of OPEC producers lifting March output with forecasts for lower distillate fuel stocks after a cold snap.

The market held its ground after a slide of over $1 on Monday, when Saudi Arabia's ambassador to the United States said OPEC's largest producer was satisfied with U.S. crude near $50 and as other commodities were also hit by an investor sell-off.

Read Full Article at Reuters South Africa

S.Africa Dec PSCE slows to +25.81 pct yr/yr

Growth in demand for credit by South Africa's private sector slowed to 25.81 percent in the year to December from 26.77 percent in the year to November, official data showed on Tuesday.

During the same period, the broadly defined M3 measure of money supply grew by 21.93 percent, also slower than forecasts, from November's 25.33 percent

Read Full Article at Reuters South Africa

Money in broadband video sites

Broadband video sites, such as YouTube, are poised to become valuable money-makers for programmers, suggests a new report from Nielsen Analytics.

The report, released last week, says that advertising on broadband video sites can command higher prices than traditional television ads. This is because viewers are more engaged with online video.

Read Full Article at FIN24.co.za

Negative sentiment weighs on rand

South Africa's rand weakened against the dollar on Monday, weighed down by emerging market worries that saw investors opt out of riskier currencies, and analysts predicted a gloomy week for the local unit.

The rand stood at 7.3125 versus the dollar at 1530 GMT, having softened about 0.84 percent to 7.3470 earlier from its New close of 7.2850/dollar on Friday.

Market players said South African had borne the brunt of an emerging market sell-out on the day

Read Full Article at Reuters South Africa

S.African stocks dip, Telkom up on Vodacom numbers

South African stocks dipped on Monday as furniture retailer JD Group slid on a report it had not been approached about a possible takeover but Telkom rose after its mobile unit Vodacom boosted subscriber numbers.

The Johannesburg Top-40 index of blue-chip stocks fell 0.13 percent to 22,842.17 points while the All-share index lost 0.14 percent to 25,341.81 points.

The JSE retail index slid 0.13 percent, led by JD Group, which closed 4.84 percent lower at 88.50 rand.

Read Full Article at Reuters South Africa

China gives Africa $3bn loan

China will lend African nations $3bn in preferential credit over three years and double aid and interest-free loans over the same time, Beijing announced on Monday ahead of President Hu Jintao's tour to woo the continent.

Read Full Article at FIN24.co.za

Kumba earnings, output expected to double by 2013

Kumba Iron Ore is expected to double its earnings by 2013 in tandem with the more than twofold increase in the company's iron ore production.

Kumba said on Friday that its basic earnings for last year were expected to be between R4.1 billion and R4.4 billion.

The company is aiming to raise its annual output of iron ore, a key ingredient in steel, from 31 million tons to more than 70 million tons by 2015.

Read Full Article at Business Report

Shareholders approve Netcare issue

Listed hospital group Netcare has won shareholder approval to issue stock to replace bonds.

The resolution, approved at Friday's annual general meeting, will give directors control over 112 million shares, equivalent to 15 percent of the stock not yet listed for trading, or 6 percent of its publicly traded shares.

Read Full Article at Business Report

Investors back Barloworld buy-back

Diversified industrial conglomerate Barloworld has won backing to buy back as much as a fifth of its shares from investors.

Read Full Article at Business Report

Palabora turns copper to gold

Copper producer Palabora Mining Company on Monday reported 1 329 cents per share headline earnings for its financial year, compared to a loss of 339 cent loss in 2005, thanks largely to higher prices and increased production.

In its results announcement released Monday, the company said that sales increased by 108 percent to R5,04 billion, as a result of higher copper and by-product prices and increased copper sales volumes to 97 thousand tonnes compared to 17 000 tons previously.

Read Full Article at Business Report

Easing inflation pressures fuel hopes that Bank may take breather on interest rate increases

PRICE pressures continued to moderate last month, fuelling expectations that rate hikes could be at their peak. SA’s inflation numbers, which came out last week, show that consumer inflation numbers came in better than expected, while producer inflation data were also a pleasant surprise.

CPIX inflation (the consumer price index excluding mortgage costs) came in at 5% year on year last month, unchanged from the previous two months, while PPI (the producer price index) was at 9,3% (10%) year on year.

Read Full Article at Business Day

Investec sees slower equities growth this year

STOCKS are set to notch up more gains this year but growth could be impeded by a battle to succeed President Thabo Mbeki and a possible weaker US economy, Investec Asset Management said today

Read Full Article at Business Day

Angloplat failing on black empowerment - Minister

ANGLO Platinum has not shown enough commitment to SA’s black empowerment programme, Minerals and Energy Affairs Minister Buyelwa Sonjica said today. The minister said she raised the issue during talks with incoming Anglo American CE Cynthia Carroll.

Read Full Article at Business Day

Nickel hovers below highs as copper falls

Nickel prices hovered near record highs in early trade in London on Monday, supported by the threat of strike action at major producer Xstrata and by a further fall in stocks.

At $37,800/38,000 per tonne at 1100 GMT, London Metal Exchange nickel for delivery in three months was 13percent higher than at the start of the year.

On Friday it hit a fresh high of $38,950 before closing at$38,100.

Read Full Article at Reuters South Africa

Gold drifts lower, awaits US economic signals

Gold declined in Europe on Monday after gaining overnight as a steady dollar against the euro and weaker oil prices triggered profit taking.

Dealers said gold would remain confined in a broad range as investors awaited the outcome of a meeting of the Federal Reserve and U.S. economic data due for release this week.

Spot gold hit an intraday high of $647.70 an ounce in Asia before falling to $642.40/643.40 by 1049 GMT, compared with $645.00/646.00 in New York late on Friday.

Read Full Article at Reuters South Africa

Chinese money heading for SA

Chinese president Hu Jintao would make further large financial contributions to South Africa's Asgisa (Accelerated and Shared Growth Initiative of South Africa) programme during his state visit to the country, Chinese ambassador Liu Guijin said on Monday.

Read Full Article at FIN24.co.za

Declaration, Ex-dividend And Record Date Defined

Have the workings of dividends and dividend distributions mystified you too? Chances are it's not the concept of dividends that confuses you; the ex-dividend date and date of record are the tricky factors. In this article we'll sort through the dividend payment process and explain on what date the buyer of the stock gets to keep the dividend.


Read Full Article at Investopedia.com

FTSE flat as telecoms slip, but miners rise

Britain's benchmark index was flat to softer in early trade on Monday, weighed by ailing telecoms stocks although helped by firm oil and mining shares.

Shares in British Telecom dropped 0.9 percent and mobile telecoms group Vodafone lost 0.7 percent as European telecoms suffered after Deutsche Telekom issued its second profit warning in six months

Read Full Article at Reuters South Africa

Housing loan – a lawful deduction

Deputy pension funds’ adjudicator discusses housing related deductions from pension benefits.

Individuals looking for money to build or refurbish a house could get it form their pensions.

Pension and provident funds are a form of social security and therefore the Pension Funds Act allows funds to grant housing loans to its members.In terms of the act, provided the fund rules so permit, a fund may grant a loan to a member for the purposes of acquiring a house or property on which a dwelling will be erected for him or his dependants or effecting improvements to an existing dwelling.

Read Full Article at MoneyWeb.co.za

What you lose if you resign

It could be tens of millions of rands but that should not be your only concern

Think carefully before you resign - it could cost you dearly.Here are some points to consider before you take the decision:

• Ask yourself what you stand to lose?
• Your future earnings capacity might not match the intrinsic value of what you leave behind
• The grass might not always be greener on the other side
• Discretionary income could be lost.
• You could forfeit your 13th cheque
• Your new employer could be offering you much less than you think
• A competent career history could be erased.
• The culture of the new company
• The nature of the industry
• What happens to your pension

Read Full Article at MoneyWeb.co.za

Rates shock for property owners

Owners of sectional title units in the Western Cape will be charged individually for property rates and services by their municipalities this year, the Business Day reported on its website on Monday.

A new rates policy is to be implemented across South Africa under the Local Government Municipal Property Rates Act 2004.

Read Full Article at FIN24.co.za