S.Africa Q1 '07 c/act deficit narrows to 7.0 pct

(Reuters) - South Africa's current account deficit narrowed to 7.0 percent of gross domestic product (GDP) in the first quarter of 2007 as lower oil imports offset a decrease in mine exports, the central bank said on Thursday.

The shortfall compared with a 7.8 percent deficit in the fourth quarter of 2006 and 5.7 percent in the third quarter.


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China warns U.S. against trade "confrontation"

(Reuters) - "The dialogue made it clear that a confrontational approach
focusing on so-called immediate results only complicates the
situation and adds nothing to problem solving," it said.




China's economic growth was indeed too dependent on
exports, it said, but it was also "all too obvious that the
U.S. consumers spend too much and save too little, resulting in
their country's current account deficit".


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S.Africa may cut company taxes in Wednesday's budget

South Africa's government could offer much-needed tax relief for struggling companies on Wednesday when it unveils, as widely expected, the country's first budget surplus.

Finance Minister Trevor Manuel presents his 2007/08 budget proposals to parliament against the background of booming consumer demand that has led to a gaping current account deficit and weakened the rand.

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