Sovereign Food Gets 686 Million Rand Approach From Country Bird: Country Bird offered 9 rand a share, the company said in a statement after the market closed on Wednesday. That compares with Uitenhage, South Africa-based Sovereign’s share price of 7.19 rand. Source: Bloomberg Source: "Uitenhage" - BingNews. … [Read more...] about Uitenhage in the news: Sovereign Food Gets 686 Million Rand Approach From Country Bird
rand
Rand vs the dollar: 1978 – 2016
Rand vs the dollar: 1978 – 2016: Imported from Brazil, not manufactured in Uitenhage. My brother bought one December 1979 at a VW dealer, brand new. I myself bought one for R2 550 in 1975. Still have the papers to prove the price, and got 2,5% discount! My uncle bought a Telefunken TV ... Uitenhage - Read more on BusinessTech More VW Polo Vivos: Xpress, GTS in SA: The Xpress, the brainchild of chairman and managing director of Volkswagen South Africa, Thomas Schaefer, was designed and … [Read more...] about Rand vs the dollar: 1978 – 2016
Accolades for Multimillion Rand upgrades to Port of Port Elizabeth
FAR-REACHING UPGRADE TO PE HARBOUR – Transnet National Ports Authority’s multimillion rand investment represents the first step towards a thriving boat building and maintenance hub for the city. TNPA Senior Project Manager Pieter-Ben van Rhijn, pictured left, said the innovative engineering services provided by AfriCoast Consulting Engineers and Haw & Inglis had maximised the long term value of the project. Pictured from left of Van Rhijn are AfriCoast’s Gerrie van de Merwe, Haw & … [Read more...] about Accolades for Multimillion Rand upgrades to Port of Port Elizabeth
Rand Paul Courts Christian Conservatives – PE News
Rand Paul Courts Christian Conservatives: Among others with whom Paul has talked in recent months were evangelist Rodney Howard-Browne; Robert Jeffress, pastor of First Baptist Church in Dallas; Jerry Johnson, president of the National Religious Broadcasters Association; Daniel Kolenda, ... Rodney Howard-Browne - Read more on U.S. News & World Report (blog) Well-known evangelist headlines Plant City tent revival: This will be the first appearance at the revival by … [Read more...] about Rand Paul Courts Christian Conservatives – PE News
Interest rates will rise on back of poor rand – experts
Nedbank's economic unit said on Wednesday that in an environment with a rapidly deteriorating inflation outlook, the South African Reserve Bank (Sarb) would have no choice but to raise rates to contain inflationary expectations and restore financial stability. This was in reaction to the announcement by Statistics SA that South Africa's annual consumer price inflation rose to 5.2% in December 2015. This was in line with expectations and 4 percentage points higher than November's 4.8% rise. It … [Read more...] about Interest rates will rise on back of poor rand – experts
Rand on the backfoot as it eyes R17/$
The rand was on the backfoot on Wednesday ahead of inflation data due at 10:00 and as the oil turmoil continued on renewed oversupply fears. The local unit managed to move just below R16.60 against the greenback and was trading in the R16.60s for most of Tuesday before sliding quickly after the SA close for an overnight close of R16.78. By 07:58 on Wednesday the unit was back at its lowest levels for the week, trading at R16.88/$, R23.86/£ and R18.47/€. So far this year the rand has … [Read more...] about Rand on the backfoot as it eyes R17/$
Weak Rand equals Higher Petrol Price
If the rand/dollar exchange rate had remained flat in 2015, South Africans would currently have been paying on average 45 cents a litre less at the pumps, the Automobile Association (AA) said on Friday. This estimate is based on unaudited mid-month data released by the Central Energy Fund (CEF). "South Africa's sagging rand/US dollar exchange rate continues to take the shine off ongoing international oil price weakness," the AA explained. "This deficit has widened by another 32 cents … [Read more...] about Weak Rand equals Higher Petrol Price
SARB pits monetary policy stance under the microscope
Amid the rand's tumultuous start to the year, the SA Reserve Bank (Sarb) said that it will assess the appropriateness of the current monetary policy stance. "The opening weeks of 2016 suggest that the conduct of monetary policy in South Africa will be further complicated," said deputy governor Daniel Mminele, addressing European Economics and Financial Centre in London on Tuesday. "The currency remains a key source of risk for inflation in South Africa, despite some recent evidence of … [Read more...] about SARB pits monetary policy stance under the microscope
Why our Sorry Rand is performing so badly
Having a look at the performance of the Rand against the Dollar for the last 10 years can only be described as a; "Frighteningly sad exercise!" The chart goes from a low of R5.99 to the Dollar in January 2006 to R17.43 in January 2016 - the progression is definitely a bad one. Using a 10 year chart from XE.com (see chart below) we selected peak exchange rates and matched those to happenings in South Africa to see if we could get a correlation between poor performance of the rand and … [Read more...] about Why our Sorry Rand is performing so badly
Plummeting rand impacts asset performance
The rand's more than 10% decline against the dollar during the fourth quarter of 2015 was clearly reflected in the relative performance of asset classes during the quarter, according to Herman van Papendorp (head of macro research and asset allocation) and Sanisha Packirisamy (economist) of Momentum. The best performers were global assets, with global equities outperforming global bonds and cash, according to their quarterly market and economic review, released on Tuesday. Among the … [Read more...] about Plummeting rand impacts asset performance
R16.49 to the $1 because ‘markets do not understand Zuma’s motives’
Any expectations of a respite for the rand after last week's beating were given a final nail in the coffin when President Jacob Zuma stated that the turmoil regarding Nenegate was not all that serious, and that markets did not understand what he was trying to do. This is according to Wichard Cilliers, director and chief dealer at treasury services company TreasuryOne. "This week has got a lot of potential banana peels that the rand could slip on. Several speeches by US Fed members could … [Read more...] about R16.49 to the $1 because ‘markets do not understand Zuma’s motives’
Battered rand will bring hard year to SA
The rand is currently at the mercy of external factors, analysts said on Friday. They were responding to the rand hitting R16.20 to the greenback on Thursday before consolidating trade for the rest of the day at around R16.10/$. At 10:38 on Friday the unit was trading at R16.03/$ from a close of R16.06 in the previous session. "It's not only South Africa, the world is an unhappy place," Adam Phillips, independent treasury consultant at Umkhulu Consulting, told Fin24. "In case you … [Read more...] about Battered rand will bring hard year to SA
SA tourism begins benefiting from weak rand
As a whole it looks like the South African tourism industry is picking up and now is the time for the industry to make full use of the opportunities the weaker rand brings, Danny Bryer, director of sales, marketing and revenue management for Protea Hotels, told Fin24 on Wednesday. He said so far in 2015 it would seem that the rand devaluation has not brought the direct positive impact for the tourism industry as a whole one would have expected. This was due to factors like the visa-related … [Read more...] about SA tourism begins benefiting from weak rand
Drought and rand not good for food prices
South African consumers should brace themselves for a double blow on food prices from the countrywide drought and continued rand weakness, Grain SA warned. While South Africa was still recovering from a R12bn loss in maize production from last year, it is in the grip of a drought which could see it become a net importer of the crop for the first time in seven years, Grain SA CEO Jannie de Villiers told Fin24 on Wednesday. This could translate into a significant increase in maize and … [Read more...] about Drought and rand not good for food prices
Could the Rand go to R15/$?
The big question for next week is whether the SA Reserve Bank's Monetary Policy Committee (MPC) will decide to hike interest rates on November 19 or not, Wichard Cilliers, director and chief dealer at financial services provider TreasuryOne said on Tuesday. "Whether they hike or keep the interest rate unchanged, a lot will ride on the rand and the movements of the currency this week," said Cilliers. "Should the rand fail to arrest its slide, we could see the MPC act quickly to stop the … [Read more...] about Could the Rand go to R15/$?
