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Rand firms, but still vulnerable
January 16, 2014--The rand got a temporary reprieve from recent selling after data showing a jump in US continuing jobless claims put some pressure on the dollar.
The rand was steady at R10.8850/$ at 14:38 GMT, coming back from a R10.9620/$ five-year low tested earlier in the session. Data showed US weekly continuing jobless claims at their highest in six months.
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Source: FIN24
SA stocks tick higher as Massmart surges
January 15, 2014--South African stocks rose 1% on Wednesday, nearing another record high, as shares of Massmart Holdings surged after its annual sales figures came in just above expectations, soothing worries about consumer spending.
Naspers and other companies with overseas earnings also rose, lifted by the crumbling rand currency, which hit a five-year low.
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Source: FIN24
Rand languishes near five-year lows
January 15, 2014--The rand is looking vulnerable because of expectations of weak retail and manufacturing data, which would add to a subdued outlook for 2013 GDP.
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Source: FIN24
Nigeria: Blueprint for the Privatization of Nigeria's Refineries
January 15, 2014--The debate surrounding privatization of public enterprises is a popular and on-going concern of scholars, public administrators and concerned citizens the world over.
In privatizing Nigeria's refineries many issues need to be considered and carefully implemented in order to ensure that the privatization benefits Nigerians
In a candid admission of the nation's inability to independently and strategically channel its enormous resources towards advancement, the government of Nigeria announced the decision to privatize the country's near-comatose refineries by 2014.
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Source: AllAfrica.com
Africa: 5 African Countries to Watch in 2014
January 14, 2014-- These countries can make a big difference for the continent this year.
As African reporting goes, most eyes in 2014 will likely be on the major economic powers such as Nigeria, South Africa and Kenya, or on the crises that continue to spring up on the continent, primarily in Central Africa and South Sudan.
However, there are several other nations that are worth watching as they may be harbingers of Africa's future development. Here are five countries that can make a big difference for the continent in 2014 under the right conditions and circumstances.
Mozambique: One of the world's largest reservoirs of natural gas, as well as oil reserves, has been discovered off the coast of Mozambique.
The discovery has enormous implications not only for Mozambique but also southern and eastern Africa. In the reserves is enough gas to cover southern Africa's power needs for generations; this has the potential to make the country as rich as those on the Arabian peninsula. The key will be how well the nation's leaders use the reserves for the benefit of its population. Mozambique remains in some ways, as it has since its civil war, a divided nation. The ruling party is largely in the south and the minority party has its strength in the north, where (of course) the energy reserves have been discovered.
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Source: AllAfrica.com
Rand pulls back from fresh five-year low
Gold, retail firms boost SA stocks view more
JSE investors wise to remain cautious view more
Rand reprieve ends as currency weakens view more
Nigeria: SEC Approves IPO of Griffin 30 ETF
January 14, 2014--The rand has touched a fresh five-year low against the greenback before pulling back, but could breach the 11 to the dollar level in the short term.
Source: FIN24
January 14, 2014--South African shares rose on Monday on hopes for healthy banking sector earnings and a pick up in retail numbers while a weak local currency buoyed gold mining stocks such as AngloGold Ashanti.
Weak US employment data released on Friday gave emerging market shares a new lease on life as investors bet the Federal Reserve would stay its hand on the stimulus programme that has encouraged stock punters to consider less developed markets.
Source: FIN24
January 13, 2014--The JSE drifted mostly lower during the past week after its extremely strong start in the first week of the year, and the All-share Index ended Friday nearly 1,500 points lower than the new record high set 10 days ago.
Brokers and commentators blame the weaker share prices on a strengthening currency, which recovered from its five-years lows of a few days ago.
Source: FIN24
January 13, 2014--The rand weakened against the dollar on Monday, with negative domestic fundamentals preventing a sustained rally by the rand after a weak US jobs number.
The rand was down nearly 1% at R10.7535/$ at 15:33 GMT, off a R10.6500/$ close in New York on Friday.
Source: FIN24
January 10, 2014-January 10, 2014--Vetiva Fund Managers Limited has notified the Nigerian Stock Exchange, NSE, that Securities and Exchange Commission, SEC, has granted approval for the Initial Public Offer of Griffin 30 Exchange Traded Fund (VG 30 ETF) which will open to the public for 15 working days in line with SEC Rule 301, commencing Monday, 13th January, 2014 and closing Friday, 31st January, 2014.
If the fund is listed on the NSE, it will become the second Exchange Traded Fund (ETF). An Exchange Traded Fund (ETF) is an investment vehicle that tracks an index, a basket of assets, or a commodity, but trades like regular shares on a stock exchange.
