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Absa lists NewGold ETF on Mauritius Stock Exchange
Latest exchange marks NewGold's fifth listing.
July 19, 2013--The corporate and investment banking division of Absa Bank Limited (Absa), member of Barclays, today announced that the pioneering NewGold exchange traded fund (ETF) will list on the Stock Exchange of Mauritius (SEM) on 26 July 2013.
The listing on the SEM will mark the fifth exchange that NewGold is listed on after South Africa, Botswana, Nigeria and Ghana.
NewGold, Africa,s largest ETF, is one of the simplest and most cost efficient methods for investors to invest directly in physical gold bullion.
Rand looking vulnerable
July 19, 2013--The rand steadied against the dollar early on Friday, trading within the previous session's range but looking under pressure from a strong greenback that could see the local currency close softer heading into the weekend.
By 06:25 GMT, the rand was at R9.9250/$, not far off its R9.9060/$ close in New York on Thursday.
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Source: FIN24
Bonds, rand steady ahead of rates call
July 18, 2013--Government bonds were largely steady and the rand was not far off previous closing levels against the dollar on Thursday, ahead of the South African Reserve Bank (Sarb) decision on interest rates.
Markets and economists widely expect the Reserve Bank to keep the benchmark repo at a four-decade low of 5%, but will monitor governor Gill Marcus's speech that starts at 15:00 to gauge whether her concerns have shifted about rising inflation pressures and anaemic growth.
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Source: FIN24
Rand mostly flat ahead of Fed testimony
July 17, 2013--The rand hovered near overnight levels in early Wednesday trade, ahead of testimony by US Federal Reserve chairperson Ben Bernanke that should give further clues on its monthly asset purchasing programme.
Retail sales data due out at 13:00 are likely to cement market expectations that the South African Reserve Bank (Sarb) will keep interest rates at 40-year lows this week, as it balances the need to rein in inflation with that of supporting an ailing economy.
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Source: FIN24
Rand firms to two-week high vs dollar
July 16, 2013--The rand was steady on Tuesday after hitting a two-week high against the dollar and looked set for a firmer session with emerging markets supported by views the US Federal Reserve will maintain monetary easing.
At 08:38, the rand was at Monday's closing levels, coming back from the two-week high of R9.8540 hit earlier. The rand has managed to open below the psychologically key R10 level for two sessions, signalling some strength in the currency.
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Source: FIN24
Rand, bonds steady ahead of rate decision
July 15, 2013--The rand was flat against the dollar on Monday and is likely to trade rangebound this week ahead of a central bank interest rate decision on Thursday.
The rand was at R9.9775/$ at 08:51, in line with its close in New York on Friday.
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Source: FIN24
GFI Report-Illicit Financial Flows and the Problem of Net Resource Transfers from Africa: 1980-2009
A May 2013 Joint Report from Global Financial Integrity and the African Development Bank
July 15, 2013--Primary Findings
Between 1980 and 2009, the economies of Africa lost between US$597 billion and US$1.4 trillion in net resource transfers away from the continent.
These transfers include both licit flows, such as investment, foreign aid, debt relief, and remittances moving into and out of the country, and illicit flows, such as the proceeds of crime, corruption, and tax evasion moving out of the continent.
view the Illicit Financial Flows and the Problem of Net Resource Transfers from Africa: 1980-2009
Source: GFI (Global Financial Integrity)
JSE books biggest gain in 18 months
July 12, 2013--South African stocks rallied on Thursday, with both major indices logging their biggest daily gains in 18 months as equity investors worldwide warmed to comments from Ben Bernanke.
The chairperson of the US Federal Reserve reaffirmed his commitment to loose monetary policy in the near future, ending weeks of speculation that the policy that has fuelled a rally in risky assets could soon come to an end.
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Source: FIN24
Rand steadies, bonds weaken
July 12, 2013--The rand traded close to its overnight levels against the dollar early on Friday and looked set to tread a narrow range for the day in the absence of market-moving domestic or global data.
Government bonds edged slightly weaker and yields inversely ticked up in a market widely expecting South Africa's Reserve Bank to keep the benchmark repo rate on hold at its bi-monthly policy meeting next week.
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Source: FIN24
Namibia: Gold Opens NSX Alternative Investment Board
July 12, 2013--The Namibian Stock Exchange has launched the Alternative Investment Board (AIX) in another effort to develop and deepen the local capital market.
The AIX was launched last week Friday (05 July) with the listing of Canada-based junior gold exploration company, Giyani Gold.
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Source: AllAfrica.com
