Plans to increase Transnet’s capacity to haul iron ore from mines to ports by 56% over the next seven years are in the works, says CEO Brian Molefe.
The rand tumbled nearly 3% to hit 16-month lows against the dollar as importers piled into the greenback, spooked by a recent trend of sharp declines.
State bonds fell and yields climbed as SA’s benchmark stocks booked their biggest daily gain in 16 months, breaking a three-day losing streak.
Walmart’s SA unit Massmart is ready to push down prices and sacrifice margins in pursuit of a bigger market share, its CEO has said.
SA’s biggest food retailer Shoprite Holdings saw its shares slide after reporting a 7% rise in full-year sales that fell short of analysts’ estimates.
Tens of thousands of workers ended a two-week pay strike in the South African steel and engineering sector on Sunday.
Massmart’s shareholders have accepted a takeover by US group Wal-Mart, setting up the world’s largest retailer for a potential battle with unions.
Barloworld pointed to a second-half rebound after a sharp fall in first-half earnings, saying it expects to benefit from a recovery in the economy.
SA President Jacob Zuma called for calm on Sunday after the murder of far-right leader Eugene Terre’Blanche fanned fears of growing racial tension.
South African stocks extended gains at midday on Monday, climbing to more than 3%
Cosatu has vowed to fight an anticipated flurry of retrenchments in the new year as companies come to blows with the global economic recession.
Massive discounts are on the cards this festive season as South African retailers brace themselves for the bleakest Christmas in nearly two decades.
SA cement manufacturer PPC on Monday reported an 8% rise to 283 cents in its headline earnings per share for the year ended September 2008.
South African ICT firm Allied Technologies (Altech) has been granted leave to participate in merger proceedings between MTN Group and Verizon SA.
The JSE remained higher on Monday in line with overseas markets which were being buoyed by hopes that central banks would cut interest rates.
South African stocks plummeted nearly 7% on Wednesday following severe drops in overseas markets amid renewed fears of a global economic slowdown.
The JSE extended losses at noon on Wednesday, retreating nearly 3% as investors fretted about the health of the global economy.
The JSE nudged slightly higher at noon on Thursday, boosted by miners after the gold price staged the biggest one-day advance since 1980 overnight.
Retailer Woolworths said on Friday that the effects of the day’s industrial action at its Cape Town stores had been minimal.
SA stocks extended gains on Friday, sending the all-share index 1,6% higher as investors snapped up shares in the badly beaten mining sector.
