Economy of South Africa

South African central bank holds key rate, fears inflation

South Africa is highly dependent on imports. A weaker currency increases the cost of many goods bought into South Africa, with the country effectively importing inflation.

Despite weak economic growth South Africa’s Reserve Bank opted to leave interest rates on hold on Thursday, fearing any move to stimulate the economy now could fuel inflation.

Thursday, 22 November, 2012, 10:25pm

Investors are filtering back

The Victoria & Alfred Waterfront in the historic heart of Cape Town's working harbour is South Africa's most-visited destination, having the highest rate of foreign tourists of any attraction in the country.

South Africa tends to get a bad rap, what with its political and social unrest, and lately, industrial action. Even Standard and Poor's downgraded the sovereign rating of Africa's largest economy, amid uncertainty linked to strikes and rising social tension.

14 Nov 2012 - 3:22am

Storms gather over Africa’s 'Rainbow Nation'

An aerial view of Sandton City, the main commercial and shopping hub in Johannesburg. Photo: AFP

A toxic mix of government stasis, creaking infrastructure and social unrest is prompting doubts about South Africa’s stability in a continent with too many economic scare stories.

It may, in the end, be events on a dusty patch of Highveld two hours’ drive from Johannesburg that end South Africa’s 18-year post-apartheid honeymoon.

3 Oct 2012 - 1:44pm

Shanghai yard wins huge order from U-Ming

Shanghai Waigaoqiao Shipbuilding, one of the largest shipyards on the mainland, has won a contract that may be worth up to US$500 million.

The huge order, for up to 10 dry cargo iron ore and coal carriers, was placed yesterday by the Singapore subsidiary of Taiwan's U-Ming Marine Transport.

14 Feb 2012 - 12:00am

China seen as key for iron ore, shipping firms

China will remain the world's key iron ore market for mining companies and the global dry bulk shipping industry, despite concerns about the future of the country's infrastructure boom and an easing of foreign direct investment, shipping experts say.

14 Nov 2011 - 12:00am

Bulk carriers help fill Rongsheng order book

China Rongsheng Heavy Industries Group, the mainland's largest privately owned shipyard, is set to deliver at least 35 ships this year out of a total order backlog of 111 vessels worth US$7.1 billion.

'We estimate no less than 35 vessels will be delivered this year,' said Cynthia Zhang Jin from the firm's investor relations division.

2 Jul 2011 - 12:00am

New fleet launch imminent

A venture between Capital Steel Group of the mainland and Peninsular & Oriental Steam Navigation of Britain that will have the world's biggest capesize dry bulk carrier fleet will start operating in Hong Kong on July 7.

1 Jul 1998 - 12:00am

South African gold stocks offer better value than US

LLOYD George Management and Morgan Stanley Asset Management offer gold sector funds to Hong Kong investors.

The LG Strategic Gold Fund Limited is a Bermuda-registered offshore, open-ended fund almost totally invested in the gold-mining sector, with a 5 per cent cash component as at July this year.

18 Aug 1996 - 12:00am

Fund managers drawn by South Africa's potential

FUND managers here and abroad generally believe that, between now and 1999, the South African market will offer lucrative investment opportunities.

The first democratic elections last year helped to open the country to a wider base of foreign investors.

17 Sep 1995 - 12:00am

S Africa to reform forex controls

SOUTH AFRICA'S Government is expected to announce a major overhaul of its exchange controls in a bid to attract more foreign investment, says a senior stock exchange official.

Neil Carter, director of operations for the Johannesburg Stock Exchange, said the reforms were a keystone of its economic reform package expected in the March 15 budget.

6 Mar 1995 - 12:00am

Cenargo adds Prestige to fleet

CENARGO International, the British-based private shipowning group, has taken delivery of its largest newbuilding to date, the 162,000 deadweight tonne Capesize bulk carrier Merchant Prestige.

The vessel will be joined in June by a sister vessel, Merchant Paramount.

27 Jan 1995 - 12:00am

Krugerrand aims to regain glitter

SOUTH Africa's Krugerrand is looking to a fresh lease of life as the country savours its new-found acceptance abroad, and as gold regains its shine as an investment.

9 May 1994 - 12:00am

Tanker market in doldrums while dry market kicks on

THE tanker market remains quiet while the dry side has seen another healthy week in terms of number of sales.

The Petrofina-controlled Aframax tanker Fina America (87,368 dwt), built by Mitsubishi in 1979, has been sold to Lundquist on an off-market basis for about US$11.5 million.

6 May 1994 - 12:00am

Sales slow, but interest in used vessels healthy

DESPITE a lack of concluded sales last week, healthy interest remains in the market for reasonable quality, second-hand vessels, according to Wallem Shipbroking (Hong Kong).

Modern Capesize and Panamax ships are attracting plenty of inspections despite the uncertain freight market, the brokerage said.

10 Nov 1993 - 12:00am

Dollar shrinks in value as inflation takes hold

ALL over the world, people are worried about the deteriorating economy.

The G-7 countries and the US are intentionally creating inflation by monetising debt. This means that all major countries are creating money out of thin air. This is a simple, subtle way to cause inflation, which as Lord Keynes said, not one person in a million would even understand was happening.

18 Jul 1993 - 12:00am