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  • JUST IN: Reserve Bank Governor to steer International and Monetary Finance Committee

    18 January 2018 4:32 PM 34

    Cape Town – Reserve Bank Governor Lesetja Kganyago has been appointed chair of the International Monetary and Financial Committee (IMFC). The Reserve Bank made the announcement in a statement on Thursday afternoon. Kganyago will serve as chair of the committee for a three-year term, effective from January 18, according to the statement. The IMFC consists

  • Humans will review video from most popular YouTube creators

    18 January 2018 12:14 PM 32

    New York - Google says humans will now review video from its most popular YouTube creators after recent complaints. The videos being targeted are ones Google packages to advertisers as "preferred" content. While Google has had human reviewers before, it relies heavily on software to flag potential problems. YouTube was criticized for moving too slowly

  • Two months may make a big difference for MPC

    17 January 2018 5:34 PM 40

    Johannesburg - Two months can be a long time in monetary policy as well as politics. When the South African Reserve Bank’s rate-setting committee met in November, the rand was at a year-low, inflation expectations exceeded the 6% upper end of the target range and the bank’s forecast models showed more increases over the next two years. This week, the Monetary

  • New SARB MPC member appointed ahead of rates decision

    16 January 2018 5:36 PM 42

    Cape Town - Fundi Tshazibana has been appointed an adviser to the Governors of the SA Reserve Bank (SARB) with effect from 19 February 2018. She will also become the seventh member of the Monetary Policy Committee (MPC) of the SARB. The MPC is set to make its first interest rate announcement for 2018 on Thursday. SARB said in a statement that Tshazibana

  • Rand shows strength ahead of interest rate decision

    15 January 2018 3:52 PM 42

    Cape Town - The rand was hovering around R12.36 to the dollar on Monday due to the US currency being on the back foot across the board owing to strong commodity prices, Bianca Botes of corporate treasury management at Peregrine Treasury Solutions said. The British pound and euro were trading at R16.99 and R15.09 respectively. "The rand remains in a tight

  • Pizza Hut to open shop in Zim

    15 January 2018 3:13 PM 41

    Harare - American restaurant chain and international franchise Pizza Hut is set to open its doors in Zimbabwe for the first time on February 2 2018. The US company will open an outlet in Harare in partnership with local Zimbabwean company Silicoade Capital. Silicoade Capital owns the franchise for Pizza Hut and also Ster-Kinekor Zim. Responding to Fin24, Pizza

  • Woolworths shares down on news of profit drop

    15 January 2018 11:51 AM 31

    Cape Town - Shares in Woolworths [JSE:WHL] fell by as much as 9.2% in early trade on Monday, before recovering to trade some 5% down by noon, on news that it expects a profit drop for the first half of the financial year. The multinational retail company put out a half-year investors' note on Monday morning to say it expects headline earnings per share

  • Exceptional 910 carat gem diamond found in Lesotho

    15 January 2018 7:41 AM 30

    Cape Town - A 910 carat gem diamond has been recovered in a Lesotho mine - the fifth largest gem quality diamond ever found. This is according to a statement from Gem Diamonds, a British-based diamond company listed on the London Stock Exchange. It has operations in both Botswana, where it owns Ghaghoo mine, and Lesotho, where it owns 70% of the Letšeng

  • Goldman Sachs is said to join JPMorgan in taking Steinhoff loss

    13 January 2018 9:59 AM 57

    New York - JPMorgan Chase & Co. may soon have company in disclosing a fourth-quarter earnings hit tied to Steinhoff International Holdings. The Goldman Sachs Group is also likely to disclose a loss linked to the South African retailer, according to people briefed on the firm’s financial results. In 2015, the bank was part of a group of lenders that provided

  • Virtual aide market a 'wildfire' at CES gadget show

    09 January 2018 4:00 AM 62

    Las Vegas - Voice-commanded virtual assistants packed into speakers and other devices will be a "game-changing" trend this year, Consumer Electronics Show researchers said on Sunday. Sales of smart speakers are expected to nearly double in the US, to $3.8bn, from last year according to Lesley Rohrbaugh and Steve Koenig, researchers with the Consumer