South Africa’s central bank governor urged the government to stick to its plan to reduce debt, as the National Treasury prepares to deliver its medium-term budget policy statement next week.
After mysteriously sailing into Hong two weeks ago, Russian tycoon Alexey Mordashov’s $500 million (R9.2 billion) superyacht weighed anchor Thursday (20 October) and departed for South Africa. It was southeast of Hainan Island on Friday morning.
Liz Truss resigned as UK prime minister after a brief and chaotic tenure that saw her announce a massive package of unfunded tax cuts before unwinding most of it in the face of a market rout.
South Africa’s economy is likely in a technical recession as intensified power cuts and heightened uncertainty caused by Russia’s war with Ukraine rippled through global financial markets.
Crypto assets are to be treated as financial products in South Africa, to make it easier for regulators to monitor the market and help to safeguard consumers.
MTN Group Ltd has walked away from talks to buy Telkom - a deal that would have created South Africa’s largest mobile-phone operator.
South Africa wants to spend billions of dollars fostering an electric vehicle industry, complicating efforts to finalize an $8.5 billion climate aid package before next month’s United Nations climate summit.
South African borrowing costs will only be lowered when inflation’s retreat toward the midpoint of the central bank’s target range is sustained, Reserve Bank governor Lesetja Kganyago said.
The smaller of the two main labor unions at South Africa’s state-owned port and rail operator vowed to continue a strike over wages that are curbing key exports.
South Africa, the world’s 13th biggest source of climate-warming greenhouse gases, will unveil details on how it plans to cut emissions next month at the United Nations Climate Change Conference in Egypt, Environment Minister Barbara Creecy said.
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