[Source: http://www.voanews.com/content/south-african-economy-hit-by-metalworkers-strike/1950810.html by Gillian Parker.]
A strike by 220,000 engineers and metalworkers has dealt major blow to South Africa’s economy.
The labor dispute has been marked by violent clashes between police and striking workers and reports of looting and intimidation by union members. Read more
[Source: http://www.bdlive.co.za/economy/2014/07/03/moodys-cautions-of-potentially-negative-credit-outcome-for-sa by Evan Pickworth.]
RATINGS agency Moody’s, which has SA on a negative outlook, cautioned on Thursday of a potential “credit negative” for the country after the latest round of labour action.
It said in the same release it would be closely monitoring the performance of Anglo American’s platinum division after a recent wage agreement in that sector, as higher wages and slow economic conditions could affect profits. Read more
There is little joy to be found in Sandton, the business and financial heart of South Africa. Although Sandton, a suburb abutting Johannesburg, may be the richest community in all of Africa, and perhaps one of the wealthiest in the world, the business leaders that meet daily here are worried about the nation’s future. Read more
After another electoral victory in South Africa, the ruling African National Congress (ANC)-South African Communist Party (SACP) regime plans to pursue what it calls the “radical second phase” of its ongoing revolution. Read more
[Source: http://www.moneyweb.co.za/moneyweb-political-economy/anc-said-to-decide-on-rawmaterials-export-taxes by Franz Wild, Bloomberg.]
South Africa’s ruling African National Congress decided to introduce measures including export taxes in the next five years to encourage companies to use raw local materials for domestic manufacturing, according to a person with knowledge of the matter. Read more
56 500 000 (mid 2017 estimate)
5.1% y/y in September 2017 (CPI) & +4.2% y/y in August 2017 (PPI)
2.5% q/q for the 2nd quarter of 2017
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