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Currencies

Rand dips below R12.80/$

Feb 23 2017 17:52

The rand strengthened to an 18-month high to under R12.80/$ following a decent budget, dollar weakness and an easing of French political risk.

Budget 2017

Gordhan: Govt shouldn't let short-term gains scare off investors

Feb 23 2017 16:58

Government shouldn't chase investors away with a narrative for short-term gains but business also needs to have a social conscience, says Finance Minister Pravin Gordhan.

Budget 2017

Income tax won't generate as much as a VAT hike - analyst

Feb 23 2017 17:28

The revenue generated by the new personal income tax bracket will still be lower than a 1% increase in VAT, say an analyst.

Economy

We don't need public approval for Russian nuclear deal - govt

Feb 23 2017 16:30

The South African government is under no obligation to get public approval for a nuclear agreement it signed with Russia, the Western Cape High Court has heard.

Financial Services

Barclays asks Reserve Bank to approve Absa sale

Feb 23 2017 16:05

UK banking giant Barclays Group has applied to the South African Reserve Bank to reduce its shareholding in its Africa unit, which comprises Absa.

Eskom

Eskom can hike prices by 2.2% in 2017 - Nersa

Feb 23 2017 15:06

South Africa’s energy regulator says Eskom can implement a 2.2% tariff increase for the 2017/18 period as part of a previous multi-year increase determination agreement.

Budget 2017

Jonas warns parallel govt could hold real power

Feb 23 2017 14:33

Deputy Finance Minister Mcebisi Jonas has warned that South Africa could end up having two “parallel governments” where the big decisions are taken “elsewhere”.

 

In other news

BAT Zim full-year volumes down 21%

Feb 23 2017 15:19

British American Tobacco Zimbabwe has reported a 21% drop in sales volumes for the year to end-December 2016 on the back of weak consumer demand.

Massmart shares climb as profits improve on costs

Feb 23 2017 15:05

Walmart’s experience in controlling costs is helping Massmart improve profit as shoppers have been hurt by high food inflation.

UK net migration hits two-year low in Brexit boost

Feb 23 2017 13:47

Net migration to the UK has fallen to its lowest in more than two years, providing a boost for UK Prime Minister as she seeks to reduce the number of foreigners coming to Britain.

Tesla keeping Model 3 steady overshadows CFO exit

Feb 23 2017 13:36

Elon Musk gave Tesla shareholders the welcome news he still plans to deliver his mass-market electric sedan in July.

German domestic demand bolstered growth in final quarter

Feb 23 2017 12:00

Domestic demand has driven German growth in the fourth quarter as trade damped Europe’s largest economy.

Stocks mixed after Fed minutes, oil rebounds

Feb 23 2017 10:45

Global equities were mixed after US stocks pulled back from record highs as minutes from the Fed's latest meeting showed officials confident they can raise rates gradually.

Calculate your tax burden

Feb 22 2017 16:26

The National Budget has confirmed the largest revenue shortfall relative to budgeted estimates since 2009/10, necessitating tax hikes bringing in an additional R28bn.

INFOGRAPHIC: All your 2016 tax tables

Feb 22 2017 17:13

This infographic sheds light on the impact of income tax, announced by Finance Minister Pravin Gordhan.

Analysis & Opinion

Opinion

BOOK REVIEW: How to hone your impromptu speaking skills

The value to one’s career of participating in meetings early, clearly...

Budget 2017

Beyond the numbers, Gordhan's budget will be a political statement

Last year, Pravin Gordhan was seen as a saviour following the Nene debacle....

Budget 2017

Battle for the soul of SA's democracy far from over

The integrity of our state and the viability of its economy cannot be...

  • Winners
  • Losers
Selected from the top 100 Equities by Market cap.
WinnersPriceChange% Change
BID Bid Corporation LimitedR257.25R25.7511.12%
MSM Massmart Holdings LimitedR145.25R13.5410.28%
ITU Intu Properties PlcR47.70R2.595.74%
ASR Assore LimitedR274.51R12.424.74%
HCI Hosken Consolidated Inves...R141.00R6.004.44%
Selected from the top 100 Equities by Market cap.
LosersPriceChange% Change
CCO Capital & Counties Proper...R48.08R-2.47-4.89%
IMP Impala Platinum Holdings ...R47.00R-2.28-4.63%
ACL Arcelormittal South Afric...R12.97R-0.52-3.85%
S32 South32 LimitedR24.87R-0.73-2.85%
NEP New Europe Property Inves...R151.98R-3.99-2.56%
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Inside Fin24.com

 
Finweek

Budget 2017: The wealthy will pay more

Feb 23 2017 12:14

A new tax bracket for high-income earners and higher dividends tax were some of the answers finance minister Pravin Gordhan had to finding a R28bn shortfall in tax revenue.

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