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Feb 10 2012 18:19
The rand tumbled against the dollar in late afternoon trade as the local currency tracked a jittery euro.
Feb 10 2012 17:28
President Jacob Zuma will make an announcement "of national importance" on Saturday, says a central bank statement.
Feb 10 2012 14:37
A weak euro has dragged down the rand, causing it to extend losses against the dollar as the eurozone debt crisis affected investor sentiment.
Johannesburg - South Africa is proposing a new 1% tax to boost its cash-strapped national broadcaster instead of relying on licence revenues, newspaper Business Day reported on Monday.
The South African Broadcasting Corporation made R822m for the 2007/08 financial year in licence revenues, the daily said, and the new levy may more than double that.
"A tax of up to 1% would be imposed on taxpayers above their personal income tax to assist broadcasting," the daily quoted the director general of the Department of Communications, Mamodupi Mohlala, as saying.
She said the broadcaster should concentrate on local production, not collecting fees, but critics of the new levy say is too much for citizens already facing a 45% hike in electricity costs this year.
- Reuters