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May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 24 2012 15:29
The Reserve Bank will maintain current interest rates, says governor Gill Marcus.
May 24 2012 12:00
Britain fell deeper into recession than initially thought in the first quarter of 2012, upping chances that the central bank could inject more stimulus into the economy.
Johannesburg - SA Transport Minister Jeff Radebe said on Sunday that the country would invest R170bn in transport for an estimated 450 000 visitors during the 2010 World Cup.
Radebe told a news conference that the amount included funds for airport and roads upgrades and the creation of new rail and bus systems. He said the money would ensure a major overhaul of the country's transport system, leaving a legacy after the tournament.
He said: "We are driven by a desire to make sure that SA becomes a destination of choice for tourists and business. The World Cup in 2010 is a catalyst for the development of our system because we need to meet FIFA requirements.
"But the huge sum of money we are investigating will also ensure a lasting legacy for our people."
Radebe said R13.6bn from the overall budget had been allocated to cities hosting World Cup matches. SA has 10 venues for the 2010 finals in nine cities.
An integrated ticketing system for visitors is to be introduced for the World Cup in several types of transport, including rail, buses and mini-bus taxi services.
Radebe said the number of railway police would increase from 1 400 to 5 000 by 2010 and other security measure introduced for the safety of visitors.
- Reuters