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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 - Sought: British investors for South Africa's power industry and electricity producers.
In London on Tuesday Dr Rob Davies, Minister of Trade and Industry, said that investment opportunities arising from government's new Industrial Policy Action Plan (IPAP2), as well as the role that private entities can play in the country's electricity provision, will be high on the agenda when South African and British business representatives meet in the City on Wednesday.
The meeting forms part of President Jacob Zuma's first state visit to Britain, and will be attended by almost 400 business people from both countries, Davies said.
The recession has somewhat negatively impacted trade relations with Britain, one of South Africa's top five trading partners and the country's biggest investor.
Among other things, the South Africans will want to discuss how trade flows can be restored, and would also like to see how Britain emerges from the recession. Latest statistics do not yet indicate a "dynamic recovery", said Davies.
There is particular concern in the South African contingent about the recovery of the British financial industry, one of the biggest and most dynamic sectors in Britain's economy.
Davies says the delegation would like to hear what the effect of the recession will be on this British industry, as well as this year's prospects for investment flows to developing countries.
- Sake24.com
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