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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.
Pretoria - The sectoral education and training authority (Seta) for the services industries denied on Tuesday it was in a financial crisis, or had asked the government to bail it out.
"From a solvency point of view, we don't have any problems," chief executive officer Ivor Blumenthal told reporters in Pretoria.
He said the body's ratio of current assets to liabilities was 2.39:1.
"The Seta at no stage made an appeal to the department of labour for any type of debt relief whatsoever," Blumenthal said.
"No discussions ever ensued with the department in this regard, and at no stage did the department every say no."
Blumenthal denied recent reports in the Business Day newspaper that the Seta had debt of about R200m and pleaded last year for a "massive cash lifeline" from the department.
The newspaper also said the "debt crisis" prompted the department to begin an investigation into the Seta's activities.
The department's sector liaison manager, Mlulami Mdani, denied on Tuesday that any investigation or audit would be instituted.