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May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 11:49
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May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - Work stoppages in transportation and a "troubled labour market"
in South Africa will weigh on the economic rebound, according to Moody's Analytics, a division
of economic and research unit Moody's Corporation.
South Africa
recently experienced an almost three-week crippling strike action by transport utility Transnet
workers that is estimated to have cost the economy over R7bn.
"Work
stoppages in the transport industry will likely weigh on growth in the second quarter by crippling
activity in agriculture and other export-oriented industries," the
report said.
Despite these
factors, Moody's Analytics still expects the economy to grow by around 3% this year, boosted by
the export-oriented manufacturing and a substantial monetary stimulus.
"A number of
industries that supported the early stages of recovery will lost momentum but are not
anticipated to become drags on the economy," the report added.
While others
remain confident that the eurozone recovery is fragile but on the mend following multi-billion US
dollar bailouts, Moody's Analytics held a different view.
"We expect
the eurozone recovery to falter by the end of the year, sending Europe back into a moderate
recession," the report concluded.
- I-Net Bridge