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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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The oversupply of golf estates has claimed another victim.
Cape Town - Finance Minister Pravin Gordhan said on Tuesday that he is concerned about the strong and
uncompetitive levels of the rand at the moment, and wished authorities had the clout to intervene in a more assertive way.
He said, though, that treasury would assist to increase foreign exchange
and gold reserves beyond the $40bn mark.
One of the big surprises in Tuesday's medium-term budget is an
announcement by treasury that exchange controls will be relaxed to lower the
cost of doing business and to promote investment.
Included among these
reforms is the removal of the 180-day rule requiring companies to convert
their foreign exchange into rand. This rule has added to the volatility of
the rand in the past.
At the same time, the treasury has called current strong levels of the
rand into question and said it will work together with the central bank to
support low inflation and a more stable and competitive real exchange rate.
- I-Net Bridge