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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 28 2012 07:53
The City of Cape Town has spent R175m running the Myciti bus service since the Soccer World Cup compared to an income of R35m, a report says.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - The rand firmed against the dollar in late afternoon trade on Friday following the release of better-than-expected US jobs data.
"It's a risk-on scenario after the US non-farm payrolls
figures, but even before that we saw the rand supported by some very
large offshore names and the US data just assisted the rand's progress,"
a local currency trader said.
"The euro briefly touched $1.32 after the data announcement
and I think the single currency has performed admirably given the
circumstances.
"For me though, the euro rand cross is the important thing to watch," he concluded.
At 18:00 local time, the rand was bid at R7.5559 to the dollar
from its previous close of R7.6371. Before the data was released at
15:30, dollar/rand was at 7.6142.
The rand was bid at R9.9114 to the euro from R10.0349 before,
and at R11.9125 against sterling from R12.0692 previously.
The euro was trading at $1.3119 from its previous close of $1.3136.
Meanwhile, Dow Jones Newswires reported that the US labour
market grew at its most robust pace since last spring in January, a sign
that the economy's momentum had carried into the new year.