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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.
The rand was off its best levels of the day against the dollar in late
afternoon trade on Wednesday as it tracked a euro that had slid against
the greenback following comments from the German Ministry of Finance.
There were also rumours in the market that eurozone officials
were considering a delay to all or part of the second Greek bailout
until after the Greek elections expected in April.
"There's been a euro sell-off and considering this, the rand
has remained quite strong and hasn't weakened as much as we expected," a
local currency trader said.
At 18:00 local time, the rand was bid at R7.7212 to the dollar
from its previous close of R7.7157. It was bid at R10.1010 to the euro
from R10.1293 before, and at R12.1169 against sterling from R12.1113
previously.
The euro was bid at $1.3079 from its previous close of $1.3129.
Meanwhile Dow Jones Newswires reported that euro fell across
the board after the German Ministry of Finance said it was still missing
documents from Greece and that it needed further assurances from the
country that reforms would continue after Greece's national elections in
April.