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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 softer against the dollar in afternoon trade on Monday as
it tracked a euro that had weakened on concerns that the Greek
government would default on its debt obligations.
"The negotiations started out as a script for a tragedy that
had to be avoided at all costs, but as they have dragged on with various
actors entering and exiting the stage, it has turned into a farce," a
local forex trader said.
At 15:57 local time, the rand was trading at R7.6181 to the
dollar from its previous close of R7.5160. It was trading at R9.9389 to
the euro from R9.9032 before, and at R12.0034 against sterling from
R11.8929 previously.
The euro was trading at $1.3048 from its previous close of $1.3125.
"Although Greek officials indicate that they reached a
tentative agreement over the weekend, failure to satisfy EU officials
this morning could jeopardise the much needed $14.5bn financial
aid that Greece is looking to obtain from the EU by mid-March for some
of its existing bond repayment commitments," Barclays Capital said.