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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 steadied against the dollar on
Tuesday and was expected to make another attempt at 3-year highs hit in the
previous session as the greenback remains on the back foot.
Trading returns to normal in domestic markets after a number
of public holidays that led to a lull since the Easter weekend.
Domestic stocks look set to open down, catching up with
global markets that edged lower on concerns strong corporate results may not be
enough to sustain profitability given higher input costs.
Stocks had initially rallied on news of al Qaeada leader
Osama bin Laden's death.
The rand advanced to R6.5410 on Monday, its strongest since
the fourth quarter of 2007. By 06:36 GMT, it stood at R6.61 to the dollar, not
far from Monday's New York close of R6.6089.
Dealers said the rand was likely to retest R6.55 in the
session as the dollar remained soft.
Market analysts Tradition Analytics said in a note the
dollar's weakenss should persist as investors use it as a funding curreny for
carry trade activity.
The rand is likely to trade in a R6.55 to R6.67 range and
dealers will use levels in the mid-6.60's to sell dollars.
On fixed income, government bonds were mixed ahead of an
auction whose results will be out after 09:00 GMT. The yield on the 2015 note
R157 went up 0.5 basis points to 7.655% and that on the 2026 issue R186 was
down one basis point at 8.68%.