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SA Wind Energy Association welcomes bidders

The South African Wind Energy Association (SAWEA) has welcomed the announcement of the preferred bidders from the second window of the Department of Energy's Renewable Energy Independent Power Producer (IPP) Procurement Programme.

Tourism accommodation income up from a year ago

Income from accommodation for the tourism industry increased by 15.1% year on year in the first quarter, data from Statistics SA on Monday showed.

BEE costs weigh on Pioneer earnings

Pioneer Food Group posted a 44% drop in its interim headline earnings to R236 million, primarily due to R161 million worth of once-off costs associated with the implementation of its phase two broad-based black economic empowerment (B-BBEE) deal.

Foreigners bought net R1.882bn SA bonds last week

Foreigners were net buyers of R1.882 billion of South African bonds including repurchase agreements in the week ended May 18, after net sales of R543.837 million of local bonds the week before, figures from the JSE show.

African Bank guards against unsecured lending

With much debate in the market about the high growth in unsecured lending, African Bank says it initiated preventative action some time ago by making its underwriting criteria and affordability tests more stringent.

Rand

Rand off best; waiting for G8 plan

The volatile rand was off its best levels in late trade on Monday as more clarity on new global plans are awaited. Concrete measures to handle the Greek crisis ahead of a June 17 poll are expected.

Bonds

Bonds firmer on foreign demand

South African bonds were a bit firmer in afternoon trade on Monday on the back of foreign demand.

JSE

New Greek vote a pivotal event for JSE

Renewed risk aversion sent the rand and JSE packing by 3% last week, though early indications are that a little respite is in store between now and the Greek elections in June.

Grains

Maize futures rally, track US markets

South African maize futures rose on Monday, in line with corn prices on the Chicago Board of Trade, amid dry weather concerns in wheat producing regions.

More SA market news

Western Cape wants share of R5bn youth subsidy now

Western Cape Premier Helen Zille wants National Treasury to release the province's share of the R5 billion allocated to it for the youth wage subsidy.

India, China, Taiwan lead South Africa April coal imports

Asia absorbed most of South Africa's 5.2 million tonnes of coal exports in April, led by India, China and Taiwan, exporters said.

First quarter land transport payloads rose 5.3%

SA's land transport payloads rose by 5.3% year on year in the first quarter despite a 3.6% year on year decline in March, Statistics SA data showed on Monday.

SA dairy exports on the rise

Fast growth of dairy exports in March and April have resulted in the South African dairy industry becoming a net exporter of dairy products for the first time in two-and-a-half years, said the Milk Producers' Organisation in its latest issue of market signals.

Manufacturing seen shrinking in 2012

Inflation-adjusted manufacturing value added is expected to shrink by 0.7% during 2012, with a rebound only expected in 2013, Iraj Abedian, economist and compiler of the manufacturing quarterly bulletin says.
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Eskom to auction EL28, ES33 bonds on May 23

South Africa state-owned power utility Eskom said on Monday it would auction 100 million rand ($12.01 million) of its EL28 CPI inflation-linked bond due in 2028 and 200 million rand of its 2033 bond on May 23.

State was warned against e-tolls: report

The government was warned in 2010 that collection costs for the controversial e-toll system would be considerably higher than a petrol levy or tax, Beeld newspaper reported on Monday.

Cape Town cuts vendor list

The City of Cape Town is to cut its vendor database by over half after finding that some companies secured business by irregular or fraudulent means, the Cape Times reported on Monday.
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Week Ahead: Data releases for week May 21 to 25

Although not a data-filled week, two key sets will be released, namely consumer inflation (CPI) data and a statement from the South African Reserve Bank's (SARB) Monetary Policy Committee (MPC).

Manufacturing seen shrinking 0.7% in 2012

Inflation-adjusted manufacturing value added is expected to shrink by 0.7% during 2012, with a rebound only expected in 2013, Iraj Abedian, economist and compiler of the manufacturing quarterly bulletin says.
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Gordhan's great debate

Finance Minister Pravin Gordhan found himself playing goalkeeper during the debate on the National Treasury's budget in Parliament on Friday.
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New frontiers explored in minerals hunt

Miners search far and wide for mineral wealth, as the world's resources continue to shrink and the population gets larger, miners are looking towards oceans - and even space.

Postponement of e-tolling creates unpredictability

The postponement of the e-toll system creates an element of unpredictability in government finances.

MPC likely to keep rates unchanged

The continuing debt crisis in Europe and renewed uncertainty about the future of Greece will most likely be important discussion points when the Reserve Bank's monetary policy committee (MPC) starts its two-and-a-half-day meeting on Tuesday.

Metals market could take nerves of steel

When analysts at European commodities group Natixis headline their latest quarterly analysis of the global metals market with the words "Abandon hope?" it is perhaps time to consider just where we are heading.

Massive SOE bailouts push budget to five times 2011 level

Public Enterprises Minister Malusi Gigaba this week tabled a budget of R1.25-billion for his department for the 2012-13 financial year, but several of the state-owned enterprises (SOE) under his department are still plagued by financial and management issues.

Khoza sticks to his guns on leadership

Reuel Khoza, Nedbank's chairman, says he is neither surprised nor disappointed that President Jacob Zuma remained silent when ANC leaders and some cabinet ministers lashed out at him for his comments in the bank's annual report.
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Court win might not save job for commissioner

National Consumer Commissioner Mamodupi Mohlala-Mulaudzi won the first round of her employment battle against the Department of Trade and Industry (DTI) in court on Friday, but she may still be out of a job by September this year.

Sexwale ruffles builders' feathers

The Master Builders South Africa (MBSA), a national organisation representing the building industry, is none too pleased with Tokyo Sexwale's proposal for a state construction company.
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First quarter manufacturing confidence stable

Manufacturing sector business confidence remained stable during the first quarter of 2012, the Manufacturing Circle's quarterly bulletin released on Friday showed.

Economic growth slower than expected - Gordhan

Economic growth in the first quarter was lower than expected, with slow retail sales, but mainly due to the effects of the strike at the Impala Platinum Mines, says Finance Minister Pravin Gordhan.

Consumer commissioner cocks snoot at DTI minister

National Consumer Commissioner Mamodupi Mohlala-Mulaudzi believes that she has a good chance of being reappointed even though she has cocked a snoot at her political boss Trade & Industry Minister Rob Davies.
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SA energy programme attracting foreign investors

SA's first foray into renewable energy has every chance of success with billions of rands from foreign investment expected to flow into the country, says professional services firm PricewaterhouseCooper's.

Wholesale trade sales ease in March

The latest data release by Statistics SA shows that growth in wholesale trade sales eased sharply from an upwardly revised 14.0% (13.9%) year-on-year (y/y) increase in February to a 5.3% y/y rise in March 2012. This is the lowest y/y increase since July last year, reflecting a marked slowdown in demand, from stronger levels at the beginning of the year.

Gold heads for third week of decline

Gold ticked up on Friday, after posting its largest one-day gain in more than three months in the previous session, but prices were on track to drop for a third straight week on mounting worries over the euro zone debt crisis.

SA's wheat imports up to 1.101 million tonnes

SA imported 42,610 tons of wheat in the week ended May 11, after 20,575 tons were reported for the previous week, according to SA Grain Information Service's latest data.
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Ease motor trade growth expected

Year-on-year growth in the value of motor trade sales conformed to our expectations, and eased to 8.8% y/y in March 2012, from 12.7% y/y in February.

Energy Minister Peters 'prays' for fracking

Energy Minister Dipuo Peters has nailed her flag firmly to the pro-gas extraction lobby (also known as fracking) saying that it could contribute to the security of energy supply in the country.
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Civil cases drop may have bottomed out

Official statistics continue to indicate that, while the overall negative growth trend in civil cases for debt has been sustained, this is certainly less negative than had been previously observed.

Gauteng faces infrastructure pressures

The Gauteng province, being the financial and economic hub of SA, is faced with "major infrastructure pressures", Mandla Nkomfe, Gauteng Finance MEC says.

SA's 2012-13 white maize exports hit 11,987 tons

SA exported 8,390 tons of white maize in the week ending May 11, compared with 3,597 tons the week before, the South African Grain Information Service's weekly report showed.

March motor trade sales better than a year ago

Motor trade sales grew at a slower pace in March 2012, registering 8.8% to R39.5 billion compared with 16.2% in the same period a year ago, according to the latest Statistics South Africa data.

Building plans up from previous quarter

The real value of building plans completed as reported by larger municipalities rose by 17.6% quarter on quarter seasonally adjusted and annualised in the first quarter 2012, according to Statistics SA data released on Thursday.

Public enterprises budget vote 'on the mark'

Deloitte has welcomed Public Enterprises Minister Malusi Gigaba's budget vote, saying it bodes well for SA's growth.
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