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South Africa tells investigators to clarify rand-rigging charges 

By: Bloomberg     12th June 2019 The Competition Tribunal ordered antitrust investigators to clarify their charges of currency manipulation brought against more than 20 banks, drawing out a four-year legal battle. The tribunal, which adjudicates antitrust cases like a court, found deficiencies in referrals prepared by the... 

YES adds Blossom Care, Buddibox initiatives to its Tembisa hub

By: Marleny Arnoldi     28th May 2019 The Youth Employment Service (YES) on Tuesday launched two additional initiatives at its flagship hub in Tembisa. The additions of Blossom Care Solutions and Buddibox will result in an additional 50 direct and 300 indirect jobs being created. 

YES helps position S Africa as credible springboard into continent again 

By: Marleny Arnoldi     17th May 2019 Foreign direct investment is critical to the development of the South African economy and some innovative thinking by the Department of Trade and Industry has turned recently gazetted amendments regarding the Youth Employment Service into an additional arrow in the DTI’s quiver on a recent... 

Unemployment rate rises to 27.6% in Q1

By: Tasneem Bulbulia     14th May 2019 South Africa’s unemployment rate increased by 0.5 of a percentage point to 27.6% in the first quarter of this year, Statistics South Africa’s (Stats SA’s) latest Quarterly Labour Force Survey (QLFS) shows. The increase in the unemployment rate is attributable to a decline of 237 000 in the number... 

South Africa’s mining production beats expectations

By: Simone Liedtke     9th May 2019 Even though mining production continued to contract in March, dropping by 1.1% year-on-year, the March performance is considerably better than the 7% contraction that economists forecast. The production decline softened unexpectedly against February’s 8.1% year-on-year plunge, revised upwards... 

Ramaphosa addresses YES youth concerns

By: Marleny Arnoldi     2nd May 2019 Since President Cyril Ramaphosa launched the Youth Employment Service (YES) in March last year, companies have jointly committed to realising nearly 18 000 work opportunities. The President on Thursday met with YES candidates who started their paid work experience at Nedbank and responded to... 

Buffalo Coal narrows 2018 headline loss to 17c a share

By: Simone Liedtke     26th April 2019 Coal miner and supplier Buffalo Coal has narrowed its headline loss a share for 2018 to 17c, compared with the headline loss a share of 31c in the prior financial year. Its headline loss for the period decreased to R70.7-million, from R124.1-million in 2017. 

Kathu concentrated solar power project, South Africa

By: Sheila Barradas     12th April 2019 The Kathu Solar Park has officially been inaugurated. 

South Africa’s Feb mining output down 7.5% y/y 

By: Marleny Arnoldi     11th April 2019 Statistics South Africa has reported that mining production in February decreased by 7.5% year-on-year. The largest negative contributors were diamonds, with a 48.3% decrease in output, contributing -3.2 percentage points; gold, with a 20.6% decrease in output, contributing -3 percentage... 

Lucas calls Northern Cape Africa’s renewables hub as she inaugurates Kathu Solar Park 

By: Marleny Arnoldi     4th April 2019 The Kathu Solar Park, in the Northern Cape, was inaugurated by the province’s Premier Sylvia Lucas, on Thursday. The project was commissioned in February. 

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