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Mfuneko Toyana

UPDATE 1-South Africa says inflation risks balanced as holds rate

28 Mar 2019

PRETORIA, March 28 South Africa's central bank kept its benchmark repo rate unchanged at 6.75 percent on Thursday in a unanimous decision, saying the risks to the inflation outlook were "more or less evenly balanced".

South African court blocks mine union's plan for industry-wide strike

15 Mar 2019

RUSTENBURG, South Africa South Africa's labor court has rejected a request by the Association of Mineworkers and Construction Union (AMCU) to hold an industry-wide strike covering the platinum and gold sectors, Anglogold Ashanti, Anglo American Platinum and Lonmin said on Friday.

UPDATE 2-South African court blocks mine union's plan for industry-wide strike

15 Mar 2019

* Job cuts politically sensitive ahead of May polls (Adds union appealing decision, quote from judge)

Cyclone Idai lashes Mozambican port, hits communications

15 Mar 2019

MAPUTO/JOHANNESBURG Parts of Mozambique were cut off on Friday as a tropical storm battered the coast and the major port city of Beira with heavy rain and winds of up to up 170 kph (105 mph).

UPDATE 2-Farming boosts South Africa's fourth-quarter GDP growth

05 Mar 2019

* 2018 economic growth at 0.8 percent (Adds more details, analysts comments)

UPDATE 3-After Eskom bailout, focus shifts to South Africa's credit rating

21 Feb 2019

* South African power firm Eskom gets 23 bln rand a year bailout

South Africa pledges $5 billion Eskom bailout as budget creaks

20 Feb 2019

CAPE TOWN South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget that exposed the limited room President Cyril Ramaphosa has to fix the economy ahead of an election in May. | Video

UPDATE 4-South Africa pledges $5 bln Eskom bailout as budget creaks

20 Feb 2019

* Ramaphosa struggles with divided party before May vote (Adds Moody's, market reaction, Eskom chair, more Mboweni)

Eskom split to minimize risks to South Africa, Ramaphosa says

14 Feb 2019

JOHANNESBURG/CAPE TOWN South African President Cyril Ramaphosa said his plan to divide struggling state power firm Eskom into three units would minimize risks to the economy, as a fifth day of power cuts hurt businesses and drove the rand to a six-week low on Thursday.

Rand volatility rises as investors turn bearish after Ramaphosa speech

08 Feb 2019

JOHANNESBURG, Feb 8 Investors on Friday raised their bets on a weaker South African rand as the options premium for buying currency jumped and implied volatility rose to its highest in a month, just days ahead of the budget speech and national elections in May.

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