CAPE TOWN South Africa predicted wider budget deficits and cut growth forecasts in a bleak budget on Wednesday that focused spending on infrastructure, manufacturing and agriculture to boost the recession-bound economy.
JOHANNESBURG, Oct 10 South African markets
rallied after the appointment of former central banker Tito
Mboweni as finance minister, an ANC insider and ally of
President Cyril Ramaphosa expected to focus on wooing investors
and reviving an economy in recession.
JOHANNESBURG South Africa's President Cyril Ramaphosa's spokeswoman said on Monday his office was not aware of Finance Minister Nhlanhla Nene's request to be relieved of his duties after he admitted to visiting the Gupta brothers.
JOHANNESBURG South Africa's Finance Minister Nhlanhla Nene apologised on Friday for visiting the home of the Gupta brothers - friends of scandal-plagued former leader Jacob Zuma - as pressure mounts on one of President Cyril Ramaphosa's key allies.
* Hampered by ANC infighting, fiscal constraints
(Adds detail, context)
PRETORIA South Africa will ease some immigration rules, including agreeing visa waiver agreements with more countries, in an effort to boost investment and tourism, Home Affairs Minister Malusi Gigaba said on Tuesday.
PRETORIA South Africa's president announced a multi-billion-dollar stimulus programme on Friday, earmarking funds for job creation and infrastructure development as he seeks to make good on a pledge to revive the country's ailing economy. | Video
* Bank cuts 2018 growth forecast to 0.7 pct
(Recasts, adds ANC retracting comments on monetary policy)
PRETORIA The International Monetary Fund gave its full backing to South Africa's land reform plan on Thursday, as long as the highly contentious process is transparent and based on the constitution.
JOHANNESBURG/CAPE TOWN Opposition firebrand Julius Malema introduced a bill to nationalize South Africa's central bank, putting pressure on the ruling ANC to go through with a plan it shelved this year and rattling markets wary of threats to the bank's independence.