The Trade Activity Index (TAI) showed a slight increase in June, the South African Chamber of Commerce and Industry (Sacci) said on Tuesday. The...

more Business Information ...

The country’s economy has battled to fully recover from the impact of the 2009 recession due to low productivity in the mining and manufacturing... ...

more Business Information ...

Electricity parastatal, Eskom, on Friday reported a net profit of R7.1 billion for the year ended 31 March 2014 – up from R5.2 billion in the...

more Business Information ...

President Jacob Zuma, who is already in Brazil, will join leaders from Brazil, Russia, India and China, which make up the BRICS grouping, for their...

more Business Information ...

President Jacob Zuma has conveyed his condolences following the passing of Nobel Prize winner and South African author Nadine Gordimer. “South Africa has lost a great patriot, a renowned writer and an outstanding voice for equality and freedom. We wish to express, on behalf of government and the entire population, our sincerest words of condo… […]Nadine Gordimer passes away is a post from: BooknSpire



more Book news...

Creating jobs for young people and bringing services close to producers is one of the biggest challenges facing the Department of Agriculture,...

read more South Africa Employment ... :ok:

Fortaleza - Russian President Vladimir Putin and South African President Jacob Zuma have held talks on broader bilateral cooperation that could be given a new impulse after the South African elections.

Starting the negotiations, President Putin congratulated President Zuma on his victory at the elections and said: “Now it is high time to recall our joint projects”.

“Despite the domestic events, we have managed to maintain a positive growth of foreign trade,” the Russian President said.

He said in the past year, trade went up 11 percent, while in the past six months, growth had reached 10 percent.

President Putin said that now when the domestic calendar did not interfere, economic cooperation should be activated.

He said confidently that: “We do have something to work on.”

President Zuma had words of gratitude for the Russian president following his good wishes.

President Zuma accepted President Putin’s proposal to discuss issues of the implementation of joint projects underscoring that Russia and South Africa were tied by the long-standing relations of friendship.

President Zuma said that his country could always count on Russia’s support and Russia could rely on the South Africans in the same measure.

BRICS Summit

President Zuma is in Fortaleza, Brazil, where he is attending the sixth Brazil, Russia, India, China and South Africa (BRICS) Summit.

South Africa will be handing over the chair to Brazil at the two-day summit themed, BRICS - Inclusive growth: Sustainable solutions.

“The Summit will emphasise social inclusion and sustainable development. It will also provide the opportunity to reflect on areas of cooperation and showcase BRICS accomplishments,” Presidency spokesperson Mac Maharaj said on Monday.

During its tenure as chair, South Africa has fully implemented the eThekwini Action Plan that BRICS leaders had tasked the country to carry out at the 5th BRICS Summit held in Durban, last year. This by hosting key ministerial meetings such as the BRICS National Security Advisors, trade, finance, agriculture and agrarian affairs, education, health, social security, and science.

Maharaj says the country also inaugurated the BRICS Business Forum and established its operational procedures as well as identified priority focus areas.

The BRICS Think Tanks Council was also established to provide critical analysis and policy advice to BRICS leaders.

The five economies are expected to sign off on the new institutions at this summit- after two years of tough negotiations.

The BRICS will pool an initial $50 billion dollars for the bank, with each country contributing an equal amount, and seek to gain influence by offering developing nations an alternative to the World Bank and International Monetary Fund.

The leaders are also expected to set up a $100 billion contingency pool, which could be available by 2015 to help any of its members if they are hit by a sudden loss of foreign capital.

Since its first Summit in 2009, BRICS has consolidated its position as a positive force for the democratisation of international relations and the countries have forged an impressive partnership carrying out cooperation initiatives in more than 30 areas between themselves.

“BRICS membership advances South Africa's national interests through pursuing key economic priorities related to poverty alleviation, job creation and reducing inequality,” Maharaj said. – SAnews.gov.za-Itar-Tass

Equity Returns – Optimistic arguments about longer-term profits to be made in US shares are “deeply flawed” as they’re based on double-counting and circular reasoning, Brett Arends argues on Marketwatch. Future returns are extrapolated from past returns. But a dramatic upward re-rating of stocks was experienced in the past. It’s unlikely that can be repeated. [...]

The post Why Lower Equity Returns Look Likely appeared first on TheBizSense Views.



read more Business Viewpoints ...

Government says it has noted with growing concern the escalation of violence between Israel and Palestinian territories.

According to the Department of International Relations and Cooperation, government is further concerned at the “endless wanton” killing of Palestinian civilians, especially those from vulnerable groups such as old men, women and children and the destruction of property.

A total of 87 people have been killed and 670 wounded since Israeli began its airstrikes campaign against targets in the Gaza Strip on Tuesday.

The Israeli bombardments have led to the destruction of homes in Gaza and innocent civilians being killed in these air strikes, noted government.

It said it was also concerned about the increasing number of rockets targeted at Israeli cities - with some reaching as far north as Haifa putting innocent civilians at risk.

Government said the threatened ground invasion of the Gaza Strip “will certainly throw the situation completely out of control”.

“We do not agree that the cruel incidents of the kidnapping and murder of three Israeli boys and the subsequent kidnapping and murder of a Palestinian boy in Jerusalem be used as grounds to escalate the violence.

“Furthermore, these unfortunate incidents should not be used, from whatever quarter, to cast aspersions on the legitimate existence of the Unity Government in Palestine, whose advent was welcomed by the whole of peace-loving mankind,” said the department.

South Africa has strongly urged all sides to refrain from responding to violence with violence and to exercise restraint, including a halt to the arbitrary arrest of Palestinian civilians and the use of collective punishment on Palestinians.

“The lasting solution to the Middle East problem lies in serious and genuine negotiations involving all parties.” – SAnews.gov.za

Trade and Industry Minister Rob Davies says it would be an advantage if the Brics Development Bank was to be located in Johannesburg. The minister...

more Business Information ...