Despite throwing heaps of money at the problem, so far there's no sign that the U.S. and Europe can avert recession, which could lead to depression. Last week, we heard that China was doing something similar, but rather than bailing out troubled banks it's concentrating on infrastructure, the sorts of thing that helped reduced unemployment in the 1930s Great Depression.
This article suggests that South Africa should focus on four broad issues at the coming G20 Summit: supporting global growth, supporting regulatory reform and reconfiguring the IMF, supporting reform of Asian currency management practices, and underlining support for the Doha Round of WTO negotiations.
The ripple effect of the global financial crisis could force a review of several key projects in the country, including the electricity generation programme, according to a senior minerals and energy department official.
Coloured gemstones miner Gemfields Resources, which is 28% owned by JSE-listed Pallinghurst Resources, had allowed its offer for shares in Tanzanian-based miner of precious stones TanzaniteOne to lapse, it said yesterday.
South Africa's various engineering professional bodies continue to lobby against the Built Environment Professions Bill which, if promulgated, will change the way in which their professions are regulated.
Standard & Poor's (S&P) revised its outlook on South Africa's sovereign credit rating to "negative" from "stable" yesterday, warning that capital outflows could depress the rand more, keeping inflation high and delaying expected cuts in interest rates.
Faced with sharp declines in commodity prices and a contracting global economy, South Africa's mining companies are going to experience a significant decline in corporate profits, warned international growth consultants Frost & Sullivan (F&S) today.