Business

Inflation targets remain priority Repo rate up again
PRETORIA -- The SA Reserve Bank yesterday announced an increase in its repo rate by a full percentage point -- the second increase this year. Governor Tito Mboweni said the rate at which the central bank lends money to commercial banks would be a...

Banks stage rally as Zim caution prevails
JOHANNESBURG -- Shares in South African banks staged a modest rally yesterday despite a hike in the central bank repo rate, but caution over Zimbabwe's controversial presidential election capped broader gains. The SA Reserve Bank raised the repo...

Banks raise prime rate to 15%
JOHANNESBURG -- South Africa's "big four" commercial banks will hike their prime lending rate to 15% after the Reserve Bank yesterday announced a 1% increase in its repo rate to 11,50%. Absa and Standard Bank will hike their home loan base lendin...

BOE sound, solvent say govt officials
PRETORIA -- Despite the recent unprecedented level of withdrawals of deposits from BOE Bank Limited, the bank is well-managed and sound, according to a joint statement issued yesterday by Finance Minister Trevor Manuel and Reserve Bank governor Ti...

Ethics not taken seriously -- report
DURBAN -- South African organisations have not been able to integrate ethics management practices into their existing management processes and many are only paying lip service to ethics, a local survey done by major accounting firm KPMG revealed o...

Investment fell by 40% ­ report
LONDON -- Foreign direct investment plunged by 40% worldwide in 2001 but should recover strongly in 2003 after stagnating this year, The Economist Intelligence Unit (EIU) -- a sister company of the The Economist weekly magazine -- said yesterday. ...

GOLD
NEW YORK -- Selected gold prices (in US dollars per troy ounce) yesterday: Hong Kong: 293,15 London: 290,60 Paris: 290,23 Frankfurt: n/a Zurich: 290,65 -- Sapa-AP Eastern Cape  ...

NEW HIGHS and LOWS
NEW HIGHS PRICEPREV ASSMANG 2446414964 IMPLATS 23641964 GENCOR 54205320 BARWORLD 67506620 CERAMIC 66506600 SASOL 1274012500 ENERGY 38203800 SG SOL C6577555 SG AMS C2216208 SG AMS C6121119 IB AMS C28078 GB SOL C1145136 IB ENR C1122118 DB ...

MAJOR MOVEMENTS
DAILY TOP 10 UP UB BOE C275+ 250,0 SG BOE C132+ 200,0 SG IMP P542+ 100,0 DB AGL P542+ 100,0 IB BOE C294+ 80,0 FASHAF 31+ 50,0 DB BIL P431+ 50,0 BP BOE C262+ 50,0 SG SBC C3165+ 45,5 SG SBC C572+ 40,0 WEEKLY TOP 10 UP INCENT 21+ 100,0 DB AGL P...

RATES OF EXCHANGE
JOHANNESBURG -- Yesterday's closing exchange rates, as supplied by Standard Bank: (R/£, R/Euro R/US$ and R/Irish£, other rates per rand.) BRITISH STERLING16.8238 EURO CURR UNIT10.3962 IRISH POUND12.7742 UNITED STATES DOLLAR11.7550 ARAB E...

Rich nations urged to up aid
WASHINGTON -- The world's poorest countries will struggle to slash poverty even as economic growth edges higher this year, the World Bank warned in a report released on Wednesday. The report, Global Development Finance, adds fuel to a heated deba...

SHIPPING
In port last night: Ngol Kwanza in drydock. Arrived yesterday: Nil. Sailed yesterday: Nil. Due today: Nil. Eastern Cape   South Africa   Foreign   Business  &nbs...

JOHANNESBURG SECURITIES EXCHANGE at the close
Use your computer to receive JSE prices, futures, graphs and more. Details an accuracy queries: Sharenet: (021) 710 5700. See our internet site at http://www.sharenet.co.za MINING COAL CENTURY4SUS WANKIE25 DIAMONDS AFGEM160+10 TRNSHEX1535+5 GO...

UNIT TRUSTS
JOHANNESBURG - Yesterday's quotations for Mutual Funds were: FUND NAMEBUYSELL ABSA Fund Managers: Aggressive FoF142,17135,75 Balanced A147,54138,48 Balanced R147,57138,50 Fincl&Ind Index94,9689,13 Flexible109,37102,65 General A257,89242,05 Ge...