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2020 Olympics Still on Cards

Despite announcing in May that a bid for the 2020 Olympics would not take place so government could focus on service delivery, SA Sport Minister Fikile Mbalula yesterday said the option of bidding was not completely off the table.

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Rand Drops Nearly 1%

| News by Staff Reporter

The South African rand dropped by nearly 1 percent on Friday


The rand fell by nearly 1 percent to R6.9055 (by 08:49) on Friday morning after ending Thursdays session at R6.83080.

Analysts attribute the drop in the rand/dollar strength on Friday to investors weary ahead of the stress tests on European banks, seeing them shy away from risky assets.

Market sentiment was also marred by worries over the United States credit ratings situation data on which economists and investors are today intently focussed.

Government bonds remained relatively unchanged from overnight levels, with the yield on the four year bond at a flat 7.48 percent and that of the 2026 issue increasing one basis point to 8.61 percent.

Source: www.bizpremises.co.za