Rand slides after retail sales data
Fin24 - Mar 15th 2012, 15:49
Johannesburg - The rand slid against the dollar in late afternoon trade on Wednesday after worse than expected local retail sales data as well as strong support for the greenback against the euro following remarks made yesterday by the Federal Open Market Committee (FOMC).
"The weaker euro and the bad retail sales data are the culprits when it comes to the rand," Anton Grobbelaar, managing director of Peritus Forex Solutions, said.
"If the dollar rand closes above 7.62, we'll soon be looking at the 7.76 level," he added.
At 15:39 local time, the rand was bid at R7.6555 to the dollar from its previous close of R7.5292 - a drop of 1.73%. It was bid at R9.9918 to the euro from R9.8453 before, and at R12.0125 against sterling from R11.8215 previously.
The euro was bid at $1.3052 from its previous close of $1.3080.
Numsa strike weighs on rand
02/07/2014 - 10:40
Johannesburg - The rand edged down against the dollar on Wednesday as a national engineering strike entered its second day, weighing on investor sentiment in Africa's top economy.
Tesco's annual profit slumps
22/04/2014 - 10:54
London - Britain's biggest retailer Tesco said it saw no let up in sight as it posted a 6% fall in annual profit, its second straight year of decline, piling pressure on chief executive Phil Clarke.
Costco shines in March as other retailers muddle through, U.S.
14/04/2014 - 08:26
New York -- March was a so-so month for retailers, whose performance was impacted by unspring-like, cold temperatures in many parts of the country and a late Easter. (Easter falls on April 20 this year as opposed to March 31 last year.)
Survey: Payment card fraud rises in 2013, United States
04/04/2014 - 09:24
Washington, D.C. -- Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated, according to the 2014 AFP Payments Fraud and Control Survey released by the Association for Financial Professionals (AFP).
Local market drives Namibia Breweries profit
27/03/2014 - 11:52
The local market drove Namibia Breweries Limited (NBL) profit after tax to reach N$170 million in the six months ended 31 December 2013 compared to N$121 million in the same period in 2012. Profit before tax was N$235 million compared to N$181 million for the same period in 2012.