Listen to Pravin Gordhan’s interview about the medium term budget and the market analysis intrviews on Summit. His major balancing act is applauded.
Main points:
Gordhan cuts forex controls to curb rand
Making it easier for companies and individuals to invest offshore.
– Business Day
– Pravin Gordhan – Finance Minister and Market Reaction intervieiws
– Transcripts
– Look out for more indepth analysis form the Financial Mail, from Oct. 30 2009
I feel like we’re the USA when they voted in George Bush for the 2nd term in office. I guess you could draw a parrallel between the US hicks and SA masses. ; ) Sorry (Lol!!! – I think)
Just look at the stats from IOL:
By 9.50pm, the ruling party had 7,484,389 (66.52 percent) of the 11,250 943 votes counted. Earlier, with just over 10 million votes counted, the ANC had 66.85 percent of the vote.
The DA was second with 1,841,277 (16.37 percent) of the votes. The newly established COPE was third on 861,406 (7.66 percent) votes.
Sad huh? Here we were as South Africans making fun of Americans for voting in the Republicans for a second term in office. Look, it was inevitable that the Z was gonna win but we were hoping to cut down the two 3rds, heck that’s why I woke up so early and stood in line, in the blistering cold for like almost 3hrs.
According to iafrica.com – Milan fashion week opened with “around” 10 fewer shows in the lineup.
While some did “admit” they were being cautious because of economic reasons others cited “strategic” reasons for not being in the lineup. But hey – u need to only look at at those poor starved models to see what the real reason is… ; ) Jokes -MORE
Here is a quick look at what this means for the US and the global economy from BBC
And this is what South Africa’s Lavan Gopual had to say on Summit TV:
The US interest rate decision will certainly impact world markets – our cue will certainly be coming through from that dollar price affecting commodities, also we’ve got a lot of action with futures close out and inflation data on our dance card. –more
Huge cargo ships are quitely taking a different route in order to avoid the Pirates infest the gulf of Aden and the Suez Canal…
The Saudi supertanker seized by pirates with a $100-million (about R1-billion) oil cargo in the world’s biggest ship hijacking has reached Somalia, while a cargo ship loaded with wheat bound for Iran has been captured in the Gulf of Aden – IOL
Obama has made history and has become the first black president. The democrats took the gamble – reckoned that the time for change had come and elected a female candidate and a black candidate to run. Both proved highly popular. Their decision would make history if either candidate won the general election. And yes indeed it has. As much as I love seeing this, it also worries me the amount of rubble that Obama will be taking over… But he wants it and God speed – I hope he becomes the change that the US needs, having the 1st black president is only the 1st step – a change in policies, especially concerning the Iraq war and current economic turmoil. Obama – me loves u! Get ’em tiger! : )
US Election Special Report – Business Day
Obama Triumphs – Yahoo
Analysis of the elections – Summit TV
Within a month the rand has slumped from 8 rand to the dollar to above the 11 rand to the dollar mark – it has been flirting with the 12 rand to the dollar mark by dropping to 11.80 to the dollar etc. American policies to save the economy have strengthened the dollar significantly – weakening other global currencies against it.
Brigid Taylor – Currency Specialist from Rand Merchant Bank has more
So the rand is clawing it’s way back up, infact it’s been strengthening quite rapidly throughout the day. Phew! Thank goodness – that was an insane ride! So now we are at:
R/$ 10.02 |
R/€ 13.52 |
R/£ 17.26 |
Mighty kewl – but let’s see what the evening holds instore for us. Hopefully it has a great beauty sleep and wakes up below the R10 to the dollar mark : ) !
You can now drink your own pee with out risk of getting sick through cleansing it with cow dung and guess what… you can have electricity as a byproduct! Truly amazing! Ok – it truly is amazing despite the fact that it does sound a bit gross… just a bit…
But if you’re smart and you want to better your rural areas and in fact some of the urban areas especially in developing countries this seems like a gem for any NGO that seeks to improve people’s lives, and infact the government too!
This is a really funny story – although it wouldn’t be funny if it happened to you. I mean, I’d be super irritated and want to knock somebody’s ribs in. But the way it’s written ir really funny and get who gets to be the but of the joke – cops of course… C’mon guys! : )
spykedup! 