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(Photo by GIANLUIGI GUERCIA / AFP)Eskom on Tuesday said it noted with disappointment the decision by rating company, Moody’s Investor Services to downgrade the long-term corporate family rating (CFR) of Eskom to ‘B3’ from ‘B2’.Moodys also revised the zero-coupon Eurobonds rating to ‘B3’ from ‘B2’ in line with the CFR and the global medium-term note (GMTN) programme and the senior unsecured GMTNs of Eskom were downgraded to ‘(P)Caa1/Caa1 from (P)B3/B3. The outlook remains negative. Moody’s has simultaneously affirmed the Baa3 rating on Eskom’s government-guaranteed notes.Read: “Load shedding at short notice” possible before ThursdayEskom: Our electricity supply system remains fairly constraint“We acknowledge the…
Canva.comNone of the 31 men that represented South Africa at the World Cup Rugby in Japan got there by going on a short course and then stepping out onto the global stage. It took them years of dedication, the right mentors and a bit of luck that they were blessed with talent to compete at the highest level.Why is that so many believe that they can register for a forex trading account and become millionaires overnight? The truth is that social media is littered with people holding wads of cash and posing next to flashy cars and very few of…
Canva.comThe concept of co-working is not new – even in South Africa. But the benefits of this way of working may not be fully comprehended yet. And despite the headwind a company like WeWork has recently received, the South African model of sharing working space is taking off. Look at Workshop17, for example.Why it makes sense in South AfricaWhen you consider the high cost of office space in South Africa, particularly in sought-after areas, it makes economic sense to alleviate that expense. The fluidity of the South African economy means that employers do not want to tie themselves down by…
Canva.comThis Rand report is brought to you by Sable InternationalWeaker than expected local data (consumer confidence and producer manufacturing data released on Tuesday) weighed down the Rand’s upward trend. This, together with the return of a bearish outlook on emerging markets (EM) caused the ZAR to trade mixed on Wednesday as renewed uncertainty regarding the outcome of trade talks between the US and China reared its head again.This trend reversed on Thursday after China and the US indicated that they will look at phasing out trade tariffs. EM currencies buoyed as risk appetite returned to the markets. This caused the Rand…
Canva.comPositive news also came in the form of a further interest rate cut by the US Federal Reserve and the UK nearly passing a new Brexit deal. In South Africa, Resources surged on the back of a weaker rand following a disappointing Medium-Term Budget Policy Statement. The broad-based global risk-on sentiment helped boost emerging markets, with the local bourse closing the month in the black in spite of Moody’s downgrading SA’s credit rating outlook from stable to negative.South AfricaThe rand fell 2.4% against the US dollar, its sharpest decline in more than a year, after Finance Minister Tito Mboweni delivered…
Image suppliedForex is the largest exchange in the world with roughly 5-trillion USD worth of currency being sold and bought there each day. The market is incredibly popular, with thousands of traders large and small constantly speculating on multiple currency pairs.But how did Forex become so popular and how exactly can normal people make money off it? To figure it out, we met up with Felix Dlamini. Felix is aJohannesburg-based Forex trader who’s been trading for living for over eight years.Felix, how did you become a trader?Look, I always knew that there’s no way I would work 9-to-5. Having money…
Canva.comDiversit-e Smart Trade College’s Forex-, Bitcoin CFD and Stock Market e-Learning courses are about personalised coaching and mentoring start-ups how to trade and earn safely. Our user-friendly, e-Learning forex trading courses allow you to study from home or your office and at your own pace.The basis of the company’s clients’ trading success is the fact that they receive personalised coaching and mentoring from coaching- and trading specialists. They believe in providing the best personal coaching and expert experience for their clients. They operate globally and is their primary goal to ensure trading is as user-friendly, profitable and memorable as possible.The company offers excellent opportunities to educate millennials on the laws of wealth creation as well as…
Image courtesy of PixabayYou go into business because you have a burning desire to change the status quo. To solve a massive problem than has personal meaning to you. Or to follow your heart and live your passion. To serve others. To create an asset of value for you and your family. Whatever your reason – it was never the hours of administrative tasks that currently suck you in and keep you away from doing what you do best. And doing too many of those long hours over many years could just be enough to make you forget why you…
Image via: Eskom / TwitterHe’s caused a mixed reaction in political circles, and it’s an appointment that has divided South Africans. Nampak’s chief Andre de Ruyter was officially made Eskom CEO on Monday night, and he will begin the arduous task of turning around the firm’s fortunes from January 2020.He replaces Jabu Mabuza, whose time as acting CEO came to an end last month. ADR is the first permanent CEO of the company since June, and he’s got a mountain of work ahead. But why is his appointment so contentious? We’ve looked into de Ruyter’s background to establish a clearer…
Photo: Adobe StockThis Rand report is brought to you by Sable InternationalEven though nothing too concerning occurred, the local news has been dominated by doom and gloom surrounding South Africa’s State-owned Enterprises (SOEs).As the week came to an end, SAA employees went on strike causing many SAA flights to be grounded and cancelled. During this time, the Rand strengthened, contrary to what one would expect to happen considering investor sentiment. One possible reason for the resilience of the ZAR could stem from global factors, mainly the US-China trade war. According to the main US negotiator, they are “in the final stages”…