Alibaba is a Chinese e-commerce company, made up of various online outlets and functions. Their revenues are generated from a number of websites, such as Taobao.com and TMall.com, which provide online marketplaces in which buyers and sellers can conduct business in wholesale or retail trade. These sites generate income through… Continue reading
The South African Reserve Bank kept interest rates unchanged at 5.75% in their September meeting, citing a marginally improved inflation outlook (despite high August inflation at 6.4%), coupled with an anemic growth outlook. The improved inflation outlook comes despite a weakening exchange rate vs the US dollar, on account of notable declines in global food and fuel prices.
The decision to keep rates unchanged was in line with expectations, and is viewed as a positive for the SA markets. Additionally, the decision means that the Bank of Namibia is less likely to hike rates at their next MPC meeting in October.
The full statement can be seen below:
GDP Growth for 2013 revised up to 5.1%, from 4.4% This afternoon the NSA released its final national accounts for 2013, following the release of the preliminary figures in Q1 of 2014. What is immediately striking in this release is the magnitude of the change between the preliminary and final… Continue reading