Inflation rate goes down, but current-account deficit goes up

THE inflation rate fell further below the midpoint of the target range in February, giving the Reserve Bank another reason to consider easing monetary policy this week. Inflation slowed to 4%, the lowest level in almost three years, from 4.4% in January, Stats SA data showed. Prices rose 0.8% in the month.

ADVTECH chalked up another impressive performance from its tertiary division in the year to end-December, a showing that overshadowed the private schools segment, which has traditionally been viewed as its main profit centre. The tertiary segment reported revenue up 26% to R1.58-billion.

SOUTH Africa aimed to finalise revised plans for black ownership in the mining industry by the end of May, Minister of Mineral Resources Gwede Mantashe said, promising to deliver “policy certainty” to an industry worried about new costs. THE current-account deficit widened more than expected in the fourth quarter of last year to 2.9% of GDP from 2.1% the previous quarter, the Reserve Bank said. However, for the year, the deficit narrowed to 2.5% from 2.8% in 2016. TIGER Brands recalled yet another batch of products, a move that could cost it up to R800million, twice the R324million in operating profit generated by its snacks, treats and beverages division for the year to end-September. It recalled all products manufactured at its Value Added Meat Products facility in Pretoria, due to the detection of the listeria bacteria.

FORMER energy minister Tina JoematPettersson and the then CEO of the Strategic Fuel Fund, Sibusiso Gamede, were named in court papers as the people at the centre of the secret sale of 10 million barrels of strategic fuel reserves in 2015.