The House of Representatives this afternoon(SA time)rejected the Bush administration's proposed $700 billion rescue package for the financial sector, triggering a massive sell off in stocks and a rush … [Read more...]
Offshore and Local Investing Investment News from South Africa and around the world
Trevor Manuel Willing to serve under new President
Trevor Manuel said on Tuesday that he was willing to serve in a Kaglema Mothlante cabinet if asked to do so. This seemed to immediately have a somewhat calming effect on markets.The rather one-sided … [Read more...]
Trevor Manuel and Nine other Cabinet Ministers Resign
Today, Tuesday the 23rd of September, the following statement on the resignation of members of Cabinet and Deputy Ministers was made by the office of the president: President Thabo Mbeki has, to … [Read more...]
Thabo Mbeki Resigns & two Cabinet Ministers follow suit
The South African president announced his resignation on Sunday night. This happened after an ANC NEC meeting last week voted overwhelmingly to ask him to vacate his office as President of South … [Read more...]
Short Selling Ban did the job for now
The UK's SFA and the US's SEC announced rules to restrict the short selling of stocks last Wednesday, global stockmarkets rallied tremendously on Thursday and Friday. It led to the biggest rally in … [Read more...]
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