Dear Members,

Wrap up warmly in this chilly weather, but wonderful rain. Our Dam level today is 37%.

We have only 14 seats left for the Gala Dinner on the 6^th August.  Please let me know if you would like to book.

Financial Indicators

Note: Data at close of previous trading day.

International markets

US equity markets ended little changed yesterday, recouping losses late in the day, led by a sudden turnaround in Goldman Sachs and BP. European equity markets fell after downbeat inflation and manufacturing data from the US pointed to sluggish growth, overshadowing optimism for corporate results after strong earnings from JPMorgan. Japan’s Nikkei average fell by 1 per cent after hitting three-week highs the day before, hovering near support after a Federal Reserve statement expressing concerns about the US recovery fed investor jitters.

The US dollar fell to a two-month low against the euro and a basket of currencies yesterday after dovish US Federal Reserve minutes heightened concerns about the outlook for the US economy.

Domestic markets

The JSE all-share index was slightly firmer in midday trade yesterday, with Dimension Data taking the spotlight, while investors kept a cautious stance amid the flow of corporate earnings and economic data from the US. The local bourse ended slightly firmer having surrendered its midday gains after Wall Street opened in negative territory amid worse-than-anticipated manufacturing data. The resources, platinum and gold indices fell by 0,46, per cent, 0,47 per cent, and 0,18 per cent respectively. The banks index lost 0,85 per cent and the financials index was 0,34 per cent weaker. Conversely, the industrials index was up by 0,89 per cent.

The rand remained range bound in late afternoon trade yesterday, struggling to break below R7,50 against the US dollar. The local currency is currently trading at R7,58 per US dollar, at R9,76 per euro, and at R11,70 per pound sterling.

South African bonds were slightly weaker in late trade yesterday, on what a trader described as an "incredibly" quiet day.

Commodities

Gold rose ended slightly higher yesterday as discouraging US economic indicators and modest movement in outside markets kept the metal inside its recent range. Spot gold is currently trading at US$1 207/oz.

Oil fell as disappointing US economic data pushed oil prices and US equity markets lower. Brent crude oil is currently trading at US$75,75/barrel. 

SACCI

Consumers encouraged to report stores with old gas prices

The Department of Energy is calling on consumers to report gas retailers who refuse to sell gas at capped regulation prices.
The price capping came into effect on Wednesday. While some retailers have changed their prices, others are refusing to adhere to the department’s new regulations.

The Department of Energy said on Thursday liquid petroleum gas retailers have been aware of plans to cap the price of gas since talks began in 2006.
The new regulation means LP gas like petrol, diesel and paraffin will be sold at a fixed price.
The department said gas in coastal areas may not be sold for more then R15.69 a kilogramme.
In Gauteng gas is not allowed to be sold for more than R17.27 a kilogramme.
But some retailers are refusing to adhere to the new restrictions and the department is calling on consumers to report them immediately.

People’s Republic of China 24-26 August 2010

The Department of Trade and Industry together with Business Unity South Africa (BUSA) has extended an invitation to members to participate in a business delegation to accompany President Jacob Zuma on his State visit to the People’s Republic of China: 24 – 26 August 2010.

Members who are interested in participating in the State visit are requested to complete the attached registration form and submit to the following officials:

1.  Name: Salvation Andrease (BUSA)
e-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it  
Tel:      011 784 8000

2.  Name: Mr Calvin Matlou (the dti)
e-mail: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Tel:      012 394 3744

For more information click here:

Trade Fairs and Exhibitions Abroad
Trade and Investment South Africa participate in selected trade fairs and exhibitions abroad by means of National Pavilions. Assistance is therefore provided to qualifying South African exporters to introduce South African products into foreign markets by participating in suitable foreign exhibitions in a cost effective manner. Click here  for a list of National Pavillions for 2010/2011.

Tender News

Transnet tenders click here

SARS tenders click here

General business tenders click here

SABC tenders click here

NERSA tenders click here

Treasury tenders click here

National Government tenders tenders click here

Have a wonderful week end.

Chamber Greetings,

Colleen Till