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23 March 2012 23:11

Business news headlines: Ryk van Niekerk – Moneyweb

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    Sanral challenge, Standard Bank fees, labour broker regulations and market indicators

    RYK VAN NIEKERK: Good evening and welcome from me, Ryk van Niekerk. We are live here from the SABC studio in Auckland Park and not from Melrose Arch as usual. There seems to be a massive communication breakdown in the Melrose Arch area, and we have relocated at high speed to the SABC studio here. Hopefully that is the end of the technical problem. I saw on Twitter that the problem seemed to spread, and there may even be some problems in the Pretoria area.
        In the studio with me is Magnus Heystek from Brenthurst Wealth. He drove here as well at great speed. Welcome to the studio. Magnus.

    MAGNUS HEYSTEK: Good afternoon Ryk. I didn’t drive here – I flew here!

    RYK VAN NIEKERK: Hopefully this is not a Telkom problem and hopefully it can be resolved quite quickly.
        I'll speak later to Magnus about the JSE this week. It had a bit of a quite week, it slid by 2%.
        We are also going to talk to a new group, the Opposition to Urban Tolling Alliance, which has lodged an urgent interdict against Sanral to delay the implementation of the Gauteng Freeway Tolling Project. I will speak to Moneyweb journalist Christy Filen about that urgent interdict.
        Standard Bank has also cut the charges of some of its banking products by up to 50%, and there seems to be a war brewing in the banking industry. I speak to Sanlam analyst Patrice Rassou about this imminent war.
        And Labour Minister Mildred Oliphant has announced new labour regulations governing labour brokers, and I speak to labour consultant Andrew Levy about these regulations and the implications for for the business sector.
        Before I speak to Magnus, just a quick look at the markets.
        The JSE ended flat at  33 572 points. The financial index was slightly stronger at 9 305, the industrial index was down nearly 0.4% at 31 209 points, while the gold index had a good day, up 1.3% to 2 465.
       One the currency market, the rand/dollar exchange rate was R7.71/dollar, R12.21/pound and R10.23/euro.
        The price of Brent oil is $125.92, the price of gold and the price of platinum were up by 1.5%. Gold was at $1 663/oz and platinum at $1 631.

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