The central bank said South Africa's net gold and foreignexchange reserves rose by 2% to USD 39.587bn at the end of November. Grossreserves were reported at USD 40.489bn in November from USD 39.788 m/m. Foreignexchange reserves were up USD 150mn at USD 32.914bn and special drawing rightsfrom the International Monetary Fund stood at USD 2.88bn. The central bankindicated it would now report its holdings of special drawing rights separatelyin the monthly release. Reuters said Reserve Bank Governor Gill Marcus saidlast month the bank would continue to build its reserves when appropriate butrepeated that it would not use this to influence the level of the randcurrency.
South African company Exxaro Resources said one of the options it currently considers is dismissing striking coal mine workers who fail to return to work in the week of March 25, fin24 reported ... more
South Africas telecommunication operator Telkom said that it has not made a decision on retrenching 13,000 employees, or more than half of its staff, TechCentral reported quoting a company ... more
Oryx Energies, a major independent provider of oil and gas products and services in Africa, has agreed to buy the South African liquefied petroleum gas (LPG) distribution businesses of BP and ... more