For the fifth month ina row, South African retail sales rose more than expected in May, leavinganalysts divided on a forthcoming interest rate decision. Statistics SouthAfrica reported retail sales rose 4.6% in May y/y, accelerating from a downwardlyrevised 2.9% growth in April and outpacing forecasts for a 3.7% rise. Thecountrys Monetary Policy Committee meets on July 22 to decide on interestrates. One analyst was reported saying the current low interest rateenvironment and the slowly improving levels of consumer confidence were havinga positive influence on the consumption recovery but said the situation was notstrong enough to suggest a rates cut.Consumer spending has been seen lagging the broader economic recovery ashouseholds' indebtedness remains close to record highs and last yearsrecession caused the loss of a million jobs, it was reported.
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