{"id":128686,"date":"2016-07-01T08:23:57","date_gmt":"2016-07-01T06:23:57","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=128686"},"modified":"2016-07-01T08:23:57","modified_gmt":"2016-07-01T06:23:57","slug":"5-things-you-need-to-know-in-south-africa-today-4","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/128686\/5-things-you-need-to-know-in-south-africa-today-4\/","title":{"rendered":"5 things you need to know in South Africa today"},"content":{"rendered":"<p>Here&#8217;s what is happening in the country and the markets:<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.bloomberg.com\/news\/articles\/2016-06-30\/south-africa-s-cosatu-says-keeping-zuma-avoids-anc-bleeding\">President Jacob Zuma will likely stay to the end of his term, Cosatu says, because the last time the ANC fired a president early &#8211; Thabo Mbeki in 2008 &#8211; the party suffered<\/a><\/strong>. The workers union said that it supports the ANC&#8217;s campaign, but it said it wants the party to move more swiftly and decisively to stop things like violent protests from happening.<\/li>\n<\/ul>\n<ul>\n<li>The Strategic Fuel Fund, which last month sold off South Africa&#8217;s oil reserves without permission from Treasury, has now<strong><a href=\"http:\/\/www.bdlive.co.za\/business\/energy\/2016\/07\/01\/now-fuel-fund-ignores-its-own-minister\"> slipped past its own department &#8211; the department of energy &#8211; to acquire Chevron&#8217;s assets<\/a><\/strong>. According to the department, it was not consulted, making the bid illegal.<\/li>\n<\/ul>\n<ul>\n<li>South Africa&#8217;s rand reversed earlier losses against the dollar, gaining as much as 1 percent after trade data showed the widest trade surplus since 2010.\u00a0Stocks ended a volatile quarter with modest gains. <strong><a href=\"http:\/\/www.xe.com\/currencycharts\/?from=USD&amp;to=ZAR\">On Friday the rand was trading at R14.76 to the dollar, R19.63 to the pound and R16.37 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>In global news:\u00a0<strong><a href=\"http:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL8N19N0JH?sp=true\">Asian stocks rose on Friday as risk appetite continued to recover from last week&#8217;s Brexit shock<\/a><\/strong>, but the pound came under renewed pressure after the Bank of England&#8217;s governor hinted at an interest rate cut ahead.\u00a0Wall Street rolled to a third straight day of gains on Thursday as Britain&#8217;s central bank raised the prospect of stimulus.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.reuters.com\/article\/us-global-oil-idUSKCN0ZH3FL\">Oil prices rose early on Friday, with Brent jumping back\u00a0above $50 per barrel, as investors positioned themselves for\u00a0more price increases this year<\/a><\/strong> in expectation of a tighter\u00a0market.\u00a0International Brent crude oil futures were trading at $50.04 per barrel, up 33 cents, while U.S. West Texas Intermediate (WTI) crude was up 28 cents at $48.61 a barrel.<\/li>\n<\/ul>\n<p><strong>In other news<\/strong>: Motorists should prepare for a petrol price hike in July, with the latest CEF data showing that <strong><a href=\"http:\/\/www.cefgroup.co.za\/wp-content\/uploads\/2013\/10\/Daily-30-06-2016.pdf\">petrol should be increasing by 8-11 cents per litre, while the wholesale price of diesel should be going up by 42 cents<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s what is happening in and affecting South Africa today (1 July 2016)<\/p>\n","protected":false},"author":10,"featured_media":6423,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-128686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-finance","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/128686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=128686"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/128686\/revisions"}],"predecessor-version":[{"id":128698,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/128686\/revisions\/128698"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/6423"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=128686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=128686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=128686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}