{"id":129574,"date":"2016-07-08T08:50:07","date_gmt":"2016-07-08T06:50:07","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=129574"},"modified":"2016-07-08T08:50:07","modified_gmt":"2016-07-08T06:50:07","slug":"5-important-things-you-need-to-know-in-south-africa-today","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/129574\/5-important-things-you-need-to-know-in-south-africa-today\/","title":{"rendered":"5 important things you need to know in South Africa today"},"content":{"rendered":"<p>Here is what&#8217;s happening in South Africa and the markets:<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.iol.co.za\/news\/special-features\/zuma-is-going-to-jail-says-malema-2042909\">EFF leader Julius Malema has vowed that president Jacob Zuma will go to jail, and that his party will take Nkandla back<\/a><\/strong>. He was speaking at a rally ahead of the 2016 elections. Malema said that his words should not be doubted &#8211; he had previously promised that Zuma would pay back the money for Nkandla, and that the Guptas would leave,\u00a0both of which happened.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.iol.co.za\/business\/news\/treasury-keeps-positive-growth-outlook-2043109\">As the IMF cuts South Africa&#8217;s growth outlook to only 0.1%, Treasury says that it is more optimistic about the country&#8217;s economy<\/a><\/strong>. The body has kept its growth forecast at 0.9% for 2016,\u00a0expecting growth and employment to be supported by several structural reforms and targeted government interventions. SARB, meanwhile, said the country&#8217;s GDP contraction of 1.2% in Q1 was a low point, with an upward trend expected.<\/li>\n<\/ul>\n<ul>\n<li>South Africa&#8217;s rand relinquished earlier gains\u00a0against the dollar on Thursday after the International\u00a0Monetary Fund cut the 2016 domestic growth forecast to\u00a0barely above zero percent. Stocks rose, however, led by\u00a0financial services. <strong><a href=\"http:\/\/www.xe.com\/currencycharts\/?from=USD&amp;to=ZAR\">On Friday the rand was trading at R14.70 to the dollar, R19.03 to the pound and R16.29 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li>In global news:\u00a0A<strong><a href=\"http:\/\/af.reuters.com\/article\/southAfricaNews\/idAFL8N19U08P\">sian stocks looked set to post their biggest weekly loss in\u00a0three weeks on Friday<\/a><\/strong> and government bond yields plunged to\u00a0fresh record lows as investors awaited U.S. jobs data to get\u00a0a clearer picture of the health of the world&#8217;s biggest\u00a0economy.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.reuters.com\/article\/us-global-oil-idUSKCN0ZO02C\">Oil prices rebounded on Friday, bouncing off\u00a0two-month lows hit in the previous session <\/a><\/strong>when prices fell\u00a05 percent on news that the U.S. weekly crude draw missed\u00a0some forecasts.\u00a0Brent crude futures were trading at $46.92 per barrel on Friday, up 52 cents from their last settlement. U.S. crude was up 43 cents, or 0.95 percent, at $45.57 a barrel.<\/li>\n<\/ul>\n<p><strong>In other news:<\/strong>\u00a0<strong><a href=\"http:\/\/ewn.co.za\/2016\/07\/08\/Outa-vows-to-show-evidence-of-corruption-at-SAA\">Civil group, Outa says that it will provide evidence of corruption at South African Airways. <\/a><\/strong>It said it would publish evidence of deceit and manipulation related to the contract in which SAA appointed a largely unknown financier, which scored R256 million from the state-owned company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here&#8217;s what is happening in and affecting South Africa today (8 July 2016).<\/p>\n","protected":false},"author":10,"featured_media":49482,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-129574","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\/129574","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=129574"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/129574\/revisions"}],"predecessor-version":[{"id":129576,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/129574\/revisions\/129576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/49482"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=129574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=129574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=129574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}