{"id":133212,"date":"2016-08-15T07:35:09","date_gmt":"2016-08-15T05:35:09","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=133212"},"modified":"2016-08-15T07:59:28","modified_gmt":"2016-08-15T05:59:28","slug":"5-things-you-need-to-know-in-south-africa-today-21","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/133212\/5-things-you-need-to-know-in-south-africa-today-21\/","title":{"rendered":"5 things you need to know in South Africa today"},"content":{"rendered":"<p>Here&#8217;s what is happening in and affecting South Africa today:<\/p>\n<ul>\n<li><strong><a href=\"http:\/\/www.bdlive.co.za\/national\/2016\/08\/15\/zuma-is-not-the-issue-says-anc\">The ANC&#8217;s top six have closed ranks around president Jacob Zuma, saying they will share responsibility for the party&#8217;s poor performance in the latest elections<\/a><\/strong>, and that Zuma&#8217;s leadership did not come up at the 4-day meeting held over the past weekend. ANC secretary general Gwede Mantashe said that there was no proposal for Zuma to step down.<\/li>\n<\/ul>\n<ul>\n<li>Auditing firm KPMG has rubbished reports that South Africa has regained the crown as Africa&#8217;s biggest economy. Earlier in August Bloomberg reported that SA had won back the top spot when looking at GDP values in dollar terms, after Nigeria&#8217;s naira had lost significant ground &#8211; <strong><a href=\"http:\/\/www.cnbcafrica.com\/news\/financial\/2016\/08\/12\/kpmg-questions-africa-gdp-rankings\/\">however, KPMG said the method used to reach that conclusion is simply incorrect<\/a><\/strong>.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/www.reuters.com\/article\/us-safrica-economy-poll-idUSKCN10N0PR\">South Africa&#8217;s Reserve Bank is expected to raise interest rates in November, despite much weaker economic growth<\/a><\/strong>.\u00a0With inflation at 6.3 percent, and not expected to ease off any time soon, economists expect\u00a0SARB to deliver a 25 basis-point hike to 7.25 percent in November. On Monday the rand was at R13.46 to the dollar, R17.41 to the pound and R15.02 to the euro.<\/li>\n<\/ul>\n<ul>\n<li>In global news:\u00a0<strong><a href=\"http:\/\/www.reuters.com\/article\/us-global-markets-idUSKCN10Q024\">Asian shares inched back from one-year peaks on Monday as a rally in Chinese stocks helped offset news of Japan&#8217;s economic growth slowing<\/a><\/strong> to a halt last quarter.\u00a0The need for further policy action in Japan was underlined by the subdued economic reading, leaving the Nikkei .N225 dithering either side of flat.<\/li>\n<\/ul>\n<ul>\n<li>Oil prices edged higher after boasting gains of 6 percent last week as Saudi Arabia&#8217;s oil minister held out the chance of action to help stabilize the market.\u00a0<strong><a href=\"http:\/\/www.reuters.com\/article\/us-global-markets-idUSKCN10Q024\">Brent crude futures were up 31 cents on Monday at $47.28 a barrel, while U.S. crude added 35 cents to $44.84<\/a><\/strong>.<\/li>\n<\/ul>\n<p><strong>In other news<\/strong>: <strong><a href=\"https:\/\/www.enca.com\/sport\/wayde-van-niekerk-wins-gold-sets-world-record\">South African athlete\u00a0Wayde van Niekerk has scored the country&#8217;s first gold medal the the 2016 Rio Olympics<\/a><\/strong>, with a world record breaking run of 43.03 seconds in the 400 metre event. He beat\u00a0American Michael Johnson\u2019s 1999 mark of 43.18 seconds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ANC executives have rallied around Zuma; South Africa may not have overtaken Nigeria after all; and Van Niekerk is bringing gold home from Rio 2016 &#8211; here&#8217;s what is happening in and affecting South Africa today (15 August 2016)<\/p>\n","protected":false},"author":10,"featured_media":106747,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872,11121],"tags":[26],"class_list":["post-133212","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\/133212","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=133212"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/133212\/revisions"}],"predecessor-version":[{"id":133220,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/133212\/revisions\/133220"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/106747"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=133212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=133212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=133212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}