{"id":5848,"date":"2017-06-22T14:16:15","date_gmt":"2017-06-22T14:16:15","guid":{"rendered":"http:\/\/dynasty.co.za\/?p=5848"},"modified":"2021-06-22T08:49:21","modified_gmt":"2021-06-22T08:49:21","slug":"20-june-2017","status":"publish","type":"post","link":"https:\/\/www.dynasty.co.za\/staging\/20-june-2017\/","title":{"rendered":"News Flash"},"content":{"rendered":"<p>A week of turmoil in South Africa, the Public Protector recommended that the government changes the South African Reserve Bank\u2019s constitutional mandate. Markets tumbled and the rand lost +-1.6% against the dollar.<\/p>\n<p><!--more--><\/p>\n<h2><strong>Global News<\/strong><\/h2>\n<ul>\n<li>In the US, the Fed increased interest rates from 1% to 1.25%.<\/li>\n<li>US inflation came in lower than expected at 1.9% year-on-year in May.<\/li>\n<li>The Nasdaq closed 0.9% down following a global sell-off of technology shares.<\/li>\n<li>UK inflation for May was 2.9% year-on-year \u2013 the highest level in four years.<\/li>\n<li>The Bank of Japan kept interest rates on hold at -0.1%<\/li>\n<li>Gold fell 1.03% over the week.<\/li>\n<\/ul>\n<h2><strong>Local News<\/strong><\/h2>\n<ul>\n<li>Business confidence in South Africa has fallen to its lowest levels since the 2009 global financial crisis, per data from the Bureau of Economic Research (BER).<\/li>\n<li>The JSE All Share Index (ALSI) dropped 2.63% over the week. ALSI has lost more than 7% since the beginning of June. The JSE Industrial 25 and the JSE Resource 10 indices declined 3.16% and 4.7% respectively.<\/li>\n<li>The JSE banking index was down 0.33% for the week and 2.85% for the month-to-date.<\/li>\n<li>The Public Protector targeted the South African Reserve Bank\u2019s constitutional mandate in a report about a 1990s bailout for Bankorp\u201a which was later bought by Absa.<\/li>\n<li>Last week, Mineral Resource Minister, Mosebenzi Zwane, published a new empowerment charter for mining without support from the Chamber of Mines.<\/li>\n<li>Mining Shares were punished as a result \u2013 last week Anglo American fell by -8.2%, Anglogold, -11.3%, Kumba -8.5% and Assore -10.3%.<\/li>\n<li>South Africa is the only country out of 41 monitored by the OECD (the Organisation of Economic Cooperation and Development) to currently be in recession.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h5><em>Source: Dynasty, Stanlib, Efficient Select, Prescient, Moneyweb,\u00a0and Bloomberg Markets etc<\/em><\/h5>\n","protected":false},"excerpt":{"rendered":"<p>A week of turmoil in South Africa, the Public Protector recommended that the government changes the South African Reserve Bank\u2019s constitutional mandate. Markets tumbled and the rand lost +-1.6% against the dollar.<\/p>\n","protected":false},"author":2,"featured_media":5849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsflash","category-3","description-off"],"_links":{"self":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/posts\/5848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/comments?post=5848"}],"version-history":[{"count":0,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/posts\/5848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/media\/5849"}],"wp:attachment":[{"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/media?parent=5848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/categories?post=5848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dynasty.co.za\/staging\/wp-json\/wp\/v2\/tags?post=5848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}