ECONOMIC EVENTS Africa Energy Indaba meeting in Cape Town
COMPANIES Royal Bafokeng Platinum releases full-year results
SOUTH AFRICAN MARKETS South Africa's rand extended its losses against the U.S. dollar on Tuesday after new data showed the economy contracted more than expected in the last quarter of 2022. GLOBAL MARKETS Asian shares fell sharply on Wednesday, while the dollar advanced after hawkish comments from Federal Reserve Chair Jerome Powell raised the possibility of the U.S. central bank returning to large rate hikes to tackle sticky inflation. WALL STREET U.S. stock indexes closed sharply lower on Tuesday after Federal Reserve Chair Jerome Powell told Congress the central bank will likely need to raise interest rates more than previously expected as it seeks to rein in stubbornly high inflation. GOLD Gold prices slipped to a one-week low on Wednesday after U.S. Federal Reserve Chair Jerome Powell said interest rates might need to go higher than previously expected to curb inflationary pressures. EMERGING MARKETS For the top emerging markets news, double click on - - - -
Some of the main stories out in the South African press:
BUSINESS DAY
- PetroSA doubles revenue on diesel sales
FIN 24
- Govt's road and rail plan has failed – so it plans to do
the exact same thing for the next 5 years
(Compiled by Nellie Peyton)
