'Healthy' growth for SA's IT market

South Africa's highly matured IT services market has been growing at a healthy pace, fuelled by economic growth and national development projects, with research and advisory firm IDC expecting the market to exceed US$4-billion this year.

Non-compliant listed companies targeted

The South African government is to embark on a drive within the next few weeks to ensure that companies listed on the JSE comply fully with employment equity legislation, with the offenders being taken to the Labour Court.

Sars targets employers

The SA Revenue Service on Thursday announced details for 2008 tax season that for the first time puts specific emphasis on the central role of employers in the personal income tax system.

‘Cut residential power costs’

Residential electricity costs should be reduced not increased, said trade union Solidarity on Thursday.

SA’s 2010 windfall

The South African economy could see a turnover in excess of R40-billion during the World Cup finals which kick off at the new Soccer City in Johannesburg in June 2010.

AfDB lends Eskom $500m

Eskom - SA's power utility - in 2007 benefited from a US$500-million loan approved by the African Development Bank to beef up power supply.

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South African business update

MARKET REPORTS

Rand firm, eyes US data

The rand was firm against major currencies in noon trade on Friday while eyeing US housing and consumer confidence data due later today.

JSE at record high

The JSE jumped to record high for the second day running on Thursday amid talks that the US sub-prime crisis has subsided. A buoyant opening on Wall Street contributed to the gains.