The dollar index was flat after data showed U.S. retail sales increased more than expected in July, while the yuan sank to a nine-month trough on Tuesday after China’s central bank unexpectedly cut key policy rates.

The pound dipped against the dollar though it firmed against the euro on Monday as markets continued to digest the previous week’s 25-basis-point rate increase by the Bank of England.

The dollar was on the defensive on Monday after a mixed U.S. jobs report provided little directional conviction and as market focus turned to inflation data from the world’s two largest economies due this week.

South Africa-born Elon Musk continues to extend his lead over France’s LVMH chairperson Bernard Arnault in the world’s richest person list.

The 2023 tax season started on 7 July 2023, and the deadline to file your tax return is October 23 2023 for individual taxpayers. If you’re unsure how to submit your tax return, or you’re worried you might owe the South African Revenue Service (SARS) money, think again. ALSO READ: Low on cash? THESE are the 10 cheapest […]

Reuters: The South African rand tumbled over 1% on Tuesday, extending Monday’s losses as global risk-off sentiment increased. At 0905 GMT, the rand traded at 18.0325 against the dollar, about 0.85% weaker than its previous close. SOUTH AFRICAN RAND TUMBLED It had weakened to as much as 18.0884 earlier in the day. The dollar last […]

The 2023 tax season started on 7 July 2023, and the deadline to submit your tax return is October 23 2023 for individual taxpayers. If you’re unsure how to submit your tax return, or you’ve been reluctant to submit it because you’re worried you might owe the South African Revenue Service (SARS) money, think again. ALSO […]

Reuters: Sterling traded higher against the U.S. dollar on Tuesday, staging a small rebound after a seven-day losing streak, but stayed close to a two-week low as traders keep their attention on Britain’s floundering economy. BRITISH POUND STERLING TRADED HIGHER At 1023 GMT, the pound was 0.16% up against the dollar at $1.28460 , while […]

The 2023 filing season has been in full swing since July 7 and runs till 23 October 2023 for individual taxpayers. Tax-free savings accounts are the easiest and most effective way to reduce your tax contribution when filing season rolls around. Here’s everything you need to know to get cash bank every year … TAX-FREE SAVINGS ACCOUNTS Reduce your annual tax contribution with tax-free […]

The South African Social Security Agency(SASSA) released all the payment dates for the 2023/24 financial year. Beneficiaries are reminded that grants do not need to be withdrawn on the day they are paid out nor will the beneficiaries forfeit their money if it is not taken out. SASSA. SASSA GRANT PAYOUT DATES Beneficiaries can withdraw […]

Reuters: The South African rand dropped on Thursday afternoon after the central bank held its key interest rate at 8.25% following 10 consecutive rate hikes since 2021, as expected by a majority of economists polled by Reuters. SOUTH AFRICAN RAND DROPS At 1323 GMT, the rand traded at 17.915 against the U.S. dollar, around 0.25% […]

South African Reserve Bank’s (SARB’s) Monetary Policy Committee voted to keep the interest rates at their current levels on Thursday. MUST READ | What are the EIGHT SASSA payment grants South Africans can apply for? This means the repurchase rate stays at 8.25% and the prime lending rate at 11.75% – and offers some temporary relief for South Africans, especially […]

SARS eFiling season – the time to complete a tax return – opened on 7 July 2023. It runs until October 23 2023 for individual taxpayers. ALSO READ: Here’s the REAL reason why your tax refund isn’t bigger In SARS’ list of guidelines for 2023, it says anyone earning less than R500 000 per year does not […]

Reuters: The dollar wobbled near an over one-year low against its major peers on Tuesday, as investors awaited fresh catalysts to gauge if the greenback has further downside in the wake of last week’s cooler-than-expected U.S. inflation report. READ MORE: Lebanon central bank governor’s properties seized U.S. DOLLAR WOBBLED NEAR A NEW LOW The U.S. […]

Money makes money and these 10 people have made a lot of it over the years. And by a lot, we mean a LOT! The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. South African-born Elon Musk is the new richest person in the world, having recently surpassed France’s Bernard Arnault. They are followed by United States’ Jeff […]

Tax season 2023 starts this evening (Friday July 7) at 20h00. Individual taxpayers have until October 23 2023 to submit their income tax return (ITR12). Provisional taxpayers have until January 24 2024. TAX SEASON 2023 First things first, SARS insists you must check if you have been auto assessed before attempting to file your tax return. The revenue […]

Money makes money and these three South Africans have made a lot of it over the years. And by a lot, we mean a LOT! The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. The figures are updated at the close of every trading day in New York. In terms of the overall world list, South […]

Reuters: The pound fell against the dollar on Monday as the U.S. currency rebounded from a tumble late the previous week, while traders continued to grapple with what expectations of several more Bank of England rate hikes mean for the British currency. BRITISH POUND FELL AGAINST THE DOLLAR Sterling was last down 0.18% at $1.2669, […]

Reuters: The South African rand weakened around 1% against a stronger dollar on Thursday after the release of the central bank’s quarterly bulletin and producer price index data. SOUTH AFRICAN RAND WEAKENED At 1447 GMT, the rand traded at 18.8350 against the dollar, 0.92% weaker than its previous close. The dollar last traded at 103.17, […]

The tariff hike will introduce another new level of hardship to some property owners but there is something to smile about if you fall under a particular bracket. TARIFF ADJUSTMENT ANNOUNCED IN JOBURG METRO Yesterday, Wednesday, 28 June, City of Joburg MMC for Finance, Councillor Dada Morero, announced that the City will implement new tariffs for key services. […]

Reuters: The dollar index rose on Wednesday following comments from a host of global central bank leaders, including Federal Reserve Chair Jerome Powell, who did not rule out the possibility of another rate hike by the Fed at its next meeting in July. U.S. DOLLAR INDEX ROSE Powell, speaking at a European Central Bank conference […]

The South African rand weakened against 18 of the top 19 currencies we monitor. A degree of ZAR profit-taking activity, coupled with a fresh wave of risk-off sentiment brought a stop to the recent Rand rally. Last week, the global market focus was fixed on the testimony by the US Fed Chair, Jerome Powell. He […]

Reuters: The South African rand gained on Tuesday as analysts speculated the weekend’s aborted mutiny in Russia may mean President Vladimir Putin could skip BRICS summit where South Africa would in theory be obliged to arrest him. SOUTH AFRICAN RAND GAINED The BRICS group of emerging economies, comprising Brazil, Russia, India, China and South Africa, […]

Reuters: The South African rand gained 1% on Monday, as investors watched for potential ripple effects of the aborted weekend mutiny in Russia. SOUTH AFRICAN RAND GAINED At 1210 GMT, the rand traded at 18.6000 against the dollar, around 0.84% stronger than its previous close after strengthening over 1% earlier. The dollar was last trading […]

2023 tax season is very nearly upon us and one of the ways it will be made “easier than ever before,” according to tax authorities, is the 2023 SARS auto assessment. Only certain taxpayers will be illegible for this and if you are one of them, you will receive a notification via SMS or email between Friday […]