The International Monetary Fund (IMF) has downscaled its forecast for our country’s economy for this year to only 1,4%, down from 2%.
The GDP is expected to only grow by 1,3% next year, forecasts the IMF, the slowest rate of growth since the last recession in 2009. China’s economic slowdown is largely to blame, with metal imports reducing due to that country’s ‘slump‘. Mining jobs are in Continue reading →
Tourism, Food, and Wine news headlines
* The South African Reserve Bank announced today that it will increase the interest rate by 0,25 %!
* The Table Mountain Aerial Cableway will close for its annual maintenance on Monday 27 July until 9 August. Maintenance work will be undertaken, and the cable car cabins will be upgraded too. The maintenance work is overseen by Swiss engineers, to meet the global cableway safety standards of the Swiss Governing Body for Cableways.
* Uber is looking at introducing UberPool, allowing the sharing of Continue reading →
Tourism, Food, and Wine news headlines
* The Reserve Bank has left the Repo rate unchanged, but has warned that the inflationary pressure from petrol price increases and a weak Rand could influence the rate in future.
* The City of Cape Town is setting up a company to manage the Cape Town Stadium, an asset which is costing the City and its ratepayers large sums of money due to losses made, at about R36 million a year! The establishment of the company is to be approved at the Mayoral Committee meeting today, which will then create a business hub around Continue reading →
Tourism, Food, and Wine news headlines
* The Reserve Bank has left the interest rate unchanged, the repo rate remaining at 5,75 %.
* The retail trade experienced a ‘fair to middling‘ Festive Season trade, and the projection is that 2015 will be much the same. Stores targeting the lower income group were impacted by low demand, caused by unemployment and debt. Woolworths sales growth was lower in the past six months than in the same period a year prior.
* The International Gay and Lesbian Travel Association has become an ‘association partner‘ for World Travel Market Continue reading →