27 November 2009
	Another Week

AT HOME GDP rose 0,9% y/y in Q3, after three quarters of negative growth, suggesting the recession has bottomed. Inflation was expected to have slowed to 5,9% last month from September's 6,1%. The rand strengthens to R7,46/US$1, gold touches a new high of $1 174/oz. President Jacob Zuma launches the R200m Nsezi water treatment plant upgrade at Umhlathuze in KwaZulu Natal. Telkom reports a 37,9% drop in interim headline earnings a share to 242c in the six months to September 30. Suspended national prosecutor Vusi Pikoli drops his reinstatement battle in a R7,5m deal with the state. The OECD predicts the SA economy will grow 2,7% next year - much more than the official 1,5% forecast. Investec posts headline EPS down 13,3% to 22,2p and operating profit off 10,7% to £216m, with impairment losses up 50% to £94,3m. New Reserve Bank governor Gill Marcus signals non-intervention over the rand by saying markets should determine the exchange rate. Telkom CE Reuben September opens the group's new R350m Cyber Nest data centre in Bellville, Cape Town. Armscor suspends CE Sipho Thomo, with full pay, as he and the board fail to agree on ending his contract. Eskom delays awarding some contracts for the completion of its R120bn Kusile power plant, as it reviews its tariff application to Nersa. The flags of the 32 World Cup qualifiers are raised at a ceremony at Safa House next to Soccer City, the magnificent new premier host stadium in Johannesburg. ABROAD PEDESTRIANS pass a branch of Lloyds TSB bank, part of Lloyds Banking Group, in London, on Tuesday. Largest UK mortgage lender Lloyd s plans to raise a record £13,5bn (R167bn) in the UK's biggest rights offering, selling shares at a 59,5% discount. The US economy expands at a 2,8% annual rate in Q3. China's five largest banks submit plans to regulators for raising money after unprecedented lending eroded their capital, according to insiders. Zambia, Africa's largest copper producer, faces a power shortage and electricity rationing by end-2010 as a result of the mining sector's higher demand for power, says state utility Zesco. Philippines president Gloria Arroyo, whose six-year term ends next year, quits as head of the ruling party and urges supporters to back defence secretary Gilberto Teodoro as the candidate to succeed her. A suicide bombing at a court in Peshawar leaves 19 people dead. It is the seventh hit in two weeks, bringing to 400 the fatalities in bombings in major cities in the past month. Pakistan blames the Taliban and says the attacks are retaliation for its offensive in Waziristan. The OECD forecasts global growth of 3,45% in 2010, against this year's contraction of 1,7% this year. SPORT England beat SA (250/9) by seven wickets with four overs to spare in the second ODI. Lee Westwood wins the Dubai World Championship by six strokes. Everton midfielder Stephen Pienaar is voted Bafana Bafana player of the year, ahead of Siboniso Gaxa and Macbeth Sibaya. Fifa rejects calls for match replay after a controversial goal by France knocks Ireland out of the World Cup. India and Sri Lanka draw the first Test in Ahmedabad.