Industry among bright spots, as economy mends - The Zimbabwe Mail thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
MONEYWEB
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âI’d still be buying British American Tobacco rather than Reinetâ, says Nesan Nair from Sasfin. 09:45
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SIMON BROWN: I’m chatting now with Nesan Nair, who is of course from Sasfin. Nesan, I appreciate the early morning time. Coronationâs results came out yesterday. In many senses, Coronation has been doing what it should be doing. We’ve seen decent markets. Theyâve got their revenue up nicely, earnings up 44%, paying a strong dividend as they normally do â most of those earnings go out as dividends â and making good performance fees.
NESAN NAIR: Yes, Simon, good morning. One hundred percent right. That’s what they should be doing. When the markets go up, Coronation Fund Managers, whose revenue is basically tied to the level of the market, should also go up. Of course, profits go up a little bit more than the market goes up because there’s that what we call the operational leverage effect that revenue
Identifying progress in the Zimbabwean economy thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
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Treasury is reducing its weekly auction of government bonds for the second time since the end of March.
Government debt has ballooned during the pandemic.
But thanks to stronger-than-expected tax collection, government does not have to borrow as much as expected.
For the second time in more than a month, the South African government cut the size of its bonds on auction.
This is thanks to better-than-expected tax income, which means it doesn’t have to rely as much on new debt as was previously expected.
On Monday, National Treasury announced that it will reduce its weekly auction of fixed-rate government bonds by R900 million – from R4.8 billion to R3.9 billion, starting from next week. It will continue to auction R1.2 billion in inflation-linked bonds.
University of Cape Town: Magda Wierzycka kicks off full InvestSoc programme indiaeducationdiary.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiaeducationdiary.in Daily Mail and Mail on Sunday newspapers.