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Morning Market Scoop 19 October 2018

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Barry Dumas
Moring-market-scoop

 

Options for BREXIT and SA Government efforts

The BREXIT negotiations have hit yet another snag as the European Union (EU) and Britain have given themselves a couple of weeks to break the deadlock in their Brexit negotiations.

Ebrahim Patel, the minister of Economic Development has acknowledged that government could of step up its efforts to aid the South African economy over the last couple of years.

I'm Barry "The Beef Dumas" and this is your morning market scoop!

Going local this morning with some Jeremy Loops:

 

 

 

Brexit-Morning-Market-Scoop-GT247

 

Should I stay or should I go?

What’s the scoop? The latest on BREXIT

The BREXIT negotiations have hit yet another snag as the European Union (EU) and Britain have given themselves a couple of weeks to break the deadlock in their Brexit negotiations.

  • It is speculated that the deadlock is mainly due to Prime Minister Theresa May satisfying critics and party leaders back in London. The date set for Britain to leave the European Union is 29 March 2019.

The big picture The EU have given Brittan a couple of offers on a BREXIT deal and according to the EU it is just a matter of picking one. All the governments have insisted that they want a deal in the coming weeks, so disruptions can be avoided when Britain leaves the European Union in March 2019.

  • May is reported that she expects the implementation period to only end at the end of 2020. Extending the transition could help solve the Irish border issue, May stated.

What does all this mean for me?

  • If you are not a citizen of Britain, then the move out of the EU will not materially affect your life.

South-Africa-Requires-investment

 

Cry me a river! No Really!

What’s the scoop? Government efforts

Ebrahim Patel, the minister of Economic Development has acknowledged that government could of step up its efforts to aid the South African economy over the last couple of years.

  • The statements made alongside president Rhamaphosa was an update briefing before next week’s investors summit in JHB. According to Patel, communicating with investors and addressing their concerns about the stability of the economy could have been done more effectively.

The South African government is still on the lookout for possible investment into SA of about R100 billion over the next five years.

The big picture  economic and employment data paint a bleak picture of South Africa’s economic stability. Entering a technical recession, SA lost 69 000 jobs in the second quarter of the year. It is going to be a mammoth task to attract investors with these figures.

What does all this mean for me?

  • If government continues to tiptoe around and not address major issues like corruption within the government for a start, I don’t see that acquiring the R100 billion over 5 years will be easy.

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