SA Reserve Bank signals cut, Comair's CEO end"s tenure on high note

[Click here for the web version of this email]( [FIRST THING With John Stupart]( Friday, 24 May 2019 "The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency." Bill Gates Story of the Day [SA Reserve Bank signals a cut on the horizon]( By Ed Stoddard The South African Reserve Bank kept the repo rate, the main lending rate, on hold as expected at 6.75% on Thursday. Two out of five members of the Monetary Policy Committee voted for a cut, and the statement signalled the next move will likely be downward. This is largely because the deplorable state of the economy has put a lid on any demand pressures that could reignite inflation. ON THE MONEY Currencies R/$ = 14.47 +0.03%▲ R/€ = 16.19 -0.05%▼ R/£ = 18.34 +0.16%▲ R/BTC = 120499 -0.17%▼ * At +- 5am / % open to close Markets JSE All Share = 54271 -1.74▼ DJIA = 25490 -1.11▼ Brent Crude = $68,24 +0.81%▲ Gold = $1285 -0.01%▼ WHILE YOU WERE SLEEPING [Erik Venter leaves Comair on a high note]( Comair has enjoyed an unbroken record of profit since its inception 73 years ago. The JSE-listed company, which operates low-cost brand kulula.com and British Airways under licence, has also consistently rewarded shareholders with dividends. The shocking resignation of its long-time CEO has left analysts wondering who can fill his big shoes. [US charges Assange with new counts of espionage violations]( WikiLeaks founder Julian Assange was indicted on additional charges unsealed on Thursday accusing him of violating the Espionage Act by engaging in a wide-ranging effort to obtain classified information about the Iraq and Afghanistan wars and other matters. [Global bond rally drives Treasury Yields to lowest since 2017]( The US-China trade conflict and cracks in the global economy are herding investors to the safest parts of financial markets, pushing yields to multi-year lows and strengthening bets that the Federal Reserve will cut interest rates in 2019. [This week in the world economy and what it means]( The escalating trade war between the US and China drew fresh headlines this week as economists start to hit the panic alarm over what it may mean for the global economy. Here’s our weekly review of the world economy and the lessons learned. Daily Maverick is on a mission to help Rebuild South Africa through quality independent and investigative journalism. [Join our community]( by becoming a Maverick Insider and help be part of the solution. In Numbers 20% That is the interest rate in both Ukraine and Uzbekistan, the highest in the world. It is followed by Argentina at 17.45%. The rest of the top five list include Mongolia: 15.10% Azerbaijan 15.00% and Iran: 15.00%, In SA, you won’t get as rich by parking your money in a savings account, but in these countries, however, your cash could make a nice chunk of change. If you’re thinking about relocating, consider a country where you can earn substantial interest, but make sure to factor in how inflation affects rates. Fact of the Day The world annually observes Africa Day on 25 May, acknowledging the solidarity among African countries. Africa Day was established in 1963, commemorating the formation of the African Union that acknowledges our rich African heritage in the fight against colonialism and apartheid. This significant day gives citizens the opportunity to recommit to government interventions to develop a unified vision and strengthened collaboration. Apart from 25 May, the entire month has been set out to observe the significance of the continent. Featured Articles [They Killed Dulcie — Episode 7: Impunity?]( [They Killed Dulcie — Episode 7: Impunity?]( By Sound Africa and Open Secrets [Everyone’s equal before the law, even Zuma – NPA]( [Everyone’s equal before the law, even Zuma – NPA]( By Greg Nicolson [Cannabis: The miracle herb? (Video)]( [Cannabis: The miracle herb? (Video)]( By Street Talk Opinionistas [Making arts and theatre accessible to the masses, not just the elites]( A column by Mike van Graan [Why MEC Panyaza Lesufi must be commended]( A column by Modibe Modiba [Philanthropy in the spotlight]( A column by Shelagh Gastrow Weather BFN: min: 6° max: 22°, sunny CPT: min: 12° max: 20°, cloudy DBN: min: 17° max: 24°, cloudy EL: min: 14° max: 23°, cloudy JHB: min: 8° max: 19°, sunny MHK: min: 9° max: 23°, sunny NLP: min: 11° max: 24°, cloudy PE: min: 11° max: 19°, cloudy PMB: min: 9° max: 26°, cloudy [FORWARD THIS EMAIL TO A FRIEND]( [Fb] [Tweet] [Link] [Yt] Copyright © 2019 Daily Maverick, All rights reserved. You are receiving this mail because you are awesome and on the Daily Maverick First Thing subscriber list. Interested in advertising with us? [Click here to sign the pact.]( [Getting too many emails from us? Manage your preferences]( [Unsubscribe](