Investec News

Investec Corporate and Institutional Banking (“ICIB”) in partnership with Vuselela Energy, announces the launch of South Africa’s first co-generation power plant using an Ormat Organic Rankine Cycle (ORC) system. More

Dublin, Tuesday, May 14, 2013. Effective today, NCB has been renamed as Investec, following the acquisition of NCB by the Investec Group in 2012. The rebrand comes less than one year after the deal, which was one of the largest financial services inward investments in recent years. More

Are the cheapest mortgages the best value? Why the best value mortgage may not appear on a best-buy table and what factors borrowers may wish to consider when choosing a lender. More

Policy steady, no surprises. The UK’s Monetary Policy Committee (MPC) opted to keep policy steady at today’s meeting in line with the consensus and our own expectations. More

The retail sales release for March is the main data item in South Africa in the week ahead. We expect a further acceleration in sales growth, to 5.0% y/y from 3.8% y/y in February. More

In March, manufacturing production contracted at a rate of 2.2% y/y following a drop of 2.8% y/y in February (revised from -2.9% y/y previously).The outcome for March diverged from market expectations of positive growth of 1.8% y/y. More

In April, gross reserves increased slightly, to USD50.31bn from USD50.01bn in March, which contrasted with market expectations of a drop to USD49.80bn. Net reserves decreased to USD45.83bn from a prior USD46.08bn, with the outcome virtually in line with market consensus of USD45.89bn. More

The ECB’s Governing Council (GC) opted to reduce its main refinancing rate at today’s meeting, taking it down from 0.75% to 0.5%, a new record low. That move was in line with the consensus with around two-thirds of those polled expecting the change today. More

Veteran golfer James Kingston turned around his recent poor run of form in the best way possible, by winning his sponsor’s event at the Royal Swazi Sun Country Club on Saturday afternoon. More

On Monday, the unemployment statistics will be released but prospects for the first quarter of 2013 are likely to remain dull, with little change expected from the 25% unemployment rate outcome of Q4.12. More