American Chamber of Commerce

07 May 2009 11:01:21 PM Last update: 06/05/2009

Rate as at 10:44 PM, 07/05/09 » USA $1 : R8.41252

Welcome to the American Chamber of Commerce in South Africa (AmCham)

AmCham is affiliated to the US Chamber of Commerce, the world's largest business federation which represents nearly 3 million businesses of every size and which is based in Washington DC.

AmCham was founded in 1977 as a non-profit association and operates without financial assistance from government. We promote and advance the interests and views of US business in South Africa.

Through AmCham, business people of the United States and South Africa are able to come together and promote their mutual interests.

South African News

JSE closes down on profit-taking: Johannesburg, May 7 (I-Net Bridge) The JSE closed down by just over a percent on Thursday, giving back earlier gains on profit-taking and on the back of a slightly stronger rand. At its close, the JSE all share index had shed 1.12%, with gold mining stocks losing 1.99% and. . . .
Transnet warns of higher pipeline tariffs: South African state transport utility Transnet on Thursday warned that the National Energy Regulator of South Africa's (Nersa's) decision not to grant it the 74.42% pipeline tariff increase it had requested would result in even higher tariff increases in future. . . . .
Afrox to cut costs, reduce jobs by up to 15%: Africa’s biggest gas and welding firm, African Oxygen Limited, plans to cut 200 million rand in costs and reduce its workforce by up to 15% in the third quarter. The company said on Thursday costs would be cut by dropping minimally profitable or slow-moving product. . . .
Absa announces pricing review: Absa is to introduce an average 5% price increase for retail banking customers who opt to do transactions the traditional way, effective from June 1 2009. The pricing is based on an outcome of Absa's 2009 market review, which considers market dynamics, operating. . . .
ECB cuts key interest rate to new record low: FRANKFURT, May 7 (Reuters) — The European Central Bank cut its benchmark interest rate by 25 basis points to a new record low of 1,0% on Thursday, as expected. But the ECB kept its overnight deposit rate, which is acting as a floor for money markets, at 0,25%, narrowing. . . .