Author: David Morrison
US markets tumbled on Wednesday as investor anxiety spiked over the nation’s growing budget deficit. The Dow lost 1.9%, while the S&P 500 slid 1.6%, marking a broad retreat across major indices. President Trump’s push to pass a substantial new budget bill by the weekend added to the pressure, with concerns mounting that the fiscal plan could significantly widen the deficit. The sharp move lower served as a stark reminder of how quickly sentiment can shift when financial risks return to the spotlight. Asian markets slip across the board Asian Pacific stock indices ended Thursday’s session broadly lower, dragged down…
Finance Minister Enoch Godongwana is set to present South Africa’s 2025 budget for an unprecedented third time on Wednesday, May 21st. This marks a significant and historically unique event for the nation, as political parties and the Government of National Unity (GNU) opposed previous attempts to finalise the budget. The primary point of contention – a proposed Value-Added Tax (VAT) increase – was withdrawn following intense political and legal pressure. Scrapping the VAT increase, though politically convenient, has left an estimated R75 billion revenue shortfall over the medium term. This substantial fiscal gap necessitates challenging decisions regarding how to balance…
US-South Africa relations have hit a serious low because of disagreements over ideas, differences in foreign policies, and President Donald Trump’s controversial actions. Issues like conflicts over Israel and Palestine, accusations of racial persecution, and shifting political alliances have all contributed to the tension. This analysis looks at the political situation ahead of President Cyril Ramaphosa’s upcoming meeting with Trump in Washington. The economic impact is also significant, with potential risks to trade deals and currency stability making the situation more unstable. The Ramaphosa and Trump meeting is a high-stakes diplomatic moment The upcoming meeting between Presidents Cyril Ramaphosa and…