Business confidence still dropping
Business confidence still dropping

Business confidence still dropping

Staff Reporter - The IJG Business Climate Monitor stood at 52.5 points in August, continuing the downward trend that started in July 2018.

“However, the decline of the IJG BCM slowed down to 0.7 points compared to July when it lost 1.2 points,” says the Institute of Public Policy Research (IPPR), compilers of the monitor.

The leading indicator, which predicts future trends, increased by 0.5 points to 41.2 points by the end of August.

“Although remaining under the 50 point mark and therefore still indicating an economic contraction, the slight upward trend, if continued, indicates that the economy is gaining some momentum again,” the IPPR says.

The 31 indicators from which the BCM is compiled sent mixed signals, the institute says.

A total 14 indicators improved, including the number of livestock marketed and cattle prices, the value of building plans completed and approved, new commercial vehicle sales, and credit extended to businesses, as well as the value of exports and imports.

In contrast, lamb prices dropped slightly, diamond production continued its downward trend and remains below the production level a year ago. Copper and gold prices slowed down, while diamond and uranium prices recovered slightly. Arrivals at the international airport were also fewer than in the previous month, but remained higher than in August 2017, IJG says.

Passenger vehicle sales dropped, as did credit extended to individuals. The number of companies registered rose sharply, but this has to be treated with some caution, since it can be almost exclusively attributed to the deadline for applications for fishing rights, according to the IPPR.

“Overall, the trend of some indicators such as the drop in commodity prices and output, rising fuel costs, inflation and the depreciation of the Namibia dollar remain of concern since they squeeze profit margins,” the IPPR concluded.

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H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSix Nations: France 13 vs 13 Italy | Scotland 30 vs 21 England | Ireland 31 vs 7 Wales Premier League: Wolverhampton Wanderers 1 vs 0 Sheffield United | Arsenal 4 vs 1 Newcastle | Bournemouth 0 vs 1 Manchester City | Brighton 1 vs 1 Everton | Crystal Palace 3 vs 0 Burnley | Aston Villa 4 vs 2 Forest | Manchester United 1 vs 2 Fulham | Chelsea 0 vs 0 Tottenham Hotspur LaLiga: Real Madrid 1 vs 0 Sevilla | Las Palmas 1 vs 1 Osasuna | Real Betis 3 vs 1 Athletic Club | Cadiz 2 vs 2 Celta Vigo | Almería 2 vs 2 Atletico Madrid | Deportivo Alaves 1 vs 1 Mallorca | Barcelona 4 vs 0 Getafe | Granada 0 vs 0 Valencia | Real Sociedad 1 vs 3 Villarreal SerieA: AC Milan 1 vs 1 Atalanta | Lecce 0 vs 4 Internazionale | Cagliari 1 vs 1 Napoli | Juventus 3 vs 2 Frosinone | Genoa 2 vs 0 Udinese | Salernitana 0 vs 2 Monza | Sassuolo 2 vs 3 Empoli | Bologna 2 vs 0 Hellas Verona European Championships Qualifying: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End English Championship: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End Katima Mulilo: 21° | 36° Rundu: 20° | 37° Eenhana: 23° | 38° Oshakati: 25° | 37° Ruacana: 21° | 38° Tsumeb: 22° | 36° Otjiwarongo: 19° | 34° Omaruru: 22° | 36° Windhoek: 20° | 33° Gobabis: 21° | 36° Henties Bay: 16° | 21° Wind speed: 19km/h, Wind direction: SW, Low tide: 10:35, High tide: 04:40, Low Tide: 22:38, High tide: 16:51 Swakopmund: 16° | 18° Wind speed: 19km/h, Wind direction: SW, Low tide: 10:33, High tide: 04:38, Low Tide: 22:36, High tide: 16:49 Walvis Bay: 16° | 23° Wind speed: 23km/h, Wind direction: SW, Low tide: 10:33, High tide: 04:37, Low Tide: 22:36, High tide: 16:48 Rehoboth: 22° | 34° Mariental: 24° | 37° Keetmanshoop: 23° | 37° Aranos: 24° | 38° Lüderitz: 15° | 27° Ariamsvlei: 20° | 37° Oranjemund: 15° | 29° Luanda: 26° | 28° Gaborone: 18° | 28° Lubumbashi: 17° | 26° Mbabane: 14° | 19° Maseru: 10° | 28° Antananarivo: 17° | 25° Lilongwe: 18° | 24° Maputo: 20° | 28° Windhoek: 20° | 33° Cape Town: 16° | 30° Durban: 17° | 23° Johannesburg: 17° | 22° Dar es Salaam: 27° | 33° Lusaka: 19° | 29° Harare: 17° | 31° Currency: GBP to NAD 24.46 | EUR to NAD 20.94 | CNY to NAD 2.68 | USD to NAD 19.3 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.35 | EGP to NAD 0.61 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.83 | ZWL to NAD 0.04 | BRL to NAD 3.85 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.33 | USD to AOA 828.51 | USD to BWP 13.81 | USD to EGP 30.85 | USD to KES 144.98 | USD to NGN 1488.4 | USD to ZAR 19.3 | USD to ZMW 23.06 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74213.39 Up +0.14% | Namibian Stock Exchange (NSX) Overall Index 1551.37 Up +0.01% | Casablanca Stock Exchange (CSE) MASI 13083.17 Up +0.74% | Egyptian Exchange (EGX) 30 Index 27840.86 Down -5.01% | Botswana Stock Exchange (BSE) DCI 9001.84 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 027.24/OZ DOWN -0.0034 | Copper US$ 3.81/lb DOWN -0.01 | Zinc US$ 2 439.40/T UP 0.7% | Brent Crude Oil US$ 82.15/BBP UP +0.81% | Platinum US$ 877.63/OZ DOWN -0.024 Sport results: H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSix Nations: France 13 vs 13 Italy | Scotland 30 vs 21 England | Ireland 31 vs 7 Wales Premier League: Wolverhampton Wanderers 1 vs 0 Sheffield United | Arsenal 4 vs 1 Newcastle | Bournemouth 0 vs 1 Manchester City | Brighton 1 vs 1 Everton | Crystal Palace 3 vs 0 Burnley | Aston Villa 4 vs 2 Forest | Manchester United 1 vs 2 Fulham | Chelsea 0 vs 0 Tottenham Hotspur LaLiga: Real Madrid 1 vs 0 Sevilla | Las Palmas 1 vs 1 Osasuna | Real Betis 3 vs 1 Athletic Club | Cadiz 2 vs 2 Celta Vigo | Almería 2 vs 2 Atletico Madrid | Deportivo Alaves 1 vs 1 Mallorca | Barcelona 4 vs 0 Getafe | Granada 0 vs 0 Valencia | Real Sociedad 1 vs 3 Villarreal SerieA: AC Milan 1 vs 1 Atalanta | Lecce 0 vs 4 Internazionale | Cagliari 1 vs 1 Napoli | Juventus 3 vs 2 Frosinone | Genoa 2 vs 0 Udinese | Salernitana 0 vs 2 Monza | Sassuolo 2 vs 3 Empoli | Bologna 2 vs 0 Hellas Verona European Championships Qualifying: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End English Championship: Watford 1 vs 2 Huddersfield Town | Ipswich Town 3 vs 1 Birmingham City | Sunderland 1 vs 2 Swansea City | Blackburn Rovers 1 vs 1 Norwich City | Southampton 1 vs 2 Millwall FC | Cardiff City 2 vs 1 Stoke City | Queens Park Rangers 2 vs 1 Rotherham United | Sheffield Wednesday 2 vs 1 Bristol City | Middlesbrough 0 vs 2 Plymouth Argyle | Hull City 1 vs 1 West Bromwich Albion | Leeds United 3 vs 1 Leicester City | Coventry City 0 vs 3 Preston North End Weather: Katima Mulilo: 21° | 36° Rundu: 20° | 37° Eenhana: 23° | 38° Oshakati: 25° | 37° Ruacana: 21° | 38° Tsumeb: 22° | 36° Otjiwarongo: 19° | 34° Omaruru: 22° | 36° Windhoek: 20° | 33° Gobabis: 21° | 36° Henties Bay: 16° | 21° Wind speed: 19km/h, Wind direction: SW, Low tide: 10:35, High tide: 04:40, Low Tide: 22:38, High tide: 16:51 Swakopmund: 16° | 18° Wind speed: 19km/h, Wind direction: SW, Low tide: 10:33, High tide: 04:38, Low Tide: 22:36, High tide: 16:49 Walvis Bay: 16° | 23° Wind speed: 23km/h, Wind direction: SW, Low tide: 10:33, High tide: 04:37, Low Tide: 22:36, High tide: 16:48 Rehoboth: 22° | 34° Mariental: 24° | 37° Keetmanshoop: 23° | 37° Aranos: 24° | 38° Lüderitz: 15° | 27° Ariamsvlei: 20° | 37° Oranjemund: 15° | 29° Luanda: 26° | 28° Gaborone: 18° | 28° Lubumbashi: 17° | 26° Mbabane: 14° | 19° Maseru: 10° | 28° Antananarivo: 17° | 25° Lilongwe: 18° | 24° Maputo: 20° | 28° Windhoek: 20° | 33° Cape Town: 16° | 30° Durban: 17° | 23° Johannesburg: 17° | 22° Dar es Salaam: 27° | 33° Lusaka: 19° | 29° Harare: 17° | 31° Economic Indicators: Currency: GBP to NAD 24.46 | EUR to NAD 20.94 | CNY to NAD 2.68 | USD to NAD 19.3 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.35 | EGP to NAD 0.61 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.83 | ZWL to NAD 0.04 | BRL to NAD 3.85 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 134.33 | USD to AOA 828.51 | USD to BWP 13.81 | USD to EGP 30.85 | USD to KES 144.98 | USD to NGN 1488.4 | USD to ZAR 19.3 | USD to ZMW 23.06 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 74213.39 Up +0.14% | Namibian Stock Exchange (NSX) Overall Index 1551.37 Up +0.01% | Casablanca Stock Exchange (CSE) MASI 13083.17 Up +0.74% | Egyptian Exchange (EGX) 30 Index 27840.86 Down -5.01% | Botswana Stock Exchange (BSE) DCI 9001.84 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 027.24/OZ DOWN -0.0034 | Copper US$ 3.81/lb DOWN -0.01 | Zinc US$ 2 439.40/T UP 0.7% | Brent Crude Oil US$ 82.15/BBP UP +0.81% | Platinum US$ 877.63/OZ DOWN -0.024