Top 5 on Fin24: Ramaphosa invokes his inner Mandela, the EU fined Google billion and the IPC rises to 4.6%

Cape Town – A tour of the horizon of the main economic and financial readings of Wednesday on Fin24

Ramaphosa invokes his inner mandela – for political purposes

Emotions and tributes aside, the centennial The birth of Nelson Mandela also announces changes in the situation for both the ANC and the DA

The fact of seeing Barack Obama with President Cyril Ramaphosa during meetings and on stage reinforces the sense of legitimacy and respectability of the South African President. After the Zuma era

Importantly, Ramaphosa attempts to piece together a "Mandela-esque" identification in the hope that he can restore lost support and political credibility to his presidency in the early difficult days of his mandate. office, written Daniel Silke.

The EU has terminated Google's billion on Android – sources

The EU is about to 'get it'. US internet fine giant Google has announced several billion euros this week to freeze the rivals of its Android mobile phone system, according to a source that risks new tensions with Washington

Commissioner Margrethe Vestager should say Wednesday that Google abused its dominant position in the market by making reconciliations with phone makers like Samsung in South Korea and Huawei in China

REVEALED: Plans to expand VBS if the "looting" does not was not exposed

VBS Mutual Bank needed to expand further to become a commercial bank and several new branches would have opened in the country if the organization's leaders were able to dissolve make allegations of intense looting.

Two bank executives in 2017 also wanted to induce state entities to deposit money. It was hoped that VBS's "proven growth record" would attract them in this direction.

Rising fuel prices contributes to June CPI surge climbs to 4.6%

SA's Consumer Price Index (CPI) According to official statistics released on Wednesday , transportation costs were one of the key drivers of fuel price increases, which rose from 4.4% in June to 4.4% in June

. increase to 4.8%.

Fuel prices have risen steadily since April due to the combination of rising world oil prices, rising fuel taxes and the weakening of the rand. This has prompted the government to study strategies to protect consumers from impact.

Big Mac Index: Rand to be traded at R5.63 / $

The South African rand is undervalued against the dollar by 57.9%, suggests the latest Big Mac Index, published annually by Economist .

First produced in 1986 "as a light guide to find out if the currencies are at their" correct "level, the index uses the purchasing power parity – or the notion that & # 039; In the long term, exchange rates should move towards a rate that would equalize the prices of identical goods and services in two countries – to evaluate the relative value of currencies.

The resulting system, or "burgernomics", has has been updated regularly since

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