Monetary policy was still far too tight despite the interest rate cut of 1.5 percentage points last month, according to a survey of local fund managers released yesterday by Merrill Lynch.

The benefits of lower interest rates will be felt mainly by appliance and clothing retailers.

The Cape industrial property market has improved significantly since the beginning of the year, with a large take up of existing properties across all areas.

Profit before tax and items up 40%.

CAPE TOWN The developer of a R90m residential and retail complex in Cape Town's Green Point faces a major headache following the discovery of an informal graveyard in which the bodies of hundreds of slaves were buried about 300 years ago.

South Africa's Bureau for Economic Research (BER) has revised downward its forecast for real economic growth for the country in 2003 to 2.2% y/y from 2.6% previously, due to the stronger-than-expected slowdown experienced over the first half of the year.

UK property group Liberty International, which has a dual listing in South Africa, says its financial position remains "extremely sound" with shareholders' funds of 2.7 billion sterling and a debt to assets ratio unchanged at 40%.

Cape Town - The integration of Cape of Good Hope Bank, BoE, Nedcor Investment Bank and Nedbank Property Finance's property lending activities had progressed well and the new entity already dominated the Western Cape property finance market.

MEMBERS of the elite Inanda Club in northern Johannesburg are divided over the fate of the stately old clubhouse, should a deal go through with hotel and casino magnate Sol Kerzner's One&Only luxury resort group, which wants to build a country house-style hotel in the grounds.

One&Only plans to build low-rise hotel on elite grounds.