Business
Mboweni to table emergency Budget on 24 June
The impact of the COVID-19 pandemic and efforts to deal with it means that the Budget that Finance Minister Tito Mboweni tabled in February has to be...
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Labour Court rules in Numsa’s favour over Macsteel strike
Numsa members were on strike at the steel company since May, accusing management of reducing workers’ salaries by 20% without consulting them.
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Acsa needs over R11 billion to survive – Mbalula
The minister said Acsa and some major South African airlines could not be allowed to fail because they played a crucial role in the country’s economy.
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Eskom’s unbundling process complex and sensitive, says Gordhan
Public Enterprises Minister Pravin Gordhan and Eskom CEO Andre de Ruyter on Wednesday told Parliament that while progress was made, the unbundling process was complex, and that caution was needed.
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Eskom may miss unbundling target date - CEO
Eskom CEO Andre de Ruyter said the first phase to divide the huge business into three subsidiaries operating under Eskom Holdings had progressed well but there were legal processes outside its control.
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Rand climbs to 11-week peak, markets rally
The stock market mirrored the upbeat sentiment of the currency to scale a 13-week peak on Wednesday.
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Acsa needs over R11bn to recover from lockdown - Mbalula
Transport Minister Fikile Mbalula said government was discussing how to assist Acsa and struggling airlines.
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Airlink, Flysafair to resume local flights from this month
Airlink has started taking bookings on its website for flights from next week Monday while Flysafair is taking bookings for flights resuming on 15 June.
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Rand strengthens to 11-week high versus dollar
At 0640 GMT, the rand traded at 17.0880 per dollar, 0.49% firmer than its previous close, and at its strongest levels since 19 March.
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Lufthansa reports net loss of 2.1 bn euros in first quarter
'Global air traffic has come to a virtual standstill in recent months. This has impacted our quarterly results to an unprecedented extent,' board chairman Carsten Spohr said in a statement.
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Banks charged for manipulating exchange rate to file responses
The Competition Commission said on Tuesday that it had expanded its case to target other additional lenders, including some of the country’s biggest banks.
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Rand, stocks jump as lockdowns eased
The currency ended May on the front foot, buoyed by the South African central bank’s support for the economy, including a fourth lending rate cut in as many months and a bond-buying programme that has eased liquidity strains.
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NCOP ratifies Division of Revenue Bill paving way for revised budget
The Division of Revenue Bill shares revenue between national, provincial and local government.
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Competition Commission files new charges against banks over rand manipulation
The new referral also expands the scope of the prosecution to include five more banks, including the Nedbank Group, Rand Merchant Bank and Standard Americas.
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Comair unlikely to restart operations before November
The airline requires a substantial cash injection.
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KZN govt allocates R70m to King Zwelithini, COVID-19 fight boosted by R1.5bn
KwaZulu-Natal Premier Sihle Zikalala said that the funds given to Zulu King Goodwill Zwelithini would be used to fund the monarch's traditional and cultural events as well as ensure the maintenance of royal palaces.
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UIF paid out R1bn in COVID-19 relief funds to over 250k workers - Nxesi
The minister said the UIF was working around the clock to ensure that the outstanding payments were processed as soon as possible.
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Agri SA urges private sector to help amid Land Bank’s financial troubles
In April, Treasury told Parliament that its inability to give the Land Bank R20 billion it had asked for was not a sign of government’s lack of commitment to the state-owned bank.
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Hospital operator Mediclinic sees full-year loss widen
The company reported a net loss of 315 million pounds ($394 million) for fiscal year 2019/2020 as compared with 151 million pound loss in 2018/19.
