Beijing to suspend domestic, overseas Chinese group tours: state media
World
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Rand rises as demand for riskier assets picks up
The rand firmed more than 1% on Wednesday, helped by a recovery in demand for riskier assets, while Dutch-based technology group Prosus led stocks lower.
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Power cuts cost South Africa up to $8.3bn in 2019, research shows
The power cuts are one of the biggest challenges facing President Cyril Ramaphosa as he tries to revive investor confidence in Africa’s most industrialised economy.
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Godongwana: Consolidation of SOEs key to ensuring SA's economic growth
The ANC’s NEC said the consolidation of state-owned enterprises was imperative to ensure growth and avoid a possible downgrade by ratings agency.
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AgriSA: Davos investors concerned about Land Bank ratings downgrade
AgriSA executive director Omri van Zyl said that while the impact would be felt in about 6 months, the reality was that institutional lenders would believe the bank was more risky.
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Eskom appoints critic Sikonathi Mantshantsha as new spokesperson
Mantshantsha replaced Khulu Phasiwe who resigned in April last year from the embattled power utility.
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Magashule: SOEs must be restructured to avoid govt bailouts
The ANC secretary-general said that Eskom and South African Airways were important government entities that were essential to the country’s economy.
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Telkom to begin consultations with unions over job cuts
The telecommunications company, which has over R11 billion worth of debt, announced it would be cutting thousands of jobs due to a weak economic environment and a rapid change in technology.
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SAA has become a burden to taxpayers, says Scopa's Hlengwa
Parliament’s finance watchdog the Standing Committee on Public Accounts (Scopa) said that the country’s state-owned enterprises would be the committee’s first order of business when MPs return from the festive break.
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Kganyago: Financial sector must be prepared for climate change-related problems
Reserve Governor Lesetja Kganyago is among global leaders in Davos at the World Economic Forum, which would discuss global warming and climate change as talking points.
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Unions 'worried' about job cuts at SAA if R2bn bailout not received
The national carrier announced on Tuesday it had cancelled some domestic and international flights due to low demand and to save money.
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Weak growth outlook keeps rand on back foot
The currency has weakened more than 3% versus the greenback since the start of the year.
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Transnet: Correct processes followed for new group CEO appointment
Transnet disputed claims of disagreements between its board and Gordhan over a suitable candidate to head the company.
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Mantashe appoints new Necsa board
This comes a week after the previous board members all handed in their resignations, claiming a lack of support from government and political interference.
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SAA: Further review of flight changes on the cards
The embattled airline announced on Tuesday it had cancelled some domestic and international flights due to low demand.
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SAA turns to Mango to help stranded passengers after cancelling flights
The national carrier earlier announced it's decision to cancel some domestic and international flights due to low demand and to save money.
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SAA cancels 'a few domestic flights'
SAA is running short of cash after the government failed to provide R2 billion of emergency funding it promised when the airline entered a form of bankruptcy protection last month.
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IMF trims global growth estimates 2020-21 but sees improving outlook
In the latest update to its World Economic Outlook, the IMF cut the global growth estimate for 2020 to 3.3%, 0.1 percentage point lower than in the prior report released in October.
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SA chrome firms warn of more than 1,200 job cuts
Joint venture partners Glencore and Merafe Resources could cut up to 665 jobs and have started consultations with workers at their Rustenburg ferrochrome smelter.
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Rand falls on domestic woes as stock rally ends
The currency has weakened 3.5% since the beginning of the year, as the country grapples with nationwide power cuts that have dented economic output and sapped investor confidence.
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IMF lowers growth forecasts for SA economy
There is general consensus that nationwide power cuts have dented economic output and sapped investor confidence in the economy.
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Apple's Cook says global corporate tax system must be overhauled
'I would certainly be the last person to say that the current system or the past system was the perfect system.'
