DA expects SABC loan guarantee in budget speech

17 February 2019, 6:21 AM
The DA says it expects Finance Minister Tito Mboweni to announce a loan guarantee for the South African Broadcasting Corporation (SABC) in his budget speech on Wednesday.
Finance Minister Tito Mboweni.
Mine worker
Eskom proposed price hike will adversely affect mining sector 16 February 2019, 4:04 PM

Four in ten mining companies could shut down if Eskom's demand for a 15% tariff hike is met, that's according to the Minerals Council South Africa.

Men shaking heads
Global stocks surge on hopeful signs from US-China trade talks 16 February 2019, 11:47 AM

European and US stock markets leapt on Friday as positive signs emerged from US-China trade talks aimed at averting an escalation of a tariff war between the world's top two economies.

Uber mobile app.
Uber posts $50 billion in annual bookings as profit remains elusive 16 February 2019, 10:39 AM

Uber Technologies Inc had $50 billion in total bookings for its ride-service and food-delivery businesses last year, a testament to the size and global reach of the company as it prepares to woo investors in one of the biggest public stock listings to date.

Isuzu Motors SA celebrates milestone since taking over GM 15 February 2019, 9:18 PM

Isuzu Motors South Africa has just celebrated its first year as a fully fledged local vehicle manufacturer after taking over the operations of General Motors.

Tough budget speech ahead for Mboweni with growth-enhancing reforms 15 February 2019, 8:55 PM

Finanance Minister, Tito Mboweni, is expected to present a budget with growth enhancing reforms when he delivers his budget speech next week.

Minister Gwede Mantashe
Minister Mantashe visits Gloria Coal Mine 15 February 2019, 3:03 PM

Mineral Resources Minister Gwede Mantashe has raised concern about the lack of security at the Gloria Coal Mine in Middelburg in Mpumalanga which he feels led to the illegal miners gaining entry to the facility and becoming trapped.

Wim Vanhelleputte (C) giving an interview to journalists
MTN Uganda CEO deported over national security 15 February 2019, 10:30 AM

The chief executive officer of telecoms group MTN Uganda, a unit of South Africa’s MTN Group, has been deported from the East African country over national security concerns, Ugandan police said on Friday.

Miners in a mine shaft
Sibanye-Stillwater to cut over 6000 jobs 15 February 2019, 8:19 AM

Sibanye-Stillwater announced that over 6000 jobs are at risk of being cut at two of its gold mines - Shafts, in Beatrix in the Free State and Driefontein, west of Johannesburg.

President Cyril Ramaphosa
‘Mboweni will announce measures to assist Eskom’ 15 February 2019, 7:30 AM

President Cyril Ramaphosa says Finance Minister Tito Mboweni will announce government measures to assist Eskom to stabilise its finances.

Inside the American Stock Exchange
S&P 500 slips as grim retail sales data overshadows trade hopes 15 February 2019, 7:13 AM

The S&P 500 and the Dow slipped while the Nasdaq posted a slim gain on Thursday as investors struggled to square grim retail sales data with hopes that high-level talks in Beijing could resolve the ongoing US-China trade dispute.

E Cape municipalities at loggerheads over commercial farms 14 February 2019, 9:09 PM

Two district municipalities in the Eastern Cape, OR Tambo and Alfred Nzo, are at loggerheads over seven commercial farms worth more than R59 million bought near Kokstad.

Unbundling of Eskom not a path to privatisation: Ramaphosa 14 February 2019, 7:21 PM

President Cyril Ramaphosa has reiterated that the unbundling of Eskom is not the path to privatisation.

SABC launches its first economics current affairs show 14 February 2019, 5:54 PM

The South African Broadcasting Corporation (SABC) has launched its first business current affairs programme which is set to air weekly on DStv channel 404.

Ramaphosa announces special committee to oversee Eskom operations 14 February 2019, 4:42 PM

President Cyril Ramaphosa has announced the formation of a special committee to oversee operations at Eskom. As the country endures a fifth consecutive day of power outages, the President says the committee will provide daily reports to him.

Eskom loadshedding.
Eskom implements stage 2 loadshedding 14 February 2019, 12:13 PM

Eskom says it will implement stage 2 loadshedding on Thursday until 22:00. The power utility has implemented loadshedding for four days already.

Gloria coal mine.
Preparations begin for Gloria mine recovery mission 14 February 2019, 9:06 AM

Preparations have begun for the recovery mission of the 22 people trapped underground at the Gloria coal mine in Middleburg, Mpumalanga.

Ramaphosa to announce more plans on Eskom crisis 14 February 2019, 7:54 AM

President Cyril Ramaphosa is expected to announce more plans on how to solve Eskom's power crisis on Thursday. This after Minister of Public Enterprises, Pravin Gordhan, told Parliament that the power utility needed a cash injection by April in order to survive.

Mining companies feel the pinch of loadshedding 13 February 2019, 8:24 PM

The Minerals Council of South Africa says the ongoing loadshedding is likely to affect production in the ailing mining sector. The council says the power outages have put mines under increasing pressure to stay afloat, following months of production decline and dropping commodity prices.

Carlos Ghosn
Renault set to strip Ghosn of millions in pay 13 February 2019, 4:07 PM

Renault's board of directors is, on Wednesday, expected to deny stock options and other compensation to former CEO Carlos Ghosn worth nearly 10 million euros, sources with knowledge of the matter told AFP.

Heineken sales see fast growth 13 February 2019, 12:12 PM

Despite a fall in overall profits the world's second largest brewer recorded growing sales in major markets last year, although it warned that 2019 could be "volatile".

Mnuchin hopes for ‘productive’ trade meetings in China 13 February 2019, 9:36 AM

US Treasury Secretary Steven Mnuchin said on Wednesday he hopes for "productive" trade meetings in China this week, as the two countries seek to hammer out an agreement amid a festering dispute that has seen both level tariffs at each other.

Cosatu strike, loadshedding to impact negatively on gold mining sector 13 February 2019, 7:55 AM

Economist Henk Lagenhoven says mining companies will be faced with two major obstacles on Wednesday - Eskom's Stage3 load shedding and the Congress of South African Trade Unions (Cosatu) nationwide strike against job losses.

Eskom loadshedding.
Eskom to resume Stage 3 loadshedding 13 February 2019, 6:28 AM

Eskom says it will resume Stage -3 loadshedding starting from 8:00 to 23: 00 on Wednesday.

COSATU strike
Cosatu nationwide strike to commence on Wednesday 13 February 2019, 5:50 AM

Congress of South African Trade Unions (COSATU) has called on all workers in the country to join its national strike on Wednesday.

6.1 million people without jobs in SA- Stats SA 12 February 2019, 4:31 PM

South Africa's unemployment remains one of the highest in the world despite some improvement in the fourth quarter of 2018.

Business struggle with ongoing loadshedding 12 February 2019, 3:07 PM

Eskom's heavy loadshedding is having a devastating effect on small businesses across the country with many saying they are being forced to curtail production.

Mcebisi Jonas
Govt needs new ways to grow economy, create jobs: Jonas 12 February 2019, 2:26 PM

Presidential Envoy, Mcebisi Jonas says government will have to manage its finances and debts very well in the next few years if the country wants to avoid further downgrade and IMF bail outs.

Light bulb
Economists extremely worried about Eskom’s load shedding 12 February 2019, 12:39 PM

Economists say they remain extremely worried about the recent rotational load shedding announced by Eskom.

President Ramaphosa expecting detailed report on Eskom crisis 12 February 2019, 6:55 AM

President Cyril Ramaphosa is expecting a detailed report from Public Enterprises Minister Pravin Gordhan about the Eskom crisis when he returns home from the African Union Summit in Ethiopia.

Unemployment rate expected to improve: Economists 11 February 2019, 9:52 PM

The rate of unemployment is expected to have improved slightly in the fourth quarter on the back of seasonal hiring. Jobs data will be released on Tuesday.