Iranian crude exports fall further as Trump’s sanctions loom

15 October 2018, 3:13 PM
Turkey and Italy are the last buyers of Iranian crude outside China, India and the Middle East, according to tanker data and an industry source...
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SABC has made progress in TV license collections: Board Chair 15 October 2018, 10:26 AM

Communications Minister Nomvula Mokonyane says a culture of not paying TV license fees is contributing to the SABC's financial woes.

N Cape on a drive to revitalise mining 14 October 2018, 6:26 PM

The Northern Cape says mining companies should take greater responsibility to minimise the economic effects on former mining towns.

Women miners gather in Rustenburg 14 October 2018, 3:36 PM

Over 3000 women employed in mining gathered in Rustenburg in the North West over the weekend to highlight the abuse and discomfort of working in the male dominated sector.

Part of a branch of VBS bank
100 VBS employees retrenched 14 October 2018, 11:50 AM

The office of the curator managing the affairs of VBS Bank says the final number of people who were given retrenchment notices on Friday is exactly 100, while 25 employees will remain at the bank.

A branch of VBS Mutual Bank
People implicated in VBS scandal must be held accountable: Ramaphosa 14 October 2018, 8:00 AM

President Cyril Ramaphosa has spoken out on the VBS Mutual Bank scandal saying those implicated must be held accountable.

SABC building and logo
Mwasa urges SABC to follow law over retrenchments 14 October 2018, 7:37 AM

Media Workers' Association of SA (Mwasa) says the SABC's defective section 189 notice on the Labour Relations Act, is a sign that management and the board did not follow the laws.

Moody’s delay announcing SA’s credit rating 13 October 2018, 8:26 PM

It's not clear when Moody's will publish its next review of South Africa's debt, after the ratings agency delayed its announcement, which was widely expected on Friday.

A group of workers
Monday’s plastic sector strike protected: Numsa 13 October 2018, 1:05 PM

Trade union, Numsa has reassured members who work in the plastic sector that a national strike scheduled to begin on Monday will be protected.

A photographer at work
IMF members pledge to avoid using currencies as trade weapon 13 October 2018, 10:23 AM

The International Monetary Fund said on Saturday its members pledged to refrain from competitive currency devaluations and step up dialogue on trade, as escalating trade frictions and higher borrowing costs threatened to knock global growth.

SABC to hand over retrenchment notice to unions next week 13 October 2018, 9:25 AM

Labour Union, Bemawu says SABC top executives are expected to hand over the Section 189 notice regarding retrenchments at the public broadcaster in the upcoming week.

Kenya’s KenGen says new geothermal plant nearly ready 12 October 2018, 9:09 PM

KenGen’s new 165.4-megawatt (MW) capacity plant powered by geothermal steam is three quarters complete and on schedule for commissioning next July, Kenya’s main electricity producer said on Friday.

Exxaro looks to fill Eskom coal shortage 12 October 2018, 8:40 PM

South African miner Exxaro Resources said on Friday it was looking to supply coal to state-owned power utility Eskom, which has been hit by supply shortages, posing a threat to the power supply in Africa’s most industrialised economy.

Moody's
Moody’s expected to retain rating 12 October 2018, 8:24 PM

Moody's ratings agency is not expected to downgrade South Africa's sovereign credit rating despite the economy being in recession.

US Secretary of the Treasury Steven Mnuchin
US Treasury secretary remains concerned about weak China currency 12 October 2018, 6:08 PM

US Treasury Secretary Steven Mnuchin said Friday he had told the head of China's central bank about his concerns over the weakness of China's currency.

World stock markets rebound from rout 12 October 2018, 4:56 PM

Global stock markets staged a mild rebound Friday, one day after ferocious losses sparked by heightened economic concerns...

Sassa building
Sassa strike officially over 12 October 2018, 4:45 PM

The strike by members of the National Education Health and Allied Workers’ Union (Nehawu) at the South African Social Security Agency (Sassa) is over. Nehawu, Sassa and Social Development Minister Susan Shabangu have reached an agreement to end the strike. The parties also announced this week, following a meeting, that the Biometric Enrolment of grant […]

Unions to seek clarity on SABC turnaround strategy 12 October 2018, 10:54 AM

The Broadcasting, Electronic, Media & Allied Workers Union says the notice of Section 189 of the Labour Relations Act sent to unions by the South African Broadcasting Corporation is defective.

“SABC salaries not guaranteed over next three months” 12 October 2018, 9:11 AM

The SABC says there are no any guarantees that the public broadcaster will be able to pay salaries and the thirteenth cheques over the next three months.

VBS employees face retrenchment 12 October 2018, 5:49 AM

About 100 VBS Mutual Bank employees countrywide face possible retrenchment next month.

The cover of the report into the looting of VBS bank
Hawks, NPA team up to investigate VBS Mutual Bank looting 11 October 2018, 9:49 PM

The Hawks says it has assembled a strong, well-resourced team to investigate the looting of funds from the Venda-based VBS Mutual Bank.

Markus Jooste
Steinhoff’s shares plunge after global rout, report on retailer’s ex-CEO 11 October 2018, 8:05 PM

Steinhoff’s shares fell more than 9 percent on Thursday to a near two-month low after a global market rout and a report by Bloomberg saying the retailer’s former CEO advised friends to sell the firm’s stock days before the shares collapsed.

A group of workers
Numsa gears up for national strike in plastic sector 11 October 2018, 7:20 PM

The National Union of Metalworkers of South Africa (Numsa) is gearing up for a national mega strike in the plastic sector from Monday next week.

Sanlam logo
Sanlam seals $1 billion deal for Morocco’s SAHAM 11 October 2018, 6:50 PM

South Africa’s biggest insurer Sanlam has sealed a $1.1 billion deal to acquire the remaining 53.37 percent stake in Moroccan insurance firm SAHAM Finances after receiving regulatory approvals, it said on Thursday.

Fuel pumps
Petrol price cap will negatively affect consumers: Analysts 11 October 2018, 6:35 PM

Analysts say a cap on the price of 93-unleaded petrol will ultimately have a negative impact on consumers.

A fuel pump
Govt exploring ways of capping price of unleaded petrol 11 October 2018, 3:25 PM

Government is exploring ways of capping the price of unleaded petrol, which is currently at an all-time high, with consumers feeling the brunt of the soaring costs of transport and food.

Sassa Building
Striking Nehawu workers expected to meet to map way forward 11 October 2018, 12:10 PM

Labour union Nehawu is to meet striking social security agency(SASSA) workers on Wednesday to decide the way forward following the suspension of the Biometric Enrolment for grant beneficiaries.

Hawks probe VBS Mutual Bank looting 11 October 2018, 9:00 AM

The Hawks say that a team of investigators and prosecutors are conducting an investigation into those suspected of looting billions of rands from VBS Mutual Bank.

CWU to seek clarity on SABC retrenchments 11 October 2018, 6:00 AM

The Communications Workers Union says it will use Friday's consultative meeting with SABC management to seek clarity on the retrenchments and the public broadcaster's turnaround strategy.

S Africa should seek damages from KPMG over bank graft: central bank probe 10 October 2018, 9:22 PM

South Africa should seek damages from global auditor KPMG for the role it played in a corruption scandal that saw at least 1.9 billion rand ($130 million) stolen from local bank VBS, a central bank investigation published on Wednesday said.

Angola secures $2 bln in infrastructure financing from China 10 October 2018, 8:02 PM

Angola has secured $2 billion in Chinese financing from the China Development Bank for infrastructure projects on President João Lourenço’s first visit to Beijing, Angola’s state newspaper Jornal de Angola reported on Wednesday.