Creepy crawlies present economic opportunity

21 August 2019, 5:51 PM
Innovative entrepreneur Robert Matsabisa saw a gap in the market by farming cockroaches and worms at Wells Estate in Port Elizabeth in the Eastern Cape.
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Robert Matsabisa
MTN
MTN feeling the pressure, despite 10% growth 8 August 2019, 5:44 PM

MTN says the current poor economic activity in South Africa has put pressure on its financial performance.

Latest mining and manufacturing production numbers worse than expected 8 August 2019, 3:50 PM

Statistics South Africa says manufacturing production decreased by 3.2% in June compared to the same time last year.

SASBO accuses banks of failing to allow CCMA to mediate 8 August 2019, 12:01 PM

The South African Society of Bank Officials has accused major banks of failing to allow a facilitator from the CCMA to mediate following consultations on retrenchments.

Lesetja Kganyago
Kganyago vows to protect Reserve bank’s independence 8 August 2019, 9:00 AM

The SARB Governor Lesetja Kganyago says he will fight to protect the central bank’s independence if it is jeopardised by plans to bring it into public ownership.

Brian Molefe
ConCourt orders Molefe to pay back pension fund 8 August 2019, 5:49 AM

It has emerged that former Eskom CEO Brian Molefe will have to pay court costs as well as the R10 million in pension fund monies he received from the power utility.

Rand weakens by more than 3% to US dollar 7 August 2019, 7:43 PM

The rand has weakened by around 3.3% to the US dollar in August alone on the back of escalating trade tensions between the US and China.

South Africans need to plan towards a comfortable retirement: GCI 7 August 2019, 5:05 PM

South Africans need to have a proper financial plan that will help them retire comfortably.

Solidarity wants Molefe to pay back the money 7 August 2019, 3:33 PM

Trade union Solidarity says it will make sure that former Eskom CEO Brian Molefe pays back the 10 million rand in pension pay out money that he received.

Business Confidence Index declines by 1.3 index points: Sacci 7 August 2019, 2:48 PM

South Africa continues to struggle with depressed business confidence levels.

Peter Moyo
Moyo still not allowed to resume his duties as Old Mutual CEO 7 August 2019, 11:39 AM

Peter Moyo has not been allowed to resume his duties as Old Mutual CEO after the company applied for leave to appeal last week's court ruling.

Wholesale, retail workers to receive pay increase 7 August 2019, 5:51 AM

Workers in the wholesale and retail sector have been given a 4.5% salary increase backdated to August 2.

Containers are seen at the Yangshan Deep Water Port in Shanghai, China
UN members sign mediation convention to settle trade disputes 7 August 2019, 5:40 AM

The UN Convention on International Settlement Agreements Resulting from Mediation, its official title, was signed in Singapore by 46 UN members, including the United States and China.

Eskom urgently needs turnaround plan: Moody’s 6 August 2019, 9:44 PM

South Africa's state power utility Eskom urgently needs a turnaround plan as its capital structure is unsustainable, credit ratings agency Moody's said on Tuesday in a report which sent the rand to a two-month low.

Financial sector’s reform still to be implemented: Report 6 August 2019, 9:29 PM

Several elements of the financial sector reform process must still be implemented.

Motorists set to pay more for fuel 6 August 2019, 8:10 PM

Motorists will have to fork out 11 cents more for a litre of petrol from midnight Tuesday. 

Eskom
Eskom not aware of employees planned strike 6 August 2019, 4:43 PM

Eskom says it has not received any notices of a planned strike by employees. This after reports surfaced on Monday suggesting that South Africa could be plunged into darkness once again due to a possible strike.

R100 notes
Rand steady against the dollar 6 August 2019, 12:35 PM

The rand is trading at R14.82 to the dollar, R18.08 to pound sterling and R16.60 to the euro.

Luxury department store Barneys files for bankruptcy protection 6 August 2019, 9:02 AM

United States luxury department store chain, Barneys New York Inc, filed for Chapter 11 bankruptcy on Tuesday and put itself up for sale after facing soaring rents and failing in its earlier attempts to find a buyer for the cash-strapped retailer.

R100 notes
South Africa’s rand hits 7-week low as trade tensions heat up 6 August 2019, 5:42 AM

South Africa’s rand slipped to seven-week lows against the dollar on Monday, as prospects of a sharp escalation in the U.S.-China trade war turned investors risk-averse.

Jeff Bezos, founder of Amazon and Blue Origin speaks during the JFK Space Summit, celebrating the 50th anniversary of the moon landing.
Jeff Bezos sells Amazon stock worth $2.8 billion last week 6 August 2019, 5:42 AM

Amazon.com Inc Chief Executive Officer Jeff Bezos offloaded $990 million worth of shares in the company last week.

China lets yuan weaken and stops buying U.S. crops, escalating trade war 5 August 2019, 8:36 PM

China let the yuan weaken past the key 7-per-dollar level on Monday for the first time in more than a decade and later said it would stop buying US agricultural products, inflaming a worsening trade war with the United States.

Cosatu wants amendment to Labour Relations Act to prevent retrenchment 5 August 2019, 5:03 PM

The Congress of South African Trade Unions (Cosatu) says they are concerned that if urgent action is not taken, unemployment in the country will continue to escalate

Pretoria street strike
Tshwane strike costs the City hundreds of millions 5 August 2019, 3:01 PM

The City of Tshwane says it has incurred an estimated R500 million loss in costs due to last week's unprotected strike by its employees.

Molefe waiting for smear campaign to discredit anti-corruption drive at Transnet 5 August 2019, 9:31 AM

The chairperson of Transnet Dr. Popo Molefe says he's waiting for those who have embarked on a smear campaign to discredit the on-going anti-corruption drive at the state-owned enterprise to put what they've been saying to the test.

Cosatu calls for amendment of Labour Relations Act 5 August 2019, 9:04 AM

Congress of South African Trade Unions’ first deputy president Mike Shingange says they are concerned that if urgent action is not taken, unemployment in the country will continue to escalate.

An oil pump is seen at sunset outside Scheibenhard, near Strasbourg.
Oil prices drop as US-China trade war fuels growth concerns 5 August 2019, 7:20 AM

Asian equity markets dropped to a six-month low on Monday while gold prices climbed as investors sought safe-haven assets.

Asia stocks hit six-month lows, bonds boom amid market shakeout 5 August 2019, 6:01 AM

Asian shares slid to 6-1/2-month lows on Monday and the yuan slumped to a more than decade trough as a rapid escalation in the Sino-US trade war sent investors stampeding to traditional safe harbors including the yen, bonds and gold.

R100 notes
Nzimande calls for an end to the ‘investment strike’ 4 August 2019, 4:20 PM

SACP General Secretary Blade Nzimande says they reject the notion that the economy has been suffering since President Cyril Ramaphosa took the reigns.

Disney report to shine spotlight on streaming war 4 August 2019, 8:36 AM

Quarterly reports next week from Walt Disney Co, CBS and Viacom will likely highlight increasing competition in video streaming and could spark volatility in the so-called communication services sector, which has outperformed since it was overhauled last year.

Cannabis plant
E.Cape govt wants an advisory committee on the commercialisation of cannabis 3 August 2019, 3:05 PM

The Eastern Cape government wants President Cyril Ramaphosa to establish an advisory committee to look into the possible commercialisation of the cannabis industry.