Edcon refutes closing down claims

16 December 2018, 6:14 PM
Retail giant, Edcon, says reports that its stores are about to close are not true, but admits that the company has been experiencing financial difficulties for several years.
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Edgars store front
Mining sector needs to empower its workers: Mining Indaba 16 November 2017, 2:32 PM

The mining sector needs to empower its workers while also taking part in transforming the economy.

Gauteng Health, Education Departments allocated biggest chunk of budget 16 November 2017, 1:55 PM

The Gauteng Health and Education Departments have been allocated the biggest chunk of the budget during Finance MEC Barbara Creecy's tabling of the Mid-Term Budget in the provincial legislature.

Tooley to make budget adjustments 16 November 2017, 9:47 AM

Limpopo's Treasury MEC, Rob Tooley will on Thursday present the mid-term budget at the Lebowakgomo legislature.

Change in leadership affects SAA decision-making processes 16 November 2017, 7:25 AM

The changes in leadership at the National Treasury are impacting negatively on some key decision-making. The Treasury’s Deputy Director General, Ismail Momoniat, has revealed this in Parliament. He was briefing the Standing Committee on Appropriations on debt relief and recapitalisation of SAA and the Post Office. Momoniat was asked why the Treasury failed to act […]

Trans Hex closes Baken mine in Richtersveld, citing unprofitability 15 November 2017, 9:00 PM

The biggest employer at Sanddrift in the Richtersveld, on the border between South Africa and Namibia, has closed shop.

Businesses on high alert after political instability in Zimbabwe 15 November 2017, 8:40 PM

South African businesses operating in Zimbabwe are on high alert as political instability in that country continues.

Wage gap between highest and lowest narrows in SA 14 November 2017, 5:36 PM

The wage gap between the highest and lowest earners in South Africa is narrowing.

Ithala Bank partners with Tyre manufacturer to equip young people 14 November 2017, 5:04 PM

Ithala Bank and a major tyre manufacturer have officially launched a programme to equip and economically empower young people from the townships and rural communities.

I had doubts about Eskom position: Qoma 14 November 2017, 12:24 PM

Eskom board spokesperson Khulani Qoma has told the Parliamentary inquiry into the power utility that he was there when Public Enterprises Minister Lynne Brown appointed Matshela Koko as acting CEO.

BLSA laments resignation of Treasury’s head Michael Sachs 14 November 2017, 10:11 AM

Business Leadership South Africa (BLSA) has lamented the resignation of the head of National Treasury’s budget office, deputy director-general Michael Sachs, saying that it was of “enormous concern”.

UCT SRC slams Fees Commission recommendations 14 November 2017, 8:52 AM

The SRC at the University of Cape Town has reiterated that the Fees Commission Report inhibits the poor from accessing tertiary education. President Jacob Zuma released the report on Monday. It recommends that students be funded through a cost-sharing model of government guaranteed loans from commercial banks. Outgoing SRC President, Sepati Tshabalala says, “The issue […]

Harmony Gold looks to court to stop illegal strike 14 November 2017, 7:46 AM

Harmony Gold mine says it will approach the Labour Court in Johannesburg to seek an urgent interdict to get striking workers at the Kusasalethu mine, near Carltonville west of Johannesburg to return to work.

Vodacom sees 4.3mln subscriber growth 14 November 2017, 5:52 AM

Vodacom says it has added 4.3 million new subscribers for the six months ending September 30, 2017 taking the network to 40-million subscribers.

Lonmin project on verge of collapsing 13 November 2017, 5:50 PM

R1,6 billion in mining contracts, awarded by the world's third largest platinum producer, Lonmin to the Bapo Ba Mogale community near Brits in the North West, are at risk of total collapse.

Vodacom records revenue growth 13 November 2017, 3:45 PM

Vodacom says it will fully comply with the competition commission’s investigation into compliance on the national treasury's transversal contract for mobile communications services.

Sachs will speak about his reasons when he is ready: Tshwete 13 November 2017, 3:18 PM

Finance ministry spokesperson, Mayiholme Tshwete says Michael Sachs has expressed an interest to move to other areas of government to continue serving the public in a different role.

Rand loses 1% against US dollar 13 November 2017, 2:29 PM

The rand has lost more than 1% on Monday morning against the US dollar following unconfirmed media reports of the resignation of budget office head, Michael Sachs.

Philiso’s bonus payment shocks Bemawu 13 November 2017, 10:44 AM

Trade union Bemawu has expressed shock at a bonus payment awarded to SABC acting group CEO Nomsa Philiso.

Presidency rejects rumours of free education announcement 13 November 2017, 6:40 AM

The Presidency says President Jacob Zuma has no plans to announce a programme for free higher education until he reviews the report of a commission studying the feasibility of such a programme.

Mbete to speed up processes to deal with taxi industry challenges 10 November 2017, 7:59 PM

National Assembly Speaker, Baleka Mbete, says she will speed up processes in Parliament which deal with problems facing the taxi industry in the country.

Stakeholders ask Nersa to dismiss Eskom’s tariff hike 10 November 2017, 5:14 PM

Stakeholders from various sectors have pleaded with the Nersa to consider the impact of Eskom's latest application for tariff hikes.

Reserve Bank independence not under threat: Kganyago 10 November 2017, 12:37 PM

Reserve Bank Governor Lesetja Kganyago has been confronted by questions about the Reserve Bank's independence among a host of issues being addressed at the SA Tomorrow Investor Conference in New York.

Rand extends losses on jitters over education spending 10 November 2017, 12:20 PM

South Africa's rand eased on Friday, extending losses triggered on Thursday after comments by President Jacob Zuma raised concerns about higher spending on education, which would put added strain on the country's already stretched public finances.

SA’s Finance Minister reassures investors in New York 10 November 2017, 11:45 AM

Finance Minister Malusi Gigaba says United States investors are concerned with the country's fiscal consolidation, stabilizing the debt and political uncertainty that is hurting the country's economic growth prospects.

Oil markets stable, but analysts expect high volatility ahead 10 November 2017, 5:35 AM

Oil markets were little changed on Friday, supported by on-going supply cuts and strong demand, although the prospect of rising US shale output capped prices around recent gains.

VW SA at loggerheads with SARS over PAA taxing 9 November 2017, 7:52 PM

Volkswagen South Africa says it will be an injustice if SARS is allowed to tax the investment incentive used to improve the automotive industry.

Money owed to municipalities escalates to R128 billion: Treasury 9 November 2017, 7:06 PM

The National Treasury says municipal debt owed by households, commercial entities as well as state organs has escalated to R128 billion.

SA economy moving in the right direction: Zuma 9 November 2017, 3:58 PM

President Jacob Zuma says the fact that South Africa was recently able to move out of a technical recession despite tough economic conditions, is proof that the economy is moving in the right direction

More concerns over possible Moody’s downgrade 9 November 2017, 3:15 PM

Rating agency, Moody's this week flagged South Africa's downgrade as important because of the country's weakening institutions, declining growth and increasing debt levels.

Gordhan urges ethical business practices 9 November 2017, 12:40 PM

Former Finance minister Pravin Gordhan has encouraged the members of the Business Ethics Network of Africa, or Ben-Africa, to lead the way in upholding good and ethical business standards.