‘South Africans need to reassess their finances to prevent sinking deeper into debt’
Dubai has announced a new package to help the economy cope with the effects of the coronavirus outbreak, worth 1.5 billion dirhams ($408 million), the crown prince of the emirate, Hamdan Bin Mohammed Al-Maktoum, said on Twitter on Saturday.
South African banks are looking at options ranging from debt consolidation to new ways of leveraging equity to avoid defaults when coronavirus-related debt relief measures end, industry officials said.
Eskom will resume Stage 2 load shedding at 9am from Saturday morning after suspending it at 10pm on Friday night.
The Free State government says it has developed an economic recovery plan to revive several industries which have been forced to close.
Eskom has implemented Stage 2 load shedding which started at midday. This is due to an increase in plant breakdowns leading to the loss of more than 3000 megawatts of capacity.
The Public Enterprises Department says it is not prepared to deal with additional demands from the South African Airways Pilots' Association (SAAPA)'s regarding Voluntary Severance Packages.
Asian shares were set to open mostly lower on Friday as record-breaking new coronavirus cases and deaths in several US states stoked concerns that new lockdowns could derail the economic recovery, and investors looked forward to earnings season.
The National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) have welcomed the decision by the Labour Appeal Court to dismiss the appeal launched by the SAA Business Rescue Practitioners (BRPs). The practitioners wanted the court to set aside a Labour Court's decision, barring them from proceeding with retrenchments at SAA without a Business Rescue Plan.
The High Court in Pretoria has granted the Fair Trade Independent Tobacco Association (FITA) permission to appeal government’s ban on the sale of cigarettes during lockdown. The application will be heard on July 15.
Foreign mine workers have begun returning to South African mines, though at a slower rate than hoped, as the industry rebuilds output after the easing of the coronavirus lockdown, the Minerals Council said on Thursday.
More than 700 employees of a manufacturing company in Mkhuhlu near Bushbuckridge, Mpumalanga, claim to have been dismissed from work for self-isolating.
The South African Commercial, Catering and Allied Workers Union (Saccawu) has lashed out at retail giant Massmart for using coronavirus to retrench workers.
Public Works Minister, Patricia De Lille, says she has appointed a law firm to advise her on disciplinary action to be taken against several officials implicated in alleged fraud in her department.
Oil prices barely moved in early trade on Thursday as positive momentum from signs of a recovery in US gasoline demand was tempered by concerns about renewed lockdowns with COVID-19 infections surging in the United States.
Unions say they are happy to have secured a salary increase for the number of workers who will keep their jobs at the South African Airways (SAA).
The Financial Sector Conduct Authority (FSCA) has published the Conduct Standard for Banks on Wednesday. The regulation is aimed at protecting financial customers.
Kenya and the United States formally launched negotiations on Wednesday for a bilateral trade pact that the two economies hope could serve as a model for additional agreements across the African continent.
The dollar edged lower against its rivals on Wednesday as investors weighed hopes for a swift economic recovery against fears about a resurgence in the pandemic, particularly in the United States.
Global leaders called for a comprehensive approach to counter the impact of the coronavirus pandemic, which International Labour Organization chief Guy Ryder said on Wednesday had plunged the world of work into"unprecedented crisis".
Government says it is pleased that labour unions and representatives of non-unionised managers and ground staff, have agreed to accept the SAA voluntary severance packages.
British Finance Minister Rishi Sunak will announce on Wednesday his next moves to prevent a wave of job cuts from snowballing into a full-blown unemployment crisis in the world’s sixth-biggest economy.
The Department of Public Enterprises (DPE) says its encouraged that labour unions, and representatives of non-unionised managers and ground staff, have agreed to accept the South African Airways (SAA) voluntary severance packages (VSPs) which will be supported by a social plan and skills development programme for employees who will be retrenched.
South Africa retailer Massmart Holdings Ltd has started talks with unions to cut up to 1,800 jobs at the company’s struggling Game stores as constrained spending and the new coronavirus weigh on performance, the company said on Tuesday.
South Africa’s plans to rein in government spending will be hard to implement due to low economic growth, ratings agency Fitch said on Tuesday, adding the country had a poor track record of delivering debt and spending cuts.
Britain risks throwing away its long-standing relationship with China if it bans Huawei from its 5G networks at the behest of the United States as part of a global battle for technological supremacy, the UK chairman of the tech group told Reuters.
More than 50 people have been laid off as Anglo Platinum's Twickenham mine closes some operations at its Mopetsi camp outside Burgersfort in Limpopo.
The employees of airline catering company LSG Sky Chefs are accusing the company of continuing to operate despite receiving letters that the company will not be operational throughout the lockdown
Treasury Director-General Dondo Mogajane says a preliminary report on the establishment of the State Bank has been finalised and will be presented to Cabinet.
South Africa's consumer confidence has slumped to minus-33 points in the second quarter compared to minus-nine points in the first quarter.
Five hundred and ten Media24 workers are likely to lose their jobs as the company considers downsizing, due to the impact of the COVID-19 pandemic.
