Denel’s former Land Systems CEO Burger to testify at State Capture
The European Union, Canada and 11 other countries agreed on Monday to measures such as eliminating export curbs they believe should form the basis of a global deal to help tackle COVID-19 and future pandemics.
Stocks brushed up against last week’s record on Monday and an index of commodity prices closed at its highest since March as more vaccine news gave investors hope economic activity could resume globally at a faster clip than many feared.
Brent crude settled up $1.10, or 2.45 % to $46.06 a barrel while US West Texas Intermediate crude gained 64 cents to $43.06 a barrel, a 1.51% gain.
Sterling rallied on Monday, briefly touching a 2-1/2-month high, as more positive news about a potential COVID-19 vaccine propelled investors to buy riskier currencies and investors bet Britain and the European Union would clinch a Brexit trade deal.
The CEO of EOH Holdings Limited Stephen van Coller says he found tender irregularities and no proper financial controls which led to employees easily stealing money when he joined the company in 2018.
British business activity has contracted in November as a new wave of coronavirus restrictions hammered the huge services industry, but news of possible vaccines has sharply boosted hopes for 2021, a survey showed on Monday.
The Commission of Inquiry into State Capture continues on Monday in Johannesburg.
Moody's and Fitch Ratings agencies both downgraded South Africa's sovereign credit rating deeper into sub-investment territory, or junk status, after the close of the JSE on Friday.
The SABC management says it will wait for direction from the board, after it halted the retrenchment processes for seven days at the public broadcaster last week.
Oil prices extended their gains on Monday as traders were optimistic about a recovery in crude demand thanks to successful coronavirus vaccine trials, but price gains were contained by renewed lockdowns in several countries.
Leaders of the world’s 20 biggest economies on Sunday endorsed a plan to extend a freeze in official debt service payments by the poorest countries to mid-2021 and backed a common approach for dealing with their debt problems.
The Communications Workers Union (CWU) has received a letter of invitation from SABC requesting to urgently meet with the union on Monday to discuss the alternatives to retrenchments.
The Democratic Alliance (DA) says the ratings downgrades by Moody's and Fitch are votes of no confidence in President Cyril Ramaphosa's management of South Africa's economic reform agenda. Both agencies cite a weakening fiscal position, rising government debt and the economic impact of the coronavirus as reasons for the downgrades.
President Cyril Ramaphosa has urged all G20 nations to help address debt in developing countries as global economies buckle under the economic effects of the coronavirus pandemic.
Finance Minister Tito Mboweni says the decision by two ratings agencies, Fitch and Moody's, to downgrade the country further into junk is a painful blow to the country as it will have immediate implications for borrowing costs and constrain government's budget.
The Communication Workers Union (CWU) says it is continuing with its strike action against retrenchments at the SABC. The union launched a full-blown strike on Friday following days of lunchtime pickets.
South African Broadcasting Corporation (SABC) COO, Ian Plaatjies, has dismissed claims that he’ll be terminating his contract with the public broadcaster and moving to competing broadcaster, eMedia Holdings, the parent company of eTV.
The finance ministry says the ratings downgrade by Moody's and Fitch will increase the country's borrowing costs and constrain the fiscal framework.
Global Rating agencies Fitch and Moody's have both downgraded South Africa's sovereign credit rating into further junk status. They say a combination of the country's weakening fiscal position, rising government debt and the economic impact of COVID-19 are to blame.
The KwaZulu-Natal provincial government has added its voice against the looming retrenchments at the SABC and the South African Qualifications Authority.
Leaders of the 20 biggest world economies (G20) will debate this weekend how to deal with the unprecedented COVID-19 pandemic that has caused a global recession and how to manage the recovery once the coronavirus is under control.
The SABC says it has contingency plans in place amid threats of “a blackout” on its platforms.
SABC Chief Executive Madoda Mxakwe has tried to address striking Communication Workers Union (CWU) members outside the headquarters of the public broadcaster after receiving a memorandum against retrenchments.
The South African National Editors' Forum (SANEF) has proposed that the SABC embark on an independent mediation process to break the impasse over plans to retrench up to 400 permanent staff.
Non-profit advocacy organisation, Right2Know, has threatened to take legal action against the South African Broadcasting Corporation (SABC) if the retrenchment and restructuring process undermines the public's right to information.
President Cyril Ramaphosa has appointed Tsakani Maluleke as the new Auditor-General of South Africa (AGSA) for a non-renewable term of seven years with effect from 1 December 2020.
Bemawu, which represents workers at the SABC, has accused the board and management of unfair labour practices. The union says the public broadcaster's bid to convert permanent worker contracts to freelancers will continue the organisation's culture of exploitation.
Unions representing workers at the South African Broadcasting Corporation (SABC) say the strike action and expected blackout at the SABC will continue on Friday as the latest move by the board is immaterial.
Broadcasting workers' union, Bemawu, says it won't remove its urgent interdict application in the Labour Court against the SABC, despite the public broadcaster's decision to suspend the S189 process for seven days.
Britain is on course for a double-dip recession as renewed lockdown measures to try and quell a second wave of the coronavirus pandemic deliver another hammer blow to economic activity, a Reuters poll found.
