Mboweni outlines interventions aimed at reviving economy
The Department of Trade, Industry and Competition (DTIC) together with the Department of Small Business Development (DSBD) say they have started offering financial and non-financial support to all the businesses that were affected by looting and vandalism in parts of the country.
The Ministers of Small Business Development and Trade, Industry, and Competition are briefing the media on business support measures.
Recent unrest in South Africa damaged hundreds of businesses but property developers and retailers say they remain committed to the fast-growing consumer markets of its predominantly Black townships.
Government has sent out a strong message to businesses that only tax-compliant ones will be able to access funds from its planned R36,1 billion relief fund.
Government says it will allow workers to access a portion of their Pension Fund to help them to deal with the economic impact of the COVID-19 pandemic.
Director of the Institute for Economic Justice, Gilad Isaacs says government's financial support alone will prevent the risk of social unrest in the country.
US stocks and the dollar slipped on Wednesday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track.
The National Union of Metalworkers of South Africa (NUMSA) says it will be meeting with employers at Harmony Gold for a fresh round of wage talks on Thursday.
Companies doing business with Transnet suffered major setbacks following cyber-attack on the parastatal.
Finance Minister Tito Mboweni says discussions are at an advanced stage between government and stakeholders on the possibility of allowing workers to access their retirement funds to enable them to pay off their debt.
The Minister of Employment and Labour, Thulas Nxesi, is briefing the media on COVID-19 Alert Level 3 measures in relation to the labour and employment sector.
The finance minister has also revealed that government has set aside R36.1 billion to fund all the social relief measures provided to deal with the impact of COVID-19 and the violence and looting that engulfed the country recently.
The funeral and burial industry says it is experiencing problems in acquiring the raw material used to make the coffins from KwaZulu-Natal after the recent violence and looting in the province disrupted the supply chain.
The ANC's head of economic transformation Enoch Godongwana has conceded that the country's current economic situation is of its own making.
The Police and Prisons Civil Rights Union (POPCRU) has described government's wage increase offer of 1.5% and the monthly cash allowance of R1 695 for public servants as an insult to its members who are frontline workers.
The Biden administration on Tuesday announced a new push to expand business ties between US companies and Africa, with a focus on clean energy, health, agribusiness and transportation infrastructure on the continent.
US stocks fell on Tuesday, ending a five-day winning streak in the three major indexes, as investors were cautious before results from top tech and internet names and Wednesday's Federal Reserve announcement.
In its World Economic Outlook report, the IMF says while there's been marginal growth in developed economies, their gains have been offset by developing and emerging markets whose prospects are marked down for 2021.
Teachers Union, Sadtu, has expressed relief after the Public Servants Association (PSA) signed the draft public sector wage agreement, which includes a 1.5% wage increase.
Some employees at the Supreme Poultry factory in Mahikeng in the North West are accusing the company of not complying with COVID-19 regulations. They say they are working in areas that are not deep-cleaned or fumigated following positive cases of COVID-19.
The president of the South African Cabin Crew Association (Sacca), Zazi Nsibanyoni-Mugambi, says workers' unions at Mango Airlines and management want the success of the airline and to save it from liquidation.
Tiger Brands Chief Corporate Affairs and Sustainability Officer Mary-Jane Morifi says both the recent unrest and recalling of approximately 20 million KOO and Hugo's canned vegetable products have had a negative impact on business.
The President of the South African Cabin Crew Association, Zazi Nsibanyoni-Mugambi, says the decision to file an urgent application with the High Court in Johannesburg to place Mango Airlines under business rescue is the best solution for the airlines and its employees.
Global economic growth prospects are holding strong for this year and next, despite a significant majority of economists in Reuters polls warning new variants of the coronavirus pose the biggest risk to that outlook. A global survey of nearly 500 economists taken this month also concluded recent rising inflation in key economies around the world […]
The dollar edged lower on Monday against a basket of peer currencies as investors positioned themselves ahead of this week's US Federal Reserve policy meeting, while crypto-currency prices rose to their highest in weeks.
Those who have successfully applied to the Unemployment Insurance Fund (UIF) for the new round of TERS payments should have started getting paid as from Monday.
Unions from the South African Cabin Crew Association (Sacca), the National Unions of Metal Workers (Numsa) and the Mango Pilots Association on Monday filed an urgent court application with the High Court in Johannesburg to place Mango under business rescue.
The Tourism, Trade and Investment promotion agency for the Western Cape, Wesgro, says the cancellation of the 2020/2021 cruise ship season could badly impact the country's economy.
Unions from the South African Cabin Crew Association, the National Union of Metalworkers of South Africa and the Mango Pilots Association are set to file an urgent court application at the High court in Johannesburg to place Mango under business rescue.
Food manufacturer Tiger Brands recently announced the recall of 20 million canned KOO and Hugo vegetable brands due to the leak.
