Asian shares cautiously gain on virus hopes, dollar slips

7 April 2020, 7:40 AM
Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be levelling off in New York and receding in Europe.
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Informal traders call on government to provide relief amid lockdown 7 April 2020, 6:27 AM

A group of organisations representing informal traders has called on government to provide relief and financial assistance to workers during the lockdown period.

Social groups urge mass debt relief for poor countries hit by crisis 7 April 2020, 3:14 AM

Nearly 140 campaign groups and charities urged the IMF and World Bank, G20 governments and private creditors on Tuesday to help the world’s poorest countries through the coronavirus crisis by cancelling debt payments.

Wall Street soars on hopes of slowing coronavirus deaths 7 April 2020, 2:13 AM

US stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country’s biggest coronavirus hot spot, fueled optimism a leveling off of the pandemic was on the horizon.

OPEC and allies likely to cut production if US joins cuts: sources 6 April 2020, 10:04 PM

The group of oil producers known as OPEC+, including Saudi Arabia and Russia, are likely to agree to cut production at a meeting scheduled for Thursday as long as the United States joins in cutting output, three OPEC+ sources told Reuters.

SA’s growth unlikely to exceed 1% in 2021: Reserve Bank 6 April 2020, 6:03 PM

The Reserve Bank has cut its growth forecasts for South Africa, predicting the economy could shrink by as much as 4% in 2020 due to the coronavirus pandemic, the national 21-day lockdown and the recent downgrades by credit rating agencies.

Thoko Didiza
R1.2 bln disaster fund targeted at smallholder and communal farmers: Didiza 6 April 2020, 4:40 PM

Agriculture Minister Thoko Didiza says the R1.2 billion COVID-19 disaster fund will be targeted at smallholder and communal farmers with an annual turnover of R20 000 to R1 million.

Rand remains weak against world currencies  6 April 2020, 12:01 PM

The rand has continued to remain weak against a basket of currencies at opening trade on Monday morning.

Russia and Saudi ‘very close’ to oil deal, Moscow negotiator tells CNBC 6 April 2020, 10:24 AM

Saudi Arabia and Russia are “very, very close” to a deal on oil production cuts, Kirill Dmitriev, head of Russia’s sovereign wealth fund, told CNBC on Monday.

Johannesburg to start issuing temporary permits to informal food traders 6 April 2020, 6:39 AM

The City of Johannesburg will from on Monday start issuing temporary permits allowing informal food traders to operate as providers of essential services during the lockdown period.

Online SA citizens have more confidence in government than in business 6 April 2020, 3:20 AM

A majority of online South Africans are confident that the national government is effectively addressing the threat posed by the spread of the coronavirus, even as lockdowns and closures force millions to isolate themselves.

Africa could lose 20 million jobs due to pandemic 6 April 2020, 1:30 AM

About 20 million jobs are at risk in Africa as the continent’s economies are projected to shrink in 2020 due to the impact of the coronavirus pandemic, according an African Union (AU) study.

Medical aid schemes expect to spend millions as COVID-19 cases climb to 1 655 5 April 2020, 10:00 PM

Medical Aid Schemes estimate that they will spend over R2 billion just on COVID-19 testing and treatment.

Africa could lose 20 million jobs due to COVID-19 pandemic: AU study 5 April 2020, 9:00 PM

About 20 million jobs are at risk in Africa as the continent's economies are projected to shrink this year due to the impact of the coronavirus pandemic, according an African Union (AU) study.

BAT South Africa urges government to lift cigarette sale ban 5 April 2020, 1:48 PM

The South African arm of British American Tobacco urged the government on Saturday to reconsider its ban on cigarette sales during the nationwide coronavirus lockdown, saying it would have unintended consequences.

Rand to come under more pressure: Experts 5 April 2020, 7:38 AM

Market analysts expect the rand and local stocks to come under more pressure when trading on the local bourse resumes on Monday.

World Bank sees ‘major global recession’ due to pandemic 5 April 2020, 2:25 AM

World Bank Group President David Malpass on Friday said the rapidly spreading COVID-19 pandemic was expected to cause a “major global recession” that would likely hit the poorest and most vulnerable countries the hardest.

Over 2000 small businesses have applied for financial relief 4 April 2020, 8:00 AM

Small Business Development Minister, Khumbudzo Ntshavheni, says her department has received over 2000 applications from small businesses for financial relief since the launch of the system.

Fitch downgrades SA further into junk, government reiterates commitment to economic structural reforms 4 April 2020, 12:00 AM

The South African government says that it has noted Finch’s decision to downgrade SA’s long-term foreign and local currency debt ratings further into non-investment by one notch from BB+ to BB.

Shopping
Pretoria chain store adjusts to COVID-19 pandemic 3 April 2020, 8:00 PM

A chain store in Centurion, south of Pretoria, has responded to the rapidly-changing lifestyles necessitated by the Covid-19 pandemic by disrupting traditional forms of local supermarket shopping as we know it.

Municipalities not issuing permits to informal food traders: SA Informal Traders Alliance 3 April 2020, 4:20 PM

President of the South African Informal Traders Alliance Rosheda Muller says municipalities are not issuing permits for informal food traders.

Rand on the ropes as economic fears grow 3 April 2020, 12:22 PM

South Africa's rand weakened for a third session in a row early on Friday as the growing likelihood of a global recession due to the spreading coronavirus compounded an already gloomy local economic outlook.

Eastern Cape establishes Economic Commission to assist business sector 3 April 2020, 7:03 AM

Eastern Cape Premier Oscar Mabuyane has established an Economic Commission to assist the business sector after the coronavirus lockdown ends.

World Bank approves initial $1.9 bln in emergency coronavirus funds 2 April 2020, 11:50 PM

The World Bank on Thursday said it had approved an initial $1.9 billion in emergency funds for coronavirus response operations in 25 developing countries, with more than half the aid earmarked to help fight the fast-spreading disease in India.

Traders despair as coronavirus halts khat supply to Somalia 2 April 2020, 3:59 PM

Before the coronavirus hit, Muna Nur Farah had started to hate her husband. He’d slink into their home in the Somali capital Mogadishu at 3:00am with empty pockets, his money squandered on the narcotic leaf khat.

Aside from ensuring the own hand hygiene, taxi drivers will also ensure that passengers hands are sanitized before a trip.
Taxi associations welcome sanitation at ranks 2 April 2020, 10:26 AM

Taxi associations in Johannesburg have welcomed governments decision to sanitise their ranks

Swiss manufacturing PMI sinks to lowest level since 2009 on coronavirus fears 2 April 2020, 4:59 AM

From expensive watches to chocolates and cement, Swiss industry is being battered by the coronavirus epidemic, data showed on Wednesday, with the country’s PMI survey sinking to its lowest level in more than a decade.

China’s ports brace for second hit as virus spread wipes out exports 2 April 2020, 3:51 AM

China’s ports and shipping firms are bracing for a second wave of supply chain disruptions that may be deeper and more prolonged than during the country’s coronavirus lockdown as the global spread of the virus chokes off international demand.

IMF has strong resources to deal with virus crisis, working to identify more – Officials 2 April 2020, 3:11 AM

The coronavirus pandemic is putting increasing strains on emerging market economies, but the International Monetary Fund has sufficient resources to meet their needs for now, IMF officials said on Wednesday.

Sars collects R66 billion less than projected 1 April 2020, 8:59 PM

The South African Revenue Service ( Sars) says it collected R1. 356 trillion in the financial year ending on the 31 March 2020.

Africa seeks IMF, World Bank and EU support on debt relief: UNECA 1 April 2020, 5:42 PM

African finance ministers want International Monetary Fund, World Bank and EU support for bilateral, multilateral and commercial debt relief amid the coronavirus crisis, the UN Economic Commission for Africa (UNECA) said.