Fuel price cut on the horizon

28 March 2020, 8:10 PM
Minister of Minerals Resources and Energy Gwede Mantashe says the current local and International factors will result in an adjustment for fuel prices in April.
SA political parties react to Moody’s SA downgrade 28 March 2020, 5:00 PM

The South African Communist Party (SACP) has described as heartless and opportunistic the decision by credit rating agency Moody's to downgrade the country's economy to junk status.

Treasury bemoans Moody’s decision to downgrade SA to Junk status 28 March 2020, 9:02 AM

National Treasury has noted ratings agency, Moody's decision to downgrade South Africa's sovereign credit rating to junk status.

Fitch cuts UK’s rating on coronavirus debt surge 28 March 2020, 1:41 AM

Ratings agency Fitch cut Britain's sovereign debt rating on Friday, saying the country's debt levels would jump as the government ramped up its spending to offset the near shutdown of the economy in the face of coronavirus.

Moody’s downgrades South Africa to ‘junk’ status 28 March 2020, 12:58 AM

Moody’s downgraded South Africa’s sovereign credit rating to “junk” status on Friday, heaping more misery on an economy already in recession and now staring down the barrel of a steep contraction over the global coronavirus pandemic.

Taxi drivers appeal for the relaxing of transport curfews 27 March 2020, 7:01 PM

Metered taxi and E-hailing drivers in Port Elizabeth are appealing to the Minister of Transport Fikile Mbalula to relax the transport curfews put in place during the coronavirus lockdown.

AA predicts SA’s biggest fuel drop on record as country battles coronavirus 27 March 2020, 2:46 PM

As the country battles the spread of the coronavirus with over 1000 cases and two reported deaths, there is some good news from the Automobile Association (AA) with the biggest fuel price drop on record.

Call for rates suspension for small businesses amid national lockdown 27 March 2020, 10:58 AM

The Cape Chamber of Commerce has called for the suspension of rates and rents to save jobs and small businesses in light of the national lockdown.

Oil rises as broader markets gain on hopes for more stimulus 27 March 2020, 4:21 AM

Oil prices rose on Friday after world leaders promised a massive injection of funds to limit the economic fallout from the coronavirus pandemic, despite fears the outbreak will destroy demand for oil.

Tens of millions face losing jobs in escalating coronavirus crisis 27 March 2020, 1:53 AM

Global job losses from the coronavirus crisis could far exceed the 25 million estimated just days ago, UN officials said on Thursday, as US jobless claims surged to record levels, starkly showing the scale of the economic disaster.

Glencore closes some operations in four countries over coronavirus curbs 26 March 2020, 8:52 PM

Glencore PLC on Thursday halted a number of smaller mines due to government restrictions to curb the spread of the coronavirus but added its larger operations were not materially impacted.

South African port closures to hit global copper supply 26 March 2020, 8:04 PM

South Africa’s main export terminals will be closed to mineral exports from midnight on Thursday when a nationwide 21-day lockdown over coronavirus begins, disrupting copper supply from major producer Zambia.

Thulas Nxesi
Government to help struggling companies pay wages during shutdown: Nxesi 26 March 2020, 4:17 PM

South Africa is counting the hours to the start of the 21-day National Lockdown to reduce the spread of the deadly COVID-19 virus.

Vendors in North West concerned about their livelihoods 26 March 2020, 2:45 PM

Street vendors in the Rustenburg CBD in the North West say although they are willing to comply with the national lockdown announced by President Cyril Ramaphosa this week, they are concerned about their livelihoods.

China’s factories reopen, only to fire workers as virus shreds global trade 26 March 2020, 10:31 AM

Shi Xiaomin, who used to export suits and blazers by the thousands to South Korea, the Netherlands and the United States, was luckier than many other Chinese factory owners.

Airbnb says US coronavirus stimulus bill could offer its hosts some relief 26 March 2020, 4:50 AM

Airbnb Inc hosts in the United States could get some relief from a $2 trillion coronavirus stimulus bill that is nearing a vote in Congress,the home-rental startup said on Wednesday.

Afreximbank creates $3 bln pandemic credit facility for Africa 25 March 2020, 6:10 PM

The African Export Import Bank is creating a $3 billion credit facility to help African countries overcome the effects of the coronavirus pandemic, Afreximbank announced in a statement.

Mining operations to be scaled down during lockdown: Mantashe 25 March 2020, 4:12 PM

Minister of Mineral Resources and Energy, Gwede Mantashe, says mining operations will be scaled down significantly during the 21-day lockdown announced by President Cyril Ramaphosa.

Banks, regulators move to protect customers from wave of coronavirus scams in UK, US 25 March 2020, 3:00 AM

United Kingdom (UK) banks are stepping up fraud prevention measures to protect customers from scammers eager to exploit the coronavirus pandemic with a whole range of new tricks, including fake sales of medical supplies and bogus government relief schemes.

South Africa’s foreign direct investment dips in 2019 24 March 2020, 11:13 PM

South Africa saw a dip in foreign direct investment in 2019 compared to the previous year, with inflows falling to 66.8 billion rand ($3.78 billion) from 72.1 billion rand, the central bank said on Tuesday.

SAA suspends all domestic flights 24 March 2020, 9:45 PM

South African Airways (SAA) has suspended all its domestic flights with effect from Friday until April 16, the period during which South Africa is on lockdown in an attempt to slow the spread of the coronavirus.

SA’s mining sector braces for coronavirus lockdown 24 March 2020, 8:24 PM

South African mining companies are bracing for a heavy hit from the country’s looming nationwide lockdown to slow the spread of the coronavirus, warning of an expected leap in costs in addition to their lost output.

Minister Patel signs new regulations, establishes toll-free hotline to report hike prices 24 March 2020, 8:01 PM

Trade and Industry Minister, Ebrahim Patel, says a toll-free hotline has been established to report individuals or companies that hike the prices of products such as facemasks, gloves and hand sanitizers amid the coronavirus outbreak.

Kenya to seek IMF help, pay arrears, speed tax refunds over coronavirus, officials say 24 March 2020, 6:32 PM

Kenya’s government plans to seek help from the International Monetary Fund, pay pending bills to suppliers and quickly process company tax refunds to support the economy in the face of the coronavirus crisis, officials said.

Stop panic buying and stockpiling: Didiza 24 March 2020, 3:33 PM

Agriculture Minister, Thoko Didiza, has sought to allay fears of food shortages amid the coronavirus outbreak, saying the country is well supplied with food.

New regulations to help financially distressed businesses gazetted 24 March 2020, 2:03 PM

Trade and Industry Minister Ebrahim Patel has signed new regulations that will allow commercial banks and shopping mall owners to help financially distressed businesses amid the devastating impact of the coronavirus.

Rand will remain extremely weak in coming days, warn economists 24 March 2020, 4:55 AM

Economists have warned that the rand will remain extremely weak in the coming days as the coronavirus continues to ravage global markets.

Ramaphosa puts in place economic measures to mitigate impact of COVID-19 24 March 2020, 4:08 AM

President Cyril Ramaphosa has announced measures to support the economy while the country is on lockdown.

Fast food closures sweep UK, as even drive-thrus deemed unsafe 24 March 2020, 4:02 AM

Fast food is canceled in Britain.

Ramaphosa sets up Solidarity Fund to cushion impact of COVID-19 23 March 2020, 10:05 PM

President Cyril Ramaphosa has announced a set of interventions to cushion the impact of the novel coronavirus epidemic on the country's already ailing economy.

Nedbank, Standard Bank offer relief packages to clients amid coronavirus pandemic 23 March 2020, 6:28 PM

Nedbank and Standard Bank are offering relief packages to their clients in the wake of the coronavirus pandemic.