SAA to resume domestic flights but may need financial support, says Aviation analyst

26 May 2020, 9:43 PM
Aviation experts say the resumption of South African Airways (SAA) flights without the government's capital injection could deepen the airline's financial troubles.
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US Secretary of the Treasury Steven Mnuchin
US Treasury secretary remains concerned about weak China currency 12 October 2018, 6:08 PM

US Treasury Secretary Steven Mnuchin said Friday he had told the head of China's central bank about his concerns over the weakness of China's currency.

World stock markets rebound from rout 12 October 2018, 4:56 PM

Global stock markets staged a mild rebound Friday, one day after ferocious losses sparked by heightened economic concerns...

Sassa building
Sassa strike officially over 12 October 2018, 4:45 PM

The strike by members of the National Education Health and Allied Workers’ Union (Nehawu) at the South African Social Security Agency (Sassa) is over. Nehawu, Sassa and Social Development Minister Susan Shabangu have reached an agreement to end the strike. The parties also announced this week, following a meeting, that the Biometric Enrolment of grant […]

Unions to seek clarity on SABC turnaround strategy 12 October 2018, 10:54 AM

The Broadcasting, Electronic, Media & Allied Workers Union says the notice of Section 189 of the Labour Relations Act sent to unions by the South African Broadcasting Corporation is defective.

“SABC salaries not guaranteed over next three months” 12 October 2018, 9:11 AM

The SABC says there are no any guarantees that the public broadcaster will be able to pay salaries and the thirteenth cheques over the next three months.

VBS employees face retrenchment 12 October 2018, 5:49 AM

About 100 VBS Mutual Bank employees countrywide face possible retrenchment next month.

The cover of the report into the looting of VBS bank
Hawks, NPA team up to investigate VBS Mutual Bank looting 11 October 2018, 9:49 PM

The Hawks says it has assembled a strong, well-resourced team to investigate the looting of funds from the Venda-based VBS Mutual Bank.

Markus Jooste
Steinhoff’s shares plunge after global rout, report on retailer’s ex-CEO 11 October 2018, 8:05 PM

Steinhoff’s shares fell more than 9 percent on Thursday to a near two-month low after a global market rout and a report by Bloomberg saying the retailer’s former CEO advised friends to sell the firm’s stock days before the shares collapsed.

A group of workers
Numsa gears up for national strike in plastic sector 11 October 2018, 7:20 PM

The National Union of Metalworkers of South Africa (Numsa) is gearing up for a national mega strike in the plastic sector from Monday next week.

Sanlam logo
Sanlam seals $1 billion deal for Morocco’s SAHAM 11 October 2018, 6:50 PM

South Africa’s biggest insurer Sanlam has sealed a $1.1 billion deal to acquire the remaining 53.37 percent stake in Moroccan insurance firm SAHAM Finances after receiving regulatory approvals, it said on Thursday.

Fuel pumps
Petrol price cap will negatively affect consumers: Analysts 11 October 2018, 6:35 PM

Analysts say a cap on the price of 93-unleaded petrol will ultimately have a negative impact on consumers.

A fuel pump
Govt exploring ways of capping price of unleaded petrol 11 October 2018, 3:25 PM

Government is exploring ways of capping the price of unleaded petrol, which is currently at an all-time high, with consumers feeling the brunt of the soaring costs of transport and food.

Sassa Building
Striking Nehawu workers expected to meet to map way forward 11 October 2018, 12:10 PM

Labour union Nehawu is to meet striking social security agency(SASSA) workers on Wednesday to decide the way forward following the suspension of the Biometric Enrolment for grant beneficiaries.

Hawks probe VBS Mutual Bank looting 11 October 2018, 9:00 AM

The Hawks say that a team of investigators and prosecutors are conducting an investigation into those suspected of looting billions of rands from VBS Mutual Bank.

CWU to seek clarity on SABC retrenchments 11 October 2018, 6:00 AM

The Communications Workers Union says it will use Friday's consultative meeting with SABC management to seek clarity on the retrenchments and the public broadcaster's turnaround strategy.

S Africa should seek damages from KPMG over bank graft: central bank probe 10 October 2018, 9:22 PM

South Africa should seek damages from global auditor KPMG for the role it played in a corruption scandal that saw at least 1.9 billion rand ($130 million) stolen from local bank VBS, a central bank investigation published on Wednesday said.

Angola secures $2 bln in infrastructure financing from China 10 October 2018, 8:02 PM

Angola has secured $2 billion in Chinese financing from the China Development Bank for infrastructure projects on President João Lourenço’s first visit to Beijing, Angola’s state newspaper Jornal de Angola reported on Wednesday.

IMF, World Bank endorse Zimbabwe’s plan to clear arrears – finance minister 10 October 2018, 7:46 PM

The World Bank and IMF have endorsed Zimbabwe’s road map to clear more than $2 billion in foreign arrears at a meeting in Indonesia on Wednesday, the finance minister said, adding that the lenders had also backed his two-year economic recovery plan.

South African business confidence index rises in September 10 October 2018, 5:51 PM

Business confidence in the South African economy rose in September, helped by higher export volumes, new vehicle sales and lower inflation, a survey showed on Wednesday.

Ex-central banker Mboweni takes on South Africa’s hobbling economy 10 October 2018, 5:15 PM

South African markets rallied after the appointment of former central banker Tito Mboweni as finance minister, an ANC insider and ally of President Cyril Ramaphosa expected to focus on wooing investors and reviving an economy in recession.

VBS Mutual Bank
VBS report recommends criminal charges against individuals implicated 10 October 2018, 4:47 PM

A final report on the investigation into large-scale fraud at VBS Mutual Bank indicates that there are no prospects of saving the bank after about R2 billion in depositors' money was looted.

“Irregular expenditure is worrying” 10 October 2018, 4:31 PM

Members of Parliament's oversight Committee on Public Enterprises have expressed outrage about the irregular expenditure of more than R27-billion at Eskom, Transnet and environmental group, Alexco

Leaders need to fix broken economic models: IMF chief 10 October 2018, 2:34 PM

World leaders need to fix global trading systems instead of trying to tear them down, International Monetary Fund chief Christine Lagarde said Wednesday, in a rebuke to nationalist politicians pushing tariffs and protectionism.

DA’s Mncwango urges commitment towards job creation 10 October 2018, 12:22 PM

The Democratic Alliance KwaZulu-Natal premier candidate for the 2019 elections Zwakele Mncwango says every leader needs to commit to curbing the high rate of unemployment in South Africa.

eThekwini EPWP workers protest for permanent jobs 10 October 2018, 10:08 AM

eThekwini Expanded Public Works Programme employees have embarked on protest action who are demanding permanent positions.

Sassa workers affiliated to Nehawu to down tools 10 October 2018, 8:04 AM

The South African Social Security Agency workers affiliated to the National Education, Health and Allied Workers’ Union are expected to go on a national strike on Wednesday morning.

Mboweni appointment comes at a critical time: Ramaphosa 10 October 2018, 5:56 AM

President Cyril Ramaphosa says the appointment of former Reserve Bank Governor Tito Mboweni as Finance Minister comes at a critical time for the South African economy.

Tito Mboweni sworn in as new Finance Minister 9 October 2018, 5:22 PM

President Cyril Ramaphosa has accepted the resignation of Finance Minister Nhlanhla Nene.

Nigeria’s central bank head to meet MTN, banks over $8.1 bln repatriation row 9 October 2018, 4:36 PM

Nigeria's central bank governor is to meet representatives of telecommunications company MTN and banks on Tuesday to discuss a dispute over the repatriation of $8.1 billion, two sources with direct knowledge of the matter said.

Zimbabwe miner RioZim to sue central bank over dollar payments 9 October 2018, 3:21 PM

Zimbabwe's gold miner RioZim on Tuesday said it would take legal action to force the central bank to pay it in US dollars for part of its output, signalling impatience by mining companies over acute dollar shortages afflicting the economy.