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.
Tour operators in KwaZulu-Natal accused of violating travel restrictions 23 March 2020, 4:23 PM

KwaZulu-Natal Health MEC Nomagugu Simelane-Zulu has accused tour operators in the Kosi Bay area in northern KwaZulu-Natal of violating travel restrictions imposed by President Cyril Ramaphosa in the wake of the coronavirus outbreak

Ford decides to halt production in India, South Africa on coronavirus impact 23 March 2020, 3:04 PM

Ford Motor Co (F.N) said on Monday it has decided to temporarily halt vehicle and engine production at its factories in India, South Africa, Thailand and Vietnam in response to the growing impact of the coronavirus.

Emirates to operate limited passenger and cargo services 23 March 2020, 1:02 PM

One of the world's biggest long-haul airlines, Emirates says it will continue to operate passenger and cargo services to certain countries, following requests from governments and passengers.

standard bank
Standard Bank ready to assist clients amid coronavirus outbreak 23 March 2020, 12:18 PM

Standard Bank has advised its customers, concerned over mortgage payments amid the economic impact of the coronavirus outbreak, to contact the bank to arrange for personalised solutions.

Stocks crumble as more nations shut for business to curb virus 23 March 2020, 7:01 AM

Asian shares sank on Monday as a rising tide of national lockdowns threatened to overwhelm policymakers’ frantic efforts to cushion what is likely to be a deep global recession.

World Bank moving forward on first $1.7 billion in pandemic aid projects 23 March 2020, 1:00 AM

The World Bank’s executive board is expected to consider later this week the first fast-track funds to help Afghanistan and Ethiopia respond to the coronavirus pandemic, the Bank’s president said on Sunday.

Business sector tables proposals to mitigate COVID-19 impact on economy 22 March 2020, 5:14 PM

Economic Development Minister Ebrahim Patel says business has contributed excellent ideas and proposals to government with regards to mitigating the impact of the COVID-19 pandemic on the economy.

President Cyril Ramaphosa
President Cyril Ramaphosa to consult with business leaders 22 March 2020, 11:51 AM

President Cyril Ramaphosa will on Sunday begin with a consultation with business leaders at the Union Buildings.

Pretoria commuters express frustrations on taxi industry’s slow reaction on coronavirus 22 March 2020, 2:00 AM

Most taxi ranks are not yet compliant to curb the spread of coronavirus.

Eskom reaches out of court settlement with Deloitte Consulting 21 March 2020, 7:31 AM

Eskom says it has reached an out-of-court settlement with Deloitte Consulting over the irregular procurement process that saw the international consulting firm collect R207 million in fees from the cash-strapped power utility

IMF sees severe impact from pandemic on global economy, but crisis temporary 21 March 2020, 12:37 AM

The impact of the global coronavirus pandemic will be "quite severe," but a long expansionary period and high employment rates mean the global economy should weather the current shock, a top International Monetary Fund official said on Friday.

SAA cancels all regional flights 20 March 2020, 11:44 PM

SAA has announced that it is also suspending all its regional flights until the 31st of May after cancelling all its international operations on Thursday.

MTN still has to answer for expensive data: Competition Commission 20 March 2020, 4:01 PM

The Competition Commission says MTN South Africa still has a case to answer despite its decision to cut data tariffs.

SAA cancels international flights 20 March 2020, 12:31 PM

The South African Airways (SAA) has cancelled  international flights until May 31, 2020.

Rate cut welcomed as temporary reprieve to consumers and economy 20 March 2020, 9:16 AM

Economists say the Reserve Bank's rate cut will provide a temporary reprieve to consumers and the economy as the coronavirus continues to spread around the world.

Eskom acknowledges allegations of corruption against COO 20 March 2020, 7:30 AM

The Eskom board has acknowledged receipt of correspondence on allegations of corruption and victimisation against its Chief Operating Officer.

Patel announces regulations to control pricing, supply of goods 20 March 2020, 4:16 AM

Trade and Industry Minister, Ebrahim Patel, has announced regulations to control the pricing of items from major retailers in the country.

British Airways pilots to face 50% pay cut over coronavirus – FT 20 March 2020, 1:03 AM

British Airways pilots will face a 50% pay cut to their basic salary for April and May, as the airline seeks to reduce its cost to try survive the coronavirus crisis, the Financial Times reported on Thursday.

Dollar rampage spurs forex interventions, speculation of big G7 move 19 March 2020, 11:15 PM

From Brazil to Norway, policymakers are leaping to defend currencies against the onslaught of the dollar which scaled three-year peaks on Thursday, raising speculation that a joint move by the world’s biggest central banks may be in the offing.

Dischem strict on bulk buying 19 March 2020, 10:06 PM

Dis-Chem Pharmacies says it will be limiting the number of items consumers can purchase with immediate effect.

Mixed reactions to new alcohol regulations in hospitality industry 19 March 2020, 8:57 PM

Business owners in the hospitality industry say new regulations stipulating early closure times and a limitation on the number of patrons in establishments pose new challenges for their businesses.

Lesetja Kganyago
Economists welcome interest rate cut 19 March 2020, 6:49 PM

Most economists have welcomed the Reserve bank's decision to cut the repo rate by a full percentage point.

Kganyago cuts interest rate by 100 basis points 19 March 2020, 4:00 PM

Reserve Bank Governor Lesetja Kganyago on Thursday announced an interest rate cut of 100 basis points, as South Africa moves to combat the severe economic effects of the coronavirus. The Reserve Bank Governor says lower inflation and suppressed economic growth has necessitated rate-cutting.

JSE upbeat markets will recover once conoronavirus fears recede 19 March 2020, 11:00 AM

The rand has weakened by 40 cents against the dollar in overnight trade after having broken through the R17 level following higher than expected consumer price inflation data for February of 4.6% year-on-year.

Weakening rand attributed to looming global recession 19 March 2020, 4:01 AM

Economist Iraj Abedian says a looming global recession due to the coronavirus pandemic has contributed to the decline in the rand.

Coronavirus outbreak could destroy up to 25 million jobs: ILO 19 March 2020, 12:31 AM

The coronavirus pandemic could trigger a global economic crisis destroying up to 25 million jobs around the world if governments do not act fast to shield workers from the impact, the International Labour Organization (ILO) said on Wednesday.

Dollar spikes to 3-year highs as coronavirus fears fuel funding crunch 19 March 2020, 12:02 AM

The dollar soared across the board on Wednesday, hitting multi-year highs against several major currencies, as companies and investors worried by the coronavirus outbreak rushed to the perceived safety of the US currency.

Retail sales increase amid coronavirus outbreak 18 March 2020, 8:39 PM

Retail sales have surprised on the upside in the first month of 2020. The latest Stats SA data shows that retail trade sales increased by 1.2% year-on-year in January 2020.

Locals lament Kosi Bay border closure 18 March 2020, 7:50 PM

The Kosi Bay/ Ponta do Ouro border which links South Africa to Mozambique has been closed and locals are already feeling the impact.

Airlines count mounting costs of the coronavirus shock 18 March 2020, 3:19 PM

Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.