Decision to close some factories was approved by Competition Commission in 2019: Clover

28 January 2022, 7:10 PM
Clover says the decision to close some of its factories was approved by the Competition Commission in 2019. This was before the merger with Milco, a subsidiary of the Israeli Central Bottling Company, which bought a 60% stake in the company in 2019.
Escalated Russia-Ukraine conflict would keep inflation higher longer – IMF 25 January 2022, 11:37 PM

An escalated conflict between Russia and Ukraine would likely further increase energy costs and commodities prices for many countries, keeping headline inflation rates elevated for longer, a top International Monetary Fund official said on Tuesday.

Disaffected communities protest outside Mining Investment Conference in North West  25 January 2022, 9:31 PM

Disaffected communities have been protesting outside the provincial Mining Investment Conference in Rustenburg in the North West.

Labour minister conducts blitz inspection of hospitality sector in Cape Town 25 January 2022, 7:01 PM

Labour Minister, Thulas Nxesi, says it is illegal for members of the public to conduct random labour inspections at places of employment.

Multi billion harbour project to change Northern Cape’s economic landscape 25 January 2022, 4:29 PM

A multi-billion rand project to build a harbour in the Northern Cape is expected to provide much-needed economic relief for the province

South Africa’s fight against corruption has stagnated over the last 10 years: Report 25 January 2022, 3:00 PM

South Africa's fight against corruption has stagnated over the last 10 years, according to the latest Transparency International Corruption Perceptions Index.

Ramaphosa authorises public release of the final report of investigations by the SIU 25 January 2022, 1:11 PM

President Cyril Ramaphosa has authorised the public release of the final report of investigations by the Special Investigating Unit (SIU) into procurement by all spheres of government of goods and and services associated with the COVID-19 pandemic.

Tourism could potentially boost SA’s GDP: Sisulu 25 January 2022, 11:15 AM

Tourism Minister Lindiwe Sisulu says they have learnt that tourism contributed more to the Gross Domestic Product under lockdown than under normal circumstances.

Steinhoff signage
Steinhoff to pay over R24 billion to settle claims 25 January 2022, 10:08 AM

The Cape Town High Court has approved over R24 billion in settlement claims in the Steinhoff case on Monday.

Western Cape conducts mega blitz inspections of hospitality industry amid COVID-19 24 January 2022, 9:57 PM

The Department of Employment and Labour Inspection and Enforcement Services in the Western Cape are conducting mega-blitz inspections

Nigeria suspends plan to scrap costly fuel subsidy 24 January 2022, 9:35 PM

Nigeria's government has suspended plans to remove its long-standing subsidy on petroleum products in July, Finance Minister Zainab Ahmed said on Monday, saying the timing was "problematic" amid rising inflation.

Mbalula unveils multi-billion rand private investment for Durban, Eastern Cape ports 24 January 2022, 6:15 PM

Transport Minister Fikile Mbalula has announced a multi-billion rand private investment by companies operating in the Port of Durban, the Richards Bay harbour, and in the Port of Ngqura in Gqeberha in the Eastern Cape.

National Treasury outlines plans for R11 billion World Bank loan 24 January 2022, 11:22 AM

The National Treasury has outlined its plans for the over R11 billion loan that the World Bank approved for South Africa.

Rand emerges as the best performing currency so far this year 24 January 2022, 10:41 AM

The rand has strengthened by nearly two percent last week against a basket of major currencies and has been the best performing emerging markets currency so far this year.

Renault, Nissan, Mitsubishi to unveil 2030 EV plan this week 23 January 2022, 5:05 PM

Renault SA, Nissan Motor Co and Mitsubishi Motors Corp plan to triple their investment to jointly develop electric vehicles (EVs), two people with knowledge of the plan told Reuters.

Free State farmers facing challenges following persistent heavy rains 23 January 2022, 8:39 AM

Farmers in parts of the Free State say they are facing a challenging period, with major losses of their wheat yield as a result of heavy rains. Consistent rains since November have left the groundwater locked and washed away some of the crops.

Bitcoin falls 9.3% to $36,955 23 January 2022, 12:02 AM

Bitcoin dropped 9.28% to $36,955.03 at 22:02 GMT on Friday, losing $3,781.02 from its previous close.

Risk of load shedding remains low this year: Eskom 22 January 2022, 9:05 PM

Eskom says the risk of planned power outages remains low this year. This is despite the big maintenance plan at its Koeberg Nuclear Power station in Cape Town that is set to take over five months.

SA’s first black female brewer takes local beer to the world following international exposure on social media 22 January 2022, 2:04 PM

The country's first black female brewer turned to social media after the company’s closure during the COVID-19 pandemic. Mawela turned to social media to market Tolokazi beer. This caught the attention of Beer52.

IMF board approves $455 mln loan deal for Congo Republic 22 January 2022, 12:01 PM

The executive board of the International Monetary Fund (IMF) approved on Friday a three-year extended credit facility worth about $455 million for the Republic of the Congo, the IMF said.

Council embarks on an advocacy programme to promote tourism in SA 22 January 2022, 9:07 AM

Chief Executive Officer of the Tourism Council of South Africa Tshifhiwa Tshivhengwa says they have embarked on an advocacy programme in a bid to start to promote the country again as an attractive tourist destination.

Consumers shouldn’t be subjected to Eskom’s proposed 20.5% tariff increase – Energy expert 22 January 2022, 4:59 AM

Energy expert, Clyde Mallinson says the maximum electricity tariff increase should be linked to the consumer price inflation rate.

Wall Street ends week down as Netflix disappointment deepens slide 21 January 2022, 11:25 PM

Wall Street's main indexes ended sharply lower on Friday as Netflix shares plunged after a weak earnings report that also weighed on rivals, and stocks ended a gloomy week on a sour note.

Eskom defends decision to apply for a 20.5% tariff increase as it needs to raise R6.5 billion 21 January 2022, 5:34 PM

Eskom says its decision to apply for a 20.5% tariff increase for the coming financial year still stands. This emerged during the National Energy Regulator's final public hearings taking place in Johannesburg.

SA gets R11.4 billion loan from World Bank towards COVID-19 response 21 January 2022, 7:41 AM

The World Bank has approved South Africa’s request for a $750 million loan (R11.4 billion at current exchange rates). In a joint statement issued by both World Bank and National Treasury, the loan is described as a low-interest development policy loan (DPL).

Safe-haven yen gains against Aussie as risk sentiment sours 21 January 2022, 3:55 AM

The safe-haven yen gained versus the riskier Australian dollar on Friday as risk sentiment soured amid rekindled fears of heated inflation and aggressive Federal Reserve policy tightening.

Netflix misses subscriber target, offers weak forecast 21 January 2022, 12:12 AM

Netflix Inc fell short of Wall Street forecasts for new subscribers at the end of last year and offered a weaker-than-expected forecast for early 2022 as rivals amped up the competition in the battle for streaming television viewers.

No plans for load shedding in near future, Eskom assures SA 20 January 2022, 7:04 PM

In its submission to the National Energy Regulator on the request for tariff increases, Eskom has assured South Africans that there are no plans for load shedding in the near future.

KZN tourism welcomes resumption of SAA, Qatar flights from King Shaka Airport 20 January 2022, 11:20 AM

The tourism and business sectors in KwaZulu-Natal have welcomed the resumption of South African Airways (SAA) and Qatar Airways flights from Durban's King Shaka International Airport.

Labour department sites lack of resources, capacity in hospitality sector 20 January 2022, 10:25 AM

The Department of Employment and Labour says lack of resources and capacity is impacting its ability to do its job properly.

Moyo awaits judgment on a court case to declare Old Mutual directors as delinquent 20 January 2022, 7:50 AM

Former Old Mutual CEO Peter Moyo has confirmed that he is still awaiting judgment on another case in which he wants the directors of Old Mutual declared as delinquent.