The more than a century old car rental firm Hertz Global Holdings Inc filed for bankruptcy protection on Friday after its business was decimated during the coronavirus pandemic and talks with creditors failed to result in much needed relief.
The Free Market Foundation has slammed Police Minister Bheki Cele's warning that people who are caught with a cigarette will need to provide proof of purchase - questioning whether Cele was serious when he made the comments.
Limpopo Premier Stanley Mathabatha says mining companies flouting COVID-19 regulations will face consequences.
Liquor associations have called on government to urgently reopen the manufacturing, distribution, and trade of alcohol during Level 3 of lockdown.
Government has noted the decision by Standard and Poor's ( S&P ) to reaffirm the country's long-term local and foreign currency debt rating at BB- and BB respectively with a stable outlook.
Investors are diversifying bets in the healthcare sector, as the rush to develop treatments for COVID-19 has driven up prices for some pharmaceutical stocks.
S&P Global Ratings on Friday said it projects South Africa’s economy to shrink by 4.5% this year as a result of the COVID-19 pandemic that has impacted production and consumption.
The Minerals Council says 85 miners have tested positive for coronavirus (COVID-19) and there has been one death from the disease caused by the virus.
Billionaire financier George Soros said the European Union could break apart in the wake of the new coronavirus pandemic unless the block issued perpetual bonds to help weak members such as Italy.
Businesses and consumers affected by the COVID-19 pandemic will benefit from the latest interest rate cut. Regional Director at FNB South Africa, Andiswa Bata, says that the 50 basis points cut is helpful as it puts more cash back into businesses.
Economist Jeff Schultz says the Reserve Bank has taken a cautious stance by cutting the repo rate by 50 basis points. The move has eased the repo rate to 3.7%.
Eskom is now forecasting that there will be three days of load shedding during the coming winter period, from a previous forecast of thirty days before the lockdown. Eskom CEO Andre De Ruyter says Eskom’s debt still remains high at R450-billion and the company is still not able to generate enough revenue to meet its […]
The Reserve Bank has cut the repo rate by 50 basis points following its Monetary Policy Committee meeting.
Eskom Chief Executive Officer, Andre de Ruyter says the restructuring process at Eskom is still underway. However, the 'distribution' side of the business is proving to be complex and will need more work.
The Reserve Bank has cut the repo rate by 50 basis points following its Monetary Policy Committee meeting. This takes the benchmark rate to 3.75%, the lowest level since the repo was introduced in 1998.
Some economists expect the Reserve Bank's Monetary Policy Committee to leave the repo rate unchanged while others have forecast a 50 basis points cut on Thursday afternoon.
The South African Informal Traders Alliance (Saita) says the ban on the sale of cigarettes, only led to the informal trade losing their much-needed income.
Economist Maudi Lentsoane predicts that the South African Reserve Bank (SARB) is likely to cut the repo rate further when its monetary policy committee concludes its meeting on Thursday.
Oil prices edged higher on Thursday after data showed US crude inventories fell again, easing concern about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains.
The dollar nursed broad losses on Thursday and riskier currencies held gains as investors looked to a bright recovery from the COVID-19 pandemic, shrugging off diabolical forecasts and rising Sino-US tension.
Asian shares were poised to open higher on Thursday after global equities and crude prices rallied overnight on hopes of a rapid economic recovery and government support.
Administrators in charge of South African department store operator Edcon believe there is a reasonable prospect of saving the company after filing for a form of bankruptcy protection in April.
The Public Enterprises Department says the process of provisional liquidation of the South African Express must be resolved as soon as possible for the benefit of workers who are not earning salaries.
More South Africans have lost their jobs and income as a result of the COVID-19 pandemic. This is according to a survey by Stats SA called Wave 2 that looked in to the impact of COVID-19 on employment, income and hunger.
The Reserve Bank is largely expected to cut the repo rate again this week. The Monetary Policy Committee is meeting and is expected to announce its decision on Thursday.
Western Cape MEC for Finance and Economic Opportunities, David Maynier, has called on national government to urgently review the restrictions on the private construction sector, in an effort to avoid a total national collapse.
The South African Broadcasting Corporation (SABC) says it will ask government for a review of its budget for this financial year, due to an expected steep shortfall in revenue as a result of the coronavirus pandemic.
The Business Rescue Practitioners for embattled Comair, Shaun Collyer and Richard Ferguson, believe there are prospects for the airliner to be rescued. The practitioners met with creditors and employees to discuss the future of the airline.
Travel agents say they have no choice but to deny cash refunds to those who have cancelled their travel plans.
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat.