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News24Wire

ANC, ministers threatened Standard Bank to force it to keep Gupta accounts open, State capture commission hears

17th September 2018 Former mineral resources minister Mosebenzi Zwane threatened Standard Bank's operating licence and threatened to change the banking laws, all in an effort to allow the politically connected Gupta family to keep their bank accounts open. This is according to Standard Bank's former head of... 

Mabuza: 'Surgical and difficult austerity measures' may be necessary

14th September 2018 Deputy President David Mabuza said on Friday during his address to the annual Nedlac conference in Johannesburg that the state may have to implement "surgical and difficult austerity measures”. He also called on local South African companies with cash reserves to start investing in SA, saying... 

Ramaphosa assures diplomatic community that land reform will be done in an 'orderly manner'

14th September 2018 Land redistribution is necessary to correct the injustices of South Africa’s apartheid history, President Cyril Ramaphosa told the diplomatic community in Pretoria on Friday. "Parliament is considering whether Section 25 needs to be amended or not to allow for expropriation of land without... 

Rand continues to gain from Turkish rate hike

14th September 2018 The rand traded firmer against the dollar in early trade on Friday, as emerging market currencies continued to benefit from the rise on Turkish interest rates.  The Turkish central bank on Thursday raised the benchmark interest rate from 17.75% to 24%, which caused the lira to strengthen by 4%.   

Easing of water restrictions will restore international investor confidence in Cape Town

13th September 2018 The easing of the stringent water restrictions will restore international confidence in Cape Town as a destination for tourism and investment, say business leaders. But it will take hard work getting the message out there. Tim Harris, CEO of Wesgro, the agency that promotes tourism, trade and... 

PRASA commits to paying R16m for special Rail Enforcement Unit

13th September 2018 The Passenger Rail Agency of SA (PRASA) says it is fully committed to its part in the establishment of a special Rail Enforcement Unit, pledging to pay its R16-million contribution towards the deployment of an additional 100 officers. The rail agency's contribution, which it reaffirmed at a... 

Business confidence at its worst this year, marred by uncertainty

12th September 2018 Business confidence in South Africa has declined by 4.2 index points - measuring 90.5 in August compared to 94.7 in July 2018 - the lowest level this year. The South African Chamber of Commerce and Industry (Sacci) released its Business Confidence Index on Wednesday. The BCI does not reflect... 

Nene to deliver mini budget on October 24 in tough economic environment

12th September 2018 Finance Minister Nhlanhla Nene will present 2018's mini budget on October 24, Parliament announced on Wednesday.  The medium-term budget policy statement, delivered in late October about four months before the main Budget the following February - includes adjusted estimates of how much government... 

Parliament to debate recession, fuel price hikes

12th September 2018 Parliament will debate record fuel prices and ideas for economic revival on Wednesday afternoon.  Last week Stats SA announced that SA had slipped into a technical recession - defined as two successive quarters of negative economic growth - for the first time since 2009.  

'We want to know what happened' – Numsa wants in on RDM munitions blast probe

12th September 2018 The Western Cape wing of the National Union of Metalworkers of SA (Numsa) wants a full inquiry into the blast last week that killed eight people at Rheinmetall Denel Munition (RDM). "[Numsa] in the Western Cape will be writing to the Department of Labour to be part of the formal inquiry into the... 

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