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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... 

Guptas' flagship Oakbay faces liquidation application over R2m unpaid rent

11th September 2018 Business rescue practitioners appointed to save a Gupta business have filed an application for the liquidation of the Gupta's flagship company, Oakbay Investments, as a result of its failure to pay rent to another Gupta-owned company, Tegeta. In court papers filed in the Johannesburg High Court... 

State capture inquiry postponed 'until further notice'

11th September 2018 The judicial commission of inquiry into state capture has been postponed until further notice, it announced on Tuesday. The hearings were expected to resume on Wednesday with the testimony of former minister of public enterprises Barbara Hogan. The commission's chair, Deputy Chief Justice Raymond... 

Water Research Commission urges SA to 'get in first' and develop the iceberg project

11th September 2018 The Water Research Commission believes that within 20 years, countries will be towing icebergs from the Antarctic to supplement their water supplies. It also believes if South Africa does not get in first, the country will lose out to other countries in developing the new technology - as it had... 

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