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18:48 Top 5 on Fin24: Coming soon to your ATM: Commemorative Randelas, how VBS allegedly dealt with ‘R1.5bn fraud’ and SA business remains unreformed

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19:31 Top 5 on Fin24: How SA's broadband speed really stacks up against other countries, ABSA reboots image and SA's saving habits

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  • Salaries not keeping up with medical aid increases

    20 July 2018 7:58 AM 26

    Medical aid increases have not been keeping pace with salary raises, according to the eights GTC Medical Aid Survey. The financial services company, formerly Grant Thornton Capital, publishes the annual survey to assist its own consultants, financial planners and medical aid members to decide on the best plan to suit their pocket and needs. "The effect

  • Chinese President Xi to visit South Africa ahead of Brics Summit

    20 July 2018 4:45 AM 26

    The President of the People's Republic of China Xi Jinping will next week arrive in South Africa on an official state visit ahead of the Brics Summit. The visit, on July 24, is aimed at strengthening economic ties between the two countries, and will be Xi’s third trip to the country since he took office. "Xi will be in the country as part of his official

  • Clouds lift for SAP as it raises full-year forecasts

    19 July 2018 6:33 PM 24

    German software firm SAP raised its revenue forecasts for the full year on Thursday, after sales of its cloud computing products and its bottom line swelled in the second quarter. The Walldorf-based firm reported net profits of €720m between April and June, up 8.0% year-on-year. Operating, or underlying profits grew 13%, to €1.04bn, on the back of revenues

  • JSE closes firmer after flat trading session

    18 July 2018 4:45 PM 30

    The local bourse struggled to find a significant catalyst for direction as it swung marginally between gains and losses. Locally, Statistics SA released inflation numbers for the month of June. Consumer Price Index (CPI) year-on-year climbed up to 4.6% from a prior recording 4.4%, while CPI month-on-month increased to 0.4% from a prior recorded level

  • Retail trade sales, inflation mean SARB likely to keep rates steady

    18 July 2018 2:18 PM 27

    Weak retail sales data released by Statistics SA on Wednesday, plus a better-than-expected inflation rate in June, supports the view that the SA Reserve Bank (SARB) will likely opt to keep interest rates unchanged on Thursday, said FNB senior economic analyst Jason Muscat. May real retail trade sales – in terms of constant 2015 prices – expanded 1.9% y/y and 1.1% m/m. This is something

  • Treasury, SARS call for comment on tax law amendments

    18 July 2018 1:58 PM 24

    National Treasury and the South African Revenue Service (SARS) are giving South Africans until the middle of August to submit written comments on the newly published Taxation Laws Amendment Bill and the Tax Administration Laws Amendment Bill. The two draft laws, which were released in February during the budget review, seek to introduce tax reforms which

  • National Treasury laments poor action over tender deviations

    18 July 2018 11:52 AM 24

    National Treasury has raised concerns over poor accountability for officials who abuse the public procurement system through deviations from tender processes without approval, saying the practice is rife in state-owned enterprises. Procurement through deviation is legally allowed in cases where it would be impractical to invite competitive bids. The process

  • Free State municipalities avert Eskom power cuts with payment deals

    17 July 2018 7:57 PM 25

    Eskom will keep the lights on at three Free State municipalities which have made new payment agreements with the power utility. Speaking to Fin24 by phone on Tuesday afternoon Eksom spokesperson Khulu Phasiwe said that that the municipalities Masilonyana and Nala had both reached payment agreements with Eskom. Later in the evening, he notified Fin24 that Tokologo

  • Bezos 'will be trillionaire by 2030'

    16 July 2018 8:30 PM 46

    The world's wealthiest people collectively hold a $63.5trn fortune and are on track to exceed $100trn by 2025, according to a new analysis. Meanwhile, Amazon CEO Jeff Bezos – who became the first centi-billionaire earlier this year – is in the lead in the race to become the first trillionaire, too. Electronics and tool distributor RS Components has analysed

  • IMF: Nigeria, South Africa set to boost sub-Saharan Africa’s economy

    16 July 2018 6:00 PM 37

    The International Monetary Fund (IMF) has revised the growth rate of sub-Saharan Africa’s economy to 3.8% for 2019, up from April’s growth projection of 3.7%. In its latest World Economic Outlook Update released on Monday, the IMF said the upwardly revised growth is supported by the rise in commodity prices. The IMF expects the South African economy