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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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Business

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  • JSE closes firmer after flat trading session

    18 July 2018 4:45 PM 82

    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 30

    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 26

    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 27

    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 78

    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 106

    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 94

    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

  • Amplats sees profit jump after operations, prices improve

    16 July 2018 2:27 PM 26

    Anglo American Platinum [JSE:AMS] has said it expects to report a fourfold increase in first-half profit after operations improved and metal prices rose. The world’s biggest platinum miner’s so-called headline earnings, which exclude some once-off items, are likely to be between R3.28bn and R3.42bn, the Johannesburg-based company said in a statement

  • Media24 and HuffPost to end SA partnership

    16 July 2018 1:17 PM 102

    Media24 and HuffPost announced on Monday that they are mutually ending their partnership in South Africa. “We regularly review our portfolio of brands. The HuffPost SA audience numbers are strong and consistently hold steady on the list of top-10 news sites in South Africa,” Media24 CEO Esmaré Weideman said in a statement. “HuffPost SA was an important

  • Jo'burg second-most expensive for millennial lifestyle

    15 July 2018 1:29 PM 94

    Johannesburg came out as second-most expensive for the millennial lifestyle in 2018 among 11 cities in the world ranked by Swiss investment bank and financial services company UBS. The study compared how much a "typical millennial shopping basket" costs around the world. The 11 cities in the study are Johannesburg, New York, Paris, London, Zurich, Dubai