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  • Afro Worldview employees await labour court ruling

    20 September 2018 5:35 AM 41

    Former employees of Afro Worldview took the media company to the Labour Court in Johannesburg on Wednesday to challenge what they called their unlawful retrenchment. Since taking over the Gupta family’s media assets through a vendor financing facility, Mzwanele Manyi has embarked on a rebranding and transformation for the business. Judgment is expected

  • No agreement at CCMA between Solidarity and Sasol

    19 September 2018 6:00 PM 31

    Solidarity and Sasol were unable to reach an agreement at the Commission for Conciliation, Mediation and Arbitration (CCMA) on Wednesday, the union said in a statement. According to Solidarity CEO Dr Dirk Hermann, the mediation was deferred to get more clarity on the final Mining Charter’s wording. Meanwhile, Solidarity’s strike continues. According

  • PICS: Tourists fork out R960 000 for 4 nights in Clifton

    19 September 2018 5:30 AM 29

    A group of international tourists decided it is worth paying a total of R960 000 for four nights in Cape Town's high-end Atlantic Seaboard suburb of Clifton. The booking, which required two luxury homes, is a new record for the Dogon Group Properties. Denise Dogon, CEO of Dogon Group Properties, says the two villas achieved rentals of R130 000 and R110 000 respectively

  • Rand holds firm despite developments in US-China trade dispute

    18 September 2018 9:44 AM 32

    The markets will be tuned to developments in the US-China trade dispute, said an economist. The US on Monday announced that it would levy 10% tariffs on additional Chinese imports worth $200bn which will come into effect next week. These tariffs are in addition to the tariffs in place for Chinese imports worth $50bn. But the rand appears to have held firm, having

  • EXCLUSIVE: Cronin lifts veil on new draft expropriation law

    18 September 2018 5:25 AM 75

    A new expropriation bill, set to be tabled in Parliament in the next two months, will set out a clear procedure for land expropriation without compensation and ensure it is an “administratively just process”, according to Deputy Minister of Public Works Jeremy Cronin. Earlier this month a draft expropriation law was withdrawn from Parliament to make way for a new bill that will set out a system

  • Private security coins it off government

    17 September 2018 8:44 PM 60

    Minister of Finance Nhlanhla Nene told Parliament in a written reply to questions that the amount of money spent on private security services by national government, provincial government and state-owned entities ballooned from R6.1bn in the 2015-16 financial year to R7.6bn in 2017-18. Nene was responding to a question from Member of Parliament for the Economic

  • Tourist accommodation hit as cash-strapped consumers cut back on travel

    17 September 2018 6:14 PM 30

    Income from tourist accommodation decreased by 2.3% in July 2018 compared with July the previous year, figures released by Statistics South Africa on Monday showed. The data comes on the back of weak economic growth and living costs, which hampered consumers' spending patterns. Various types of accommodation establishments recorded a slump in income

  • Three-year wage deal reached at AngloGold Ashanti

    17 September 2018 1:19 PM 83

    AngloGold Ashanti [JSE:ANG] has concluded a wage agreement with three major unions, The Minerals Council said on Monday. The agreement is with the Association of Mineworkers and Construction Union (AMCU), UASA (formerly the United Association of SA) and Solidarity, and covers wages and conditions of service for the period July 1, 2018 to June 30, 2021. The three-year

  • Zim's Econet said to be in talks about restructuring

    17 September 2018 9:24 AM 29

    Econet Wireless Zimbabwe is in talks about restructuring the company, according to two people familiar with the matter. The company, which has a market value of $3.1bn, announced on Monday that it’s in talks that may affect its share price, urging stockholder caution when trading its securities. It didn’t provide further details. The talks are related

  • Rand yo-yos in early trade as emerging markets on the back foot

    17 September 2018 9:00 AM 24

    The rand had a yo-yo session in early trade on Monday morning, briefly breaking through R15/$ shortly after 09:00. Senior Dealer at TreasuryONE, Andre Botha, said emerging markets were on the back foot, with Turkey down 2%. "We are also on the back foot, with the market concerned with trade fears, and that the US will implement further trade tariffs