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13:28 Most exclusive penthouses up for grabs in SA

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  • Tesla says inattentive driver to blame for fatal Model X crash

    12 April 2018 5:04 AM 33

    San Francisco - Tesla again placed blame for a fatal crash involving a Model X last month on the driver, hours after the man’s family hired a firm to explore legal options. The March 23 crash involving Walter Huang, 38, happened on a clear day with several hundred feet of visibility ahead, the electric-car maker said in an emailed statement. “The only way for this accident

  • Steinhoff freeing up 200 million shares in STAR to refinance its debt

    11 April 2018 4:50 PM 31

    Cape Town – As part of efforts to refinance its debt, Steinhoff [JSE: SNH] will sell off 200 million of its shares in Steinhoff Africa Retail (STAR). This is 6% of its stake in the company. According to a notice issued to shareholders on Wednesday afternoon when markets closed, the decision is in line with intentions that were announced in a quarterly

  • Most exclusive penthouses up for grabs in SA

    11 April 2018 1:28 PM 132

    Cape Town - Penthouse living is synonymous with the rich and famous and Cape Town’s Atlantic Seaboard illustrates this trend, according to Ian Slot, managing director of Seeff Atlantic Seaboard, Waterfront and City Bowl. "While the sky is the limit in terms of what celebrities and high net-worth individuals will pay for the perfect penthouse, South African

  • MTN Nigeria expects to list by year-end

    11 April 2018 4:31 AM 51

    Lagos - MTN expects the listing of its Nigerian unit on the Lagos stock exchange to be done by the end of 2018, its CEO has said, after suggesting in November that the process would be concluded by mid-year. “We are progressing very well with the Nigerian listing and if market conditions are appropriate, we will conclude that by the end of the year,” Rob Shuter

  • Standard Bank eyes West Africa growth

    11 April 2018 3:15 AM 34

    Abidjan - Standard Bank is seeking a banking license in Senegal after opening in Ivory Coast as the lender expands in West Africa’s French-speaking countries. Africa’s largest lender, which opened in the world’s biggest cocoa producer on Monday, will focus on corporate and investment banking clients after obtaining the license in 2016, Sola David-Borha

  • Investment: Here are the top-selling SA artists

    10 April 2018 1:28 PM 30

    Cape Town - African art accounts for about $1bn (about R12bn) of the total global top-end art market valued at about $75bn, according to the South Africa 2018 Wealth Report released by AfrAsia Bank and New World Wealth last week. About $450m (about R5.5bn) of the top-end African art is held in South Africa. Analyses for the report estimate that South

  • JUST IN: SA appoints head of regional BRICS bank

    10 April 2018 8:17 AM 24

    Cape Town - National Treasury on Tuesday announced it has appointed the head of the BRICS New Development Bank for the African Regional Centre. Monale Ratsoma, deputy director general of Treasury’s economic policy department, will lead the regional arm of the bank. His appointment is with effect from April 16, Treasury said in a statement. “Mr Ratsoma’s

  • Saftu submits first parliamentary objection to minimum wage

    09 April 2018 1:19 PM 26

    Cape Town - The parliamentary committee on labour has accepted the submission by the South African Federation of Trade Unions (Saftu) on both the minimum wage and proposed amendments to the labour laws. The minimum wage was initially supposed to be introduced on May 1. However, this has been delayed. It is understood that a number of labour and human

  • Declare cryptocurrencies on your tax returns, says SARS

    09 April 2018 11:20 AM 25

    South Africans who own cryptocurrencies such as Bitcoin, Litecoin, Ethereum of any of the hundreds of others need to declare gains or losses on their tax returns, according to the SA Revenue Service. “The onus is on taxpayers to declare all cryptocurrency-related taxable income in the tax year in which it is received or accrued. Failure to do so could

  • US insurance company drops case against Old Mutual

    09 April 2018 11:06 AM 65

    Cape Town – US insurance company Travelers and its subsidiary has dropped a court case against Old Mutual [JSE:OML]. According to a notice to shareholders, issued on Monday morning, Travelers had "withdrawn all of the remedies they were claiming". Old Mutual has maintained that there was no merit to the case. In a notice issued on March 13, Old Mutual