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Top5 on Fin24: Zuma blasted into space, and SA schools unaware of uniform guidelines

08 January 2018 2:38 PM
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Top5 on Fin24: Zuma blasted into space, and SA schools unaware of uniform guidelines

Cape Town - A roundup of Monday's must-read financial and economic news.

Most schools surveyed by the Competition Commission are unaware of the guidelines for school uniforms issued by the Department of Basic Education in 2015.

Competition spokesperson Sipho Ngwema confirmed to Fin24 by email that an announcement following the investigation, which is in an advanced stage, will be made public in the coming weeks. The investigation was launched in January 2017, in response to complaints from parents and school uniform suppliers.

Gem Diamonds has discovered two huge diamonds, each bigger than 100 carats, at its Lesotho mine.

It unearthed the 117 carat and 110 carat D color Type IIa diamonds at the Letseng mine, Gem said in a statement on Monday. Type IIa diamonds contain very little or no nitrogen atoms and are the most expensive stones.

Elon Musk’s Space Exploration Technologies Corporation (SpaceX) successfully launched its first mission of the new year: a classified payload for the US government into low-earth orbit.

The rand started the week on a steady note, opening at R12.33 to the dollar on Monday, slightly up from its previous close of R12.31/$ on Friday.

By 12:00 the rand was trading at R12.37 to the greenback. By 15:45 it was trading at R12:41/$.

Analysts expect the rand to hold firm within the R12.25/$ to R12.50/$ range ahead of ANC birthday celebrations.

Newly elected president Cyril Ramaphosa will deliver the party's annual 'January 8 Statement' at the ABSA Stadium in East London on Saturday, on behalf of the ANC's new national executive committee (NEC).

It is questionable why the board of the SABC has not placed the state-owned broadcaster under voluntary business rescue yet, according to Advocate Paul Hoffman SC, the director of Accountability Now.

The Companies Act permits a board to do this if it has reasonable grounds to believe a company is "financially distressed".

The aim of Accountability Now - a non-profit organisation with Archbishop Emeritus Desmond Tutu as patron - is to ensure that the rule of law is enforced by holding governments, parastatals and the private sector to account.


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