Business 17.8.2018 04:36 pm

Rand slips again as EFF introduces bill to nationalise Reserve Bank

An analyst says the threat to the independence of the SARB will not be viewed favourably by investors nor credit ratings agencies.

The rand slipped again on Friday and touched the 15 mark against the US dollar, the second time this week, as it continues on the slippery slope following the turmoil in Turkey that turned investors against emerging market currencies.

Rand slips again as EFF introduces bill to nationalise Reserve Bank
Rand slips again as EFF introduces bill to nationalise Reserve Bank

Rand slips again as EFF introduces bill to nationalise Reserve Bank

An analyst says the threat to the independence of the SARB will not be viewed favourably by investors nor credit ratings agencies.

Gold Fields uncertain of production guidance at ill-fated South Deep mine
Business

Gold Fields uncertain of production guidance at ill-fated South Deep mine

The operation has made losses of around R4 billion over the past five years due to rising operating and overhead costs.
Transnet CEO given notice of suspension for ‘wrongfully obtaining his MBA’ amid R38bn locomotive probe
Business

Transnet CEO given notice of suspension for ‘wrongfully obtaining his MBA’ amid R38bn locomotive probe

Siyabonga Gama and two others need to provide reasons to the board by Monday for why they should not be suspended.
We made significant progress in Marikana – Lonmin
Business

We made significant progress in Marikana – Lonmin

The company says it has invested millions in improving conditions for its workers and their families.
Workers reject latest wage offer by SA gold producers
Business

Workers reject latest wage offer by SA gold producers

Negotiations are set to continue next week as the mining companies claim they’re under financial pressure.
New mining charter is a lawsuit waiting to happen
Business

New mining charter is a lawsuit waiting to happen

It will help transformation, but could kill the patient.
Platinum group metals lift mining production in June
Business

Platinum group metals lift mining production in June

PGMs output surged 28.2 percent year-on-year, although off a very low base, contributing 5.9 percentage points to the mining production. 
Rand continues to fight back
Business

Rand continues to fight back

The currency remains weak and economists are concerned about the knock-on effect on the SA consumer with rising inflation.
Gold Fields to cut more than 1,500 jobs
Business

Gold Fields to cut more than 1,500 jobs

The gold producer has the country’s largest deposit of gold, but this has proven unprofitable to mine.
Bennett wants to report Tigon judge’s ‘irregularities’
Business

Bennett wants to report Tigon judge’s ‘irregularities’

State says the move is a ‘frivolous abuse’ of processes.
UP embraces hi-tech with competition for young entrepreneurs
Business

UP embraces hi-tech with competition for young entrepreneurs

Social application Mingle is among three startups to benefit from a new business incubator programme.
Recommended items for zero-rating will cost fiscus R4bn
Business

Recommended items for zero-rating will cost fiscus R4bn

About 70% of the relief will benefit poor households.
Landmark court case seeks to stop over-charging by creditors
Business

Landmark court case seeks to stop over-charging by creditors

Stellenbosch University Law Clinic brought justice to victims of garnishee order abuse. Now it aims to stop over-charging by creditors.
Rand briefly pummelled to below R15 to the dollar
Business

Rand briefly pummelled to below R15 to the dollar

Panic over the future of the Turkish lira has spilled in SA as emerging markets continue to struggle.
DA calls ANC ‘plan’ to save VBS an attempt at more ‘looting’
Business

DA calls ANC ‘plan’ to save VBS an attempt at more ‘looting’

The ANC’s leaders are reportedly looking at how to help the mutual bank accused of plundering millions from depositors.
Western Cape legislature concludes public hearings on draft ‘Uber Bill’
Business

Western Cape legislature concludes public hearings on draft ‘Uber Bill’

New laws seek to regulate e-hailing ride-sharing services in the province.
Baleka Mbete says she hasn’t seen ‘a cent’ from her Gold Fields ‘bribe’
Business

Baleka Mbete says she hasn’t seen ‘a cent’ from her Gold Fields ‘bribe’

The speaker of parliament, however, declared shares in the company valued at R27m in 2014.
Think the rand has it bad? Spare a thought for the lira
Business

Think the rand has it bad? Spare a thought for the lira

There are many recent lessons from Turkey on how not to manage your currency.
‘Construction mafia’ to take on Treasury over contracts
Business

‘Construction mafia’ to take on Treasury over contracts

Road construction has almost come to a standstill countrywide as business forums demand 30% of the contracts be awarded to local communities.
Rand drops below R14 to the dollar
Business

Rand drops below R14 to the dollar

One expert says we will be staring at R14.50 again very soon as the US-China trade spat continues.
Sustainability strategies are vital for SMEs
Business

Sustainability strategies are vital for SMEs

A good sustainability strategy incorporates economic, environmental and social performance goals, with each having a direct benefit for the SME.
UPDATE: Numsa to meet with Gordhan, threatens ‘massive strike’ at Eskom
Business

UPDATE: Numsa to meet with Gordhan, threatens ‘massive strike’ at Eskom

The union is unhappy about an alleged threat from Eskom of disciplinary action against its members.
5 smart money moves for the ‘slasher’ woman
Business

5 smart money moves for the ‘slasher’ woman

Managing multiple income streams presents unique challenges and risks that need to be carefully managed.
Engineering CEO keeps his job after ‘sexist’ column
Business News

Engineering CEO keeps his job after ‘sexist’ column

An advocacy group for women in engineering says the SAICE’s response highlights ‘sexism and misogyny’ in the industry.
MTN profit drops despite increase in subscribers
Business

MTN profit drops despite increase in subscribers

The company says it has 223.4 million subscribers compared to 217.2 million it had at the end of 2017.
Patrice Motsepe buys digital bank TymeDigital
Business

Patrice Motsepe buys digital bank TymeDigital

The bank aims to provide affordable and accessible banking services through a growing network of partners.

 

 

 

 

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