Business News 24.8.2019 08:45 am
Believe it or not, SA local assets still coming out tops
Global bonds have once again deteriorated.
The global macroeconomic environment is treacherous at the moment. The shift to populism and the resultant risks have brought politics front and centre. This is inherently unpredictable. At the same time, extreme monetary policy action has de-emphasised the standard cycle. In this world, it is prudent to focus more on valuation (price) and to hold macro views lightly, while focusing on building portfolios that are well diversified.
Business News New cruise terminal to boost tourism, jobs in SA
Geneva-based MSC is in a joint venture to develop a R200m port project in Durban.
Business News CPI eased to 4% in July from 4.5% in June
Stats SA says a fall in fuel prices and increases in municipal tariffs were the key price drivers during the month of July.
Business News The good, the bad and the ugly: Share performances on the JSE over the past year
The worst of the bunch was not Steinhoff, but Tongaat Hulett, whose share price declined by 84% during the 12 months, from around R83 to only R13.
Rising dam levels in Cape Town to keep tourism and agriculture afloat
Agriculture, tourism and property sectors were hit particularly badly by the region’s worst drought in 100 years, and government and the tourism sector now need to get the message out.
Business News Taxi industry turns to gas as high petrol prices bite
Gauteng alone already has 10 gas filling stations as taxi operators flock to the cheaper, cleaner and more reliable alternative to petrol.
Business News New Aarto system threatens insurance industry
The suspension of a motorist’s license is likely to increase their insurance premiums or excess
Business News Jooste rejects Steinhoff’s ‘vague and embarrassing’ bid to recoup R850m
The former CEO fought back against the retailer’s attempts to get him to give back salaries and bonuses paid to him since 2009.
Business News ‘Debt relief’ Bill poses more risks than gains – expert
It could make getting loans harder for those who qualify, and also risks the ire of international credit ratings agencies as uncertainty would increase.
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Business News Sasol silently upping greenhouse gas emissions without being noticed
The company has never met its own emissions targets, and shareholders don’t seem to have realised, with some even applauding Sasol’s environmental policies.
Business News NUM rejects wage cuts as plan to save Kimberley Ekapa Mine
Mine management confirmed all reductions would be reimbursed if the new business model was successful.
Business News SA, Tanzania pledge to increase trade and investment
A total of 208 South African businesses are operating in Tanzania, employing about 21,000 people.
Business News Steinhoff corporate fraud beyond what anyone envisaged, inquiry hears
What happened at the company is now ‘widely understood to be the biggest corporate fraud in South African history’.
Business News Robben Island price-fixing case against ferry operators dismissed
The Commission reached settlements with three of the ferry boat operators in June 2018.
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