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SA, UK meet to iron out trade relations post-Brexit

JOHANNESBURG – South African and UK officials met to strengthen trade relations post-Brexit. The meeting between Minister of Trade and Industry Rob Davies and the UK’s Minister for International Trade, Liam Fox, is a continuation of high-level engagements. Davies said the UK remains a key partner. The UK has invested …

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Mzwanele Manyi to name Lodilox shareholders

The owner of Lodidox, Mzwanele Manyi, is expected to reveal details about the company’s shareholders on Wednesday.  This comes after TimesLive media sent a legal letter, demanding to know the shareholders’ identities. .@MzwaneleManyi to make a public announcement re the shareholding of Lodidox, the company owning TNA/ANN7, on Wednesday. — …

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Basil Read tries to improve liquidity

 Construction company, Basil Read’s planning to raise up to R300-million to improve its liquidity. The struggling firm’s using the plan to bring stability and fund its operations. Basil Read reported a drop in revenue from R2.5-billion last year to R2.3-billion this year. The company’s operating loss was R458-million for the …

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‘Eskom execs should pay back the bonus’

Recent exposés about fraud and corruption at Eskom should trigger a so-called gatekeeper clause that would see long-term bonuses reduced or even forfeited, says PFMA expert Advocate Ivan Herselman. Recent reports about corruption in the previous financial year should see them pay back bonuses that were awarded without knowledge of …

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Taxpayers get penalty surprises

 Several taxpayers have complained about receiving penalties for being non-compliant in the submission of tax returns for prior tax years. The penalties ranging between R500 and R2 000 have been issued mainly for the non-submission of returns, despite taxpayers claiming that they were not required to file tax returns. The …

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Mining Charter has already wiped out R50bn

 The proposed 2017 Mining Charter has already wiped out R50 billion of the market value of shares in listed mining companies in South Africa and could destroy the industry altogether, the Chamber of Mines has contended in court papers. The chamber’s urgent application to stop the implementation of the charter …

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Eskom denies allegations that it is broke

 Electricity parastatal Eskom on Sunday denied media reports that the state-owned company (SOC) is facing a cash crisis. Eskom had noted weekend media reports concerning its financial sustainability, it said in a statement. “Due to limitations around disclosing financial information before the official announcement which is scheduled for Wednesday, Eskom is …

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