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Get the latest Business and Financial news in South Africa as it happens.

SA banks rated strongest in the world

International banking advisory group Lafferty has rated South African banks as the strongest globally. Lafferty ranked 100 major banks in 32 countries for long-term stability and quality of service in corporate and retail banking. The group said sovereign downgrades that recently plunged South Africa into junk status haven’t affected the …

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Zimbabwe’s unemployment rate at 90 percent: union

Zimbabwe’s largest workers union, the  Zimbabwe Congress of Trade Unions says the country’s unemployment rate is now at 90-percent. The unions said a change of leadership is the only solution to the country’s economic crisis. Addressing the workers day celebrations in Harare, Zimbabwe’s main opposition leader Morgan Tsvangirai said President …

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Government studying Prasa court judgment

The Transport Department says it’s yet to decide on the court ruling setting aside a decision to dissolve the Prasa board. Spokesman Ishmael Mnisi said the department will determine what their next move will be. “However, it’s content and it’s decision as it stands is welcomed by the department,” said …

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LSE says Deutsche Boerse merger in doubt

The London Stock Exchange on Sunday said it is “highly unlikely” it will be able to meet antitrust conditions set by Brussels for its tie-up with Deutsche Boerse, throwing the merger into doubt. The announcement by LSE, which also operates the Milan stock exchange, is the latest twist in its …

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SAA, Post Office in line for funds

Finance Minister Pravin Gordhan has promised a capital injection to South African Airways (SAA) and the Post Office, but is yet to say how much and where the money will come from. Speaking at a media briefing before delivering his budget speech on Wednesday, Gordhan said SAA had strong prospects …

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Kraft Heinz withdraws bid for Unilever

The US food giant Kraft Heinz has dropped its bid to buy Unilever days after it rejected a $143 billion buyout offer, the companies said on Sunday. Kraft Heinz had signaled on Friday that it would press ahead with its campaign after the British-Dutch consumer products manufacturer said the initial …

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Gordhan takes next step in Gupta saga

The fight continues between the Finance Minister and the Gupta family on Friday. Pravin Gordhan is expected to file his replying affidavit in the North Gauteng High Court. This comes after the Gupta family’s responding affidavit last week to Gordhan’s 2016 application. Last year Gordhan brought an application to court …

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