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

‘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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US Farms Could Suffer as the Arctic Heats Up

  Planet Earth is getting hotter. One of the more confusing aspects of this global trend is the persistent, undeniable discomfort of winter. Even more confusing is when that chilly weather continues into April, May, or godforbidpleasenot June. This might clear the confusion (but probably not the frustration): Those colder …

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Lanzhou positions itself as new Belt and Road economic hub

  LANZHOU, China – The city of Lanzhou signed 164 investment projects totaling more than RMB 111.4-billion (R220-billion) during the 23rd Lanzhou Investment and Trade Fair that concluded on Sunday, a sign for the government of promising economic growth as the city positions itself as a key transport link and …

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