Saturday , August 19 2017
Home / Business (page 30)

Business

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

DA slams Energy minister over PetroSA R14.9bn loss

Energy Minister Tina Joemat-Pettersson should return to South Africa immediately to answer for PetroSA’s R14.9bn loss, said the Democratic Alliance (DA) on Thursday. The scale of the state-owned petroleum company’s loss was made public for the first time in court documents, which reveals what its loss will be when it …

Read More »

Cosatu has been stolen by the state – Vavi unions

Unions loyal to expelled Cosatu general secretary Zwelinzima Vavi have slammed a “rigged” congress, said Cosatu was “dead” and announced plans to hold its own Workers Summit to rebuild the workers’ movement. The Special National Congress (SNC) held on 13 and 14 July 2015 “was rigged by the federation’s leadership …

Read More »

SA online marketers ‘stuck in the past’

Many South Africa marketing executives are ignorant or intimidated about how online advertising provides detailed data of an audience – so, they stick with outmoded methods, says an industry insider. “I believe it’s the ‘tried and tested’ versus the ‘new and unknown’. A lot of the digital channels are relatively …

Read More »

City Power pleads with residents not to panic

City Power said it is pleading with residents in its area of supply not to panic when they experience recurrent disconnections. “City Power has started to roll out a solution called load limiting in its areas of supply in Johannesburg and households have been advised to reduce their consumption by …

Read More »

Increasing worry about market downturn – expert

There seems to be increasing speculation among analysts that a market downturn should be expected, Nigel Green, founder and CEO of the international financial advisory organisation deVere Group, warned on Friday. Green said deVere – which has $10bn (about R123bn) under advice – remains vigilant about possible market corrections after …

Read More »

Kumba in talks to close mine, 1 200 jobs at stake

Almost 1 200 mineworkers could lose their jobs, after Kumba Iron Ore [JSE:KIO] announced on Thursday that it had started a consultation process to close its Thabazimbi mine in Limpopo Province. “The closure of the mine will impact approximately 800 employees and 360 contractors,” Kumba said in a statement. “These …

Read More »

African Bank restructuring delayed

The completion of the proposed restructuring process of African Bank will likely be delayed, the curator, Tom Winterboer, announced on Wednesday. This is because the release of an information memorandum about the restructuring of African Bank will be delayed, consequently likely delaying the target completion date as well. The curator …

Read More »

Mining industry will overcome difficult times, says Motsepe

South Africa can overcome its mining industry challenges, as long as global shareholders look at it as a competitive and a good industry to invest in, according to African Rainbow Minerals executive chairperson Patrice Motsepe. Speaking on CNN Marketplace Africa, Motsepe said the mining industry has experienced greater challenges in …

Read More »

Eskom implements stage 1 load shedding

Eskom has announced that it will implement stage 1 load shedding from 08:30 on Friday, which is likely to continue until 22:00. This is due to increased electricity demand and a shortage of generation capacity resulting from technical faults at some of its power station units, said the power utility. …

Read More »

Savings culture can boost your business – expert

The development of a savings culture is not only appropriate for individuals, but for businesses too, a financial expert said. With July being Savings Month, it was right that South Africans begin to develop a culture of savings, according to Elize Giese, head of liabilities at FNB Business. “Many small- …

Read More »