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

#FeesMustFall calls for protest at Parliament

The #FeesMustFall movement issued a call in the early hours of Wednesday for protest action at Parliament where Finance Minister Pravin Gordhan was set to table the Medium-Term Budget Policy Statement (MTBPS). “We call upon all citizens of this country to descend to parliament and other strategic institutions on 26 …

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Dis-Chem Pharmacies plans to list on JSE

Dis-Chem Pharmacies on Monday announced its intention to list on the main board of the Johannesburg Stock Exchange. The company, which sells pharmaceuticals and a wide range of household goods and health and beauty products, said the proposed listing was subject to market conditions and JSE approval. Dis-Chem, which has …

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MTN credit rating follows Nigeria’s downwards

MTN said on Monday that Standard & Poor’s had lowered the group’s credit ratings in the wake of its September 16 downgrade of Nigeria’s sovereign rating. “The sovereign downgrade reflects increased risk for MTN Group as MTN Nigeria is a significant contributor to the group,” MTN said. – Africa News …

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Zuma congratulates South Africans on economy growth

President Jacob Zuma on Tuesday congratulated the South African government, business and labour after the announcement by Statistics SA (Stats SA) that the economy grew by a seasonally adjusted 3.3 percent in the second quarter. The growth was more than the 2.7 percent quarter which was predicted economists. Stats SA …

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New Durban floating dock launched

Trade and Industry Minister Rob Davies has launched a more than R290 million composite floating dock at the Dormac ship-repair facility in the Port of Durban, the trade and industry department (dti) said on Sunday. The project would created more than 300 jobs, the dti said in a statement. Speaking …

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Woolies to spend up to R2.1bn on Sydney superstore

Woolworths on Monday outlined plans to spend up to R2.1 billion on a “world-class” 39,000 sq m department store on 11 levels for its Australian subsidiary David Jones. The South African retail group said it had sold its Market Street property in Sydney to Australia’s Scentre Group for A$360 million …

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Eskom warns public of a bank scam

Eskom on Friday warned the public about a scam where criminals were pretending to be the utility’s representatives, claiming that Eskom had changed its banking account to Nedbank and subsequently providing those banking details. “The fraudsters use letters, faxes and emails bearing the Eskom logo and the forged signature of …

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Restructuring boosts Afrox by up to 109%

African Oxygen (Afrox) said on Tuesday that it expected headline earnings per share for the six months to the end of June to be up to 109 percent higher than the comparable period last year. A statement from the company that provides welding, cutting and gas products and services in …

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