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Chinamasa budget cuts down on govt expenditure

December 08 2017 ‑ FINANCE and Economic Development Minister, Patrick Chinamasa, on Thursday, said he would cut government expenses in the new year in line with efforts to grown the country’s economy and streamline costs. Presenting the US$5.743 billion 2018 national budget in Parliament, Chinamasa said government was working on a raft of changes, among them retiring people in the ... Read More »

Bird flu to increase price of SA eggs

December 7 2017 – THE price of eggs is set to increase further after a significant jump in the past few months, owing to the outbreak of the Avian Influenza during 2017, says FNB. The bank’s senior agricultural economist at FNB Business, Paul Makube, says that the impact of bird flu on South Africa’s consumer was likely to see egg ... Read More »

SA business confidence goes up

December 6 2017 – BUSINESS confidence in South Africa was up slightly in November, reflecting an anticipation of more conducive economic conditions, a survey showed on Wednesday (today) . The South African Chamber of Business and Commerce (SACCI) said its monthly business confidence index rose to 95.1 in November from 92.9 in October. South African businesses had taken heart from ... Read More »

Heineken begins construction of Mozambican brewery

December 4 2017 – INTERNATIONAL brewer Heineken Holding on (today) Monday laid the foundation stone of its first brewery in Mozambique, a $100 million investment which incorporates the latest technologies. Located in the province of Maputo, between the Marracuene and Manhiça districts, the brewery will have a production capacity of 0.8 million hectoliters and will brew high quality beers for ... Read More »

SA records trade surplus

November 30 2017 – SA recorded a trade surplus of of R4.56 billion in October, after a surplus of R4.48 billion rand in the previous month, the revenue service said on Thursday. The South African Revenue Service (SARS) said the surplus was a result of export receipts of R104.51 billion against imports of R99.95 billion. “Exports increased from September 2017 ... Read More »

Medical aid fraud rises

November 20 2017 – MEDICAL aid societies are incurring huge losses through fraud, a phenomenon blamed on the lack of specific laws designed to deal with healthcare fraud in the country. In discussions and presentations at the Healthcare Fraud Indaba in Harare on Thursday it was noted that medical aid societies were incurring huge losses through fraud. There was general ... Read More »

SA and DRC to remove trade barriers

November 11 2017 – SA and the Democratic Republic of Congo (DRC) have committed to remove hurdles that hinder business interactions between business people of the two countries, the trade and industry department (dti) said on Saturday. The agreement and commitment emanated from discussions held during this week’s Investment and Trade Initiative (ITI) seminar, organised by the dti and hosted ... Read More »

India lauds rupee swap, even as economy slows

Nov 8 2017 – INDIAN officials extolled last year’s shock ban on high denomination bank notes as a success on Wednesday, while opponents staged protests and Nepal said its citizens were still stuck with billions of rupees in old money. Prime Minister Narendra Modi withdrew 500 ($7.5) and 1 000 rupee ($15) notes from circulation on Nov. 8 last year ... Read More »

Mr Price doing things right

November 8 2017 – SA clothing retailer Mr Price Group has been praised for turning around its fortunes in a short space of time after losing its market share last year, says FNB Secuirities’s head of research, Chantal Marx adding that the group’s strategy was paying off with good returns. This comes after Mr Price on Tuesday said that it ... Read More »

DA pushes for better Gautrain subsidy deal

November 5 2017 – TAXPAYERS will, over and above the R30 billion Gautrain construction price tag, have paid well over R50 billion for this service if current subsidy levels continue, the Democratic Alliance said on Sunday. The current Gautrain subsidy was the largest single item of expenditure in the budget of the Gauteng roads and transport department, making up roughly ... Read More »

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