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SA to get shock fuel price increase

JOHANNESBURG - FUEL  prices may jump by as much as two Rand a litre at the beginning of April, warns the Automobile Association’after the Central Energy Fund’s preliminary mid-month data showed that South African motorists are set to be battered by high international petroleum prices and the Rand’s continuing decline against the US dollar. “The Rand has lost nearly ten percent ... Read More »

Mukuru launches SA to Botswana money transfer service

CAPE TOWN - Mukuru has launched money transfers from South Africa to Botswana, entering a  corridor, which has been traditionally dominated by South African banks ”Senders had to pay high transfer costs and recipients had also had to wait days before the money was available to them,” says Mukuru  marketing manager Michael Cook. Cook says Mukuru’s service is ” simple, quick ... Read More »

Thousands of Gauteng shebeens face closure

JOHANNESBURG – THOUSANDS  of shebeens across Gauteng face closure being  if they don’t verify the details of their trading licences by the end of next month. Shebeens play an essential role in South Africa’s economy, raking in millions in both the formal and informal economies. But nearly 10 000 of these establishments  could be forced to close shop if they ... Read More »

Driving in Zim to cost more as govt increases number of tollgates

  BULAWAYO -Zimbabwe’s transport minister says he has “no choice” but to more than double the number of tollgates on the country’s dilapidated roads, state media reported on Thursday. Obert Mpofu said that repairing Zimbabwe’s roads network “requires money that Treasury doesn’t have”, the state-owned Chronicle newspaper reported from Bulawayo. Mpofu, a former mines minister, told a workshop in Bulawayo ... Read More »

Business confidence in SA increases

JOHANNESBURG – THE SA Chamber of Commerce and Industry (Sacci)’s Business Confidence Index (BCI) rose by 3.5 index points to 92.8 in February from 89.3 in January, it said  this week. “Rather than broad-based, the marked increase of the BCI can be ascribed to more specific developments,” the SA Chamber of Commerce and Industry (Sacci) said in a statement. “Whether ... Read More »

Pain at the fuel pump as prices increase next week

JOHANNESBURG – THE price of petrol, diesel, paraffin and liquefied petroleum gas (LPG) will increase next week, the energy department  has said . The increase would come into effect on Wednesday. Petrol would go up by 96 cents, diesel by 74 cents, paraffin by 73 cents and LPG by R1.54. “The main reason for the fuel price increases is the ... Read More »

RBZ relaxes forex regulations as Diaspora remittances rise

HARARE – Zimbabwe received $US840 million last year from the Diaspora compared to $US790 million in 2013, boosting the country’s income while the central bank has relaxed laws governing foreign currency dealers. In his monetary policy statement on Wednesday, central bank governor John Mangudya announced new foreign exchange regulations aimed at boosting Diaspora revenue would come into effect from April ... Read More »

Too early to celebrate drop in SA unemployment rate warns COSATU

JOHANNESBURG  - IT IS too early to celebrate the drop in South Africa’s unemployment rate in the fourth quarter of 2014, Cosatu said on Tuesday although it said it  was  happy  to hear about the drop of unemployment  –  from  25.4% to  24.3 %, in the third quarter of 2014 “While any reduction in the number without work is welcome, the ... Read More »

Chinese foreign trade falls

CHINA’S foreign trade tumbled 10.8 per cent in January to 2.09 trillion yuan (296 billion euros), the government said Sunday. Imports plunged 19.7 per cent to 860 billion yuan (122 billion euros) year-on-year in January, after a dip of 2.4 per cent in December, the General Administration of Customs announced. Exports declined 3.2 per cent to 1.23 trillion yuan, compared ... Read More »

Edgars SA to retrench workers

Edgars at a Soweto Shopping Centre PHOTO:Reuters

JOHANNESBURG -SOUTH African retailer Edcon launched a cost-cutting plan that may include jobs cuts, it said on February 3, 2015 as the debt-burdened company tries to save money to pay down debt. “This process may result in a reduction of headcount within Edcon’s head office. We cannot confirm numbers as yet,” the company said in statement. -Reuters   Read More »

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