October 17, 2017

SowetanLive Business News



SowetanLive Business News

Business – Breaking SA and World News, Sports, Entertainment and more –

PIC willing to invest in SOEs that 'meet right criteria'

The Public Investment Corporation (PIC) would consider investing in state owned enterprises such as South African Airways (SAA) if they met its investment criteria‚ its CEO Dan Matjila told parliament earlier today.

Transnet hard at work to restore order at port after KZN storm

State-owned freight and logistics company Transnet has put in place “business continuity” plans for all three operation divisions affected by this week’s severe storms in KwaZulu-Natal.

Surprisingly strong growth in mining industry

Mining surprised on the upside in August with exceptionally strong growth‚ indicating that GDP growth may be stronger in the third quarter.

Bonds little changed despite stronger rand

South African bonds were flat on Wednesday afternoon as the market awaited the US Federal Reserve meeting minutes due out in the evening‚ which may give further clues on possible interest-rate increases in the US later this year and next year.

Gaming a multi-million dollar industry

What does it take to become a full-time video game player in South Africa? Probably living with your parents.

Doubada fills gap in university market

Mpodumo Doubada's love for business saw him grow as an entrepreneur, from printing T-shirts to making pocket money during his school days to owning six second-hand book stores at universities.

Japan steel scandal grows as more carmakers hit

 Top Japanese automakers said Wednesday they were scrambling to assess their vehicles that used products from Kobe Steel, which has admitted to falsifying quality data in a growing scandal.

Bonds slightly firmer but remain under pressure

South African bonds were slightly firmer on Tuesday morning‚ taking their cue from the rand‚ which has regained some of the ground lost to the dollar recently.

JSE takes a breather after record run

The JSE opened flat on Tuesday as the market took a breather following four successive record sessions with retailers‚ banks and property stocks leading at the opening and resources lagging.

Elliott tours BHP investors in renewed push for radical shake-up -sources

Activist investor Elliott has embarked on an international tour of BHP Billiton’s biggest shareholders as it presses ahead with its campaign to force a radical shake-up of the FTSE 100 mining giant, sources familiar with the matter told Reuters.

Brazil revives African ties, eyes expanding market

Agricultural powerhouse Brazil aims to revive ties with Africa after a lull and sees a vast export market for food and manufactured goods in a continent whose population is surging, its foreign minister said.

Nigeria state oil firm denies minister’s allegation of poor transparency

Nigeria’s state oil company on Monday said allegations by the oil minister that the conduct of its group managing director lacked transparency were baseless, as a public rift between the firm and the ministry widened.

JSE all share opens week in record territory in quiet trade on US holiday

The JSE all share opened firmer on Monday in record territory‚ following upbeat global markets‚ with gold shares strongly up as the dollar paused on mixed US data released on Friday.

Rand little changed as it tracks world markets

The rand was little changed on Monday morning and the trading pattern was unlikely to change drastically because of a partial public holiday in the US.

Petra Diamonds says likely to breach key bank loan condition

Petra Diamonds Ltd said on Monday it was likely to breach a key condition of its banking agreements due to labour disruption at is South African operations and uncertainty around sales volumes in Tanzania.

Eskom wants R1.6bn repaid by Tuesday

Eskom has demanded that Gupta-linked Trillian and global consultancy McKinsey pay back the R1.6bn they received from an unlawful consultancy contract by Tuesday and warned of possible charges.

Numsa strike at Hillside Aluminium smelter ends

South32 on Friday said it had reached an agreement with the National Union of Metalworkers of South Africa (Numsa) regarding wages for employees at the Hillside Aluminium smelter.

BMW reacts to NCR compliance notice

BMW Financial Services on Friday said it “disagrees with and disputes” the contents of the compliance notice issued by the National Credit Regulator‚ which states that the on-the-road fee of between R3000 and R6000 which the credit provider adds to its customers’ credit agreements is illegal in terms of the National Credit Act and must be refunded.

HP's OMEN laptop, a force in the gaming world

Hewlett-Packard (HP) has unleashed a beast with their new 7th Generation Intel Core i7 processor OMEN gaming laptop equipped with powerful hardware and a futuristic design.

Nissan suspected of forging inspection documents: reports

Nissan factories routinely forged inspection documents for new vehicles, reports said Wednesday, as a scandal mounted around Japan’s second-biggest carmaker that has already been hit with a costly recall.

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