Eskom has announced that its coal reserves are dangerously low and at least 10 of their power stations are expected to last 10 more days on the current supply. The public enterprise’s reserves will only be able to provide coal for between 10 to 21 more days.
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
JOHANNESBURG - South Africa’s rand gained early on Tuesday as broad dollar weakness supported investor appetite for riskier assets after Washington imposing additional tariffs on Chinese imports.
JOHANNESBURG – AngloGold Ashanti yesterday agreed to a three-year wage settlement and a new shift arrangement that will see entry-level employees earn R1 000 more a year in the third year – a deal labelled by unions as historic.
Sars has issued a media release for South African resident travellers returning to South Africa with personal effects such as laptops, iPads, cell phones, golf clubs, cameras and/or other personal valuables. Sars is attempting to clarify what they quaintly refer to as “confusion in the media” in regard to the SA resident who recently had to pay R1 500 at customs for his laptop, when he couldn’t produce proof of purchase.
A new expropriation bill, set to be tabled in Parliament in the next two months, will set out a clear procedure for land expropriation without compensation and ensure it is an “administratively just process”, according to Deputy Minister of Public Works Jeremy Cronin.
CAPE TOWN - Finance Minister Nhlanhla Nene has extended the term of acting South African Revenue Service (Sars) commissioner Mark Kingon for a further 90 days.
JOHANNESBURG - Durban, Cape Town and Johannesburg are three of Africa’s six wealthiest cities according to a new report by New World Wealth and AfrAsia Bank in Mauritius.