Category: Business

Johannesburg – Airports Company South Africa (ACSA) is expected to outline the challenges of jet fuel concerns at OR Tambo International Airport amid concerns of a shortage. Transporting fuel from KwaZulu-Natal reached crisis point because of extensive damage to transport infrastructure in the wake of floods. Government had assured that the issue has been resolved. […]

Johannesburg – Minister of Mineral Resources and Energy, Gwede Mantashe has been called to come and mediate in the high-level meeting that is taking place. This is an effort to end the impasse between workers and management at Sibanye-Stillwater. The strike is currently in its third months. Workers affiliated to NUM and AMCU have downed […]

Uber shares skidded on Wednesday after the company said it was hit with a big loss in the first three months of this year despite a rebound in its ride-share business. Quarterly revenue at Uber’s rides unit nearly tripled year on year to $2.5 billion, topping the sum taken in from its food-delivery service for […]

British energy giant BP plunged into a huge net loss in the first quarter after it decided to exit Russia over the country’s invasion of neighbour Ukraine. The loss after tax stood at $20.4 billion following BP’s decision in February to pull its 19.75% stake in energy group Rosneft, ending more than three decades of […]

Johannesburg – Lobby group FairPlay is calling for the scrapping of Value-Added Tax on some chicken products. The group says many South Africans will be turning to chicken for protein due to rising prices. The war in Ukraine and the Covid-19 pandemic have resulted in the entire globe experiencing significant increases in food prices. “Chicken […]

Johannesburg – Thousands of striking workers at mining giant Sibanye-Stillwater are standing their ground after refusing the company’s latest wage offer. Sibanye increased its offer to the lowest-paid workers from R700 to R800 per month for three years, and also added a R50 increase to its living out allowance. The strike is in its seventh […]

Johannesburg – The City of Johannesburg will not ban foreign nationals from informal trading. That’s according to the MMC for Economic Development, Nkululeko Mbundu. Mbundu said the new informal trade policy will give priority to South Africans. “We have got foreign invasion in our trade. We have the responsibility to protect South Africa first,” he […]

Johannesburg – A survey by FNB has revealed that the retail property sector is showing signs of improvement along with declining vacancy rates. After Covid-19, many properties are still vacant and there are concerns that the overall picture will not change. If one thinks back to before we had Covid-19, there were business hubs in […]

The United Nations World Food Programme predicts food shortages in Zimbabwe in 2022. It says this will be brought on by an economic meltdown, price increases and poor agriculture harvest. The cost of basic commodities in Zimbabwe suddenly shot up this week worsening the plight of already cash-strapped citizens. The WFP said although there are […]

Some 45,000 tons of Sappi’s inventory (including 30,000 tons of dissolving pulp) were damaged due to the flooding in KwaZulu-Natal, while the company also suffered lost production of 23,000 tons. The company expects insurance payouts of around $28 million (around R431 million), which means there will be no material impact on its profit for the […]