Business In The News South Africa

153 NUM Zululand Anthracite Colliery underground strikers resurface

EMAKHALTHINI, October 15 – The 153 workers who staged an underground sit-in at the Zululand Anthracite Colliery at Emakhalathini in northern KwaZulu-Natal since October 10 – apparently over long-service awards – have resurfaced from the mine, the National Union of Mineworkers (NUM) said on Sunday. The 153 NUM members and other workers resurfaced from underground […]

Business In The News South Africa

Transnet forges ahead with ambitious SA-Swaziland rail link

JOHANNESBURG, October 13 – South Africa’s state-owned freight logistics group Transnet said on Friday that plans are well under way for its multi-million rand railway project Swaziland Railway. South Africa and Swaziland signed the project Memorandum of Understanding in 2012 with the aim that the Swaziland Rail Link will also serve as back-up to the coal line. […]

Business In The News International South Africa

Rand jumps on Zuma court ruling; MSCI index at 6-year high

Johannesburg, October 13 – The rand jumped to two-week highs on Friday after a court ruling that upheld reinstating corruption charges against President Jacob Zuma, while the rally on broader emerging markets continued. MSCI’s emerging equity index inched to new six-year highs on back of encouraging Chinese trade data, record high world shares and a […]

Business In The News South Africa

SAICA’s independent inquiry into KPMG finalizes terms of reference

JOHANNESBURG, October 13 – The South African Institute of Chartered Accountants (SAICA) on Friday said an independent inquiry into the conduct of some chartered accountants formerly employed by embattled audit firm KPMG would begin soon. In a statement SAICA chief executive, Terence Nombembe, said: “The independent inquiry will not be conducted by SAICA, but by […]

Business In The News South Africa

SA mining production surges 6.9% in August and exceeds expectations

JOHANNESBURG, October 12 – Mining production in South Africa increased by 6.9 percent year-on-year in August whilst seasonally adjusted mining production increased by 5.3 percent in the same month compared with July, Statistics South Africa (StatsSA) said on Thursday. StatsSA said the biggest contributors to the jump in production were iron-ore, diamonds and gold, adding 1.3 percentage points, […]

Business In The News South Africa

Business Leadership SA appoints new head of policy and legislation

JOHANNESBURG, October 12 – Business Leadership South Africa (BLSA) has appointed a black female attorney, Tebele Makhetha, as its director for policy and legislation effective from November 1 this year. BLSA is the business body representing more than 70 of the country’s largest companies and multinationals. Makhetha will be responsible for ensuring compliance with relevant legislation […]

Business In The News South Africa

Gigaba to face rating agencies and investors at IMF and World Bank meetings

JOHANNESBURG, October 12 – Finance minister, Malusi Gigaba, is set to meet with sovereign credit rating agencies and investors in Washington D.C. this week as he tries to quell fears about the country’s political and fiscal uncertainty. This comes as Gigaba has demanded that the Public Investment Corporation (PIC), the country’s biggest investor in the economy, reveal its investments […]