Business In The News South Africa

Competition Commission seeks penalty against SA Airlink over pricing

JOHANNESBURG, February 14 – The Competition Commission said on Wednesday it had referred SA Airlink, a privately controlled regional feeder airline, to the Competition Tribunal for prosecution on charges of “excessive and predatory pricing”. The commission said this followed complaints lodged by businessman Khwezi Tiya, low cost carrier Fly Blue Crane and the OR Tambo District […]

Business In The News South Africa

KZN businesses on a trade mission to seek opportunities in Zambia

CAPE TOWN, February 12  – Torino Lounge, a KwaZulu-Natal based manufacturer of lounge suites, will be one of 12 local companies seeking to expand their client base when they participate in a trade mission and business engagements in Lusaka, Zambia, in March. Trade and Investment KwaZulu-Natal (TIKZN), a provincial agency which promotes KZN as an […]

Business In The News

FSB warns the public against Instant Group SA, Creative Investments Options imposters

JOHANNESBURG, February 10 – The Financial Services Board (FSB) has warned the public against conducting financial services business with Instant Group SA. “Instant Group SA is not an authorised financial services provider and the public is warned to exercise caution when dealing with this entity,” the FSB said in a statement. It had been brought […]

Business In The News International South Africa

South African-born billionaire buys Los Angeles Times

JOHANNESBURG, February 9 – A billionaire born to Chinese immigrant parents in South Africa has bought one of America’s most famous newspapers for $500m, the BBC reported. Patrick Soon-Shiong revealed he was inspired to purchase the Los Angeles Times by his childhood in Port Elizabeth under the country’s apartheid regime. “Ultimately, this decision is deeply […]

Business In The News South Africa

DRDGOLD forecasts profit of R229.4 million

JOHANNESBURG, February 6 –  DRDGOLD Limited (DRDGOLD; JSE, NYSE: DRD) on Tuesday announced that its proposed acquisition of Sibanye-Stillwater’s West Rand Tailings Retreatment Project (WRTRP) forecasts profit of R229.4 million for the 12 months ending 31 December 2019. The company said the profit forecast was based on throughput of approximately 500 000tpm at a recovered grade of […]