Business In The News South Africa

Commission fines two chemical companies R37mln for cartel conduct

JOHANNESBURG, July 13 – The Competition Commission said on Thursday that two companies involved in the manufacturing and supply of key chemical input materials used to make detergents, cosmetics and toiletries, have agreed to pay fines after admitting to price fixing and dividing markets. Investchem and Akulu Marchon are manufacturers and suppliers of a range […]

Business In The News South Africa

Businesses worried over continued power outages in Pietermaritzburg

PIETERMARITZBURG, July 12 – Organised business has expressed concerns over the continued interruption of power supply following another bout of power outages in Pietermaritzburg this week. On Monday, suburbs such as Hilton and Northdale experienced outages for the entire evening, while residents of Sweetwaters Township also had a similar experience. Pietermaritzburg Chamber of Business (PCB) CEO, […]

Business In The News International

PepsiCo beats Street 2Q forecasts

PURCHASE, N.Y. — PepsiCo Inc. on Tuesday reported second-quarter earnings of $2.11 billion. On a per-share basis, the Purchase, New York-based company said it had net income of $1.46. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.50 per share. The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by […]

Business In The News South Africa

Transport minister says four senior Prasa staffers linked to companies they awarded contracts

PARLIAMENT, July 7 – Transport Minister Joe Maswanganyi has revealed that four Passenger Rail Agency of SA (Prasa) employees have been identified as awarding contracts worth over R100 million to companies whose directors they have a connections with. In a reply to a parliamentary question published on Monday, Maswanganyi said the employees, Sonwabile Kondlo, a […]

Business In The News South Africa

Operations at South32’s Appin colliery still suspended

JOHANNESBURG, July 10 – Diversified metals and mining company, South32, said on Monday that underground operations at the Appin colliery, which forms part of its broader Illawarra Metallurgical Coal operation, remained suspended. This comes after elevated gas concentrations were recorded at Area 7 of South32’s Appin mine in the southern coalfields of New South Wales, Australia, forcing the company […]

Business In The News South Africa

Abey Mokgwatsane appointed Vodacom brand marketing and communications executive

JOHANNESBURG, July 10 – Vodacom Group on Monday appointed marketing and advertising trailblazer, Abey Mokgwatsane, as its new managing executive for brand marketing and communications. Mokgwatsane has been the chief executive of Ogilvy South Africa since January 2012, one of the country’s leading advertising agencies. He is taking over from Mzamo Masito who joined Vodacom in May 2013. Vodacom chief […]

Business In The News South Africa

Multi-million rand black industrialist firm Microfinish Automotive launched

JOHANNESBURG, July 7 – Deputy Trade and Industry Minister Bulelani Magwanishe launched a multi-million rand firm, Microfinish Automotive, in Pinetown, KwaZulu-Natal on Friday. “Being one of the beneficiaries, Microfinish alongside 16 other black industrialists manufacturers will inject R1 billion and create 2400 direct jobs and 1700 indirect jobs in the KwaZulu-Natal region. It also contributes […]