Latest News

  • | Abu Dhabi and Nelson Mandela: The early morning walk to freedom

    It was early 1995 and I had recently been posted to Abu Dhabi to head the new South African embassy – once again a pioneering and challenging task. While still holed up in a hotel room, I was tasked with preparing for the historic visit of President Nelson Mandela, something I took on with great zeal and expectation. On the... Continue reading

  • | WATCH: Trump, Putin lash out over summit fallout

    US President Donald Trump has placed the blame on the media. “The Summit with Russia was a great success, except with the real enemy of the people, the Fake News Media,” the US president tweeted on Thursday. “I look forward to our second meeting so that we can start implementing some of the many things discussed, including stopping terrorism, security... Continue reading

  • | Macron under fire as security aide detained in assault inquiry

    French President Emmanuel Macron, trying to curb what has become the most damaging scandal of his presidency, on Friday fired a top security aide who has been taken into custody after videos emerged showing him strike a young man during a demonstration in Paris in May. The Elysee Palace told AFP that Alexandre Benalla would be dismissed after “new elements”... Continue reading

  • | Salaries not keeping up with medical aid increases

    Medical aid increases have not been keeping pace with salary raises, according to the eights GTC Medical Aid Survey. The financial services company, formerly Grant Thornton Capital, publishes the annual survey to assist its own consultants, financial planners and medical aid members to decide on the best plan to suit their pocket and needs. “The effect of these increases will... Continue reading

  • | Ramaphosa slams Moyane‘s objections to disciplinary as ‘sabotage‘ and ‘trite‘

    President Cyril Ramaphosa has dismissed at length suspended SARS commissioner Tom Moyane‘s objections to the procedural fairness of his disciplinary hearing.  In a 30-page affidavit submitted by Ramaphosa, the president outlines why the procedures are fair, despite several complaints laid by Moyane. The inquiry is set to take place on Saturday. “In fact, as will become apparent below, the Terms... Continue reading

  • | JSE advances as retailers and financials maintain momentum

    The JSE advanced on Friday as retailers and financials continued to lift the local bourse higher. Blue-chips were trading mostly in positive territory which helped maintain the upward momentum on the JSE. Retailer Truworths [] was buoyed by the release of a positive trading statement for the full-year ended 1 July 2018. The stock added 3.22% to close at R79.24... Continue reading

  • | Wiese: Forensic report will reveal what went wrong at Steinhoff

    Former Steinhoff chairperson Christo Wiese said that the forensic investigation into the global retailer would ultimately reveal how accounting fraud took place. Wiese was speaking to on Friday. Grootes had asked him how the retailer was looted under his watch. Wiese said he had only become chairperson of Steinhoff in July 2016 and had chaired “exactly four board meetings” during... Continue reading

  • | Sasol sees profit falling up to 11% on R16bn charge

    Sasol [] said full-year profit probably fell as the world’s biggest producer of fuel from coal takes a R16bn depreciation charge and accounts for expenses on share-based payments. Core headline earnings per share probably declined 1% to 11% in the year ended June 30 from the R38.47 reported 12 months earlier, the Johannesburg-based company said in a statement on Friday.... Continue reading

  • | Rand claws back after rates, GDP thump

    After weakening by more than 2% against the dollar on Thursday, the rand clawed back some losses in early trade on Friday. At 10:59 the local currency was trading 0.44% firmer at R13.46 to the dollar, after opening at R13.53.  It is still trading below Thursday morning‘s level of about R13.30/$. Wichard Cilliers of TreasuryONE said in a morning note... Continue reading

  • | AngloGold‘s Pityana warns SA on ‘reckless‘ mining rules

    South Africa risks driving away new investment and crippling its mining sector if “reckless” new rules are implemented, according to AngloGold Ashanti [] chairperson Sipho Pityana. The latest Mining Charter, which is aimed at sharing the benefits of the country’s mineral wealth more equally among South Africans, doesn’t provide solutions to the industry’s challenges and will make it difficult for... Continue reading

  • | Top 5 on Fin24: Medical aid increases don‘t keep pace with salary raises, Transnet disbands scandal-plagued committee

    Cape Town – A roundup of Friday‘s top economic and finance reads on Fin24. Ramaphosa: Moyane disciplinary inquiry fair President Cyril Ramaphosa has dismissed at length suspended SARS commissioner Tom Moyane‘s objections to the procedural fairness of his disciplinary hearing. In a 30-page affidavit submitted by Ramaphosa, the president outlines why the procedures are fair, despite several complaints laid by... Continue reading

  • | Zuckerberg‘s Holocaust comment puts Facebook on the spot

    Denying the Holocaust happened is probably OK on Facebook. Calling for a mob to kill Jews is not. Mark Zuckerberg‘s awkward and eyebrow-raising attempt this week to explain where Facebook draws the line illustrates the complexities social media platforms face as they take on the unwanted role of referee in this age of online misinformation, manipulation and hate speech. Facebook,... Continue reading

  • | 11 dead as boat sinks in Missouri lake

    A tourist boat capsized and sank on Thursday during a fierce storm on a lake in Missouri, killing at least 11 people, the local sheriff said. The incident on Table Rock Lake which happened as thunderstorms rumbled through the US Midwest left another seven people hospitalised while at least five were still missing, Stone County Sheriff Doug Rader told journalists,... Continue reading

  • | Million-dollar mistake: Woman becomes millionaire for 10 minutes after mix-up

    Boston – For a few minutes, a Boston woman says she was a millionaire. Ellen Fleming says she received a voicemail from a TD Ameritrade financial consultant on Wednesday afternoon that a deposit had been made into her account. The 26-year-old opened the company‘s app on her cellphone and was surprised to find $1.1m instead of the $50 that she... Continue reading

  • | More than 300 older children split at border are reunited

    The Trump administration said on Thursday that it has reunified 364 children ages five and older with their families after they were separated at the border, still leaving hundreds to go before a court-imposed deadline a week away. The Justice Department reaffirmed in a court filing that it has identified 2 551 children who may be covered by US District... Continue reading