Latest News

  • Fin24.com | Esor Construction files for business rescue

    Esor Construction, a subsidiary of Esor [], has applied for business rescue. On Monday, it said in a note to shareholders that it was in financial distress and owed creditors about R130m. The main causes were significant losses incurred on certain construction contracts in the current and prior financial years, the challenging economic environment in the construction sector, and an... Continue reading

     
  • Fin24.com | Rand will rally – even though it‘s hit second-hardest, say analysts

    There is currently no reason to believe the rand won‘t “pull back”, with the majority of trade for the rest of the year being concentrated in the R13.00 – R14.00 range, say analysts from Rand Merchant Bank Global Markets Research and Sales. The rand‘s initial weakness on Monday morning does not represent a fair assessment of where it should be... Continue reading

     
  • Fin24.com | Treasury: Economic growth will be done by the book

    Any plans government considers to stimulate economic growth will be above board and go through the necessary channels, National Treasury insisted on Monday.  In a statement, Treasury addressed skepticism around proposals including a sovereign wealth fund, which would be an investment pool made up of money from the country‘s reserves. Critics have called for clarity on how such a fund... Continue reading

     
  • Fin24.com | Debt hitting SA‘s single women harder

    Single women in South Africa seem to be struggling with their debt more than their single male counterparts, according to debt counselling and consolidation firm DebtBusters. Unsecured debt refers to a loan or credit agreement that does not have an asset, such as a house or car, serving as collateral for payment of the debt. In a statement, DebtBusters said... Continue reading

     
  • News24.com | Give us reality, not news

    I would just like to know how News24 doesn‘t cover the violence or trurth happening. I drove from Sandton to Northem over the weekend. I witnessed three land grabs in a space of 200km. Not one of them are here. The protest in Rustenburg? Nothing. This news is run by the government.  I know of more Zimbabwe violence than of... Continue reading

     
  • News24.com | Did Julius Malema score an own-goal?

    Is it hypocrisy or it is a case of behind the scenes deals? Juju as he is affectionally known, Malema has established himself as the kingmaker of South African politics and I would want to call him the supreme president of the republic because the ANC government listens to him. Everything he says goes. Malema vigorously campaigned for Jacob Zuma’s... Continue reading

     
  • News24.com | Racists will be racists, regardless of geography

    I read with keen interest the comments posted by about racist South Africans in New Zealand. It made me laugh out loud and heartily. My parents moved to New Zealand in 1976 due to their political leanings and my parents being tired of the constant harassment by the secret police. During our time in New Zealand as a family of... Continue reading

     
  • News24.com | Christo Wiese given Carte Blanche

    For 30 years we have marvelled at Carte Blanche’s intrepid presenters and reporters going after all manner of crooks, con-artists and criminals. Fearlessly asking the hard questions and getting answers for a powerless and angry public. The Carte Blanche team have been the closest thing we have in South Africa to crusading super heroes willing to help the weak and... Continue reading

     
  • News24.com | In defence of the DA‘s BEE proposal

    So, recently the DA’s federal executive announced that, according to them, the policy of Black Economic Empowerment has failed and that it should be replaced by an alternative. Recently I have also read a book, written by Thomas Sowell, on the empirical facts and outcomes of affirmative action policies in the USA, Malaysia, India and Sri Lanka. Many of the... Continue reading

     
  • Fin24.com | Cosatu threatens ANC over alleged government job cuts plan

    The Congress of South African Trade Unions (Cosatu) has given government an ultimatum to stop discussing the fate of public servants unilaterally or risk losing the ANC-allied labour federation’s support at next year’s general election. Cosatu‘s national spokesperson Sizwe Pamla was speaking to on Monday morning, ahead of the trade union federation‘s central executive committee (CEC) meeting. The CEC meeting is... Continue reading

     
  • Fin24.com | Top reads on Fin24: Eskom faces fresh strike threat, Turkish turmoil wreaks havoc for rand and Cosatu threatens ANC

    In case you missed it, here‘s a roundup of Monday‘s top economic and finance reads on Fin24. Unions hold the cards as Eskom faces fresh strike threat Eskom has accused the National Union of Mineworkers (NUM) and the National Union of Metalworkers of South Africa (Numsa) of stalling and condoning ill-discipline among their ranks, as tension remains over potential discipline... Continue reading

     
  • Fin24.com | Rand hit hard as traders brace for more Turkish turmoil

    The meltdown in the Turkish lira is finding its way into other markets with traders positioning for more turmoil for the rand. Bloomberg Economics’ emerging-market vulnerability scorecard shows Argentina, Colombia, Mexico and South Africa join Turkey as the weakest links. But with Argentina and Mexico offering higher-than-average risk-adjusted returns, it leaves South Africa and Colombia as the most likely candidates... Continue reading

     
  • Fin24.com | Unions hold the cards as Eskom faces fresh strike threat

    Eskom has accused unions the National Union of Mineworkers (NUM) and the National Union of Metalworkers of South Africa (Numsa) of stalling and condoning ill-discipline among their ranks, as tension remains over potential discipline of members who participated in an illegal strike.  The two unions are yet to sign the latest wage offer of a 7.5% increase for 2018 and... Continue reading

     
  • Fin24.com | Treasury says no bailout approved for state firms

    National Treasury denied that the government has approved a bailout package of R59bn for state-owned companies. A cabinet meeting “is not a place where budget bids are tabled,” the Treasury said in an emailed response to questions after the Sunday Times reported the rescue plan was discussed at a cabinet meeting convened by President Cyril Ramaphosa last week. The South... Continue reading

     
  • Fin24.com | JSE stands its ground as Turkish crisis pummels rand

    The JSE stood its ground on Monday as the fall-out from the Turkish lira slump hit emerging currencies and spilled over to other global equity markets. The contagion arising from the slump of the Turkish lira to a new all-time low overnight, resulted in the rand dropping to a level last recorded in June 2016. The rand dramatically dropped to... Continue reading