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  • Fin24.com | Esor Construction files for business rescue

    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

    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

    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

    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

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

    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

    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

    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