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CAPE TOWN - Good morning. This is all the latest business news that you need to know today. 

1. SA falling behind globally in mobile payments

The international audit and advisory firm, Mazars, on Thursday published a new study featuring a Mobile Payment Index that showed South Africa was falling behind. 

2. Gemfields trading update is not good reading

Gemfields' share price slid by more than 4 percent on JSE after it said in a trading update that its profits after tax would decline by at least 22.5percent for the six months to end June. The gemstone mining company did not provide reasons for the expected decline in profits. The share price later closed 2.55percent lower at R1.61.

3. SA plans to become net exporter of hops with black emerging farmers

South African Breweries (SAB) on Thursday launched an R80 million agricultural research and development facility in Caledon in the Western Cape, which will pilot new farming techniques, technology, and crop varieties to accelerate agricultural development in the country. 

4. OECD slashes South Africa's growth forecast to 0.5 percent

The Organisation for Economic Co-operation and Development (OECD) has slashed South Africa’s growth forecast more than half to 0.5 percent for this year from the 1.2 percent it projected in May.

5. Alarm bells: Blue Label earnings may decline by 20%

Blue Label Telecoms on Thursday flagged that its earnings for the year to May could plunge as much as 20 percent after impairing its exposure to Cell C to zero.

6. JUST IN: Old Mutual’s 'Pinky' Moholi calls it quits … Twitter sends barbs toTrevor Manuel

Old Mutual’s non-executive director Nombulelo Moholi has resigned with immediate effect from the company, according to an announcement late on Thursday.

7. WATCH: Rand recovers from earlier losses

Yesterday was a mixed bag, the South African currency held out during yesterday’s session but slipped in late trade as the benchmark interest rate was kept unchanged in a unanimous decision according to NKC Research. 

BUSINESS REPORT ONLINE