Good morning. This is all the latest business news that you need to know today.
1. New revenue numbers appear for Steinhoff
New revenue numbers reportedly show that Steinhoff lied about its profits. The real number of revenue is reportedly almost R6 billion lower than previously stated.
2. R2.5 million artificial wetland to be built
An R2.5 million artificial wetland is reportedly in the pipeline to be built in Paarl, Western Cape. The wetland will be built to reportedly purify contaminated water for farmers.
3. The dti aims to woo China to SA's SEZ's DTI
The Deputy Minister of Trade and Industry, Bulelani Magwanishe will lead an investment roadshow to Shanghai, China aimed at wooing investors to the South African Special Economic Zones.
4. Mamabolo announces drones to take flight in Gauteng
Jacob Mamabolo, the MEC of the Gauteng Department of Infrastructure Development has announced that he will be launching the province’s first drone programme today.
5. WATCH: Nokia launches new device, the X6
HMD Global has released the latest Nokia smartphone – the Nokia X6 at an event in China and its possible that the device might only be available there, reports suggest.
6. Beyond the Dollar Everything's ‘Just Noise’ for Emerging Markets
As the dollar clocked up its longest rally since 2015, the MSCI Emerging Markets Currency Index closed on Friday below its 200-day moving average for the first time in more than a year, heralding more losses.
7. At $78,000, Tesla Moves Mass-Market Model 3 Beyond Masses
Elon Musk’s Model 3, once touted as Tesla’s $35,000 car for the masses, can now set a buyer back almost $80,000.
Musk unveiled specifications for a faster and more powerful version of the Model 3 in a series of tweets over the weekend. It will cost $78,000, more than double the $35,000 base-model starting price discussed into the run-up before the electric car’s deliveries started last year.
-BUSINESS REPORT ONLINE