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

1. Treasury backs Dan Matjila

The National Treasury has given its backing to under-fire Public Investment Corporation (PIC) chief executive Daniel Matjila, as a legal showdown between the ministry and Matjila’s detractors looms large.

2. Rand gains as dollar rally eases

SAs rand bounced back over 1 percent on Wednesday as the dollar fell from nearly seven month highs seen on Tuesday.

3. 50-year-old Cape steel firm in new lease of life

R550 million investment by Turkish firm DHT Holdings into a Cape steel firm, which was shut down eight years ago, has resulted in the re-establishment of the company and the return of 300 of the retrenched workers.

4. Mineral Resources exposes Tegeta labour issues

The Department of Mineral Resources yesterday laid bare Tegeta Exploration and Resources’ non-compliance with mining regulations and safety measures at its coal and uranium mines in Mpumalanga and North West.

5. BLSA lifts its suspension of Eskom

Business Leadership South Africa (BLSA) said yesterday that it had lifted the suspension of Eskom, which reinstates the electricity utility’s full membership of the organisation.

6. Provincial government to launch digital tool for SMME's

The Department of Economic Development and Tourism is set to release a new tool later this year that will assist businesses in becoming more digitally savy.

7. Nampak first-half profit up by 10%

Africa’s biggest packaging firm Nampak reported a 10 percent increase in first-half profit on Wednesday, boosted by strong demand for its beverage cans and plastic containers.

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