Good morning. This is all the latest business news that you need to know today.
1. SAA in talks with prospective new business partners
SAA announced yesterday that it was in talks with potential commercial partner airlines as it pushed ahead with the implementation of its turnaround strategy.
2. Eskom reports R2.3 billion net loss
Eskom buckled under a barrage of serious strategic blunders, which include mismanagement and allegations of corruption, that cost it qualified opinion and negative investor sentiment during the year to end March.
3. ANC says 10th #BRICS Leaders' Summit a crucial milestone
The African National Congress has welcomed all heads of states who will be in South Africa to attend the 10th BRICS Summit for three days from Wednesday, saying that this year's summit will be a crucial milestone as it marks a decade of BRICS co-operation.
4. Anglo American Platinum declared a post-tax profit of R2.3 billion
Anglo American Platinum’s share price jumped a percent after it announced interim results for the half year to end-June.
After suffering a loss of more than R1 billion in the previous year, it now declared a post-tax profit of R2.3 billion.
5.Growthpoint in landmark water supply deal
Growthpoint, the listed property company that was one of the early movers in Cape Town to embark on a desalination project to address the water crisis in the Mother City, has taken its first South African commercial property off the municipal water grid.
6. BRICS bank approves $600 mln in loans for South African, Chinese projects
The New Development Bank, set up by the BRICS group of emerging economies, has approved loans of $300 million for energy projects in South Africa and $300 million for a transportation project in China.
7. Amplats acquires Glencore’s 39% interest in Mototolo joint venture
Anglo American Platinum said on Monday its wholly-owned subsidiary Rustenburg Platinum Mines had signed a sale and purchase agreement with major commodity producer and marketer Glencore to purchase its 39 percent interest in the Mototolo joint venture.