Good morning. This is all the latest business news that you need to know today.
The International Monetary Fund on Monday kept South Africa’s economic growth forecast for 2018 unchanged at 1.5 percent but warned that the economy faced several headwinds, mainly the rapid rise in public debt and potential bailouts to state firms.
The curator of VBS bank will head back to court on Tuesday to ask for a provisional sequestration order to be granted against Robert Madzonga, the chief executive of Vele Investments - the bank's biggest shareholder.
Trouble-prone information and communications technology (ICT) group EOH Holdings fell 3.03 percent on the JSE yesterday to R40, despite the company announcing a R1 billion equity injection from Lebashe Investment Group as part of its amended Black Economic Empowerment (BEE) transaction.
Vehicle and asset financier WesBank on Monday announced a car finance product geared to enable graduates with no credit history to get their first set of wheels.
Construction has commenced on a new home and head office for Barloworld’s logistics business in the new 16 000m2 mixed-use Irene Boulevard development in Centurion.
The rand gained ground against the dollar on Friday, as the greenback slid on trade woes and as local sentiment was boosted after China pledged to invest billions in South Africa and SA Reserve Bank (Sarb) governor Lesetja Kganyago signalled that the country would narrowly escape a recession.
South Africans have been urged to use electricity sparingly as the country's power utility grapples with wildcat strikes, which Eskom said could result in rotational load-shedding during the morning peak period on Tuesday.
- BUSINESS REPORT ONLINE