Good morning. This is all the latest business news that you need to know today.
1. Slight petrol price increase in August
Fuel price for petrol, both 95 and 93, in Gauteng is expected to increase by one cent a litre in August, while diesel expected to decrease by four cents a litre, the energy department said on Monday.
2. Minister Nene extends deadline for VAT panel to submit report to him
Finance Minister Nhlanhla Nene has extended the deadline for a panel of experts appointed to review the current list of items exempt from value-added tax (VAT) to submit its final report to him, Treasury said.
3. #WomensMonth: A millennial businesswoman assisting international students
Frustrations over red tape that international students encounter in South Africa led to a millennial entrepreneur starting a company aimed at circumventing bureaucracy.
4. The rand picks up
The rand rallied to its best level since the start of June yesterday, moving closer to breaking below R13/$ during the day.
This morning, the currency was trading at R13.30/$.
5. Constitutional amendment to clarify #LandExpropriation conditions: Ramaphosa
In a televised address President Cyril Ramaphosa, after the ANC’s national executive committee lekgotla, said that the ruling party would, through the parliamentary process, finalise a proposed amendment to the Constitution that outlined more clearly the conditions under which expropriation of land without compensation can be effected.
6.WATCH: President Cyril Ramaphosa addresses the nation on land reform, economy
On Tuesday night President Cyril Ramaphosa released a recorded address to South Africans on the outcomes of the ruling party's NEC lekgotla in Irene.
7. Check out the new features on the NedBankMoney app
Nedbank has revealed that they will be introducing some new features to its banking app NedBankMoney.