7 things you need to know today

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

1. #Dagga: CDCSA expects tax revenue boost for SA

The Cannabis Development Council of South Africa (CDCSA) said on Tuesday that it had set up branches in all provinces to ensure all who traded in cannabis paid their taxes and also paid a tax called the IKS tax which will be used to develop indigenous communities.

2. Comair soars to record earnings

Diversified airline Comair yesterday announced record earnings despite dismal trading conditions that include poor economic growth, rising fuel prices and a domestic market characterised by surplus capacity.

3. WATCH: Audi launches electric SUV with help from Amazon

German luxury car brand Audi on Monday staged the global launch of a new electric sports utility vehicle on the home turf of rival Tesla and highlighted a deal with Amazon.com Inc to make recharging its forthcoming e-Tron models easier

4. South African consumers saves billions in loyalty programme rewards

South African consumers have saved billions of rands in loyalty programme rewards offered and are increasingly taking advantage of their reward points given the country’s tough economic climate, which is having an impact on consumer goods including fuel, electricity and food.

5. SA's economy labelled the worst among its peers

The Organisation for Economic Co-operation and Development (OECD) has labelled South Africa’s economy the worst performer among its peers, making Finance Minister Nhlanhla Nene’s balancing act in the Medium Term Budget Policy Statement even more difficult.

6. Gateway opens for Transnet suspensions

The Pretoria North High Court yesterday provided a boost to Public Enterprises Minister Pravin Gordhan’s continuing tussle with Transnet after it dismissed as ‘rather vague’ former board member Seth Radebe’s bid to be reinstated.