CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
Finance Minister Nhlanhla Nene is expected in the witness stand when the state capture inquiry, led by deputy chief justice Raymond Zondo, resumes on Wednesday.
The year 2018 has been a mixed bag of performance for South Africa’s mining industry, with bulk commodity prices continuing to rise during 2018 from the lows at the beginning of 2016, while precious metals continued to struggle, a report by PricewaterhouseCoopers said on Tuesday.
South Africa’s economic woes worsened yesterday with the National Energy Regulator of SA (Nersa) giving Eskom permission to hike tariffs in April next year in a move that analysts said could see electricity rising by between 10 and 19.4 percent increase next year.
The rand retreated again on Tuesday as turmoil in Italy sparked off a selloff on the euro that spread to emerging market currencies as investors avoided risk assets and fled to safe havens.
Hilton Worldwide Holdings plans to more than double its hotels in Africa in the next five years by mainly striking deals with existing hotels for conversion into its brand, its chief executive said.
BMW AG has packed its revamped 3-Series sedan with tech gadgetry like smartphone entry, auto-reverse and an in-car assistant that learns drivers’ routines, aimed at delivering a crucial sales bump after growth slowed.
SA’s Labour Minister, Mildred Oliphant, will deliver an address during the opening and closure of the Jobs Summit at Gallagher Convention Centre in Midrand later this week.
BUSINESS REPORT ONLINE