A source close to the process disclosed to Independent Media on Tuesday that it is expected that the Public Investment Corporation's chief executive, Dr Daniel Matjilawill be cleared by the Budlender inquiry of all allegations about a relationship between him and the owner of Maison Holdings (MST), Pretty Louw. File picture: Dean Hutton.

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

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South Africa could see its credit rating upgraded if it successfully implements structural reforms that would raise economic growth and stabilise the nation’s debt burden, Moody’s Investors Service said.

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The allegation that Public Investment Corporation (PIC) boss Dan Matjila funded a “girlfriend”, which forms part of a concerted campaign to oust him, is set to be cleared by a report from a probe into the matter.

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The interim report of the commission of inquiry into tax administration and governance by the South African Revenue Service (Sars) recommends that President Cyril Ramaphosa ensures that suspended commissioner Tom Moyane is removed from the post without delay and a replacement appointed.

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The SA National Roads Agency (Sanral) has agreed to engage with contractors about delay penalties imposed on them after projects were halted because of problems with the “construction mafia”.

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The South African Revenue Service's (Sars) IT infrastructure faces total collapse if it fails to finish its upgrading programme. 

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Pick n Pay rode the wave of the massive fuel hikes and the one percentage VAT increase in April that constrained consumer spending to record its best ever results during the six months to end August.

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Huawei unveiled new flagship smartphones with a novel smart camera and video features on Tuesday, as it seeks to sustain momentum among price-conscious consumers.

BUSINESS REPORT ONLINE