CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
The rand clung on to some overnight gains against the US dollar during yesterday’s European trading session according to NKC Research.
AYO Technology Solutions (AYO), the largest black-empowered JSE-listed ICT group in the country, yesterday looked set to join the big wireless operators in bidding for a share of the licensing of spectrum in the 700MHz, 800MHz and 2.6GHz bands when they are put on auction by the end of March.
South Africa is expected to exit the technical recession in the third quarter, after Statistics South Africa reported a 2.5 percent growth in retail sales for August, following an upward 1.4 percent recorded in July and beating market expectations of a 0.3 percent rise.
Steinhoff said investors who are suing the crisis-hit firm had agreed to suspend litigation until next year, allowing the retailer time to focus on its recovery.
The Africa Export-Import Bank (Afreximbank) has come to the rescue of ailing Zimbabwe, confirming on Tuesday that the bank will avail a $500 million (R7.1 billion) facility to help Zimbabwe stabilise its foreign currency position to enable the importation of key commodities.
The Nugent Commission of Inquiry on Wednesday was left confused after the South African Revenue Services (Sars) head of the information technology (IT) department failed to give coherent answers to questions about the institution's crumbling IT infrastructure.
It’s a perfect 10. On Tuesday, for the first time since the March 2012 launch of the Bloomberg Billionaires Index, every one of the world’s 10 richest people added at least $1 billion ( R14 bn) to their fortunes as US stock markets ripped higher, brushing off last week’s malaise.
BUSINESS REPORT ONLINE