CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. SA banking business reflects tough operating environment
Standard Bank delivered “unexciting” headline earnings per share (Heps) for the nine months to September of 4 percent on a subdued South African business performance, alleviated by strong growth by the rest of its Africa operations.
2. LGP firms to answer to price-fixing cartel claims
Five liquefied petroleum gas (LPG) companies have been referred by the Competition Commission to the Competition Tribunal for prosecution for cartel conduct and fixing gas cylinder prices.
3. #SARSInquiry: Nugent adamant about Moyane
Retired Judge Robert Nugent has maintained that poor tax and revenue collection by the SA Revenue Service (Sars) prompted his “urgent and final recommendation” to President Cyril Ramaphosa to fire suspended boss Tom Moyane.
4. Datatec comes out strong, turning $29m loss into $6.6m profit
Datatec has turned from a $29.4 million (R417.48m) loss to a profit of $6.6m in the six months to end August on the back of a strong performance from one of its key divisions.
5. Mauritius bourse looks to entice African issuers with new index
The Stock Exchange of Mauritius will launch a new index next month dedicated to African firms to attract more issuers from the continent, its chief executive said.
6. MSP launches affordable housing in Gauteng
Multi-Spectrum Property (MSP) is currently working on meeting the high demand for housing by constructing nine different developments across Gauteng.
7. The hypocrisy and lies of Business Day
Tiso Blackstar’s Business Day could by all accounts be considered irrelevant due to its small daily circulation of approximately 20 000 nationally.