Finance Minister Tito Mboweni will deliver his maiden Medium-Term Budget Policy Statement (MTBPS) to Parliament today. File Image: IOL

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

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Economists and opposition political parties have called on Finance Minister Tito Mboweni to focus on cost containment and cost-cutting, or run the risk of rating agency Moody’s downgrading South Africa to junk status.

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Finance Minister is faced with the mammoth task of presenting the Medium-term Budget Policy Statement on Wednesday and it will not be easy at all with a VAT hike, rising fuel prices and real cuts in key social spending areas were announced in the February budget.

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Southern Africa strengthened its relations with its largest trade partner, the European Union at the Fifth South Africa-Italy summit.

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Two new hotels are to be developed in Waterfall City, while City Lodge is considering expanding its existing 150-bedroom hotel in the precinct by 50 rooms.

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Moody's Investor Services on Tuesday maintained a negative outlook on Cameroon's sovereign credit rating following the announced election results. 

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The Public Investment Corporation (PIC) and Pelo Agricultural Ventures have acquired a majority shareholding in Karan Beef for a maximum consideration of up to R5.2billion. 

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Anglo American Platinum (Amplats) on Tuesday appointed Norman Mbazima as non-executive director with immediate effect. 

BUSINESS REPORT ONLINE