MOODY’S says the government needs to improve the management of SOEs. Reuters

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

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Economists believe this week’s unemployment data will remain stubbornly high amidst weak economic growth.

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Transnet in a move to put its house in order said at the weekend that it was continuing with disciplinary action against its former group treasurer, Phetolo Ramosebudi. 

3. Richemont partners with Alibaba in new luxury venture

Luxury goods group Richemont and Alibaba will form a joint venture (JV) to launch a luxury retail platform by bringing the retail offerings of Yoox Net-A-Porter group (YNAP), the world’s leading online luxury retailer, to Chinese consumers.

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African governments should recognise customary rights to water for millions of small farmers who have been sidelined or “criminalised” by permit systems created during the colonial era, said a report published on Monday.

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 The rand traded on the back foot during Friday’s European trading session according to NKC Research. 

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International rating agencies on Friday spooked the rand after Moody’s and Fitch weighed in on the medium term budget policy statement (MTBPS) delivered this week, expressing their displeasure with Moody’s Investor Services particularly scathing.

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Independent Media has read and acknowledges the statement by the PIC released on Friday 26 October, wherein it clarifies its position following a statement released by Tiso Blackstar.

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