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.

1. SA’s unemployment data is expected to remain high

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

2. Former Transnet treasurer under fire

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.

4. African countries should 'decolonise' water, recognise customary rights - report

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.

5. WATCH: Rand weakens after Moody's comments on #MTBPS

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

6. Moody’s and Fitch spook the rand

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.

7. Independent Media responds to PIC

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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