The African Bank is set to launch its new transactional bank account, MyWORLD, during the first half of 2019, marking its entry into the transactional banking market. Photo: Simphiwe Mbokazi/African News Agency/ANA

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

1. Anglo American hikes copper production guidance in Chile to meet global demand

Anglo American on Tuesday increased its copper production guidance from its operations in Chile for 2018 from 630,000 to 660,000 tonnes, as well as the following three years to 2021, but lowered the unit cost guidance for the current and next year as the high demand for copper will constrain the supply.

2. Ombud urges full disclosure when buying insurance

The warning by the Ombudsman for Long-term Insurance for consumers to disclose full information when applying for insurance comes in the wake of the storm that followed Momentum’s refusal to pay a R2.4million life insurance policy to a claimant whose husband died in a hijacking incident in their driveway last year.

3. MyWORLD to mark bank’s debut into new market

The African Bank is set to launch its new transactional bank account, MyWORLD, during the first half of 2019, marking its entry into the transactional banking market. 

4. PICS: R10,5m KZN home on exclusive street on the market for the first time

A R10,5 million five-bedroom home is now for sale on the Salt Rock Beach, along the north coast of KwaZulu-Natal. 

5. Electricity rates a key focus for property owners

Electricity supply and costs appear set to be a key focus area for property owners next year, with power utility Eskom seeking to obtain double-digit annual tariff hikes over the next three years. 

6. Harsh realities knock business confidence

Business confidence fell to its lowest level since the second quarter of 2017 as policy uncertainty continued to weigh heavily on growth and sentiment among building contractors and new vehicle dealers deteriorated. 

7. WATCH: Rand trades in a tight range against dollar

The rand traded in a tight range during yesterday’s European trading session

BUSINESS REPORT ONLINE