The implementation of SEP has always been a controversial matter as, while it allows pharmaceutical manufacturers determine the launch price of their drugs, they may not raise their prices beyond the SEP set by the Minister of Health. Photo: File.

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

1. Bain & Company vehemently denies wilfully sabotaging Sars

Disgraced consulting firm Bain & Company has vehemently denied that it wilfully sabotaged the South African Revenue Services (Sars) for its own narrow selfish interest.

2. 2019 SEP adjustment is just the right dose for pharmaceuticals

Pharmaceutical manufacturers welcomed Minister Motsoaledi’s announcement of a 3.78  percent SEP increase for 2019, compared with a 1.2 percent in 2018.

3. Cyber security predictions for 2019

Panda Security’s Annual Report 2018 analyses data gathered by the organisation’s anti-malware research facility – PandaLabs, to present insights into major attacks and makes predictions for 2019. 

4. Nedbank concludes odd-lot offer

Nedbank on Tuesday announced that it had concluded the odd-lot offer to shareholders who owned less than 100 Nedbank ordinary shares.

5.KZN promotes investment opportunities in Cairo during IATF

Bringing together South African and International business people alongside the Intra-Africa Trade Fair held in Cairo, the breakfast aimed to highlight the variety of investment and tourism opportunities in KwaZulu-Natal.

6. Nigeria's access bank to buy struggling Carlyle-backed rival

Nigeria’s Access Bank Plc agreed to take over struggling local rival Diamond Bank Plc in a deal worth about $200 million that would create the nation’s biggest lender by assets. Both companies’ shares rose.

7. Twitter shares down due to concerns about hacking activity

Twitter said in a blog that it discovered suspicious traffic to a customer-support forum while investigating a security bug that exposed data. 

BUSINESS REPORT ONLINE