CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Tax growth did not exceed GDP growth – SARS
For the first time since the global financial crisis of 2008, South Africa’s 2017/2018-tax growth did not exceed its GDP growth, the national treasury and SARS said in a joint statement on Thursday.
2. Nedbank ‘to reverse’odd-lot share acquisition
A Plettenberg Bay pensioner, who was irate with Nedbank for acquiring his odd-lot shares when he had indicated both in writing and telephonically that he did not want to sell them, claims the bank has agreed to reverse the transaction.
3. Numsa committee deal with wage discrepancies after strike averted at Comair
The National Union of Metalworkers of South Africa said on Friday a working committee had been set up to deal decisively with wage discrepancies and shift patterns at Comair, after reaching a deal with the airline to avert a strike.
4. AB InBev set to sink R1.42bn in cannabis drinks
The World’s leading brewer, Anheuser-Busch InBev (AB InBev), has teamed up with Canada’s Tilray to research cannabis-infused drinks by investing a combined $100million (R1.42billion) into researching non-alcoholic drinks containing cannabis elements.
5. WATCH: Rand strengthens slightly against the dollar
The South African currency started the day on the back foot after the market thought the FOMC speech on Wednesday’s night was dovish enough and the US dollar recouped some losses.
6. Tiger Brands forks out R9.08m for its chief executive in 2018
Tiger Brands paid its chief executive, Lawrence MacDougall, R9.08million for the year to end-September, representing a 6percent increase, compared with his total remuneration of R8.64m in 2017.
7. Daniel du Toit appointed Denel group CEO
The department of public enterprises and State-owned defence equipment company Denel on Thursday announced Daniel du Toit as the new group chief executive after Cabinet approved the appointment.