CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. WATCH: Rand regains traction after early losses
The South African currency regained traction after sustaining earlier losses due to a broad selloff in emerging market currencies.
2. Anglo American makes executive changes
Global mining group Anglo American on Thursday announced a number of senior management changes following the decision to divide the management of its global base metals business from its strategy and business development activities.
3. NUM welcomes removal of Eskom general manager in Free State
The National Union of Mineworkers (NUM) Free State region on Thursday welcomed the removal or transfer of Eskom general manager in the province, Lindi Mthombeni.
4. SAA increases nonstop flights between Washington D.C. and Accra
South African Airways says it will increase the frequency of its nonstop flights between Dulles International Airport in Washington, D.C. and Accra’s Kotoka International Airport to five days per week from April 2.
5. SA consumers in for a rough ride in 2019
While the decrease in the prices of petrol and diesel of R1.23 a litre for petrol and R1.55 for diesel will bring much-needed relief to cash-strapped consumers, the rest of the picture for 2019 looks gloomy, to say the least.
6. Apple stocks down due to cut in revenue forecast
Apple announced that due to weaker iPhone sales in China, whose economy has been hit by an ongoing trade war with the US, its revenue forecast has decreased for the first time in 16 years.
The tech giant's stock closed down 10 percent, losing $75 billion in value. Investors have now lost $450 billion.
7. More attention should be given to rural schools, says Parliament
Parliament says more attention should be given to schools in rural communities to bring them on par with those in urban areas.
The legislature's portfolio committee on basic education applauded the 78.2 percent pass mark from the 2018 high school finishing matric exams, urging the department of basic education to sustain the improvement and the upward trend dating to 2014.