CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Retail sector facing subdued operating conditions
Despite South Africa exiting the technical recession following growth in the economy in the three months to September, the outlook for the country’s retail sector for 2019 continues to be subdued.
2. World Bank issues stark warning on US-China trade war impact
The World Bank issued a stark warning yesterday on the impact of the US and China trade war, which made a global recession by 2020 likely.
3. Possible sovereign ratings downgrade for SA looms
As the World Bank yesterday lowered its outlook for the South African economy, local economists said they predict an even gloomier outlook, with a sovereign ratings downgrade for the country this year.
4. Employment equity report online deadline looming
Every year, designated employers in South Africa are obligated to submit an employment equity report reporting in accordance with Section 21 of the Employment Equity Act (EEA). The online deadline for submission of employment equity reports is 15 January, next week Tuesday.
5. Absa PMI rises further in December
South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) rose further in December, supported by an improvement in business activity and higher new orders.
6. Zim government commences disciplinary hearings against striking doctors
The Zimbabwean government on Wednesday said it commenced disciplinary hearings against junior medical doctors who embarked on a month-long strike action.
7. Woolworths removes baby carriers over 'copying' controversy
Retail giant Woolworths is to remove baby carriers from its stores after allegations that it copied the design.