Trade and Industry Minister Rob Davies told Business Report, on the sidelines of the World Economic Forum (WEF) meeting in Davos, Switzerland, that Zimbabwe needed assistance to reignite its collapsed economy.

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

1. Comair, Numsa reach a two-year wage settlement

Comair on Wednesday announced that it had reached a wage settlement agreement with the National Union of Metalworkers of South Africa (Numsa).

2. Numsa's Jim slams Radebe, Gordhan and new board for being 'anti-Eskom'

The National Union of Metalworkers of South Africa (Numsa) said on Wednesday that Energy Minister Jeff Radebe, Public Works Minister Pravin Gordhan and the new Eskom board were all "anti-Eskom" for deciding to retrench workers at the state-owned entity (SOE). 

3. Minister Davies joins calls for SA to assist Zimbabwe

Department of Trade and Industry (dti) Minister Rob Davies yesterday added his voice to growing calls for measures to assist Zimbabwe’s economy, charging that it was in the interests of South Africa and the rest of the continent to see stability in the embattled southern African nation. 

4. Rand rises as inflation dips to 7-month low

The rand lifted slightly yesterday after data from Statistics South Africa (StatsSA) yesterday showed that inflation dipped to a seven-month low of 4.5 percent in December – settling in the midpoint of the SA Reserve Bank’s target range of 3 to 6 percent.

5. Fuel hikes sharply impact South Africans’ take-home pay

 Although take-home pay was slightly up last year, 2018 was still the most difficult year for salary adjustments in the last five years while the increase in private pensions will mean that pensioners will be an important part of South Africa’s economy.

6. McKinsey & Co is again accused of misdeeds in bankruptcy case

McKinsey & Co, a consulting firm whose conduct in bankruptcy cases has already drawn the attention of two judges, was accused again of improperly receiving and concealing payments from a client on the verge of bankruptcy. 

7. PICS: Residential property enjoys growth due to investment, development

Dainfern is an upmarket suburb within a sprawling residential and commercial hub touted as Johannesburg’s ‘New North’. 

BUSINESS REPORT ONLINE