Compiled by Dhivana Rajgopaul
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Confidence in service sector hits 15-year low
Confidence in the service sector plummeted to a 15-year low in the second quarter as the industry battled to come to terms with the country’s hard lockdown regulations implemented in March.
2. Vodacom executives rewarded for keeping telecoms giant profitable
Vodacom's shareholders have rewarded the company’s executives for keeping the mobile operator profitable and increasing its subscriber base, to make it a serious player on the continent.
3. 54% of South African women save for emergencies
A recent survey by the UK-based financial services company, Aegon shows that men are more prepared for unexpected expenses than women. According to the survey, 30% of men are confident that they can cope with a surprise expense compared to just 21% of women.
4. Food price inflation uptick temporary
Agricultural Business Chamber(Agbiz) said that the recent uptick in the South African food price inflation could be temporary.
The owners of the South African fast-food franchise Domino’s Pizza have moved to auction off the contents of their stores throughout the country.
6. South Africa’s gold stocks soar as bullion closes in on record
An index of gold stocks in Johannesburg rose as much a 2.7% to a fresh all-time high on Monday, as bullion prices look set to take out the record reached in 2011, amid loose monetary policy, low real yields, record inflows into exchange-traded funds and increased asset allocation.
7. Billionaire commodity trader Daniel Mate retires from Glencore
Daniel Mate, the billionaire metals trader and Glencore Plc executive, is retiring from the company and handing over trading of zinc and lead to Nick Popovic, according to people familiar with the matter.
BUSINESS REPORT ONLINE