South African Finance Minister Tito Mboweni is to deliver his Budget policy statement at Parliament in Cape Town today. Photo: Sumaya Hisham/ Reuters.

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

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Pressure mounts as Finance Minister Tito Mboweni is expected to address pressing matters such as increasing debt, high unemployment and State-owned entities. 

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Gupta-owned Oakbay Investments has until March 25 to oppose a liquidation application lodged at the High Court in Johannesburg over an R2.4 million debt by Tegeta Exploration and Resources.

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Political parties in Parliament are preparing for a tough Budget today with Minister of Finance Tito Mboweni expected to address major issues affecting the country.

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A late slide by the greenback helped the South African currency reverse early losses as investors remained on the sidelines ahead of today’s annual budget speech. 

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Egyptian Tourism Minister Rania al-Mashat praised on Monday the tourism sector as one of the most growing sectors worldwide.

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The Medium-Term Budget Policy Statement (MTBPS) as presented by Minister of Finance, Tito Mboweni last, was given against the realisation of the staggering impact State Capture had on the South African economy, strained fiscal numbers and ongoing concerns regarding the risks of further credit rating downgrades.  

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 Ahead of the Mobile World Congress which is set to take place in Barcelona, Samsung is set to launch its next smartphone on Wednesday the 20th of February at a Galaxy Unpacked event.


BUSINESS REPORT ONLINE