Photo: Reuters

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

1. AYO responds to Business Day article

AYO released a statement via Sens, which stated, "Shareholders are referred to the article published in the BusinessDay on 26  February 2019 referring to the compliance notice issued by the Companies and  Intellectual Property Commission (“CIPC”) requiring that the Public Investment Corporation (“PIC”) recoup its investment in AYO. 

2. SA infrastructure market is in crisis, says Aveng

The South African infrastructure market was in crisis, says financially troubled listed construction and engineering group Aveng.

3. Zambia, Zimbabwe cut Kariba Dam power generation

Zambia and Zimbabwe reduced power generation to around half capacity at their power stations at the Kariba Dam as water levels in the reservoir fell, Zambia’s state-owned ZESCO Ltd said on Monday.

4. BAIC sets new timelines for projected SA vehicle plant

 Beijing Automotive International Corporation (BAIC), the Chinese state-owned company that committed to invest R11 billion in South Africa, now claims that production was set to commence before the end of this year at its vehicle plant in Coega.

5. WATCH: Rand rallies against the greenback

The South African currency was one of the top-performing EM currencies, spurred by rising optimism over an imminent US-China trade deal and higher precious metal prices.

6. Sasol brushes aside delays, costs as core earnings per share rise 18%

Sasol has brushed aside the delays and escalating capitals costs at its Lake Charles Chemicals Project (LCCP) in the US to report an increase in its earnings for the six months to end-December.  

7. PIC was run by a deeply divided board

The PIC Commission of Inquiry continued yesterday, with Deputy Finance Minister Mondli Gungubele’s turn to be quizzed. 

BUSINESS REPORT ONLINE