PRESIDENT Cyril Ramaphosa met with his Zimbabwean counterpart Emmerson Mnangagwa yesterday. Ramaphosa and Minister for International Relations Lindiwe Sisulu were in Harare as part of the 3rd Bi-National Commission Summit between the two countries. GCIS

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

1. Cash-strapped Group Five in business rescue

Group Five yesterday joined the growing list of casualties of the downturn in the construction industry, filing for business rescue and suspending the trading of its shares on the JSE.

2. Sea Harvest says it is well positioned for further growth

South African fishing and food company Sea Harvest said yesterday that the group was well positioned for further growth after its 2018 acquisition spree saw its asset surge from R2.6billion to R4.85bn in the year ended December.

3. Grande Parade Investments sees basic loss per share

Grand Parade Investments (GPI) said on Wednesday it expected a basic loss per share of between 7.94 and 8.52 cents for the six months ended December 31, down 372-392 percent from basic earnings per share of 2.92 cents in 2017.

4. Numsa to lead an indefinite shutdown of ArcelorMittal

The National Union of Metalworkers of South Africa (Numsa) will lead an indefinite shutdown of ArcelorMittal South Africa’s (Amsa) operations amid a strike over labour brokers.

5. WATCH: Rand stumbles after starting on the front foot

Appetite for risk assets was boosted by assurances made by the EU on Monday on the Brexit deal, allowing the rand to claw back some losses incurred over previous sessions.

6. SA to help Zimbabwe get back on its feet

South Africa would provide loans and financial assistance to help Zimbabwe get back on its feet, President Cyril Ramaphosa said at a meeting of the Bi-National Commission (BNC) in Harare yesterday.

7. Toyota aims for the moon with fuel cell lunar rover

Toyota and Japan's space agency are teaming up to develop a manned lunar rover that runs on fuel cell technologies.

BUSINESS REPORT ONLINE