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

1. Fuel costs, VAT hike see sales lose froth - AB InBev

Anheuser-Busch InBev (AB InBev), the world’s biggest brewer, whose flagship brands include Castle Lager and Budweiser, said yesterday that South Africa’s booze consumption sank last year as rising fuel costs and the VAT hike put pressure on cash strapped consumers.

2. Group Five may have to cut more staff

Group Five might need to retrench more people than it had anticipated, the business rescue practitioners said yesterday.

3. More Huawei P30 leaks revealed ahead of the launch today

On Tuesday the 26th of March, Huawei is set to launch its new smartphone range, the Huawei P30.

4. 80% of Project Management tasks could be eliminated by 2030 due to AI

Data and analytics firm Gartner released data which suggested that by 2030, 80 percent of the work of today’s project management (PM) discipline will be eliminated as artificial intelligence (AI) takes on traditional PM functions such as data collection, tracking and reporting.

5. EOH continues to slide on profit warning

EOH holdings, the troubled Johannesburg-headquartered technology services company, continued its slide on the JSE yesterday after it flagged that its profits could take a hit on the back of the termination of a contract with Microsoft.

6. WATCH: Rand fails to benefit from greenback weakness

The South African currency managed to claw back losses, it failed to fully benefit from broad-based greenback weakness as domestic equities remain under pressure amid local growth concerns. 

7. The 9th Global Business roundtable to take place in Johannesburg

Two of the most urgent issues facing the global economy will be centre stage at the 9th Annual Global Business Roundtable (GBR) taking place in Johannesburg towards the end of March.