File image: IOL

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

1. SAA needs R4bn to survive its financial year

The newly appointed acting chief executive of SAA, Zukisa Ramasia, will have to hit the ground running after the board of the embattled national carrier said it would need an additional R4 billion in immediate liquidity to survive the current financial year.

2. WATCH: China and Egypt partnership with BRI

In September, Egypt’s president Abdel-Fattah Al-Sisi visited China for the 2018 Beijing summit Forum on China-Africa Cooperation (FOCAC), the 5th visit since taking office in 2014. 

3. FSCA says Public Protector’s report ‘based on criminal's say-so’

Public protector Advocate Busisiwe Mkhwebane’s adverse ruling against the Financial Sector Conduct Authority (FSCA), formerly the Financial Services Board, was heavily reliant on information from a known criminal who looted millions from a series of pension funds in dodgy deals.

4. Finance Minister Tito Mboweni slammed over Reserve Bank mandate

The SA Communist Party has slammed Finance Minister Tito Mboweni and other ANC leaders who have expressed their opposition to the expansion of the mandate of the SA Reserve Bank (Sarb).

5. Taste Holdings brewing up return to profitability in the long run

After completing its restructuring strategy last year, Taste Holdings has set its sights on returning to profitability in the long run, with more store openings planned for both Starbucks and Domino’s Pizza.

6. WATCH: Rand weakens over the weekend

The rand broke through technical resistance to hit the worst level in eight months amid ongoing attacks on central bank independence and perceived deterioration in policy credibility according to NKC Research.

7. Transnet pleased with 29% cruise passenger increase

Transnet National Ports Authority(TNPA) in Durban says the 29 percent cruise passenger increases spell better prospects for the local sector in the future.