File Photo: IOL

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

1. Wescoal earnings slide 62% in 'disappointing' results

Mining company Wescoal on Tuesday reported a 12 percent increase to R3.965 billion in revenue for the year ended March 31, while headline earnings per share dropped 62 percent to 17.5 cents.

2. China commits $10 billion to mining infrastructure growth

China and South Africa have cemented good relations by developing mining infrastructure through the progressive Belt and Road Initiative (BRI). 

3. SA govt hosts business forum for UAE trade, investment delegation

The government will on Tuesday meet a United Arab Emirates delegation on a trade and investment mission to Johannesburg to garner the knowledge and contacts necessary to do business in South Africa for UAE-based companies.

4. Astral signs water emergency agreement

Astral Foods said yesterday that it had signed an emergency agreement with Standerton Municipality as an interim measure to stave off the current water crisis after a number of national government departments stepped in.

5. State-owned Denel unable to pay full salaries to staff

The embattled state-owned entity Denel is unable to pay full salaries to their staff this month. 

6. Matshepo More denies interfering with PIC witnesses

The Commission of Inquiry into alleged improprieties at the Public Investment Corporation (PIC), heard on Monday, how evidence leader Advocate Jannie Lubbe’s legal team was reported to the board of the PIC for acting improperly with regard to the taking of statements from potential witnesses.

7. Invicta Holdings lifts profits by 21%

“We have taken all the wrinkles out of the business,”  Invicta Holdings chief executive Arnold Goldstone said yesterday.

BUSINESS REPORT ONLINE