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

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Tongaat Hulett confirmed yesterday that a criminal case has been opened against a former executive in the company and the matter is up for investigation by the South African police.

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The South African Reserve Bank (SARB) yesterday painted a bleak picture of household finances, saying household expenditure had tanked for the first time in three years.

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The National Union of Metalworkers of South Africa (Numsa) on Friday praised its members who ended a nine-day strike at Lanxess Chrome Mine, saying they had risked their lives to take a stand against sexual harassment.

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A swift move by President Cyril Ramaphosa to make appointments at the South African Reserve Bank (Sarb) is essential to maintain confidence in the institution as a second Sarb deputy governor, Daniel Mminele, resigned a mere six months after Francois Groepe, analysts said yesterday.

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Investec Plc will open a branch in Australia in a push to expand its international network, the bank said on Thursday.

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The South African currency traded stronger yesterday thanks to a flat US dollar and some positive local data release according to NKC Research. 

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Abland, one of South Africa’s leading property developers for over 30 years, has announced five new developments.

BUSINESS REPORT ONLINE