File image: IOL
File image: IOL

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Jun 28, 2019

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

1. Criminal case is opened against a former Tongaat Hulett executive

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.

2. SA household finances are in dire straits

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.

3. Striking mineworkers at Lanxess victorious after making sacrifices - Numsa

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.

4. Swift action is needed to quell Sarb uncertainty, says analyst

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.

5. Investec to open bank branch in Australia

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

6. WATCH: Rands trades stronger due to flat dollar

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

7. LOOK: Abland's Atlantic Hills progressing well with 5 new Cape Town developments

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


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