South Africa’s first fully licensed digital-only bank, TymeBank, is due to go live in 500 Pick n Pay and Boxer stores next week. PHOTO: Supplied

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

1. Standard Bank interim earnings up 5 percent

 Standard Bank on Thursday reported a five percent increase to 837 cents in headline earnings per share for the six months to June 30 and declared a dividend of 454 cents per share, up six percent from the same period last year.

2. WATCH: Rand slips close to a two-month low against the greenback

The rand slipped close to a two-month low against the greenback during yesterday’s European session according to NKC Research. 

3. Aveng sells Duraset Alrode engineering supplier for R50 million in cash

Beleaguered construction group Aveng has sold its Aveng Duraset Alrode engineering supplier operation for R50 million in cash as part of its strategy to reduce debt and dispose of non-core assets.

4. Cell C rings in new era with Douglas Stevenson at the helm

Cash strapped Cell C rang in a new era yesterday as it  appointed Douglas Craigie Stevenson as its new chief executive.

5. Fledgling TymeBank targets 1 million clients by year-end

The newly appointed chief executive of TymeBank, Tauriq Keraan, said on Wednesday that he was confident the fledgling bank would hit the 1 million customer mark before the end of the year as the bank readied itself to launch its unsecured loan product in the first half of next year.

6. Busa, BBC and Nedlac co-operation agreement

Business Unity South Africa (Busa) and the Black Business Council (BBC) have signed an agreement to collaborate on broad-based black economic empowerment and socio-economic transformation, small, medium and micro-sized enterprises development, infrastructure development and the Fourth Industrial Revolution, as these are among the most pressing challenges facing the country. 

7. Municipalities, SOEs inhibiting growth – Sacci

The South African Chamber of Commerce and Industry (Sacci) on Wednesday warned the government that the financial doldrums of state-owned enterprises (SOEs) and local government were inhibiting economic performance and weighing on sentiment.