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. 

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 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.

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

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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.

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

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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.

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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. 

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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.

BUSINESS REPORT ONLINE