South Africa - Johannesburg - 11 December 2018 - Discovery building, Sandton. Picture: Karen Sandison/African News Agency(ANA)

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

1. Shares on the JSE lost almost all the gains for the year

The ongoing negative global and domestic perceptions towards risky financial assets continued last week, wiping almost all the gains out on the JSE for the year to date. On Friday afternoon, the ALSI ended on 53874.

2. City Lodge pushing expansion in spite of decline in occupancy

City Lodge is forging ahead with its expansion plans despite experiencing a decline in its occupancy rate in the country for the year to the end of June.

3. Discovery moves to shore up share price

Discovery on Friday moved to arrest the sharp decline in its share price since the release of the National Health Insurance (NHI) Bill.

4. The National Credit Amendment Bill is now set to become law

South Africa’s banks are set for more pressure on their bottom line with the controversial National Credit Amendment Bill set to become law after President Ramaphosa anointed the bill. 

5. Sasol tanks as it postpones release of results due to Lake Charles weaknesses

Sasol’s share price fell as much as 16 percent on the JSE on Friday morning after the international integrated chemicals and energy company said it had postponed the release of its 2019 results after spotting some weaknesses in its Lake Charles Chemicals Project (LCCP).

6. Nehawu wants the entire Necsa board to be fired after court finding

The National Education, Health and Allied Workers’ Union (Nehawu), South Africa’s largest public-sector union, has called for the sacking of the board of the South African Nuclear Energy Corporation (Necsa) after the North Gauteng High Court found on Friday that the decision by former energy minister Jeff Radebe to axe the previous board was unlawful.

7. WATCH: Rand trades marginally stronger against the dollar

The South African currency began Friday’s trading session on a firmer footing in tandem with improving global risk sentiment, buoyed by hopes of China stimulus according to NKC Research. 

BUSINESS REPORT ONLINE