CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
Attacq, the South African-based real estate investment trust (Reit) lifted its full-year dividend per share by 10.1 percent to 81.5 cents for the year ended June 30, 2019, exceeding the previously communicated guidance after its developments at Waterfall boosted results.
Moody’s on Tuesday gave South Africa a reprieve, saying it was unlikely to downgrade the country’s sovereign debt, but cut the country’s growth forecast to 0.7 percent from 1 percent in June.
The Master Drilling Group has set its sights on new opportunities in Russia and Australia to boost its revenue as its home market of South Africa continues to struggle with low economic growth.
Comprop, the unlisted shopping centre group, has accused the board of Safari Investments of taking a negative view of Comprop’s offer to buy the listed group.
Tiles manufacturer Italtile, the owner of the CTM and Top T brands, boosted its Broad Based-Black Economic Empowerment (BBBEE) credentials after it partnered with Yard Investment Holdings, which has subscribed for 26 400 000 ordinary shares in Italtile for a cash subscription amount of R312 million.
The cash-strapped Central Energy Fund (CEF) on Tuesday warned that its PetroSA plant would run out of gas reserves next year.
The South African currency remained on the front foot as ratings reprieve optimism outweighed weak China factory data according to NKC Research.
BUSINESS REPORT ONLINE