File image: James White
File image: James White

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published Sep 11, 2019

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

1. Waterfall completes 7 buildings, boosts Attacq's full-year dividend by 10.1%

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.

2. SA looks set to dodge Moody's ratings bullet

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.

3. Master Drilling digs deeper for new revenues as SA struggles

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.

4. Comprop takes Safari board to task for ‘negative view’ of offer

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. 

5.Italtile boosts BBBEE rating by partnering with SA's Yard

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.

6. PetroSA reports R382.3 million net loss, will run out of gas reserves next year

The cash-strapped Central Energy Fund (CEF) on Tuesday warned that its PetroSA plant would run out of gas reserves next year.

7. WATCH: Rand remains on the front foot against the dollar

The South African currency remained on the front foot as ratings reprieve optimism outweighed weak China factory data according to NKC Research.


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