CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. SABC board, management meet Deputy Minister Pinky Kekana
The South African Broadcasting Corporation (SABC) board and management met with Deputy Minister of Communications and Digital Technologies, Pinky Kekana -- who has been delegated oversight of the SABC.
2. New cap on Single Exit Price welcomed
The announcement by Health Minister Zweli Mkhize, that the Single Exit Price (SEP) of medicines and scheduled substances may be adjusted to a maximum of 4.53percent of the SEP of medicines and their related pack sizes, has been welcomed by the industry.
3. Aspersions cast on chicken industry in SA
In a column titled “SA trade policy is a dumping gateway to our neighbours” (December 9), fair trade advocacy movement FairPlay pointed the finger at South Africa’s exporters for “allowing chicken imports to cause untold damage to the poultry industries, and the economies of (South Africa’s) neighbouring countries”.
4. WATCH: Rand continues to drift weaker overnight
The South African currency rode the tailwinds of an interim deal between Washington and Beijing, at the start of a shorthand trading week, sheltering the local unit from domestic woes according to NKC Research.
5. Ascendis shares down after Remedica disposal talks end
Ascendis Health shares fell by more than 19 percent on the JSE yesterday after the South African-based global health care company announced that it has terminated negotiations with the preferred bidder for the disposal of its subsidiary, Remedica.
6. Mantashe promises to tap IPPs for power
The government yesterday announced moves to stabilise the security of the country’s power supply by resuscitating the Energy War Room at Eskom and acquiring additional electricity from independent power producers (IPPs) following 10 days of devastating power cuts this month.
7. Old Mutual feud with fired CEO risks thwarting growth ambitions
Old Mutual Ltd.’s homecoming may get even rockier next year as an ongoing battle with its former head risks distracting the South African insurer from handling weak economic growth and rising competition.