CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Sasol seeks additional gas supplies as it struggles with carbon emmissions
Petrochemicals giant Sasol said on Wednesday that it was exploring access to additional gas supplies coupled with renewable energy sources to boost its climate change response as the group faces mounting pressure to reduce its carbon footprint.
2. Africa’s ‘big five’ face 19% fall in oil production as demand slows
Global oil demand is estimated never to exceed 2019 levels, with energy markets having reached a tipping point.
3. Nutritional Holdings to enter Asian market with cannabidiol products
Nutritional Holdings said on Wednesday that it was positioning itself to enter the Asian market after it concluded a R780 million off-take agreement to supply cannabidiol (CBD) products in Japan, together with Ukusekela Holdings, for two years.
Higher activity levels in South Africa’s economic transactions continued to reflect signs of a recovery with the country’s growth rate on track to reach record levels in Q3 2020 and achieve strong upturn in the following quarter, according to BankservAfrica’s newly released October 2020 data.
5. Embattled PPC shakes off its cement shoes in double dollop of good news
The country’s largest cement maker, PPC, which is struggling for financial survival, on Monday received a double dollop of good news after it was granted immunity from a long-standing competition case and announced strong cement sales.
6. Rand trades on the back foot after President’s address
The local currency traded softer as South Africans awaited President Ramaphosa’s evening address with abated breath, although lingering global risk-on mood softened the impact of domestic developments according to NKC Research.
7. Kumba Iron Ore aims to cut greenhouse gas emissions by 30%
Kumba Iron Ore aims to slash greenhouse gas emissions by 30 percent and improve its energy intensity by 30 percent against its 2016 baseline by 2030, the group said in its annual sustainability report published on Wednesday.
BUSINESS REPORT ONLINE