7 things you need to know today
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Pick n Pay sees an increase in online orders in the past 10 days
South African retailer Pick n Pay has said that they have been preparing for the Covid-19 outbreak in South Africa for weeks and have assured their customers that they are doing all they can to help protect their staff and customers from the virus.
2. SAA cancels 162 flights due to coronavirus
South African Airways (SAA) said on Wednesday that it had cancelled 162 international and regional flights until the end of this month due to low demand and restrictions linked to the coronavirus.
3. Sibanye finalises agreements with Amplats to process its PGMs
Sibanye-Stillwater's Marikana facilities will provide processing capacity to offset the impact of Anglo American Platinum’s (Amplats) force majeure following an explosion last month.
4. Weak demand spurs oil price’s downwards trend
Oil continued its down trend on the JSE yesterday on weak demand despite an uptick in the Brent crude price, as risk sentiment relentlessly gripped the markets.
5. WATCH: Rand attempts to claw back previous day losses
The rand attempted to claw back previous day losses although gains were limited as global demand for the greenback surged according to NKC Research.
6. Sun International hit by coronavirus closures
In a blow for Sun International, the group has had to close down more of its operations in Latin America, with the latest closure in Chile due to the coronavirus.
7. Greenmarket Square traders vent after first facing Cape refugees crisis, now Covid-19
Greenmarket Square vendors fear for their businesses as tourists stay away because of Covid-19.
BUSINESS REPORT ONLINE