7 things you need to know today
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
First National Bank (FNB), a division of FirstRand, announced yesterday its clients could apply for a business loan through its Covid-19 loan scheme.
The economic devastation brought on by the coronavirus pandemic and the ensuing national lockdown has seen one in five businesses in the country laying off staff and a third of businesses working reduced hours.
The government said it was disappointed by S&P Global's decision to lower its long term foreign and local currency debt ratings further into non-investment grade to "BB-" and "BB" respectively due to Covid-19 related pressures.
The South African rand rode the tailwinds of improving risk appetite as promising drug trial results sparked hopes for a Covid-19 vaccine according to NKC Research.
Four weeks into lockdown, road freight, warehousing and distribution companies are reporting varying levels of impact on their businesses.
South Africa’s Unemployment Insurance Fund has paid out just over R3.3 billion to people whose work and income have been affected by the coronavirus pandemic and a lockdown to curb the spread of the virus.
South Africa’s gold industry output has dwindled to a fifth of its 1970s’ peak as ever-deepening shafts and higher costs take their toll.
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