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7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 11, 2020

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

1. Vitality bookings with Comair 'are safe'

Discovery, South Africa’s biggest medical scheme, said last week that the troubles at Comair, which operates and British Airways, would not impact existing Discovery Vitality bookings.

2. WATCH: Rand extended gains during early morning trade

The South African rand clung to receding risk sentiment related to easing US-Sino trade tensions and optimism surrounding the gradual re-opening of economies across the globe according to NKC Research. 

3. Covid-19 tests could not be delivered

Covid-19 testing by the National Health Laboratory Services (NHLS) was challenging last week as test kits that were ordered could not be delivered due to logistical issues outside the control of the NHLS, a spokesperson said late Friday.

4. South Africa targets more nuclear power within 5 years

South Africa is drafting a plan to procure an additional 2,500 megawatts of nuclear power capacity within the next five years, according to the Department of Mineral Resources and Energy.

5. Tourism industry finds itself in dire circumstances

The closure of the tourism industry South Africa since March 26 due to the lockdown will mean business closures and has already resulted in the loss of thousands of jobs.

6. South Africa urged to end lockdown soon as economy bleeds jobs

South Africa needs to end a lockdown within weeks or Africa’s most industrialized economy could haemorrhage as many as four million jobs and contract by 16% this year, the nation’s main business group said.

7. Big spike in retrenchment applications, says CCMA

The commission for Conciliation Mediation and Arbitration (CCMA) has seen a massive spike of applications for large-scale retrenchments in terms of Section 189 of the Labour Relations during the national Covid-19 lockdown period, it said on Friday.


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