File image: IOL
File image: IOL

7 things you need to know today

By Compiled by Dhvana Rajgopaul Time of article published May 12, 2020

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

1. Vodacom ends March with better-than-expected revenue

Vodacom ended March with a better-than-expected revenue and declared a dividend driven by the solid performance from its international operations, demonstrating resilience in the face of Covid-19.

2. SA copyright coalition lockdown promoting piracy

The Copyright Coalition of South Africa said on Tuesday it was concerned that what it called the disjointed approach to easing Covid-19 lockdown regulations in South Africa in relation to the publishing industry was encouraging piracy.

3. Ramaphosa: government mulling further relaxation of the lockdown

President Cyril Ramaphosa has given the strongest indication yet that the government was considering further lowering the coronavirus lockdown measures as evidence showed that the pandemic would remain a threat to global public health for some time.

4. WATCH: Rand stumbles due to fears of a second wave of Covid-19 cases

The South African rand traded weaker against a rising greenback yesterday. Investors opted for safer assets as optimism of a global recovery subsided after a second wave of the coronavirus hit countries in Asia and Europe according to NKC Research. 

5. Smoking ban proves to be efficient, study finds

Two Human Science Research Council (HSRC) surveys show that 88 percent of smokers are not able to buy cigarettes during the lockdown, suggesting that the ban is efficient in reducing cigarette access and use.

6. Vodacom postpones issuance of its medium-term guidance

Vodacom today postponed the issuance of its medium-term guidance given the effects of the Covid-19 pandemic and the uncertain outlook for the countries it operates in, as it reported higher revenue during the year ended March 2020. 

7. SAB, government agree on transportation of beer

The South African Breweries (SAB) said in a statement on Monday it had agreed on a way forward with the government to safely transport its packaged inventory, both alcoholic and non-alcoholic, from its manufacturing plants to its depots in the next few weeks.

BUSINESS REPORT ONLINE

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