Picture: ANA Archives
Picture: ANA Archives

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 19, 2020

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

1. WATCH: Rand trades firmer as thawing risk sentiment plays in its favour

The rand traded firmer as thawing risk sentiment played in its favour according to NKC Research. 

2. Acsa in bid to seek R11bn from the Treasury to guarantee its debts

Airports Company South Africa (Acsa) is planning to approach the National Treasury for support to guarantee up to R11billion of new debt by 2025 as the coronavirus pandemic continues to cripple the aviation industry.

3. Sars deadline reminder for employers to submit payroll information

The SA Revenue Service (Sars) has warned that time's running out for employers to submit their payroll information.

4. 'SA economy was bad before, but now it is much worse'

Economists have said that South Africa’s economy was in difficulty before the Covid-19 crisis and forecasts for the rest of the year are alarming.

5. R1.67bn paid from UIF to Western Cape workers

The National Department of Employment and Labour has paid out R1.67 billion from the UIF to workers in the Western Cape.

6. Another interest rate cut could give the rand some much-needed impetus

While the performance of the rand this week would be closely linked with the global risk sentiment, analysts believed it could react positively to another interest rate cut.

7. Platinum supply set to lose momentum this year

Platinum-mining supply was expected to lose its momentum this year due to the shutdowns to control the Covid-19 spread and repairs to the converter plant owned by Anglo American Platinum (Amplats), the World Platinum Investment Council (WPIC) said in a report published on Friday.

BUSINESS REPORT ONLINE

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