FILE PHOTO: The eBay logo is pictured on a screen in this photo illustration in New York
FILE PHOTO: The eBay logo is pictured on a screen in this photo illustration in New York

7 things you need to know today

By Compiled by Dhivana Rajgopaul Time of article published May 25, 2020

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

1. Green light to get economy back on track

President Cyril Ramaphosa has announced that the government was organising a number of sector protocols with the business sector as more lockdown restrictions would be relaxed to reopen the economy from June 1.

2. WATCH: Rand trades on a softer footing

The rand retreated as rising US-Sino tensions nipped burgeoning risk appetite in the bud according to NKC Research. 

3. Crackdown on companies that flout safety rules

The Department of Trade, Industry and Competition (dtic) plans to close down companies that flout Covid-19 regulations to protect the well-being of employees, as the government reopens the economy and eases the lockdown. 

4. Could HCI go into business rescue as Covid-19 infects hotel sector?

On Friday, President Cyril Ramaphosa met with representatives of the tourism industry who wanted to engage him on the impact of Covid-19 and plans to sustain the sector as part of his consultations with various sections of society.

5. Can maggots fuel sports drinks? South African startup thinks so

A South African startup aims to produce high-quality protein powder from maggots for use in food products and sports drinks by the end of the year.

6. Easing of South Africa lockdown may bring no joy for smokers

The imminent easing of lockdown rules in South Africa may bring no respite for smokers who’ve been contending with a tobacco sales ban for almost two months.

7. Naspers and Axel Springer in bid for eBay classifieds unit

South Africa’s Naspers Ltd. and an investor group backed by German publisher Axel Springer SE are among suitors that submitted bids for EBay Inc.’s classified-advertising business, according to people familiar with the matter.

BUSINESS REPORT ONLINE

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