Compiled by Dhivana Rajgopaul
CAPE TOWN - Good morning. This is all the latest business news that you need to know today.
1. Calgro targets return to profit in a year
JSE-listed Calgro M3, developer of integrated residential developments and of memorial parks, is targeting a return to profitability in 12 to 18 months as it reaps the benefits of significant restructuring, chief executive Wikus Lategan said yesterday.
2. Tourism in SA battling to recover with new Covid-19 surge overseas
South Africa’s tourism industry activity continued to decelerate, albeit at a slower pace in August as it struggled to make gains from the easing of Covid-19 lockdown restrictions to alert level 2.
3. Linde buyout offer a boost to Afrox shares
The share price of African Oxygen (Afrox) rose more than 42 percent on the JSE yesterday morning after the Linde Group signalled its intention to buy the shares of the gas and welding company that it does not already own and delist it from the bourse and the Namibian Stock Exchange.
4. Rand edges higher against the dollar
The South African currency continued to benefit from external factors, with attractive carry underpinning rand strength despite a brittle economic backdrop according to NKC Research.
5. South32 is in 'better shape to deliver value' says Chief Executive
Diversified global mining company South32 has lifted the suspension of its share buy-back on a robust outlook for its markets. Chief executive Graham Kerr said yesterday that the group was in better shape to deliver value to its shareholders.
6. SA could become top exporter of green hydrogen to the world
South Africa could become an effective exporter of cost-effective green hydrogen to the world, given its immense renewable energy potential, according to the inaugural PwC report on hydrogen published yesterday.
7. Record harvests gives agriculture sector a boost
Record harvests this season will not be able to stymie the country’s growing agricultural farm debt challenges.
BUSINESS REPORT