Good morning. This is all the latest business news that you need to know today.
1. Rand and domestic stocks take a pounding
The increasingly hawkish tone of the US Federal Open Market Committee (FOMC) meeting added to the rand’s woes yesterday, sending the currency to its weakest against the dollar in two weeks.
2. Implats adds to SA's economic woes
Implats yesterday added to South Africa’s economic woes, announcing that it planned to retrench 13000 employees in the next two years as part of a restructuring programme just days after information emerged that the country had shed nearly 300000 in the second quarter.
3. Prasa gets another life line
Passenger Rail Agency of South Africa (Prasa) yesterday received a stay of execution after the Railway Safety Regulator (RSR) issued it with a Temporary Safety Permit valid until the end of this month.
4. Kathu Solar Park in Northern Cape starts salt melting process to generate electricity
The Kathu Solar Park in the Northern Cape on Thursday announced it has started a salt melting process to generate electricity in the absence of solar radiation.
5. Regulators prohibit Murray & Roberts from seeking Aveng tie-up
South Africa’s Murray & Roberts said on Thursday regulators have prohibited the construction firm from seeking a merger with rival Aveng Ltd.
6.AngloGold Ashanti increase HY2018 production, earnings from retained assets
AngloGold Ashanti said on Thursday that it expected production from retained operations to increase by four percent from 1.517 million ounces to 1.578 million ounces for the six months ended 30 June 2018.
7. This is a new beginning, says Mnangagwa after Zimbabwe election victory
Zimbabwe's President Emmerson Mnangagwa said Friday that he was "humbled" to have won the country's landmark election, hailing it as a "new beginning" after the ousting of autocrat Robert Mugabe.