Category: Business

The Airline Operators of Nigeria (AON) have kicked against the recent commencement of an additional flight daily into Nigeria by Emirates Airline. They said this came a few weeks after Nigerian carrier, Air Peace, began flight on the lucrative United Arab Emirates (UAE) route. AON chairperson, Captain Nogie Meggisson said, in a statement issued on […]

MTN batteries valued at almost R1-million have been recovered from a house in Pretoria. Police and security personnel helped in the recovery after a shootout on Saturday. The company has seen a rise in battery theft at cellphone towers across the country. In April, over 700 MTN batteries were stolen. The company’s calling on the […]

Luxury sports carmaker Ferrari beat analyst expectations as sales and profits accelerated in the second quarter despite the global auto market hitting the brakes. The 14 percent increase to 184 million euros ($204-million) in net profit easily beat the 160 million euros analyst consensus established by financial data provider Factset as the firm continued to […]

Despite two deadly shootings at its stores in less than a week, American retail giant Walmart has no plans to stop selling guns and ammunition, a spokesman said Sunday. A man opened fire with an assault rifle at a Walmart in Texas on Saturday, killing 20 people, just four days after a disgruntled employee shot […]

The development of liquefied natural gas (LNG) could help transform the South African economy, spur re-industrialisation, reduce the country’s over-reliance on coal-fired power stations, and contribute to increased regional trade. South Africa has in recent years run into electricity shortages, forcing the country’s utility to burn expensive diesel to keep the lights on. A major polluter, the […]

German high-end carmaker BMW on Thursday reported slumping second-quarter profits, with pricey investment in electric cars sapping the bottom line, but it remained confident of hitting targets. Net profit at BMW fell 28,7% compared with a year earlier in the April-June period to €1,5-billion ($1,7-billion). Chief executive Harald Krueger said the Munich-based group was investing […]

President Donald Trump announced on Thursday he will hit China with punitive tariffs on another $300 billion in goods, escalating the trade war after accusing Beijing of reneging on more promises. The 10 percent duties will take effect September 1, and come on top of the 25 percent tariffs on $250 billion in imports — meaning Trump now has targeted virtually all […]

Vultures are circling the bank, and the omens are not good. South African Reserve Bank (Sarb) is a clear target for capture by politicians intent on spending their way out of trouble. This much is clear from the debate within the ANC over expanding the Sarb’s narrow mandate to curtail inflation, and growing pressure from […]

Will South Africa have to go to the International Monetary Fund, begging bowl in hand? There is no question the country’s economic situation is dire. Investment is flowing out while corporates are hoarding their cash. With state-owned enterprises needing more bailouts and another surge in the unemployment rate of over 29 percent, it looks increasingly like South Africa might […]

The South African Revenue Service has suspended three key executives. Hlengani Mathebula, Teboho Mokoena, and Luther Lebelo have been placed on precautionary suspension pending the finalisation of a disciplinary process. Their suspension is over serious misconduct allegations. “This is part of an ongoing comprehensive review of the whole SARS leadership by the Commissioner in terms […]