S&P warns recent civil unrest could dent GPD rebound

S&P Global Ratings has warned that the recent civil unrest could slightly dent the expected rebound in gross domestic product (GDP) for 2021. In a report yesterday, S&P said the civil unrest was a clear example of wide income inequality, increasing poverty levels and poor access to health service. South Africa has seen experienced widespread […]

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Unions apply to have Mango placed under business rescue

Workers’ union at Mango Airline have approached the Southern Gauteng High Court to file an urgent application to place the airline under business rescue to save it from liquidation. It was not clear at this point, however, what would be the implications of this decision for South African Airline’s (SAA’s) 51% strategic equity partner, Takatso […]

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Aspen to start J&J Covid-19 vaccine supplies to South Africa from Monday

Aspen Pharmacare will supply the first batch of the Johnson & Johnson Covid-19 vaccine to the country from July 26, said the drugmaker on Monday. It will be the first set of vaccines to be manufactured in the country from active pharmaceutical ingredients (API) – substances used to make the final drug product – sourced […]

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Food prices to remain high despite easing of consumer price inflation

Johannesburg – Food prices could remain relatively high in the short- to medium-term period due to recent supply disruption, in spite of consumer inflation easing from a 30-month high in June, said analysts yesterday. Data from Statistics South Africa (StatsSA) yesterday showed that annual consumer price index (CPI) eased to 4.9% year-on-year in June from […]

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Government set to announce social and economic relief measures

The government will soon announce a social and economic relief package to aid businesses and employees affected by the recent civil unrest to get back on their feet. This was a promise made by President Cyril Ramaphosa yesterday in a meeting with about 90% captains of industry that had been impacted by last week’s unrest, […]

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Amsa declares a force majeure over violent protests in KZN and Gauteng

Arcelormittal South Africa (Amsa), the country’s primary steel producer, has declared a force majeure with its customers following the violent protests and looting in KwaZulu-Natal and Gauteng last week. The violence that started when former President Jacob Zuma began serving his 15-month jail sentence morphed into civil unrest that saw the torching of trucks, the […]

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Struggling alcohol sector pleads for lifting of ban on booze sales

Johannesburg – The alcohol industry has called on President Cyril Ramaphosa to lift restrictions on the sale of alcohol, saying it cannot continue to endure a double pandemic of Covid-19 and poverty. The National Liquor Traders (NTL), representing 39, 000 township-based taverns, shebeens and bottle stores, wrote to Ramaphosa over the weekend pleading for the […]

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Sun International appoints Sam Sithole as chairperson

Johannesburg – JSE-listed hospitality and gaming group Sun International yesterday announced the appointment of Sam Sithole as its new chairperson while the group navigates the choppy Covid-19 environment. Sithole will replace Jabu Mabuza, who recently passed away due to Covid-19. Sun International chief executive Anthony Leeming said yesterday that Sithole brought a wealth of experience […]

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