Business

Fin24.com | Salaries not keeping up with medical aid increases

Fin24.com | Salaries not keeping up with medical aid increases

Medical aid increases have not been keeping pace with salary raises, according to the eights GTC Medical Aid Survey. The financial services company, formerly Grant Thornton Capital, publishes the annual survey to assist its own consultants, financial planners and medical aid members to decide on the best plan to suit their pocket and needs. “The effect of these increases will […]

Fin24.com | Ramaphosa slams Moyane‘s objections to disciplinary as ‘sabotage‘ and ‘trite‘

Fin24.com | Ramaphosa slams Moyane‘s objections to disciplinary as ‘sabotage‘ and ‘trite‘

President Cyril Ramaphosa has dismissed at length suspended SARS commissioner Tom Moyane‘s objections to the procedural fairness of his disciplinary hearing.  In a 30-page affidavit submitted by Ramaphosa, the president outlines why the procedures are fair, despite several complaints laid by Moyane. The inquiry is set to take place on Saturday. “In fact, as will become apparent below, the Terms […]

Fin24.com | JSE advances as retailers and financials maintain momentum

Fin24.com | JSE advances as retailers and financials maintain momentum

The JSE advanced on Friday as retailers and financials continued to lift the local bourse higher. Blue-chips were trading mostly in positive territory which helped maintain the upward momentum on the JSE. Retailer Truworths [] was buoyed by the release of a positive trading statement for the full-year ended 1 July 2018. The stock added 3.22% to close at R79.24 […]

Fin24.com | Wiese: Forensic report will reveal what went wrong at Steinhoff

Fin24.com | Wiese: Forensic report will reveal what went wrong at Steinhoff

Former Steinhoff chairperson Christo Wiese said that the forensic investigation into the global retailer would ultimately reveal how accounting fraud took place. Wiese was speaking to on Friday. Grootes had asked him how the retailer was looted under his watch. Wiese said he had only become chairperson of Steinhoff in July 2016 and had chaired “exactly four board meetings” during […]

Fin24.com | Sasol sees profit falling up to 11% on R16bn charge

Fin24.com | Sasol sees profit falling up to 11% on R16bn charge

Sasol [] said full-year profit probably fell as the world’s biggest producer of fuel from coal takes a R16bn depreciation charge and accounts for expenses on share-based payments. Core headline earnings per share probably declined 1% to 11% in the year ended June 30 from the R38.47 reported 12 months earlier, the Johannesburg-based company said in a statement on Friday. […]

Fin24.com | Rand claws back after rates, GDP thump

Fin24.com | Rand claws back after rates, GDP thump

After weakening by more than 2% against the dollar on Thursday, the rand clawed back some losses in early trade on Friday. At 10:59 the local currency was trading 0.44% firmer at R13.46 to the dollar, after opening at R13.53.  It is still trading below Thursday morning‘s level of about R13.30/$. Wichard Cilliers of TreasuryONE said in a morning note […]

Fin24.com | AngloGold‘s Pityana warns SA on ‘reckless‘ mining rules

Fin24.com | AngloGold‘s Pityana warns SA on ‘reckless‘ mining rules

South Africa risks driving away new investment and crippling its mining sector if “reckless” new rules are implemented, according to AngloGold Ashanti [] chairperson Sipho Pityana. The latest Mining Charter, which is aimed at sharing the benefits of the country’s mineral wealth more equally among South Africans, doesn’t provide solutions to the industry’s challenges and will make it difficult for […]