Business

Fin24.com | Rand steady following release of CPI data

Fin24.com | Rand steady following release of CPI data

The rand was stable in the early afternoon on Wednesday, following by Stats SA.  CPI ticked up from 4.4% in May to 4.6% in June, which was slightly under the 4.8% expected by economists.  The local currency opened at R13.27 to the dollar and was trading at R13.33/$ at 12:18, 0.48% weaker on the day.  With no surprises in the […]

Fin24.com | National Treasury laments poor action over tender deviations

Fin24.com | National Treasury laments poor action over tender deviations

National Treasury has raised concerns over poor accountability for officials who abuse the public procurement system through deviations from tender processes without approval, saying the practice is rife in state-owned enterprises. Procurement through deviation is legally allowed in cases where it would be impractical to invite competitive bids. The process is conducted after approval from Treasury. Solly Tshitangano, chief director for […]

Fin24.com | EU set to fine Google billions over Android – sources

Fin24.com | EU set to fine Google billions over Android – sources

The EU is set to fine US internet giant Google several billion euros this week for freezing out rivals of its Android mobile phone system, sources said, in a ruling that risks fresh tensions with Washington. Competition Commissioner Margrethe Vestager is expected to say on Wednesday that Google abused its dominant position in the market by making tie-ups with phone […]

Fin24.com | Ramaphosa invokes his inner Mandela – for political ends

Fin24.com | Ramaphosa invokes his inner Mandela – for political ends

Emotions and tributes aside, the centenary of Nelson Mandela’s birth also heralds changing fortunes for both the ANC and the DA. Having Barack Obama seen together with President Cyril Ramaphosa in meetings, and on stage, adds to a sense of legitimacy and respectability for the South African president in the aftermath of the Zuma era. The optics for Ramaphosa are […]

Fin24.com | Big Mac Index: Rand should be trading at R5.63/$

Fin24.com | Big Mac Index: Rand should be trading at R5.63/$

The South African rand is undervalued against the dollar by as much as 57.9%, suggests the latest Big Mac Index, released annually by The Economist. First produced in 1986 “as a lighthearted guide to whether currencies are at their ‘correct‘ level”, the index uses purchasing-power parity – or the notion that in the long run, exchange rates should move towards […]

State to employ around 1000 customs and veterinary inspectors as part of Brexit contingency

State to employ around 1000 customs and veterinary inspectors as part of Brexit contingency

More than 1000 extra full-time customs and veterinary inspectors are to be employed as part of the government‘s contingency plans for Brexit, Independent.ie can reveal. The posts will be required to manage the major administrative burden imposed by the UK leaving the EU‘s customs union. Sign-off for the massive recruitment drive was given by cabinet this afternoon. Current and new […]

Vet challenges removal over wearing of Donald Trump mask while working at a meat plant

Vet challenges removal over wearing of Donald Trump mask while working at a meat plant

A vet is challenging a “savage” decision to remove him from all temporary inspector panels after he wore a Donald Trump mask while working at a meat plant. Dr Declan Gill wore the mask the day after the US presidential election “as a joke” and gave “a fist pump gesture a la Donald Trump” to a human resources manager there, […]