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Fin24.com | Tougher crackdown on the cards from competition authorities – minister

Fin24.com | Tougher crackdown on the cards from competition authorities – minister

Cape Town – The Competition Amendment Bill will allow for first-time offenders in competition laws to be fined by regulators, Minister of Economic Development Ebrahim Patel has said. Penalties will also be higher for repeat offenders. Patel was speaking to reporters in Parliament on Tuesday, following his briefing of the portfolio committee on economic development about the amendments to the […]

Fin24.com | Transport dept off the hook for R33m eNaTIS payment

Fin24.com | Transport dept off the hook for R33m eNaTIS payment

The Constitutional Court on Tuesday ruled in favour of the Transport Department, dismissing an appeal by Tasima over a ruling to have the National Traffic Information System (eNaTIS) and other, related services handed over to the Road Traffic Management Corporation (RTMC). Tasima‘s application was dismissed with costs. Earlier on Wednesday, Transport Minister Blade Nzimande issued a statement welcoming the court‘s […]

Fin24.com | Massive diamond cache detected beneath Earth‘s surface

Fin24.com | Massive diamond cache detected beneath Earth‘s surface

Washington – There‘s a load of bling buried in the Earth. More than a quadrillion tons of diamonds to be exact – or one thousand times more than one trillion – US researchers at the Massachusetts Institute of Technology (MIT) reported this week. But don‘t expect a diamond rush. These naturally occurring precious minerals are located far deeper than any […]

Fin24.com | MTN said to mull West African unit sale in markets cull

Fin24.com | MTN said to mull West African unit sale in markets cull

MTN’s [] sale of its Cyprus unit is just the start of a broader exit from small or problematic markets, with the Liberian unit leading a number of West African divisions being considered for disposal, according to people familiar with the matter. Africa’s largest mobile-phone company by subscribers sees the Liberia, Guinea and Guinea-Bissau businesses as ones it could do […]

Fin24.com | Boris Johnson: ‘Not too late to save Brexit‘

Fin24.com | Boris Johnson: ‘Not too late to save Brexit‘

London – Former foreign minister Boris Johnson urged the British government on Wednesday to change its strategy for leaving the European Union (EU), telling members of Parliament (MPs) it was “not too late to save Brexit”. In his first speech to the House of Commons , the leading eurosceptic repeated his criticism of Prime Minister Theresa May‘s plan for close […]

Fin24.com | SA Post Office and trade unions reach salary agreement

Fin24.com | SA Post Office and trade unions reach salary agreement

The South African Post Office (SAPO) and trade unions have reached an agreement over salary increases and other issues, bringing an end to a strike which started on July 3. According to a statement issued by SAPO on Wednesday evening, an agreement was signed between the post office, the Communication Workers Union (CWU), the Democratic Postal Workers Union (Depacu), and […]

Fin24.com | Treasury, SARS call for comment on tax law amendments

Fin24.com | Treasury, SARS call for comment on tax law amendments

National Treasury and the South African Revenue Service (SARS) are giving South Africans until the middle of August to submit written comments on the newly published Taxation Laws Amendment Bill and the Tax Administration Laws Amendment Bill. The two draft laws, which were released in February during the budget review, seek to introduce tax reforms which allow for the introduction […]