Asset News Hub

2023-12-01 16:48:00.0

Business brief | The real cost of Transnet, and British group buys huge stake in Natref

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

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2023-12-01 15:40:00.0

Prescient favours SA bonds despite fiscal risks

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Garth Theunissen.

Asset News Hub

2023-12-01 15:38:00.0

COP28 | Ramaphosa slams 'unilateral, coercive' trade measures to tackle climate change

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Lameez Omarjee.

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2023-12-01 14:17:00.0

New data confirms the shift in consumer preferences and priorities this festive season

South Africans are anticipated to spend an estimated R224 billion during 2023’s festive season, according to the sixth annual Summer Spending Survey by short-term lender, Wonga. With data collected fr...

Asset News Hub

2023-12-01 14:02:00.0

SA extends special permits for foreign nationals

South Africa will extend special permits granted to immigrants from Zimbabwe and Lesotho by two years after the Supreme Court of Appeal barred the authorities from rescinding them. The government deci...

by S'thembile Cele.

Asset News Hub

2023-12-01 13:59:00.0

Large cut in diesel price confirmed, petrol also cheaper next week

For more financial news, go to the News24 Business front page. The petrol price will be cut by 65c on Wednesday, while diesel prices will be lowered by between R2.35 and R2.41 a litre. The wholesale p...

Asset News Hub

2023-12-01 12:29:00.0

SA factory manager outlook worst since Covid lockdown

Factory managers in South Africa are the most pessimistic they’ve been about the outlook for business conditions since the strictest months of a Covid-19 lockdown three years ago, amid continuing powe...

by Simbarashe Gumbo.

Asset News Hub

2023-12-01 12:23:00.0

Sarb’s Tshazibana sees case for rates staying higher for longer

Tshazibana said that was because the government needed to borrow more at a time when global interest rates were higher and the country was seen as riskier. South African central bank deputy governor F...

by Kopano Gumbi.

Asset News Hub

2023-12-01 11:52:00.0

Oil holds losses as traders take skeptical view of OPEC+ cut

Brent for February settlement slipped 0.16% to $80.99 a barrel at 9:34 a.m. in London. Oil held losses after OPEC+’s promised further output cuts but was hazy on details. Brent crude for February trad...

by Yongchang Chin and Alex Longley.

Asset News Hub

2023-12-01 10:56:00.0

Transnet bond jumps by record on $2.5bn South African aid

Derailments, equipment shortages, vandalism, corruption and even weather have hobbled Transnet’s operations. Transnet’s bonds gained the most on record after South Africa’s National Treasury agreed to...

by Paul Burkhardt and S'thembile Cele.

Asset News Hub

2023-12-01 10:02:00.0

Evergrande creditors demand controlling stakes in new proposal

It’s unclear whether Evergrande has responded to the proposal or whether it will mark a step closer to an agreement. A group of offshore creditors to China Evergrande Group is demanding controlling eq...

by Eliza Ronalds-Hannon and Erin Hudson.

Asset News Hub

2023-12-01 09:39:00.0

RE/MAX Commercial: Versatile business space in Wendywood, Sandton for sale

Welcome to this versatile business space in the heart of Wendywood, Sandton which presents a unique opportunity for a range of ventures. Erf 343, with an expansive size of 2 762m2, offers a myriad of...

2023-12-01 09:00:00.0

Peltz’s Trian plans to seek Disney board seats after request is rejected

Walt Disney Co restored its dividend and tightened the rules for nominations to its board, responding to the planned proxy fight announced earlier Thursday by billionaire activist Nelson Peltz. Peltz’...

by Crystal Tse and Thomas Buckley, Bloomberg.

Asset News Hub

2023-12-01 08:54:00.0

Rand little changed ahead of comments by Fed’s Powell

The rand was little changed in early trade on Friday, as investors awaited comments by Federal Reserve Chair Jerome Powell later in the day for clues on the Fed’s future interest rate path. With no ma...

by Bhargav Acharya.

Asset News Hub

2023-12-01 08:44:00.0

Tiger Brands passes on some costs, but experiences margin pressure

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Nick Wilson.

Asset News Hub

2023-12-01 08:38:00.0

SA’s four-day work week trial shows…

South Africa’s first four-day work week trial shows some differences from other countries that have tried the switch — less than one in four employees took Fridays off. Among the 28 companies that sta...

by Janice Kew.

Asset News Hub

2023-12-01 08:36:00.0

South Africa warns others not to go from electricity to darkness

Environment Minister Barbara Creecy urged developing nations to make sure energy security and jobs are prioritised in any arrangement. One of the architects of South Africa’s groundbreaking deal with ...

by Mike Cohen and Jennifer Zabasajja.

Asset News Hub

2023-12-01 07:45:00.0

Zimbabwe plans wealth tax, new lithium levy to boost revenue

‘Resources derived from the levy will be ring-fenced toward urban infrastructure development, in particular roads, water, sewers and community health centers,’ Ncube told lawmakers. Zimbabwe introduce...

by Godfrey Marawanyika and Ray Ndlovu.

Asset News Hub

2023-12-01 06:41:00.0

Treasury announces immediate support package for Transnet

For more financial news, go to the News24 Business front page. Treasury has issued an R47 billion guarantee to Transnet to deal with immediate debt obligations and to support its recovery plan, it sai...

by Carol Paton.

Asset News Hub

2023-12-01 06:20:00.0

Transnet gets R47bn Treasury ‘support package’

Crisis-hit state ports and logistics monopoly Transnet will get a bail-out, with National Treasury confirming that it has issued the group with “a support package of R47 billion to support a recovery ...

by Suren Naidoo.

Asset News Hub

2023-12-01 06:12:00.0

Tiger Brands annual profit rises marginally

Headline earnings per share rose to 1,735 cents in the 12 months ended on September 30, from 1,702.4 cents. Tiger Brands on Friday reported a 2% rise in annual profit, supported by better-than-expecte...

by Nqobile Dludla.

Asset News Hub

2023-12-01 05:29:00.0

SA producer inflation up on double digit jump in fuel prices

South African producer inflation rose for a third straight month in October after a double-digit jump in gasoline prices, but subsequent declines in fuel costs could ease pressures going forward. The ...

by Simbarashe Gumbo.

Asset News Hub

2023-12-01 03:03:00.0

Sanral reverts to BEE scorecard to score tenders after court action

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Carol Paton.

Asset News Hub

2023-12-01 03:01:00.0

Spar has taken its 'medicine' - but a full recovery may take two years

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Nick Wilson.

Asset News Hub

2023-12-01 03:00:00.0

Battle over 3Sixty Life: Clash between curator, Numsa Investment Company intensifies

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Garth Theunissen.

Asset News Hub

2023-12-01 02:03:00.0

V&A Waterfront to commission R184m desalination plant early 2024

JSE-listed Growthpoint Properties and the Public Investment Corporation (PIC), equal joint owners of the Victoria & Alfred (V&A) Waterfront in Cape Town, will be commissioning a R184 million desalinat...

by Roy Cokayne.

Asset News Hub

2023-12-01 02:03:00.0

Fund managers bullish on local equities

A recent survey of institutional fund managers in SA by Bank of America found that most of the local fund managers who participated in the survey believe that SA equities are undervalued and that hold...

by Adriaan Kruger.

Asset News Hub

2023-12-01 02:00:00.0

Inflows down 28%; why EasyEquities had to implement ‘that’ R25 fee

The real horror is in trading revenue from retail deposits. It halved. The underlying reasons for EasyEquities’s contentious implementation of an ‘effective’ R25 monthly platform fee for non-regular ...

by Moneyweb.

Asset News Hub

2023-11-30 22:01:00.0

Balancing people, planet, profit on our pathway to Net Zero

The recent disruption to our Annual General Meeting, and the fervent discussions that preceded it, reflect the strong interest many have in Sasol and our commitment to climate action. Notwithstanding ...

by Fleetwood Grobler.

Asset News Hub

2023-11-30 22:00:00.0

Fortress’ AbaQulusi Plaza shopping centre extension complete

Fortress Retail’s AbaQulusi Plaza, formerly Vryheid Plaza, has reopened its doors after an eighteen-month redevelopment programme. Vryheid is the main service and retail hub for the AbaQulusi Municipa...

by PropertyWheel_G.

Asset News Hub

2023-11-30 22:00:00.0

admyt announces transformative fundraise backed by REdimension Capital

admyt, the leading ticketless parking company, has announced that it has agreed to terms with REdimension Capital regarding a c.R30 million investment in the company. The funds will be used to drive p...

Asset News Hub

2023-11-30 22:00:00.0

No surcharge on electricity for Glencore’s Rustenburg smelter – court

The High Court in Johannesburg recently set aside a decision by energy regulator Nersa to exclude Glencore’s struggling Rustenburg ferrochrome smelter from a negotiated pricing agreement for four of t...

by Moneyweb.

Asset News Hub

2023-11-30 17:24:00.0

Two companies get govt go-ahead to run first battery projects at Eskom substations

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Sikonathi Mantshantsha.

Asset News Hub

2023-11-30 15:52:00.0

4-day work week: More South Africans use day off for side hustles than long weekend

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

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2023-11-30 13:53:00.0

This has been the hottest November on record - and more heat is on the way

The highest temperature was recorded at Augrabies Falls at 46.7°C on 27 November. For climate change news and analysis, go to News24 Climate Future. A recent heatwave in the northeastern parts of the ...

by Lameez Omarjee.

Asset News Hub

2023-11-30 13:52:00.0

Tongaat creditors to choose between Gumede group rescue plan and one from rival bidder

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Ahmed Areff.

Asset News Hub

2023-11-30 13:08:00.0

Stanlib to invest $160m in Africa renewables via new fund

It aims to be running by the end of the first quarter and to grow assets to $1 billion in three to five years, targeting investors such as pension funds, insurance companies and development institutio...

by Timothy Rangongo.

Asset News Hub

2023-11-30 11:28:00.0

SA makes some progress on exiting greylist

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Garth Theunissen.

Asset News Hub

2023-11-30 10:20:00.0

COP28 checklist: Here's what South Africans need to know

President Cyril Ramaphosa will lead the SA delegation at the UN climate conference, COP28. The president will also update the International Partners Group on the Just Energy Transition-Implementation ...

by Jan-Hendrik de Villiers and Lameez Omarjee.

Asset News Hub

2023-11-30 10:13:00.0

Rand falls victim to SA’s ‘noise’ in dismal November

Currency is on track for a 0.3% decline against the dollar this month. November has been good to South Africa’s rand for the past five years. This time is different. South Africa’s currency is on tra...

by Colleen Goko.

Asset News Hub

2023-11-30 10:13:00.0

Rand falls victim to SA’s 'noise’ in dismal November

For more financial news, go to the News24 Business front page. November has been good to South Africa’s rand for the past five years. This time is different. South Africa’s currency is on track for a...

by Colleen Goko.

Asset News Hub

2023-11-30 10:04:00.0

SA posts 4.6% year-on-year residential rental growth, fastest since 2017

The residential rental market has recorded uninterrupted growth for the eighth consecutive quarter during Q3 2023, according to PayProp’s latest Rental Index. Landlords enjoyed year-on-year earnings g...

Asset News Hub

2023-11-30 08:38:00.0

SA sees progress in effort to get off dirty-money list

The Paris-based body has given South Africa until the end of January 2025, to address the shortcomings. A new report by the Financial Action Task Force shows South Africa is making progress in its eff...

by Paul Richardson.

Asset News Hub

2023-11-30 08:31:00.0

SAP rollout bungle costs Spar R1.6bn

The poor implementation of Spar Group’s new SAP software system at its distribution centre (DC) in KwaZulu-Natal has resulted in an estimated turnover loss of R1.6 billion for the financial period end...

by Akhona Matshoba.

Asset News Hub

2023-11-30 07:48:00.0

RAF stops R2.6bn in fraudulent claims over past three years

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Garth Theunissen.

Asset News Hub

2023-11-30 07:44:00.0

Sarb sees stress on lenders from high rates

‘The longer interest rates remain high, combined with cost-of living increases, the more borrowers will experience strain,’ the central bank said. The Sarb said the quality of bank loan books has suff...

by Ntando Thukwana.

Asset News Hub

2023-11-30 07:00:00.0

Spar holds back on final dividend amid R1.6bn profit plunge

South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join...

by Nick Wilson.

Asset News Hub

2023-11-30 06:28:00.0

Implats to restart platinum mine after death of 12 workers

For more financial news, go to the News24 Business front page. Impala Platinum will resume production at its Rustenburg operations on Thursday, after the company suspended activity earlier in the week...

by William Clowes.

Asset News Hub

2023-11-30 05:47:00.0

Fed’s beige book shows economic slowdown as consumers pull back

‘Sales of discretionary items and durable goods, like furniture and appliances, declined, on average, as consumers showed more price sensitivity,’ according to the report released Wednesday. US econom...

by Reade Pickert.

Asset News Hub

2023-11-30 05:27:00.0

SA MPs defer vote on health insurance law

Lawmakers have failed to consult adequately or take the concerns of numerous clinician bodies into account, according to the South African Health Professions Collaboration, which represents 25 000 doc...

by Janice Kew.