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Rand closes in on R15 against the dollar

Rand closes in on R15 against the dollarBy Dhivana Rajgopaul 13m ago Share this article: ShareTweetShareShareShareEmailShareThe South African currency traded on the front foot, lifted by an improved market mood as US President Trump accepted the commencement of the transition towards a Biden administration according to NKC Research. The green light for a transition was given despite Trump’s plans to continue with legal challenges. On local soil, government announced that it will pay R500m ($33m..

Coronation’s profits up 16.6% despite pandemic

Coronation’s profits up 16.6% despite pandemicBy Edward West 32m ago Share this article: ShareTweetShareShareShareEmailShareCAPE TOWN - CORONATION Fund Managers lifted its final dividend 16.5 percent to 205 cents a share in the year to September 30, despite global markets experiencing elevated levels of risk because of the Covid-19 pandemic. Coronation shares were up 4.37 percent to R46.68 yesterday morning, before closing at 43.60. Revenue increased 10.7 percent to R3.64 billion. Headline earni..

Omnia’s surge in earnings boosts share price 4%

Omnia’s surge in earnings boosts share price 4%By Sandile Mchunu 22m ago Share this article: ShareTweetShareShareShareEmailShareDURBAN - OMNIA Holdings’ shares rose more than 4 percent on the JSE yesterday after the diversified chemicals group reported a surge in earnings of more than 200 percent for the six months to the end of September and a reduction of R1.4 billion in net debt. Omnia reduced its debt to R1.9bn, down from R3.3bn compared with last year. Headline earnings per share from conti..

Transaction Capital’s earnings decline by 65%

Transaction Capital’s earnings decline by 65%By Sandile Mchunu 13m ago Share this article: ShareTweetShareShareShareEmailShareDURBAN - TRANSACTION Capital yesterday reported a 65 percent decline in core headline earnings from continuing operations to R276 million for the year to the end of September, hurt by the impact of Covid-19 on SA Taxi and Transaction Capital Risk Services (TCRS). In SA Taxi, the group said credit impairment charges against loans and advances increased by 160 percent to R8..

Momentum in double-digit earnings growth

Momentum in double-digit earnings growthBy Sandile Mchunu 13m ago Share this article: ShareTweetShareShareShareEmailShareDURBAN - Momentum Metropolitan Holdings bounced back strongly in the first quarter of the 2021 financial year by reporting a double-digit growth in earnings after it was hurt by the Covid19 outbreak in its full-year results. The country’s largest insurance financial services group yesterday reported an 18 percent growth in normalised headline earnings to R1.04 billion during t..

Land Bank hit by Moody’s further downgrade

Land Bank hit by Moody’s further downgradeBy Given Majola 43m ago Share this article: ShareTweetShareShareShareEmailShareDURBAN - CASH-STRAPPED Land Bank of South Africa has been downgraded by Moody’s on restructuring delays and a related liability solution. Moody’s slapped the agricultural development financier with a Caa1 from B3, and its national scale issuer ratings to B2.za from Ba2.za. The rating agency also downgraded Land Bank’s Baseline Credit Assessment to Caa3 from Caa2, a move whic..

Hard-pressed consumers want discounts, bargains

Hard-pressed consumers want discounts, bargainsBy Dineo Faku 33m ago Share this article: ShareTweetShareShareShareEmailShareThe latest PricewaterhouseCoopers (PwC) study Black Friday report said South African consumers would have less money in their pockets to spend on luxury goods and would be looking to retailers for discounts and bargains – particularly on staple items – this Black November. Hard-pressed consumers are battling with the aftermath of the Covid-19 pandemic, which has resulted i..

Eskom warns of continued crisis if independent producers can’t help

Eskom warns of continued crisis if independent producers can’t helpBy Siphelele Dludla 24m ago Share this article: ShareTweetShareShareShareEmailShareJOHANNESBURG - ESKOM chief executive Andre de Ruyter has warned that the utility’s power generation crisis would persist for longer if the government failed to allow it to procure more electricity from Independent Power Producers (IPPs). Speaking at PSG’s “Think Big” Series yesterday, De Ruyter said there was a need to ramp up the procurement of ca..

Exchange control proposals to be reviewed

Exchange control proposals to be reviewedBy Siphelele Dludla 12m ago Share this article: ShareTweetShareShareShareEmailShareJOHANNESBURG - The government has put on hold proposed changes to exchange control laws in a bid to create an enabling environment that would make it easier for foreigners to invest in the country’s economy. The National Treasury, the SA Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) said yesterday that they intended to review the country’s exchange c..

A new era, a new journey, new opportunities

A new era, a new journey, new opportunitiesBy Sponsored Content 7h ago Share this article: ShareTweetShareShareShareEmailShareThe keynote speech by HE Ambassador Chen Xiaodong of China to South Africa at the webinar hosted by the National Press Club on the Third Volume of Xi Jinping: The Governance of China and the Fifth Plenary Session of the 19th CPC Central Committee. Good afternoon! It is a great pleasure to attend the webinar on the Third Volume of Xi Jinping: The Governance of China and th..

Bank of Communications opens first African branch in Johannesburg

Bank of Communications opens first African branch in JohannesburgBy Sponsored Content 18h ago Share this article: ShareTweetShareShareShareEmailShareOn November 20, Bank of Communications (Bocom) officially opened its first Branch in Africa. Based in Johannesburg, the largest economy in the Republic of South Africa, the Branch extends the international footprint of the bank. The establishment of the Johannesburg Branch of Bocom is a milestone they have achieved to expand business opportunities ..

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SA’s favourite festive season meats will cost more money this year than before

SA's favourite festive season meats will cost more money this year than beforeBy Mwangi Githathu 9m ago Share this article: ShareTweetShareShareShareEmailShareCape Town - The traditional honey-glazed gammon with crackling, a favourite at Christmas, and that leg of lamb on the braai when family visits during the festive season, will be a lot more expensive this year. Economists and experts in the meat industry said increases in meat prices and the absence of a 13th cheque meant meat was con..

Tongaat businessman’s alleged killers abandon bail

Tongaat businessman’s alleged killers abandon bail By Jolene Marriah-Maharaj 8m ago Share this article: ShareTweetShareShareShareEmailShareDurban – The two men charged for the murder of Tongaat businessman Ashveer Sukwa abandoned their bail application in the Verulam Magistrate’s Court on Wednesday. NPA spokesperson Natasha Kara-Ramkisson said the matter was adjourned until January 7. She confirmed both accused were remanded to Westville Prison. The victim Ashveer Sukwa, 35, was stabbed multi..

Lewis Hamilton still hungry to win as F1 heads to Bahrain this weekend

Lewis Hamilton still hungry to win as F1 heads to Bahrain this weekendBy Reuters 9m ago Share this article: ShareTweetShareShareShareEmailShareBy Abhishek Takle MANAMA - Lewis Hamilton heads into Sunday’s Bahrain Grand Prix as the most successful driver in Formula One history, and now a seven times world champion, but the Briton will not be slowing down as he aims to round out a record-breaking season in style. The Mercedes driver clinched the title at the previous race in Turkey to equal Michae..