 EconomyLoop where regional business news becomes global to everyone  | ||
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| Fin24.com | Water scarcity could be bigger problem than energy crunch - analyst South Africa’s widespread water crisis is not only being caused by a severe drought but by “political apathy”, says Nedbank.economist Mike Peo. water scarcity problem would be even more challenging than solving the problem of energy supply.... read more
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| Fears as striking miners spend days underground Fears have been expressed about the health of about 150 miners, who have been on an underground strike at Kimberley's Ekapa Mine for five days... read more
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| Slow growth experienced in SA is likely to further increase poverty The World Bank has revised the country's growth for 2017 from 1.1 % in January to 0.6 %.... read more
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| Tiso Black Media seeks to meet ZCC over boycotting decision Tiso Blackstar Media has called for an urgent meeting with the Zion Christian Church leadership in Polokwane, Limpopo.... read more
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| Fin24.com | Used car dealer must pay back the money for dud car A Cape Town car dealership has been ordered to refund a consumer who bought a second-hand car, only to have it break down a few days later.... read more
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| Fin24.com | Top 5 on Fin24: KPMG International chair says sorry, Manuel on #GuptaLeaks, and PnP trials Bitcoin In case you missed it, here is a roundup of Tuesday’s top 5 reads on Fin24.... read more
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| Fin24.com | South Africans disclose R35bn in offshore assets to taxman South Africans have declared almost R35bn worth of foreign assets under the government-initiated special voluntary disclosure programme (SVDP) that closed last month.... read more
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| Fin24.com | Come clean before it's too late, Save SA warns Gupta-linked firms South African outrage has already put an end to Bell Pottinger’s global dark arts, and dealt a body blow to KPMG’s reputation, warns Save SA.... read more
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| Fin24.com | #GuptaLeaks will open Pandora's box - Manuel South Africa’s complex set of problems is unravelling, exposing the bad in the country including "shenanigans" at SARS, says former finance minister Trevor Manuel.... read more
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| Slow economic growth likely to increase poverty trends The World Bank has revised the country's growth for 2017 from 1.1% to 0.6% in January.... read more
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| Fin24.com | German investor confidence surges as concerns over euro fade German investor confidence has risen for the first time in four months in a sign that concern over the risk to growth from the strengthening euro is subsiding.... read more
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| KPMG damage control could be in vain: Expert The South African Revenue Services (SARS) held a press briefing in which it withdrew its rogue unit report calling into question the integrity of auditing firm, KPMG on Monday.... read more
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| Fin24.com | Do immigrants 'steal' jobs in SA? What the data tells us South Africa is a popular destination for immigrants, especially from other African countries. Does their presence affect the employment chances of South Africans?... read more
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| Fin24.com | Building prospects in doldrums despite slight confidence uptick Despite a slight increase in confidence, the building sector is likely to continue to perform poorly in the fourth quarter, according to the Building Confidence Index.... read more
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| Companies must severe ties with KPMG: Economist Chief executive of Pan-African Investments and Research Services, Iraj Abedian, says companies using the services of KPMG must severe ties with them.... read more
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| Right2Know to protest over high data, airtime prices Civil rights organisation Right2Know will on Monday protest at the headquarters of South Africa's four largest telecommunications companies in Gauteng to demand a decrease in the price of data.... read more
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| Fin24.com | What different generations want from shopping A retail expert takes a closer look at the shopping approach of Generation I, Generation D, the Millennials, Generation X, Generation Jones and the Flat-agers.... read more
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| Sars mulls legal action against KPMG The South African Revenue Services (Sars) says it will institute legal action against auditing firm KPMG.... read more
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| Molefe denies taking any position at PIC Former Eskom CEO, Brian Molefe, says he has not been approached to consider taking up any position at the Public Investment Corporation.... read more
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| Fin24.com | EFF questions presence of ANC MP at SARS briefing The Economic Freedom Fighters has hit out at the presence of ANC MP Nyami Booi at the SARS media briefing about KPMG.... read more
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| Fin24.com | Egypt knocks SA from top investment spot in Africa - RMB report Egypt has toppled SA from its long-standing top spot regarding investments in Africa, according to Rand Merchant Bank’s latest Where to Invest in Africa report.... read more
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| Fin24.com | McKinsey faces legal action over Gupta-linked Eskom saga The Democratic Alliance says it will lay fraud, racketeering and collusion charges against US global consultancy firm McKinsey, after it was implicated in the Eskom corruption scandal.... read more
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| Fin24.com | Top 10 quotes as Moyane lashes out at KPMG SARS Commissioner Tom Moyane has whipped KPMG as he defended the tax authority, following the audit firm's decision to retract parts of the “rogue unit” report.... read more
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| Fin24.com | Government debt up as growth falters in ailing economy Reserve Bank data shows government debt continues to grow, despite efforts to remain on the path of fiscal consolidation.... read more
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| Fin24.com | Moyane lambastes KPMG, SARS to take legal action SARS Commissioner Tom Moyane says the tax authority is considering taking legal action against KPMG following the decision to retract parts of the 'rogue unit' report.... read more
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| Fin24.com | Economists boost eurozone outlook, see best year in a decade The eurozone economy has just gotten another upgrade, with economists seeing the fastest expansion since before the financial crisis.... read more
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| Fin24.com | Bell Pottinger fallout continues as Geoghegan’s father quits UK firm The fallout following Bell Pottinger’s collapse last week has continued, with the man who introduced the Guptas to the PR firm stepping down from a UK firm.... read more
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| Watch SARS media briefing on KPMG The South African Revenue Service (SARS) is briefing the media on the withdrawal by KPMG of its SARS Report.... read more
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| Fin24.com | London slumps as UK sellers raise home prices UK house prices have grown at the slowest annual pace in more than five years this month as a slump in London weighed on the market.... read more
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| Fin24.com | LIVE: SARS to shed light on withdrawal of KPMG report SARS will hold a media briefing, following KPMG's withdrawal of the SARS 'Rogue Unit' report, which analysts say cost Pravin Gordhan his job and ultimately led to the credit downgrade.... read more
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| Fin24.com | Gordhan: SARS is a political project run by people who can’t manage tax system SARS has became a political project and is now run by people who have no idea how to manage a tax administration system, Pravin Gordhan has said in a Bloomberg interview.... read more
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| Fin24.com | Reserve Bank expected to cut interest rate this week A shallow interest rate cutting cycle seems likely with at least one 25 basis-point cut expected in September 2017, predicts Arthur Kamp of Sanlam Investments.... read more
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| Makhura ropes in national govt to deal with Uber war Gauteng Premier, David Makhura, says he has requested the intervention of national government in the on-going violence between metered taxi and Uber operators.... read more
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| Newly-appointed KPMG South Africa CEO committed to restore audit firm The newly-appointed Chief Executive of KPMG South Africa, Nhlamu Dlomu has committed to restore the audit firm's fundamental values of ethics and integrity.... read more
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| Fin24.com | Hawks probe into Guptas: DA throws in KPMG statement The Democratic Alliance has handed over a statement by KPMG International to the Hawks to assist with an investigation into the notorious Gupta family.... read more
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| Fin24.com | Parliament to investigate massive Transnet locomotive tender Parliament’s trade and industry oversight committee has agreed to launch an inquiry into Transnet’s controversial acquisition of 1 064 locomotives at a cost of R50bn.... read more
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| Fin24.com | South Africans opt out of travel bucket list South Africans are continuing to tighten their belts, skipping holidays and rather prioritising daily necessities, surveys show.... read more
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| Fin24.com | Risk side of SA's reputation going down The risk side of South Africa's reputation is deteriorating notably, according to the Africa Risk-Reward Index released by Oxford Economics.... read more
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| Fin24.com | Patel warns of complacency in beneficiation Economic Development Minister Ebrahim Patel says more needs to be done to implement beneficiation, but shares on the progress that has been made so far.... read more
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| NUM instructed to vacate Kimberley's KEM-JV mine A court interdict has been issued against the National Union of Mineworkers (NUM) to vacate Kimberley Ekapa Mining Joint Venture (KEM-JV) mine's premises for safety reasons.... read more
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| Fin24.com | Banks must deal with criticism and negotiate South Africa’s banks have to address both the fair and unfair criticism levelled at them before the “climate for negotiation” is lost, said Yunus Carrim, the chair of Parliament’s standing committee on finance.... read more
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| Fin24.com | Harmony is most likely the buyer of Anglo’s Kopanang With two of the three initial bidders for AngloGold Ashanti’s Kopanang mine in Klerksdorp, North West, having received letters of rejection, the door seems wide open for deep-pocketed Harmony Gold to win.... read more
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| Fin24.com | ‘SA’s troubles are self-inflicted’ Business Leadership SA (BLSA) CEO Bonang Mohale is not a man who minces his words.... read more
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| Fin24.com | Black contractors viewed with suspicion There is a culture of institutional suspicion in the construction industry as black contractors’ ability to undertake construction projects is being questioned.... read more
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| Fin24.com | Varsity killed the college The notion of free university tuition has gained ground in state circles, yet the chronic underfunding of technical and vocational colleges remains unacknowledged.... read more
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| Fin24.com | Keeping his eye on the prize Investment manager Kabelo Rikhotso learnt his street smarts growing up in Atteridgeville, and always wanted to change lives.... read more
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| Fin24.com | Kubayi: I’ll go to court if IPP renegotiations fail Energy Minister Mmamoloko Kubayi says she will go to court to challenge independent power producers that do not drop their previously agreed tariffs.... read more
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| NUM blames mine for workers refusing to return to surface The National Union of Mineworkers (NUM) says the Kimberley Ekapa Mining Joint Venture should take full responsibility for underground mineworkers who are refusing to return to the surface.... read more
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| Fin24.com | KPMG bloodbath: SA Twitter reacts Twitter SA's reaction to the resignation of the top leadership of KPMG SA was swift. Here's a selection of what got the country talking.... read more
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| Gordhan seeks legal recourse on KPMG issue Former Finance Minister Pravin Gordhan and other former SARS executives mentioned in the KPMG report are seeking legal recourse.... read more
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