EconomyLoop
where regional business news becomes global to everyone

Fin24.com | 'There is no magic wand to say load shedding is over' and other top quotes on Eskom's power crisis

South Africa is bracing for a sixth consecutive day of load shedding on Wednesday while the power system remains severely constrained.... read more

 South African Economy59 minutes ago

     
Fin24.com | Stage 4 load shedding to continue on Wednesday

Eskom has announced in a power alert that stage 4 load shedding will again be implemented on Wednesday as it continues to battle a shortage of available capacity.... read more

 South African Economy36 minutes ago
Fin24.com | #Brexit: UK plays hardball on trade negotiations, even though no one knows what's happening next

Trade ministers of the Southern African Customs Union and Mozambique have gone back to the drawing board to determine a way forward for trade arrangements with the UK, once it leaves the EU. But matters can’t be settled until it is known if the UK is... read more

 South African Economy36 minutes ago
Fin24.com | Eskom hits back: We are not formally planning Stage 5 and 6 load shedding

Eskom has taken to Twitter to explain its position on load shedding stages 5 - 8, saying they are purely there as a "contingency measure".... read more

 South African Economy31 minutes ago
Fin24.com | Find everything you need to know about Gordhan's Eskom briefing - and what happens next - here

Public Enterprises Minister Pravin Gordhan held a briefing on Eskom in Johannesburg this morning. From how much Eskom plans to spend on maintenance to the root cause of the power crisis, catch up on everything you missed here.... read more

 South African Economy1 hour ago
Fin24.com | I have no comment on Eskom - Brian Molefe

Former Eskom CEO Brian Molefe refused to comment on Public Enterprises Minister Pravin Gordhan's remarks on Tuesday that Molefe had a lot to answer for in terms of the utility's power crisis.... read more

 South African Economy2 hours ago
Fin24.com | New stage 8 load shedding 'nothing to panic about', says Eskom

The power utility has expanded its load shedding plan to eight stages - allowing for up to 8 000 MW to be shed from the national grid - but a spokesperson says the risk of stages 5-8 being implemented is "very low".... read more

 South African Economy4 hours ago
Fin24.com | Eskom, government plans for Stage 5 and Stage 6 load shedding to stave off national blackouts

Eskom and government have started planning for Stage 5 and Stage 6 load-shedding, according to officials who say that there is a race against time to ensure that a national blackout and grid collapse does not happen.... read more

 South African Economy5 hours ago
Fin24.com | SA will get through Brexit maze just fine, says trade and industry committee chair

Trade and industry committee chair Joan Fubbs told Fin24 that Parliament's dissolution and the UK's own decision-making processes around Brexit meant there was no feasible way to make progress on the matter before the next term - but she was confiden... read more

 South African Economy6 hours ago
Fin24.com | We only have ourselves to blame - Eskom COO

Eskom only has itself to blame for the lapse of a contract for early detection of maintenance failures, according to Eskom chief operations officer (COO) Jan Oberholzer.... read more

 South African Economy6 hours ago
Fin24.com | Eskom sets aside R50bn over 5 years for maintenance

Eskom has set aside R50bn over the next five years for maintenance as ageing infrastructure is unable to keep up with electricity demand, according to the power utility’s CEO Phakamani Hadebe.... read more

 South African Economy7 hours ago
Fin24.com | Eskom needs 'crisis reaction' - Mabuza

Eskom chairperson Jabu Mabuza says the operational side of Eskom requires “crisis reaction” as well as time and speed to fix the current load shedding situation.... read more

 South African Economy8 hours ago
Fin24.com | 'No magic formula to solve power crisis' - Gordhan

There is no magic formula to solve the current load shedding crisis and the Minister of Public Enterprises Pravin Gordhan is unable to say when the rotational blackouts will be over.... read more

 South African Economy9 hours ago
Fin24.com | Gordhan, Mabuza to shed light on SA’s power crisis

South Africans have faced five consecutive days of load shedding, including power cuts at night, as power utility Eskom battles a generation shortfall.... read more

 South African Economy11 hours ago
Fin24.com | Davies warned that 'devastating' Copyright Amendment Bill could cost SA jobs

The Copyright Amendment Bill can have a devastating impact on the creative industry, impacting jobs and revenue, a coalition of artists, writers and publishers has said.... read more

 South African Economy21 hours ago
Fin24.com | Many opportunities for SA, Netherlands to strengthen ties - Ambassador

Agriculture is the main export from SA to the Netherlands, but there is room to strengthen ties, says Netherlands Ambassador to SA Han Peters.Agriculture is the main export f South Africa to the Netherlands, but there is room to strengthen trade ties... read more

 South African Economy21 hours ago
Fin24.com | Joburg power mostly restored... just in time for load shedding

Power has been restored to most suburbs affected by the earlier outage in Johannesburg, City Power Jhb has said.... read more

 South African EconomyYesterday
Fin24.com | Stage 4 load shedding confirmed for Tuesday

Eskom has said Stage 4 load shedding will be implemented on Tuesday.... read more

 South African EconomyYesterday
Fin24.com | 3 ways #Brexit will play out and how it will affect SA

Efforts to resolve outstanding issues in a trade arrangement with the UK following Brexit have not been concluded, Trade and Industry Minister Rob Davies said.... read more

 South African EconomyYesterday
Fin24.com | Moody's changes Cape Town municipal rating from negative to stable

Ratings agency Moody's has changed its rating of the City of Cape Town municipality from negative to stable.... read more

 South African EconomyYesterday
Fin24.com | Eskom's 'perfect storm' and how the power utility is managing the crisis

South Africa has been oscillating between Stage 2 and Stage 4 load shedding since Friday. From storm damage to a diesel shortage, Fin24 spoke to acting head of generation, Andrew Etzinger, about the extremely constrained power system.... read more

 South African EconomyYesterday
Fin24.com | 'Major' power outage in north of Joburg as Eskom power line trips

City Power Johannesburg says a high voltage Eskom power line feeding most of its substations in the north of Johannesburg has tripped.... read more

 South African EconomyYesterday
Fin24.com | SA agribusiness confidence advances from 2009 low, but producers still downbeat

Confidence in South Africa’s agricultural industry improved from the worst reading since 2009 in the first quarter but lingered at levels that indicate producers are still downbeat about business conditions.... read more

 South African EconomyYesterday
Fin24.com | Saudis urge OPEC+ to stick with oil cuts

OPEC and its allies have much work ahead to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih has said.... read more

 South African EconomyYesterday
Fin24.com | 'Stage 4 load shedding is unacceptable, disruptive to economy' - Gordhan

Minister of Public Enterprises Pravin Gordhan has said that his department and National Treasury will assist embattled power utility Eskom to fast-track the procurement of "essential goods and services" required to urgently repair generating units at... read more

 South African EconomyYesterday
Fin24.com | Get ready for full day of stage 4 load shedding on Monday - Eskom

State 4 load shedding - which allows for 4000 MW to be shed from the national grid - will also be implemented on Tuesday.... read more

 South African Economy2 days ago
Fin24.com | Radebe removes Central Energy Fund chairman Luvo Makasi

Energy Minister Jeff Radebe removed Luvo Makasi as chairman of the nation’s Central Energy Fund, citing “serious allegations.”... read more

 South African Economy2 days ago
Fin24.com | Risk of UK dumping its chicken on SA in no-deal Brexit – trade movement

The FairPlay Movement has warned that a no-deal Brexit could possibly lead to increased chicken exports from the UK to SA.... read more

 South African Economy2 days ago
Fin24.com | 5 questions: The DA's election promise for BEE

BEE has long been contentious within the DA. Fin24 talks to its spokesperson for jobs, MP Geordin Hill-Lewis, about the party’s stance.... read more

 South African Economy2 days ago
Fin24.com | Govts trying to squeeze more out of companies due to tax revenue pressures – expert

Corporates must prepare to feel the pinch from various quarters as governments face mounting pressure to collect tax revenue, says an expert at Schroders.... read more

 South African Economy2 days ago
Fin24.com | The pound's trajectory is far clearer than Brexit outlook

As the UK’s Parliament finds itself deadlocked over Brexit, its currency may finally be starting to wriggle free.... read more

 South African Economy2 days ago
Fin24.com | Another day of Stage 4 load shedding on Sunday

Eskom said late on Saturday night that another day of Stage 4 load shedding would be implemented on Sunday.... read more

 South African Economy2 days ago
Fin24.com | Squirrels are damaging some maple syrup operations

Maple syrup producers have more than the weather to worry about.... read more

 South African Economy3 days ago
Fin24.com | 'Brelcome': Portugal woos post-Brexit tourists from UK

Portugal on Friday launched an internet campaign aimed at wooing UK visitors, its most valuable tourist market, to keep visiting the country after Brexit.... read more

 South African Economy3 days ago
Fin24.com | Mozambique cyclone kills dozens, cuts power to SA

A tropical cyclone which tore through Mozambique and Zimbabwe, has led to the deaths of 43 people, knocked out electricity and phone networks and cut power to South Africa from a hydropower dam.... read more

 South African Economy3 days ago
Fin24.com | Stage 2 load shedding confirmed for Saturday

Eskom will implement Stage 2 load shedding from 08:00 till 23:00.... read more

 South African Economy3 days ago
Fin24.com | Whats in a name? All you need to know about Zim's new currency

In February, Zimbabwe introduced a new currency called the RTGS, or real-time gross settlement dollar, in the process abandoning its long held 1:1 parity between the US dollar and its local transactional instrument - the bond note.... read more

 South African Economy4 days ago
Fin24.com | Levies to add to expected fuel price hike in April - AA

The association was basing its projections on unaudited mid-month fuel price data released by the Central Energy Fund, and announcement by the finance minister in his February Budget.... read more

 South African Economy4 days ago
Fin24.com | We can't predict job losses due to the 4th industrial revolution - labour minister

Labour Minister Mildred Oliphant says the amount of jobs which will be affected by the fourth industrial revolution cannot be predicted.... read more

 South African Economy4 days ago
Fin24.com | Eskom warns of high risk of load shedding on Friday

This comes after the power utility instituted stage 1 load shedding on Thursday morning, which was upgraded to stage 2 in the afternoon.... read more

 South African Economy4 days ago
Fin24.com | CCMA will have enough funds to manage more complaints – labour minister

Labour Minister Mildred Oliphant says allocations from National Treasury to the CCMA will be enough to cover increasing cases.... read more

 South African Economy4 days ago
Fin24.com | Gauteng MEC Faith Mazibuko's viral rant may fall foul of the law, say experts

Gauteng MEC for Sport and Recreation Faith Mazibuko may be on the wrong side of the law when it comes to her tirade over "combi-courts", say two experts.... read more

 South African Economy4 days ago
Fin24.com | SA mining production slump continues – Stats SA

Statistics South Africa announced a continued slide in local data mining production for January, though mineral sales spiked by over 20% year-on-year due to a strong increase in platinum group metals.... read more

 South African Economy4 days ago
Fin24.com | Zimbabwe miners to pay 80% wage increase

Zimbabwe mining companies – which include units of Anglo Platinum, Impala Platinum and Caledonia Mining – are to award an 80% wage increase to mine workers.... read more

 South African Economy4 days ago
Fin24.com | Nene: Guptas portrayed themselves as good corporate citizens

Former finance minister Nhlanhla Nene has told the State Capture Inquiry that he visited the Gupta’s eight time during his time in the Treasury portfolio.... read more

 South African Economy5 days ago
Fin24.com | Stage 2 load shedding to come this afternoon, says Eskom

Load shedding will be moving from stage 1 to stage 2, Eskom has said.... read more

 South African Economy5 days ago
Fin24.com | State Capture inquiry hears of secrecy around Optimum coal mine sale to the Guptas

Former director general in the department of Mineral Resources Thibedi Ramontja on Thursday detailed the secrecy that surrounded the acquisition of Optimum coal mine from Glencore.... read more

 South African Economy5 days ago
Fin24.com | Enoch Godongwana appointed non-executive director at DBSA

The ANC's head of economic transformation been named as a member of the board of the Development Bank of Southern Africa, which provides developmental infrastructure in SA and the rest of the African continent.... read more

 South African Economy5 days ago
Fin24.com | Zondo grants Des van Rooyen leave to cross-examine Fuzile

Van Rooyen was surprisingly appointed finance minister by former president Jacob Zuma in December 2015, sending the rand into a tailspin.... read more

 South African Economy5 days ago
Fin24.com | Mboweni extends acting SARS boss Kingon's term for another 90 days

This comes at the tax agency continues its search for a permanent new head.... read more

 South African Economy5 days ago