EconomyLoop
where regional business news becomes global to everyone

Fin24.com | What if you could claim overtime for work done while commuting?

Research indicates that the average commuter in Cape Town spends about 49.1 hours in traffic per year, while Johannesburg has a traffic congestion level of 30%.... read more

 South African Economy41 days ago

     
Fin24.com | August PMI slumps to lowest since 2016, bodes ill for SA economy - Std Bank

Economic policy uncertainty and increased cost pressures on consumers saw the August PMI slip to its lowest level since April 2016, says Standard Bank.... read more

 South African Economy41 days ago
Fin24.com | Fiscal committee has not met since 2017 - Ramaphosa

President Cyril Ramaphosa told Parliament that the Presidential Fiscal Committee, which was tasked with considering proposals by National Treasury to bring the public finances back onto a sustainable path, has not met since 2017.... read more

 South African Economy41 days ago
Fin24.com | US embassy not spooked by land reform - Rob Davies

Trade and Industry Minister Rob Davies says land expropriation was not a major point of discussion when his department met with the US embassy.... read more

 South African Economy41 days ago
Fin24.com | Radebe stands his ground on coal dominance under DA scrutiny

Energy Minister Jeff Radebe has told Parliament that government’s energy policy takes into account all of the country's energy sources, as well as the role of poverty and inequality.... read more

 South African Economy41 days ago
Fin24.com | ANC calls for immediate stimulus package as economy dips into recession

The party called for ‘aggressiveness’ in implementing a recovery package after Stats SA announced the country had entered its first recession since 2009.... read more

 South African Economy41 days ago
Fin24.com | Banks predict SA will miss 2018 growth forecasts as recession hits

National Treasury’s growth projection of 1.5% in 2018 is likely to be revised downwards following the country entering into a recession, according to research notes by Goldman Sachs, FNB and Investec.... read more

 South African Economy42 days ago
Fin24.com | Recession reignites credit-rating downgrade concern

SA's unexpected slump into a second recession in almost a decade has boosted fears of another round of credit-rating downgrades that could see a sell-off in local-currency bonds.... read more

 South African Economy42 days ago
Fin24.com | SA energy will still be two-thirds coal in 2030, Radebe tells MPs

The department of energy has told MPs that the draft IRP's coal component is in line with the country's energy policy, although by 2030, it will cost the country R20bn more than outlined in the 2010 plan.... read more

 South African Economy42 days ago
Fin24.com | Nene calls for calm as Ramaphosa dodges recession, lauds China

The president steered clear of touching the issue of SA's recession when he fielded questions from Chinese media in Beijing on Tuesday night.... read more

 South African Economy42 days ago
Fin24.com | No deliberate plan to exclude nuclear energy from IRP - Radebe

There was no deliberate move to exclude nuclear energy from the government’s new draft electricity roadmap, Energy Minister Jeff Radebe told MPs on Tuesday.... read more

 South African Economy42 days ago
Fin24.com | Why Nene thinks the recession can be turned around, and other reactions to SA's economic plunge

Finance Minister Nhlanhla Nene told reporters in Beijing that government was confident it could turn the economic situation around.... read more

 South African Economy42 days ago
Fin24.com | 10 things you need to know about SA's first technical recession since 2009

South Africa is in its first technical recession in nine years. Here's 10 things you need to know.... read more

 South African Economy43 days ago
Fin24.com | Ramaphosa starts with a recession, just like Zuma 9 years ago

Cyril Ramaphosa suffered the same false start as his predecessor nine years ago: a recession in his first six months in office.... read more

 South African Economy43 days ago
Fin24.com | SA in technical recession as second quarter GDP falls

South Africa is officially in a technical recession, after Stats SA announced on Tuesday that the country's real gross domestic product had decreased by 0.7% in the second quarter of the year.... read more

 South African Economy43 days ago
Fin24.com | China promises Africa debt relief as Xi counters aid criticism

Chinese President Xi Jinping pledged debt relief to some poorer African nations, attempting to push back against a major criticism of his signature Belt and Road Initiative.... read more

 South African Economy43 days ago
Fin24.com | Homes for sale: asking prices becoming more unrealistic - FNB

The majority of home sellers have to drop their asking price to sell the property, according to a second quarter FNB Estate Agent Survey.... read more

 South African Economy43 days ago
Fin24.com | Latin America nations in crisis summit amid Venezuela exodus

Government officials from across Latin America and the Caribbean are meeting to coordinate a response to the regional humanitarian crisis caused by Venezuela’s economic collapse.... read more

 South African Economy43 days ago
Fin24.com | FairPlay: Zero rate chicken, not white bread

Chicken should become VAT free as it's a staple food for lower-income households, says trade movement FairPlay.... read more

 South African Economy43 days ago
Fin24.com | New vehicle sales disappoint, expected to remain under pressure

Economic pressures weigh down new vehicle sales, which are not expected to improve for the remainder of the year.... read more

 South African Economy43 days ago
Fin24.com | China-Africa cooperation to focus on youth - Xi Jinping

Chinese President Xi Jinping has said future Sino-African cooperation should focus on young people.... read more

 South African Economy43 days ago
Fin24.com | House price growth faces downward trend for third year running - index

The slow decline in real house price growth continues and remains negative in real terms, says John Loos, household and property sector strategist at FNB.... read more

 South African Economy43 days ago
Fin24.com | Chinese are no new colonisers - Ramaphosa

President Cyril Ramaphosa used his opening address at the FOCAC summit in Beijing on Monday to champion Africa's call for fair trade between the continent and the world's second-largest economy.... read more

 South African Economy43 days ago
Fin24.com | Ramaphosa scores in game auction as he mulls land expropriation

An auction near the northern town of Bela Bela by a group of six farms known collectively as Stud Game Breeders raised about R99m. Ramaphosa’s Phala Phala Wildlife farm is part of the group and sold animals for a total of R19.7m.... read more

 South African Economy43 days ago
Fin24.com | Energy Department intervenes to keep petrol price increase down

Fuel prices will increase by 4.9c per litre in September, the Department of Energy announced, well below the 23c to 25c increase expected by the AA.... read more

 South African Economy43 days ago
Fin24.com | Gordhan: Fuel prices will rock SOEs

Public Enterprises Minister Pravin Gordhan has said fuel price increases are significantly affecting operations and turnaround strategies at most state-owned enterprises.... read more

 South African Economy43 days ago
Fin24.com | Turkish Central bank pledges policy action to stem inflation

Turkey’s central bank signaled higher interest rates are in the offing after inflation rose more than forecast in August and producer prices surged.... read more

 South African Economy44 days ago
Fin24.com | Sisulu: China's growth due to 'planning, ingenuity, hard work'

International Relations and Cooperation Minister Lindiwe Sisulu has praised China's growth, saying Africa can learn from the world's second-largest economy.... read more

 South African Economy44 days ago
Fin24.com | China commits to pumping investment into SA

President Cyril Ramaphosa's state visit in China has yielded promising results, following the signing of several cooperation agreements between the two countries.... read more

 South African Economy44 days ago
Fin24.com | South Africa's PMI sees factory activity at 13-month low in August

An index tracking South African manufacturing activity posted its worst reading in 13 months in August as new sales orders dropped.... read more

 South African Economy44 days ago
Fin24.com | Bain to launch investigation into work for SARS

Global consultancy says it will undertake a "deep and extensive investigation" into its work for the tax agency, in light of testimony at the Nugent inquiry.... read more

 South African Economy44 days ago
Fin24.com | Has SA entered technical recession? It may be close call, says FNB

Another quarter of negative growth would come as knock to President Cyril Ramaphosa's plan to ignite the country's economy and grow jobs by attracting billions of rands in foreign direct investment.... read more

 South African Economy44 days ago
Fin24.com | Solidaity plans for three-week Sasol strike over share scheme

Not all Solidarity members will down tools at the same time. 'This will be a clever strike,' says the the union's CEO Dirk Hermann.... read more

 South African Economy44 days ago
Fin24.com | A $50 billion fight about who owns the SA Reserve Bank

Should nationalisation take place, the bank's governor Lesetja Kganyago says he won’t give up the nation’s assets or allow tinkering with the mandate.... read more

 South African Economy44 days ago
Fin24.com | WATCH: SA chicken farmers wary of Trump tariffs

For some farmers in South Africa, concern over domestic land reform takes second place to worries about cheap chicken exports from America.... read more

 South African Economy44 days ago
Fin24.com | China's Xi looks to Africa to counter criticism of aid efforts

President Xi Jinping is expected to use a gathering of dozens of African leaders in Beijing to push back against criticism that China’s vast development initiatives risked saddling emerging economies with debt.... read more

 South African Economy45 days ago
Fin24.com | Rob Davies ‘must squash’ R10/kg US chicken imports

The department of trade and industry is still studying the court application handed in last week by the SA Poultry Association that is aimed at forcing an end to the special quota system allowing 65 000 tons of dirt cheap US chicken into South Africa... read more

 South African Economy45 days ago
Fin24.com | Nuclear is still there

Although the new Integrated Resource Plan is seen as a big improvement, its pricing structure, especially concerning new coal stations, is seen as implausible.... read more

 South African Economy45 days ago
Fin24.com | Ironman stirs up tension but will bring in R400m

Preparation for the Ironman 70.3 World Championship sparked controversy as councillors from poorer wards in Nelson Mandela Bay complained that the metro’s priorities were misdirected.... read more

 South African Economy45 days ago
Fin24.com | Ethical leadership is the missing link

With right-thinking leaders at the core there are likely to be good policies. Economic growth, investment and jobs are the natural outcome, writes Bonang Mohale.... read more

 South African Economy45 days ago
Fin24.com | Gama appeals to Gordhan

Embattled Transnet CEO Siyabonga Gama has taken his fight with his chairperson Popo Molefe to Public Enterprises Minister Pravin Gordhan, asking him to intervene in the standoff between the paratatals’s two most senior leaders.... read more

 South African Economy45 days ago
Fin24.com | Bain & co 'failed' at Sars

Nhlanhla Nene says he was disappointed in Bain’s inability to deliver results considering it had aided a turnaround at Development Bank of Southern Africa.... read more

 South African Economy45 days ago
Fin24.com | Bain on Sars: We didn't prostitute ourselves

Management consulting firm Bain & Company “didn’t prostitute ourselves” in its work for the SA Revenue Service (Sars), Vittorio Massone, managing partner of Bain’s local office, told City Press this week.... read more

 South African Economy45 days ago
Fin24.com | 'Dismaying' level of sexual harassment in corporate SA - survey

Nearly a third of women and nearly a fifth of men have faced unwanted sexual advances in the SA workplace, with many of these victims reporting unwanted touching.... read more

 South African Economy46 days ago
Fin24.com | Address unconscious bias in SA aviation industry - ACSA exec

The under-representation of women in aviation must be addressed, says an ACSA executive - and the issue prompted a gender summit on the topic.... read more

 South African Economy46 days ago
Fin24.com | Trump's snub to EU overtures on tariff cuts clobbers carmakers

European car stocks have fallen and the region’s politicians expressed disappointment after US President Donald Trump rejected a proposal to eliminate tariffs on auto imports.... read more

 South African Economy46 days ago
Fin24.com | Top 5 on Fin24: Bain partner says he has nothing to apologise for, Moyane Russia trip still shrouded in mystery and Google and Mastercard cut a secret ad deal

A roundup of Friday's top economic and finance reads on Fin24.... read more

 South African Economy46 days ago
Fin24.com | Geoffrey Qhena to step down after 13 years as IDC head

The IDC board said Qhena had played a "critical role in the development and success of the corporation".... read more

 South African Economy46 days ago
Fin24.com | D-day to comment on zero-rated VAT items

The public has until the close of business on Friday to comment about the value added tax (VAT) Commission’s report suggesting a further five items become zero-rated.... read more

 South African Economy46 days ago
Fin24.com | Trump threatens to pull US out of WTO if it doesn’t 'shape up'

President Donald Trump says he would pull out of the World Trade Organisation if it doesn’t treat the US better, targeting a cornerstone of the international trading system.... read more

 South African Economy47 days ago