Africa-Press – South-Africa. CAPE TOWN – Good morning. This is all the latest business news that you need to know today.
1. Relief as economy bounces back in third quarter
The rand rallied to a near 10-month high yesterday after the economy rebounded way more than expected in the third quarter as the government began easing the Covid-19 lockdown restrictions.
2. PPC shares surge 15% after strong sales
PPC’s shares surged more than 15 percent yesterday after it reported that a strong second quarter recovery in sales continued through October and November.
3. Government signs Eskom social compact
The government yesterday signed a social compact that could see a portion of pension funds being used to reduce Eskom’s R480 billion debt and its huge interest service bill.
4. MC Mining’s shares fall after acting CEO quits
MC Mining weakened 5.56 percent to R1.87 a share on the JSE yesterday as the market digested the news of acting chief executive Brenda Berlin’s surprise resignation.
5. SA needs SMMEs to rebuild economy
Small, Medium and Micro Enterprises (SMMEs) have a vital role in rebuilding South Africa’s economy that has been severely affected by the Covid-19 crisis.
6. Rand drops below the R15/$ mark
The rand strengthened, dropping below the R15 against the dollar threshold.
7. Northam Platinum increases its stake in Zambezi
Northam Platinum has bought Zambezi preference shares from the Public Investment Corporation (PIC) for R1.3 billion as it pursues its strategy of returning value to shareholders.
BUSINESS REPORT ONLINE
