Ongoing power cuts bring factory productivity to a record low across SA, Naspers cancels an R85 billion rand deal with Indian company BillDesk, and the "bear killer" month of October is off to a relatively good start.
4 Oct 2022
Marketing · Business News
National Treasury gives Transnet a massive loan, reserve bank deputy governor Fundi Tshazibana says there is a good case for domestic interest rates staying “higher for longer”, and consumers can look forward to some relief at the pumps come Wednesday.
Unlike previous Novembers this was not a good month for the rand - with load-shedding and Transnet - the toxic combination has taken its toll, and most companies who took part in a 6 month 4 day work week trial have decided to keep the new schedule.
Prosus reports significant results, SA-born Elon Musk's Starlink satellite company does not have a license to operate in the country, and Busa President Adrian Gore has warned that the pace of delivery across the joint initiatives being taken with government on electricity, logistics, and crime is “plateauing.”
VW is NOT leaving South Africa - so says CEO Martina Biene, but ,there are deep-seated concerns, 100,000 ships are now stuck outside three SA ports, and ArcelorMittal SA is to close its long steel ops, cutting 3,500 jobs.