The Global Minimum Tax Act which requires large multinational enterprises (MNEs) operating in the nation to pay a global minimum corporate tax rate of 15% was formally signed into law by South Africa in a…
South Africa: Alcohol Ban Cost Economy More Than…
Brewing and beverage business enterprise Distell said on Monday the alcohol industry had already lost 118,000 jobs. Whilst nearly 800 small and medium sized liquor manufacturers confronted financial ruin as a end result of the…
Business: Pedro’s creates first premium ogogoro in Africa
Ogogoro is a West African alcoholic drink extracted locally from palm bushes frequently served to guests or consumed in local bars, and at social occasions in Nigeria. The nearby gin additionally has ordinary attraction and is…
Business: Downsized Hajj Affects Somalia’s Livestock Trade
The Hajj, a time of celebration when Muslims journey to Mecca each year. A pilgrimage that economically benefits Somali cattle breeders and traders whose millions of livestock are imported by Saudi Arabia to nourish the…
Business: Oil edges higher as fears about sliding…
Oil prices recovered in addition floor on Friday, after touching three-week lows in the previous session, responding to a document decline in US growth as the coronavirus ravaged the world’s largest economic system and oil…
IMF loan payback: It’s a stupid economy
The current R70-billion loan by the International Monetary Fund (IMF) to South Africa has been acquired with combined critiques via more than a few segments of the country. National Treasury Director-General Dondo Mogajane has welcomed…
Business: Discovery of Mediterranean gas off Egypt could…
The new gasoline discovery off Egypt’s Mediterranean coast could produce up to 32 million cubic ft per day, its Petroleum Minister Tarek El-Molla said on Tuesday. Earlier this month, Eni, along with contractors BP and…
Business: Julius Berger Nigeria Plc Loses N1.9bn in…
Julius Berger Nigeria Plc has said a loss of N1.931 billion for the six month ended June 30, 2020, compared with a income of N2.835 billion in the corresponding period of 2019. Details of the…
Business: Cardinal urged to accept Shandong Gold offer
Shandong these days elevated its bid for the ASX and TSX-listed Cardinal from the 60c a share offered in June this year, to 70c a share, after a competing bid from shareholder Nordgold emerged, which…
Business: Oil prices may fall, not rise
Oil’s restoration is being hit from both sides. Benchmark Brent crude expenditures have risen by means of 128% from their April low, closing above $40 a barrel considering that the center of June. But rising…
Business: Gold skyrockets due to financial boom fears
Gold is heading for its seventh weekly acquire as it advantages from a especially weak dollar and inflation expectations globally. Bullion, valued by way of traders in instances of crisis as a secure haven and…
Business: SAA creditors must meet the unmet guarantee…
The commercial enterprise rescue practitioners of South African Airways have called a creditors' meeting for Friday 24 July, on the foundation that a condition set in the enterprise rescue sketch has no longer been met.…
Business: Ethiopian Airlines plane catches fire at Shanghai…
An Ethiopian Airline cargo airplane caught fireplace in China, an aviation information tracking portal pronounced on Wednesday morning. The incident involved Ethiopian Airlines 777F which used to be parked at the Shanghai Pudong Airport. The…
Business: Silicon Valley has deep pockets for African…
Sorry for asking, but do you understand that the money belongs to the business enterprise and is now not your non-public fund?” When Jesse Ghansah noticed this question in an electronic mail from a distinguished…
SABC troubles add to a rising list of…
The South African Broadcasting Corporation (SABC)'s organizational and financial problems will come to the fore once again on Tuesday as the broadcaster updates Parliament on its flailing fortunes. Its woes may seem to be recent,…
South Africa: Numsa to pick over work losses…
South Africa's National Union of Metalworkers announced in a statement on Sunday evening that it would picket at ArcelorMittal on Monday at several sights of service. The statement said the picket would take place on…
Business: Mboweni wants DA to provide ‘evidence’ for…
Finance Minister Tito Mboweni has hit back at claims by the DA that National Treasury plans to extend a bailout to help fund the business rescue process of flag carrier South African Airways. This after…
Breaking: Load shedding is over, but load reduction…
Eskom released a statement on Friday evening, announcing that it would implement load reduction in the Nkangala District Municipality in Mpumalanga from on Saturday morning from 05:00 to 09:00. The statement comes at the end…
Business: Grand Ethiopian Renaissance Dam: Ethiopia confirms reservoir…
A reservoir behind Ethiopia‘s disputed Grand Renaissance dam on the River Nile has started filling with water – a day after talks with Egypt and Sudan ended without agreement, officials say. Ethiopian Water Minister Seleshi…
