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Business

July protests take their toll as economy shrinks by 1.5%

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The largest drops in the third quarter were in the agriculture sector, trade and manufacturing.

MTN staff members who refuse vaccination will be fired

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MTN has joined the list of companies that have made vaccines mandatory

Decline in demand for office space continues

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Many companies are revising their requirements as the pandemic continues to upset business plans

Lessons from Turkey to SA: Economic independence is a battle

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Without tighter capital controls, regulating the flow of money in and out of their economies, Turkey and South Africa are vulnerable to the whims of the financial markets

Why Prasa chief executive Zolani Matthews was axed

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Zolani Matthews has been fired after an investigation found he deliberately and intentionally failed to disclose that he holds British citizenship

Black Friday better than 2020’s but consumer spending remains subdued

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The momentous retail spending event, Black Friday, remains relevant in South Africa as total online spend year-on-year increased by 6%

‘It is right that auditing is under scrutiny’ — Deloitte Africa CEO-elect

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Incoming chief executive Ruwayda Redfearn says Deloitte has learned a lot about the importance of ‘professional scepticism’ from its corporate mishaps

Impala Platinum re-enters Royal Bafokeng Platinum buyout bid

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The announcement comes just weeks after competitor Northam inked a deal to acquire up to 33.3% of Royal Bafokeng Platinum

Brakes put on foreign truck drivers

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New legislation aims to protect local jobs in the transport sector amid questions as to whether SA has enough willing and skilled drivers

As Reserve Bank eyes inflation, jobs suffer

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The central bank has been criticised for hiking interest rates to the detriment of employment

‘Explosive’ jobs crisis imperils South Africa

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Experts’ strategies for fixing the unemployment crisis range from devaluing the rand to a universal income grant or accepting debt from loans

‘South Africa will decline finance deal on energy if terms are bad’

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Cyril Ramaphosa says the terms of $8.5-million climate finance offered to South Africa by wealthy countries are not yet set in stone

Absa firing is an attack on corporate governance — Sipho Pityana

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Absa announced that the businessman was removed from its boards after being accused of acting against the banking group’s best interest

‘A cruel slap’: Reserve Bank weighs inflation risks as the economy struggles

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Critics have said the repo rate hike will jeopardise already sluggish economic growth, but others say the gradual increase will have little effect

Pent-up investor interest in green energy finance will boost South Africa’s plans

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The delay in additional capacity to the grid was not caused by a lack of private capital, but a lack of projects

Heineken buying Distell will allow for its diversification in the wake of waning beer sales

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Heineken set to brew up local market

Reserve Bank green-lights interest rate lift-off

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The decision to hike the repo rate by 25 basis points comes in the wake of red-hot inflation in advanced economies and fears policymakers will start to dial back on accommodative measures

Diversifying Vodacom dips its toes in new markets

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Last week, South Africa’s biggest cell phone operator announced two major acquisitions amid speculation its rivals may be teaming up
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