NewsBank (Business Day: Web Edition Articles (Johannesburg, South Africa))
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DRDGold reports rise in quarterly earnings
Shares in DRDGold rose the most in four weeks in intraday trade on Friday, after the company reported higher earnings despite lower output in the quarter ending March 31.
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DION GEORGE: Why is Cosatu defending the widening public sector wage gap?
SA's growing debt burden is escalating into a humanitarian disaster as the cost of servicing our interest bill fast approaches R1bn a day.
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MITCHELL BROOKE: Port inefficiencies must not be allowed to spoil citrus exports
Millions of cartons of citrus will in coming weeks make their way to SA's ports as citrus season starts to ramp up. But a serious obstacle stands in the way of getting a record volume of our highquality citrus to overseas markets — underperforming ports.
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Government reforms prompt surge in private power to keep lights on
The government and business expect a huge amount of new, utility scale private sector renewable energy capacity to come online in the next three years as corporate plans come to fruition, helping to keep SA's lights on.
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Standard Bank extends PayShap to corporate clients
Standard Bank has leveraged on the successes of PayShap with retail clients since being launched in SA just more than a year ago by launching a replica platform for its corporate clients to enable them to conduct instant payments.
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Platinum set for biggest deficit in a decade, refiner warns
Johnson Matthey, the world's largest secondary platinum group metal (PGM) refiner, said that this year the sector is set for its largest supply shortfall in 10 years.
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HILARY JOFFE: No easy fix to Transnet's logistics crisis
Asked recently why Transnet had taken so long to ink the deal with the Filipino company chosen to run the Durban Container Terminal 2 (DCT2) that it had opened the space for a legal challenge, Transnet's impressive new CEO, Michelle Phillips, replied that this was the first time the group had done such a deal and it needed to make sure it did it right. The timelines for future private...
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Five things to watch this week
THE FINAL: ATTACK ON WEMBLEY — NETFLIX
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Botswana's Masisi vows to protect interests in De Beers amid BHP's Anglo bid
Botswana's President Mokgweetsi Masisi has articulated a firm stance on the country's involvement and interest in De Beers, a diamond division caught in the middle of a R700bn potential tieup between its parent, Anglo American, and larger rival Australia's BHP.
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Q&A: Teraco CEO sketches investment case for company's business model
Teraco Data Environments, Africa's largest data centre provider, is building a R2bn power plant locally to secure stable, reliable backup energy for its systems that can ill afford Eskom's continued loadshedding.
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MARK ETHERIDGE: Swimming through water and motherhood
Prodigious young sporting talent, a devoted parent, professional parachuting… and with everything pointed to 2024's Paris Olympics.
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NGO goes to court over political party funding
NGO My Vote Counts (MVC) launched an urgent application in the Western Cape High Court on Friday to ensure that limits and thresholds for political party funding are kept in place.
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Bosses' bums remain in the butter despite Tinseltown's annus horribilis
As repeatedly reported over the course of the year, 2023 was a difficult year for Hollywood, oft described as an annus horribilis during which profits plummeted and output flatlined as the industry's big plans for a postCovid comeback were hamstrung by the effects of the writers' and actors' strikes.
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CRAIG NEWBORN: Fintechs are plugging the gap for greater financial access
Ninetyeight percent of South Africans are now financially included, according to the Financial Sector Conduct Authority's (FSCA) SA retail financial customer behaviour and sentiment report for 2023. But high financial inclusion does not mean the work is done.
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EDITORIAL: Hide nothing from our people
"Hide nothing from the masses of our people. Tell no lies. Expose lies whenever they are told. Mask no difficulties, mistakes, failures. Claim no easy victories..."
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BRIAN KANTOR: At the crossroads of interest rates, inflation and exchange rates
Lenders demand compensation for expected inflation through higher interest rates, and borrowers are willing to pay more when higher prices are expected to erode their real borrowing costs. Interest rates, after inflation, therefore reveal the real rewards for saving and the real cost of issuing debt.
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CHRIS THURMAN: Party logos show cynicism is not only justified but necessary
Welcome to the second instalment of this election cycle's Useless Political Party Logo Bashing Bash (UPPLBB). It seems you have to have an acronym to get anywhere in the political landscape, so I figured I'd come up with something catchy of my own. I must admit, I didn't give my brand identity much thought. But then again, neither did many of the "designers" — I use the term hesitantly — whose...
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Bytes Technology appoints Sam Mudd as new CEO
Sam Mudd has taken over as CEO of Bytes Technology after the ousting of former longtime boss Neil Murphy earlier in the year due to a share trading scandal.
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Audi SA launches high-spec Urban Edition Q3 models
Audi SA has launched featurerich Urban Edition derivatives to its Q3 SUV and Q3 Sportback models.
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KIM GIBB: T+1 settlement: ensuring all boxes are ticked for SA fund managers
The introduction of T+1 trade settlement in the US, Canada and Mexico is projected for this month. The shift from T+2 was partly prompted by the volatility in stocks during the Covid19 pandemic. The US regulator, the Securities & Exchange Commission (SEC), is keen to provide a more secure and predictable environment for trade settlement that can cope with future high levels of volatility in US...
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KEVIN MCCALLUM: No rhyme or rhythm in sport, just randomness
In The Shining Girls, Lauren Beukes' extraordinary novel, there are four sentences, pearls of wisdom, that could be used to describe the discombobulating improbability that is sport: "There are patterns because we try to find them. A desperate attempt at order because we can't face the terror that it might all be random. He is undone by the revelation. He has the sense of losing his footing, as...
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NICK VAN RENSBURG: We need to work together to grow SA's economic pie
SA is celebrating 30 years of democracy and our coming general election is likely to be a world class example of democracy in action.
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Sibanye seeks debt reprieve as earnings plunge nearly R6bn
SibanyeStillwater, one of SA's largest private sector employers, has approached its lenders to temporarily raise its lending covenants after its earnings before interest, taxes, depreciation, and amortisation (ebitda) in the first quarter plunged by two thirds.
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Gauteng police well prepared for illegal acts related to election
The Gauteng legislature's portfolio committee on community safety has expressed confidence in law enforcement authorities' ability to manage risks to the electoral process.
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AngloGold Ashanti reports increased production for the first quarter
AngloGold Ashanti on Friday reported an increase in gold production for the first quarter to endMarch, with fullyear production also expected to rise.
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Powerfleet shifts year-end after MiX Telematics merger
Powerfleet has changed its yearend to March 31 from December 31, the company told investors on Friday, following its recent merger with MiX Telematics.
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JSE follows stronger global markets amid renewed rate hike hopes
The JSE was firmer on Friday morning, tracking firmer global markets as another soft US jobs report supported investors' hopes for an interest rate cut.
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How the ban on exporting scrap metals has affected SA
According to the Metals Recycling Association of SA, the scrap metal industry contributes R15bn ($906m) to SA's GDP and employs about 350,000 people. Over 60% of scrap metal revenue is generated from the mining, manufacturing and construction industries.
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EDITORIAL: Master plan has no solutions for preventable gas crisis
There was a time when the loadshedding crisis could have been avoided. The government was warned more than two decades ago of the disaster that was to come if it did not make timely investments in new generation capacity. But it didn't listen until it was too late.
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Yvonne Mokgoro hailed for contribution to SA's democracy
President Cyril Ramaphosa led tributes on Friday to retired Constitutional Court justice Yvonne Mokgoro, after her death on Thursday.