Forex

 

Unemployment fund’s assets currently valued at R110bn – Hopefully the government will keep their hands off

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The Unemployment Insurance Fund (UIF) currently has assets valued at R110-billion‚ Labour Minister Mildred Oliphant disclosed on Monday. In a written reply to a parliamentary question by Democratic Alliance labour spokesman Michael Bagraim‚ Oliphant said that while the projected monthly contributions from September 1 2017 to August 31 2018 were expected to total R1.58-million‚ the..
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Lessons to be learnt from the rest of the African continent

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While South Africa had “a head start in the level of its development compared to other African economies” there was much to learn from the rest of the continent, many of who were “making greater progress, despite starting from a low base.” South Africa also had a role to play in contributing to the continent’s..
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ConCourt rules on new owners’ historical debt.

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The Constitutional Court on Tuesday ruled that new home owners are not liable for historical debt taken over from previous owners. Municipalities such as Tshwane, eThekwini and Ekurhuleni — as well as the cooperative and governance minister — argued against a landmark high court judgment in 2016, which made a similar ruling. The high court..
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Gigaba lashes out against ‘hysteria’ over SAA bailout

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Finance Minister Malusi Gigaba has spoken out against what he termed hysteria that has been created around the options government is considering to recapitalise South African Airways (SAA). He was speaking at a briefing at Treasury following a meeting with the steering committee of the CEO Initiative on Friday. He emphasised that government is still..
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Eskom wants to give Molefe R11-million golden handshake

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Public Enterprises Minister Lynne Brown this week quashed yet another bid by Eskom’s board to pay former CEO Brian Molefe a multimillion-rand golden handshake. The request to pay Molefe a settlement of R11.2-million was made to Brown by interim board chairman Zethembe Khoza. It came just months after the minister rejected an initial bid to..
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Did Guptas sell mines they didn’t own? The Zuma and Guptas stories is just getting interesting day by day.

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Many questions remain about the Gupta family’s announcement on Wednesday that it was selling Tegeta Exploration, a company with coal mines that, according to Eskom, are critical for keeping the lights on in the country. But two questions stand out: Who is buying Tegeta, and who is selling it? Neighbours in the vicinity of the..
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Guptas get bailed out of another SA business after Swiss Company is investing R2,97b

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Oakbay flogging Tegeta for amazingly quick profit of nearly R800million. A United Arab Emirates businessman using a Swiss shelf company is investing R2.97-billion to buy the Gupta family’s Tegeta mining company, which is under investigation for dubious dealings in its purchase of the Optimum colliery. Tegeta Resources and Exploration will be sold by Oakbay Investments,..
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Makhosi Khoza, African National Congress MP, hits back at claims that she ‘insulted’ ANC colleagues.

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Makhosi Khoza has denied she insulted ANC colleagues following a boycott of a meeting she chaired last week, saying she was responding to their initial taunts. Khoza was sacked as chairperson of the portfolio committee on public service and administration last Thursday, August 17, after ANC MPs wrote a letter demanding she be removed two..
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Falling BRICS endanger their citizens’ health, starting with Jacob Zuma.

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As he launches the African Regional Centre of the New Development Bank (NDB) in Sandton on Thursday, nearly 18 months behind schedule, Jacob Zuma must have mixed feelings. Strife-riven Brazil, Russia, India and China are more risky allies than Zuma reckoned when in 2010 he accepted Beijing’s invitation to join the club. “I was poisoned..
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SARS feeds Guptas and ANC

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A Parliamentary Question from the FF Plus regarding complaints received from the taxpayer (SARS) since the tax ombudsman came into existence indicates that everything is not well in SARS and that this service can become less and less trusted in dispute with Taxpayers themselves. Adv. Anton Alberts, the FF Plus parliamentary spokesman for finance, asked..
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