Ithala Bank outreach at a shopping centre on May 24, 2024. 2 minutes Some Ithala Bank clients in Durban have voiced their concern and anger over the current dilemma that the bank finds itself in. Last week, the Reserve Bank’s Prudential Authority filed papers in the Pietermaritzburg High Court for the provisional liquidation of the…
Minister Enoch Godongwana 2 minutes Finance Minister Enoch Godongwana says a guarantee of R2 billion has been made available to ensure that whatever happens with Ithala Bank, the savings of depositors are protected. Speaking to SABC News on the sidelines of the World Economic Forum in Davos, Switzerland, Godongwana says a plan has been devised…
4 minutes Investors welcomed Donald Trump’s second inauguration, anticipating a pro-business agenda, while remaining wary of his protectionist trade policies, particularly his stance on tariffs. During Trump’s speech, stock futures traded higher, with contracts on the Standard & Poor’s 500 index, the Nasdaq 100 index and the Dow Jones Industrial Average trading up between 0.4% and…
1 minute The Companies and Intellectual Property Commission (CIPC) has announced that it will embark on a mass deregistration of companies that have not met their obligations. The obligations include the timely submission of annual returns and ownership declarations. The CIPC says deregistration will address the high number of inactive businesses and mitigate the risks…
[File Image]: Eskom vehicle. 2 minutes Eskom CEO Dan Marokane says the reintroduction of performance incentives has helped keep the focus on the company turnaround plan. He was speaking to SABC News on the sidelines of the World Economic Forum in Davos, Switzerland. Morokane says Eskom suspended its performance incentives five years ago. He says,…
South African rand notes. 2 minutes The government has tabled a new wage offer of 5.5% for public sector workers. The employer met with labour unions at the Public Sector Coordinating Bargaining Council for a revised offer after the workers rejected a proposed 5% salary increase. The Medium-Term Budget Policy Statement tabled last year makes…
Norton Rose Fulbright office building, Sandton, Johannesburg. 1 minute Black legal practitioners have voiced concerns over Norton Rose Fulbright’s legal bid to block the newly introduced B-BBEE legal sector code. The code aims to address racial discrimination and promote black ownership in South Africa’s legal industry. Basadi ba Molao, a non-profit organization advocating for equality…
US bank note. 3 minutes The dollar took a dive on Monday after US President-elect Donald Trump was quoted as saying he will not impose trade tariffs straight after his inauguration, which is set to take place later in the session. Trump will issue a broad trade memo on Monday that stops short of imposing…
A Ithala Bank stand at an event. 2 minutes Some Ithala Bank clients in Durban have voiced their concern and anger over the current dilemma that the bank finds itself in. Last week, the Reserve Bank’s Prudential Authority filed papers in the Pietermaritzburg High Court for the provisional liquidation of Ithala. Some branches in the…
[File image] Minister Velenkosini Hlabisa speaking at a government event. 1 minute Cooperative Governance and Traditional Affairs Minister, Velenkosini Hlabisa says he will meet with labour unions this week to explore solutions to continue supporting the Community Work Programme participants aged 55 and older, despite budgetary constraints. This follows his decision to extend the contracts…
