Dr Tae Hyung Kim Commissioner of Invest Korea. At the close of the Invest Korea Summit in Seoul and the APEC CEO Summit in Gyeongju, Korea reaffirmed its strong commitment to innovation — not only in artificial intelligence (AI) and advanced industries, but in building sustainable, future-ready partnerships. Invest Korea Summit was held as part…
Strike action is looming in the automotive sector. The National Union of Metalworkers of South Africa (Numsa) has confirmed that it’s now in possession of a strike certificate after rejecting an employer offer of 7% in the first year and 5,5% in the other years of a multi-year agreement. The union was briefing the media…
Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany The European Central Bank kept interest rates unchanged at 2% for the third meeting in a row on Thursday and repeated that policy was in a “good place” as economic risks recede and the euro zone shows continued resilience in the face…
An Eskom logo is seen at the entrance of their head offices in Sunninghill, Sandton. The National Union of Mineworkers (Num) has kicked off wage negotiations at Eskom with a 15% salary increase demand for its members. Other demands include a housing benefit of R7 000 a month and the company’s medical aid contribution of…
The South African Broadcasting Corporation’s (SABC) TV Park building in Auckland Park, Johannesburg. The South African Broadcasting Corporation (SABC) senior management continues to express the need for a viable funding model for the public broadcaster in order to have financial stability. The executive and the board of the public broadcaster appeared before the Standing Committee…
South African money notes and coins. Economist Doctor Azar Jammine says small businesses are finding it extremely difficult to secure capital. South Africa experienced another spike in business liquidations in September. There was a 23.9% increase in the number of businesses closing down. Dr. Jammine says that big businesses get more support which contradicts government’s…
Vet about to vaccinate cows South African farmers, including red meat producers, are challenging industry bodies to account for funds meant to curb the spread of foot-and-mouth disease. They say they have been paying for prevention efforts for years, but outbreaks have continued with little transparency on how the funds are being used. South Africa…
The Financial Action Task Force flag. Economist Dr Iraj Abedian says South Africa’s removal from the Financial Action Task Force’s grey list is a step in the right direction, but adds that a lot more needs to be done to maintain its status. The global financial crime watchdog placed SA on the grey list in…
A security officer seen next to a ‘no jobs’ board. National Youth Development Agency has launched a R2.5 billion National Youth Fund to tackle unemployment. The announcement was made at a Youth Investment Indaba in Johannesburg. The agency’s Deputy Chairperson, Bonga Makhanya, says investment in the fund will be sourced both locally and internationally for…
Gambling machines at a casino. The KwaZulu-Natal Economic Regulator (KZNER) says unregulated online gambling is a crime. This follows the latest report by the National Gambling Board, revealing that South Africans have spent R1.5 trillion on gambling during the 2024/25 financial year, a R400 billion increase from the previous year. KZNER Executive for Transformation and…
