Economy

NUMSA, Cabin Crew Association to picket outside SAA headquarters

The National Union of Metal Workers of South Africa (Numsa) and the Cabin Crew Association (SACCA) say they will picket outside the South African Airways (SAA) headquarters in Johannesburg to demand that funding be made available for the airline.

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Further SA repo rate cut mooted at next MPC

The South African Reserve Bank on Thursday left the door open for a final rate cut before Christmas after two members of the Monetary Policy Committee (MPC) voted in favour of a 25 basis point rates cut.

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Japan sending team to probe Mauritius ship grounding

Japan said on Friday it will send a five-person team to Mauritius to investigate the grounding of a Japanese-owned ship off the country’s coast that led to an environmental crisis.

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Saudi energy Minister warns oil market gamblers will be hurt "like hell"

The Saudi Energy Minister warned traders on Thursday against betting heavily in the oil market saying he will try to make the market “jumpy” and promised those who gamble on the oil price would be hurt “like hell”.

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Dutch court freezes stake in Angola's former first family oil feud

An Amsterdam court on Thursday froze a stake held by Exem Energy, a company owned by the husband of Angola’s former first daughter Isabel dos Santos, in a dispute over a deal struck with Angolan state oil firm Sonangol in 2006.

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SA among economies destined to record biggest shortfall in GDP

NKC Africa Economics has identified South Africa as among emerging economies expected to record the biggest shortfall in gross domestic product (GDP) in 2021.

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Take home salaries of South Africans fell almost 35% in a year

The number of take-home salaries fell by nearly 35 percent in July compared with the same month a year before, according to the latest BankservAfrica’s Take-Home Pay and Private Pensions index.

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UN food Chief urges Bezos, other billionaires to step up to help world's starving

UN food chief David Beasley called on the world’s billionaires on Thursday to step up to help save some 30 million people he said are at risk of dying if they don’t receive help from the World Food Programme(WFP).

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Libya's NOC says lifting force majeure is tied to demilitarising oil facilities

The chairperson of Libya’s National Oil Corporation (NOC) said on Friday that lifting the force majeure restrictions that have halted oil exports from the war-torn country depends on demilitarising all oil facilities.

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Saudi Arabia crude exports rebound in July from historic lows

Saudi Arabia’s crude oil exports rebounded in July to 5.73 million barrels per day (bpd) from a record low in June, official data showed on Thursday.

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