Economy

Oil dips on surge in COVID-19 infections

Oil prices dropped on Monday on a record daily rise in global coronavirus cases with big spikes in infections over the weekend in the United States (US) while traders await an OPEC technical meeting expected to recommend an easing of supply cuts.

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For struggling SA poultry sector, post-Covid-19 promises flood of imports

South Africa’s poultry sector is bracing itself for a tough time ahead, as producers warn that an avalanche of chicken will hit the country after the Covid-19 pandemic, exacerbating chicken dumping issues that have plagued producers for many years.

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Illegal ivory trade shrinks, pangolin trafficking booms: UN

The illegal global trade in ivory has shrunk while the trafficking of pangolins has soared, a United Nations (UN) report on wildlife crime based on four years’ data said on Friday.

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Alexander Forbes feels effect of Covid-19

Alexander Forbes has been forced to freeze the fees of all its nonexecutive directors as part of the group’s cost-containment initiatives in response to the impact of the coronavirus (Covid-19) pandemic on its operations.

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Business interruption ruling rankles, Santam seeks urgent meeting with FSCA

Santam has requested an urgent meeting with the Financial Sector Conduct Authority (FSCA) after the authority rowed back on its business interruption (BI) claims position by recognising Covid-19 to be the primary cause of commercial losses.

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Tunisia's economy will shrink by 6.5% this year

Tunisia’s economy will shrink by 6.5% this year because of the effects of the COVID-19 pandemic, the Investment Minister, Slim Azzabi, said on Monday.

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SAA unions, creditors urged to become 'co-creators of new national airline'

Ahead of a key vote on the future of embattled national carrier, South African Airlines (SAA), minister Pravin Gordhan's Department of Public Enterprises (DPE) has called on unions and creditors to become the "co-creators of a new national airline".

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Libya's NOC accuses UAE of being behind oil blockade

Libya’s National Oil Corp (NOC) on Sunday accused the United Arab Emirates of instructing eastern forces in Libya’s civil war to reimpose a blockade of oil exports after the departure of a first tanker in six months.

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Closures, job losses loom as wheels come off car rental business

Bidvest Car Rental has warned staff that all the positions in the company, which has more than 100 branches across the country, might become redundant, as it plans to close or sell the business.

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Rand rises despite the resumption of load-shedding

The rand juggled cautious sentiment as coronavirus infections are surging across the globe and frustration hit as South African power utility Eskom switched off the lights against a soft US PPI release according to NKC Research.

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