Economy

Raising VAT in SA will not help the poor: Union

Unions in South Africa say they are concerned that raising VAT will not help the poor.

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European stock markets slide at open

European stock markets slid at the start of trading on Thursday after large drops in Asia and on Wall Street, as investors predict a series of US interest rate rises.

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Budget 2018 enough to delay a Moody's downgrade:FNB

First National Bank (FNB) chief economist Mamello Matikinca said on Thursday she was confident the 2018 budget unveiled by finance minister Malusi Gigaba would be enough to avert a credit rating downgrade by Moody's in March.

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War of words gains momentum between Ethiopia and Egypt

A war of words is building up in East Africa over who controls the Blue Nile.

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SA to raise VAT for first time in 25 years

South Africa's new leadership announced on Wednesday it was taking the politically risky step of raising value-added tax for the first time in 25 years, part of efforts to cut the deficit and stabilise debt under new President Cyril Ramaphosa.

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Deutsche Telekom rings up big profits

German telecoms giant Deutsche Telekom on Thursday announced a big jump for its 2017 net profit, as a tax bump from the United States helped offset record investments in fibre-optic infrastructure.

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China sees travel rush peak at end of Spring holiday

China saw a travel rush peak on Wednesday as the Spring Festival holiday drew to a close.

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Tokyo stocks slump as market remains cautious

Tokyo stocks dropped on Thursday following falls on Wall Street as market sentiment remained fragile after recent volatility.

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SA rail to manufacture 500 passenger trains for Zimbabwe

South Africa's rail utility Transnet, will manufacture 500 passenger trains for Zimbabwe in Ekurhuleni region, after it sourced the first 20 from Brazil.

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SA Rand firms after budget speech

The South African rand firmed almost 1% after Finance Minister Malusi Gigaba delivered what he called "a tough but hopeful budget".

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