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Major banks remain resilient, focus turns to new skills and new strategies

By: Schalk Burger     17th September 2021 The four largest banks in South Africa – Absa, FirstRand, Nedbank and Standard Bank – remain resilient, with healthy, stable and above regulatory minimum liquidity and coverage. Their results were also buoyed by underlying business momentum and risk profiles performing better than expected,... 

Municipalities improve on underspending in 2020/21

By: Marleny Arnoldi     10th September 2021 The National Treasury has noted, in a preliminary quarterly report, that municipalities spent 91.9% of the total adjusted expenditure budget that was afforded to local government in the 2020/21 financial year. Municipalities spent R446-billion of the allocated R485-billion for the financial... 

Company uses innovative ideas in municipal project

By: Anna Moross     10th September 2021 Consulting engineers Knight Piésold completed the design and construction supervision of the 25 ML rectangular reinforced concrete reservoir at the Emoyeni site for the eThekwini municipality Water and Sanitation Unit in February 2021. 

Four-day liquor retail rule doing more harm than good, study finds

By: Marleny Arnoldi     9th September 2021 A study by the Consumer Goods Council of South Africa (CGCSA) and the Liquor Traders Association of South Africa (LTASA) has found that the ongoing trade restrictions on retail liquor stores in South Africa are unjustifiable, discriminatory and uncompetitive. The restrictions, which mean retail... 

Imperial reports healthy full-year earnings growth, but withholds dividend 

By: Marleny Arnoldi     7th September 2021 JSE-listed Imperial Logistics’ restructuring and simplifying efforts since 2019 have contributed to it reporting an operating profit of R2.3-billion and basic headline earnings per share (HEPS) of 334c for the financial year ended June 30. This compares with an operating profit of R1.4-billion... 

Kirkland Lake adds 10Moz at Detour Lake

By: Esmarie Iannucci     3rd September 2021 A new resource estimate for the Detour Lake gold mine, in Ontario, has added more than 10-million ounces to the project’s measured and indicated mineral resource. Triple listed Kirkland Lake Gold this week reported that the measured and indicated mineral resource at Detour Lake was now... 

Global airline losses reduced during the second quarter: North America even saw net profits

By: Rebecca Campbell     31st August 2021 The global airline industry’s representative body, the International Air Transport Association (Iata), has reported that the aggregated losses of the sector had decreased during the second quarter of this year (Q2 2021) in comparison to the first quarter. The data was released in Iata’s Airlines... 

Resilient proposes R1bn investment in Dipula Income Fund

By: Simone Liedtke     27th August 2021 Real estate investment trust (Reit) Resilient has proposed investing in JSE-listed Dipula Income Fund, but only if Dipula first simplifies its dual share capital structure. Resilient envisages that it will co-own suitable retail assets with Dipula and will continue to support Dipula to play a... 

South Africa must strive to more effectively balance lives and livelihoods with Covid-19 regulations, says CGCSA

By: Schalk Burger     26th August 2021 South Africa should strive to more effectively balance protecting lives, while ensuring businesses can continue to operate to support people's livelihoods when setting policies and regulations, such as those aimed at limiting the spread of Covid-19 infections, says fast-moving consumer goods... 

Westshore to start construction of potash facilities next year 

By: Mariaan Webb     17th August 2021 Vancouver-based Westshore Terminals expects to start constructing infrastructure required to handle potash from the 4.35-million-tonne-a-year Jansen mine, in Saskatchewan, next year, the port operator said on Tuesday. This comes as diversified major BHP approved Stage 1 of the project,... 

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