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The automotive industry has expressed confidence that it would be resilient enough to withstand the 25% import tariffs imposed by the Trump administration in the US as domestic new vehicle sales surged by 12.5% in March. This comes after export sales for new vehicles recorded an impressive increase of 9 354…

The rand weakened slightly on Tuesday, trading at around R18.40 against the dollar and nearing a one-month low, as investors assessed economic data and awaited details on US President Donald Trump’s proposed tariffs. The currency’s decline was exacerbated by prolonged domestic budget negotiations, with markets jittery ahead of a critical…

Absa Group faced a rocky leadership shuffle that left its reputation bruised in 2024, while it paid its executive team handsomely, its latest annual report shows.Interim group CEO Charles Russon pocketed R35.47 million, a 12.1% jump from R31.64m in 2023, and new group financial director Deon Raju earned R22.09m in…

Mondi, the London and Johannesburg-listed global packaging and paper solutions group, said Tuesday it has completed the €634 million (R12.5 billion) acquisition of the Western Europe packaging assets of Schumacher Packaging.The transaction will expand Mondi's footprint, enhance its customer offering, and create a strong platform for further growth, the group…

The nation is waiting on tenterhooks as the joint Standing and Select Committees on Finance are set to vote on the fiscal framework on Wedneday, approving or rejecting the National Budget tabled by Finance Minister Enoch Godongwana last month. Godongwana's Budget proposed adjusting the VAT increase to 1% over the next…

Businesses in the manufacturing sector in South Africa are expecting conditions to deteriorate over the next six months on the back of intermittent power supply and the souring relations between South Africa and the United States. South Africa is currently in the crosshairs of the Trump administration and diplomatic relations have…

Umngeni-Uthukela Water, the government-owned water authority serving KwaZulu-Natal, has reported a dramatic fall in profits for the six-month period ending December 31, 2024, citing substantial increases in expected credit losses as the primary catalyst. The authority's profit shrank to R592.37 million, starkly down from R1.14 billion during the same period the…

The South African Revenue Service (Sars) collected a record gross revenue of R2.303 trillion for the 2024/25 fiscal year, exceeding expectations by nearly R8.8 billion, a day before parliament votes on the National Budget. Sars Commissioner Edward Kieswetter hailed the outcome as a testament to the agency’s efficiency, noting that it…

Minister of Mineral and Petroleum Resources in South Africa Gwede Mantashe announced a price drop in all grades of petrol and diesel on Tuesday.Minister Mantashe announced that decreases will come into effect on Wednesday 2 April.Petrol 93 (ULP & LRP): Fifty-eight cents per litre (58.00 c/l) decrease.Petrol 95 (ULP &…

Donald Trump’s return to the White House in 2025 marks a defining moment for Africa’s fossil fuel industry. Within weeks of his inauguration, his administration reapproved a $4.7 billion (R86bn) loan from the US Export-Import Bank (Exim) for TotalEnergies’ liquefied natural gas (LNG) project in Mozambique.This funding, first greenlit during…