Category: <span>Business</span>

The advanced battery cell design and new manufacturing processes outlined by Tesla Inc <TSLA.O> CEO Elon Musk are promising, battery experts say, but they questioned how quickly they can be implemented and how much they’ll contribute to reducing overall costs. Tesla’s new battery cell — a larger cylindrical format called 4680 that can store more...

Rand, markets still under pressure after major meltdown The rand has suffered an almighty shock – falling 3% in a single day yesterday. It was trading at R16.82/$ this morning from R16.10 on Friday. Turmoil hit global markets as investors worry about surging Covid-19 daily cases, a possible “mini lockdown” in the UK, and allegations of...

The World Economic Forum’s flagship summit in the Swiss ski resort of Davos might just be cancelled in 2021, according to a report from Swissinfo.ch. The four-day conference, which brings together politicians, plutocrats, celebrities and activists, was first expected to be delayed from January 2021 to “early next summer” because of safety threats posed by the...

“As part of re-establishing trust with Sars, the issue of reparations came up that KPMG should contribute to reparations and the healing of those people, and that has been agreed. We recognise that it’s a matter of time,” said KPMG SA chair Wiseman Nkuhlu. In 2014 suspended former SARS head Tom Moyane hired KPMG SA...

Ghana, Africa’s largest gold producer, is planning an up to $500 million (£389.11 million) listing of its gold royalty fund in London in October, though the deal could still run into political opposition, three sources familiar with the matter told Reuters. Agyapa Royalties, a government-backed fund that holds equity interests including mining royalties in the...

With the country just hours away from level one of the lockdown, Tourism Minister Mmamoloko Kubayi-Ngubane said the sector was ready to welcome an increase in activity for both domestic and international tourists. President Cyril Ramaphosa recently announced an easing of restrictions, which will kick in at the stroke of midnight on Sunday. With close to 660,000 confirmed infections...

The City of Johannesburg has relaunched its free WiFi project, which comprises 84 active Joburg Free WiFi hotspots across the city. “We are re-launching the free #JoburgWiFi hotspots roll-out. This is after the free WiFi roll-out took a backseat in the past four years,” tweeted the City of Johannesburg. The project provides Johannesburg residents with 500MB of data per...

The Securities and Exchange Commission (SEC) in Nigeria has issued regulatory guidelines for digital currencies and crypto-based companies or startups. The aim, according to Nigeria’s capital market and investment regulator, is to protect investors and create standards for ethical practices. Also, the Commission will regulate all Digital Assets Token Offerings (DATO), Initial Coin Offerings, Security...

Game has launched its first future-ready concept store at the Mall of Africa in Johannesburg. Innovations that are being piloted at the store include self-checkout counters, price check booths, sampling vending machines, electronic shelf labels, and free customer Wi-Fi. Additionally, the store will have a children’s play area, interactive demonstration zones across various store categories,...

Interest rate remain unchanged – two hikes expected in 2021 The monetary policy committee kept the repo rate unchanged at 3.5%, and governor Lesetja Kganyago said that the Reserve Bank’s models do not make provision for further repo rate cuts in the near term, but foresee two rate increases in the third and fourth quarters...