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  • Credit Rating

    Moody's has (again) said that weak state-owned entities are a risk to SA's sovereign credit rating.

  • SARS Inquiry

    Judge Nugent has recommended the president sack suspended SARS boss Tom Moyane.

  • Nene Rand Rollercoaster

    Simon Brown says savvy investors worked out how the rand would react to uncertainty at Treasury.

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Sars

SARS admits it may have 'thrown out the book' with Bain, Gartner contracts

The South African Revenue Services's Chief Financial Officer, Johnstone Makhubu conceded on Wednesday that its procurement division may have "thrown out the book" in its awarding of multi-million rand contracts to Bain and Gartner.

Related Articles

Financial Services

Ramaphosa reveals terms of reference into PIC probe

Oct 17 2018 19:34

The government has gazetted the terms of reference into an investigation into the Public Investment Corporation, initially announced in August.

Economy

DA's Mazzone lays charges against SOE accounting bosses

Oct 17 2018 21:01

Public Enterprises Minister Pravin Gordhan has acknowledged to Parliament that some of these entities battled with timeous submissions of their financial statements.

Markets

Fed officials debated hiking rates to restrictive territory

Oct 17 2018 22:00

Federal Reserve officials stepped deeper into a debate over how high to push interest rates, with a majority appearing to favour an eventual and temporary move above the level they deem neutral for the economy in the long run.

Economy

Scopa decries delays in Public Service Commission's report on probe

Oct 17 2018 21:37

The Public Service Commission has requested an extension to submit a report on the appointment of Boitumelo Mokgoro as chief financial officer at an entity of the Public Works department.

Markets

Markets WRAP: Rand steady ahead of Fed minutes release

Oct 17 2018 16:00

The rand closed at R14.18/$, ahead of the release of the US Federal Reserve Bank's September meeting minutes.

 

Analysis & Opinion

Opinion

The problem with being a net importer of wheat

These are tough times for Africa – the shocks will be felt in terms of...
Opinion

Solly Moeng: SA needs a rebrand, stat

If SA wants a new dawn, maybe it needs to reconsider its country brand...
Opinion

Why is Treasury the ANC's recycling plant?

Hours before Tito Mboweni was announced as finance minister, deputy minister...
Opinion

Diary of the unemployed: The fear, the desperation and the despair

The Jobs Summit was all about the unemployed. So where were they? asks...
Opinion

Ferial Haffajee: Inside Trevor Manuel’s notes to a new finance minister

An internal document describing the work of a Finance Minister provides...

In other news

US housing starts fell last month amid Hurricane Florence

Oct 17 2018 15:04

US new-home construction has fallen in September on a decline in the South that may reflect disruptions from Hurricane Florence, according to government figures.

European equities mostly drop as outlook darkens

Oct 17 2018 14:08

European stocks have mostly sunk on stubborn worries over global trade and high oil prices, but London rose after the EU offered to extend Britain's Brexit transition period.

UK inflation slows more than expected on food, transport

Oct 17 2018 11:07

UK inflation has slowed more than expected in September, dragged lower by the cost of food and transport fares.

Chinese stocks end with healthy gains

Oct 17 2018 10:19

Chinese stocks have ended a two-day losing streak with a healthy gain as investors tracked a rally on Wall Street.

European stocks rise at open

Oct 17 2018 10:16

European stock markets have advanced at the start of trading, with London's benchmark FTSE 100 index up 0.4% at 7 088.08 points.

Tokyo shares rise after Wall Street rally

Oct 17 2018 08:23

Tokyo stocks ended higher with investor sentiment boosted by robust corporate earnings that triggered a rally on Wall Street and lifted shares in Asia.

  • Winners
  • Losers
Selected from the top 100 Equities by Market cap.
WinnersPriceChange% Change
AVI Avi LimitedR102.43R2.882.89%
ITE Italtile LimitedR12.85R0.292.31%
SPG Super Group LimitedR38.85R0.842.21%
BTI British American Tobacco ...R615.50R13.192.19%
PSG Psg Group LimitedR215.92R3.181.49%
Selected from the top 100 Equities by Market cap.
LosersPriceChange% Change
MEI Mediclinic International ...R73.96R-15.04-16.90%
APN Aspen Pharmacare Holdings...R158.66R-10.54-6.23%
MNK Montauk Holdings LimitedR88.99R-4.47-4.78%
VVO Vivo Energy PlcR22.30R-0.93-4.00%
MSM Massmart Holdings LimitedR91.55R-3.61-3.79%
All JSE data is delayed by at least 15 minutes and provided by Morningstar

Inside Fin24.com

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South Africa

READ: Damning Nugent report into 'reckless mismanagement' at SARS

Oct 17 2018 12:49

Read the full report by Judge Robert Nugent on the commission of inquiry into tax administration and governance at SARS.

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World

Trade war: Biggest risk to global financial markets

Oct 17 2018 21:21

As the most liquid emerging market, our currency, equities and bonds ebb and flow in tune with global markets, this begs the question, what is driving global markets?

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Money Clinic

The fundamental difference between money market and income unit trusts

Aug 17 2018 21:04

A Fin24 user wants to know what the fundamental difference is between a money market unit trust and an income unit trust.

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Entrepreneurs

How to turn a family shop into a $1.8bn multinational

Oct 13 2018 08:00

Mohan Vaswani’s father, who started selling textiles in 1948 from a shop the size of a shipping container in a small town in Indonesia, once told him, “One day you will operate across the world.”

More in this section
Markets

JSE closes weaker as stocks erase gains

Oct 17 2018 19:01

The JSE erased earlier gains to close weaker on Wednesday as blue-chip stocks withered.

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Companies

Tesla secures land in Shanghai for first factory outside US

Oct 17 2018 15:29

Tesla has secured land in Shanghai for first electric car factory outside the United States.

More in this section
Investments

Buy a solar panel, make money

Oct 07 2018 15:52

Individuals can essentially become independent power producers by buying a solar panel, which feeds into the national grid.

More in this section
Tech

Musk settlement with SEC over tweets approved by US judge

Oct 17 2018 16:56

A US judge has approved Tesla and CEO Elon Musk’s $40m settlement with the US Securities and Exchange Commission, resolving government claims that Musk misled the public with a flurry of tweets about a plan to take the company private.

More in this section
Finweek

How to incentivise creativity

Oct 12 2018 14:28

Should people in creative jobs be subject to competitive markets forces? Popular belief says no. But research suggests that competition, in fact, increases creative output - up to a point.

More in this section
Most ReadEditor's Choice
How Moyane turned SARS upside down - 7 highlights from scathing Nugent report Markets WRAP: Rand steady ahead of Fed minutes release 'Institutional chaos', budget cuts as SARS battles to 'keep the lights on', Inquiry hears READ: Damning Nugent report into 'reckless mismanagement' at SARS Sack Tom Moyane from SARS, recommends Judge Robert Nugent
WATCH: Mboweni faces double challenge as SA's 5th finance chief in 3 years Tencent's $214bn tumble is breaking all kinds of records There's a problem with 'Wakanda visions' for African cities - academic Nuclear power still viable for SA's energy mix - industry Ramaphosa's Job Pact: What's hot and what's not?

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