Share

Top 5 on Fin24: Slight uptick in petrol price, Gautrain strike set to continue and Eskom warns of constrained power supply

Cape Town - A roundup of Monday's top economic and finance reads on Fin24.

Slight uptick in petrol price for August

Cheaper international oil prices have slammed the brakes on significant increases in fuel prices for August.

The Department of Energy announced on Monday that the price of both grades of petrol would increase by 1c a litre from Wednesday.

VBS: SA's biggest bank heist leaves trail of destruction

 Suitcase of rands

South Africa’s biggest bank heist took place without a single shot being fired.

Thieves armed with explosives and assault rifles attacked dozens of armored vehicles delivering cash to the country’s lenders last year, stealing hundreds of millions of rand.

They’ve allegedly been outdone by five bankers accused of siphoning off at least R1.5bn from VBS Mutual Bank.

'Train smash' for commuters as Gautrain strike set to continue

Commuters are fuming over Gautrain delays. (Photo:

The United National Transport Union (UNTU) denied on Monday that buses were prevented from leaving the Gautrain depot in Midrand during their protected strike, and vowed that strike action would continue until workers' demands were taken seriously.

The UNTU embarked on a strike on Monday morning, demanding a 10% wage increase and other incentives from the Bombela Operating Company (BOC), which runs the Gautrain.

Eskom warns of load shedding, constrained power supply

For the first time since late June, power utility Eskom has warned of a constrained power supply. 

In the past, Eskom put out similar warnings ahead of rotational load shedding. 

South Africa experienced several days of load shedding in mid-June. At the time, Eskom blamed the power outages on acts of intimidation and sabotage by workers who were locked in wage negotiations. Unions denied they were involved, however. 

Fate of South African gold rests on one giant, loss-making mine

gold bars large

Three thousand metres below the plains southwest of Johannesburg, teams of miners are toiling to revive the gold industry that underpinned South Africa’s economy for generations.

The South Deep mine was built to target the world’s second-biggest known body of gold-bearing ore, a deposit that could produce for the next 70 years and slow the steady decline in the country’s production. Trouble is, the mine’s not making any money for owner Gold Fields [JSE:GFI].

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.89
+0.2%
Rand - Pound
23.87
+0.1%
Rand - Euro
20.39
+0.2%
Rand - Aus dollar
12.33
+0.1%
Rand - Yen
0.12
+0.1%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders