{"id":194282,"date":"2017-08-24T07:39:06","date_gmt":"2017-08-24T05:39:06","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=194282"},"modified":"2017-08-24T07:39:06","modified_gmt":"2017-08-24T05:39:06","slug":"5-important-things-happening-in-south-africa-today-129","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/194282\/5-important-things-happening-in-south-africa-today-129\/","title":{"rendered":"5 important things happening in South Africa today"},"content":{"rendered":"<p>Here&#8217;s what is happening and affecting South Africa today:<\/p>\n<ul>\n<li>As the Gupta family sells off its Tegeta mining assets to a little-known Swiss shelf company, information has emerged that the owner of the company &#8211;\u00a0Amin Al Zarooni &#8211; <strong><a href=\"https:\/\/www.dailymaverick.co.za\/article\/2017-08-23-amabhungane-and-scorpio-guptaleaks-guptas-offload-as-their-sa-empire-is-under-threat\/\">has helped the family hide their interests in the past<\/a><\/strong>. Investigative journalists have uncovered that Zarooni headed up a Dubai company which had a sole function to help Gupta businesses avoid South African tax.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"http:\/\/af.reuters.com\/article\/commoditiesNews\/idAFL8N1L94TQ\">National Treasury has confirmed that it is looking to sell its stake in Telkom to fund a R10 billion bailout in South African Airways<\/a><\/strong>, though it said it was only an &#8216;option&#8217; at this stage, with nothing finalised. SAA is making billion rand losses, and has R20 billion in debt.\u00a0Government holds a stake of about 39% in Telkom, with the PIC holding 11.4%.<\/li>\n<\/ul>\n<ul>\n<li><strong><a href=\"https:\/\/www.businesslive.co.za\/bd\/companies\/financial-services\/2017-08-24-jse-to-keep-print-announcements\/\">The JSE has dropped its plan to scrap the requirement for listed companies to report their financials in print publications<\/a><\/strong>, after the plan to go digital was not supported by a large number of companies. Publications like BusinessDay had made representations to the JSE to stop the group from changing those listing requirements.<\/li>\n<\/ul>\n<ul>\n<li>A leading economist says that <strong><a href=\"https:\/\/www.moneyweb.co.za\/news\/economy\/sa-economy-is-stuck\/\">South Africa is &#8220;truly stuck&#8221; in a low-growth economy, with little to no options open for the government to try turn things around<\/a><\/strong>. According to\u00a0Stanlib\u2019s Kevin Lings, the only real way to get out of the slump is to boost business confidence in the country &#8211; and with the current state of affairs, that direction looks unlikely.<\/li>\n<\/ul>\n<ul>\n<li>South Africa&#8217;s rand clawed back losses to end largely flat on Wednesday following a lower inflation readout that triggered some selling by foreign investors searching for higher yields as the likelihood of further interest rate cuts increased. <strong><a href=\"http:\/\/www.xe.com\/currencyconverter\/convert\/?Amount=1&amp;From=USD&amp;To=ZAR\">On Thursday the rand was trading at R13.16 to the dollar, R16.83 to the pound and R15.54 to the euro<\/a><\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The &#8216;buyer&#8217; of the Guptas&#8217; mining operations has a history of fronting for the family; Treasury confirms that selling its stake in Telkom to bail out SAA is an option; the JSE has dropped plans to scrap the newspaper publishing requirement for listed companies; and Stanlib economist Kevin Lings says SA is well and truly stuck.<\/p>\n","protected":false},"author":10,"featured_media":189660,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[],"class_list":["post-194282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/194282","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=194282"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/194282\/revisions"}],"predecessor-version":[{"id":194296,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/194282\/revisions\/194296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/189660"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=194282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=194282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=194282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}