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August 17, 2018

NEW LABOUR LAWS YOU NEED TO KNOW!

According to law firm Cliffe Dekker Hofmeyr (CDH), the bills deal with a broad range of labour issues including minimum wage, parental leave, disputes, and strike action.

The Bills will now be placed before a plenary sitting of the National Council of Provinces. If adopted, the Bills will be sent to the President of the Republic of South Africa for final assent and signature. Once signed by the president, the bills will become law.

Below CDH broke down the most important aspects of each Bill.

National Minimum Wage Bill

The National Minimum Wage Bill, together with the Basic Conditions of Employment Amendment Bill, proposes that the national minimum wage is [...]

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August 17, 2018

THE RAND IN RECOVERY MODE!

The lira, the world’s worst performer this year, and South Africa’s rand led the advance as some investors say Turkey’s problems are unique and others look for buying opportunities across emerging markets, writes Bloomberg.

The rand was nearly 2.5% stronger in morning trade against the dollar on Tuesday, after sliding as much as 9.4% on Monday – the most since October 2008.

Bloomberg reported some analysts saying that there are few fundamental reasons for assets across emerging markets to fall because of the lira. Turkey’s problems stem from president Recep Tayyip Erdogan’s standoff with the US administration.

With average inflation rates at record lows and [...]

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August 7, 2018

$14.7 BILLION CHINESE INVESTMENT TO STIMULATE SA ECONOMY

Trade cooperation agreements signed by South Africa’s President Cyril Ramaphosa and Chinese President Xi Jinping for the investment are to benefit the local infrastructure, ocean economy, green economy, science and technology, agriculture, environment, as well as finance sectors.

“Strengthening partnership with the world’s leading economy and reliable trade partner has afforded South Africa with opportunities to increase its exports, accelerate infrastructure delivery, economic recovery and job creation,” said SANCO National Spokesperson, Jabu Mahlangu in a statement released late on Tuesday.

 

 Source: [...]

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August 7, 2018

SA ECONOMY REQUIRES RIVALRY

Ana Lucía Coronel, who heads the IMF team for South Africa, said: “The recommendation of IMF staff is to increase competition in all sectors, so that more private companies, domestic and foreign, could invest and compete in the production of services – not only in telecommunications, but also in energy, transport, and other sectors”.

The IMF also said that the use of technology still has a long way to advance in South Africa, given the potential of the economy.

The lender said the cost of internet in the country is high and the quality is low, because there are very few competitors.

South Africa’s economy is known to be characterised by high levels of [...]

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