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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

PARLIAMENT TO PROCESS OVER 700,000 SUBMISSIONS ON LAND EXPROPRIATION

Parliament will soon start processing over 700,000 written submissions following its grueling nationwide land reform hearings.

Public hearings concluded in Cape Town over the weekend.

The gathering was the last opportunity for South Africans to weigh in on whether they back a proposal to amend the Constitution to allow for the expropriation of land without compensation.

Parliament has contracted a private company to process the over 700,000 written submissions.

Before the public hearings in all nine provinces started, the committee had received hundreds of thousands of written submissions.

Those who made written submissions will also have an [...]

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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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