Flash briefing – Government defends ‘New’ SAA bailout, Oil and Sasol plunge; Gupta sanctions, Old Mutual expansion
Loading player...
In today's business headlines:
- The South African government says it was aiming for the New South African Airways to fly again in the first half of next year, after it gave the airline a R10.5 billion bailout in the mid-term budget. Several government officials have come out in defence of the bailout.
- Sasol shares have plummeted on the Johannesburg Stock Exchange by more than 11% before following a drop in the price of oil to its lowest level since May. The JSE All Share Index registered another drop of around 1% on Thursday after the biggest plunge in seven months of 3.3% on Wednesday.
- Old Mutual is planning to expand its business in China, while considering exiting some markets on its home base, as part of a refreshed strategy to focus on more profitable areas of its operations.
- British Lord Peter Hain have again raised the issue of the Guptas in the British House of Lords again today asking the British government to impose sanction on the brothers Ajay, Atul and Rajesh Gupta who he said were responsible for looting R7 billion from South African taxpayers. Learn more about your ad choices. Visit megaphone.fm/adchoices
- The South African government says it was aiming for the New South African Airways to fly again in the first half of next year, after it gave the airline a R10.5 billion bailout in the mid-term budget. Several government officials have come out in defence of the bailout.
- Sasol shares have plummeted on the Johannesburg Stock Exchange by more than 11% before following a drop in the price of oil to its lowest level since May. The JSE All Share Index registered another drop of around 1% on Thursday after the biggest plunge in seven months of 3.3% on Wednesday.
- Old Mutual is planning to expand its business in China, while considering exiting some markets on its home base, as part of a refreshed strategy to focus on more profitable areas of its operations.
- British Lord Peter Hain have again raised the issue of the Guptas in the British House of Lords again today asking the British government to impose sanction on the brothers Ajay, Atul and Rajesh Gupta who he said were responsible for looting R7 billion from South African taxpayers. Learn more about your ad choices. Visit megaphone.fm/adchoices
