BusinessLIVE - For Your Ear

Oil prices slip due in part to price cut by Saudi Arabia

London — Oil prices fell on Monday as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months and uncertainty over China’s oil demand cloud oil markets’ recovery. Brent crude was at $42.04 a barrel, down 62 US cents or 1.4% by 8.59am GMT, after…

7 Sep 2020 6AM 2 min

EU to blacklist Belarusian officials

Brussels — The EU aims to impose economic sanctions on 31 senior Belarus officials including the country’s interior minister by mid-September, three EU diplomats said, in response to an August 9 election that the West says was rigged. Almost a month into mass demonstrations against the outcome of the contest,…

7 Sep 2020 6AM 2 min

Global shares recover slightly after huge fall in tech stock

London/Sydney — World shares rose slightly on Monday after losing $2.3-trillion in the last two sessions in a technology stocks led rout as investors reassessed soaring valuations when the global economy is in a coronavirus-induced recession while oil prices dropped. European stocks, which have fewer technology stocks compared to the…

7 Sep 2020 5AM 3 min

Italian premier Conte flexes his muscles as he expands state intervention

Rome — Italian Prime Minister Giuseppe Conte made it clear to the country’s corporate elite that he will be calling the shots more often in a pandemic-stricken economy. Conte and cabinet members showed up in force at the weekend at a gathering of financial and company leaders on the shores…

7 Sep 2020 4AM 3 min

Hundreds of Rohingya refugees arrive in Indonesia

Lhokseumawe — Almost 300 Rohingya refugees believed to have been at sea for six months landed in Indonesia’s Aceh province early on Monday, Indonesian authorities said. Acehnese police said a wooden boat carrying the Rohingya was spotted by local fishermen several kilometres off the coast of Lhokseumawe, before landing at…

7 Sep 2020 4AM 2 min

Third Chinese company has ‘fat finger’ issue, but analyst cries wolf

A third Chinese company in less than a week said a major holder accidentally sold its shares, increasing speculation that insiders may be testing the market before they offload stakes. Shenzhen Changfang Group said Nie Xianghong, a shareholder acting in accord with top investor Li Dichu, accidentally sold 16,000 shares…

7 Sep 2020 3AM 1 min

Californians sidestep blackouts but wildfires take out power plants

San Francisco — California once again evaded rolling blackouts on Sunday after residents dramatically curbed electricity use during a record-breaking heat wave — but the state’s energy crisis is far from over. The sweltering temperatures are fueling wildfires that have, just this weekend, taken down power plants, forced evacuations and…

7 Sep 2020 3AM 4 min

JOAN MULLER: How Covid is breathing life into SA’s housing market

If you’re looking to generate some cash from your primary home without giving the front door keys away permanently, now could be a good time to rent it out. There certainly appears to be plenty of demand from tenants. I opted for this route and found takers within less than…

7 Sep 2020 2AM 5 min

LEBOGANG MOKOENA: Mr Fixit isn’t fixing anything

There is an old bridge dividing Orlando East with Orlando West, with a rail line running under it. Every weekday morning at around 6am, the morning train driver blows a horn as the train passes under the bridge. But this is not a greeting — the driver is doing this…

7 Sep 2020 2AM 3 min

Oil slides after Saudi price cuts hit five-month high

Singapore — Oil prices dropped more than 1% on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months while optimism about demand recovery cooled amid the coronavirus pandemic. Brent crude was at $42.21 a barrel,…

7 Sep 2020 2AM 2 min

Asian shares on the back foot amid heady valuations

Sydney — Asian shares were on the defensive on Monday as investors grappled with sky-high valuations against the backdrop of a global economy in the grip of a deep coronavirus-induced recession while oil prices dropped sharply. Chinese stocks started lower while shares of Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC)…

7 Sep 2020 1AM 4 min

Gold rises as worry about global growth supports demand

Bengaluru — Gold edged higher on Monday after weak US data raised concerns over a quick economic rebound from the coronavirus-led slump and cemented hopes that lower interest rates would last longer. Spot gold was up 0.2% at $1,935.50 per ounce by 5.41am, moving further away from a one-week low…

7 Sep 2020 1AM 2 min

JSE faces subdued Asian markets on Monday

The JSE faces subdued Asian markets on Monday morning, with investors considering US-China tensions and whether last week’s tech sell-off will continue. Reports have suggested the US is considering banning the sale of components to China’s largest chipmaker, Semiconductor Manufacturing International Corporation (SMIC). Though SMIC’s stock has fallen 15% in…

7 Sep 2020 1AM 1 min

Nato condemns Russia over ‘appalling’ attack on Navalny

Brussels — Nato has pointed the finger at Russia over the poisoning of Alexei Navalny, calling the attack “appalling” but stopping short of any immediate concrete response. Nato secretary-general Jens Stoltenberg reiterated a call for an international reaction to the use of a military-grade nerve agent on the Russian opposition…

6 Sep 2020 5PM 1 min

THE WASHINGTON TIMES: The myth of ingrained racism

Above the din of protests surging across 2020 America echoes the conviction that systemic racism is everywhere, and peace won’t prevail until it is finally expunged. The notion that racism is ingrained in American culture has become the dogma of this era, not only among angry blacks, but also young…

6 Sep 2020 5PM 2 min

LETTER: SAA plays into Ethiopian Airlines’ hands

After reading that the department of public enterprises is in discussions with Ethiopian Airlines, among other companies, to offer support to our perpetually bankrupt flag carrier, I cannot help but be reminded of Martin Luther King Jnr, who once said that “nothing in the world is more dangerous than sincere…

6 Sep 2020 4PM 2 min

Warnings about SA’s push towards the fiscal cliff went unheeded for years

The supplementary budget tabled in June indicated that SA’s existing dire fiscal position had taken a turn for the worse. The Fiscal Cliff Study Group (FCSG) has been warning since 2014 that SA’s public finances were developing in an unsustainable way. The growth in government revenue could not match the…

6 Sep 2020 4PM 4 min

Digitisation is the portal to growth for business and government

Though it is undeniably difficult to look back at February while still in the midst of a global pandemic, reflection can reveal the many positive developments and lessons the crisis has brought. From a digital transformation perspective February was significant in that it marked the month of the state of…

6 Sep 2020 4PM 4 min

LETTER: Zuma can shun Zondo

Former president Jacob Zuma’s lawyers are unfortunately correct in their assertion that their client need not attend the Zondo commission hearings again, notwithstanding any subpoena that may be issued and served on him (“Zuma’s lawyers hint he may defy state capture inquiry” (, September 3). The newly amended inquiry regulations…

6 Sep 2020 4PM 1 min

LETTER: How the NPA can get cracking on PPE theft

The auditor-general has said some corrupt suppliers of personal protective equipment (PPE) charged up to five times the market price for masks and other protective equipment (“Health and education paid up to five times more for PPE, says auditor-general” (, September 2). There have even been reports of eight times…

6 Sep 2020 4PM 1 min