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Back to back quarter of sales growth for BMW

The BMW Group has accomplished its best first-half-year sales result with 1,242,507 (+1.8%) BMW, MINI and Rolls-Royce vehicles delivered to clients. Member of the Board of Management of BMW AG in charge of Sales and Brand BMW Pieter Nota said sales were up 2.7% to add up to 238,920 units around the world. …

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Mercedes-Benz Cars R10 billion cash injection to boost South African economy

As a sign of commitment and the revival of economic growth in South Africa, the German premium car manufacturer, Mercedes-Benz Cars has unveiled a 600 million Euro (R10 billion) investment to expand its car plant in East London, Eastern Cape and to produce the next generation of the C-Class paragon …

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Vendors urged to submit outstanding VAT returns

The South African Revenue Service (SARS) on Friday reminded Value Added Tax vendors to submit their outstanding returns to avoid administrative penalties. In its statement, the revenue service said the Tax Administration Act No. 28 of 2011 (TAA), states that it is a criminal offence not to submit a tax …

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Vroom, car engines roars in VWSA plant

Volkswagen Group South Africa (VWSA) produced 1 millionth engines a month, far surpassing its underlying target without encountering glitches, the automobile company has announced. In a statement, Engine Plant Unit head Richard Reid said VWSA reached a historical milestone when it produced 1 millionth EA111 engine on June 11, 2018, …

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Skills development programme set to empower over 12 000 youths

This youth month Shoprite Group will reach its target of empowering more than12 000 youths aged between 18-29 years to enter the retail sector or start their own business, the retail group announced in their official website on Monday. Shoprite Group’s Retail Readiness programme was launched in February 2016. Following …

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Eskom secures funding for the future

Eskom has secured 22% of the funding it needs in the new financial year, its board chairperson Jabu Mabuza said on Thursday. “To date, Eskom has raised R43 billion between January and March 2018, and since April, secured 22% of the required funding for the new financial year,” said Mabuza. …

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Plans to merge SAA, Mango and SA Express

South African Airways (SAA), SA Express and Mango are to be merged, Public Enterprises Minister Pravin Gordhan said on Thursday. Briefing media at the Imbizo centre in Parliament on board appointments of State-owned companies (SOCs) in the Department of Public Enterprises (DPE) portfolio, Gordhan said there are plans to merge …

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Repo rate unchanged at 6.5%

The Reserve Bank has decided to keep the repo rate unchanged at 6.5% per annum, Governor Lesetja Kganyago said on Thursday. “At these levels, the MPC [Monetary Policy Committee] still assesses the stance of monetary policy to be accommodative and appropriate, given the forecast inflation trajectory and the current state …

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Trade Union disrupts Wage Bill meeting

Portfolio Committee on Labour says the alleged conduct of the South African Federation of Trade Unions (Saftu) activists who tried to disturb a council meeting intended to discuss the National Minimum Wage Bill is wrong. Chairperson of the Committee Sharome van Schalkwyk said the episode was terrible and does not address …

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Eskom to overspend by more than R52 billion on power contracts

A report submitted to Parliament Appropriations Committee by the Office of the Central Procurement Officer has uncovered Eskom will overspend by R 52, 2 billion or 48, 5% on the Medupi and Kusile Power stations, according to Democratic Alliance (DA) Deputy Minister of Finance Alf Lees. Lees said in a …

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