From Business Insider South Africa:
No iron, no vanity kit, and no spare blanket: Here’s what your next SA hotel visit will be like
SA’s economy may be tanking — but one big sector exploded with growth of 28%
Shipping giants are starting to avoid Cape Town as harbour is hit by illness, long delays
The Reserve Bank has now bought R20.9 billion in govt debt – but promises it isn’t guiding prices
MTN’s 5G network has launched. And it’s not just available in big cities
Here’s what it will cost to rent or buy a generator before likely winter loadshedding
Criminals target Gumtree users during lockdown – here’s their latest big scam
SA’s big petrol brands score high with customers – but one lags behind
1. The economy shrank by 2% in the first quarter of 2020, which is somewhat better than expected – still it shows that SA was deep in recession even before the coronavirus crisis hit.
2. The gold price hit its highest level in more than eight years overnight, with August futures crossing $1,800 an ounce. A spike in new coronavirus cases, specifically in the US, has bolstered gold as a safe-haven investment.
3. The Gauteng provincial government says it may possibly look at "intermittent lockdowns" as the province prepares for a peak in Covid-19 cases.
4. The Zondo commission resumed yesterday, and former chairperson Popo Molefe testified that a businessman whose company scored a controversial R3.5 billion locomotives tender told him that he had made payments that benefited the ANC.
5. Steinhoff reported its annual results this morning: while total revenue from continuing operations for the year to end-September rose by 5%, its annual loss widened to €1.8 billion.
Graph of the day:Year-to-date returns in rands: Gold +46%, US market (S&P 500 incl dividends) +18.3%, and JSE (incl dividends) -3.6%. Source: Johann Biermann/Bloomberg
Tweets of the day:
afriforum says I know a spot then takes you to court— azminah (@azminahj) June 29, 2020
People will charge R8000 a seat for a woman's empowerment conference to tell women to "aspire to inspire before you expire".— Cairo Mathebula (@Cairo_Mathebula) June 29, 2020
Living in South Africa is basically a protracted game of snakes and ladders.— Mike Stopforth (@mikestopforth) June 29, 2020