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Siphelele Dludla siphelele.dludla@inl.co.za South Africa’s aviation industry has started feeling the harsh impact of renewed and stricter lockdown restrictions as passenger traffic dwindled at Africa’s busiest airport, OR Tambo International. Comair on Friday temporarily suspended all its scheduled flights for three weeks from today until July 30, just seven months after taking to the skies again following an eight-month hiatus last year. This suspension of flights follows President Cyril Ramaphosa’s announcement of a move to an adjusted level 4 lockdown for 14 days due to the rapidly rising Covid-19 infections. The newly imposed travel restrictions due to the third wave of infections prohibit all non-essential travel to and from Gauteng, the hot spot of the Covid-19 pandemic. The June 27 announcement also adjusted curfew hours, reducing them between 9pm to…
Sandile Mchunu sandile.mchunu@inl.co.za STEINHOFF International’s woes deepened on Friday after the Western Cape High Court ruled in favour of Trevo Capital and declared that the troubled retailer had violated the Companies Act in 2019, an outcome that could affect the payouts and settlements to other claimants. This comes after Trevo Capital, a Mauritius-based company, brought an application in the Western Cape High Court seeking a declaratory order on February 16 that, among other things, the Steinhoff International Holdings Proprietary Limited (SIHPL) guarantee and a contingent payment undertaking (CPU) between SIHPL and global loan agency services, dated August 12, 2019 (SIHPL CPU), did not comply with section 45 of the Companies Act, which outlines requirements that must be met for a board to extend financial assistance. Trevo in its grievances against…
Banele Ginindza banele.ginindza@inl.co.za Business over the weekend played its part in the Covid-19 vaccine roll-out as Discovery Health opened its sixth Gauteng site, but with calls for the government to allow for more involvement by the private sector. South Africa registered more than 26 000 cases of Covid-19 yesterday, the highest tally of new infections since the pandemic erupted across the world early last year, sparking fears that the lockdown restrictions could be extended, further hitting the nascent economic recovery. The government is the sole purchaser of vaccines, which it distributes to provincial governments and the private sector, with the government operating most of the vaccine sites. Corporate updates on Friday indicated that business would bring added efficiency to achieve the 300 000 vaccines a day to achieve the 60…
IN SOUTH Africa today, no one would gainsay that the situation with our municipalities is extraordinary, de- manding extraordinary measures to arrest the decay and reverse it. Hardly a day goes by without residents taking to the streets, pulling things down, burning things and turning things upside down in protest against the failure of municipalities in service delivery, be it water, sanitation or electricity. More municipalities are dysfunctional than those that still have a modi- cum of normality. In the words of Ronald Sackville, the chairperson of the Royal Commission into Violence, Abuse, Neglect and Exploitation of People with Disability regarding the inquiry into poverty in Australia: “Nothing rankles more in the heart than a sense of injustice. Illness we can put up with, but injustice makes us to want…
I HAVE written before about how our lives in today’s digital world are largely controlled by algorithms. We see how they are shaping the world around us and are determining many outcomes, but many people do not have an idea to what extent our lives are influenced and controlled by these algorithms. Every time we do a Google search, buy something online, look at our Facebook feed, or use the GPS navigation system, we are interacting with an algorithm. Algorithms are making numerous decisions in our society. They determine what we read, watch, and listen to. But gradually these algorithms have gone further to shift the way our society is operating. Lately, they even attempt to control our happiness and change how we see the world and ourselves. Equation for…
Sandile Mchunu sandile.mchunu@inl.co.za LABAT Africa said on Friday that it expected its half-year losses to widen by more than 50 percent for the six months to end February. The investment holding company said in a trading statement for the six months to end February that it expected its headline loss per share (Hlps) to decline by 50 percent, moving from a restated Hlps of 3 cents a share to a Hlps of 4.5c in the current reporting period. Its basic loss a share (Lps) for the six months to end February 2021 would decline by more than 100 percent, moving from a restated Lps of 1.2c for the six months to end February 2020 to a Lps of 4.5c. In last year’s results, the group felt the impact…
